Summary
Tesla plans to introduce more affordable electric cars and aims to get approval for its self-driving software in Europe to boost its struggling business. The company has seen a decline in car deliveries and profits, and is facing challenges such as reduced U.S. government incentives for electric cars and competition from Chinese carmakers. Tesla's financial performance in the first half of the year reflects these challenges, with both revenue and profits declining.
Key Facts
- Tesla plans to launch cheaper car models, starting in June.
- The company faces reduced U.S. government support for electric vehicles.
- Tesla's profits fell by 16% and car deliveries dropped by 14% in the three months to June.
- The company incurred $300 million in costs over the same period due to U.S. tariffs.
- Tesla is seeking approval for its self-driving software in Europe, beginning with the Netherlands.
- The firm's CEO, Elon Musk, has faced criticism for his political activities.
- Tesla's shares have fallen about 30% from their peak last year.
