Tesla, Inc. (TSLA, Financial) designs, manufactures, and sells fully electric vehicles, solar products, and energy storage solutions. The stock increased on strong financial results, including profitability that exceeded market forecasts and strong growth across different geographies and vehicle programs. Newly released full self-driving functionality could also lead to improving unit economics and growth opportunities, in our view. Lastly, Tesla joined the S&P 500 Index, a meaningful milestone that expands its potential shareholder base.
From Ron Baron (Trades, Portfolio)'s Baron Partners Fund fourth-quarter 2020 shareholder letter.
