Shares of Tesla Inc. jumped 18 percent on Monday as signs it had met targets for quarterly car production added to relief at Chief Executive Elon Musk's settling of a lawsuit with regulators that had threatened to force him out.
The electric carmaker's shares sank last week after the U.S. Securities and Exchange Commission accused Musk of securities fraud, opening up the prospect of a long-drawn out fight that could have seen Tesla lose its leader, and undermined its ability to raise capital and ramp up production.
Under the settlement announced at the weekend, Tesla and Musk will pay $20 million each to the regulator and Musk will step down as chairman but stay as CEO, leaving in place one of America's best-known corporate figures.