The earnings report comes as Tesla is trying to lay the ground work for a new phase of growth. It said the Cybertruck would go into production in Austin after the Model Y but did not say when that would happen. On Monday, another start-up, Lucid Motors, became a publicly traded company by completing a merger with a special purpose acquisition company. The company is taking a similar approach to Tesla by first selling a pricey luxury sedan, and following up with more affordable models. Mr. Rawlinson has said Lucid has made technological advances that will allow its car, the Lucid Air, to travel about 500 miles on a full charge, about 100 miles more than the Tesla Model S.

Source: New York Times July 26, 2021 19:47 UTC