Cramer called the pickup an "eyesore" when compared to Ford's (F) - Get Free Report electric F-150 Lightning. "I think that this pickup truck is going to be a disaster. His first disaster. I saw one," he said.
"I still like Tesla because I think it's been unfair the way that their autonomous driving has been handled. There are many more accidents from drunk drivers. But I recognize that this pickup truck is going to be a disaster," Cramer added.
Over on Real Money, contributor Stephen "Sarge" Guilfoyle talks about Tesla Bot, the semiconductor shortage and what it means for Tesla. Check out his investing insights and trading strategies in I Have a Fun Trade Idea for Tesla.
New Street analyst Pierre Ferragu said Tesla is "ahead of the curve" on solving the real-world AI problem today, according to the Fly.
Ferragu said his conviction is that Tesla will be viewed over the next decade as a winner in electric cars and clean energy, with a long-duration growth outlook.
This justifies an elevated earnings multiple, in the 50-100 times range, Ferragu said, and progress in real-world AI and self-driving capabilities "will certainly support that perspective and push the multiple in the higher end of this range."
Ford shares added 2.75% Tuesday following a report that suggested the carmaker is doubling production targets for its F-150 Lightning amid a surge in customer demand for the newly-unveiled electrified truck.
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Reuters reported that Ford will target a 2024 production rate of 80,000 for the F-150 Lightning, up from a prior estimate of 40,000. Around 15,000 will be made next year, following the truck's formal launch in the spring, Reuters reported.
Earlier this year, Ford said it will up its investment in EVs to at least $30 billion by 2025, and will create a new division called "Ford Pro" that will focus on commercial vehicles and government customers.
The company also unveiled a commercial version of its popular all-electric F-150 Lightning truck, the F-150 Lightning Pro, with a base price of just under $40,000, a figure that pegs it largely in line with Tesla's planned cybertruck, during a visit to a production facility in Dearborn, Michigan from President Joe Biden.
Here is a list of the electric vehicle stocks to watch:
Tesla climbed Monday and added another 2% Tuesday, after analysts at Deutsche Bank and New Street praised the electric vehicle maker's artificial intelligence efforts. On Tesla's AI Day this past week, Musk unveiled Tesla Bot, a humanoid robot, a prototype of which the company intends to unveil next year.
Musk said that the 5-foot-8-inch robot is “intended to be friendly” but “probably won’t work” at first. "We came away with a greater appreciation for Tesla’s efforts in AI," said Deutsche Bank analyst Emmanuel Rosner, who reiterated his buy rating on the company. "Big picture, Tesla outlined a very ambitious effort to develop a high-performance neural network with very scalable underlying compute and accurate and fast data labeling."
Ford Motor (F) - Get Free Report shares slumped lower this past week, with General Motors (GM) - Get Free Report following suit, as investors reacted to plans from the world's biggest carmaker to slash production amid the ongoing shortage in semiconductor supplies. Ford, which unveiled plans to temporarily shutter an F-150 assembly plant in Kansas City, told investors last month that "navigating these chip constraints has led us to make important permanent changes in our business model."
Toyota (TM) - Get Free Report, the world's biggest carmaker, said it would produce around 360,000 cars worldwide next month, a 40% reduction from its recent average, but pledged to hold its 2022 financial year target of 9.3 million. World No. 2 Volkswagen (VWAGY) - Get Free Report, meanwhile, cautioned that the "supply of chips in the third quarter to be very volatile and tight" and said it can't rule out a cut to its production schedule over the coming months.
Cramer said that just because automakers are limited by semiconductor shortages, that hasn't stopped Ford from making vehicles that people can't wait to buy when they're available.
General Motors posted weaker-than-expected second-quarter earnings last month, compared to a surprise profit for Ford, as it cautioned it will "continue to see the impact this year" of the global shortage in semiconductors that have impacted rivals such as Tesla, Toyota and Volkswagen.
Ford is seeing a boost from investors disappointed in the cost estimate pegged for GM's expanded recall of its Chevy Bolt following a National Highway Transit Safety Administration report of risk of high-voltage battery pack fires, which the carmaker said over the weekend could reach $1 billion.
Shares of Lordstown Motors (RIDE) - Get Free Report rose this past week after the electric vehicle maker demonstrated its Endurance pickup truck at the Northeast Chapter of the American Association of Airport Executives’ Annual Conference.
The company drew cautious commentary from analysts after the company said it was ready to start "limited production" of its electric pickup truck in September. Lordstown, which also announced a second-quarter loss, said it will begin limited production of its Endurance pickup truck in late September.
Lin Wenqin, the founder of the brand-management firm Meiyihao, died earlier this month after activating the autopilot navigation system in his NIO SUV, according to news reports by several Chinese media outlets.
NIO’s driver-assistance functions are called NIO Pilot and employ cameras as the so-called eyes of the car.
Shares of Chinese electric vehicle maker XPeng (XPEV) - Get Free Report rose sharply this past week on strong delivery results. XPeng said deliveries soared 228% to 8,040 in July from last year and were up 22% from 6,565 in June. The July total represented its second consecutive record month. The electric vehicle carmaker delivered 6,054 P7 smart sedans and 1,986 G3 smart compact SUVs.
XPeng shares have slid 18% over the last six months amid valuation concerns. But, the company traded 1.5% higher on Tuesday.
Shares of Plug Power (PLUG) - Get Free Report were higher this past week after the hydrogen-fuel-cell maker reported second-quarter revenue ahead of estimates and raised its full-year gross-bookings estimates. The company reported a second-quarter net loss of 18 cents a share on revenue of $124.6 million.
Earlier this month, analysts at RBC Capital initiated coverage with an outperform rating and a price target of $42 a share. “Plug Power’s valuation is rich, but its long runway for growth justifies the premium,” analyst Joseph Spak wrote in a research note to clients. The company “offers exposure to the emerging hydrogen economy through its ‘comprehensive turnkey solution," he said.