In the early morning of July 9, Beijing time, Tesla CEO Musk today tweeted a response to Tesla’s June sales in China. He said: ‘The Tesla China team is fantastic! In May, Tesla sold 11,095 Model 3 electric cars from its Shanghai plant in China, according to the China Passenger Vehicle Association. Dan Ives, an analyst at Wedbush Securities, today raised his target price for Tesla from $1,000 to $1,250 in response to Tesla’s second-quarter performance.
Tesla’s strong performance in the second quarter was largely due to the Chinese market, Mr. Avis said in a report. “The strong demand for model 3 in China is a big one for Tesla at a time of relative global macroeconomic downturn,” Mr Ives said. “