Shares of Tesla rose 3% to $129.23 in after-hours trading on Thursday following an 8.9% drop in regular trading hours.

Elon Musk said he foresees the economy will be in a "serious recession" in 2023.

His comments came after a Tesla stock sell-off deepened on Thursday over worries about softening demand for electric cars.

Tesla CEO Elon Musk says the company is close to picking the location of its new "Gigafactory".

Tesla could announce the construction of a Gigafactory in the northern Mexican state of Nuevo Leon as soon as Friday.

He says he will step down as chief executive of Twitter once he finds "someone foolish enough to take the job".