After the company announced price increases for its Model Y electric vehicles in some European nations and the US, Tesla’s shares (TSLA.O), opens new tab, surged by over 7% on Monday.
In a company statement on Saturday, Tesla stated that the price of its Model Y cars will rise by about 2,000 euros ($2,177) in various European nations as of March 22. Price increases of $1,000 taking effect on April 1st were announced on Friday for all Model Y cars in the United States.
Following the announcements, Tesla shares increased by almost 7% on Monday, reaching a high of $174.72. Following its near 10-month low last week, the stock is poised to rise for the second day in a row. It was recently 5.8% higher at $173.13.
