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Tesla’s profits sink as the company struggles with cooling demand

Tesla’s profits were once the envy of the auto industry.

Tesla reported its first quarter earnings during an incredibly shaky moment for the company in which sales numbers and the stock price have both fallen. Musk reportedly delayed the project, preferring to go “balls to the wall” on Tesla’s forthcoming robotaxi, which is expected to debut in August. Earlier this year, Tesla reported lackluster sales numbers in a sign that cooling demand for EVs and rising competition were taking their toll on the company.

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