Page 29 - Tom Narayan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Tesla's future includes being an auto parts company, according to RBC's Tom Narayan.

Several automakers are halting a full-steam-ahead approach to electric vehicles, citing economic uncertainties and underscoring fears regarding a slowdown of demand for the cars.

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Tesla on Wednesday joined General Motors and Ford in being cautious about expanding electric vehicle production capacity, citing economic uncertainties and underscoring fears of a slowdown in demand. Tesla CEO Elon Musk said he was worried that higher borrowing costs would prevent potential customers from affording its vehicles despite substantial price cuts, and that he would wait for clarity on the economy before ramping up its planned factory in Mexico. "People hesitate to buy a new car if there's uncertainty in the economy," Musk said on a post-earnings call where he also ...

Musk's comments, which sent Tesla shares down more than 4% in after-market trading, come after warning bells from other automakers and EV startups.