Electrical carmaker Tesla’s (TSLA – Free Report) “Battery Day” occasion, held on Sep 22, was a much-anticipated occasion. Many traders had excessive hopes from the occasion however the stock offered off about 5% in earlier than market periods on Sep 23.This was as a result of Chief Government Elon Musk mentioned that a number of the improvements showcased on the occasion have been “close to working” and can “not reach serious high-volume production until 2022.”Tesla shares have staged a monstrous rally this yr. Regardless of the most recent selloffs, shares are up 407.1% this yr. Nonetheless, Tesla shares have gained solely 3.5% previous month because the stock plunged 21% on Sep 8, marking its greatest day by day share drop. This occurred as a result of the electrical carmaker was excluded from the group of corporations which can be being added to the S&P 500 (learn: What Lies Forward of Tesla ETFs as It Fails to Make It to S&P 500?).What Lies Forward of Tesla?Tesla unveiled plans to develop dramatically long-lasting “million miles” battery. Although the announcement was in need of particulars, it marks a 54% enhance in vary, in line with the companyThe firm additionally shared plans to additional cut back the already-low price of its battery cells and packs to $100 per kilowatt-hour, at which level price equivalence of electrical automobiles ought to turn into just like combustion engine automobiles, per specialists.Musk mentioned Tesla would enhance battery cell purchases from suppliers Panasonic, LG and CATL however cautioned about “significant shortages in 2022 & beyond,” as quoted on a CNBC article. On a positive note, Musk predicted the company is likely to develop a $25,000 full self-driving car within three years.Musk expects vehicle deliveries to rise by 30% to 40% year over year. The new guidance indicates deliveries of between 477,750 and 514,500 cars, a range that includes the company’s previously stated target of delivering half a million cars in 2020, per a CNBC article.Meanwhile, “sources told Reuters recently that Tesla is planning to export Model 3 vehicles made in China to the Asian and European markets. The automaker is expanding its manufacturing base in China to make Model Y sports-utility vehicles and adding lines to make more battery packs, electric motors and motor controllers,” as quoted on a supply.Ought to You Wager on Tesla on Lengthy-Time period Prospects?The Zacks Consensus Estimate for the short-term price goal is $295.38 with 20 analysts providing the price goal. This means a 30.4% decline from the present price of $424.23 per share as of Sep 22.Notably, the very best short-term price goal is $550 whereas the bottom short-term price goal is $65. Of the 20 analysts protecting the stock, 12 offered a “Hold” ranking, adopted by a “Strong Sell” from 4 and “Strong Buy” from 4.This means extra promoting stress in Tesla shares within the coming days. So, traders who’ve already missed the rally in Tesla shares this yr, can anticipate some extra time after which purchase the stock to capitalize on the long-term prospects.The stock at present has a Zacks Rank #3 (Maintain). Buyers meaning to faucet the long-term potential within the stock may additionally play the next ETFs because the basket method is much less dangerous.ETFs in FocusMicroSectors FANG+ ETN (FNGS – Free Report) — Tesla accounts for about 10% share.ARK Net x.zero ETF (ARKW – Free Report) —Tesla occupies the highest place at 9.7%.ARK Autonomous Know-how & Robotics ETF (ARKQ – Free Report) — Tesla occupies the highest spot with 9.4% share. First Belief NASDAQ International Auto ETF (CARZ – Free Report) — The fund invests about 10% weight in Tesla.Need key ETF data delivered straight to your inbox?Zacks’ free Fund Publication will temporary you on high information and evaluation, in addition to top-performing ETFs, every week. Get it free >>