What's going on?

The results are in: Tesla announced over the weekend that it delivered more cars than expected last quarter, as more and more buyers feel positive about the EV giant.

What does this mean?

Investors like to know how many cars Tesla delivers each quarter, both because it has a major influence on the company�s bottom line and because it gives an insight into broader demand for electric vehicles (EVs). And last quarter was a doozy: Tesla delivered a better-than-expected 309,000 cars � 28% more than the previous quarterly record and the company�s seventh consecutive quarterly gain (tweet this).

That�s partly down to China�s growing EV appetite, but it�s also got a lot to do with how well Tesla�s handled the chip shortage. The EV-maker, after all, has close relationships with its suppliers, as well as the flexibility to use different kinds of semiconductors in its vehicles. But Tesla�s not resting on its laurels: its two newest factories are set to boost production this year, as part of the company�s goal to deliver 50% more EVs every year.

Why should I care?

For markets: Tesla puts its rivals to shame.
Tesla�s stock soared almost 50% in 2021, making it one of the few US companies now worth more than $1 trillion. Then, after this update, investors sent its stock up by another 14%, adding $144 billion to its market value. And here�s the kicker: that gain alone is more than the individual values of nearly 90% of the companies in the key US stock market index.

Zooming out: LG wants to cash in.
Tesla�s suppliers are riding the wave too: LG Energy Solution � one of the world�s biggest EV battery makers ��is set to list on the stock market later this month, in a move that could value the company at $59 billion. The listing�s on track to be the biggest-ever in South Korea, with the company looking to raise up to $11 billion to meet growing demand.