Tesla Inc will cut assembly costs by half in future generations of cars, engineers told investors on Wednesday, but Chief Executive Elon Musk did not unveil a much-awaited small, affordable electric vehicle.
Shares fell more than 5% in after hours trade following presentations at the company’s investor day from its Texas headquarters. A question-and-answer program is continuing.
In the first nearly three hours of the webcast, Tesla executives led by Musk discussed everything from a white-paper plan for the globe to embrace sustainable energy to the company’s innovation in managing its operations from manufacturing to service.
