Tesla Shares Rise as Company Reports Increased Production

July 11, 2019—Tesla shares rose in trading on Wednesday after a report that the electric automaker will raise output at its factory in California, reported CNBC.

Tesla stock rose 2 percent from Tuesday’s close of $230.06 a share.

The company’s automotive president Jerome Guillen said in an email to employees that Tesla is “making preparations” to increase production, according to Bloomberg. 

He reportedly said Tesla “hit new records in all production lines for output and efficiency” during the second quarter of this year, while at the same time “quality is also reaching record highs.”