Tesla will start making new EV model in second half of 2025

News Snapshot:

Tesla expects to start production of its long-anticipated, next-generation electric vehicle at its Texas factory in the second half of 2025, Chief Executive Elon Musk said on Wednesday. But Tesla shares were down 6.5% in premarket trading as Musk noted that ramping up production of the new vehicle would be challenging and Tesla also warned of sharp slowdown in sales growth this year before the new model launch. Musk said it would take “a tremendous amount of new revolutionary manufacturing technology” required – a sign that any boost to Tesla’s declining pace of growth would take time. His projection followed...