While Tesla stock sold off after its investor day failed to provide details on new EV models, former Ford CEO Mark Fields heard enough to remain confident in the company's future.
In particular, Wednesday's event was more like a conventional investor day and mostly lacked CEO Elon Musk's usual grandiose claims, he said in a CNBC interview on Thursday, though he's less sure of its goal to sell 20 million vehicles by 2030.
The company also showcased other executives, which could alleviate concern that Musk has been too distracted by his other business ventures. They also talked about "meat and potato" topics like cutting costs, improving margins, and EV-charging infrastructure.
The keys to winning the EV race will come down to product appeal, software or user interface, controlling cost, and consistent execution, he said.
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