Tesla Inc (NASDAQ: TSLA) is slated to deliver its first Model Ys manufactured at the Berlin-Brandenburg facility as CEO Elon Musk officially launches the German Gigafactory on Tuesday.
Munster reiterates his bullish stance on Tesla
According to Loup Ventures’ Gene Munster, there are three reasons why the Giga Berlin is an important part of the Tesla story. This morning on CNBC’s “Squawk Box”, he said:
First, it increases their overall production by 25%. Second, manufacturing in Europe does allow an advantage in terms of gaining market share. And third, it can increase profitability. When I put these together, I would say this will keep the momentum going.
Munster is incredibly bullish on Tesla and expects the EV maker to be a $2.50 trillion company in the not-so-distant future.
Munster expects better-than-expected deliveries
The founder and managing partner of Loup Ventures is convinced that Tesla will beat the estimate for 312,000 deliveries in the March quarter. In comparison, the leading U.S. electric cars manufacturer delivered 308,600 vehicles in Q4.
So far, Tesla has been catering to its European customers with vehicles produced and exported from its production plant in Shanghai, China. The Texas-headquartered company expects its German facility to eventually produce about half a million vehicles per year.
The development, however, remains insufficient to impress the long-term Tesla bear, Gordon Johnson.
The post Tesla officially opens Giga Berlin: what’s next for the stock? appeared first on Invezz.
Source: https://invezz.com/news/2022/03/22/tesla-officially-opens-giga-berlin-whats-next-for-the-stock/