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Tesla results send shares soaring as Gigafactory ramps up production

US electric carmaker sees limited coronavirus impact and aims to sell half million vehicles in 2020

Tesla CEO Elon Musk, seen here at a Jan. 19 news conference, said Wednesday he is “excited and optimistic" about the Shanghai factory's potential.

PALO ALTO, U.S. -- Tesla will "comfortably" sell more than 500,000 vehicles in 2020 as its Shanghai Gigafactory continues to ramp up production, the electric carmaker announced on Wednesday, adding that it expected its operations to suffer little impact from the coronavirus outbreak in China.

"I'm really excited and optimistic about the potential for the Shanghai factory. I think it's just going to be an incredible asset to the company," Tesla CEO Elon Musk said in an earnings call the same day.

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