8 Best Cyclical Stocks to Buy According to Hedge Funds

3. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Investors: 99

Tesla, Inc. (NASDAQ:TSLA) is a pioneer in electric vehicles (EVs), renewable energy solutions, and sustainable technology. The company’s product lineup includes EVs such as the Model 3, Model S, and Cybertruck. Tesla, Inc. (NASDAQ:TSLA) is also at the forefront of innovation in robotics and autonomous driving, leveraging its advanced Full Self-Driving (FSD) software.

Tesla, Inc. (NASDAQ:TSLA) is focusing on ramping up its vehicle production and intends to introduce more affordable models in the first half of 2025. This initiative is aimed at making electric vehicles accessible to a broader audience. Additionally, the company is preparing to commence volume production of the Cybercab in 2026, targeting an initial output of at least 2 million units annually, with the potential to scale up to 4 million units in the future. This increase in production capacity is designed to meet the rising demand for electric vehicles.

Tesla, Inc. (NASDAQ:TSLA) is making significant progress in the development and deployment of autonomous driving technology. The company recently introduced version 13.0 of its Full Self-Driving technology. The new version will initially be rolled out to a select group of customers and aims to increase the miles between interventions by five to six times compared to the current version. Tesla (NASDAQ:TSLA) aims to achieve full autonomy by Q3 2025, with capabilities exceeding human driving expected by the end of 2025. The new version is part of the company’s long-term vision of achieving fully autonomous and sustainable transportation.

Tesla, Inc. (NASDAQ:TSLA) plans to roll out self-driving electric vehicles for ride-hailing services in California and Texas by mid-2025, benefiting from streamlined regulatory approval processes in these states. Currently, Tesla, Inc. (NASDAQ:TSLA) is testing this service internally by offering ride-hailing for its employees in the Bay Area.