Business

Thursday 21 November 2019

Motoring ahead: Tesla profit defies the predictions

Elon Musk
Elon Musk

Bloomberg

Tesla blew away expectations with just the third quarter of positive earnings in its history, bolstering CEO Elon Musk's bid to make selling electric cars a lucrative business.

The profit and cash generated sent shares surging to levels last seen in August, when he tried to take Tesla private. The stock sold off in the intervening months, after Musk's claim that he had "funding secured" for such a deal proved faulty.

 All the while, Tesla was achieving breakthroughs to boost production of key Model 3 sedans.

Irish Independent

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