New Delhi, July 24 (UNI) Tesla Inc., a US-headquartered company with a specialization in automotive and clean energy, witnessed a noticeable decline in profits for the April-June quarter. This sharp decline of 12 per cent in the second quarter led to total revenue of Tesla at $22.5 billion. Interestingly, in the previous year, at the same time, Tesla’s revenue was $25.5 billion.
The major decline is attributed to a combination of factors, including the reduced government support and softening demand. Surprisingly, these results came after the grand launch of the “Model Y SUV” by Tesla.
Despite pointing out the “rough quarters,” Musk also gave an optimistic tone about the company’s future by emphasizing autonomous driving technology as the catalyst for change. He also pointed out that Tesla is investing heavily in the development of the robotaxi fleet, plus an autonomous vehicle named “Cybercab.”
