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On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic.
Tesla Inc.'s shares rose by 4.4% in after-hours trading that could lead to the electric car maker's inclusion in the S&P 500 Index (SPX).
Tesla's Chief Executive Officer Elon Musk said during a conference call on Wednesday that the company would prioritize growth over profit.
"The thing that bugs me most right now is that our cars are not affordable enough, we need to fix that. I think we just want to be like slightly profitable and maximize growth and make the cars as affordable as possible. We need to, you know, not go bankrupt. Obviously, that is important but we're not trying to be super profitable either," Musk said.
The price of Tesla's most popular vehicle, Sedan Model 3, starts at $37,990 in the United States.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
After a steep decline at the start of the year, China’s economy showed vast recovery in the second quarter despite still getting plagued with major economic debacles in weak domestic consumption and investment amid the unrelenting coronavirus ...
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