Tesla beat Wall Street estimates for annual vehicle deliveries and met the low-end of its own target, sending shares to a record high in a vindication for Chief Executive Elon Musk after a few turbulent years.
Yahaira Jacquez reports.
Defying skeptics, Tesla meets delivery goal
Tesla shares shot up Friday to a record high after the company said it delivered 112,000 vehicles last quarter and more than 367,000 vehicles during all of 2019.
...topping Wall Street expectations and meeting its own target of delivering at least 360,000 vehicles by the end of last year.
The delivery results are a vindication for CEO Elon Musk, whose behavior over the last two years has come under close scrutiny from federal regulators and Tesla shareholders.
The electric carmaker also provided an update on its Shanghai factory, which has started churning out its more-affordable Model 3.
It said the plant demonstrated a production run-rate of more than 3,000 vehicles per week.
The $2-billion factory is Tesla's first car manufacturing site outside the United States and is at the center of its ambitions to boost sales in the world's biggest auto market.