Tesla Accelerates with Autonomous Innovations: Shares Surge 12%

Tesla's CEO Elon Musk anticipates a 20-30% rise in vehicle sales next year, driven by autonomous tech advancements and cost-effective models. The company's stock surged 12% after exceeding third-quarter profit expectations, though revenue was slightly lower than forecast. Tesla remains focused on AI projects, production expansion, and cost reduction.

Tesla Chief Executive Elon Musk has announced expectations of a 20% to 30% growth in vehicle sales for the upcoming year. This optimistic forecast is fueled by advancements in autonomous technology and new, affordable model launches. The news drove the company's shares to rise by 12% in post-market trading on Wednesday.

Despite reporting a slight miss on revenue, Tesla exceeded third-quarter profit expectations. The company's performance reassured Wall Street regarding its core commitment to manufacturing and selling electric vehicles, alleviating concerns about new model productions like the robotaxi.

Focusing on expanding its vehicle lineup and investing in artificial intelligence, Tesla's adjustments in pricing strategies and production costs reflect in the improving profit margins. Analysts commended Tesla's efforts to balance vehicle pricing with production costs, signaling stability in stock performance.

(With inputs from agencies.)