The electric vehicle giant Tesla‘s shares posted a significant increase following Donald Trump’s election victory on Wednesday.
As of GMT1640, the price of the firm’s shares was up by around 13.3% to $284.7.
Trump is expected to implement additional tariffs on imported goods, including electric vehicles (EVs), particularly from China.
This situation will strengthen the dominance of Tesla in the U.S. EV market.
Elon Musk, owner of the firm, was one of the biggest supporters of Trump during the election process.