Tesla's shares rose about 13 percent after trading to $660. Tesla's latest earnings showed better-than-expected profit and expected strong production in 2020. Tesla's fourth-quarter 2019 revenue was $7.38 billion, with a market forecast of $7.02 billion, according to earnings, compared with $7.23 billion in the same period last year. Tesla's GAAP EPS for the fourth quarter of 2019 was $0.81, with a market forecast of $0.78.
Tesla's free cash flow in the fourth quarter was $1.01 billion, with a market estimate of $429.5 million.
Model y electric vehicles have been put into production ahead of schedule at the Fremont plant in California, USA, which will start delivering model y at the end of the first quarter of 2020. It is expected that the model y electric vehicle will be put into production in the Shanghai plant in 2021.
By mid-2020, when the expansion is completed, the model 3 and model y assembly capacity of the Fremont plant in California should reach 500000 vehicles per year. The Berlin / Brandenburg plant in Germany is expected to deliver the first vehicle products in 2021.