Already a subscriber?Tesla had two very different first-quarter results announcements depending on whether you’re more into the numbers or the words. The numbers were bad. The words were dreamy.sent predictable shockwaves through Tesla’s financials, published on Tuesday .
Hence, a massive working capital swing, boosted by inventories, all but wiped out operating cash flow. The company reported its first quarter of negative free cash flow since early 2020.In addition, doubts have been raised this month about Tesla’s commitment to a new low-cost EV dubbed the Model 2, indications that Tesla will instead focus on, the sudden loss of senior executives and the announcement of the company’s biggest round of layoffs.
Yet with price cuts having failed thus far to spur a jump in sales of Tesla’s ageing lineup – quite the opposite, in fact – why is that expected to improve so much this year?So Tesla needed to stiffen spines out there. The announcement duly talked about Tesla having updated its plans to “accelerate” the launch of new vehicles, “including more affordable models”, ahead of the prior target start date of the second half of 2025.
Ah yes, that’s what the call is for. On the call, we learned from chief executive Elon Musk that new models might arrive as early as late this year. And yet … yet … questions about the details were brushed off then pushed off to the robotaxi unveiling that Tesla plans for early August.
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