After Tesla (TSLA) reported earnings for the first quarter that came in short of analysts’ expectations, Chief Executive Officer Elon Musk joined other company leaders on the electric vehicle (EV) maker’s earning call.
Musk touched on Tesla’s accelerated new-product timeline, news of which was unveiled in the earnings announcement and sent the company’s shares sharply higher in after-hours trading. He also addressed talks the company is having with a traditional automaker to license Tesla’s autonomous driving technology, as well as the upcoming robotaxi launch and its humanoid robot.
Tesla shares continued gaining ground during the earnings call and finished the extended session up 13.3% at $163.96. Through Tuesday’s close, the stock had lost 42% of its value since the start of the year.
Musk said that Tesla has accelerated its future product roadmap and is set to start production in early 2025, or late 2024. The company had previously indicated this production wouldn’t …