New Report Suggests Tesla Will Dominate S&P 500 By 2030

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Posted on EVANNEX on May 04, 2022, by Zachary Visconti

After entering the S&P 500 in 2020, Tesla has continued to rapidly grow. And a new report shows that the automaker could be poised to dominate the rest of the index by the end of the decade, especially with the company’s position amidst a burgeoning EV and autonomous driving industry.

Tesla may be severely undervalued, even with shares floating around $1,000 per share, according to a report written by Worm Capital researcher Cameron Tierney and partner Eric Markowitz recently reported by Fast Company. In the report, Tierney and Markowitz posit that Tesla’s competitive edge coming from advances in artificial intelligence make it a serious contender and likely to dominate the S&P 500 by 2030.

The report encapsulates a multi-year study conducted by the firm of Tesla’s various business sectors, including its cars, EV batteries, trucking, AI and more — all of which have been built up as a result of the ever-expanding EV automaker.

What it found was that Tesla has uniquely sought to control its own destiny, building and reinventing its own components, tools and factories for its needs.

The result has sparked a movement towards EVs by the auto industry at large, as the International Energy Agency reported EV sales more than doubling in 2021 to a total of 6.6 million worldwide.

Now, the agency reports that EVs represent nearly 9 percent of the global car market, tripling in its market share from just a few years earlier. By 2030, the Edison Electric Institute predicts the U.S. will see around 22 million EVs on the road, as another example of the growing field.

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