It seems like Tesla's (TSLA) stock price and global feet of electric cars just can't be stopped from logging gains.
Tesla's global fleet reached 4 billion electric miles driven over the weekend, just a few months after hitting 3.5 billion miles.
The company has been tracking its fleet mileage on its "The Electric Road Trip" page in anticipation of its upcoming Model 3 launch. In October, Tesla reached 3 billion in electric miles driven and in December, it gained another 500,000, bringing it to 3.5 billion, according to Electrek.
Those miles driven readings look poised to keep on going higher.
Deutsche Bank analyst Rod Lache on Monday wrote that Tesla will sell almost as many cars as both BMW and Mercedes by 2030.
"We are adjusting our [discounted cash flow] framework to reflect continued rapid growth through 2030, at which time we assume volumes level off at ~2MM units per year (for reference, BMW group sells 2.26MM per year and Mercedes achieves 2.27MM per year). At that point we assume a terminal growth rate of 3.0% (in 2030 and 7.5% in 2021), and terminal margin of 9.5%," Lache wrote in a note.
The firm increased its price target on Tesla to $240 from $220.
Shares of Tesla have surged about 22% year to date to $261.16