TOKYO -- In stark contrast to other U.S. carmakers, Tesla CEO Elon Musk touted China as a platform for future growth as the electric vehicle manufacturer unveiled a surprise return to profits on Thursday that sent its shares soaring.
The new facility in Shanghai was built in a record 10 months, cost 65% less than comparable Model 3 production plants in the U.S., and Tesla said it was "highly confident" that the company would exceed its target of 360,000 vehicle deliveries this year.
