Tesla's New Product: A $1,670 Electric Quad Bike For China
Portfolio Pulse from Shivani Kumaresan
Tesla plans to sell a Cybertruck-inspired electric quad bike for children aged 8-12 in China. The bike, priced at $1,670, is expected to go on sale from Friday. The company's factory in Shanghai produces more than 50% of its global electric vehicle production. In June, Tesla China delivered 93,680 units of Giga Shanghai-made cars, an 18.72% increase Y/Y. TSLA shares are trading higher by 0.83% at $274.25 in premarket on the last check Thursday.
July 13, 2023 | 10:35 am
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POSITIVE IMPACT
Tesla's new product launch in China and increased production could potentially boost its stock. The company's shares are already trading higher in premarket.
The launch of a new product in the world's largest auto market, coupled with increased production in Tesla's Shanghai factory, could potentially increase the company's revenues and positively impact its stock. The fact that TSLA shares are already trading higher in premarket indicates positive investor sentiment.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100