Tesla shares closed at $411.11 on Friday, marking a 3.5% gain and providing some relief after a challenging week for technology and growth stocks. The electric vehicle maker's stock remains down approximately 4.5% over the past five trading sessions.
Solar Ambitions Take Center Stage
Several Tesla executives have publicly discussed recruitment efforts tied to CEO Elon Musk's ambitious solar manufacturing target: 100 gigawatts of U.S. solar production capacity by 2028. This goal represents a significant expansion, as current industry estimates place existing U.S. solar module capacity at 65 GW, with solar cell capacity trailing at just 3.2 GW.
International AI Development
Separately, Chinese media outlet Cailianshe reported that Tesla has established an artificial intelligence training hub in China, focusing on local applications and driver-assistance features. The company's vice president, Tao Lin, was cited in the coverage.
The broader electric vehicle sector continues to face headwinds. Stellantis recently recorded €22.2 billion ($26.5 billion) in charges as it scaled back EV plans, citing softening demand and reduced subsidies. Both Ford and General Motors have also taken EV-related writedowns.
Market participants are bracing for upcoming economic data releases that could influence interest rate expectations and impact growth-oriented stocks. The U.S. Labor Department will publish January's jobs report on Wednesday, February 11, followed by the consumer price index for the same month on Friday, February 13.
