Tesla Inc TSLA officially opened its new German electric vehicle plant Tuesday as the company aims to diversify manufacturing outside of the U.S. and China. Following the news, Jim Cramer said everything is lining up for Tesla at just the right time.
What To Know: "I think Tesla stock is about to have a big run," Cramer said Tuesday on CNBC's "Squawk On The Street."
He highlighted analyst expectations that Tesla will reach an overall run rate allowing it to produce about 2 million units by the end of the year.
Tesla also seems to have figured out how to handle supply chain constraints better than the competition, Cramer said. Tuesday's ribbon-cutting ceremony at Gigafactory Berlin represents the de-risking measures the company is taking in relation to China, he said.
"Tesla stock could be a major leader here," Cramer said.
Tesla makes "the best" electric vehicles, the CNBC host said. He compared Tesla's stronghold on the electric vehicle market to Ford Motor Co's F market dominance upon the release of the Model T and Model A.
"Everybody's got electric cars, but he [actually] sells electric cars," Cramer said of Tesla CEO Elon Musk.
TSLA Price Action: Tesla has traded between $546.98 and $1,243.49 over a 52-week period.
The stock was up 2.67% at $945.79 Tuesday morning.
Photo: courtesy of Tesla.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.