Tesla Shares Gained Value More Than 20 Percent
Shares of U.S.-based electric vehicle maker Tesla jumped nearly 21 percent after it announced surprise data for the third quarter of the year and that it had begun production at its new plant in China.
Tesla shares crossed the $ 300 limit for the first time since March 1, rising as high as $ 307.
The company revealed on Wednesday that it had made a profit of $ 143 million in the third quarter of the year. That figure was above expectations.
Tesla also announced it was starting production at its giant plant in Shanghai, China.
China is still the world’s largest car market.
Tesla has also previously made rapid growth in the Chinese market a key part of its strategy but has been adversely affected by the trade war between the United States and China.
Following a series of scandals that erupted last year, Tesla CEO Elon Musk had been forced to quit his board of directors under pressure from investors.
Elon Musk also announced that Tesla could produce driverless vehicles next year.
Experts, however, are skeptical of Musk’s claim.