In its latest impact report, Tesla omitted its goal of delivering 20 million vehicles a year by 2030, another sign that the company is scaling back its automotive ambitions and focusing on robotics.
Musk said in 2020 that Tesla aimed to sell 20 million vehicles by the end of this decade – almost twice as many as Toyota, the world’s largest carmaker.
“Our goal is to produce and deliver 20 million vehicles per year by 2030. To achieve this goal, we must make our products even more accessible,” the company said, reiterating this goal in its 2022 impact report.
However, Musk and the company have changed tact, focusing on autonomous driving technology as the company’s main growth driver, and on August 8, the automaker will unveil its robotaxi, called “Cybercab”.
CEO Elon Musk said last month that Tesla would apply its current product lines to produce fresh low-cost vehicles, backing away from more ambitious plans to produce an all-new model that was expected to cost $25,000. The company’s shares fell about 2% on Thursday.
After years of breakneck growth, Tesla has hit a speed bump as demand for electric vehicles declines and competition intensifies. In an attempt to restructure, the electric vehicle maker has laid off more than 10% of its staff as it focuses on robotics, humanoid robots and autonomous technology.
Reuters it was first reported in April that Tesla had canceled a long-promised affordable car that investors had hoped would aid fuel its development into a mass-market automaker, instead focusing on robotics.
Tesla’s sales boost and numerous price cuts helped it deliver 1.81 million vehicles last year, up 38% from 2022 but well below the long-term growth goal of 50% that Musk set three years ago.
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