Teslas market value surpasses Toyotas, but its challenge is just beginning

category:Finance
 Teslas market value surpasses Toyotas, but its challenge is just beginning


Its not just the change in market value of the two companies. In the eyes of more people, this is a real hammer signal that traditional car companies are subverted by electric vehicle companies with technological attributes.

However, there are also different views.

No one thinks that Tesla is the same company as Toyota just because its market value has exceeded Toyota. Norihiro fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities in Tokyo, said in an interview.

According to public data, in 2019, Toyota sold more than 10 million vehicles worldwide, 12 times that of Tesla. In 2019, Toyotas net profit was 136.8 billion yuan, while Teslas profit data remained negative.

China market becomes the main booster

It may not be appropriate to compare a company with an average annual net profit of more than 2 trillion yen (about 129.8 billion yuan) in the past six years with a company that has not yet achieved annual profit. But the halo of Teslas CEO and many other companies he owns make the capital market have unlimited reveries about it - which may be the root cause of Teslas continued rise.

With his own power, musk has achieved achievements that have not been achieved by numerous countries. This kind of plot with personal heroism once again enveloped musk in high light.

In addition, in addition to being an electric vehicle manufacturer, Tesla has grown into a giant in energy storage and solar solutions. The company has increased the capacity of solar roofs to 4 megawatts a week. Its enough for 1000 families.

His boring company is planning to dig a high-speed transport tunnel connecting lanchokumanga and Ontario International Airport, which will take only 90 seconds to transport guests from the beginning to the end.

If these peripheral businesses only draw a delicious pie for investors, then the Chinese market across the Pacific accelerates the arrival of Teslas epic moment.

Affected by the price, the sales volume of Teslas domestic model 3 broke 10000 again in May, reaching 11095 units, with a growth rate of 205% month on month, ranking first in the new energy market and leaving the second place far behind. Teslas overall model sales account for 20% of the market.

According to the statistics released by China Federation of riders, from January to April 2020, in the domestic private pure electric market, except Beijing, Tianjin, Zhengzhou and Liuzhou, which are respectively occupied by BYD, great wall, Hezhong and SAIC GM Wuling, Tesla is the brand with the highest purchase volume of private users in other major cities, including Shanghai, Guangzhou, Hangzhou, Chengdu, Shenzhen, etc.

Hard to replicate innovation

Tesla, once criticized by Wall Street, is being favored by more and more analysts, which means the company has long-term competitiveness in the eyes of capital.

Wedbush securities recently released a bullish Research Report on Tesla, raising the list price of Tesla to $1000, saying its share price may have more room to rise.

Although Teslas share price fluctuated slightly after breaking through $1000, it remained at a high of $1000 as of the time of publication. If you consider Tesla valuation and relative valuation It seems logical to downgrade it, but the stock is not traded on a valuation basis, it relies on investor sentiment and enthusiasm. Nancy tengler, chief investment officer of Laffer tengler investments, said in an interview with CNBC. If we continue to see a sell-off in the stock, it could be an opportunity for investors to take advantage over the next three to five years. She said.

Benedict Evans, a well-known investor, compared Tesla to the apple of the auto industry. When people at Nokia saw the first iPhone, they didnt think it was a great phone, he said. It had a cool looking feature, but it could only occupy a small part of the market. They shrug and say, it doesnt support 3G, it just has a powerful camera.

It turns out that Nokia people are wrong, and they have paid a price.

When talking about whether Tesla is subversive or not, Benedict Evans believes that whether its a new thing or a company that creates it, it often sees the advantages of the existing leaders and finds some needs and areas that these companies cant meet and achieve; the existing companies dont care about the latecomers and think that their new things can be easily learned by themselves. But its wrong. Apple brought intelligence and learned how to make a good mobile phone; Nokia would have made a good mobile phone, but it cant always learn to be intelligent. He said.

As for Tesla, the senior investor believes that he has found the weakness of intelligence that traditional car companies do not have, but has not fully grasped the old advantages of the former. How to produce cars on a large scale with the efficiency not inferior to that of traditional automobile giants, and how to maintain the efficiency of capital utilization. Tesla has been in the production hell for a long time, but solving the production hell is not a victory. This is the basic condition. Benedict Evans said.

Based on the analysis of these characteristics, Tesla seems to be hard to copy in battery, electric control, human-computer interaction, automatic driving and other fields. For example, other companies can use the same cell supplier of Tesla, but they cant achieve the same package efficiency, let alone Teslas own million mile life battery is on the way.

For another example, many traditional car companies and new forces products have borrowed Teslas large central control screen, but the deep operation logic and interactive experience are different.

As for automatic driving, hardware such as camera, radar and processor can also be copied, but data accumulation at software level is not achieved overnight - as we all know, the importance of data accumulation of automatic driving is far greater than that of hardware itself.

In addition, it is still very rare for a vehicle to realize the change of mechanical execution level through remote software upgrade. Compared with such a car, the core competitiveness is the first innovation ability to come up with an OTA upgrade mode.

Toyota is not Nokia

Although Tesla has innovation areas that are hard to replicate, the situation facing Tesla is totally different from the war between apple and Nokia in that year. When tech enthusiasts shouted that Tesla would destroy the traditional giant like Toyota as apple overthrew Nokia, they forgot that Toyota was not too late to keep up with the times or unwilling to keep up with the times.

Take electrification as an example. In an interview with the interface news, Moshi Moshu, deputy president of Toyota Motor, said that the popularization of electric vehicles is only meaningful. And their attitude towards pure electric vehicles is not resistance, but secretly observation. They choose allin only when the market is receptive enough to such products.

Toyota has enough reserve to catch up, rather than rush into the market early to grab the cake.

On the other hand, the traditional giant represented by Toyota is carrying out an unprecedented joint and horizontal action, which is undoubtedly the resources that the new electric vehicle companies represented by Tesla do not have.

Toyota has established hydrogen fuel cell joint ventures with FAW, Dongfeng, GAC, BAIC and yihuatong to occupy the highland of future ultimate energy; has cooperated with Xiaoma Zhixing and didi to explore automatic driving and future travel modes; has deepened cooperation with Ningde times and BYD to develop pure electric vehicles. Not only that, Toyotas travel vision for the future will also be put into practice, and it will be built into a real future city and named woven city. Similar moves are also taking place among traditional car giants such as Daimler, Volkswagen, Ford and GM. So the question is, when Teslas superior technologies in intelligent, automatic driving and applied ecology are gradually popularized by traditional vehicle enterprises through mature supply system and quality control, can musk rely on energy supplier and Mars migration plan and other gimmicks to tell the future story in the capital market? Source: editor in charge of interface news: Yang Bin_ NF4368

Not only that, Toyotas travel vision for the future will also be put into practice, and it will be built into a real future city and named woven city.

So the question is, when Teslas superior technologies in intelligent, automatic driving and applied ecology are gradually popularized by traditional vehicle enterprises through mature supply system and quality control, can musk rely on energy supplier and Mars migration plan and other gimmicks to tell the future story in the capital market?