Why Tesla shares fell as Musk issues warning

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.AllNewsSportCultureLifestyleTesla shares fell after CEO Elon Musk warned of The electric vehicle maker reported a 12 per cent drop in revenue and a 16 per cent fall in profit, facing increased competition and the impact of Musk's political affiliations. Tesla's financial challenges include the loss of a $7,500 EV tax credit, reduced income from regulatory credits, and hundreds of millions in costs due to tariffs imposed by Donald Trump. Musk indicated a strategic shift towards self-driving taxis, automated driving software, and robotics, rather than focusing primarily on car sales. The company began rolling out its paid robo-taxi service in Austin, Texas, in June, with plans to expand to other cities soonIn fullElon Musk admits ‘rough’ times ahead for Tesla as company focuses less on selling cars, more on robo-taxisThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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