Elon Musk will never have enough. Or at least that is what it seems. The online payments, Tesla electric cars, buying the social network Twitter and renaming it X, being head of the U.S. Department of Government Efficiency for about 4 months, or launching rockets and setting up a network of satellites in space with his company SpaceX have not been enough for him. Recently, he has hinted at what his next venture will be, and the billionaire magnate wants to invest in drone manufacturing, entering the global drone market dominated by China.
This comes in response to the decline in sales of electric vehicles from his Tesla brand, as confirmed by data from the European Automobile Manufacturers’ Association (ACEA). The numbers indicate that in countries with free trade and EFTA members, sales have dropped by as much as 52%. In the case of Europe and China, the decrease was 46%. According to Morgan Stanley, the U.S. financial services giant, Musk would switch production from electric cars to drones if he enters the future eVTOL market (electric vertical takeoff and landing), posing a potential problem for China.
Elon Musk´s empire
Of South African origin, billionaire magnate Elon Musk seemed to have reached his peak with the creation of the company Tesla, with which he promoted the production of cars powered by electric engines, which became very fashionable (for a time). But nothing could be further from the truth! In addition to becoming the king of online sales, he also decided, in October 2022, to acquire the social network then called Twitter, now under the name X. That was not enough either, as he also gave a boost to his already existing aerospace company, SpaceX, with which he has launched several rockets into space, in addition to having created a network of satellites around our planet.
Musk wants to produce drones
Yes, what you read. As if the variety of companies he owns were not enough, he has now decided that it is a good time to enter the global drone market, which is led by China. On his own social network X, Musk read a comment that said, “Any country that cannot manufacture its own drones will be a vassal state,’ to which the magnate responded, ‘It’s better that we figure out how to build drones at scale quickly or we are doomed to be a vassal state, as you posted”.
Tesla’s numbers are dropping
Whether it is because he truly believes that the United States would become a vassal state, or because Tesla’s numbers are declining, Musk has plans to start producing drones. According to data from the European Automobile Manufacturers Association (ACEA), Tesla’s sales figures in April 2024 were 11,540 cars, dropping to 5,475 in just one month. A 54% decrease, which also reached 49% in free trade countries, including Iceland, Norway, Switzerland, and Liechtenstein (members of the EFTA), and the United Kingdom. Additionally, first-quarter figures for China and Europe were also not encouraging, experiencing a 46% drop.
Tesla enters the drone market (eVTOL)
Morgan Stanley, the U.S. financial services giant, stated that “China produces more drones in one day than the United States does in a year.” Tesla’s entry as a competitor in the future eVTOL (electric vertical takeoff and landing) market would mean that Musk might shift his focus from electric cars to drones, in addition to causing China to adjust its plans and leadership in the market.