The German luxury carmaker said its latest compact sedan solves problems that have kept people from buying electric vehicles.
The electric car company run by Elon Musk is facing increasing competition, but investors have focused mostly on the prospects for Tesla’s self-driving technology.
Automakers in the United States and their supporters welcomed President Biden’s tariffs, saying they would protect domestic manufacturing and jobs from cheap Chinese vehicles.
Toyota, the world’s largest automaker, has been criticized for selling few electric vehicles, but its decision to focus on hybrids is paying off financially.