XPEV - Tesla Bull Shrugs Off Current Phase As 'Pause Into Next Phase Of Growth Story' Calls UAW Strike A 'Win-Win' For EV Maker | Benzinga
Tesla, Inc. (NASDAQ:TSLA) shares have been trading in a range since the pullback that followed the release of the electric vehicle maker’s second-quarter results on July 19. Bullish analyst Dan Ives, however, isn’t losing sleep over the current lackluster phase.
UAW Strike Win-Win For Tesla: There’s a minimal possibility of Tesla employees demanding more pay or clamoring for unionization in the wake of the United Auto Workers’ union strike that has brought operations standstill at the Detroit big three, said Ives in an interview with CNBC on Tuesday.
It’s a win-win situation for Tesla, given the likelihood of the Detroit automakers passing on the higher costs to the consumers in the eventuality of a deal with the UAW, the analyst said.
“This is a gut punch for [Mary] Barra and [Jim] Farley,” he said.
He suggested that if General Motors Corp. (NYSE:GM), Ford Motor Co. (NYSE:F), and Stellantis N.V. (NYSE:STLA) took the UAW deal, it would essentially impair their business models for the next decade.
These automakers will be up against a non-union Tesla, non-union Rivian Automotive, Inc. (NASDAQ:RIVN), and foreign ...