Tesla commits to cheaper cars in first half, sees autonomous vehicles ‘in the wild’ soon
Tesla plans to introduce new, cheaper electric vehicle models by the first half of 2025 and will start testing an autonomous ride-hailing service in June. This announcement has boosted investor confidence, despite the company's recent quarterly results falling short of Wall Street expectations. The news of these developments overshadowed last year's dip in Tesla's deliveries, which had intensified the need to release more affordable models and enhance its autonomous vehicle technology.
CEO Elon Musk revealed that Tesla would launch a fully autonomous paid car service in Austin, Texas, soon, with unsupervised tests of its full self-driving software planned for other states, including California, later this year. Alongside these technological advances, Tesla has successfully reduced its production costs, achieving the lowest cost of goods sold in the company's history during the fourth quarter. This reduction in costs, attributed to lower raw material prices, has been well-received by investors, offering reassurance amid previous challenges such as the cancellation of a cheaper vehicle platform last year.
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Tesla plans to introduce new, cheaper electric vehicle models by the first half of 2025 and will start testing an autonomous ride-hailing service in June. This announcement has boosted investor confidence, despite the company's recent quarterly results falling short of Wall Street expectations. The news of these developments overshadowed last year's dip in Tesla's deliveries, which had intensified the need to release more affordable models and enhance its autonomous vehicle technology.
CEO Elon Musk revealed that Tesla would launch a fully autonomous paid car service in Austin, Texas, soon, with unsupervised tests of its full self-driving software planned for other states, including California, later this year. Alongside these technological advances, Tesla has successfully reduced its production costs, achieving the lowest cost of goods sold in the company's history during the fourth quarter. This reduction in costs, attributed to lower raw material prices, has been well-received by investors, offering reassurance amid previous challenges such as the cancellation of a cheaper vehicle platform last year.
via SCMP Full Text Feed
