In recent sessions, tesla’s stock has increased by 21%. And with that many traders are now expecting that the Chief Executive of tesla i.e. Elon Musk will disclose improvements that can be done in the battery.
Analysts believe that this improvement can lead to advancement in storage which can in turn energize the rally. One of them suggested some changes in the electric car.
He suggested that for faster manufacturing and reducing the costs, it is better to use a technology that has a dry electrode cell in it.
It is also known that electric cars become more expensive because of the use of a battery as compared to gasoline-powered cars.
Therefore, for electric cars like Tesla, it is expected that the company should work on providing equal footing and allowing usher in mainstream acceptance. The above-mentioned idea could help its customer save a lot of money and have a long-lasting battery.
Recently, tesla was removed from a group of companies that had to join the S&P 500 before making a historic fall in the production on 8th September.
In August, Elon Musk tweeted about the plan of producing 50% more energy density batteries in the coming 3 to 4 years. It has the potential to start an electric airplane. Those changes will help tesla lessen its coalition with Panasonic.
By making another bold statement, Elon Musk also said that by 2020, US markets will see a new version of tesla which will have no drivers and it was termed as ‘Robotaxis’.
As per Refinitiv, tesla is trading its expected earnings in the coming year at 150 times which is double than what was expected in the 5yr average.