It’s vindication for Musk after a few turbulent years
Tesla Inc. beat Wall Street estimates for annual vehicle deliveries and met the low-end of its own target, sending shares to a record high in a vindication for Chief Executive Elon Musk after a few turbulent years.
The delivery results defy skeptics of Musk, whose mercurial behaviour over the last two years came under close scrutiny from federal regulators and shareholders of Tesla. The run-rate shows that the factory appears to be ramping faster than expected, Baird Equity Research analyst Ben Kallo said. “Shanghai deliveries should be the next catalyst to drive volume growth.”
The Model 3 is Tesla’s most affordable car, with lower-range versions available starting at US$35,000.
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