Why hasn’t Tesla announced a partner yet for its much vaunted gigafactory? The question is beginning to be asked, and not just by investors.
Tesla’s share price has underperformed the market by a wide margin since it unveiled its plans to build the world’s biggest lithium-ion battery factory on Feb 26. Although, to be fair, it has also been one of the hardest-hit stocks in the recent sell off that thus far, nobody has been able to convincingly explain.
Each day that passes without Tesla announcing a partner—who will be expected to help fund the project and produce the batteries—the more the uncertainty mounts. It’s creating concern about the launch of Gen 3, Tesla’s next model of electric car which is expected to sell for just $35,000 and take the company to the mainstream. “If six months pass without measurable progress on the factory, must investors push back expectations for Gen 3…
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