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Tesla investor defends electric carmaker’s soaring share price

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November 06, 2020 at 12:24PM

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Investment manager Baillie Gifford says rise is no fluke as manufacturer stands to benefit from move away from fossil fuels

One of the biggest investors in Tesla has defended the explosive growth in the US electric carmaker’s share price, arguing that it is “far from an aberration”.

Baillie Gifford, the Edinburgh-based investment manager that runs the Scottish Mortgage Investment Trust (SMIT), has been the second-biggest winner from Tesla’s rocketing share price, beaten only by Tesla’s outspoken chief executive, Elon Musk.

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