Tesla has become one of the most talked-about stocks on the markets and a top choice among Gen-Z investors. The company’s cool cars, eco-friendly goals, and eccentric billionaire CEO (Elon Musk) are behind the growth. Putting it into number, Tesla’s revenue grew to around 53.8 billion U.S. dollars in the 2021 fiscal year, a 71 percent increase from the previous year. The United States is Tesla’s largest sales market, but Tesla is making moves to expand abroad and plant a strong foothold in global markets. Recent actions to expand globally could be best seen just yesterday, as Elon Musk officially opened Tesla’s first manufacturing facility in Germany. The opening not only helps expand Tesla’s global reach but helps take pressure off Tesla’s other factories in the U.S. and China.
Musk was even seen dancing as he watched over the delivery of Tesla’s first German-made cars to 30 clients and their families at the carmaker’s. Musk’s gleeful mood is reflected in his words as well, with him saying: “This is a great day for the factory another step in the direction of a sustainable future”. The new giga-factory will be a major player in overall manufacturing, producing around 500,000 vehicles annually. Hopefully, this will help Tesla keep up with demand and shorten delays for Model Ys and certain Model 3s in different parts of the world. What do you think about the new Tesla factory? And are you planning to purchase a Tesla?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.