Shares of Tesla, Inc. (NASDAQ: TSLA) rose by 1.94% in Thursday’s afternoon trade. The boost comes as the city’s Communist Party Secretary Chen Jining extended a warm welcome to the company, urging them to introduce more new products and technology in Shanghai, China. This news has sparked enthusiasm among investors and Tesla enthusiasts worldwide.
The Communist Party Secretary of Shanghai, Chen Jining, expressed his support for Tesla. He stated that he welcomes increased investment and business cooperation in various areas, including new energy vehicles and energy storage.
Tesla’s CEO, Elon Musk, received this positive message during a meeting with Chen. The statement issued by the city’s government highlighted their intent to deepen cooperation with Tesla. These developments reflect the growing partnership between Tesla and China.
In addition to this exciting development, Tesla is gearing up to unveil a sneak peek of the highly anticipated Model 3 prototype. Sources suggest that the new version of the Model 3 will be longer and sportier than the current model, possibly aligning with Tesla’s cost-cutting efforts under the “Highland” Model 3 project. However, the news is yet to be officially confirmed by Tesla.
Meanwhile, Tesla has already begun delivering Model Y vehicles equipped with the latest self-driving hardware, Hardware 4 (HW4). The upgraded hardware features enhanced cameras with larger lenses and higher resolution capabilities, enabling improved video footage.
On June 1st, TSLA stock opened slightly higher than the previous day’s close and traded between $199.37 and $209.80 throughout the day. The trading volume reached 130.18 million, slightly lower than the average volume of 132.82 million over the past three months. Currently, Tesla’s market capitalization stands at an impressive $617.25 billion.
Zabih Ullah is a seasoned finance writer with more than ten years of experience. He is highly skilled at analyzing market trends, decoding economic data, and providing insightful commentary on various financial topics. Driven by his curiosity, Zabih stays updated with the latest developments in the finance industry, ensuring that his readers receive timely and relevant news and analysis.
