TESLA

The letter up Elon Musk's sleeve

Electric car maker Tesla surprised investors with a profit of $ 143 million in Q3 2019. Shares soared 17% and caused Tesla to overtake GM as the world's most valuable automaker.
The company went through a rough patch early this year when CEO Elon Musk saw Tesla's stock plummet. The losses came after the company reported a record drop in volume of electric car deliveries in Q1, down 31% from Q1 2018.
Investors who were betting on the company's stock slump lost $ 1.5 billion in a single day. Earnings of $ 1.86 per share far exceeded market expectations.
The presentation of the results (full) points to a record of cars delivered to buyers, with 97 thousand units. Of these, 80,000 were from the new Model 3 and the rest from Model S, their luxury sedan.
Musk also announced that the company's China factory is already in the testing phase, with production from bodywork to painting. Tesla has announced it should start producing in volume in the coming months.

Gigafactory Tesla in China

The factory will bring the company into the Chinese market with Model 3 and also as an export platform to other countries. The CEO also stated that the definition of the factory location in Europe is in the final stages.

Autonews