Tesla: EV Adoption at Tipping Point, Says Analyst
30/10 01:55
Remember when Tesla (TSLA) was having a difficult 2021? Well, those days are long gone now. The EV leader’s past week has been marked by the stock surging to continuous new highs boosted by positive headlines.
First came a blistering Q3 beat, followed by Hertz announcing it would order 100,000 Tesla vehicles by the end of next year.
Hertz was once again the catalyst for further share gains when on Wednesday it became known the car rental company has struck a deal with Uber to supply the ride hailing service with 50,000 Tesla vehicles for drivers to rent. Beginning on November 1, Uber drivers will be able to rent Teslas in a number of cities including LA, SF, Washington DC, and San Diego.
“With the flagship Hertz deal earlier this week kicking it off, this Uber partnership is the largest expansion of EVs on a mobility platform in North America,” said Wedbush analyst Daniel Ives. “We believe this starts to lay the groundwork for the long awaited robotaxi network over the next decade from Tesla with the Uber/Hertz partnership planting the seeds for where this is all directionally heading in our opinion.”