Tesla may be able to ramp in China faster than thought, says Morgan Stanley
Morgan Stanley analyst Adam Jonas said feedback gathered by his firm's team from local Chinese suppliers indicates that Tesla may be able to ramp production there faster than he had anticipated. The construction of Gigafactory 3 in Shanghai "tracks perfectly on schedule as to last week" and looks set to be ready by the end of September for complete production to start from November, the feedback indicated, according to Jonas. While he anticipates significant pent-up demand for Tesla's locally produced vehicles in China, Jonas expects China to account for less than 200,000 units of Tesla deliveries annually by 2022, he noted. He keeps an Equal Weight rating and $230 price target on Tesla shares.