The top executives in the corporations that own Nevada Power and the Storey County Tesla plant squared off over the weekend.
At an annual shareholders meeting of Berkshire Hathaway, parent corporation of the Nevada power utility, Warren Buffett expressed doubts about Tesla CEO Elon Musk’s announced plans to create his own insurance product, a response to the higher rates Tesla owners must pay.
“The success of the auto companies getting into the insurance business is probably as likely as the success of the insurance companies getting into the auto business,” Buffet said. “I’d bet against any company in the auto business” that gets into the insurance field.
Buffet’s observation may have been fueled by the fact that his Berkshire Hathaway umbrella firm also owns Geico.
Musk later responded with something of a non-sequitur tweet that read Buffet believes a Tesla is “1,000 times more fun” than a Honda.