Tesla might become a multi-trillion dollar company, as claimed by a Wall Street analyst. Previously, New Street Research expert Pierre Ferragu attended the EV maker's event at the Gigafactory Berlin.
During his visit, he was able to make major observations at the manufacturing plant. One of the things that Ferragu shared is Tesla's unprecedented demand.
Recently, the giant automaker made headlines after it decided to increase the prices of its popular electric vehicles.
Although this is the case, it seems like the demand for its advanced EVs is not affected by price hikes. This was seen when the fuel price increases happened in the first months of 2022.
During this period, Tesla confirmed that the demand for its EV surged in other parts of the globe, especially in the United States.
Tesla to Value $10 Trillion by 2030?
According to Electrek's latest report, Tesla recently stopped taking orders because of its backlogs. This means that the EV maker was having a hard time meeting the consumers' demands.
Now, Ferragu claims that the demand for Tesla EV units is not something that was achieved by other automakers before.
"Tesla is facing unprecedented demand. Everybody I know at Tesla and with whom I could discuss that topic agrees that demand is way above what hopes were a few years ago," explained the Wall Street analyst.
He further explained that, since EVs are becoming more and more popular, Tesla and other automakers transitioning to EV production can dictate the electric car market by simply enhancing their manufacturing capacities.
As of press time, a Tesla share values around $275. But, with the unprecedented demand for the company's EVs, Pierre made a bold prediction, saying that the automaker's stocks can reach up to $530.
Aside from the value of the EV maker's shares, the Wall Street expert said that the long-term effect of the rising demand can even allow Tesla to have a value of $10 trillion as early as 2030.
But, he explained that the carmaker still needs to achieve its goal of 20 million EV units yearly production.
What Makes Tesla Different from Other EV Makers?
Via its official website, Tesla explained why it is different from other EV makers in the market.
Aside from creating advanced electric cars, the automaker is also well-known for its autonomous feature called FSD (Full Self-Driving).
On the other hand, the automaker also offers other clean energy solutions, such as its Solar Roof, Powerpack, and Powerwall.
These are just some of the things that make Tesla standout in the rising EV industry.
Previously, the Tesla Giga Texas was seen stacking some structural battery packs.
On the other hand, cheaper Tesla EVs are expected to arrive in the European market.
For more news updates about Tesla and other EV makers, always keep your tabs open here at TechTimes.
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Written by Griffin Davis
