The reason for Jonas' enthusiasm is the exchange he had with Tesla CEO Elon Musk during the automaker's recent earnings call. As we noted at the time, Jonas asked about a Tesla autonomous ride sharing service. Musk's silence left a lot of room for guesses about what Tesla might be up to. Jonas' got excited about what he calls a "Tesla Mobility, an app-based, on-demand mobility service" and said that, ""Tesla is uniquely positioned, in our view, to solve the biggest flaw in the auto industry, <4 percent utilization, via an app-based, on-demand mobility service." We couldn't find Jonas' original note, but we have more from Bloomberg:
There have been a variety of responses.
Given the pace of technological development both within Tesla and at rival technology and mobility companies, we would be surprised if Tesla did not share formalized business plans on shared mobility within the next 12 to 18 months... We view this business opportunity as potentially additive to Tesla's existing model of selling human-driven cars to private owners and see potential for this model to conceivably more than triple the company's potential revenues by 2029. That is, selling miles in addition to selling cars... If Tesla wants to make good on its mission to accelerate the world's transition to sustainable transport, we see the move to a shared mobility model as critical.
Jonas, of course, is the Morgan Stanley analyst who's been tremendously positive about Tesla's future chances. He once said that Tesla is the world's most important automaker and that Tesla's stock could go up tenfold. Given that Jonas once thought TSLA could hit $1,900, maybe we should see his $465 prediction as a bear?