Tesla receives praise from Morgan Stanley, Musk-backed Alef flying car aims to deliver next year
Morgan Stanley, commonly known as "Big Mo", on Monday named Tesla as the most valuable car manufacturer in the United States, with Tesla's stock price rising nearly 6% on Monday. In addition, Alef Aeronautics, a startup invested in by Elon Musk's SpaceX, is also planning to deliver its electric flying car Model A by the end of next year, with an expected selling price of $300,000 per vehicle.
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Morgan Stanley Designates Tesla as "Top Pick," Maintains Target Price of $310
According to a report from Reuters, Morgan Stanley, also known as "Big Mo," on Monday named Tesla as its top pick in the U.S. auto industry, replacing Ford.
Morgan Stanley stated that the future value of Tesla's energy business could surpass that of its automotive business, as investors may focus on companies addressing climate change issues. It also anticipates that as traditional automakers scale back their electric vehicle expansion plans, Tesla will dominate the market for zero-emission vehicle credit revenue.
The analysts at Morgan Stanley reiterated their target price of $310, indicating a potential upside of over 30%. Tesla's stock price rose nearly 6% on Monday, closing at $232.1.
Model A, the Flying Car Backed by Musk
Alef Aeronautics, a startup backed by Musk's SpaceX, plans to begin delivering the electric flying car Model A by the end of next year, with an expected price tag of $300,000 per vehicle. As of March, they had received approximately 2,850 orders.
According to a report from CNN, the Federal Aviation Administration (FAA) in the United States granted the aircraft a special airworthiness certificate in July of last year, allowing it to undergo test flights.
The electric flying car, named "Model A," is the first flying vehicle that can drive on public roads and park like a regular car. It also has vertical takeoff and landing capabilities, allowing it to take off vertically when needed to address modern traffic congestion issues. It can accommodate one to two passengers, with a road range of 200 miles and a flight range of 110 miles. The first deliveries are expected by the end of 2025.
