There is a ‘clear path’ to a car one-half the cost of a Model 3 - Musk

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $220.00 price target on Tesla (NASDAQ: TSLA) after CEO Elon Musk was interviewed at the broker's Technology, Media and Telecoms Conference in San Francisco yesterday.

"Musk reiterated his view that it is entirely possible to convert the global fossil fuel economy to renewable with 240 TWh of lithium ion batteries (accumulated production over time), adding that the majority of this would be lithium iron phosphate (LFP), which is comprised of extremely common elements. On the manufacturing and design side, Musk reiterated there is a ‘clear path’ to a car one-half the cost of a Model 3 that he believes will ultimately be used almost entirely in ‘autonomous mode.’"

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Shares of Tesla closed at $187.71 yesterday.

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