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Tesla accelerates the introduction of cheaper cars after sales misses

Tesla is accelerating the launch of more affordable models in an effort to stem a deterioration in profit margins and sales.

The electric vehicle maker plans to launch the cheaper cars late this year or early next year, well ahead of the 2025 end date it previously promised. The company is experiencing a decline in turnover because demand for electric vehicles is faltering.

“We have updated our future vehicle range to accelerate the launch of new models ahead of the aforementioned start of production in the second half of 2025, so we expect it to be sooner in early 2025, if not late this year. Tesla CEO Elon Musk said this during a telephone call with analysts.

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