Car company sees biggest single-day stock gain since 2013 as CEO Elon Musk forecasts up to 30% in sales growth

Tesla shares closed up nearly 22% on Thursday – their biggest single-day gain in over a decade – as Elon Musk’s bold forecast of surging sales reassured investors he was still looking to grow its core business of selling electric cars. At close, nearly $150bn was added to the company’s market value.

Musk forecast 20-30% in sales growth next year, promising to launch an affordable vehicle in the first half of 2025, and said efforts to slash production costs boosted margins in the third quarter.