Tesla gets a boost

Tesla founder Elon Musk has said its new Model 3 car will be ready two weeks ahead of schedule, boosting the value of its shares.

A tweet from Musk on Sunday (2/07/17) said, ‘Expecting to complete SN1 on Friday,’ referring to the first car off the production line.

The five seater vehicle, its lowest cost model to date, has passed all its regulatory tests with production set to reach 20,000 cars a month by December.

The news saw a two per cent rise in share price (on 3/07/17) valuing the company at $60bn on Wall Street, compared with $54bn for General Motors and $46bn for Ford.