Tesla races back into the trillion-dollar market cap club
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Tesla (TSLA +4.3%) recorded another gain on Wednesday morning as it tracked toward a seven-session winning streak and a one-week return of over 25%.
The electric vehicle stock attracted attention this week after opening up the Gigafactory in Germany and resuming normal production in Shanghai.
German Chancellor Olaf Scholz and German Economy Minister Robert Habeck were with Elon Musk at the launch of Gigafactory Berlin-Brandenburg, located in the town of GrÃ¼nheide. Musk called the opening another step towards a sustainable future.
The market cap on Tesla (NASDAQ:TSLA) is back to close to one trillion dollars as the company rejoins Apple, Microsoft, Alphabet and Amazon in the exclusive four-comma club.
Looking ahead, Morgan Stanley has noted Tesla's (TSLA) big advantage may be with level manufacturing.
Analyst Adam Jonas said Tesla is developing technology that may ultimately be in position to make a carâs body out of a single piece of casted aluminum alloy as a fuselage into which it can inject its structural battery pack. "A fusion of the battery into the structural integrity of the vehicle has the ability to significantly improve vehicle range per unit of mass, driving further cost savings at the vehicle level across a wider range of sustainably sourced battery metals," he wrote. That leaves open the possibility that Tesla (TSLA) could one day introduce vehicles with a starting point as low as $15,000 in order to penetrate key emerging markets like India.
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