Berlin Production Increased
Tesla’s German plant in Brandenburg near Berlin has ramped up production to 4,000 cars per week, quadrupling from May when CEO Elon Musk had compared investment in Tesla’s new plants to “gigantic money furnaces.” The Berlin plant hit the production target three weeks ahead of the production schedule that was originally anticipated. At its new weekly output, Tesla’s plant in Germany would have annual output of over 200,000 vehicles. The maximum capacity planned for the Brandenburg plant is 500,000 cars a year, nearing 10,000 per week, the company has said. Output from the plant in Germany is now a third of the Model Y output in Shanghai, where Tesla planned to keep an average total output of 13,000 Model Ys per week and a further 7,000 Model 3s in February and March, according to the production plan. The ramp up in output in Germany would allow Tesla to use a larger share of its Shanghai production for markets outside Europe, including Thailand, where it has just launched sales. Tesla has also begun assembling batteries in Germany that will soon be used in vehicles produced at the plant. The U.S. electric-vehicle maker is also preparing to produce cell components such as electrodes, some of which will be sent from its site in Gruenheide in the state of Brandenburg to the United States. Tesla is due to update analysts on its strategy on Wednesday when the company has its investor day.
TSLA Stock Price Forecast
The current consensus among 45 analysts regarding Tesla Inc’s stock forecasts has the average analyst target price for Tesla Inc over the next 12 months at USD 233.82, which implies an upside potential of around 18% from the last closing price of USD 196.88. Additionally, the average analyst rating for Tesla Inc is a “Strong Buy”, which indicates a positive sentiment towards the company’s future prospects.
Stock Target Advisor, a stock analysis platform, has also given a slightly bullish outlook for Tesla Inc, based on 11 positive signals and 5 negative signals. This indicates that the company’s stock may have potential for growth in the near future.
However, it is important to note that Tesla Inc’s stock price has experienced significant volatility in the past year. While the stock price has increased by 22.84% over the past month, it has declined by 27.07% over the last year. Furthermore, the stock price has changed by -5.49% over the past week, indicating that short-term fluctuations may occur.
