Tesla stock up 16 percent after it announces higher deliveries

Jan. 14, 2014 at 11:20 PM
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PALO ALTO, Calif., Jan. 14 (UPI) -- The stock price of U.S. electric car manufacturer Tesla Motors Inc. jumped almost 16 percent Tuesday after the company reported higher production.

Tesla closed at $161.27, up 15.74 percent for the day. The stock price peaked at $194.50 late last year.

The company reported Tuesday that deliveries of its Model S sports car from its assembly plant in Fremont, Calif., were 6,900 in the last quarter of 2013, the San Francisco Chronicle reported. The company had predicted 6,000.

Also this week, Elon Musk, the company founder, said reports Tesla was recalling more than 29,000 cars were incorrect. The story appears to have begun when Tesla announced an update to the Universal Mobile Connector NEMA 14-50 adapter to keep it from overheating while a vehicle is being recharged.

The National Highway Traffic Safety Administration announced the recall Monday but also said owners do not have to bring the cars to service stations. Tesla said it will simply mail new adapters to the owners.

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