Tesla Stock Plummets Following Q4 Earnings Miss and Slower Growth Forecast
CEO Elon Musk warns of Chinese automakers' threat and seeks greater control over the company.
- Tesla's Q4 2023 earnings missed Wall Street expectations, causing its stock to plummet by over 12%.
- The company warned that its vehicle volume growth rate in 2024 may be notably lower than the growth rate achieved in 2023.
- CEO Elon Musk confirmed that Tesla's next-gen vehicle will be launched in the second half of 2025.
- Musk warned of the competitive threat posed by Chinese automakers, stating they could 'demolish most other companies in the world' without trade barriers.
- Musk reiterated his desire for greater control of Tesla, stating that he needs at least 25% voting control if the company is to be a leader in AI or robotics.
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