Tesla has made progress in reducing cash burnout, but the electric car manufacturer is not "quite out of the woods yet," says Adam Jonas CNBC on Wednesday.
Tesla is planning to unveil an electric truck this summer, but a counterpart can get an edge with its own electric powertrain in the truck market," said Jonas.
Morgan Stanley has a price target of $ 283 for the stock over 8 Tesla faces tougher issues such as General Motors and Amazon are rumored to invest in Rivian Automotive, a Detroit-based technology startup that is the company's top pick for competing with Tesla in the near future. Jonas sees Rivian as the next leader in electric truck.
"Rivian and other startups who can access the best talent and … capital and … have business model chops by an Amazon behind them, which can make … a much more serious threat to Tesla than say the Germans who want EV, says Jonas Wednesday, "but the cultural issues are real limiting factors in our opinion."