Tesla Speeds Model Y Timeline and Extends Range, Boosting Shares

Tesla Inc. said it started ramping up production of the new Model Y crossover SUV this month and that deliveries will begin by the end of the quarter, an acceleration of the timeline that helped send shares higher in after-hours trading.

And in even more encouraging news for potential buyers, the company also said Wednesday it has increased the Model Y’s range, a key metric of electric-vehicle performance. Shares rose about 6.5% after the close of regular trading.