Published , by TJ Denzer
Published , by TJ Denzer
Tesla released its Q1 2024 earnings results this week, and while the company was unable to hit its target metrics in key spots, it did lay out some details about plans for cheaper vehicle production pipelines coming next year. According to Tesla, it is in the process of updating its manufacturing lines and platforms to grow its vehicle volumes, which will allow it to produce new and more affordable models in the latter half of 2025.
Tesla discussed its plans for model production acceleration in a statement on its Q1 2024 earnings results. There, the company addressed plans for rolling out new models at more affordable prices:
The statement goes on to share how the changes in production and manufacturing platforms will be a give-and-take of cost reduction:
Tesla didn’t do great in its Q1 2024 earnings results. The company missed revenue and EPS expectations, and its cash holdings dropped $2.5 billion during the quarter. That said, the company is still one of the standards of electric vehicles and its move to produce lower cost vehicles may prove to help it in the long run.
Stay tuned as we continue to report on tech companies as they continue to release their latest quarterly earnings results.