| Tesla on Wednesday posted record net income in the fourth quarter of last year, signalling strength as it faces growing questions about car-buyer demand for its all-electric vehicle lineup.
The EV market leader said it would increase output “as quickly as possible” — in line with previous guidance for average annual growth of 50 per cent over multiple years, and said it is on track to deliver about 1.8 million vehicles this year. “In the near term, we are accelerating our cost reduction road-map and driving towards higher production rates, while staying focused on executing against the next phase of our road-map,” it said in a statement to shareholders., which led to complaints by Tesla investors that he was neglecting his duties at the carmaker at a critical time.
Tesla shares fell 65 per cent during 2022 as investors doubted whether the company was reacting energetically enough to a long list of challenges and risks.Among other things, investors worried that Mr Musk would sell more of his stake in Tesla to finance his Twitter acquisition, flooding the market.
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US stocks stumble on Microsoft’s ‘conservative’ outlookShares fell in New York, though pared losses by midday, as investors positioned for lower corporate profits. $A rises. Tesla reports after the closing bell.
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