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The manufacture of Tesla Inc.'s more economical vehicles, including a stripped-down version of the Model Y, has been delayed, according to Reuters on Friday.
The electric manufacturer expected to release its lower-cost Model Y, internally known as E41, in the first part of the year. People familiar with the situation told Reuters that manufacturing will be delayed by at least three months. The news organization did not provide an explanation for the delay.
The setback comes before of the carmaker's highly anticipated earnings call on Tuesday, during which investors will analyze plans for its newest models.
Following the carmaker's poorest quarterly vehicle sales since 2022, the firm is focusing heavily on lower-cost mass-market electric vehicles. In the first quarter, its deliveries fell to a three-year low, and its market share plummeted from more than 75% in 2022 to less than 50% by 2024.
Tesla's earnings may also put pressure on CEO Elon Musk to address concerns that his political activity, notably his controversial destruction of federal agencies, would continue to harm his company.
Tesla did not immediately reply to a request for comment.
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