Tesla Engineering Chief Says Company Is In A 'Big Swing Moment,' Signals Smaller Pickup Truck Could Be On The Way

Lars Moravy, Senior Vice President at Tesla Inc.'s (NASDAQ:TSLA) Vehicle Engineering department, said that the company was in a "big swing moment," amid Elon Musk's Robotaxi, Optimus ambitions.

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What Happened: "We take big swings, and sometimes that risk can come with a lot of downside. We're in a big swing moment right now with autonomy, Robotaxis, with Optimus and with Semi," Moravy said at the X takeover event on Saturday.

Moravy also outlined that the company could be making a smaller pickup truck in the future. "We've always talked about making a smaller pickup," Moravy said. He highlighted that the company was exploring designs in the studio for such a vehicle currently, but gave no other details.

Why It Matters: The news comes as Tesla held what was a disappointing Q2 earnings call last week, which saw a 12% YoY decline in the company's revenue and ambitious targets of serving half of the U.S. population with robotaxis by the end of 2025.

Following the earnings call, Musk also highlighted that a $20 trillion valuation for Tesla could be possible in the future, but conceded that it would need proper execution to achieve the target.

However, experts like Future Fund LLC's managing director, Gary Black, have criticized the company's Q2 earnings, slamming the company's decision to release a scaled-down version of the Model Y as an affordable Tesla.

Tesla offers Satisfactory Momentum and Quality, while scoring well on the Growth metric, but offering poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!

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