Tesla’s Robotaxi Gamble in Austin Puts Future of Autonomous Vehicles to the Test
Tesla is approaching what has been described by observers as a critical moment in its history, as the company prepares to launch its long-promised fleet of self-driving “robotaxis” in Austin, Texas. According to sources familiar with the matter, the initiative is being regarded as an existential test for the electric vehicle manufacturer, whose future has […]
Tesla Faces Investor Concerns as Demand Worries Intensify
Tesla shares (TSLA.O) experienced a decline of approximately 2% on Wednesday following a downgrade from Wells Fargo, which raised concerns about the diminishing impact of the automaker’s price cuts on the demand for its electric vehicles. The downgrade to “underweight” comes amid a broader global slowdown in electric vehicle (EV) demand, stemming from a price […]
Tesla CFO Zachary Kirkhorn Steps Down, Succeeded by Vaibhav Taneja in Strategic Leadership Transition
In a significant leadership transition, Tesla, the pioneering electric vehicle and clean energy company, has announced the departure of Chief Financial Officer (CFO) Zachary Kirkhorn. The news, reported on August 7, 2023, comes as part of a strategic reshuffling of top-level executives, with Vaibhav Taneja poised to take the reins as the new CFO. This […]
Turnover on Texas lithium refinery is Elon Musk, brand
Tesla Inc. (TSLA.O) broke ground astronomically on a Texas lithium refinery, Monday. According to CEO Elon Musk, the facility would generate enough battery metal by 2025 to construct around 1 million electric cars (EVs). In order for Tesla to fulfil its lofty EV sales targets, Musk claimed the automaker must move outside its core business of manufacturing […]
Musk claims that Tesla’s pricing decreases increased competition
Elon Musk, the CEO of Tesla Inc. (TSLA.O), dismissed worries that a poor economy would stifle buyers’ enthusiasm on Wednesday by claiming that the company’s aggressive price reductions have sparked a desire for its electric automobiles.Despite a dramatic decrease in car profit margins, the business slightly above Wall Street projections for fourth-quarter profits and revenue […]
Musk claims he was engaged in revitalizing Tesla while upholding his $56 bln package
Elon Musk, who was testifying in a Delaware court on Wednesday to refute claims that his $56 billion pay package was based on simple performance goals and approved by a compliant board of directors, claimed that he was entirely focused on Tesla (TSLA.O) in the year 2017 as the battery-powered vehicle manufacturer was in “crisis.”Musk, […]
As analysts foresee a “price war,” Tesla reduces prices in China by up to 9%
In China, the world’s largest auto market, Tesla (TSLA.O) has reduced the starting rates for its Model 3 and its Model Y automobiles by as much as 9%, bucking a trend of hikes in the sector.The price reductions, which were announced in postings on the electric vehicle (EV) behemoth’s China webpage on Monday, are the […]
Tesla loses $ 126 BLN in value amid Musk Twitter deal funding concern
Tesla Inc lost $126 billion in value 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 declined to disclose […]
Elon Musk is sued by share holders
Elon Musk was sued by former Twitter Inc shareholders who claim they missed out on the recent run-up in its stock price because he waited too long to disclose a 9.2% stake in the social media company. In a proposed class action filed in Manhattan federal court, the shareholders said Musk, the chief executive of electric […]
SpaceX see significant inflation risks
Tesla Inc Chief Executive Officer Elon Musk said that the U.S. electric carmaker and his rocket company SpaceX are facing significant inflationary pressure in raw materials and logistics. He asked via tweet about inflation rate outlook and said his companies are not alone. Russia’s invasion of Ukraine has been ramping up the prices of metals used […]