US Stock Market Move | Tesla, Inc. (TSLA.US) opens up nearly 4% with the company's electric car sales in China soaring 91% in February.

On Wednesday, Tesla, Inc. (TSLA.US) opened nearly 4% higher, reaching a two-week high of $414.95 per share. On the news front, Tesla, Inc.'s electric vehicle production in China saw sales increase for the fourth consecutive month in February, exceeding market expectations. The lower sales base from the same period last year effectively offset the adverse effects of seasonal factors. Data shows that the delivery volume of Model 3 and Model Y produced at Tesla, Inc.'s Shanghai Gigafactory in February totaled 58,600 units, including vehicles exported to European markets, representing a significant 91% increase compared to the same period last year, with a 9.3% increase in January. Additionally, according to data released by the China Association of Automobile Manufacturers, the number of electric vehicles exported from Tesla, Inc.'s Shanghai factory last month was about 20,000 units, a staggering 4.2-fold increase compared to the same period last year. Patrick Hummel, head of automotive industry research at UBS Group AG EMEA, stated in an article that the bank's latest teardown series analyzed five next-generation batteries from Contemporary Amperex Technology (03750), Tesla, Inc., and General Motors Company (GM.US)/LGES (Ultium) to understand the pace of change in the electric vehicle field. The results show that a crucial moment has arrived: electric vehicles are narrowing the gap with traditional vehicles in terms of cost, range, and charging time, marking the long-awaited era of affordability.