Ron Baron stated that Tesla

Ron Baron stated that Tesla

Ron Baron

Billionaire investor Ron Baron told CNBC on Friday that he is sticking with his long-time position in electric car giant Tesla (NASDAQ:TSLA), alongside CEO Elon Musk’s leadership, due to his cost-consciousness.

Baron said in an interview with CNBC’s “Squawk Box” that Musk is the “lowest cost person” and “everything about the business is trying to drive prices lower.”

The publication said Tesla has a significant weighting in the Baron Partners Fund and that Baron has previously said his firm has made over 15 times its investment in Tesla since he first purchased shares of the EV stock in 2014.

However, he believes the electric car company will be worth four or five times more by 2030 and go on to become the largest company in the world in 10 years.

The investor said to CNBC that Tesla “can’t possibly be matched by anyone else,” as the “technology company is providing services to their own company and to others.”

“They have data technology. They’ve made cars cheaper than it was when Ford (NYSE:F) makes one of these cars,” he reportedly added. “Our company now makes about eight or $9,000 in profit a car.”

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