DETROIT, Michigan (AP) — Tesla overcame a seven-week pandemic-related shutdown at its US assembly plant to post a surprising US$104 million net profit for the second quarter.

It was the company’s fourth-straight positive quarter, qualifying it to be included in the S&P 500 index of corporate titans.

Local government restrictions forced the electric car and solar panel maker to close its only US assembly factory in Fremont, California, from March 23 to May 11. The company paid roughly 10,000 workers for part of the shutdown but continued health care and other benefits.

The surprising profit, compared with a US$408 million loss a year ago, pushed Tesla’s shares up 5.3 per cent to US$1,676.22 in after-hours trading Wednesday.

Tesla would have lost money, though, without the US$428 million it earned from selling electric vehicle credits to other automakers so they can meet government fuel economy and pollution regulations.

The company said its profit increased over the first quarter’s tiny $16 million because of “fundamental operational improvements.”                                           

 The progress, it said, has positioned it for success in the second half as production output continues to improve.