The Silicon Valley car maker could be on its way to becoming “the” leading luxury EV maker in China, analysts at Morgan Stanley say.
Tesla Inc. may be able to ramp up production in China faster than anyone believed, possibly landing the Silicon Valley car maker as the “leading luxury EV player” in the country, analysts at Morgan Stanley said Wednesday.
The analysts kept their rating on the stock as the equivalent of neutral and a price target of $230, a 10% downside over Wednesday’s prices. The Chinese market will remain “highly competitive,” however, and Tesla’s volume is likely to peak at 254,000 vehicles sold in 2024, before falling to the 160,000 to 170,000 range by 2030, they said.
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