Tesla is roaring back from a dismal 2022 as company shares, which have already doubled this year, were driven higher Monday by a spike in second-quarter deliveries.
A driver gets into his car at an electric vehicle charging station outside of a Tesla dealership in Beijing, Saturday, June 24, 2023. Threatened by possible shortages of lithium for electric car batteries, automakers are racing to lock in supplies of the once-obscure"white gold" in a politically and environmentally fraught competition from China to Nevada to Chile.
Tesla is roaring back from a dismal 2022 as company shares, which have already doubled this year, were driven higher Monday by aShares jumped 7% to a new high for 2023 after the electric car maker said its deliveries in the most recent quarter rose 83% compared with the same period last year. Tesla cut prices several times on its four electric vehicle models and buyers took advantage of U.S. government tax credits.
Tesla was pummeled in 2022, pushing shares down nearly 70%. Shares were in decline for most of the year and went into a near freefall after Tesla CEO Elon MuskMusk's takeover at Twitter has been anything but smooth and a myriad of issues have continued to turn off users and advertisers. Musk on Friday said the company would
users could see in a day, angering users and most certainly not winning over advertisers who rely on views when paying for advertising on the platform.
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