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PORSCHE AUTOMOBIL HOLDING SE

(PAH3)
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Tesla's fastest model yet aims to outpace rivals

06/11/2021 | 07:11am EDT

It was all very Tesla...

A flashy, splashy launch for its latest and fastest-ever model on Thursday (June 10) evening.

And the main man himself, was quite literally center stage.

"With Plaid, we've managed to break the two-second barrier, if you will. No production car has ever done 0 to 60 in under two seconds."

Company boss Elon Musk was unveiling the Model S Plaid.

It's an update of the firm's high-end sedan.

Besides speed, it also boasts a range of around 400 miles.

And Musk says the performance isn't just for bragging rights:

"We've got to show that an electric car is the best car. Hands down. You know, so it's got to be clear. It's like, man, this is... Sustainable energy cars can be the fastest cars, can be the safest cars, can be the most kick-ass cars in every way."

There may be another reason for the performance boasts, however.

Because Tesla faces growing competition.

Electric cars like the Porsche Taycan are rivalling its products on speed, range and prestige.

Other industry heavyweights like Mercedes and BMW are ramping up their EV offerings too.

Over the first quarter Tesla delivered just 2,020 of its Model S and X cars.

That was down from nearly 19,000 in the previous three months, hampered by production delays.

Future sales of the luxury models will depend on whether Tesla can stay ahead of its rivals.


ę Reuters 2021
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Financials
Sales 2021 117 M 139 M 139 M
Net income 2021 3 850 M 4 566 M 4 566 M
Net cash 2021 390 M 463 M 463 M
P/E ratio 2021 7,23x
Yield 2021 3,87%
Capitalization 28 218 M 33 453 M 33 464 M
EV / Sales 2021 238x
EV / Sales 2022 216x
Nbr of Employees 908
Free-Float 50,0%
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 111,04 €
Last Close Price 92,14 €
Spread / Highest target 45,4%
Spread / Average Target 20,5%
Spread / Lowest Target -5,04%
EPS Revisions
Managers and Directors
NameTitle
Hans Dieter P÷tsch Chairman-Management Board
Wolfgang Porsche Chairman-Supervisory Board
Lutz Meschke Head-Investment management
Ulrich Lehner Member-Supervisory Board
Ferdinand Oliver Porsche Member-Supervisory Board
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