Tesla CEO Elon Musk said in 2016 that the company’s Autopilot technology was safer than a human driver.
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Tesla reports first-quarter earnings on Tuesday.The EV maker has been under pressure after a reported pivot away from a low-cost vehicle model.The company’s stock is down more than 40% in 2024.
Tesla will report first-quarter earnings on Tuesday after the closing bell.
The electric-vehicle maker has been under pressure to start 2024 amid reports it will scrap plans to produce a low-cost Model 2, and instead focus on autonomous driving and robotaxis. Wall Street didn’t like that idea, pushing Tesla’s already-struggling stock lower.
The company has also been dealing with declining demand for its EVs, which has prompted a series of price cuts, the latest of which came on Monday.
Tesla’s stock was down 43% year-to-date through Monday’s close, badly trailing the the S&P 500‘s 5% gain.
