Buffett says Tesla can\'t sell insurance\, Musk hits back

Buffett says Tesla can't sell insurance, Musk hits back

IANS  |  San Francisco 

Founder and could not hold his displeasure over Warren Buffett's remarks that selling is not Tesla's cup of tea, leading to a couple of tweets related to the billionaire investor.

"The success of the auto companies getting into the business is probably as likely as the success of the insurance companies getting into the auto business," he told shareholders.

In an earnings call with analysts in April, Musk revealed his plans to launch an later in May.

"I'd bet against any company in the auto business" getting into insurance, CNBC quoted Buffett as saying.

This led Musk to issue a series of tweets on Sunday.

The first tweeted a link, asking his followers to order Model 3, which is cheaper than a Accord.

He then sent a playful tweet, claiming that Tesla is "also 1,000 more fun" than a Accord.

The third tweet said: "That's a direct quote from "

Buffett, 88, has lately been critical of Musk.

In an interview with in April, he said that Musk who is known for creating controversies via tweets has "room for improvement".

"I think he has room for improvement, and he would say the same thing.

"It's just, some people have a talent for interesting quotes and others have a little bit more of a blocker up there that says 'this could get me into problems'," Buffett was quoted as saying.

"I just don't see the necessity to communicate (on Twitter)," he said.

Buffett, however, added that Musk is "a remarkable guy".

The Berkshire Founder and CEO announced last week that his firm bought its first shares.

The stake in is a first for the Buffett has repeatedly praised and its CEO in the past.

--IANS

na/mag/

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 06 2019. 10:44 IST