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Tesla batteries to the universe: why Mars is key for Musk

From payment systems, to batteries, robots and space, IG financial analyst Angeline Ong takes a look at why Mars is fundamental to Elon Musk’s bigger business plan.

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Shares Tesla

Written by

Angeline Ong

Angeline Ong

Financial Analyst, Presenter and Content Editor

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(Video Transcript)

Tesla valued at at more than Ford and GM combined

Love him or hate him, Elon Musk has a track record for thinking big and everything he's done so far seems to be pointing at facilitating life on Mars. From the launch of PayPal in 1998, bought by eBay, to Tesla in 2003, to OpenAI and, of course, SpaceX.

Now even the boring company, which aims to build hyperloop and ultra high speed ground transportation for passenger and cargo, makes sense. If you're a space junkey like I am, you'll know that the first human inhabitants on Mars will have to be underground.

Musk's bots may improve life on Earth, too

Take a look at cars, too. Tesla is valued at more than legacy car makers like General Motors, just looking at the shares here, and Ford combined. All this means that it provides lots of cash flow for spending on heading to Mars and building things like Tesla bots that will carry out dangerous work and more laborious jobs that humans can't or won't do.

SpaceX, according to some reports citing Musk already monopolises space, delivering some 80% of all Earth's payload mass to orbit.

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