Overview

• Tesla has removed its 20 million annual vehicle target from its latest impact report.
• Production of the Model Y in China has been reduced due to weakening demand.
• Tesla's net income fell 55% in the first quarter of 2024 compared to the previous year.
• The company plans to unveil a fully autonomous robo-taxi on August 8.
• Tesla's shift includes shelving plans for a $25,000 electric vehicle.