Investing.com – The automaker’s announcement of plans to produce a robotaxi after denying the development of a cheaper, “people’s” electric car sent TSLA shares higher on Tuesday, Yahoo writes.
“We have refreshed our future vehicle lineup to accelerate the introduction of new models ahead of our previously announced production start in the second half of 2025,” the company said in its first-quarter shareholder announcement.
The head of the company, Elon Musk, did not specify the specific timing of the release of new cars – it could be either at the beginning of 2025 or this year, but later. However, on August 8, Musk promised to introduce the first robotaxi.
About the latter, he stated, in particular, that these will be new cars, including more affordable ones, with a next-generation platform, and will be produced on the same production lines as our current line of cars.
Tesla (NASDAQ:) shares were up 11% in after-hours trading.
The company’s first-quarter adjusted earnings per share were $0.45, below estimates of $0.52, on revenue of $21.30 billion, missing estimates of $22.3 billion. Tesla’s revenue fell 9% year over year.
Tesla reported operating income of $1.2 billion in the first quarter and $1.5 billion in adjusted net income, which was down more than 50% from a year ago.
In the first quarter, 386,810 vehicles were delivered, well below the estimate of 449,080, and 433,371 vehicles were produced, also below the estimate of 452,976. In its first-quarter report, Tesla noted that Cybertruck production reached 1,000 units per week in April.
— Yahoo materials were used in preparation
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