EV maker adds more than $150bn in market value after billionaire says sales may increase as much as 30% next year
(The Post News)- Tesla, Inc., an innovative electric vehicle (EV) manufacturer, has once again attracted the attention of investors and industry observers. After an impressive increase in stock value, driven by Elon Musk’s optimistic sales projections, the company’s market capitalization has soared.
As both the CEO and largest shareholder of Tesla, Musk’s forecasts hold substantial influence, affecting investor confidence and shaping the company’s direction. Demonstrating a consistent history of innovation and disruption, Tesla has continuously pushed the boundaries in the realm of electric transportation.
Musk’s forward-thinking leadership has guided the company through various obstacles, including production challenges and regulatory scrutiny. Now, his optimistic forecast suggests a bright future for Tesla and the EV industry.
The stock price of the company surged by 22%, hitting $854 per share, resulting in a market capitalization increase of over $150 billion. The trading volume significantly surpassed the usual levels, showing a renewed confidence among investors. This significant surge has reversed the recent declines, rejuvenating investor sentiment.
Musk has forecasted a 30% increase in sales by 2025, attributed to the expansion of Tesla’s product range and the growing demand for electric vehicles (EVs). It is expected that annual deliveries will reach 2.5 million vehicles, with a focus on strategic markets in China, Europe, and North America.
Tesla also provided an update on the number of Nvidia H100 graphics processing unit chips installed at its Texas manufacturing plant for training the AI systems supporting its self-driving technology, known as FSD.
Trump has promised to appoint Musk as the leader of a “department of government efficiency” to propose reductions in spending, bureaucracy, and regulations, a role that could advantage his other businesses such as SpaceX and social media network X. However, these political actions may anger Democratic candidate Kamala Harris if she becomes victorious.
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