CEO of Tesla Motors Elon Musk reacts following the company's initial public offering at the NASDAQ market in New York June 29, 2010reported first-quarter results after the bell on Monday. The company beat expectations handily, but the stock barely moved after hours as investors digested the numbers.Earnings:$10.39 billion vs. $10.29 billion expectedModel 3 and Model Y cars, beating expectations and setting a record for Tesla.
Tesla said last month that Jerome Guillen, its former president of automotive, would be moving into the role of president of heavy trucking. It's not clear who — if anyone — has replaced Guillen, but personnel updates could come during the earnings call after the bell. Tesla's vehicle batteries and automated driving systems, which are marketed as Autopilot and Full Self-Driving options in the U.S., are weathering regulatory scrutiny after a pair of fatal crashes in April — one in Spring, Texas and another in the Zengcheng district of Guangzhou, China.
Tesla is also facing more competition in the electric vehicle business. Major automakers, including VW, Audi and Ford, are finally selling pure battery electrics., 52% expect to own a battery electric vehicle in the next decade . The survey also found that while Tesla continues to be the brand most trust to make EVs, nearly 80% of those interested in owning an electric car are open to buying from any of several brands.
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