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Pure Play EV Vendors will Ultimately Dominate the Auto World, Tesla (TSLA) Best-Positioned But Valuation Still Hard to Justify - Bernstein's Sacconaghi

October 18, 2021 6:05 AM EDT

Bernstein analyst Toni Sacconaghi has weighed in to discuss the current market valuation of Tesla (NASDAQ: TSLA), which for him is hard to justify despite the unique position the EV manufacturer holds in the auto industry.

The market has attributed roughly 45% of the car industrys market cap to pure-play EV players, which sell only 1% of all car units at the moment.

Traditional auto OEMs today sell 99% of all cars globally (97% of which are ICE, 2% of which are BEV) and the 15 largest OEMs have a collective market cap of... More