Tesla announces change of plans to build cheaper electric cars
by Electrek
Electrek— Tesla announced that it is changing its product plan to introduce cheaper electric cars to be built on its current production lines.
Entrepreneur—Elon Musk Tells Investors Cheaper Tesla Electric Cars Should Arrive Ahead of Schedule. 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.
Yahoo Finance—Tesla stock pops on plans to ramp up affordable car plans. 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...
ETtech.com—Tesla: Tesla's plan for affordable cars takes page from Detroit rivals. 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...