Tesla took the number one spot in the S&P 500’s best performers on Tuesday. The EV maker said its Shanghai base did great in August. Tesla stock TSLA added 4.7% to its valuation Tuesday after bright news arrived from the Far East. The EV maker’s manufacturing plant in Shanghai rebounded in August with an impressive 84,159 cars shipped to clients. The figure was up from just over 64,000 in the month prior, and higher than the 76,695 delivered in the year-ago August. The Elon Musk-led carmaker is doing numbers this year. Thanks to an increased production capacity, more than 625,000 units have rolled off assembly lines in China, compared with about 400,000 over the same timeframe in 2022. The bump in the numbers is likely to help the company meet Wall Street’s 2023 target of 1.8 million cars manufactured. Tesla stock, which took the number one spot in the S&P 500’s winners list on Tuesday, has charged higher by nearly 140% this year. And what a year it’s been for the EV kingpin. A stellar Q2 report, a keenly awaited Cybertruck production kickoff, and looming EV competition in China have helped boost share price.

 

TSLA: Tesla Stock Lights Up S&P 500’s Leaderboard with 5% Gain on Bright News

Tesla took the main spot in the S&P 500's best entertainers on Tuesday. The EV creator said its Shanghai base did perfectly in August.

Tesla stock

TESLA

 added 4.7% to its valuation Tuesday after brilliant news showed up from the Far East. The EV creator's assembling plant in Shanghai bounced back in August with a noteworthy 84,159 vehicles transported to clients. The figure was up from a little more than 64,000 in the month earlier, and higher than the 76,695 conveyed in the year-prior August.

The Elon Musk-drove carmaker is doing numbers this year. Because of an expanded creation limit, over 625,000 units have moved off mechanical production systems in China, contrasted and around 400,000 throughout the equivalent period in 2022. The knock in the numbers is probably going to assist the organization with meeting Money Road's 2023 objective of 1.8 million vehicles made.

Tesla stock, which took the main spot in the S&P 500's champs list on Tuesday, has charged higher by almost 140% this year. Furthermore, what a year it's been for the EV head honcho. A heavenly Q2 report, a distinctly anticipated Cybertruck creation the opening shot, and the the approaching EV contest in China have assisted support with sharing cost.