Elon Musk's Tesla Could See Next Boost To Its Stock Price Come From India, Says Top Investor

Top Tesla Inc. investor and Future Fund Managing Partner Gary Black highlighted the potential for the company’s stock to surge, emphasising the significance of new Gigafactory announcements, particularly in India, among other catalysts.

What Happened: Black took to Twitter to discuss several factors that could influence Tesla’s stock price in the near term. He mentioned that the stock could see upward movement if:

1. Pricing remains stable or any further EV price reductions are matched by equal or greater cost declines.
2. Cybertruck deliveries commence, providing a halo effect for the entire Tesla franchise, akin to the Model Y’s impact in 2020-2021.
3. There’s a Model 3 or Highlands refresh.
4. Full Self-Driving (FSD) licensing deals are struck with other Original Equipment Manufacturers (OEMs).
5. New Gigafactory announcements are made, especially in India.

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Why It Matters: Tesla’s potential expansion into India has been a topic of interest for some time. The electric vehicle giant, led by Elon Musk, has reportedly been in discussions with the Indian government to establish a factory with an annual capacity of up to 5 lakh electric vehicles. This move comes shortly after Musk’s meeting with Indian Prime Minister Narendra Modi during Modi’s U.S. visit. Furthermore, Tesla’s potential investment in India aligns with global strategies adopted by companies to diversify their production bases beyond China.

Another significant development is Tesla’s plan to introduce a new $24,000 (₹20 lakh) car in India, which would be 25% cheaper than its current lowest-priced offering, the Model 3 sedan in China. This move aims to capture a larger share of the Indian market and cater to the country’s growing demand for electric vehicles.

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