|What is happening to Tesla?|
|06 Mar 14 08:25 AM|
Tesla is one of the hottest stocks listed in US stock market.
Yesterday Tesla closed at around $253.00 up from a 52 week low of $35 gaining seven folds in a year. What is so special about it?
It is an electric car making company, due to start production in a big way in 2020. Five years ago, when Tesla drew its plan to manufacture its Model S saloon, lithium-ion batteries were priced at about $1,000 a kilowatt-hour (kWh). But now the prices have moderated to about $400 a kWh. Experts inform that the prices should moderate to $200 or less per kWh to make electric vehicles viable for use. Tesla is planning a $5-billion "gigafactory" in the U.S. Southwest, by 2017 with Panasonic and other partners.
2017 is going to be a make or break year for Tesla when it releases the more mainstream Model E with a price tag of around $110,000. Tesla is also beginning to market the Model S in China. The Chinese government has encouraging the carmakers to go electric, owing to the pollution problems in China. We will have to check how the electric cars fare in India.
Coming back to the markets, bulls have fought well to take the Nifty to come close near the key resistance point of 6350! It will be rollicking time for the bulls if it closes above 6350 today.
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