01:40 PM EDT, 05/01/2024 (MT Newswires) -- (Updates with additional details in the second and third paragraphs and a request for comment in the fifth paragraph.)

Tesla (TSLA) has retreated from a plan for innovations in its "gigacasting" manufacturing process, Reuters reported Wednesday, citing two unnamed sources.

It was last autumn when the company decided to stop work on the one-piece casting process, the report said.

The company is sticking with its more proven three-piece process of casting car underbodies, according to the report.

Tesla didn't reply to a request for comment, Reuters said.

The company didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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