Transportation
Tesla Slumps as Musk Tethers Its Future to Delayed Robotaxis
- CEO confirms he pushed back product unveiling to October
- EV maker puts off Mexico factory until after November election
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Tesla Inc. reported another quarter of disappointing profit and postponed a highly anticipated unveiling of autonomous taxis, sending the carmaker’s volatile stock plunging the most in almost four years.
Adjusted earnings fell to 52 cents per share in the three months ended in June, missing estimates for the fourth consecutive quarter. Chief Executive Officer Elon Musk confirmed the company will push back an event showcasing robotaxi prototypes by about two months, to October, confirming an earlier Bloomberg News report.