Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Tesla Motors Inc. (TSLA)’s Future-Cars Dominance Under Threat from Toyota’s Mirai

Tesla Motors Inc. (NASDAQ:TSLA) is forging forward with its earlier plans of upgrading its production capacity to be in a position of producing up to 100,000 cars annually, up from the current 35,000. CNBC’s Melissa Lee reports that the company has already carried out a major facelift of its California plant. The facelift will allow the plant to produce up to 1,000 cars a week with the potential for more in the future.

Tesla Motors Inc (NASDAQ:TSLA)

Steve Grasso remains cautious about Tesla Motors Inc. (NASDAQ:TSLA)’s future prospects at the back of increased competition in the electric car segments. The stock continues to pick itself in the market having sunk after overvaluation sentiments by CEO, Elon Musk. The analyst believes the giant electric company is poised to face more pressure in terms of competition going forward, especially from Toyota.

“China was supposed to be their big market and if we can’t rely on China then, I think it is going to be a problem going forward. That was their catalyst that was their wind at the back. I think Tesla is now going to have competition not only from BMW, from Ford Motor Company (NYSE:F), Toyota and General Motors Company (NYSE:GM),” said Mr. Grasso.

Guy Adami remains confident about Tesla prospects arguing it stabilized pretty well at the $220 level and is now destined to surge to highs of $290 in the coming months. Tesla Motors Inc. (NASDAQ:TSLA) already has an all-wheel drive car that the current competition does not have, but Grasso believes problems associated with doors could considerably dent the car’s popularity.

Toyota has already announced that its hydrogen fuel cell-powered car; Mirai will go on sale next month and expected to rival Tesla’s electric cars. Toyota claims that Mirai has the potential to clock highs of 300 miles per each fill up compared to Tesla Motors Inc. (NASDAQ:TSLA)’s Model S 265 miles per each fill up. The entry of Mirai into the market clearly shows that Tesla could be bombarded with increased competition in the coming months as the race for next generation automobiles heats up.

The main challenge in this case will be developing a car that is fuel-efficient while also being affordable for the mass market.

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!