Tesla Inc. shares jumped over 2% on Wednesday following a positive review of the carmaker’s Model 3 by Consumer Reports. The magazine reversed its earlier assessment of the electric car and decided to recommend the Model 3.
Last week, Consumer Reports said Tesla’s electric sedan underperformed in its category in stopping distance from 60 miles (96 kilometers) per hour – at 152 feet or 46.3 meters. However, the consumer organization noted the automaker issued a software update which improved the braking distance by about 20 feet. Tesla CEO Elon Musk thanked Consumer Reports for recommending the Model 3 and noted the company will soon provide a remote software update to improve the car’s user interface.
Tesla shares climbed 2.64% to $291.205 at 6:43 pm CET.