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Tesla overcomes Covid-19 shutdown to post surprise profit of $104 mn in Q2

It was the company's fourth-straight positive quarter, qualifying it to be included in the S&P 500 index of corporate titans

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The company paid roughly 10,000 workers for part of the shutdown and continued health care and other benefits.

AP | PTI Detroit

2 min read Last Updated : Jul 23 2020 | 8:20 AM IST

Tesla overcame a seven-week pandemic-related shutdown at its US assembly plant to post a surprising $104 million net profit for the second quarter.

It was the company's fourth-straight positive quarter, qualifying it to be included in the S&P 500 index of corporate titans. A decision on that will be made later.

Local government restrictions forced the electric car and solar panel maker to close its only US assembly factory in Fremont, California, from March 23 to May 11.

ALSO READ: How Tesla is heralding a new culture in auto industry, one car at a time

The company paid roughly 10,000 workers

Topics : Tesla Elon Musk Tesla Q2 results S&P 500

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