Tesla denying the ominous predictions of recent months showed an impressive increase earnings in profits on Q3 with its share price strengthened by more than 20% after the announcement of the results and from the $254.68 closed yesterday its price on the stock exchange New York City is now at $306.
Tesla Q3 net earnings amounted to $143 million or 80 cents per share, out of $311 million or $1.82 per share at the same time last year, while the adjusted earnings were formed to $342 million or $1.91 per share from the $3.02 last year. Also, revenues have been reduced to $6.3 billion from USD $6.82 billion.
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In its 28-page report, the company from Palo Alto announced inter alia that the production of the new Model Y will begin in the summer of 2020, with that of Model 3 in China having already taken the green light in the new factory of the company of Elon Musk that manufactured in Shanghai in record time that didn’t exceed 10 months.
Tesla says it is in the final selection process for where to construct its Gigafactory in Europe and most likely the factory will be built in Germany.