SAN FRANCISCO - Tesla said on Tuesday that it will use its existing factories to build new and more affordable vehicles as early as late this year, leaving investments in new factories in Mexico and India unlikely in the near term.
Investors cheered the decision not to take the risks of building new models in new factories, with Tesla shares jumping 12% in after-hour trading despite the company's quarterly results missing financial targets.
Musk had been expected to meet with India Prime Minister Narendra Modi on Monday and announce major investments in an auto factory to produce a small, affordable model. Musk canceled at the last minute, citing "very heavy Tesla obligations." An investigation into a train that was seen moving through the City of London while on fire is underway. CP Rail police are investigating after several people called 911 to report that the eastbound train crossing over Oxford Street was burning. The train was able to come to a stop and first responders took about an hour to get the fire under control.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
India Says Up to Tesla to Lay Down EV Plant Investment PlansIndia’s industry secretary said the ball is now in Tesla Inc.’s court to lay down its investment plans for the South Asian nation after the government cut import duty on electric vehicles.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: SaltWire Network - 🏆 45. / 63 Read more »
Source: SaltWire Network - 🏆 45. / 63 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: SaltWire Network - 🏆 45. / 63 Read more »
Source: SaltWire Network - 🏆 45. / 63 Read more »