Tesla has issued a recall of about 48,000 Model 3 Performance cars in response to pressure from the National Highway and Traffic Safety Agency (NHTSA) over the vehicle’s speedometer, which can fail to display while the car is in Track Mode. The news arrives via the NHTSA’s most recent Safety Recall Report, which attests to…
Chart Wars: What to Watch on Tesla, Twitter Stocks as Elon Musk Digs In
Tesla, Inc and Twitter, Inc stocks have responded wildly differently since April 4, when a SEC filing revealed Elon Musk had purchased a 9.1 percent stake in the social media company, which within just three weeks resulted in a pending acquisition. Since the news of Musk’s stake in Twitter hit, Tesla has plunged about 19 percent whereas…
Elon Musk Sells $4 Billion Tesla Shares After Agreeing to Purchase Twitter, Says ‘No More Sales Planned’
Elon Musk sold nearly $4 billion worth of Tesla shares this week, just days after the billionaire agreed to purchase Twitter for $44 billion, according to filings with the Securities and Exchange Commission. According to the filings, the CEO offloaded about 4.4 million shares of the electric vehicle company for about $3.9 billion, with the majority of the…
Elon Musk Says Twitter Should Have This Signal-Like Feature to Ensure Privacy
Tesla Inc CEO Elon Musk on Wednesday said Twitter Inc should have end-to-end encryption for its direct messages to ensure security. What Happened: The billionaire entrepreneur said Signal, a private messaging app that he backs, provides end-to-end encryption so that no one can spy on or hack the messages. Unlike Signal and Meta Platforms Inc-owned messaging…
Elon Musk Wins $13 Billion Tesla Shareholder Lawsuit Over SolarCity Acquisition
A Delaware judge on Wednesday sided with Tesla CEO Elon Musk in a lawsuit brought by the electric vehicle maker’s shareholders that accused him of coercing the company’s board into buying SolarCity. Tesla acquired California-headquartered SolarCity for $2.6 billion in 2016 in a stock-for-stock merger. The company was founded in 2006 by Musk’s cousins, Peter and Lyndon Rive, and…
India Says Tesla Should Not Import Cars From China for Domestic Sale
NEW DELHI—U.S. electric vehicle maker Tesla Inc. is welcome to set up shop in India, make cars there for sale and export them, but must not import cars from China, the transport minister said on Tuesday. “Making in China and selling here is not a good proposition,” the minister, Nitin Gadkari, said during a government…
Tesla Loses $126 Billion in Value Amid Musk Twitter Deal Funding Concern
Tesla Inc. lost $126 billion in value on Tuesday amid investor concerns that Chief Executive Elon Musk may have to sell shares to fund his $21 billion equity contribution to his $44 billion buyout of Twitter Inc. Tesla is not involved in the Twitter deal, yet its shares have been targeted by speculators after Musk…
Thousands of Employees at Shanghai’s Tesla, Apple Supply Factories Infected With COVID-19
April 23, 2022
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Shanghai continues to implement the Chinese Communist Party’s harsh “dynamic clearing” COVID-19 pandemic control policy, while the outbreak continues spreading in China. Employees of the well-known company Quanta (Shanghai) Computer Co., Ltd., which produces Tesla accessories and Apple laptops, revealed to The Epoch Times recently that thousands of workers were infected, and their calls to…
‘Embarrassing:’ Elon Musk Reacts to Tesla Being Pitted Against Rivian on Operating Expenses
Tesla Inc. CEO Elon Musk on Wednesday said the electric vehicle company’s operating expense is “embarrassingly high.” What Happened The billionaire entrepreneur was reacting to a Twitter post that compared Tesla’s first-quarter operating expenses with that of Rivian Automotive Inc.’s from its fourth quarter. Q1 2022 Operating Expenses @elonmusk Tesla — $1.9 billion Rivian — $2.1 billion — Whole Mars…
Why This Data Point From Tesla’s Q1 Earnings Spells Trouble for Legacy Automakers
Tesla Inc. posted strong quarterly results on Wednesday, with positive commentary from the management on the earnings call. But one particular data from its report signaled legacy automakers could be struggling with their transition away from internal combustion engine (ICE) vehicles. What Happened Tesla reported regulatory credits of $679 million for the first quarter, more than double from…
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