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Tesla profit plunges 55%, as shares bounce on plans for cheaper vehicles

In World
April 24, 2024

The Texas-based company reports profits of $1.1bn in the first quarter, down from $2.51bn a year ago. Tesla reported a 55 percent drop in profit amid fierce competition in the electric vehicle market, but shares rallied on plans to accelerate the production of more affordable models. The Austin, Texas-based company on Tuesday reported profits of […]