Tesla stock sinks after mixed Q2 results, says 'affordable' EVs on track for 2025 debut

Category: Finance

Tesla's stock fell over 11% after mixed Q2 results showed lower growth expectations for 2023. Revenue was $25.05 billion, exceeding estimates, but adjusted profits fell short. The company plans to produce new, more affordable EVs by mid-2025 and will unveil its robotaxi on October 10. Despite a drop in deliveries compared to last year, Q2 deliveries improved significantly from Q1, indicating a potential positive shift in demand. Tesla also achieved a record in battery energy storage deployment.

Keywords: Tesla, stock market, electric vehicles

Source: Yahoo Finance

Update At: 7/25/2024

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