Telsa Motors Inc. (TSLA) is trading at $250.05 today. That’s up $2.00. the 52 week low was just $33.80. If fact this stock has been on a tear lately. And why not, considering they can’t make enough electric cars fast enough. The company plans to boost production by 55% in 2014 and this still will not meet demand. They have expanded their market into Europe and now China promises to be a new huge market for Telsa automobiles. If you want one you are going to have to reserve it for 2015 delivery.
The company continues to expand its electric recharging stations and has partnered with Solar City which supplies solar panels for these stations. This keeps the costs down. In turn Telsa provides lithium-ion batteries for Solar City’s energy storage systems.
Keep in mind that the battery Telsa has developed is what makes their electric cars realistic. Okay now the big news. Telsa is working to open a “giga battery factory”. They are partnering with Panasonic and expect to go on stream in 2017. These battery packs could revolutionize the electric utility company business. Today, electric utility companies are capable of actually storing very little electricity. They instead produce it on demand. Telsa’s battery packs could change all that. Talk about a huge new market for their products!
Morgan Stanley analysts have raised Telsa’s target price to $320. It’s probably not too late to jump in on this growth stock’s rally.