The well-known Tesla bulls maintain the target price of 1400 US dollars and emphasize that the key to growth is still the Chinese market.

Well-known Tesla bulls, investment bank Wedbush believes that after entering 2022, Tesla company is still in a strong position. The reason is that Chinese demand will drive business growth and that new factories in the US and Germany are expected to ease the shortage of supply and demand.

Tesla's shares are likely to rise nearly 30 per cent in the next 12 months, analyst Daniel Ives wrote in a note. Ives expects auto parts shortages to ease next year, allowing the company to better meet growing demand in China, while new plants in Austin, Texas and Berlin should ease global production bottlenecks.

Wedbush maintains Tesla's basic target price of $1400 and his "outperform" rating. "the key to Tesla's bull market tone is still China, which we estimate will account for 40 per cent of the company's delivery in 2022," Ives said.

Ives estimates that Tesla will have the capacity to produce about 2 million cars a year by the end of 2022, up from about 1 million today. He pointed out, "what bothers Tesla now is an advanced (high-class) problem, that is, demand exceeds supply."

Wedbush,Argus Research is not the only bullish on Tesla. On Tuesday, it raised its target price for Tesla's shares to $1313 from $1010, and maintained its "buy" rating.

Argus believes that even in the face of "increasing competition", the electric car maker is still the "undisputed leader" in the industry.

Tesla's share price has performed well this year, rising nearly 55 per cent as of Monday's close, with a market capitalization of more than $1,000bn during the year. Although Elon Musk, the company's CEO, has been selling shares since November, Tesla's share price has rebounded by more than 14% last week. He said on social media last week that he had "almost achieved" his goal of reducing his stake by 10%.

In the US stock market on Tuesday, Tesla reversed the downward trend and is now up 0.46%, which is bound to record five Lianyang on the daily line.