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In a bid to boost sales, Tesla cuts EV prices in US for the second time

Elon Musk-owned Tesla has slashed the prices of its EVs across its lineup in the US for the second time, which might be in an effort to boost sales before the end of the quarter

Innovative techniques and smaller factories to help cut costs: Tesla

Tesla says it will cut the cost of its next generation of vehicles in half, largely by using innovative manufacturing techniques and smaller factories. CEO Elon Musk and other executives outlined the goals during a 3 1/2-hour investor day presentation at Tesla's Austin, Texas, headquarters Wednesday as they presented the company's third master plan. The changes could bring the cost of a new generation of vehicles to around $25,000. Many investors were hoping to catch a glimpse of the next generation vehicles, but Musk said they wouldn't be shown until a proper product unveiling. We'd be jumping the gun if we answer your question, about the new vehicles, he told an analyst. Shares of Tesla fell nearly 6% in after-hours trading during the presentation that ended just after 8 p.m. Eastern time. Musk announced that Tesla plans to build a new factory in Mexico near Monterrey. Company executives said it will not take production from any other factories, where Tesla expects to expand ...

Microsoft owned OpenAI announces ChatGPT, Whisper APIs for developers

Microsoft-owned OpenAI has announced that it is now allowing third-party developers to integrate ChatGPT and Whisper into their apps and services with an application programming interface (API)

Elon Musk's Tesla denies terminating employees for forming a union

Approximately 4 per cent of the employees on the Autopilot labeling team in Buffalo were exited as a result of this performance review cycle: Company

Tesla to open its 7,500 charging stations in US to other EVs by 2024

The Biden administration has revealed new initiatives to install 5,00,000 electric vehicle chargers on US roads by 2030 under its $7.5 billion plan

Tesla hikes price of Model Y over 2% after US alters tax credit rule

Tesla has raised prices on its Model Y in the US, apparently due to rising demand and changes in US government rules that make more versions of the small SUV eligible for tax credits. The Austin, Texas, electric vehicle company bumped up the price of the Model Y Long Range version by about 2 per cent to USD 54,990 and the Performance version by about 2.7 per cent to USD 57,990, according to its website. The prices exclude shipping and an order fee. The moves, made Friday, come three weeks after Tesla cut prices nearly 20 per cent on some versions of the Model Y, the company's top-selling vehicle. The price cuts were made to boost sagging demand, and also to make more versions of the Model Y eligible for the USD 7,500 electric-vehicle tax credit in the Inflation Reduction Act. The full tax credits will be available at least into March. On Friday, The Treasury Department revised vehicle classification definitions to make more EVs including SUVs made by Tesla, Ford and General Motors

Tesla logs record profit in fourth quarter, warns of uncertainties

Tesla, maker of electric vehicles and solar panels said it made $3.69 billion from October through December, or an adjusted $1.19 per share

Elon Musk depicted as either liar or visionary in Tesla tweet trial

Nicholas Porritt, a lawyer representing Glen Littleton and other Tesla shareholders in the class-action case, promptly vilified Musk as he addressed jurors

Jury selection begins in Tesla investor lawsuit against Elon Musk

Investors sued Musk, saying that Tesla shares would not have swung so widely in value if he had not dangled the prospect of buying the company for $420 per share

Tesla cuts vehicle prices in bid to boost flagging demand

With its sales slowing and its stock price tumbling, Tesla Inc. slashed prices dramatically Friday on several versions of its electric vehicles, making some of its models eligible for a new federal tax credit that could help spur buyer interest. The company dropped prices nearly 20% in the United States on some versions of the Model Y SUV, its top seller. That cut will make more versions of the Model Y eligible for a $7,500 U.S. electric vehicle tax credit that will be available through March. It also reduced the base price of the Model 3, its least expensive model, by about 6%. Far from pleasing investors, the sharp price cuts sent Tesla shares sinking about 4% in early trading Friday. Since the start of the year, the stock has plummeted more than 65%. Many investors fear that the sales slowdown will persist and have grown concerned about the erratic behavior of CEO Elon Musk and the distractions caused by his $44 billion purchase of Twitter. Itay Michaeli, an industry analyst at .

Misfortune: Musk creates Guinness World Record for losing personal wealth

The change in Musk's fortune saw him losing the title of the world's richest person to Bernard Arnault (France)

Tesla touches a 2-year low: Twitter may not be Elon Musk's biggest trouble

Tesla share price: The prices fell rapidly on Tuesday after a Reuters report said that the company is planning to reduce its production at the Shanghai plant in January

Elon Musk seeks new investors for Twitter at the same price he paid

Musk, who also runs Tesla Inc. and SpaceX, has acknowledged in the past that he paid too much for Twitter but has expressed confidence in its prospects in the long run

Tesla to suspend output at its China factory partly due to slowing demand

Consumer demand for cars in China has been dented by the country's still strict approach to Covid

Zoom video conferencing to arrive on new Tesla electric vehicles soon

With the Zoom Mail and Calendar Clients, users no longer need to leave the Zoom platform to access their email and calendar

Elon Musk's Tesla loses 2 years of gains amid Twitter saga, demand fears

The stock closed down 7.2% at $177.59 in New York on Wednesday, dropping to its lowest since November 2020

In a move to stoke demand, Tesla cuts prices in China by upto 9%

Tesla shares slumped as much as 4.1% before the start of regular trading and were down 2.3% to $209.43 shortly after 8 a.m. New York time

Tesla retires ultrasonic sensors in new cars with new camera tech

Elon Musk-run Tesla has announced to retire ultrasonic sensors in its cars that sense objects around them

Cathie Wood scoops up Tesla as stock tumbles on deliveries miss in Q3

Funds backed by Wood's Ark Investment Management LLC bought 132,213 shares in Elon Musk's company on Monday, marking the firm's first purchase of Tesla since mid-June