A Biden presidency could give a boost to Tesla, says Oppenheimer

Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020.
Aly Song | Reuters

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Electric vehicle companies including Tesla could see a boost if Biden takes the White House in November, Oppenheimer said in a note to clients Thursday.

 "We expect a Biden EPA would seek to reinstate or further strengthen Obama-era fuel economy standards," analysts led by Colin Rusch said. "The campaign has also signaled intent to expand EV tax credits, fund EV charging infrastructure expansion, and procure alternative vehicles for its own fleet."