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Technology

China provides 'heart and lungs' for Tesla's S&P debut

Musk reaps golden 2020 as EV maker nears half-million delivery goal

A China-made Tesla Model 3 at the Shanghai Gigafactory: Tesla sold 113,655  Model 3 vehicles in China as of November this year, according to the China Passenger Car Association.    © Reuters

PALO ALTO, U.S./SHANGHAI/HONG KONG -- Tesla celebrated a major milestone on Monday when the electric vehicle maker joined the S&P 500 Index, signaling its arrival as a stock market heavyweight.

Despite dipping 6% at Monday's market open, Tesla's shares have surged more than 600% in 2020, and the company is on track to deliver 500,000 cars this year, a goal it has been targeting for years.

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