Tesla (TSLA) Jumps 5% Ahead of Tesla Investor Day

Tesla (TSLA) jumped 5% for the day as investors are eyeing the EV company ahead of Tesla’s Investor Day.

The event will take place this Wednesday at its Gigafactory in Austin, and while timing for the event has not been announced, it will be live-streamed. Some institutional and retail investors will also attend in person. Here are three key things to keep an eye on:

• Long-term expansion plans: Tesla CEO Elon Musk has stated his goal for the company is to produce 20 million cars annually by 2030. However, with only 1.31 million vehicles delivered in 2022, Tesla has a long way to go to achieve this goal. While ramp-ups at Giga Austin, Giga Berlin, and expansion plans at Giga Shanghai will help, more gigafactories will be necessary to reach this scale. At the end of 2022, Tesla projected an installed annual capacity of about 1.9 million vehicles, and Musk has suggested that 12 gigafactories will be needed to produce 20 million vehicles a year. Expect more information about these expansion plans, including potential next steps, at the event.
• Staying ahead of the market: Tesla has long been a leader in the electric vehicle (EV) market, but competition is growing. The company will need to continue to innovate and invest in new technology to maintain its position.
• Innovation and future plans: Tesla is known for its innovation, and investors will be looking for insights into the company’s future plans. From new product lines to potential partnerships, any announcements about Tesla’s plans for the future could have a significant impact on the company’s stock price.