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The news about Ford and GM joining the TSLA Supercharger Network has got investors wondering about the potential opportunities for both the old-school automakers and what it could mean for TSLA.
Morgan Stanley analysts wrote in a note, “We view the charging network as an ‘extension of the battery itself.’ Ubiquity of charging will impact design, chemistry, and size of an EV’s battery, which is where we believe investors may find room to add incremental lines to their TSLA model. We have long believed TSLA would supply batteries to other OEMs…”
EVs account for ~7% of new car sales in the US YTD. By 2030, the analysts estimate that US EV penetration will hit 25%. By 2040, Morgan Stanley forecasts 75% penetration. They also forecast EV miles driven, a fundamental underpinning of any EV infrastructure model. Morgan Stanley forecasts EVs account for less than 1% of US miles traveled today, rising to 8% by 2030, 22% by 2035, 50% by 2040, and nearly 90% by 2050.
Shares of TSLA are down 3.29% in premarket trading on Thursday.
