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Report prepare to increase California production



A Tesla Model 3 is seen in the General Assembly at the Tesla Factory in Fremont, California, Thursday, July 26, 2018.

Mason Trinca | The Washington Post | Getty Images

Tesla shares rose in premarket trading Wednesday following a report that the electric car manufacturer will increase production at the California plant.

The company's car president Jerome Guillen said in an email to employees that Tesla is "preparing" to boost production, according to Bloomberg. He eventually said that Tesla "posted new records in all production and efficiency production lines" during the second quarter of this year, while "quality also reached record highs".

"While we cannot be particularly in this email, I know you will be delighted with the upcoming developments," says Guillen.

The Tesla share rose 1

.7% in the premarket from Tuesday's close to $ 230 , 06 per share.

Elon Musk's automaker impressed Wall Street with record second-quarter sales figures, but analysts remain cautious, focusing instead on the company's forthcoming earnings report. Tesla is expected to report Q2 results on August 7.

"Q2 delivery type does not change our cautious outlook on Q2 revenue," UBS said in a note to investors July 3.

Read the entire Bloomberg report here .


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