Tesla lowers 2030 sales target as boards explore SpaceX merger
Tesla has set a goal of selling 5 million vehicles annually by 2030, sharply below Elon Musk’s earlier ambition of 20 million, as the company expands its focus from electric cars to artificial intelligence and robotics.
Musk said during Tesla’s Wednesday earnings presentation that the automaker had a “good shot” at reaching the target and was adding manufacturing capacity. Tesla delivered 1.6 million vehicles last year. Third-quarter deliveries totaled 486,532, 2% fewer than a year earlier but above analysts’ forecasts, according to The Irish Times.
Tesla reported quarterly revenue of about $28 billion and adjusted net income of $1.7 billion, down 4% from the prior year but slightly ahead of Wall Street expectations. Its shares fell about 3% in after-hours trading as investors weighed the results and Musk’s warnings that scaling robotics and chip manufacturing would take time. …