Tesla (TSLA, Financial) benefited, as expectations solidified around its ability to produce 800,000 vehicles in 2021 versus 499,000 in 2020. Interestingly, Tesla produced a record number of vehicles in China during September. Overall demand for electric vehicles remains very strong, and we remain confident that Tesla can increase its annual vehicle production at a 50% rate over the next several years.
From Spiros Segalas (Trades, Portfolio)' Harbor Capital Appreciation Fund third-quarter 2021 commentary.
