Tesla Boosted Output at Its Plant in China. It Had To.

Tesla has unveiled its updated Model 3 EV sedan in China, featuring a sportier exterior, improved battery range, and faster acceleration, although surprising many with a 12% price increase; the upgraded model is expected to boost sales and profit margins for the electric vehicle giant.

Tesla was able to boost its sales in China by 9.3% in August, thanks to price cuts.

China's passenger vehicle sales experienced growth in August, driven by discounts and tax breaks on environmentally friendly and electric cars, despite a weak economy, and Tesla's share of the Chinese electric vehicle market nearly doubled.

Tesla stock surged 10% and added over $70 billion to its market value after Morgan Stanley upgraded it and highlighted the potential value of its Dojo supercomputer, which could drive a 50% increase in the company's stock upside.

Tesla is planning to build another factory and is being sought after by various locations around the world.