Tesla ended the year 2019 with $24.6 billion in revenues, having delivered 367,200 vehicles last year.
During early morning trading on Wednesday, the California-based electric auto company saw its shares gain a full 5 percent to reach a record of $1,133 per share. It did not help that Tesla's chief executive, Elon Musk, was regularly sparring on Twitter with critics and securities regulators alike.
Tesla delivered a total of 90,650 vehicles in the second quarter of 2020, 2,250 more than in the first quarter of the year. It had sold 88,496 cars in the first quarter of 2020, when most of the company's operations were largely unaffected by the virus. Toyota's market cap is $204.7 billion respectively. This seems a little excessive given that a Tesla Model 3 sells for less than US$40,000, and the profit margin on those cars is pretty slim.
The scheme appears to have worked in the second quarter, which could prompt analysts to place loftier expectations on Tesla for the remainder of the year.
Galaxy Note 20 Ultra real images leaked for the very first time!
The hinge is also rated to open and close over 2 lakh times and Samsung has added nylon fibres on the edges to repel dust. The phone is now available in three colour options - Mirror Block, Mirror Gold, and Mirror Purple.
According to a BBC report, Tesla's market value recently reached the $209.47 billion mark (more than P10.4 trillion), which is about $4 billion more than that of Toyota's.
Coronavirus restrictions adopted in the San Francisco Bay Area forced Tesla to close its only USA assembly plant in Fremont, California, for nearly two months starting March 23.
Tesla produced 82,272 vehicles in the second quarter, including Model S/X production of 6,326 with deliveries of 10,600, and Model 3/Y production of 75,946 with 80,050 deliveries. During the production break, Tesla has made some changes to the production facilities. It achieved the feat despite its Fremont, California based factory was out of action owing to Covid-19 lockdown for most part of the quarter.
The company notes that the main factory in Fremont was shut down for much of quarter, but production has now been ramped up to prior levels.
Tesla is now seeking a location for a second US vehicle factory to build its Model Y and its new electric Cybertruck.