Tesla (TSLA.O) on Wednesday joined General Motors (GM.N) and Ford (F.N) in being cautious about expanding electric vehicle production capacity, citing economic uncertainties and underscoring fears of a slowdown in demand.
Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. REUTERS/Aly Song/File Photoin being cautious about expanding electric vehicle production capacity, citing economic uncertainties and underscoring fears of a slowdown in demand.
Narayan said he expected this to be a "dip" that improves as prices of EVs fall and lower-priced variants are available. To prevent demand from waning, market leader Tesla, with industry-leading profit margins, has been the first and most aggressive in slashing prices, forcing others to follow suit and squeezing margins.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla joins GM, Ford in slowing EV factory ramp as demand fears spreadTesla joins GM, Ford in slowing EV factory ramp as demand fears spread
Read more »
Tesla's Elon Musk On Rising Ford F-150 Lightning Dealer Stockpile: 'Wow'A new report indicates that there is a relatively high number of new Ford F-150 Lightning pickups available for purchase right now from dealers in the US.
Read more »
Tesla's Elon Musk On Rising Ford F-150 Lightning Dealer Stockpile: 'Wow'A new report indicates that there is a relatively high number of new Ford F-150 Lightning pickups available for purchase right now from dealers in the US.
Read more »
Tesla Model X Recalled For Faulty Brake Fluid Readings But Tesla Says It’s Already FixedAn over-the-air update claims to have fixed the problem, owners of potentially affected EVs will be notified anyway
Read more »
New Tesla Model 3 vs. Old Tesla Model 3: All the Changes Side-By-SideTake a look at the new Tesla Model 3 alongside the old to see what's improved, inside and out, and including its tech.
Read more »
Cathie Wood explains why Tesla Chief Elon Musk is worth betting so much onTesla is set to report third-quarter earnings after the bell Wednesday.
Read more »