Tesla touts plans to halve vehicle production costs

On point: A worker moves a Tesla car at its Giga Texas automotive manufacturing facility in Austin. The company has outperformed the industry in recent years, increasing deliveries rapidly despite the pandemic and supply-chain disruptions. — AP

SAN FRANCISCO: Tesla Inc will cut vehicle assembly costs by half in future generations of cars, engineers told investors, outlining design and factory efficiency gains as fans waited for chief executive Elon Musk to unveil a new model.

In the first two hours of the presentation, 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.