Latest UK News - Breaking News & Headlines

The Fourth Quarter Profit in A Row for Car Manufacturer Tesla

30,742

Tesla made another profit in the second quarter. It is the fourth quarter in a row in which the electric car maker writes black numbers.

 

That means the company can be included in the S&P 500 stock market index.

During the recent period, when Tesla became the automaker with the highest market value, the company had to temporarily shut down some of its factories due to corona measures.

CEO Elon Musk was angry about that. However, the company argues that operational improvements resulted in lower costs and profitability.

Tesla also cut costs itself. In their own words, those steps have prepared the automaker for a successful second half of the year.

In the past three months, the company has seen its cash increase by $ 535 million to $ 8.6 billion.

Tesla will use that money to invest in a new American factory, the production facility that the company is building near Berlin and the expansion of the factory in Shanghai.

Leave A Reply