Bullish Tesla Analysts ‘Probably’ Right, Says Venture Capitalist John Doerr

Well-known venture capitalist John Doerr said that bullish Tesla analysts are probably right at CNBC‘s ESG Impact summit on Thursday, emphasizing the company’s global leadership in the wake of some major milestones.

At the summit, Doerr said, “They are committed to being a global leader and I believe they will be in the transportation future.” Doerr later continued,

“The powerful thing that Tesla has done beyond creating a trillion-dollar company that’s worth as much as their next four competitors is they’ve put the global auto industry on notice that the future of electric transportation is what consumers will demand when we get cost and prices to be competitive globally.”

On Monday, Hertz announced the purchase of 100,000 Tesla Model 3 units in a $4.2 billion USD deal, which has caused Tesla’s stock to skyrocket throughout the week, even boosting the company to reach a $1 trillion USD market capitalization for the first time.

The news also comes amidst growing competition from other EV companies as they announce their first few EVs – though none of them are nearly as valuable, or as globally dominating in the EV sector as Tesla.

Still, amidst an inevitable EV market share decline from Tesla in future years, some Wall Street analysts are more bullish on Tesla’s stock than ever.