(Palo Alto, CA) — Electric automaker Tesla posted a net profit of 104-million dollars during the second quarter. The results were surprising as the company’s Fremont plant was shut down for seven weeks during the quarter because of the coronavirus pandemic. It was the fourth quarter in a row that Tesla has turned a profit, making it eligible for the S & P 500 index of corporate titans. Also, in reaction to what is often called an unfriendly California business climate, Elon Musk announced the company will build its next factory near Austin,Texas. Tesla has announced its second U.S. assembly plant will be built near Austin, Texas. The electric automaker will receive more than 60-million-dollars in tax breaks over the next decade as it develops the site on 21-hundred acres in Travis County. Among the vehicle’s to be produced at the plant will be Tesla’s first all-electric pickup truck.
Peter Finch Copyright © 2020 TTWN Media Networks Inc.
