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Tesla shares accelerate toward $300 on new CEO, deliveries and charging deal with major automakers

By Associated Press - Jul 03, 2023, 11:51 AM ET
Last Updated - Aug 14, 2024, 11:52 PM EDT
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Tesla cut prices several times on its four electric vehicle models and buyers took advantage of U.S. government tax credits

Tesla is roaring back from a dismal 2022 as company shares, which have already doubled this year, were driven higher Monday by a spike in second-quarter deliveries

Tesla is roaring back from a dismal 2022 as company shares, which have already doubled this year, were driven higher Monday by a spike in second-quarter deliveries.  

Shares jumped 7% to a new high for 2023 after the electric car maker said its deliveries in the most recent quarter rose 83% compared with the same period last year.  

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Tesla cut prices several times on its four electric vehicle models and buyers took advantage of U.S. government tax credits. 

Tesla was pummeled in 2022, pushing shares down nearly 70%. Shares were in decline for most of the year and went into a near freefall after Tesla CEO Elon Musk acquired Twitter in a $44 billion deal.  

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