Tesla TSLA to Become a $2 Trillion Company within 2 Years, Says Wedbush Analyst Dan Ives

Tesla TSLA to Become a $2 Trillion Company within 2 Years, Says Wedbush Analyst Dan Ives

Photo: TD Ameritrade Network

Tesla (NASDAQ: TSLA) will hit $2 trillion in value in a couple of years, as it is a disruptive technology company, says Wedbush Securities analyst Dan Ives.

The analyst talked about Tesla and its prospects at the TD Ameritrade Network. In his opinion, EVs continue to spread and gain popularity in the world. This dynamic will primarily benefit Tesla, which is the leader in electric vehicle manufacturing. Ives previously said that, over the next five years, demand for electric vehicles will grow from ~ 3% to 10%, and Tesla will capture a disproportionate share of the market, especially in China.

Tesla is the only manufacturer in China without a partner, and its Giga Shanghai is the backbone for the company. Ives expects stunning demand from China in 2021 and 2022, as well as other markets, citing Giga Shanghai as Tesla's main competitive edge.

Meanwhile, the new US President Joe Biden also intends to promote the development of EVs, which gives a bullish political background. An additional boost can be obtained in the form of increased EV credits for electric vehicles.

Ives said analysts continue to make the mistake of evaluating Tesla only as a car company. But he believes Tesla is a disruptive technology company, and that is how it should trade. Tesla continues to bring its vision and flexibility to life, so the analyst thinks that, in a year or two, we might see the company worth $1 trillion, and in a couple of years it could be $2 trillion.

The analyst stressed that investors should consider—and many are already considering— Tesla in terms of how much it costs not only as an automotive business, but also for its energy, solar, and battery businesses. Therefore, the cost of Tesla is more than justified.


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About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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