Tesla is accelerating plans for a lineup of new electric vehicles, including âmore affordable models,â the automaker said in a memo to investors Tuesday. New models previously slated to start production in the second half of 2025 will now launch before then, the company said, implying production will start much earlier.
Itâs unclear whether the new, affordable models are the same mysterious ânext-genâ vehicle that Tesla has previously hinted was in the works, or a new lineup. The companyâs stock price rose by more than 9 percent in after-hours trading late Tuesday.
The change in plans comes after a troubled few months for Tesla, which has faced a lag in US EV sales and the growing global dominance of Chinese rivals. Company results released today showed that both vehicle deliveries and total revenue fell 9 percent in the first three months of 2024 compared…
