Tesla shares closed at $ 224.57 (currently about RMB 1,601), up 1.47%, for the ninth consecutive trading day, which also set a record for the company’s longest streak of days since 2021, during which the cumulative increase of nearly 23%.
In addition, Tesla’s market capitalization increased by $125.57 billion (currently about RMB 895.314 billion), or 24.11%, this past May.
Tesla has had a lot of good news lately. Previously, Tesla CEO Musk just finished a visit to China, his second visit after three years, which is seen as an important signal for Tesla to continue to increase its presence in the Chinese market.
On the other hand, the U.S. government confirmed Tuesday that all Tesla Model 3 models are eligible for the $7,500 (currently about $53,475) electric vehicle tax credit, which will bring the rear-wheel-drive version of the Model 3, originally priced at $40,000, directly to the $30,000 bracket, further enhancing Tesla’s appeal to consumers.
Panasonic recently announced plans to expand the capacity of its electric car battery factory jointly operated with Tesla in Nevada by 10% by March 2026, which also reflects Tesla’s confidence in its future electric car sales.
