Tesla Analyst Says 2022 Could Be An Inflection Point For EV Maker; Sees Capacity Double By End Of Year

Benzinga2021-12-28

Tesla Inc is heading into an inflection point next year as it looks to double production capacity to about 2 million units annually with the opening of two new Giga factories by the end of 2022.

The Tesla Analyst: Wedbush analyst Daniel Ives has maintained an Outperform rating and a price target of $1,400 a share on the Tesla stock.

The Tesla Thesis: A Tesla bull, Ives, said the Elon Musk-led electric vehicle company has navigated the ongoing chip supply shortages better than all other automakers in the past six months and is well-positioned to leverage that in 2022.

Ives pointed out that the Austin, Texas-based headquarter will further benefit with higher capacity when two of its Giga factories double capacity to nearly 2 million vehicles annually.

In Berlin, Tesla’s Gigafactory is expected to secure the start of production approval in early 2022. The electric vehicle maker is expected to wrap up construction at Giga Texas by Dec. 31.

“Right now Tesla has a high-class problem of demand outstripping supply with this issue now translating into ~5-6 month delays for Model Ys, some Model 3s in different parts of the globe,” Ives wrote in a note.

“The key to alleviating these issues is centered around the key Giga openings in Austin and Berlin which will alleviate the bottlenecks of production for Tesla globally.”

Ives has estimated Tesla still has some red-tape bureaucratic issues to resolve in Berlin before it begins production in the “January/February timeframe.”

The brokerage has previously estimated EVs will globally represent 10% of autos by 2025 and 30% by 2030. According to Ives, China could represent 40% of Tesla’s deliveries next year, or worth $400 per share in 2022.”

Why It Matters: Tesla delivered record third-quarter sales but said it was struggling with chip supplies, forcing its Musk to say the electric vehicle maker does not have a demand problem, but it faces a production ramp-up issue.

Legacy rivals such as Ford Motor Co General Motors Co were forced to halt production this year at various U.S. factories due to the chip crisis.

TSLA Price Action:Tesla shares gained 2.5% Monday, closing at $1,093.94 a share.

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精彩评论

  • MuffinsDaddy
    2021-12-28
    MuffinsDaddy
    K
  • Junpani
    2021-12-28
    Junpani
    Like
  • KYHBKO
    2021-12-28
    KYHBKO
    2022 will see the price rise further with the 2 GF starting their production. 2 million EV production capacity per year. the rest of the auto makers will need to up their game 
    • KYHBKO
      with the expansion of Fremont, China and GF Texas & Berlin coming into production, it would be about 2 years to reach this or lesser.
    • KYHBKO
      with improved earnings, the PE of Tesla can drop. the price looks lofty as a car maker. Tesla is more than a car maker.
    • KYHBKO
      it would take time for the new GF to ramp up their production. this is an optimistic target
    • KYHBKO
      I agree that it is optimistic
    • KYHBKO
      yes. the supply needs to be matched with demand
  • kukumolu
    2021-12-28
    kukumolu
    It will rise alot faster with mass adoption
  • HyunBin
    2021-12-28
    HyunBin
    Like 
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