On Monday morning, Tesla announced that it delivered a record number of vehicles in the first quarter. Here’s what the news means for mutual fund investors.
Inside the News
Tesla announced that it delivered 10,030 cars in the first quarter, which is a record number of quarterly deliveries for the electric car maker, and is up 55% from last year.
The company expects to deliver 55,000 vehicles in 2015, and 500,000 by 2020.
Expanding the Supercharger
While the company continues to face regulatory pressures, it has expanded its superchargers. The project currently has a $1.5 billion budget through 2015. To view the company’s 2015 and 2016 plan to expand supercharger stations, click here.
Mutual Funds to Watch
Investors interested in Tesla may be interested in the funds listed below. These funds currently have the largest stakes in the company.
| Symbol | Mutual Fund | Stake |
|---|---|---|
| FCNTX | Fidelity® Contrafund® | 3.40% |
| PRGFX | T. Rowe Price Growth Stock | 1.38% |
| VTSMX | Vanguard Total Stock Market | 1.18% |
The funds listed above allow investors to gain exposure to Tesla while remaining diversified. Investors interested in Tesla may also be interested in General Motors (GM) or Ford (F).
If you’ve enjoyed this article, sign up for the free MutualFunds.com newsletter; we’ll send you similar content weekly.