Tesla Bull Kevin Paffrath Just Made This Prediction for the Company

Tesla bull Kevin Paffrath has predicted between 5 to 10 new gigafactories for electric vehicle maker Tesla in the next two years.

It was last week that the company’s CEO Elon Musk kicked off the grand opening of the company’s new Texas gigafactory in Austin, Texas.

The Austin plant is the company’s fourth globally and will be manufacturing the Model Y SUV and the highly anticipated Cybertruck in 2023.

“I think in the next two years, we’re probably gonna get between five and 10 new factories, and that’s hugely bullish for Tesla investors,” Paffrath, a financial analyst and YouTube star, told Yahoo Finance Live.

Thursday’s invite-only event served as a public unveiling of the new $1.1 billion manufacturing facility. As many as 15,000 people were expected to attend the “Cyber Rodeo” celebration, which offered attractions and an inside look at the massive facility.

According to Paffrath, “to walk from one end of the Giga factory to the other, long ways,” would take “an hour and a half.”

Musk called the Austin facility “the largest factory building in the world by volume” and the “most advanced car factory the world has ever seen.”

At the event, Musk confirmed that Tesla is building battery cells at the facility, adding, “We think, over time, this will be the biggest cell factory in the world.”

Paffrath described Tesla as “so much so a robotics company,” and said, “That’s what you see and feel” at the Austin plant.

“It’s phenomenal to see the technology here, if you’re looking to invest in a robotics industry, forget about Amazon (AMZN). This is where it is.”

“They’re not shipping in batteries. They’re not shipping in motors. They’re putting everything together in this plant,” Paffrath said. “This plant is what is going to get copied and pasted.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.