août 13, 2022

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Tesla Stock Price: Automaker Musk Expects Big Twelve Percent Earnings Up | City and Business | finance

The increase in demand indicated that Tesla had avoided the supply chain problems that plagued other automakers. Shares of the world’s most valuable automaker rose 11.58 percent to a one-month high of $1,179.20 on Monday. Tesla shares are up $122.42 today due to bumper delivery numbers.

Analysts say there will be strong delivery numbers for Tesla products in 2022.

There has also been an expansion of new Tesla plants in Berlin and Texas.

« We expect a gradual pick-up in Berlin and Austin, » Cowen analyst Jeffrey Osborne told Reuters.

« We expect these slopes to slow exports from Shanghai, many of which were destined for Europe in 2021. »

Read more: Electric vehicle incentives ‘required’ as initial cost ‘too high’

However, the analyst said Tesla has a lot to watch out for in 2022 as competition with other automakers heats up.

He added, « We see that 2022 will be more difficult than 2021 in light of the increased competition.

« We think the four-vehicle design on the road is taking a long time to get old which is likely to slow growth. »

Elon Musk welcomed the news of the stock price increase via his Twitter account.

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He wrote: « Great work by the worldwide Tesla team! »

And a press release from Tesla about the profitable fourth-quarter results read: « In the fourth quarter, we achieved production of more than 305,000 vehicles.

“We have also achieved the delivery of more than 308,000 vehicles.

“In 2021, we delivered more than 936,000 vehicles.

« Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve a great year. »

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« Elon Musk added to his progression as the world’s richest person after Tesla stated that it had broken the previous record for auto delivery, » Bloomberg Wealth wrote on Twitter about the Tesla share price increase.

However, Musk has been criticized for building a Tesla outlet in China’s western Xinjiang province as reports indicate that Beijing’s ongoing crackdown on the ethnic Uyghur minority is underway.

A Washington Post contributor took to Twitter and said, « A few days after Biden signed a bill banning exports from Xinjiang, Elon Musk’s Tesla company opened its first store and showroom in Xinjiang.

A horrific move.