Shulou(Shulou.com)11/24 Report--

Tesla, a US electric car maker, has risen 12 per cent in the past three months, much more than the S & P's nearly 5 per cent decline over the same period, Beijing time. Mark Delaney, an analyst at Goldman Sachs, believes that Tesla has more room to rise for three reasons.

First of all, Tesla's cost per electric car tends to fall. The cost of selling each Tesla electric vehicle fell from $70,000 in 2017 to $36000 in 2021. Although costs rose in the second quarter due to factory shutdowns, factory start-up costs and input cost pressures, however, with the commissioning of Tesla's super factories in Berlin and Austin, and a decline in the proportion of vehicles made at the Fremont plant in California (the plant is renovated by a diesel locomotive factory, the cost is higher than Tesla's specially built electric car factory), scale and battery improvements, the cost of selling each car will show a downward trend.

▲ Tesla's factory in Germany

Second, Tesla is one of the beneficiaries of the inflation reduction Act (IRA). IRA encourages the development of a North American-based supply chain of electric cars, while Tesla has a high proportion of local manufacturing, and the Model 3 and Y are recognized as the most manufactured vehicles in the United States. obviously, the bill is a positive signal for Tesla.

Third, the supply of electric vehicles exceeds demand, and the market demand is exuberant. As cars move towards the era of electric vaporization, more and more consumers will turn to electric cars, similar to other technological inflection points, such as the transition from feature phones to smartphones. But as the supply of new batteries and components takes time to assemble, the electric car industry is likely to be subject to supply constraints in the medium term.

Overall, Goldman Sachs believes that given Tesla's leadership in electric vehicles, including its vertical integration ability, the close connection between hardware and software, its charging stations and brand ecosystem, and its focus on broader clean transportation, Tesla may be ready. " Considering that Tesla has introduced important Y-shaped products in new factories in Germany and Texas and increased the software revenue portfolio in the long term, we expect Tesla's profit margin to expand in the medium term.

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