Tesla 's (NASDAQ: TSLA) electric vehicle business leads the industry and is coming off a fantastic year of growth in deliveries to customers with more production capacity than ever before.
Nonetheless, Tesla stock has collapsed 67% from its all-time high amid the broader sell-off in the technology sector, not to mention concerns about increased competition in the electric vehicle space and weakening demand as consumers grapple with difficult economic conditions.
But Tesla is a long-term story, and true to that philosophy, the company isn't holding back on its expansion plans just because its stock is down. A recent report from Bloomberg suggests the company could soon strike a deal to build one million cars per year in Indonesia.
For further details see:
Here's Where Tesla's Next Gigafactory Might Be, and Why the Stock Is a Buy Now