- Tweeter
republish
After two quarters in the red, the world leader in electric cars has announced better than expected quarterly results. As a result, the value of Tesla stock jumped 21% in electronic trading after the close of the stock market.
Tesla recorded a profit of $ 143 million, which pleased investors on Wall Street, who did not expect such a result. It's also a relief for shareholders.
The group has been spending steadily since its creation for research and development. This performance is due to a record number of shipments, lower costs and the start of production at its new giant plant in Shanghai, China. The electric vehicle manufacturer started producing its models in this factory earlier than expected.
►Also read: Automotive industry: Tesla creates a company in China
This new unit allows it to reduce its production costs, and especially not to pay customs taxes in the world's largest car market. The Chinese plant, with an annual production capacity of at least 500,000 cars, is designed to give the Californian group, faced with competition from Porsche in particular, direct access to the dynamic market of the Chinese electric car. Located in Lingang, a manufacturing area of Shanghai, its surface is about 865,000 square meters.
The group will soon announce the construction of a new plant in Europe where it is the leader in the electric vehicle market. Its CEO, Elon Musk, has just announced new delivery targets. He said he can deliver up to 400,000 electric cars this year. An announcement that appealed to investors.