Business & Investment

Tesla’s market value is set to win $ 50 billion in record delivery by Reuters in the first quarter

© Reuters.File Photo: Visitors wearing face masks check out a Chinese-made Tesla Model Y Sport Utility Vehicle (SUV) in a showroom of an electric car manufacturer in Beijing

(Reuters)-Tesla (NASDAQ :) Inc has overcome the effects of a shortage of accused car chips due to a surge in stocks on Monday after the world’s most valuable car makers announced record deliveries. The entire sector was planned to add about $ 50 billion to market value.

Automakers’ stock prices, which rose nearly 8% in pre-market transactions, were on track to hit record highs in more than a month.

Electric car makers said Friday that they were encouraged by the popularity of the Model Y crossover in China and are rapidly moving to full capacity.

Tesla’s first-quarter and fourth-quarter production capacity “stands out in comparison to global light commercial vehicle production trends,” JP Morgan analysts note.

CEO Elon Musk’s personal wealth was boosted by a surge of more than eight times last year’s share price, despite its production being only a small part of its rivals: Toyota Motors (NYSE :), Volkswagen (DE :) and General Motors (NYSE :).

At least three brokerage firms have raised Tesla’s share price target. FCM Wedbush has been most aggressive in raising its target from $ 50 to $ 1,000, well above its median target of $ 712.50, according to Refinitiv data.

According to Refinitiv data, Tesla delivered 184,800 vehicles worldwide in the first quarter of 2021, surpassing an estimated 177,822 vehicles.

Tesla’s share price was $ 713 before Bell, but other EV makers such as NIO Inc, Workhorse Group and Xpeng Inc rose about 3%.

“The (EV) sector appears ready to resume higher marches given the surge in EV demand in China, Europe, and the United States. Tesla’s delivery numbers will make the next rally. It could be the spark you need to jump start. ”

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Tesla’s market value is set to win $ 50 billion in record delivery by Reuters in the first quarter Tesla’s market value is set to win $ 50 billion in record delivery by Reuters in the first quarter

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