Tesla unveils Mexico factory, but no new vehicle
STORY: Shares fell more than 5% in after-hours trade following presentations at the company's investor day from its Texas headquarters. A question-and-answer program is continuing.
In the first nearly three hours of the webcast, 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 engineers, a nod to Tesla's attempt to show the depth of its executive bench beyond Musk, the face of the company. Tom Zhu, the new global production chief, took the stage and said Tesla's global capacity was 2 million vehicles a year.
Musk had been expected to lay out a plan to make a small, affordable electric vehicle (EV) that would broaden his brand's appeal and fend off competition, but by late in the presentation executives had not detailed new vehicle model plans or new financial targets for the year.