By Michael Elkins
In an interview with CNBC today, billionaire investor and vice chairman of Warren Buffet's Berkshire Hathaway (NYSE:BRKa), Charlie Munger spoke highly of Tesla (NASDAQ:TSLA), calling it an amazing feat in the American auto industry.
"I was certainly surprised that Tesla did as well as it did," Munger said in an interview with CNBC's Becky Quick that aired Tuesday on "Squawk Box." "I do not equate Tesla with bitcoin. Tesla has made some real contributions to this civilization. Elon Musk has done some good things that others couldn't do."
"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 said.
Shares of Tesla are down 45% this year after a near 50% rally in 2021 and a huge 743% advance in 2020.
Shares of TSLA are up 4% in mid-day trading on Tuesday.