SAN FRANCISCO : Tesla Inc Chief Executive Elon Musk on Wednesday afternoon is expected to lay out a plan to make a smaller, more affordable electric vehicle in a move aimed at broadening his brand's appeal and fending off competition. Capturing the mass market is critical to Tesla's goal of increasing de
SAN FRANCISCO : Tesla Inc Chief Executive Elon Musk on Wednesday afternoon is expected to lay out a plan to make a smaller, more affordable electric vehicle in a move aimed at broadening his brand's appeal and fending off competition.
Musk could also describe plans to update the company's best-selling vehicles, after Reuters revealed its"Project Jupiter" plan to revamp its Model Y SUV. The Investor Day event will be webcast from Tesla's Texas factory and is scheduled to start at 4 p.m. EST . Tesla has become the world's most valuable car company by far, and the billionaire CEO has aspirations of cracking the mass market and turning the EV maker into a company that can create a more climate-friendly world.
But Tesla cut prices in recent months to boost sales, which were pressured by a weak economy and growing threats from rivals in the United States and China.Tesla has promised to talk about expansion and capital expenditure plans, with a wide variety of projects from batteries to self-driving technology to new factories likely to be discussed.
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