“Wall Street Veteran Owuraka Koney Stays Bullish on Tesla’s Future”
- Shams Ul Zoha
- July 19, 2023
- 3:11 pm
WHAT YOU SHOULD KNOW
- Owuraka Koney, a Wall Street veteran, was 25 when he convinced his colleagues at Jennison Associates to invest in Tesla before its public debut, showing early belief in the company’s unique market approach, battery system, cost advantages, and innovative culture.
- Despite Tesla’s constant volatility, Koney remains bullish on its future, projecting that the company could produce twice the number of cars by 2026, setting it up for further growth.
- Koney’s long-term vision centers on the next-generation Tesla cars expected to be produced in Mexico in three years. He believes these models will be manufactured cheaply at high volumes, potentially leading to another windfall for investors.
According to a Bloomberg report, Wall Street veteran Owuraka Koney, who accurately predicted Tesla’s remarkable growth even before its public debut, maintains an optimistic outlook for the electric vehicle giant’s future. Koney, who was only 25 at the time, successfully persuaded his colleagues at Jennison Associates to invest in Tesla based on his early belief in the company’s distinctive market approach, proprietary battery system, cost advantages, and innovative corporate culture, which he saw as a formula for creating unique solutions.
Despite already achieving an incredible gain of 14,800%, Koney firmly believes that Tesla still has significant potential for further expansion. He envisions a “tsunami” of new cars in the coming years and anticipates major consolidation within the auto industry as it transitions away from traditional combustion engines. Looking ahead to 2026, Koney projects that Tesla could double its production capacity, far surpassing the two million cars it plans to deliver this year, indicating a promising growth trajectory.
Koney’s long-term vision centers on the forthcoming generation of Tesla cars, which are scheduled to be produced at a newly constructed assembly line in Mexico within three years. He foresees these models being manufactured at a lower cost and in higher volumes, which he believes will lead to another windfall for investors. Despite Tesla’s market volatility, Koney remains undeterred, maintaining his focus on the company’s forward-looking prospects and the potential of its innovative next-generation vehicles.
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