Tesla Profits Plunge by 55% as EV Sales Face Hybrid Competition
Tesla, the pioneering electric vehicle (EV) manufacturer, has reported a staggering 55% drop in profits for the first quarter of this year. The company, known for its innovative approach to sustainable transportation, cited several challenges affecting its bottom line, including heightened competition from hybrid vehicles and unforeseen disruptions such as the Red Sea conflict and an arson attack at Gigafactory…