Tesla, Inc (NASDAQ: TSLA) has grown since its IPO in June 29, 2010 into one of the world’s biggest producers of electric vehicles (EVs). Besides producing electric vehicles, such as cars, SUVs and trucks, Tesla has expanded into solar energy generation and battery storage systems.
Tesla meets its record number of EVs production and deliveries for this quarter and continues to ramp up production for coming quarter. With its improving operations, Tesla’s free cash flow remains positive for the second year in a row. Its cash flow hit $2.79 billion in 2020, which double the $1.08 billion in 2019.
In addition, Tesla has being pushing for an autonomous vehicles opportunity. This could be another potential profit driver for the company in the future.
The Democrats, emphasizing on climate change, controlling the Legislative and Executive branches in 2021 will help the fuel the growth for EV industry, which helps Tesla.
In conclusion, investors should consider buying Tesla stocks for the coming decade.