Tesla (NASDAQ:TSLA) shares saw an early boost in trading today, opening 3.6% higher in Frankfurt, despite the company's latest quarterly results failing to meet Wall Street's expectations.
In its earnings report, Tesla announced that it remains on schedule to introduce new, more affordable vehicle models in the first half of 2025. Additionally, the company revealed plans to begin testing a subscription-based autonomous car service starting in June.
In an effort to improve profitability, Tesla also announced measures aimed at reducing operational costs.
These strategies come at a critical time as the electric vehicle giant navigates through competitive market pressures and seeks to maintain its lead in the EV industry.