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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Tesla, Inc.    TSLA

TESLA, INC.

(TSLA)
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Tesla : CEO says electric cars will double global electricity demand

12/01/2020 | 11:49am EST
FILE PHOTO: Tesla managers demonstrate V3 superchargers on German research campus in Berlin

FRANKFURT (Reuters) - Tesla Chief Executive Elon Musk said on Tuesday that electricity consumption will double if the world's car fleets are electrified, increasing the need to expand nuclear, solar, geothermal and wind energy generating sources.

Increasing the availability of sustainable energy is a major challenge as cars move from combustion engines to battery-driven electric motors, a shift which will take two decades, Musk said in a talk hosted by Berlin-based publisher Axel Springer.

"It will take another 20 years for cars to be fully electric. It is like with phones, you cannot replace them all at once," Musk said in a talk streamed on the Bild.de web site, adding that around 5% of vehicles are replaced every year.

Once electric cars become the norm, electricity from intermittent generating energy sources such as wind and solar will need to be stored, probably through battery technology, he said.

"Together with large battery packs, both things need to be combined, wind power with battery packs and solar energy," Musk said.

Tesla is embarking on plans to build its fourth gigafactory in Europe's largest economy.

"The best wind turbines are made in Germany," he said.

"I always have a good time when I am here. I like the engineering culture. People want to get things done."

Tesla has recently acquired a licence to trade electricity across western Europe, and the company has also been surveying customers in Germany about potentially using Tesla electricity in their cars.

(Reporting by Edward Taylor; Editing by Jan Harvey)


© Reuters 2020
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Financials (USD)
Sales 2020 30 943 M - -
Net income 2020 1 316 M - -
Net cash 2020 5 302 M - -
P/E ratio 2020 625x
Yield 2020 -
Capitalization 783 B 783 B -
EV / Sales 2020 25,1x
EV / Sales 2021 17,1x
Nbr of Employees 48 016
Free-Float 80,0%
Chart TESLA, INC.
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Tesla, Inc. Technical Analysis Chart | TSLA | US88160R1014 | MarketScreener
Technical analysis trends TESLA, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 37
Average target price 508,07 $
Last Close Price 826,16 $
Spread / Highest target 15,0%
Spread / Average Target -38,5%
Spread / Lowest Target -87,3%
EPS Revisions
Managers and Directors
NameTitle
Elon Reeve Musk Chief Executive Officer & Director
Robyn M. Denholm Chairman
Zachary Kirkhorn Chief Financial Officer
Kimbal Musk Director
Ira M. Ehrenpreis Independent Director
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