'Consumers Are Not Going To Hybrids': Ross Gerber Believes Tesla's 'Phenomenally Performing' Batteries Make EVs The Top Choice

Ross Gerber, the CEO of Gerber Kawasaki Wealth and Investment Management, expressed his belief that consumer preference is shifting from hybrids to electric vehicles (EVs). He attributed this shift to the superior performance of Tesla Inc.’s TSLA batteries.

What Happened: On Tuesday, Gerber appeared on CNBC’s “Last Call” and stated, “Consumers are not going to hybrids. They want EVs. They want the best cars on the road. They’re the cheapest, most efficient cars to run overtime, and Tesla’s batteries have been phenomenally performing.” This statement aligns with his well-known bullish stance on Tesla.

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Gerber’s comments come at a time when the automotive industry is witnessing a shift in consumer preferences. In November, Toyota Motor Corporation TM revived its focus on hybrids, leading to a resurgence in their popularity. However, Gerber’s recent remarks suggest that this trend may be short-lived.

Why It Matters: The shift from hybrids to EVs could have significant implications for the automotive industry. This trend aligns with Elon Musk‘s vision for Tesla, which aims to surpass Toyota as the top automaker by 2030. If Gerber’s prediction holds true, it could signal a major win for Tesla and the EV market as a whole.

Moreover, this shift could also impact the performance of Japanese equities. The Japanese market has been experiencing a revival, with Goldman Sachs identifying seven standout companies as the “Seven Samurai.” If the EV trend continues, it could further bolster the performance of these Japanese equities.

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