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Volkswagen AG’s CEO again praised Tesla Inc.’s Elon Musk, this time for showing it’s possible to profit off electric cars even in the midst of a global pandemic.

Tesla Inc. managed to stay profitable even in the midst of a global pandemic, but something is still nagging at Elon Musk: the electric-car maker isn’t growing fast enough.

Tesla Inc. lowered the deposit that buyers in China have to put down on its cars, seeking to keep sales momentum in the face of intensifying competition and reductions in the government’s electric-vehicle subsidies.

Tesla Inc. kept growing in China last month, with registrations of its electric vehicles jumping to a record in the world’s largest market as the coronavirus outbreak receded.

The prospect of a Tesla Inc. factory in the Austin, Texas, area has moved a big step closer to reality, after Travis County commissioners on July 14 approved tax breaks the electric vehicle maker requested.

After a torrid rally that saw shares more than double since early May, Tesla Inc. is taking a pause on July 15, even as the broader market rises on the hopes for a coronavirus vaccine.

Tesla Inc.’s relentless surge continued July 13 amid several upcoming events that include the possible unveiling of new battery technology from the electric vehicle maker, entry into a lucrative new market and the potential inclusion of the stock into the prestigious S&P 500 Index.

Tesla Inc.’s Elon Musk said the carmaker is on the verge of developing technology to render its vehicles fully capable of driving themselves, repeating a claim he has made for years but been unable to achieve.

Tesla Inc.’s new Shanghai plant has churned out super-popular Model 3 electric sedans for the past six months, catapulting the company atop the sales chart and piling the pressure on cash-strapped local rivals. There was another casualty last week.

Morgan Stanley analysts lifted their bull-case price target for Tesla Inc. to $2,070 after an “extraordinary” rally saw the stock overshoot a previous best-case scenario of $1,200. But they still don’t recommend buying Tesla shares.