After the EV king, Tesla Inc (NASDAQ:TSLA) reported its biggest revenue drop since 2012, along with a sinking profit, Stellantis N.V. (NYSE:STLA) and Volkswagen AG (OTC:VWAGY) followed by reporting disappointing first quarter financials that reflected lower sales and higher costs. Plummeting sales and profit made the once-all-mighty Tesla promise more affordable EVs are coming early next year, if not later this year. Despite a slow start of the year, both Stellantis and Volkswagen have maintained their full year targets.
Despite disappointing Q1 results, Stellantis is betting on its new products portfolio.
For the January-March quarter...
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