Tesla Inc (TSLA.O) on Wednesday surprised investors with a quarterly profit that sent its shares soaring, as Chief Executive Elon Musk promised a 2020 rollout of a cheaper SUV and more self-driving technology to stay ahead of larger rivals rushing into the premium electric vehicle market he created.

The company on Wednesday said production in Shanghai and for Model Y are ahead of schedule, with the latter expected to launch by the summer of 2020.

Seems like the analysts see the competition with products like Audi E-tron flopping, having no real answer against Elon's product plan.

What say you spies????

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