Tesla (NASDAQ:TSLA) stock will be in focus this week as the electric vehicle giant reports its financial results. The shares have fallen nearly 25% to around $380 after peaking at almost $500 in December last year.
Tesla to Expand its German Production
Tesla’s business is doing relatively well even as its stock remains in a bear market. Its recently released delivery numbers showed that it returned to growth in the second quarter.
The company delivered 480,126 vehicles in the quarter after producing 451,758 vehicles. Deliveries increased significantly from the 358,023 vehicles it delivered in the first quarter of the year.
Now, a new report suggests that the company is boosting its production in its Gruenheide factory in Germany. It now plans to make as many as 7,500 vehicles a week, higher than what it was making last year.
