Why this Tesla analyst thinks Model Y production at Giga Austin will start in a week – Tesla Motors (TSLA)

After Tesla, Inc. (NASDAQ: TSLA) posted exceptional fourth quarter deliveries on Sunday, analysts’ unanimous opinion is that capacity building and product updates, as well as new product launches, are critical for the next phase of growth of the manufacturer of electric vehicles.

Tesla analyst: Wedbush analyst Daniel Ives has an outperformance rating and price target of $ 1,400 for Tesla shares, with a bullish price target of $ 1,800.

Tesla’s thesis: The paperwork is preparing for Giga Austin to start producing Model Y vehicles within the next 7-10 days, analyst Ives said in a note, citing the company’s analysis.

Stamping machines for the Model Y and testing are already in place and for the most part completed, with documents now filed by Tesla to officially start key production in Austin within the next week, he said. added.

Related Link: Tesla to Increase Controversial Self-Drive Package to $ 12,000 Starting Jan. 17: Elon Musk Confirms

According to the analyst, the launch of the Austin production site in early January is very important for Tesla to expand domestic and global production of the Model Y. The model vehicle is expected to have a huge year in 2022, he added. .

“We expect a formal groundbreaking ceremony over the next few weeks in Austin with Musk, which becomes the centerpiece of Tesla’s broader sourcing ambitions as well as the formal construction of its headquarters,” Ives wrote. in the note.

By the end of 2022, Tesla will have the capacity of around 2 million units per year, up from around 1 million now, the analyst said.

While Austin has a clear path to launch its flagship plant in the United States within the next week, Berlin still has some final bureaucratic issues to resolve before the launch begins in the January / February period, he said. added.

Tesla Price Action: Tesla shares closed Friday’s session 3.54% lower at $ 1,026.96.

Related Link: Why This Analyst Thinks Tesla Is A $ 2,500 Stock & When It Could Hit That Price Target

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