Tesla Receives 50,000 Orders for New Model Y in China, Stock Closes at $403.37 and Peaks at $412 After Hours

Jan 13, 2025, 09:07 PM

Tesla Inc. has reportedly received 50,000 orders for its newly refreshed Model Y in China within the first 24 hours of its launch. The updated Model Y, unveiled last week in China and select markets supplied by Tesla's Shanghai factory, is set to begin deliveries in March. The surge in orders reflects strong demand for the new design, despite mixed reviews on its aesthetics and feature upgrades, which are similar to those of the recently refreshed Model 3. Tesla's stock, trading under the ticker $TSLA, experienced a significant increase, closing the day at $403.37, up 2%, and continuing to rise in after-hours trading, reaching a peak of $412. This performance made Tesla the only stock among the 'Magnificent 7' to finish the day in the green.