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Tesla's Q2 deliveries boost share price

London — Electronic vehicle maker Tesla saw second quarter vehicle deliveries come in at 90,650 units, up 2,250 units from the previous quarter, the company said July 2.

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The news was a boon for Tesla's already lofty share price, trading around $1,200/share at 1450 GMT.

Production came in at 82,272 units during Q2, down from 102,672 units in Q1. This was due to factory outages linked to the coronavirus pandemic.

In Q2, 10,600 Model S/X units were delivered, against 12,200 units in Q1, while 80,050 Model 3/Y were delivered versus 76,200 in Q1.

"While our main factory in Fremont was shut down for much of the quarter, we have successfully ramped production back to prior levels," a statement from Tesla read.

As part of its global expansion, Tesla's fourth Gigafactory -- and the first in Europe -- will be built just outside of Berlin in Germany.

"The new factory will help Tesla capitalize on demand for low-emissions vehicles derived from the EU's stringent auto emissions standards, a policy that could cost the highest emitters hundreds of millions of euros in 2020-2021 compliance fines," Zane McDonald, an EV analyst at S&P Global Platts Analytics said earlier in 2020.

Tesla said it "continues to focus" on expanding production in the US as well as at its newly launched facility in Shanghai, China, and that it broke ground on its Gigafactory Shanghai battery production facility "less than 12 months ago."