'Don't rely on China' as a top reason to buy Tesla shares, Morgan Stanley's Adam Jonas says

Tesla boss Elon Musk (L) walks with Shanghai Mayor Ying Yong during the ground-breaking ceremony for a Tesla factory in Shanghai on January 7, 2019. - Musk presided over the ground-breaking for a Shanghai factory that will allow the electric-car manufacturer to dodge the China-US tariff crossfire and sell directly to the world's biggest market for 'green' vehicles.
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Morgan Stanley auto analyst Adam Jonas had a warning Thursday for Tesla shareholders who are betting on the Elon Musk-led electric vehicle maker dominating in China.

"We encourage investors to say, don't rely on China, for example, as your No. 1 reason why you own Tesla," Jonas said in an interview on CNBC's "Squawk on the Street."

"I talk to some investors that think Tesla will have 50% market share of like AI, robotaxi or something in China." he argued. "To us, that would be equivalent to a U.S. telecom company operating in China. It's just not where the market is going."

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