Tesla bounces back

Tesla Model 3 car is on its way to the conveyor belt, and equity price is climbing.

Photo: Tesla

According to Bloomberg News, US EV manufacturer Tesla saw a 9.7 percent increase on its equity price when CEO Elon Musk announced Wednesday at the Annual General Meeting that he is confident the company will finally meet its production target for Model 3.

Musk announced Tesla is "quite likely" to build 5000 Model 3 cars per week before the end of June.

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