Tesla second-quarter profit rises on price hikes

Published by
Reuters UK

(Reuters) -Tesla Inc on Wednesday reported a rise in quarterly profit, as a string of price increases on its best-selling vehicles helped offset production challenges, sending its shares up 4% in extended trading. “With each of the Fremont and Shanghai factories achieving their highest-ever production months and new factory growth, we are focused on a record-breaking second half of 2022,” Tesla said in a statement. Tesla said it has converted approximately 75% of its bitcoin purchases into fiat currency, which added $936 million of cash to its balance sheet. The company has raised prices of it…

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