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Tesla Rises as Musk Sets Faster Production Pace for 2015

Tesla Motors Inc. rose after the carmaker led by Elon Musk reported second-quarter results that beat analysts’ estimates and set a goal to double its pace of electric-vehicle production by the end of 2015.

Excluding some costs, earnings were 11 cents a share in the quarter, the Palo Alto, California-based company said yesterday in a statement on its website. The average estimate compiled by Bloomberg was 4 cents. Tesla plans to be able to build 100,000 vehicles annually by the end of next year.