5 Auto Companies that Sold the Most EVs in 2021

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1. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 60   

Total Number of EVs Sold in 2021: 936,172 

Tesla, Inc. (NASDAQ:TSLA) is the California-based EV maker led by Elon Musk. It is the largest EV maker in the world and briefly crossed $1 trillion in market capitalization last year before a broad correction in the value of growth stocks hit the firm as well. Morgan Stanley analyst Adam Jonas recently maintained an Overweight rating on the stock with a price target of $1,300, noting that the sales of EVs by the firm could soon top the sales of cars by General Motors and Ford combined by 2027. 

Elite hedge funds back Tesla, Inc. (NASDAQ:TSLA) as it goes from strength to strength. At the end of the third quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $10 billion in Tesla, Inc. (NASDAQ:TSLA), the same as in the previous quarter worth $9 billion.

Here is what Baron Partners Fund has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q1 2021 investor letter:

“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.” 

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