Tesla’s first Chinese produced Model Y cars in China will push up prices, it stock price and analyst’s expectations

The Chinese Tesla Model Y was delivered for the first time in China, pushing up Tesla’s stock price and analysts’ expectations for Tesla.

Tesla China officially declared that the Chinese Model Y was officially released. On Monday, the Chinese Model Y officially started delivery in Shanghai.

In the past week, Tesla’s stock price has been relatively stagnant, hovering between US$820 and US$860. However, Tesla’s first delivery of Model Y in China has added some momentum to the company’s stock price.

As of the close of US stocks on Tuesday, local time, Tesla’s stock price rose 2.23% to close at $844.55, and the company’s market value reached $80.55 billion.

Wall Street analysts’ expectations for Tesla’s stock have also improved. For example, Jefferies analyst Phillipe Houchois upgraded Tesla’s stock rating to ‘hold’ and set Tesla’s target The price increase is based on Tesla’s latest delivery data.

Hojo’s stated that Tesla challenges the automotive industry’s business model at multiple levels, and it seems that it will still be a benchmark. Although Tesla faces competition from brands such as Weilai Automobile, Ideal Automobile, and Xiaopeng Automobile in China, the company still has an undeniable lead in China.

Last week, the data published by CPCA showed that in December 2020, Tesla China sold 23,804 Chinese Model 3s, breaking the previous month’s record, increasing by 10.18% month-on-month, accounting for China’s new energy vehicle sales. 11% of the total.

In November 2020, Tesla China sold 21,604 Chinese produced Model 3s, almost double the 12,143 in October last year.

In 2021, with the start of mass production of the Chinese Model Y, Tesla’s production and sales in China are supposed to grow faster.