Tesla is accelerating the launch of less-expensive cars in a bid to revive sagging demand following another disappointing quarter.
The electric-vehicle maker aims to start production of new models as soon as this year, well ahead of the late-2025 timing it had previously pledged. The decision sent shares soaring 13% late Tuesday, stemming what has been the worst rout among stocks in the S&P 500 Index this year.
The news overshadowed a big shortfall in Tesla’s first-quarter earnings, sales and margins. CEO Elon Musk is betting that lower-priced models will gin up demand for EVs, which has slowed globally and forced other automakers to…
