Tesla is working on cheaper, more powerful batteries for its electric cars, but many of the required innovations are still works in progress, its chief executive, Elon Musk, said Tuesday at a much anticipated presentation at the company’s California factory.
The advances could ultimately cut battery costs more than 50
Tesla on Wednesday reported a profit of $104 million, a result that surprised analysts, who were expecting the electric carmaker to lose money as the coronavirus pandemic squeezed the company on two fronts.
Sales for the second quarter, which ended in June, slowed while much of the economy shut down
Although it has become the world’s most valuable automaker, Tesla still has to figure out how to become consistently profitable, reduce quality problems in its luxury cars and more quickly turn alluring prototypes into mass-produced vehicles.
One area where it hasn’t had much to fret about: competition.
Over the last
It helped Tesla that China rebounded from its coronavirus outbreak much faster than the United States, where auto sales have been slowed significantly by the pandemic.
Tesla’s stock price was up about 8 percent on the news. The stock, which was trading at more than $1,200 on Thursday, has soared
Owning a Tesla, the luxurious electric car, is a major liberal status symbol. It signals nothing more than good taste — the perfect balance of wealth with care for fossil fuels. But the man behind the brand is crafting a very different persona online that may now prove to be
Elon Musk, Tesla’s chief executive, said Monday that the electric-car company was resuming production at its assembly plant in Fremont, Calif., even though it had not yet been cleared to do so by the local health authorities.
“Tesla is
