Tesla drops reference to its goal of delivering 20 million vehicles annually in impact report

(Reuters) -Tesla’s latest impact report published on Thursday does not include its previously laid down target to deliver 20 million vehicles a year by 2030, another sign the company was scaling back its auto ambitions as it shifts focus to robotaxis.

CEO Elon Musk last month said that Tesla would use current product lines for new affordable vehicles, as it retreated from more ambitious plans to produce an all-new model that had been expected to cost $25,000.

Musk had said in 2020 that Tesla aspired to sell 20 million vehicles by the end of the decade – nearly twice as many as those sold by Toyota, the world’s largest automaker.

“Our goal is to build and deliver 20 million vehicles a year by 2030. To achieve this goal, we need to make our products even more accessible,” the company had said in impact report for 2022.

Reuters first reported in April that Tesla had canceled the long-promised inexpensive car that investors were counting on to drive its growth into a mass-market automaker, instead focusing on robotaxis.

(Reporting by Akash Sriram in Bengaluru and Hyunjoo Jin in San Francisco; Editing by Anil D’Silva)