News about Tesla's next car is lifting shares for a potential fifth consecutive day of gains.
Tesla stock is trying to make it five winning days in a row, offering investors some relief after recent volatility. News about the next car is boosting shares early in a new week.
What has investors excited is reports coming from Germany about a new Tesla electric vehicle that will be priced around 25,000 euros, or $27,000. Tesla didn’t respond to a request for comment about the plans, but the reports mention casting the vehicle’s frame instead of welding metal parts together. That innovation, which Tesla is already using at its plants in Germany and Texas, can help lower manufacturing costs.
The Cybertruck has proved difficult to build and is due to start shipping to customers this month. CEO Elon Musk says it won’t be a significant profit contributor for years to come.
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