In an intriguing move to expand its product lineup, Tesla has launched a premium mezcal priced at $450, just in time for the holiday season. This unique offering, which has garnered attention for its hefty price tag, is part of the electric vehicle maker’s strategy to diversify beyond its core automotive business.
The mezcal, a 750-milliliter bottle, is positioned as a luxury item and is currently more expensive than a single share of Tesla stock, which is trading around $422. Initially introduced in June, the mezcal quickly sold out, prompting the company to bring it back to market on December 12, catering to the festive shopping rush.
Mezcal, a distilled alcoholic beverage made from the fermented sap of agave plants cultivated in Mexico, has seen a surge in popularity over the past few years. Industry projections indicate that North American sales of mezcal are expected to double from approximately 20 million liters this year to nearly 40 million liters by 2029. This growth is largely fueled by affluent consumers who are increasingly drawn to high-end spirits.
While mezcal shares some similarities with tequila—both being derived from agave plants—there are distinct differences. Tequila is produced specifically from the Blue Weber agave, while mezcal can be made from a wider variety of agave species. Mezcal is often enjoyed neat or used in cocktails, making it a versatile choice for holiday gatherings.
In addition to the mezcal, Tesla is also offering a toy version of its Tesla Bot, priced at $40. This toy is modeled after the company’s humanoid robot, known as Optimus, which has been a focal point in Tesla’s broader technological ambitions. The introduction of these holiday products underscores Tesla’s strategy to engage with consumers in new and innovative ways.
Despite the challenges faced in the stock market, Tesla’s stock has seen an impressive increase of 69% this year. Currently, analysts maintain a consensus Hold rating on TSLA stock, supported by 34 Wall Street analysts. This rating consists of 12 Buy recommendations, 13 Hold ratings, and nine Sell recommendations issued in the last three months. The average price target for TSLA is set at $267.79, indicating a potential downside risk of 36.19% from current trading levels.
As Tesla continues to explore new avenues for revenue generation, the launch of premium products like mezcal and collectible toys reflects its innovative approach to brand expansion. The company’s ability to tap into the luxury market while maintaining its core automotive focus may pave the way for future growth opportunities.
With the holiday season in full swing, consumers looking for unique gifts may find Tesla’s mezcal and toy offerings to be appealing choices. As the brand evolves, it remains to be seen how these products will impact Tesla’s overall market position and consumer perception.
