Elon Musk Teases Cheaper Tesla Models, Sending Stock Soaring

Published: 24 April 2024 at 03:40

Elon Musk discussed Tesla's plans to produce cheaper electric vehicles in an effort to boost sales during the first-quarter earnings call, causing a 13% rise in Tesla's stock. The specifics, such as pricing and availability, were not revealed. Musk aims to enhance competitiveness against Chinese EVs with low prices. The production of the cheaper models is set to begin earlier than initially planned, potentially starting late this year. Tesla's current cheapest model, the Model 3, starts at $38,990 in the US.

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