Tesla Stock: Waiting For The ‘Redwood’

Investment thesis We have covered Tesla, Inc. (NASDAQ:TSLA) before, and in this report, we present the adjustments we have made to our forecast, in particular taking into account the downward revision of the electric vehicle (EV) production forecast due to the intention to launch a new crossover model codenamed Redwood. This move requires a reallocation of Tesla’s energies to the detriment of ramping up deliveries of its flagship 3/Y models. However, we expect Tesla's EV deliveries CAGR to be above the expected market average of 21% YoY (at 23% YoY), but below our previous forecast. We expect the Redwood model…