Tesla shares are trading higher after the Energy Department recently confirmed all Model 3 variants qualify for a $7,500 EV tax credit. It was also reported the company is planning to produce 375,000 Cybertrucks per year. The company is also reportedly planning a Spain factory.
Portfolio Pulse from Benzinga Newsdesk
Tesla shares are up as the Energy Department confirms all Model 3 variants qualify for a $7,500 EV tax credit, and the company plans to produce 375,000 Cybertrucks per year.
June 08, 2023 | 4:25 pm
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Tesla's stock is trading higher after confirmation of a $7,500 EV tax credit for all Model 3 variants and plans to produce 375,000 Cybertrucks per year.
The Energy Department's confirmation of the $7,500 EV tax credit for all Model 3 variants makes the vehicles more attractive to potential buyers, likely boosting sales. Additionally, the planned production of 375,000 Cybertrucks per year signals strong demand and growth potential for Tesla, positively impacting the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100