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S&P agency upgrades Tesla rating amid solid demand for its cars


S&P Global Ratings on Friday raised Tesla's debt rating up a notch, arguing that the electric car maker ...

The agency S&P Global Ratings on Friday raised the rating given to the debt of Tesla, believing that the manufacturer of electric cars enjoys a solid demand for its products and presents financial indicators



Read also Tesla has the art of escaping semiconductor shortages

"The earnings and cash flow disclosed by Tesla in recent quarters have exceeded our expectations," said

the agency in a statement.

In addition,

"the outlook for demand seems robust worldwide, especially if we take into account the current expansion of production of the group in China, Germany and the United States,"

adds S&P.

Electric vehicles benefit in particular from new regulations and subsidies favoring cars that do not emit polluting emissions in many countries, underlines the agency.

Better supply management

Tesla, S&P also notes, appears to have handled supply chain issues and semiconductor shortages better than other automakers.

Elon Musk's group actually managed to increase deliveries in the third quarter and posted record profits in the process.

By the end of September, Tesla had reached a production rate of one million vehicles per year,

"which is an important threshold



according to S&P.

The agency upgraded its rating by a notch, to BB +, which it matched with a positive outlook.

Source: lefigaro

All business articles on 2021-10-22

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