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The decision to prioritize existing factories for vehicle production signals a departure from Tesla's previous intentions of establishing new manufacturing lines. , Companies News - Times Now
Tesla Low Cost Cars: "I think it's a positive that he's not just barreling ahead with an expansion plan, ignoring the challenges in the market and the fact that he's doing a cheaper vehicle from the existing product line," said Elliot Johnson, chief investment officer at Evolve ETFs, which manages nearly USD 6 billion in assets, including investments in Tesla and other EV makers.
"We're updating our future vehicle lineup to accelerate the launch of our low-cost vehicles in a more capex-efficient way," Tesla said.
Tesla's fully electric Class 8 has been delayed at least four times and is five years overdue.
Shares jump after carmaker says it is looking to accelerate production of lower-price EVs