Tag: Tesla

Musk says Tesla is open to supplying batteries and technology to competitors

In response to reports that German automakers are working feverishly to catch up to Tesla in the electric vehicle segment, Elon Musk tweeted that the U.S.-based EV maker that he helms is willing to help them close the gap. The Tesla CEO tweeted that the company is open to licensing software, supplying powertrains and batteries, and even sharing access to closely-held technologies like Autopilot.

This wouldn’t be the first time that Tesla

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Tesla stock can spike another 20% as it extends its lead against rival automakers, Jefferies says

Elon Musk
Elon Musk

Jae C. Hong/Associated Press

  • Tesla is rapidly extending its lead over legacy automakers, and its dominance can drive shares 20% higher over the next year, Jefferies analysts wrote Thursday.

  • The firm lifted its price target to $1,200 from $650, citing positive developments in the automaker’s battery technology, vehicle range, and business model.

  • The coronavirus pandemic will serve “as an accelerator of the transition to EV and renewables,” the team led by Philippe Houchois wrote.

  • An upside scenario fueled by a major battery breakthrough could send shares as high as $1,400 by June 2021, Jefferies added.

  • Watch Tesla trade

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