Tesla Inc reported its fifth consecutive quarterly profit on record revenue of $8.8 billion.
The company also affirmed its target to deliver half a million vehicles by the end of this year.
Tesla said it had the capacity installed to produce and deliver 500,000 vehicles this year, but added that achieving its goal has become more difficult.
“Achieving this target depends primarily on a quarter over quarter increases in Model Y and Shanghai production,” the company said.
At $394.5 billion, Tesla’s market capitalization has become the largest among all global automakers.