Tesla reports higher profits, says expansion on track
The Hindu
Elon Musk's electric car company reported profits of $438 million compared with $16 million in the year-ago period, following a 74% rise in revenues to $10.4 billion
Tesla reported a jump in first-quarter profits Monday on surging automobile sales and said it was on track to boost automotive capacity at factories in three countries. Elon Musk's electric car company reported profits of $438 million compared with $16 million in the year-ago period, following a 74% rise in revenues to $10.4 billion. Tesla, which was co-founded by Musk with the mission of remaking the automotive market, pointed to a stream of new electric models unveiled by rivals such as Detroit's "Big Three" automakers as U.S. President Joe Biden's administration promotes electric car usage.More Related News