News from China that motorists are getting their first Teslas has analysts and investors excited again about Tesla stock.
Though it dipped 2.78 percent between April 11 and 11, the stock picked up 3.16 percent on Monday and another 5.19 percent Tuesday, which helped the stock beat the DOW, which is currently up .67 percent.
Analysts said the stock jump could be attributed to Tesla’s strong showing in China, where the green automaker delivered its first eight cars to consumers on Monday. Tesla CEO Elon Musk backed the delivery with promises to invest “several hundred million dollars” to open “several hundred” charging stations in China. He also said he hopes to be manufacturing cars in the region for three to four years.
But all eyes weren’t just on Tesla’s Chinese berth, Musk also made comments that he believed Tesla would be partnering with Panasonic for its U.S. Gigafactory, which is being planned for the Southwest.
When speaking to the Wall Street Journal, Musk said he “would be surprised if Panasonic is not our partner.”
Texas, Arizona, New Mexico and Nevada are all in consideration for the $5 billion Gigafactory, which would create 6,500 jobs and be a huge resource for lithium-ion batteries.