tesla
Tesla reported its first-quarter (Q1) earnings results that significantly missed analysts’ expectations. However, the company’s shares jumped more than 10% in after-hours trading in the US as CEO Elon Musk indicated that the mass production for affordable EVs would possibly be launched sooner than expected. He also expressed optimism towards the energy storage expansion and the development of AI training for self-driving. Tesla posts the deepest revenue drop in over a decadeIn the first quarter, Tesla's revenue came in at $21.3 billion, falling short of the estimated $22.3 billion, marking a 9...
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Tesla has endured a harsh selloff in the first quarter, with shares plummeting by nearly 30% as the EV maker grappled with growth bottlenecks amid fierce competition from Chinese rivals and diminished consumer demand. Price cuts implemented in the second half of 2023 have notably compressed its profit margin, coupled with a marked deceleration in revenue growth due to weakened consumer demand. Below is a glimpse into Tesla's forthcoming fiscal 2024 first-quarter earnings, exploring its prospective growth trajectory and potential share price movements in light of the outcome. Tesla's Q1 EV deli...
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Tesla is to cut the price of some of its cars in an effort to combat declining sales and growing competition. Prices will be reduced in Germany - Tesla's biggest European market - and elsewhere in Europe as well as the Middle East and Africa, the company has revealed. In Germany, the cost of the Model 3 rear wheel drive will fall from €42,990 to €40,990. The news comes after the world's largest EV maker cut around a third off the price of its "Full Self Driving" system - which is not a self-drive which means drivers must remain alert and be ready to intervene - to $8,000 (€7,505) from $12,000 ...
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Tesla is recalling 3,878 of its 2024 Cybertrucks after it discovered that the accelerator pedal can potentially become stuck in a 'pedal to the metal' position, causing the vehicle to accelerate unintentionally and increase the risk of a crash. The accelerator pedal pad may dislodge and become trapped by the interior trim, according to a filing with the National Highway Traffic Safety Administration (NHTSA). The recall involves model year 2024 Cybertrucks made between 13 November 2023 and 4 April 2024, according to the NHTSA. As of Monday, Tesla was not aware of any collisions, injuries or dea...
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Electric vehicle giant Tesla has announced it is to lay off 10% of its staff worldwide. Tesla currently employs some 140,400 staff which means around 14,000 jobs will go. The reason given is to cut out a number of positions and also to get rid of roles that are currently being duplicated. In a company-wide email, CEO Elon Musk said, as reported by Electrek: "Over the years, we have grown rapidly with multiple factories scaling around the globe. With this rapid growth, there has been duplication of roles and job functions in certain areas. "As we prepare the company for our next phase of growth...
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Elon Musk's Tesla is back in the news, with shares see-sawing to the upside once more, following the company's recent Robotaxi announcement. The rise came after the company saw shares falling after disappointing Q1 2024 delivery numbers, revealed in early April. Further speculation of the electric vehicle (EV) company scrapping plans for a cheaper $25,000 (€23,027.75) vehicle have been met with dismay from European and global Tesla fans alike. Although Musk attempted to deny the rumours, investors and clients were not convinced and shares lower. The continuing streak of losses has prompted the...
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Tesla has settled a lawsuit brought by the family of a Silicon Valley engineer who died in a crash while relying on the company’s semi-autonomous driving software. The amount Tesla paid to settle the case was not disclosed in court documents filed on Monday, just a day before the trial stemming from the 2018 crash on a San Francisco Bay Area highway was scheduled to begin. In a court filing requesting to keep the sum private, Tesla said it agreed to settle the case in order to “end years of litigation". The family of Walter Huang filed a negligence and wrongful death lawsuit in 2019 seeking to...
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Chinese electronics maker Xiaomi is joining the country's booming but crowded market for electric cars with a sporty high-tech sedan. The company began accepting orders for its new electric car the SU7 on Thursday. The car will start at 215,900 yuan (€27,700), a price tag that undercuts the Tesla Model 3 in China. Xiaomi said it received 50,000 orders for the SU7 in the first 27 minutes after sales opened in Beijing at 10 pm local time. Government subsidies have helped make China the world's largest market for electric vehicles, with many new makers locked in fierce competition. While most of ...
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Elon Musk sat down with former CNN reporter Don Lemon in an interview that was posted on Monday. The more than an hour-long interview was released on Musk's social network X (formerly Twitter). It was meant to mark the launch of Lemon's new show on the platform, but Musk cancelled the show shortly after the interview was recorded. It covered everything from immigration, content moderation, and ketamine. Here are some of the more notable moments. Elon Musk urges people in developed countries to have more childrenHow does Musk use social media platform X?Musk said he thinks of X as the “player v...
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An “anti-authoritarian” group has claimed responsibility for a suspected arson attack at Elon Musk’s Tesla car factory in Berlin on Tuesday. Posting a 2,500 word open letter on alternative media website Kontrapolis, the 'Volcano group' said they were to blame for the attack. The group said that Tesla’s Gigafactory “has become known for its extreme conditions of exploitation” and said that the attack was a gift marking International Women’s Day on March 8th. Elon Musk, who is the CEO of Tesla, took to X slamming the group as " either the dumbest eco-terrorists on Earth or they're puppets of tho...
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