Tesla stock is zooming ahead, trading at record highs most of the week — it has risen more than 8 percent this week and is up about 71 percent so far this year.
Besides analysts feeling bullish about the electric-vehicle maker — at least one raised his price target for the company’s shares earlier this week — CEO Elon Musk spoke at the company’s shareholders meeting Tuesday and got people excited, as usual.
For one thing, the company gave a sneak peek of its next vehicle, the Model Y, a small SUV. An image shown at the shareholders meeting made the rounds on Twitter, with the biggest buzz around the fact that the car has no side mirrors.
Here’s your first real look at the Tesla Model Y: https://t.co/EAKDvHHEcw http://pic.twitter.com/zTlWZJ5EKt
— Autocar (@autocar) June 8, 2017
Also, Musk talked about a big expansion: He said he’s giving “serious consideration” to three new factories, and envisioned having up to 10 to 20 plants worldwide eventually. He said the Fremont factory is “bursting at the seams.”
Tesla is getting ready to start making the Model 3, its first mass-market vehicle, this summer. Musk said customers will be able to configure their electric sedans online next month, and mentioned that those who have yet to make a reservation (in the form of plunking down a $1,000 deposit) will have a long wait. The Model 3, which starts at $35,000, is scheduled to begin production in July.
Musk has said he wants to boost production to 500,000 vehicles a year in 2018. Tesla made nearly 84,000 vehicles in 2016.
Tesla, which surpassed Ford in market value in April, now has a market capitalization of $61.43 billion to Ford’s $43.94 billion. Tesla shares are up about 2 percent to nearly $367 at the moment.
Photo: A view outside Tesla’s Fremont factory in 2012. (Paul Sakuma/AP)
June 08, 2017 at 11:47PM
from Levi Sumagaysay
No comments:
Post a Comment