Tesla: Goldman Sachs flat after Battery Day - on hold

(CercleFinance.com) - Tesla presented the brand's development plans at its Battery Day, held on 22 September.
Following these announcements, Goldman Sachs confirmed its neutral rating on the share with a target of 400 dollars.

Tesla stressed the importance of increasing battery capacity at the industry level to support transportation. These developments will accelerate the transition to electric vehicles worldwide.

"Tesla announced that it will be manufacturing its own battery cells, in addition to continuing sourcing battery cells from existing suppliers such as Panasonic, LG Chem and CATL. The company believes that with its own cells it can achieve 100 gigawatt hours of capacity in 2022, and 3 terawatt hours by 2030," Goldman Sachs says.

"Tesla talked about a long-term target of 20 mn vehicles per year. Recall that 500K vehicles equates to about 35 GWh of capacity, so 1.5-2 TWh could likely support Tesla's 20 mn target" the broker adds.


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