Tesla founder Elon Musk attends Offshore Northern Seas 2022 in Stavanger, Norway on Aug 29, 2022.SAN FRANCISCO — Tesla Inc will cut assembly costs by half in future generations of cars, engineers told investors on Wednesday , but Chief Executive Elon Musk did not unveil when it will debut a much-awaited affordable electric vehicle.
But there were no details about when next generation cars would be launched and what models would be offered. Musk did not comment on plans to revamp the Model Y sedan next year, called Project Juniper that Reuters flagged in a report on Wednesday, or a revamped version of its Model 3 sedan — a project codenamed Highland which Reuters has reported will go into production in September.Capturing the mass market is critical to Tesla's annual production goal, which is more than the combined production of the two largest volume vehicle makers — Germany's Volkswagen and Japan's Toyota.
Tesla is the most valuable automaker, but its stock has swung wildly. Shares are down about half from their November 2021 peak, but have rebounded more than 60 per cent this year.
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