Tesla Motors sales soaring

City A.M. Reporter
ELECTRIC car maker Tesla Motors said yesterday that deliveries of its Model S sedan in the fourth quarter blew past what the company had forecast, sending shares up more than 10 per cent in New York.

Tesla, run by tycoon Elon Musk, delivered 6,900 Model S sedans in the quarter, 20 per cent above what the company had forecast, Jerome Guillen, the company’s vice president of global sales and service, said at the Detroit auto show.

Diarmuid O’Connell, Tesla’s vice president of business development, said later that the company has no plans to work with a partner to develop a new family of compact cars, known internally as Gen III and slated for production in 2017.