Tesla's Bold 2025 Vision: Affordable EVs and Autonomous Futures

Tesla is set to unveil new affordable electric vehicle models by mid-2025 and plans to test a paid autonomous car service in June. Despite missing Wall Street expectations, Tesla's shares rose as it announced cost reductions and progress on both new vehicles and self-driving technology, crucial for its future growth.

Tesla is preparing to launch new, cost-effective electric vehicle models in the first half of 2025 and plans to trial a paid autonomous car service starting in June. This announcement excited investors, overshadowing quarterly earnings that did not meet Wall Street's expectations.

Tesla shares increased by 4% after the company revealed ongoing cost-cutting measures and progress on new vehicle development. CEO Elon Musk stated that 'Teslas will be in the wild, with no one in them, in June, in Austin,' highlighting the company's cautious approach to ensuring safety.

The company aims to resume growth in its vehicle business this year, despite last year's decline due to competition and high borrowing costs. Tesla CFO noted that potential tariffs could impact company's business, while investors remain optimistic about self-driving technology prospects and growth in the energy storage sector.

(With inputs from agencies.)