Shares in electric vehicle maker Tesla dropped more than 4% after the company reported first-quarter earnings after the bell. Here are the results. Earnings per share: 85 cents adj. vs 85 cents expected, according to the average analyst estimate compiled by Refinitiv Revenue: $23.33 billion vs $23.21 billion expected, according to Refinitiv estimates Net income…
It feels as if every day brings new price changes from Tesla TSLA –0.65% . Investors are getting used to them. The bigger deal now is the electric-vehicle company’s first-quarter gross profit margins are due to be reported in just a few days. Reuters reported that Tesla cut prices for its electric vehicles in Europe…
PepsiCo fully launched its Tesla Semi fleet recently, giving the world a sneak peek at its sustainable class-8 trucks. PepsiCo recently unveiled its Tesla Semi fleet for its Sacramento facility, taking a step closer to reaching its sustainability goals. PepsiCo stated that its Tesla Semi fleet was made possible through a grant by Sacramento’s air…
Elon Musk’s electric car maker Tesla says it is expanding in China as it builds a new factory to make its large-scale batteries. The plant in Shanghai will be able to produce 10,000 of its “Megapack” energy storage units a year, the firm says. A Megapack is a very large battery that can be used…
A California Tesla owner on Friday sued the electric carmaker in a prospective class action lawsuit accusing it of violating the privacy of customers. The lawsuit in the U.S. District Court for the Northern District of California came after Reuters reported on Thursday that groups of Tesla employees privately shared via an internal messaging system…
Tesla cut prices in the United States between 2% and nearly 6%, its website showed on Thursday, as the company extends a discount drive on its electric vehicles that analysts caution could hurt profitability. As reported on CNN, the fifth such cut in Tesla’s largest market since the start of the year comes as the…
A jury ordered Tesla to pay over $3 million Monday in a racial discrimination case brought by a former employee of its assembly plant in Fremont, California. As reported on CNN, the case was brought by Owen Diaz, who worked as an elevator operator at the plant. He reported he regularly heard racial slurs, including…
Tesla reported a modest 4% rise in sales in the first quarter compared to the final three months of last year, despite a series of price cuts on its lower priced vehicles and talk by CEO Elon Musk about strong demand at those lower prices. As reported on CNN, the first quarter also marked the…
Tesla founder Elon Musk regained his title as the world’s richest person on Monday. This was reported by Bloomberg. In December 2022 he was dethroned by Louis Vuitton CEO Bernard Arnault, but the rise in value of Tesla shares brought him back to the top of the rankings. As reported on MARCA, Musk’s net worth…
Elon Musk has reclaimed the title of the richest person in the world, per Bloomberg’s tally. As reported on CNN, the Tesla CEO was unseated from the top spot by Bernard Arnault, CEO of French luxury brand LVMH (LVMHF), in December of last year, making Musk No. 2 on the list for more than two…
Tesla chief executive Elon Musk says he donated around $1.95bn (£1.6bn) worth of shares in his electric carmaker to charity last year. As reported on BBC, the donation of 11.6 million shares was described in a filing with US regulators as “a bona fide gift”. The filing did not name the recipient, or recipients, of…
Tesla co-founder Elon Musk has been cleared of wrongdoing for a tweet in which he said he had “funding secured” to take the electric carmaker back into private ownership. Shareholders argued he misled them with his posts in August 2018, and they had lost billions of dollars because of them. The proposed $72bn (£60bn) buyout…
Mercedes-Benz will take a step towards offering a self driving car in the United States, or at least in some states, when it begins selling cars featuring its new Drive Pilot system later this year. As reported by CNN, Mercedes’ Drive Pilot system is designed to work on highways in dense traffic at speeds of…
Tesla is gearing up for a challenging 2023, after cutting prices to spur demand. The electric car company, led by billionaire Elon Musk, reported record revenue and profits in the three months to December, beating expectations. Musk acknowledged “questions” about how the firm will be affected by higher borrowing costs and a weaker economy. But…
Tesla has cut the price of some of its most popular electric cars by thousands of pounds in Europe and the US, in a bid to boost customer demand. The firm faces a difficult global economic outlook and increased competition from other carmakers. The price cuts are in the range of 10% to 13% in…
Elon Musk was the second person ever to amass a personal fortune of more than $200 billion, breaching that threshold in January 2021, months after Jeff Bezos. The Tesla Inc. chief executive officer has now achieved a first of his own: becoming the only person in history to erase $200 billion from their net worth….
Elon Musk doesn’t miss an opportunity to take a pop at the President of the United States, Joe Biden, doing so every time he alludes to the electrification of the American automotive industry. As reported by MARCA, this time, Tesla’s CEO has chosen his new ‘toy’, Twitter, to respond to a message from the American…
Tesla boss Elon Musk has sold another 19.5 million shares of the electric car maker worth $3.95bn (£3.4bn), filings with the US financial watchdog show. As reported by the BBC, the news comes less than two weeks after the world’s richest man completed his $44bn takeover of Twitter. Tesla’s share price has fallen by more…
Tesla has cut starting prices for its Model 3 and Model Y cars by as much as 9% in China, reversing a trend of increases across the industry amid signs of softening demand in the world’s largest auto market. The price cuts, posted in listings on the electric vehicle giant’s China website on Monday, are…
Elon Musk, the CEO of Tesla and the world’s richest man, has said that his electric vehicle company could become more valuable than the world’s two largest companies — Apple and Saudi Aramco. As reported by Business Insider Africa, the combined market capitalization of tech giant Apple and Saudi Arabian state energy giant Aramco is…
Barely a year after Tesla announced a major investment in Bitcoin, the company has now sold off most of its holdings of the cryptocurrency. At the end of 2021, Tesla offloaded 75% of its Bitcoin, which was worth about $2bn (£1.7bn) at the time. This saw the electric car company backing away as the value…
Following the discovery of a “software glitch” in 59,000 Tesla vehicles, German regulators have announced a recall on all the affected vehicles. The recall pertains to Tesla models Y and 3, though it is unclear how many of the 59,000 affected vehicles are registered in Germany, according to Reuters. According to the country’s road traffic…
