Tesla Inc (NASDAQ:TSLA) shares fell almost 2% as the electric vehicle (EV) maker’s latest impact report published Thursday failed to reference its goal of delivering 20 million vehicles annually by 2030.
This goal was first laid out by Tesla CEO Elon Musk in 2020 and represents more than twice as many vehicles currently sold per year by the largest global automaker Toyota.
The goal has been reiterated by Tesla since, including in the company’s 2022 impact report.
Its omission in Thursday’s report is the latest sign the company is pulling back on its auto ambitions after earlier this month it also retreated from its plan to produce an all-new model expected to be priced at a more affordable $25,000.
Tesla instead appears to have pivoted to focus to its autonomous driving technology for growth, with the company set to unveil its robotaxi called “Cybercab” on August 8.
Shares of Tesla traded down 1.9% at about $177 late morning on Thursday.