Bernstein Reports Electric Vehicles May Become Cost Competitive
Bernstein analyst Max Warburton reported in a note that electric vehicles may make up a “much larger part” of the vehicle fleet in future years than what was previously expected.
Warburton noted Tesla Motors, Inc. (NASDAQ: TSLA) “extraordinary” claims regarding low battery costs. The analyst remarked that, if proven correct, suggests that the cost of batteries may decline to enable a competitive electric vehicle cost.
Bernstein conceded that the prior 2011 note may have been “too bearish." The prior note established a tone and conclusion that electric vehicles would have a difficult time becoming cost competitive.
The analyst reported that Nissan and Renault are pest placed among the mainstream OEMs to attain a full scale battery production.
Shares of Tesla closed at $230.97 on Thursday. The stock is currently trading at $232.91, up 0.84%.
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