Tesla (TSLA) is the hottest thing on Wall Street at the moment, with Tesla stock up about 385% year-to-date even after some recent softness in shares.
TSLA is sitting on a huge backlog of domestic demand for the flagship Tesla Model S sedan, which has investors clamoring to buy the stock and optimistic about future growth. But increasingly, the electric vehicle manufacturer is becoming a global story.
In September, we got word that Tesla sales were pushing into China … and then this week, TSLA chief exec Elon Musk made a splash in Germany as he vowed a souped-up version of the Model S to race around the famous Autobahn roadways.
Specifically, the Tesla CEO told a crowd in Munich that TSLA will soup up the Model S at no charge with a performance package that allows for high speeds on the famous German roadways that conspicuously lack speed limits.
The Tesla CEO is very Steve Jobs-like with his cult of personality right now, and clearly people in this proud carmaking country love what Elon Musk has to say — about sustainable energy, about performance automobiles and about Tesla’s innovative approach to the marketplace.
Of course, the million dollar question is how quickly TSLA can ramp up production both at home and abroad to tap into this demand, and how quickly competitors can catch up. General Motors (GM) has its Chevy Volt, while even Ford (F) or Toyota (TM) are pushing ahead in earnest with electric vehicles of their own.
While in Germany, TSLA’s top exec also shed some light on what would be coming next from Tesla: A tentatively named Model E mid-sized sedan for production in the next year or so, and a Tesla Model X SUV due next year, with the smaller, lower cost Model E perhaps in 2016.
As Tesla looks to branch out, both internationally and with its line of electric vehicles, TSLA investors have more to be excited about.
Just don’t forget the valuation issues that come with TSLA stock, of course, while you read all the praise that’s out there.
Related Reading on Tesla Stock
- Tesla stock gets a recharge from rental deals. (The Slant)
- Check out Elon Musk badmouthing fuel cell technology in Munich, too. (YouTube)
- More on the mass-market Tesla Model E mid-sized sedan. (Extreme Tech)
Jeff Reeves is the editor of InvestorPlace.com and the author of The Frugal Investor’s Guide to Finding Great Stocks. Write him at firstname.lastname@example.org or follow him on Twitter via @JeffReevesIP. As of this writing, he did not own a position in any of the stocks named here.