Why Tesla Shares Are Trading Higher Today

Tesla Inc TSLA shares are trading higher by 1.8% at $609.60 Thursday morning in anticipation of the EV maker's Model S Plaid event. Tesla announced Monday via Twitter: "Model S Plaid delivery event at our Fremont factory will be streamed live on June 10, 7pm Pacific."

Tesla shares are also gaining after Reuters reported Tesla will launch a high-performance version of its Model S to compete against Mercedes and Porsche.

Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. Tesla sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities. Tesla also makes solar roofs and plans to enter the HVAC market.

The Tesla Roadster debuted in 2008, Model S in 2012, Model X in 2015, Model 3 in 2017 and Model Y in 2020. Global deliveries in 2020 were 499,647 units.