Tesla It will suspend operations of its main vehicle production plant on March 24 due to the coronavirus after a flurry of allegations and statements between the company and the local, state and federal government of the United States.
The closure of the plant Fremont It involves a serious blow to Tesla’s operations, it is its main plant, where cars are sold that are sold almost everywhere in the world, except for China.
In the statement made by Tesla, explained that the economic position of the company allows to endure a good time without producing cars, but it is not clear how much. Nor have they specified a deadline – at least approximate or estimated – for the restart of operations.
This leaves brand enthusiasts and investors with some level of concern, but now analyst Adam Jonas of Morgan Stanley, ensures to be in direct contact with Tesla And he reassures explaining that the financial state of the company is healthy enough to go through months without producing vehicles.
“After our direct conversations with Tesla and an analysis of its liquidity we have determined that the company is strong enough to withstand several months with a complete closure of operations”
Said that, Morgan Stanley It has lowered its Tesla share price target estimate from $ 480 to $ 460.
Tesla in extreme case could export cars made in China
The consultant New Street Research He assures that they would be able to endure five quarters with operations in Fremont completely stopped and an even more extreme scenario than the current one. They also assure that in the event that the situation does not improve, it is likely that they will begin to export vehicles produced in China or the possibility of moving part of the production to the factory in the state of Nevada.
Still, there is positive news, and there is a possibility that the Fremont factory will not close, after local police released a statement saying they will meet with Tesla again to try to find a better solution.
At the time of publication of this article, it is valued —in pre-market— at $ 427 dollars, an increase of 18% compared to yesterday’s closing price of $ 361.22 dollars.
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