Tesla revealed on Thursday it had ridden out the coronavirus shutdown far better than expected, triggering a renewed surge in shares a day after it overtook Toyota to become the world’s most valuable carmaker. The electric car maker said it had delivered 90,650 vehicles in the second quarter, well ahead of ahead of analysts’ expectations for 74,130, according to a Refinitiv survey. This was despite closing its Fremont, California, plant from late March to early May. They were up 8 per cent to $1,207 (€1,074) on Thursday, a more than five-fold increase from $230 about 12 months ago. The company’s shares are up 167 per cent year-to-date.

Source: The Irish Times July 02, 2020 16:41 UTC