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Tesla may be working on new car model made in China - report

Aug. 13, 2020 11:02 PM ETTesla, Inc. (TSLA) StockTSLABy: Carl Surran, SA News Editor204 Comments
  • Based on new job postings posted in China, Tesla (NASDAQ:TSLA) is hinting at working on a new car model made in the country, Electrek reports.
  • Job postings such as Senior Car Designer and Design Manager are related to designing a car locally, hinting that the company is taking a bigger step toward building a new car program in China, according to the report.
  • Earlier this year, CEO Elon Musk said Tesla was planning to design an electric car in China for the global market.
  • Separately, Morgan Stanley's Adam Jonas upgrades shares to Equal Weight from Underweight with a $1,360 target, raised from $1,050, seeing an increasing likelihood that Tesla will announce a vertically integrated battery supply business.
  • "Tesla Battery Day... could be a game changer, and based on what we know so far, there is growing risk of Tesla becoming a new battery competitor armed with superior technology," Jonas writes.

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