The enthusiasm phase in the development of autopilot systems for ground vehicles in the last couple of years gave way to a sobering stage, and many market participants began to talk about how difficult it is.last ten percent of the way“. Tesla is also pulling with the introduction of autopilot in production cars, and this can undermine its capitalization, according to the expert.

Image Source: AFP, Getty Images

Craig Irwin, an analyst at Roth Capital, shared his point of view on the situation around Tesla shares with CNBC. According to him, the fair price of Tesla shares now does not exceed $ 150, although yesterday it actually approached $ 700. In just one day after the publication of quarterly reports, Tesla’s capitalization grew by $ 50 billion. Investors, according to Irwin, warming up the Tesla stock market, proceed from the conviction that the company has no competitors. With a current capitalization of $ 660 billion, the company forms only a small part of the global car market, although this amount is comparable to the turnover of the US and European car markets combined.

At the same time, the representative of Roth Capital does not believe that Tesla has no prospects – on the contrary, the business will grow along with the rest of the electric vehicle market. Another thing is that Tesla needs to push forward with the introduction of autopilot technologies, since competitors are already breathing down the drain. Favorable factors for the company are the development of business in China and the upcoming entry into the Indian market, as the expert summed up.

Yesterday, shares of many other companies related to alternative energy and electric vehicles were also marked by growth. Lordstown Motors shares gained 1,89%, Canoo shares gained 2,59%. QuantumScape, a developer of solid-state batteries, was 2,25% more expensive. The US authorities in the coming years have promised to spend $ 174 billion on electrification of transport and the creation of charging infrastructure, which gave optimism to investors.