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Tesla reported that revenue in the fourth quarter of 2019 was $7.38 billion, up 2 per cent from a year earlier, while net profit was $105 million, down 25 per cent from a year earlier.

As a result, Tesla achieved a total revenue of $24.578 billion in 2019, and the market is expected to be $24.47 billion, compared with $21.46 billion in the same period last year, an increase of 14.6% over the same period last year. The net loss for the whole year was $862 million, compared with a loss of $976 million in the same period last year, narrowing the year-on-year loss.

At present, Tesla shares closed at US $580.99, with a total market capitalization of US $104.72 billion, making it the second largest carmaker in the world by market capitalization, exceeding the market capitalization of Volkswagen Group or GM and Ford combined. Tesla's share price continued to rise after the fourth-quarter results, rising 13% to $654 in after-hours trading, breaking the $600 mark for the first time.

Tesla's share price has risen more than 120 per cent since its third-quarter results were released in October, according to the news.

Earlier, Jia Yueting, founder of Faraday Future FF, congratulated Tesla on becoming the first US listed carmaker with a market capitalization of more than $100 billion.

Tesla's stock price has made history, reflecting market expectations and expectations and confidence in the future of electric vehicles. Some analysts pointed out that the strong performance of Tesla's supply chain has given the market a shot in the arm, and Tesla's market demand is expected to rise further. More importantly, Tesla made a major breakthrough in the layout of the Chinese market. Domestic Model 3 has begun to be delivered, and the price of less than 300000 yuan is very competitive at the same price.

Tesla delivered 367000 electric cars in 2019, meeting Musk's promised target of 360000 to 400000, and is expected to deliver more than 500000 electric vehicles in 2020, an increase of about 40 per cent year-on-year. Tesla superfactory in Shanghai, China has become the key to the increase in production.

Tesla also said that its Model Y (fifth production car) electric car has been put into production ahead of schedule at its plant in Fremont, California, and delivery is expected to begin in the first quarter.

Model Y is a compact SUV based on Model 3. Tesla's official website shows that there are three versions of Model Y. the long-lasting afterdrive costs 444000 yuan, has a range of 540km and can accelerate up to 5.8seconds at 100km. Then there are the long-lasting version of dual-motor all-wheel drive and the high-performance version of Performance, which are priced at 488000 yuan and 535000 yuan respectively. The Model Y is also the second model to be put into production at the Shanghai Tesla Super Factory, which will be put into production at the Shanghai plant in 2021.

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