Tesla's Frankfurt-listed shares bounce after promise of new models

Reuters04-24

MILAN, April 24 (Reuters) - Tesla's Frankfurt-listed shares rose 12% in early trading on Wednesday, tracking U.S. after-market gains after the electric vehicle maker promised new more-affordable models.

Tesla said on Tuesday it would introduce new models by early 2025 using its current platforms and production lines as it retreated from more ambitious plans to produce an all-new model that had been expected to cost $25,000.

The rise in Tesla shares provided a much-needed boost, after months of decline during which Tesla has struggled with fierce competition and falling sales. Its Frankfurt-listed stock

is down 34% so far in 2024.

(Reporting by Danilo Masoni, editing by Alun John)

((Danilo.Masoni@TR.com; Reuters Messaging: danilo.masoni.thomsonreuters.com@reuters.net))

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