Analysts at UBS raised Tesla Inc. (NASDAQ: TSLA) price target to $325 from $160 and said they expect the announcements of the company's upcoming battery event on September 22nd to be "significant."
The Swiss bank wrote in a note that the event will be based on new cell technology, in particular the dry electrode design. They expect this to reinforce “cost and technology lead for several more years."
UBS said dry electrode technology is likely to provide 50% higher energy density--up to 400 watt-hours per kilogram (Wh/kg) compared to 260 Wh/kg today--and will also provide much longer battery life with potentially cobalt-free chemistry. The estimated cost of the element will be $70-80 per kilowatt-hour (kWh) over the next three years, which will save about $2,300 per vehicle.
The bank expects Tesla to sell 2 million vehicles in 2025, representing about 15% of the global battery electric vehicle market share.
The 2020 Annual Meeting will be held on Tuesday, September 22, 2020, at 1:30 p.m. Pacific Time.
Tesla’s separate Battery Day event will follow immediately after the conclusion of the 2020 Annual Meeting.
In addition, Tesla expects to accommodate a very limited number of stockholders in-person at the 2020 Annual Meeting and the Battery Day event due to mandated restrictions on the size of in-person gatherings. Both events will be held at:
Tesla, Inc.
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About the Author
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.
