Stocks of Tesla Motors, one of the fastest-growing American automotive companies, increased by 6.44 percent to $239.32 on Thursday, following one of its vehicles receiving a 103 out of 100 rating by Consumer Reports.
Bloomberg reports that the vehicle, the battery-powered Model S P85D, was ranked as having "exceptionally strong performance," thus justifying it surpassing the maximum rating.
"This is a glimpse into what we can expect down the line, where we have cars with the performance of supercars and the comfort, convenience and safety features of a luxury car while still being extremely energy efficient," Consumer Reports automotive testing official Jake Fisher told the site.
"We haven't seen all those things before."
Elon Musk, the Chief Executive Officer of Tesla Motors, released new information about the highly-anticipated "Charging Snake" that is used for Model S electric vehicles earlier this month.
Musk first unveiled the new product back in December, when he posted a picture on Twitter mentioning that he was working on a "solid metal snake" charging system. The "Charging Snake" functions by lowering itself toward the charging port and plugging itself, subsequently jumpstarting the charging process.
Tesla Motors is reported to have a market cap of $31 billion, surpassing Chrysler's market value estimate of $21 billion.
In terms of sales, however, the first company sold less cars (50,000) in the last financial quarter than the second (633,000).
The Palo Alto-based company recently announced plans to invest in solar-powered charging infrastructure throughout Japan.
"We'll buy utility power that's coming from solar panels, or we'll have solar panels on the charge station itself," Musk told Nikkei, according to Reuters.
"There will be no impact to the electrical grid in Japan."
