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Thursday, June 13, 2024

Tesla wanted to make 20 million cars a year by 2030. Never mind

Tesla wanted to make 20 million cars a year by 2030. Never mind

After making the claim in 2021 and 2022 annual reports, the automaker dropped the wording in its latest edition

By Owen Bellwood / Jalopnik, Quartz

Tesla is having a right old time of it right now. If it’s not recalls over shoddy building of its flagship Cybertruck then its mass layoffs and declining sales. Now, the cost of those sales drops is becoming clear, as Tesla has reportedly cut production of some models and dropped one of its most ambitious targets.

The electric vehicle manufacturer reportedly slashed production of its Model Y electric SUV in Shanghai, reports Reuters. New data shows that the EV maker has cut output of its best-selling model by a “double-digit percent” from its Chinese factory. As Reuters explains:

The move is aimed at addressing weakening demand for the U.S. automaker’s aged model in China, its second largest market into which a majority of the cars produced at the Shanghai plant are sold and where a brutal price war has erupted among electric vehicle makers amid an economic slowdown…

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