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Electric cars in China

Tesla shares close at record high after sales triple in China

US electric carmaker sold 11,095 Shanghai-made Model 3s

Tesla has cut the price of Model 3, shown here at the Auto China 2018 motor show, twice in China since January this year.    © Reuters

PALO ALTO, U.S. -- Tesla's stock closed at an all-time high on Monday after data showed the U.S. automaker's sales in China bounced back in May.

Earlier in the day, the China Passenger Car Association (CPCA) reported that Tesla delivered 11,095 made-in-China Model 3 vehicles last month -- more than triple the 3,635 sold in April and breaking the previous record of 10,160 units in March. 

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