(News Bulletin 247) – The car manufacturer signed a spectacular sequence which ended during Wednesday’s session. That rally had been propelled by its decision to open up its network of electric superchargers to Ford and General Motors.

If Nvidia continues to rise in New York, with an increase of 190% since the start of the year, the previous “new superstar” on Wall Street, Tesla, is not to be outdone. Over the whole of 2023, Tesla sees its price double, redoing a large part of its heavy stock market fall of last year.

Above all, the car manufacturer specializing in electric vehicles recently signed an impressive series. According to data from Investing.com, the group led by Elon Musk had 13 consecutive sessions in the green, from May 25 to June 13 inclusive. This allowed its action to take over this period 41%. The good series ended on Wednesday with a decline of 0.7% and the title lost another 1.2% on Thursday, penalized by the announcements of the Fed.

The impressive rise was largely fueled by announcements of the opening of its electric vehicle supercharger system at Ford, announced in late May, and General Motors, last week. The two American manufacturers will thus have access to Tesla’s network of “supercharger” stations in 2024.

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Subsidies and additional income

Obviously Tesla did not make this decision out of simple altruism. “Tesla has a financial incentive to onboard other electric vehicles [que ses propres modèles, NDLR]as the U.S. government requires electric vehicle chargers to work with more than one manufacturer in order to access the $7.5 billion in financing for electric vehicle charging infrastructure,” UBS bank explained in a statement. a recent note.

“For Tesla, the company currently has one of the largest charging networks in the world (with over 40,000 charging points) and this could become a small additional revenue stream in places where usage rates are still low. weak”, also underlines the Swiss bank.

Dan Ives, Wedbush’s flagship technology analyst, also raised his Tesla price target from $215 to $300 in late May. The financial intermediary estimated that the automotive group had many assets including “its unequaled battery ecosystem”. “Musk and Tesla are playing chess while the other automakers are playing checkers in this green tidal wave of electric vehicles,” he noted.

On CNBC, the analyst also estimated that opening up its network of superchargers to General Motors and Ford could ultimately generate $3 billion to $4 billion in additional revenue per year for Tesla.

Quoted by Fortune, investment bank Piper Sandler has similar forecasts, considering that Tesla could add $3 billion in revenue by 2030 and $5.4 billion by 2032 through the opening of its “superchargers” to non-Tesla automobiles.

Investing.com also recalled the very optimistic statements of Cathie Wood, the famous managing director of Ark Invest. The latter had on several occasions estimated that Tesla shares could approach 2,000 dollars (against 256 dollars currently) by 2027, mainly thanks to the rise of robotaxis.

For all intents and purposes, remember that Cathie Wood left Nvidia in January, closing her position on the stock in January. Subsequently the title more than doubled, which had led Cathie Wood – not necessarily a good player on this one – to judge on Twitter, at the end of May, that the title had become much too expensive. The asset manager assured that other stocks would benefit greatly from the AI ​​boom in particular…Tesla, of course.