Elon Musk’s attempt to scrap his purchase of Twitter Inc. may leave the world’s wealthiest person in a stronger financial position than before he unveiled the $44 billion deal, with billions of dollars in cash from selling Tesla shares now sitting in the bank. After Musk on Friday tore up his April 25 agreement to…
Tesla’s Deliveries Fall, Hurt by China’s COVID-Related Shutdown
Tesla Inc. delivered 17.9 percent fewer electric vehicles in the second quarter from the previous quarter, as China’s COVID 19-related shutdown disrupted its production and supply chain. The world’s biggest electric car maker said on Saturday that it delivered 254,695 vehicles in the April to June period, compared with 310,048 vehicles in the preceding quarter,…
Tesla Cuts Job Openings Since Elon Musk’s Economic Warning
SAN FRANCISCO—Tesla has cut job postings by 14 percent since Chief Executive Elon Musk warned he was worried about the economy, needed to reduce staff and would pause hiring worldwide. Tesla’s actions are a concerning sign of the health of the global economy as markets contract, inflation soars and recession worries run rampant. The number…
Tesla to Charge More for Cars in the US as Inflation Bites
Tesla Inc. again raised prices for all its car models in the United States in response to persistent global supply-chain problems and soaring raw material costs. The electric carmaker increased its Model Y long-range price to $65,990 from $62,990, its website showed on Thursday, after delaying U.S. deliveries of some long-range models by up to…
Ford, GM, Stellantis, Toyota Urge Congress to Lift EV Tax Credits Cap
By Riley Beggin From The Detroit News WASHINGTON—Ford Motor Co., General Motors Co., Stellantis NV, and Toyota Motor Corp. sent a letter to congressional leaders Monday urging them to lift the 200,000 customer cap for existing electric vehicle tax credits. The letter from the nation’s four largest automakers comes as Democrats in Congress are negotiating…
Tesla’s Singapore Country Manager Fired After Musk Warns Of Global Job Cuts
Tesla’s Singapore country manager announced that he was dismissed on June 11 after CEO Elon Musk warned about global workforce cuts earlier this month amid worries of a coming recession. The former Tesla Singapore manager, Christopher Bousigues said on his LinkedIn page: “Tesla announced a 10% of workforce reduction. My role was chosen to be…
Elon Musk Says Tesla FSD 10.13 Beta Will Handle Roads With ‘Zero Map Data’
Tesla Inc. CEO Elon Musk said on Sunday that the electric vehicle maker’s Full Self-driving (FSD) Beta version 10.13 would enable its cars to navigate routes where there are no maps available. What Happened The billionaire entrepreneur said FSD Beta 10.12.2 is expanding to 100,000 cars and that the 10.13 version will begin to handle roads with “no map…
Tesla’s EV Lead Outstrips Industry Rivals, but Not for Long, Says Volkswagen CEO
Tesla, the world’s leading electric vehicle manufacturer, is moving at twice the speed than its competitors, said Herbert Diess, CEO of Volkswagen AG, the world’s second-largest EV manufacturer, at a June 1 conference at the CAR Symposium conference in Bochum, Germany. Tesla has managed to secure its position despite factory shutdowns, a lack of computer chips, and…
Federal Judge Dismisses Fraud and Defamation Lawsuit Against Elon Musk Amid a Week of Controversy
May 20, 2022
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A federal judge in California dismissed a securities fraud and defamation lawsuit filed by a Tesla investor against Tesla Inc., the company’s CEO Elon Musk, and a Musk supporter on May 19. Judge James Donato threw out the lawsuit by the investor, Aaron Greenspan, a legal document website owner, after noting that the lawsuit had no…
Tesla Races Ahead of Rising Raw Material Costs on Price Hikes
SAN FRANCISCO—Tesla Inc surged past Wall Street estimates for quarterly revenue and profit on Wednesday, as the electric carmaker raised prices in response to inflation, offsetting the impact of a Shanghai factory shutdown. Tesla has been an outlier since the pandemic outbreak, posting record deliveries and earnings for several quarters when rivals wrestling with global…
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