Tesla shares have already doubled in 2020

PanARMENIAN.Net - Elon Musk asked Twitter users whether Tesla should build a new factory in Texas, as the electric-car maker accelerates a global push to tap rising demand for its vehicles, Bloomberg reports.

The chief executive officer simply asked “Giga Texas?” and invited his 31 million followers to vote “Hell yeah” or “Nope.” As of 10:55 p.m. San Francisco time Tuesday, February 4, more than 90,000 people had voted, with about 80% responding yes.

Shares of Tesla have more than doubled this year, giving it a market value greater than that of General Motors Co. and Volkswagen AG combined. In January, the company started deliveries to customers from its new Shanghai plant -- its first outside the U.S. -- and it’s also planning a factory near Berlin.

Last month, President Donald Trump signaled he expected Musk to add to Tesla’s U.S. manufacturing capacity.

“He’s going to be building a very big plant in the United States,” Trump told CNBC in an interview. “He has to, because we help him, so he has to help us.”