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“We are confident that we will have a very, very compelling Electric car you can build for $ 25,000, “the businessman said on Tuesday (local time) at Tesla’s” Battery Day “in Fremont, Calif. Customers still need to be patient, because the prerequisite for prices to fall So drastic are drastic cost reductions in battery production Musk thinks he can do it, but only in about three years.
An entry-level model for $ 25,000 could fuel Tesla’s success. However, this price for Germany cannot simply be converted to € 21,400 using the exchange rate. The Model 3 is offered in the United States from a list price of $ 39,990, which corresponds to 34,200 euros. In Germany, the price list for the Model 3 only starts at 42,900 euros, also because in this country VAT always has to be included and the adjustments for the German market cause costs.
With the tech billionaire primarily delivering dreams for the future, the high expectations of the event, in which observers had speculated on groundbreaking innovations in car battery manufacturing, were ultimately not met. Efficient and inexpensive batteries are a prerequisite for electric mobility to establish itself in the mass market. Analysts have a lot of confidence in Tesla. The tension was correspondingly high.
But even if the Tesla boss once again demonstrated and announced a lot, overall, battery costs will be cut in half thanks to technical advancements and the range of electric cars will be vastly increased, initially it was just a matter of promise. in the medium and long term. Musk had already dashed hopes for an immediate breakthrough the night before by explaining on Twitter that Tesla’s innovations in battery technology should only be felt in larger production volumes starting in 2022.
Despite this warning, investors reacted disappointed, letting stocks, which had already exited regular US trading at less than 5.6 percent, slide another 7 percent after hours. However, with a price increase of more than 400 percent in the current year, Tesla is one of the biggest fliers on the market, so the opportunity to make a profit is favorable. With a market value of a good 395 billion dollars (almost 338 billion euros), the group is by far the most sought-after automaker in the world.
Even if the battery event wasn’t entirely convincing, Tesla fans currently have every reason to be happy. Because while the corona pandemic is making it harder to build the overall auto industry, Musk sees his company on the road to success. “We are doing very well in 2020, we will probably achieve growth of 30 to 40 percent despite difficult circumstances,” Musk said at Tesla’s general meeting ahead of “Battery Day.” He made it clear that Tesla is sticking to its ambitious annual goal of delivering around 500,000 electric cars. That would be 36 percent more than the previous year.
“While it went down for the rest of the industry, it went up for Tesla,” Musk said triumphantly. Fans celebrated the 49-year-old tech billionaire with a horn concert, as the shareholders’ meeting in front of the Tesla car plant in the US was joined by a drive-in-style outdoor stage due to the pandemic. The mood was excellent given the recent wave of success and Musk received many accolades after confirming annual goals and the most recent milestone achieved in the first four consecutive quarters of consecutive earnings.
Tesla shares under pressure after battery day
After the Tesla event the night before, the stock price fell on Wednesday. NASDAQ shares fell 10.34 percent to $ 380.36. However, they had previously risen nearly 30 percent in just over two weeks from the recent low of $ 330.
The electronic sedans maker’s statements on drive cell performance and costs were more ambitious than expected, wrote analyst Philippe Houchois of US broker Jefferies. On the other hand, there was little news on the issues of the million-mile battery and the strategy for fixed electricity storage.
Tesla-Chef Elon musk He also wants to bring a Tesla to market at a bargain price, which will be made at $ 25,000. Investors should put this announcement to the test, warned JPMorgan analyst Ryan Brinkman. The company has already announced that it will enter the market in 2021. Other products introduced three years ago, such as a tractor-trailer or the roadster, were still on the way.
(dpa-AFX)
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