This was one for the believers. After delivering a stinker of a March quarter earnings report – big misses on revenue, earnings and an 87 per cent rise in inventory as electric vehicles sales slowed around the world – Tesla founder Elon Musk used an investor call to talk up the company’s growth ambitions on Wednesday. This was Musk in full pitch-man mode: lots of blue sky, little detail.
Musk moved to assuage concerns that Tesla had abandoned its plan to build a cheaper, smaller car, known as Model 2, by promising that a more affordable vehicle could be rolling off the production line as soon as the end of this calendar year, and definitely ahead of the previously announced target of the second half of 2025.
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