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It's all about capacity and for Tesla, it couldn't happen at a better time.

"Production of electric vehicles is estimated to climb to at least 1.3 million and could reach 1.5 million depending on market conditions this year, according to Bernstein analyst Mark Newman. Wedbush analyst Dan Ives raised his price target for Tesla from $600 to $800 saying, “we continue to believe EV demand in China is starting to accelerate with Tesla competing with a number of domestic and international competitors for this market share.”

"Jaffe says there is a wave of electric vehicle production coming from Europe that will spur greater sales. “The European automakers and Tesla are all adding capacity and that will really have an impact starting next year,” said Jaffe. Tesla’s next final assembly plant outside of Berlin is scheduled to begin production of the Model Y by the middle of next year.

As for the U.S., sales of electric vehicles are expected to grow next year as more models roll out. While the Tesla Model 3 and Model Y are likely to get the lions share of mass market sales, there are several new models including the Ford Mustang Mach-E and General Motor’s Hummer EV SUV that will focus more attention on the electric market. In addition, several electric pickup trucks are scheduled to roll out by the end of 2021."

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