Musk warned of difficult times for Tesla

American billionaire and founder of the car manufacturing company Tesla, Elon Musk, warned that the company expects several difficult economic quarters due to the deterioration of economic indicators. He stated this on July 23 during a conference call.

"Does this mean that we are going to have some tough quarters? Yes, we're probably going to have some tough quarters ahead," Bloomberg quoted him as saying.

According to the billionaire, his company will be able to achieve "confident" economic performance only by the end of 2026. Musk cited the long process of introducing self-driving cars as the reason, as well as the loss of incentives for the development of electric vehicles in the United States.

"Tesla shares fell right during his speech, down 5.3% at the postmarket on Wednesday in New York. The stock has already lost 18% by the close this year, even after recovering from the lows of March and April," the agency reports.

On June 14, it was reported that Tesla would appear in court in Miami on charges that in 2019, the autopilot system of the Tesla Model S failed to recognize an SUV at the curb, resulting in the death of a woman who was driving. It is specified that the jurors must also hear expert testimony from Professor Mary Cummings of George Mason University.

Earlier, on July 27, Musk announced that for the first time, the Tesla Model Y electric car had autonomously reached the buyer from the factory. He congratulated the Tesla teams developing software and chips for AI on their success.

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