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Tesla Shares Up: Elon Musk Shares Up 7% After Electric Car Sales Soar | City & Economy | Finances

Tesla released its latest sales figures on April 2nd. The company said it delivered 184,800 vehicles in the first quarter of 2021. In addition, the company has produced over 180,000 cars since the beginning of the year.

Nigel Green, the executive director and founder of deVere Group, shared a similar opinion, noting that these actions by Tesla and others could have an institutional impact: “Bitcoin has been on an epic rally since last October.

“Almost week after week, the price broke barrier after barrier and reached new highs.

“That dynamic came as investors looked for alternatives to traditional currencies as central banks and governments continued to inject new money into the economies, while Wall Street giants began to engage in crypto activities and billionaire entrepreneurs like Elon Musk of Tesla and Jack Dorsey of Twitter accumulated including the cryptocurrency.

“All of this has called the” future of money “the hype in the media and massive interest from retail investors looking to invest in digital currencies more than ever.”

Even so, Tesla’s success could be somewhat hampered by the UK government’s recent “green investing” policies.

The government has been very focused on green commitments in recent years and hopes to lead the UK economy towards a more sustainable future.

However, following Rishi Sunak’s spring budget, the state took a number of measures that could hamper the advancement of electronic vehicles, as Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown said, “The UK government has pledged to encourage green investment An integral part of the economic recovery with £ 1 billion in funding for renewable energy projects and the creation of a national infrastructure bank to unleash more green finance.

“However, the spring budget contained many details on the UK’s net-zero strategy, including the electric vehicle infrastructure plan.

“Instead, the fuel tax has been frozen, and now the Department of Transportation is reducing grants to encourage people to buy electric vehicles from £ 3,000 to £ 2,000, capping the price of qualified cars at £ 35,000. Instead of giving the industry a boost Road to give. ” This is seen as a setback for the UK’s e-vehicle travel.

“However, global industry is well on its way to engaging automakers, energy giants and infrastructure companies to join the fragmented system. This is a critical step in convincing more car owners to switch from internal combustion engines to electric vehicles.” ‘

Susannah concluded by examining what this could mean specifically for Tesla: “Tesla is the EV superstar that is in the green spotlight and whose sales are dwarfing potential competitors around the world, including China, the world’s largest Electric vehicle market. But there will be. ” No rest for Mr. Musk.

“Despite his company’s staggering valuation, the market is ripe for a shake, and the Model 3 and new Model Y face tougher competition as the race progresses. The share price has pulled back from its January highs, but there is concerned that the rating is way too frothy as it is based on future returns and it is not yet clear who will be the final winner of the upcoming marathon. “

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