Charlie Munger Lauds Tesla's Unexpected 'Minor Miracle' In Car Business, Elon Musk Reacts

Tesla Inc. TSLA is the pioneer and frontrunner of the electric vehicle industry, and acknowledgment of the same came from none other than Warren Buffett’s trusted lieutenant Charlie Munger.

What Happened: Tesla has made real contributions to this civilization and it should not be equated to Bitcoin BTC/USD, Munger said in an interview with CNBC’s Becky Quick that was aired on Tuesday.

He said he was certainly surprised at how Tesla did as well as it did.

Tesla’s CEO Elon Musk has done some good things that others couldn’t do, he added. “We haven’t had a successful new auto company in a long, long time, What Tesla has done in the car business is a minor miracle,” Munger, who serves as Berkshire Hathaway Inc.’s BRKA BRKB vice chairman, said.

See Also: Elon Musk Wasn’t ‘Punching The Clock:’ Tesla Director Testifies On CEO’s Time Commitment To EV Maker In $56B Pay Lawsuit

Musk responded to the video of the interview shared on Twitter, stating “Mr. Munger’s words are much appreciated.”

This is reflected in its stock price, as the company is the most valued automaker in the world.

That said, the stock has lost about half of its market value seen in late 2021, as geopolitical developments, macroeconomic worries and Musk’s Twitter buy cast a cloud on the continuation of its aggressive growth.

Price Action: Tesla closed Tuesday’s session 1.82% higher at $194.42, according to Benzinga Pro data.

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