“Monolithic Structure”: Tesla Stock (NASDAQ:TSLA) Slides Despite First Megacharger in California

Electric vehicle giant Tesla TSLA -1.76% ▼ rolled out its first Megacharger station for Semi users in California, a move which should help cement Tesla as a new standard for moving freight in the United States. But as it turns out, investors seem less than interested by the move. That much can be ascertained from the over 1.5% drop in Tesla stock in Monday afternoon’s trading.

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Out in Ontario, California, Tesla opened up the first Megacharger station in California, part of a larger move to put out 66 different Megacharger stations throughout the United States. Meanwhile, Tesla is also ramping up production of Semi units at the Nevada factory, which is exclusively devoted to producing the electric truck.

Tesla specifically picked this site as it is located in Inland Empire, which is considered “…one of the busiest freight corridors in the world.” That gives it ready access to the Port of Los Angeles, the Port of Long Beach, and several other major distribution centers. As Tesla moves to make its Semi system the new standard for moving freight overland in the United States, having a network of chargers ready for access will be vital to making Tesla’s value proposition a reality.

Reseating the Roadster

The new Roadster, however, is set to come with a new feature that few likely saw coming: a new seat. As it turns out, the new Roadster’s seat has its own set of features that make it a surprisingly compelling idea, including programmable zone function, built-in actuators, and several tools designed to offer great ergonomics. That should make the seat particularly comfortable, and attractive.

This is important for an additional reason. Most seats are made by assembling multiple components into one system. But Tesla’s new Roadster seat is a “…single continuous composite frame…” which uses thermoforming to build all the components into one single framework. Tesla calls it a “monolithic structure,” and it will likely serve as a production advantage over competing seats.

Is Tesla a Buy, Hold or Sell?

Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 13 Buys, 11 Holds, and seven Sells assigned in the past three months, as indicated by the graphic below. After a 78.59% rally in its share price over the past year, the average TSLA price target of $399.25 per share implies 2.3% upside potential.

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