Jim Cramer didn’t mince words when he described Tesla’s (TSLA) – Get the report Cybertruck, which is expected to go into production in 2022.
Cramer called the pickup a “bad eye” compared to Ford’s (F) – Get the report electric F-150 Lightning. “I think this van is going to be a disaster. Its the first disaster. I saw one,” he said.
“I still like Tesla because I think it’s been unfair the way its autonomous driving has been managed. There are a lot more drunk driver accidents. But I recognize that this van is going to be a disaster,” Cramer added.
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New Street analyst Pierre Ferragu said Tesla is “ahead of the curve” when it comes to solving the real-world AI problem, according to Fly.
Ferragu said his conviction is that Tesla will be seen over the next decade as a winner in electric cars and clean energy, with long-term growth prospects.
This justifies a high profit multiple, between 50 and 100 times, Ferragu said, and real-world AI progress and autonomous driving capabilities “will certainly support this perspective and drive the multiple to the upper end of the spectrum. ‘this range’.
Shares of Ford added 2.75% on Tuesday following a report suggesting the vehicle manufacturer is doubling production targets for its F-150 Lightning amid rising customer demand for the newly introduced electrified truck .
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Reuters reported that Ford will set a production rate of 80,000 by 2024 for the F-150 Lightning, compared to a previous estimate of 40,000. About 15,000 will be manufactured next year, following the formal launch of the truck in the spring, Reuters reported.
Earlier this year, Ford said it will increase its investment in electric vehicles to at least $ 30 billion by 2025 and create a new division called “Ford Pro” that will focus on commercial vehicles and government customers.
The company also unveiled a commercial version of its popular F-150 Lightning electric truck, the F-150 Lightning Pro, with a base price of just under $ 40,000, a figure that relates it largely to the cybertruck. planned by Tesla, during a visit to a production plant in Dearborn, Michigan, by President Joe Biden.
Here is a list of electric vehicle stocks to see:
Tesla
Tesla rose Monday and added another 2% on Tuesday, after Deutsche Bank and New Street analysts praised the electric vehicle maker’s artificial intelligence efforts. On Tesla AI Day, last week, Musk unveiled Tesla Bot, a humanoid robot, a prototype of which the company intends to unveil next year.
Musk said the 5-foot, 8-inch robot is “thought to be kind,” but “probably won’t work” at first. “We came out with a greater appreciation for Tesla’s efforts in AI,” said Emmanuel Rosner, an analyst at Deutsche Bank, who reiterated his rating of buying at the company. “Overall, Tesla outlined a very ambitious effort to develop a high-performance neural network with highly scalable underlying computation and accurate, fast data labeling.”
TheStreet Quant Ratings rates Tesla as a Hold with a C score.
Ford
Ford engine (F) – Get the report shares fell last week, with General Motors (GM) – Get the report following the case, while investors reacted to the plans of the world’s largest vehicle manufacturer to reduce production amid the continuing shortage of semiconductor supplies. Ford, which unveiled plans to temporarily close an F-150 assembly plant in Kansas City, told investors last month that “navigating these chip limitations has led us to make significant permanent changes to our model. of business “.
Toyota (TM) – Get the report, the world’s largest vehicle maker, said it would produce around 360,000 cars worldwide next month, a 40% reduction from its recent average, but pledged to keep the target of 9.3 million by fiscal year 2022. Volkswagen number 2 in the world (VWAGY) Meanwhile, he warned that the “supply of chips in the third quarter will be very volatile and tight” and said he cannot rule out a reduction in its production program over the coming months.
Cramer said that just because automakers are limited by the shortage of semiconductors, that hasn’t stopped Ford from making vehicles that people can’t wait to buy when it’s available.
TheStreet Quant Ratings rates Ford as a Hold with a B-score.
General Motors
General Motors posted weaker-than-expected gains in the second quarter last month, compared to a surprise profit for Ford, warning that it will “continue to see the impact this year” of global shortages. semiconductor that has impacted rivals like Tesla, Toyota and Volkswagen.
Ford sees a boost from investors disappointed with the cost estimate related to GM’s withdrawal from the Chevy Bolt following a report by the National Highway Battery Fire Risk Road Safety Administration, that the manufacturer said the weekend could reach $ 1 billion. .
Cramer told Jeff Marks, a senior analyst at Action Alerts PLUS, that GM’s Chevy Bolt problems should not be read under other names in the EV industry, including Action Alerts PLUS held by Ford.
TheStreet Quant Ratings rates GM as a buy with a B score.
Lordstown Motors
Shares of Lordstown Motors (WALK) – Get the report increased last week after the electric vehicle maker demonstrated its Endurance van in the northeast chapter of the annual conference of the American Association of Airport Executives.
The company made cautious comments from analysts after the company said it was ready to start a “limited production” of its electric van in September. Lordstown, which also announced a second-quarter loss, said it will begin limited production of its Endurance van in late September.
TheStreet Quant Ratings has no ratings for Lordstown Motors.
Nio
US listed shares of Nio (NIO) – Get the report rose 2% on Monday. The company’s ADRs had declined after a fatal collision that hit one of the Chinese electric vehicle manufacturer’s model ES8 SUVs.
Lin Wenqin, the founder of brand management firm Meiyihao, died earlier this month after activating the autopilot navigation system on his NIO SUV, according to reports from various Chinese media.
NIO driver assistance functions are called NIO Pilot and they use cameras like the so-called car eyes.
TheStreet Quant Ratings rates NIO as a sale with an E + score.
XPeng
Shares of Chinese electric vehicle manufacturer XPeng (XPEV) – Get the report rose sharply last week with strong delivery results. XPeng said deliveries were up 228% from 8,040 in July from last year and up 22% from 6,565 in June. The July total represented its second consecutive month of record. The electric vehicle manufacturer delivered 6,054 P7 smart sedans and 1,986 smart compact SUVs.
Shares of XPeng have fallen 18% in the past six months amid concerns about the valuation. But the company traded up 1.5% on Tuesday.
TheStreet Quant Ratings has no ratings for Xpeng.
Power plug
Plug current actions (PLUG) – Get the report were higher last week after the hydrogen fuel cell maker reported second-quarter revenue ahead of estimates and raised its full-year gross reserve estimates. The company reported a second-quarter net loss of 18 cents per share on revenue of $ 124.6 million.
Earlier this month, RBC Capital analysts began hedging with a higher-than-rated rating and a target price of $ 42 per share. “Plug Power’s valuation is rich, but its long growth track justifies the premium,” analyst Joseph Spak wrote in a research note to clients. The company offers exposure to the emerging hydrogen economy through its “complete turnkey solution,” he said.
TheStreet Quant ratings value Plug Power as a sale with a score of D.