Tesla Reiterates New Electric Vehicles On Track For 2025, But CEO Elon Musk Refuses To Divulge Details: 'We're Going To Make Great Products'
Portfolio Pulse from Anan Ashraf
Tesla Inc. (NASDAQ:TSLA) reiterated its plans to start producing new electric vehicles by 2025, including more affordable models. These vehicles will be produced on existing manufacturing lines to optimize current capacity. CEO Elon Musk refused to share more details, citing potential impacts on near-term sales. Tesla's Q2 earnings fell short of expectations, with a 7.8% drop in after-hours trading.
July 24, 2024 | 6:16 am
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Tesla plans to produce new EVs by 2025 on existing lines, including affordable models. CEO Musk withheld details to avoid impacting near-term sales. Q2 earnings missed estimates, causing a 7.8% drop in after-hours trading.
The announcement of new EVs by 2025 is positive for long-term growth but the lack of details and missed Q2 earnings estimates have negatively impacted investor sentiment in the short term, leading to a 7.8% drop in after-hours trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100