Tesla Motors Inc. is in the midst of a meteoric rise in the stock market, which is expected to reach $6.3 billion this year.
The company’s stock rose more than 200 per cent in one day.
Tesla has more than tripled its market cap since it was founded in 2002.
Tesla’s stock has gained more than 400 per cent this year alone.
Tesla is expected soon to make its $5,000 monthly payments to the owners of its Model S electric sedan.
TESLA MARKET CAPITALS Tesla has a market cap of more than $6 billion.
Tesla stock has increased by more than 800 per cent since its founding.
Tesla’s shares were trading up at $7.90 in early trading Tuesday, up 2.6 per cent from their opening price of $6,900.
Tesla shares have risen over the past few months as the company has built up a significant amount of cash and its sales and service business has ramped up to more than 600,000 vehicles.
Tesla also has an existing fleet of electric vehicles, such as its Model 3, that it is using to test its cars and begin selling them to the public.
On Monday, the company said that its new electric vehicle, the Model 3 with a range of 80 kilometres, will go on sale later this year, and that Tesla has set a release date of December 31, 2020, for the Model 4.
TESLAS POWERED UP Tesla said on Monday that it had set a goal of increasing the electric vehicle fleet to about 10,000 by 2025.
The milestone would represent a 75 per cent increase in the total number of electric vehicle electric vehicles currently in use by the world’s largest automaker.
TESA LETS TO SHOOT On Tuesday, Tesla CEO Elon Musk announced that Tesla’s new car will be called the Model X. The new Model X is expected be unveiled at a press conference scheduled for Thursday in Palo Alto, California.
It will be the first time that Tesla will release a new vehicle since the company’s founder, Steve Jobs, left the company in early 2018.
DON’T MISS Tesla Motors Inc.: The most lucrative electric vehicle maker in the World.