Musk says Tesla will be world's 'most valuable' company, calls Chinese firms 'competitive'

Tesla CEO Elon Musk believes that his automotive company will be the most valuable firm in the world, according to The Spectator Index. If that happens to be the case, it would not be the first time that Tesla would claim the top spot. Earlier in 2020, Tesla became the world’s most valuable car company will a valuation of $208 billion.

However, the company still faces strong rivalry, as Musk admitted during Tesla’s fourth-quarter earnings’ call on Wednesday. According to financial news website The Street, Musk was asked who he perceived as the company’s biggest competitor. "I'm curious how you see the current competitive landscape changing over the next few years, and who you see as your chief competitors in five years from now," an analyst questioned.

Showing a slight grin on his face, Musk said: "Five years from now, I guess long time. I don't think you could see second place with telescope.” "I don't think it's any of the companies that we're aware of. I'm just guessing that someone might pick it up, eventually,” he added, before realizing he was missing a major competitor.

Musk praises Chinese car companies

Acknowledging the surplus of car makers in China, the CEO said: "We have a lot of respect for car companies in China. They are the most competitive in the world. That is our experience and the Chinese market is the most competitive.” He then proceeded to laud the Chinese workforce for their hard work, but did not specify which Chinese company he was referring to.

“They work the hardest, and they work the smartest. We have a lot of respect for the Chinese car companies that we're competing against. I would guess there would probably be some company out of China [which] is most likely to be second to Tesla," he said in the earnings call.