Tesla’s Shares reached a record price to the close of trading 949,92 dollar opening at the level of 919 dollars. The increase is due to the news about sales of electric cars in China.
According to the China Association of passenger vehicles (CPCA), in may, Tesla sold 11 095 elektrolizerov Model 3 Chinese buyers, according to Reuters. At the same time, cars were made at the company in Shanghai.
overall, sales of Tesla cars in China increased by 205% after the April downturn caused by exposure Covid-19 on consumers and business in China. Tesla has sold less than 4000 cars in China in April.
the Previous record ($917,42) by the close of trading shares of American autowinder established in February this year, when Shanghai started the Assembly plant.
Tesla has received significant state support for building your car. Local banks invested $ 1.6 billion into the venture, and the authorities helped Tesla to quickly obtain permission to purchase land, while China has allowed Tesla to manage the plant independently, without creating a local joint venture.
Shanghai has helped Elon musk to reopen the plant after the start of the pandemic Covid-19. Free supplied personal protective equipment and tools for processing premises and grounds. Last year, local banks invested in the construction and commissioning of the plant about $1.6 billion.
Analyst Dan IVS (Dan Ives) of Wedbush Securities believes that the penetration of electric vehicles should increase significantly over the next 12-18 months. The analyst maintains neutral rating and a price target of $800. Ives also noted that in a bullish scenario, the price of securities the Tesla can go up to $1350.
the Company JL Warren Capital, specializing in equity research in new York, said that sales of assembled in China Model 3 was due to discounts and subsidies. In itsher a note to investors last week, researchers at JL Warren Capital said that the demand for cars varies in connection with changes in prices and subsidies available to buyers in China.
Soon the subsidies will cease to act, that could adversely affect sales of Tesla in the country. Some consumers are delaying the purchase of electric cars, hoping to lower prices after government subsidies will be cancelled.
