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Tesla posts record revenue as Musk shrugs off demand fears

Shanghai factory rebound help boost U.S. EV giant

Tesla CEO Elon Musk walks next to a screen showing an image of a Tesla Model 3 car during a company event in Shanghai in 2020.   © Reuters

NEW YORK -- Tesla recorded its highest-ever quarterly revenue and nearly matched its best-ever quarterly profit in its third-quarter earnings announced on Wednesday, but will likely fall short of its full-year sales goal of 50% growth.

The earnings report comes amid concerns over demand for its vehicles after Tesla said this month it produced 22,000 more vehicles than it delivered last quarter.

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