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Today, Tesla released its financial results for the third quarter of 2019, which showed that Tesla's total revenue in the third quarter was $6.3 billion, down 9% from $6.824 billion in the same period last year. Thanks to lower operating costs, net profit in the third quarter of 2019 was $143 million.

In terms of sales, Tesla sold 97000 vehicles in the third quarter, up 2% from the second quarter. Model 3 had the best sales, with a cumulative delivery of 79703 vehicles, up 1% from the previous quarter and 42% from the same period last year. The cumulative delivery volume of ModelS and ModelX is 17483, down 1% from the previous month and 37% from the same period last year. Obviously, the market demand for Tesla's high-end products is reduced, and the cheap Model3 is more popular. After all, you can experience Tesla's function with a more favorable price.

In the third quarter of this year, the gross profit margin of Tesla's automobile business was 22.8 per cent, down from 25.8 per cent in the same period last year, but better than 18.9 per cent in the previous quarter. The company's net profit attributable to shareholders was $143 million, better than the market's expected loss of $257 million. Affected by the news, Tesla's shares soared in after-hours trading, surpassing the $300 mark by 20 per cent, the highest since March this year.

In order to prove that the completion of the Shanghai factory can bring more benefits to Tesla, so in this financial report, Tesla released all the news about the Shanghai super factory, saying that the super factory construction in Shanghai is faster than expected, has begun trial production, China will become the largest market for Model3, and the company has already produced ModelY ahead of schedule, and plans to formally carry out partial delivery next summer.

In addition, Tesla's electric truck Semi plans to limit production next year and hopes to soon announce the location of its European super factory, which plans to start producing electric cars in 2021.

In the financial report, Tesla showed a number of internal photos of the Shanghai super factory, with a total of 28 pages and nine full pages showing pictures of the Shanghai factory. It said it completed the construction within 10 months, the cost of building the production line is 65% lower than that in the United States, and is waiting for the final production permit from the government.

The speed of construction of the Shanghai plant is miraculous, and it has taken only 168 working days to give the plant initial production capacity since it started in January this year. The production-related qualifications and government approval will soon be obtained, and the production will be increased and delivered in the Shanghai factory soon.

At the same time, foreign media quoted sources as saying that Tesla has begun trial production at a Chinese factory with an investment of 2 billion US dollars and will sell the first batch of cars from the factory to employees.

At present, Tesla is under great pressure to increase his global production, so the production plan of the Shanghai factory is particularly important. According to the original plan, Tesla hopes to produce 500000 electric vehicles this year.

Tesla said in April that he planned to produce at least 1000 Model 3 cars a week at the Shanghai plant by the end of this year. However, given Tesla's past "unreliable" record, it is doubtful whether the company will be able to achieve such a goal.

However, analysts believe that Tesla's mass production is also challenging around uncertainties such as labor and suppliers.

Even if Tesla is facing the pressure of his goal, as the Shanghai factory announced by Tesla has gradually become on the right track, it will also be a great blow to the car-building of new forces in China. According to Tesla's undomestic sales in China, he has already "singled out" the top three new forces in the first half of the year, and there will be more shares of domestic Tesla as he seizes the domestic market.

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