Tesla slows down on electric vehicles, but not on AI

Tesla slows down on electric vehicles, but not on AI


After years of growth at breakneck speed, You’re here seems to be slowing down. That’s reasonable, but investors didn’t put an $867 billion market value on the company because they like common sense.

CEO Elon Musk was particularly pessimistic during Tesla’s third-quarter earnings conference call Wednesday evening. The world’s richest person has warned that the company’s highly anticipated new model, the Cybertruck, could take 18 months to turn a profit given the “immense work” required to reach volume production. And he lamented the impact of rising interest rates on vehicle affordability, meaning Tesla is struggling to clear inventory despite this year’s price cuts.

Copyright ©2023 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8



With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
Back to top button