Tesla dials back expectations as Elon Musk sees storm ahead

Years of rapid expansion at Tesla are colliding with rising interest rates and more cost-conscious consumers

Elon Musk is feeling “paranoid” due to an unpredictable economic environment and, as a result, Tesla is slow-walking its newest factory in Mexico. 

Elon Musk is dialling back expectations for Tesla as years  of rapid expansion collide with rising interest rates and more cost-conscious consumers.

After months of persistent price cuts, Tesla’s margins have fallen well below the floor once set by its recently departed chief financial officer. The company is “ruthlessly” cutting costs to keep up, according to vehicle engineering chief Lars Moravy.