Jonathan, an analyst at Canaccord, the investment bank, thanks to (Jonathan Dorsheimer), who will be Tesla on Monday.The target price was lowered to $812 from $974, a drop of 17%, but still maintained its "buy" rating on the stock.
Although thanks to Mo, he is still bullish on Tesla, but he is cautious about Tesla's new battery. Especially for the larger 4680 battery design, Tesla promises that the battery will have shorter charging time, longer mileage and lower cost.
Tesla recently began delivering the Model S Plaid, which claims to be the fastest mass-produced car in history, which can accelerate from zero to 60 mph in 2 seconds. But the company cancelled the Plaid+, in part because of the new battery design.
Thank you for writing: "it is reported that the Plaid+ will be the first model to be designed with the new 4680 battery." The cancellation of the program "sends a signal to us that the new battery format is not ready for production and that the battery capacity of energy storage products such as Powerwall is still limited."
If the battery is not ready, that's a problem. Better batteries are a competitive advantage for electric car manufacturers. Lower costs also make Tesla either cheaper or earn more money per car. Lower prices can expand the number of Tesla buyers.