Earnings miss notwithstanding, momentum continued to build for Tesla's stock, which was rallying 11% in after hours trading. That's in large part because the EV maker said it plans on adding to its lineup and marketing a cheaper EV as early as next year, while investing in robotaxis as well. These
Tesla CEO Elon Musk says Tesla plans to build “affordable models” that incorporate pieces of a next-generation platform on the production lines in the company’s existing factories in China, Germany, California and Texas.
Tesla shares surged 12% on Wednesday after CEO Elon Musk said the company plans to produce new affordable EV models by early 2025.
After Tesla experienced its first sales drop in four years, CEO Elon Musk told shareholders that the electric car company would start producing more affordable electric cars ahead of schedule.
Elon Musk's new plan to use current product lines as the basis for new affordable vehicles - rather than springing for all-new models - follows the playbook of Tesla's old-school Detroit rivals, as some Tesla investors and analysts see it. The shift toward incremental improvement, mirroring a common strategy of Ford and General Motors, suggests the future of car-making that Musk has promised to disrupt may still look a lot like the past. Musk's new strategy followed an exclusive Reuters report...
Rapper, 36, initially detailed accident involving costly vehicle last month. He said that brake pedal broke and safeguards didn't activate. Philadelphia native said Hummer EV broke down four hours after he got it
Global electric vehicle sales are set to rise by more than a fifth to reach 17 million this year, powered by drivers in China, according to the International Energy Agency. In a report Tuesday, the IEA projected that “surging demand” for EVs over the next decade was set “to remake the global auto industry and significantly reduce oil consumption for road transport.” It expects half of all cars sold globally to be electric by 2035, up from more than one in five this year, provided charging...
By Hanna Ziady, CNN London (CNN) — Global electric vehicle sales are set to rise by more than a fifth to reach 17 million this year, powered by drivers in China, according to the International Energy Agency. In a report Tuesday, the IEA projected that “surging demand” for EVs over the next decade was set
By Hanna Ziady, CNN London (CNN) — Global electric vehicle sales are set to rise by more than a fifth to reach 17 million this year, powered by drivers in China, according to the International Energy Agency. In a report Tuesday, the IEA projected that “surging demand” for EVs over the next decade was set
Shares jump after carmaker says it is looking to accelerate production of lower-price EVsTesla sees biggest revenue drop since 2012 but shares still surgeElectric and hybrid car sales to rise to new global record in 2024Tesla’s plans to bring a more affordable electric vehicle to the market appear to have moved a step closer.On Tuesday, the company’s share price shot up by 12% after an update revealed the carmaker was hoping to accelerate the production of lower-priced EVs, with production of...
Tesla (TSLA) reported first quarter results that missed analyst estimates on both the top and bottom lines. Adjusted earnings per share of $0.45 fell short of the $0.52 Wall Street was expecting. Revenue of $21.3 billion fell short of the estimated $22.3 billion. Operating income also missed, $1.17 billion versus the $1.53 billion estimate. However, the company said it plans to accelerate the launch of new models, including a more affordable one. Yahoo Finance's Julie Hyman and Jared Blikre are...
Tesla announced that it is changing its product plan to introduce cheaper