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Tesla Motors, Inc. (NASDAQ:TSLA) – Elon Musk Calls For Europe To Raise Nuclear Power Output — Issues Challenge On Radiation Concerns

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Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk has urged Europe to increase its use of nuclear power in response to Russia’s invasion of Ukraine.

What Happened: Musk took to Twitter to say that Europe should restart dormant nuclear power stations and also increase the power output of existing nuclear plants as they are “critical” to national as well as international security.

Further, the billionaire noted that nuclear power is better for global warming rather than burning hydrocarbons for energy, adding that the risk of radiation is much lower than most people believe.

The Tesla CEO said some people “mistakenly” believe that nuclear energy poses radiation risks, and issued a challenge to them.

“Pick what you think is the worst location. I will travel there [and] eat locally grown food on TV,” he said. “I did this in Japan many years ago, shortly after Fukushima. Radiation risk is much, much lower than most people believe.”

See Also: Over $4 A Gallon: Gas Prices Surge To Highest Levels In Over A Decade

Why It Matters: Musk’s comments assume significance as Europe is heavily dependent on Russian gas for their energy needs.

Russia — the world’s second-largest oil exporter — has Europe as its primary customer. It is feared that Russia may refuse to sell oil after Western nations imposed sanctions on the country following its invasion of Ukraine.

Musk’s comments also come after Russia attacked the Zaporizhzhia nuclear power plant in Ukraine — Europe’s largest — last week.

Despite running an electric vehicle company, Musk pleaded on Friday that the U.S. should immediately increase oil and gas production. Gas prices have surged as the escalating Russia-Ukraine conflict caused a spike in oil prices.

Price Action: Tesla shares closed 0.1% lower in Friday’s regular trading session at $838.29, but rose almost 0.7% in the after-hours session to $844.07.

Read Next: Netflix Becomes Nyetflix, Shutting Down Russian Service To Protest Ukraine Invasion

Photo: Courtesy of Elon Musk via Flickr

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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