Morgan Stanley, a U.S.-based multinational financial service corporation, called Tesla Motors the most important automaker in the world due to its contributions in the automotive industry.
Morgan Stanley Research analyst Adam Jonas makes that argument in a new report to investors, according to a story in the Los Angeles Times.
“Not even two years after the delivery of the first Model S, Tesla Motors has transformed from fledgling start-up to arguably the most important car company in the world. Tesla is also emerging as an emblematic force in America’s effort to foster high tech manufacturing job growth.”
Tesla also establishing itself as the “most American made car on the road, pushing 90% U.S. content,” according to Jonas. That’s more than such American pie vehicles as the Ford F-150 and Chevy Silverado pickup trucks, he said.
Here is Morgan Stanley’s case for Tesla Motors, in three broad themes:
Suppliers want to do business with Tesla
Morgan Stanley says auto suppliers want to do business with the company. They hosted a two-hour dinner with a “Tier-0 mega supplier” recently. Their conversation with the unnamed supplier’s chief technical officer was about Tesla Motors. They discussed what Tesla does differently in “electrification, connected car and autonomous vehicles.” They also said there are many other suppliers who at one time shunned the automaker but are now thinking about building dedicated facilities and lines purely to supply parts for Tesla’s vehicles.
Much-larger automakers respect it
General Motors last year established its ‘Team Tesla’ to advance the development of long range EVs.. An engineer from BMW also told Jonas and his team about how Tesla Motors’ in the auto market has helped revive innovation in the space. As a result, Morgan Stanley analysts said they think BMW “will be a stronger company longer term because Tesla is around.
Five states are scrambling to have Tesla’s $5 billion ‘gigafactory’
A governor “would need a very good reason to say no to a Tesla gigafactory.” Jonas said Tesla could wind up employing 20,000 employees directly, up from the current 6,000, and supporting up to 150,000 other jobs upstream and downstream.
Recently, Tesla announced that it will discard all of its patents to encourage its rivals to delve into manufacturing electric cars and facilities that cater to those types of vehicles. Following Musk’s announcement, Tesla entered negotiations with BMW for the development of charging stations for electric cars
