2024-05-29 15:15:56 ET
Summary
- Tesla, Inc. is encountering unprecedented business challenges.
- With the EV industry approaching maturity, competition is intensifying, customer demand is declining, and substitutes are becoming popular.
- Tesla has responded by doubling down on the EV pricing war it initiated in late 2022.
- In addition, the firm appears to be accelerating the development of its FSD platform and the launch of its Robotaxi service.
- We remain Bullish on Tesla, Inc. shares. Reiterate $492/share Price Target and Buy Rating.
Investment Conclusion
It is not Tesla, Inc.'s ( TSLA ) world anymore. The company is encountering its most intense competition ever. Customer demand for electric vehicles (EVs) in key markets is declining. In addition, hybrids and plug-in electric vehicles are gaining traction....
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Tesla: At A Crossroads