After the EV king, Tesla Inc (NASDAQ: TSLA) reported its biggest revenue drop since 2012, along with a sinking profit, Stellantis N.V. (NYSE: STLA) and Volkswagen AG (OTC: VWAGY) followed by reporting disappointing first quarter financials that reflected lower sales and higher costs. Plummeting sales and profit made the once-all-mighty Tesla promise more affordable EVs are coming early next year, if not later this year. Despite a slow start of the year, both Stellantis and Volkswagen have mainta
Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a US media report.Tesla last week reported a 55 percent drop in quarterly earnings to $1.1 billion, reflecting a decline in EV sales in a market with intensifying competition.
Stellantis stock slid on Tuesday as the company reported first quarter sales and shipments that fell compared to a year ago, just as a slew of new vehicles is poised to hit showroom floors later this year.
