Musk admits Tesla faces challenges and accelerates the launch of new models

Musk admitted in the earnings call that Tesla faced some unexpected challenges in the first quarter of this year. He said that the global penetration of electric vehicles is under pressure, and many other traditional automakers are reducing the production of pure electric vehicles and turning to plug-in hybrids. He believes that this is not the right strategy and that electric vehicles will eventually dominate the market. He also revealed that the team has had multiple rounds of discussions on the new car product roadmap and plans to accelerate the launch of new models.