TESLA WILL CUT assembly costs by half in future generations of cars, engineers told investors on Wednesday, but chief executive Elon Musk did not unveil when it will debut a much-awaited affordable electric vehicle.
Shares fell more than 5% in after-hours trade following the company's investor day from its Texas headquarters.
More than a dozen Tesla executives led by Musk discussed everything from a white-paper plan for the globe to embrace sustainable energy to the company's innovation in managing its operations from manufacturing to service.
The presentation featured an array of senior engineers, including the new global production chief, Tom Zhu, a nod to Tesla's attempt to show the depth of its executive bench beyond Musk, the face of the company.
But there were no details about when next-generation cars would be launched and what models would be offered.
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