American Tesla plans to strengthen its position in the market by producing cheaper, high-performance electric vehicles. Electric vehicle maker Tesla aims to strengthen its leadership position in the electric vehicle market by launching new projects in the field and acquiring promising technology companies.
Tesla (TSLA) shares soar 31% in 5 years
Tesla's total revenue was $ 6.3 billion, according to the financial results for the third quarter of fiscal 2019, which was published by the company at the end of October this year. As a forecast, the report highlighted some key events that are directly related to the launch new products in the coming years. For example, the report notes that the pilot production of the Model 3 electric vehicle in Shanghai began ahead of schedule. The company is also ahead of schedule for the production of Model Y production and expects to launch the model by the summer of 2020. A limited launch of the Tesla Semi electric truck is expected by 2020.
Tesla has a market cap of $ 73 billion
Recently, in October of this year, the news outlet CNBC reported that Tesla had acquired Hibar Systems, which specializes in high-speed battery systems for electric vehicles. According to CNBC, the reason for the company's new deal could be that the American electric vehicle manufacturer is seeking to bring cheaper and higher-performance electric vehicles to the market. Earlier, in February this year, Tesla acquired Maxwell Technologies, a leading developer and manufacturer of innovative energy storage systems for $ 218 million.
Argus analysts estimate the upside potential for Tesla (TSLA) shares to $ 396 (+ 24%) per share, although the price is currently much higher than analysts' estimates.