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Tesla Facing Growth Issues, an Industrial Info Market Brief
Industry Segment: Market Brief | Word Count: 130 Words
Attachment: Tesla Projects
The amazing run of the electric automaker Tesla seems to have hit a rough patch. With the sales of electric cars not performing up to expectations, the company has had to reassess its growth strategy for the near term. Since the last quarter of 2017, Tesla has invested approximately $6.26 billion across the U.S. Below is a look at the distribution among the automotive and battery projects.
With the recent announcement that Tesla will suspend plans to expand Gigafactory 1, where it manufactures batteries for electric vehicles in partnership with Panasonic, followed by the subsequent reaction of the stock market, it is clear that the lofty goals to reach production of 1 million cars a year will have to be scaled back at least in the foreseeable future.
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