Tesla's Drive into the Future: New Models and Autonomous Services Set for 2025

Tesla has announced plans to introduce more affordable electric vehicle models and test an autonomous ride-hailing service by mid-2025. This has boosted investor confidence despite previous lower delivery figures and Wall Street's unmet financial expectations.

Tesla announced it is on track to debut affordable electric vehicle models in the first half of 2025, alongside testing an autonomous ride-hailing service by June, boosting investor enthusiasm.

The company's shares rose 4.7% despite not meeting Wall Street's financial expectations, with market confidence rejuvenated by cost-cutting measures and its commitment to new product timelines.

CEO Elon Musk has revealed plans to test a fully autonomous car service in Austin, Texas, with the current electric vehicle platform set to produce the new models, as prospects for self-driving technology and increased energy storage unit deployments continue to entice investors.

(With inputs from agencies.)