Tesla outpaced analyst estimates for second-quarter vehicle deliveries on Thursday, defying a trend of plummeting sales in the wider auto industry and sending its shares up 8%.
Tesla on Wednesday became the highest-valued car maker as its shares surged to new record highs and the electric vehicle maker’s market capitalisation overtook that of former front runner Toyota.
Politicians and pundits say the world’s largest economies are bound for a seismic “decoupling”. Yet, with businesses harbouring long-term ambitions for these two giant markets, breaking up may be hard to do.
The surge in Tesla’s shares so far this month moved Elon Musk’s company even closer to displacing Toyota as the world’s most valuable car maker.
Volkswagen will narrowly meet a deadline to start deliveries of its flagship ID.3 electric car, but early buyers will have to wait months for all the features to work.
Tesla’s stock jumped above $1 000/share on Wednesday after CEO Elon Musk told his staff it was time to bring the Tesla Semi commercial truck to “volume production”.