Electric carmaker Tesla Inc backed off its plan to close all of its U.S. stores ...
- Electric carmaker Tesla Inc backed off its plan to close all of its U.S. stores in a blog postand instead will raise prices of its high-end vehicles by about 3 percent on average, as it strives for profitability.
“Over the past two weeks we have been closely evaluating every single Tesla retail location, and we have decided to keep significantly more stores open than previously announced,” the electric carmaker said.Separately, Chief Executive Officer Musk has until the end of the day on Monday to explain why he should not be held in contempt for recent tweets that U.S. securities regulators say violated a September fraud settlement.
Tesla said the worldwide price increases would apply to the more expensive versions of the Model 3, Model S and Model X, and that there will be no price increase to the $35,000 Model 3. Shares of the company, among Wall Street’s most volatile in recent months, were roughly flat in early trading on Monday.
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