2/18, 3:56 PM (Source: TeleTrader)
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Chart for: Tesla, Inc.

Tesla surges over 7%, hits two-week high

Tesla Inc. jumped over 7% on Tuesday as it reportedly considers using Chinese battery manufacturer CATL's cobalt-free batteries for its vehicles, intending to lower production costs.

Meanwhile, the California-based company reopened its Gigafactory in Shanghai after it was closed for weeks due to the coronavirus outbreak. The carmaker also announced last week that it will offer $2 billion in common stocks, aiming to secure funding to "further strengthen its balance sheet."

Tesla's stocks soared 7.27% to go for $858.7925 per share at 10:02 am ET.

Breaking the News / GA