Ross Gerber, the president and CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla Inc TSLA bull and investor, said on Sunday that he is ‘bored’ of the company’s Model Y SUV.
What Happened: Earlier this month, Gerber said that he made a reservation for a Rivian Automotive Inc RIVN R1S SUV to replace his Model Y. Gerber has seemingly received the vehicle.
On Sunday, he wrote that the vehicle from Rivian is a ‘wonderful EV.’ The tech needs some work as compared to a Tesla, he said, while adding that Tesla has a huge tech moat. However, high-end EV buyers are buying Rivian in Los Angeles, he said.
In a later post, Gerber explained the decision to swap his Model Y and said, “I’m bored of the Model Y. Sorry. It’s time for a new model Y. It is what it is.”
The Tesla investor also reiterated his love for Tesla, saying he is a Tesla fan first and simply likes other EVs as well.
“Why can’t I like many EVs? I like several football teams,” Gerber said.
Why It Matters: Gerber first announced his decision to replace his Model Y with a Rivian in response to Tesla CEO Elon Musk‘s support for a post on X, which accused Jewish communities of promoting hatred against whites. Musk later apologized for the post, but Gerber said earlier this month that he placed an order for the R1S all the same.
“What will come first. My Cybertruck ordered 4 years ago… Or the Rivian for my wife. Ordered yesterday,” he then wrote.
According to Gerber Kawasaki’s 13F report at the end of the third quarter, Tesla remains the firm’s largest position, with shares worth approximately $100 million.
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