Tesla Inc (TSLA) has already gained nearly 140% this year but Ron Baron still sees the stock as incredibly attractive for the long-term investor.

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Baron shares his view on Tesla stock

The billionaire investor reiterated his super bullish view on the EV giant today and said he expects it to be exchanging hands at $500 a share in 2025 – nearly double the price at which it’s trading at writing.

On CNBC’s “Squawk Box”, the Founder of Baron Capital noted that electric vehicles make up only 6.0% of automobiles at present and said:

 

There is a really big opportunity for growth.

The Nasdaq-listed firm is scheduled to report its Q2 results next month. Consensus is for it to earn 70 cents a share this quarter up from 65 cents per share a year ago.

Baron is a long-term investor in TSLA

Notable names like Ford Motor (F) and General Motors Company (GM) have recently signed agreements with Tesla (find out more) embracing the wide network of fast chargers it has laid out across North America.

In simple terms, what such collaborations mean for the pure-play electric vehicles company is more money. According to Ron Baron:

 

It’s the same price that it was three years ago and the business is three times bigger.

He confirmed plans of sticking with Musk & Co for the long term and sees the Tesla stock at $1,500 by the end of the current decade. Earlier this week, the multinational revealed plans of a significant investment in India as part of its international push.

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