Tesla's Stock Climbs Above $400 for the First Time in Over a Year

On Monday, Tesla Inc.'s shares experienced a significant boost, surpassing the $400 mark for the first time since January 2022. This surge marks the highest price the stock has reached since November 2021, reflecting a 3.56% increase at 9:39 am ET, with shares trading at $403 apiece.

Cybercab Updates and Future Plans

Last week, Tesla unveiled further details about its upcoming Cybercab. An engineer highlighted plans for a substantial reduction in production costs, aiming to deliver a vehicle with approximately half the parts of the current Model 3. Additionally, Tesla is targeting the launch of its Full Self-Driving service in 2025, coinciding with anticipated regulatory relaxations on autonomous driving under the incoming administration of United States President-elect Donald Trump.