Top Tesla analyst says Musk China visit means ‘he’s back’ and fully committed to EV maker

[Pelican Press 0]

Top Tesla analyst says Musk China visit means ‘he’s back’ and fully committed to EV maker

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, and took the social media platform private in late 2022. Musk has also faced increased pressure from Tesla investors after his controversial compensation package was rejected by a Federal judge in Delaware. TSLA YTD mountain Tesla stock. “Investor concerns around whether Elon Musk was ‘all in’ on Tesla have been weighing heavily on the stock since the compensation package was rejected by Delaware judge,” Jonas said. “Even the smallest gesture of commitment (an unannounced trip to Beijing) has elevated meaning here, combating concerns over Musk’s commitment to Tesla relative [to] the broader Musk ecosystem of companies,” such as SpaceX, he said. To be sure, Musk’s visit to China doesn’t mean a breakthrough for FSD technology will come sooner. Musk had originally asserted that FSD would come to Tesla in two years in 2015 , 2016 and again in 2017 . But clearing the China hurdle represents a milestone in the company’s effort to achieve FSD, as Beijing lawmakers previously considering banning Tesla FSD over security concerns . Tesla stock has faced increased pressure in 2024 on several fronts, and has still slumped 22% even after Monday’s rally. The company delayed a rollout of a more affordable $25,000 electric sedan, seen as a key initiative to help Tesla combat slower-than-expected EV sales. Despite missing on the top and bottom lines in its latest quarter, the stock had jumped after Musk signaled production of a budget EV could start as soon as 2025. Musk did not provide more detail when fielding questions on last week’s earnings call, however.

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Investment strategy,Markets,Tesla Inc,China,business news
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