Tesla Motors Over 4% After Model S Delivery Announcement

Tesla Motors

is trading higher on the session following its announcement to start customer deliveries of Mode S on June 22. The company announced in its Q1 earnings report that it would start the deliveries ahead of the original schedule of July 2012. Elon Musk, Tesla Motors CEO and Chief Product Architect said: "In 2006 our plan was to build an electric sports car followed by an affordable electric sedan, and reduce our dependence on oil. Delivering Model S is a key part of that plan and represents Tesla's transition to a mass-production automaker and the most compelling car company of the 21st century." Tesla Motors is currently trading at $30.09, a gain of $1.32 or 4.59%.