Berkshire Hathaway Vice Chairman Charlie Munger spoke extremely of Elon Musk’s electrical car firm Tesla, calling it an incredible feat within the American auto business.

“I used to be definitely shocked that Tesla did in addition to it did,” Munger mentioned in an interview with CNBC’s Becky Quick that aired on “Squawk Box” on Tuesday. “I don’t equate Tesla with bitcoin. Tesla has made some actual contributions to this civilization. Elon Musk has accomplished some good issues that others could not do.”

“We’ve not had a profitable new auto firm in a protracted, very long time. What Tesla has accomplished within the automotive enterprise is a minor miracle,” Munger added.

Tesla grew to become probably the most worthwhile corporations on the earth, with a market capitalization over $600 billion. The automotive marker delivered 343,000 vehicles within the final quarter.

Shares of Tesla are down 45% this 12 months after a close to 50% rally in 2021 and a whooping 743% advance in 2020.

Hearken to the complete interview with Munger on the Squawk Pod podcast.