A Tesla car stands in front of the company's electric car plant in Gruenheide near Berlin, Germany, on March 13, 2024. Photo: Odd ANDERSEN / AFPCelebrate Youth Month with Briefly News! Nominate a young entrepreneur under 35 with an inspiring story to be our 7th 'Young Money Maker'.
Tesla reported profits of $1.1 billion, down 55 percent from the year-ago quarter on revenues of $21.3 billion, down nine percent. While Tesla's statements about new vehicles boosted shares,"the company still hasn't offered timelines for these new vehicles, which could take years to come to market at a time when EV competition in various markets is intensifying," said Gadjo Sevilla, senior technology analyst at Emarketer.Tesla also said Tuesday it will continue to pursue a"revolutionary" manufacturing strategy on a"purpose-built robotaxi product.