Despite a decline in quarterly revenue for the first time since 2020, Tesla's stock rebounded significantly, adding nearly $50 billion to its market capitalisation. However, some investors remain cautious due to Tesla's history of product rollout delays. The company's strategy to introduce new models is seen as a way to better control capital expenditures amid uncertain market conditions.
Key takeaways:
- Tesla has announced plans to introduce new models by early 2025, including more affordable models, in a bid to revitalise its position in the EV market.
- The company's shares surged nearly 11% following the announcement, despite recent declining sales and competition.
- CEO Elon Musk also teased a 'purpose-built robotaxi product' and outlined plans for Tesla to diversify into artificial intelligence and humanoid robots.
- Despite weak quarterly performance and a decline in revenue for the first time since 2020, Tesla's stock rebounded significantly, adding nearly $50 billion to its market capitalisation.