TSLA) stock is upbeat — Why Tesla Inc(NASDAQ

Tesla hopes to sell up to 50,000 cars in the first half of this year and if things go as planned, it seems on track to hit that target.

Elon Musk introducing the Model X in September 2015.

"In view of what we know about the automotive markets, and how people spend their money, this would be an unprecedented move", said Salim Morsy, an analyst for the electric vehicle sector at Bloomberg.

In the quarter, Tesla delivered around 25,000 vehicles.

The firm also said this is a 70 per cent increase during the same period of 2016. "These will be counted as deliveries in Q2 2017", Tesla said in a statement. It is also a record value and slightly more than what experts expected. Founded by Henry Ford in 1903, it has remained one of the largest operators in the industry since it pioneered the assembly line in 1908 and introduced the Model T, which sold hundreds of thousands of units.

Elon Musk's electric vehicle company, Tesla, is now worth more than legendary USA automaker Ford Motors. The report says it all. Yes, Tesla stock isn't exactly a bargain right now - especially in the midst of a 30%-plus year-to-date run - but at this point, you shouldn't hold your breath waiting for a cheaper price.

With the Model 3 launch on the horizon, Tesla's business has never been stronger. But since the stock has risen quickly, up 38 percent in 2017, their overall exposure to Tesla has grown.

Last week China's Tencent Holdings bought a 5% stake in Tesla for nearly $1.8bn. Tesla Motors is known for churning out quality cars in Fremont, California. CEO Elon Musk said TSLA intends to produce 500,000 vehicles next year.

Yet such an assertive claim by Musk shows his unbridled optimism and drive for excellence. The Model 3 will be hands down its cheapest vehicle to date, starting at $35,000 before incentives, putting it within reach of the majority of American (not to mention foreign) auto owners. 13,450 Model S and approx. The deliveries total - which marks a company record - topped Wall Street estimates, which ranged anywhere between 23,000 and 24,500 vehicles.