Tesla Inc (O:) cut the price of its sport utility vehicle Model Y by $3,000, just four months as a result of its launch, as the US electric carmaker seeks to maintain sales momentum in the COVID-19 pandemic.
The enormous construction plant - which is being built in Grünheide, 25 miles south-east of Berlin - will be the firm's fourth such factory.
(MENAFN - Baystreet.ca) Trading in shares of electric vehicle manufacturer Tesla Inc. Although the coronavirus has damaged sales, the company handily beat Wall Street estimates of 74,130 vehicles sold during the quarter.
Pompeo says USA to impose visa curbs on Huawei over rights
Over the decades, Huawei has played an integral part in building Britain's 3G and 4G networks, with a proven track record. For starters, the security concerns the British government has evoked to ban Huawei simply do not stand.
Just over a week previously, Telsa was ranked as the world's most valuable vehicle company as its second-quarter results bolstered its Nasdaq listed stock. Just recently, the model was also launched back in China after the company started its production at Gigafactory Shanghai, but it is not yet available anywhere else.
And Tesla could deliver nearly 4 million cars in 2025, capturing almost 10% of market share in the US, Piper Sandler said.
The report also suggests that Tesla could be included in the S&P 500 as it could post profits for the fourth consecutive quarter. A push that's all the more impressive when compared to General Motors market cap of $35 billion.
Musk is reportedly worth $70.5 billion already.
However, the stock has given back all that it gained and in late afternoon trading was down about 2% on the day, just above $1,540 per share.