Tesla Needs Period of ‘Peace and Execution,’ Major Shareholder Says

Tesla Needs Period of ‘Peace and Execution,’ Major Shareholder Says

Baillie Gifford portfolio manager James Anderson discusses Tesla’s production issues.

One of Tesla Inc.’s biggest investors has called for the Elon Musk-led carmaker to keep its head down and focus on performance.

“We are very supportive, but we would like peace and execution at this stage,” James Anderson, a partner and portfolio manager at Baillie Gifford & Co., Tesla’s fourth-largest shareholder, said Wednesday in a Bloomberg Television interview. “It would be good to just concentrate on the core task.”

Anderson didn’t comment on Musk specifically or elaborate on Tesla’s issues while speaking from Allen & Co.’s Sun Valley conference. The electric-car maker’s chief executive officer has made headlines by attacking journalists and Wall Street analysts in recent months as the company has struggled to ramp up production of its Model 3 sedan and stem losses.

Baillie Gifford owned 12.8 million shares as of the end of March, a stake that’s worth more than $4 billion at current prices. Only Musk, T. Rowe Price and Fidelity owner FMR LLC have a bigger position, according to data compiled by Bloomberg.