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Benzinga
Benzinga
Business
Pooja Rajkumari

Tesla Shares Surge In Pre-Market On Monday, Hovering Near $400: What's Going On?

Deutsche Bank Elon Musk BYD Tesla Inc. Volkswagen

Tesla Inc. (NASDAQ:TSLA) shares rose by 1.38% early Monday, hovering near the $400 mark, ahead of the bell, according to Benzinga Pro. This increase follows Tesla’s announcement of a new, affordable vehicle model during an investor meeting with Deutsche Bank.

What Happened: The electric vehicle giant revealed plans for the Model Q, a sub-$30,000 car, targeting the Chinese market. The Model Q aims to compete with the BYD Dolphin and Volkswagen ID.3.

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