Tesla announced plans to introduce new, cheaper electric vehicle models by mid-2025 and begin testing an autonomous ride-hailing service in Austin, Texas, in June. Despite missing quarterly delivery targets, the company's stock rose 5% thanks to cost reduction measures and the optimism around its vehicle innovation. CEO Elon Musk emphasized ongoing enhancements in manufacturing efficiency, with the cost of goods sold at a record low. These developments come after Tesla's previous abandonment of a mass-market vehicle platform, indicating a strategic shift towards leveraging existing technology.
Tesla's market value has soared with the election of President Trump, who is a close ally of CEO Elon Musk.
Musk told analysts and investors on a call that the company would start testing a fully autonomous paid car service in Austin, Texas, in several months.
They've been able to execute on the cost side and get that down. Their ability to do that in the fourth quarter definitely cushioned the blow.
Tesla will use its current electric vehicle platform and production rather than the previously abandoned Model 2, aimed at the mass market.
Collection
[
|
...
]