Page 2 - Tesla

Musk-owned Tesla adjusts its EV pricing for 4th time in US in over a month

Elon Musk-owned Tesla has adjusted the pricing for its electric vehicle in the US for the fourth time in just over a month

Electric vehicles likely to equal petrol cars in price this year: Report

The tipping point when EVs become as cheap or cheaper than cars with internal combustion engines could arrive this year for mass market models and is already the case for some luxury vehicles

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's Elon Musk listens while vilified, hailed as tweet trial ends

As he sat stoically in court, Elon Musk on Friday was both vilified as a rich narcissist whose reckless behaviour risks anarchy and hailed as a visionary looking out for the little guy. The contrasting portraits of the enigmatic billionaire came during closing arguments in a trial focused on whether Musk's tweeting in 2018 misled Tesla shareholders, steering them in a direction that they argue cost them billions of dollars. The three-week trial has pitted Tesla investors represented in a class-action lawsuit against Musk, who is CEO of both the electric automaker and the Twitter service he bought for USD 44 billion a few months ago. After three hours of arguments wrapped up Friday, a nine-person jury began its deliberations in the civil case centred on two tweets Musk posted August 7, 2018 about a Tesla buyout that never happened. The first tweet, posted just before he boarded his private jet, Musk declared he had funding secured to take Tesla private. A few hours later, Musk sent

Tesla's Musk found not liable in trial over 2018 'funding secured' tweets

Shares of Tesla rose 1.6% in after-hours trading following the verdict

Elon Musk surprise appearance as high-profile Tesla tweet trial wraps up

A high-profile trial focused on a 2018 tweet about the financing for a Tesla buyout that never happened drew a surprise spectator Friday Elon Musk, the billionaire accused of misleading investors with his usage of the Twitter service he now owns. Musk, the CEO of both Tesla and Twitter, strode into the San Francisco federal courtroom moments before closing arguments from the opposing attorney in the case were scheduled to begin and took a seat alongside his legal team. Like everyone else in the courtroom, he was wearing a mask, as required by U.S. District Judge Edward Chen, but briefly dropped it as he chuckled and whispered something to one of his lawyers. Although an August 7, 2018 tweet disclosing he had funding secured " is the at the center of the trial, Musk wasn't required to show up for Friday's proceedings. His presence in court while he is trying to reverse huge losses at Twitter and overseeing Tesla amid stiffening competition underscores the importance of the trial's ..

Tesla reveals loss of $204 million from Bitcoin investments in 2022

Elon Musk-owned Tesla has revealed that the company recorded a $204 million impairment loss in 2022 on its Bitcoin investments

Gautam Adani now no longer among world's top 10 richest billionaires

In the last 24 hours, Adani's net worth has fallen $8.21 billion, the highest among the top 100 billionaires in the list

Tesla CEO Elon Musk meets US officials to discuss electric vehicles

Tesla and Twitter CEO Elon Musk met Biden administration officials in Washington to discuss electric vehicles, CNN reported on Friday citing the White House spokesman.Reportedly, Musk met with a senior American political consultant focused on climate, John Podesta and Mitch Landrieu, who oversees the implementation of the bipartisan infrastructure law.The group talked about "shared goals around electrification and how the Bipartisan Infrastructure Law and Inflation Reduction Act can advance electric vehicle production and charging, as well as the broader cause of electrification," according to the White House official.The meeting of Musk with US officials comes as the House Oversight Committee is planning to hold a hearing next month focused on Twitter and how it handled a story about Hunter Biden's laptop, according to CNN.Musk also met with US House speaker Kevin McCarthy and Democratic leader Hakeem Jeffries at the US Capitol in Washington.Taking to Twitter, Musk wrote, "Just met ..

Tesla Cybertruck won't see mass production until 2024, says Elon Musk

The Cybertruck was first announced in 2019 to widespread interest, but its production has been repeatedly delayed

Tesla says it will invest $3.6 bn in Nevada truck factory expansion

Tesla said it intends to invest USD 3.6 billion to expand manufacturing capabilities in Nevada and is confident growing software-related profits, reflected in record net income reported Wednesday for the fourth quarter of last year, will keep margins higher than any other automaker. The company confirmed it plans to produce high volumes of semi-trucks and make enough cell batteries for 2 million light-duty vehicles annually in Nevada. Nevada Gov. Joe Lombardo posted a photo on Twitter of himself and CEO Elon Musk late Tuesday after the newly elected Republican announced in his first State of the State address Monday night that Tesla had committed to a brand-new" manufacturing facility for electric trucks in northern Nevada. The project actually will expand an existing operation at the Truckee Reno Industrial Centre, about 20 miles (32 kilometres) east of Reno-Sparks along Interstate 80. But the plan takes the company a step closer to accomplishing previously announced plans to ramp

Tesla says its 4Q profit rose 59% to $3.69 bn, expects strong margins

Tesla on Wednesday posted record net income in the fourth quarter of last year, and the company predicted that additional software-related profits will keep its margins higher than any other automaker. The Austin, Texas, maker of electric vehicles and solar panels said it made $3.69 billion from October through December, or an adjusted $1.19 per share. That beat estimates of $1.13 that had been reduced by analysts, according to FactSet. The company's profit was 59% more than the same period a year ago. Revenue for the quarter was $24.32 billion, which fell short of the $24.67 billion that analysts expected. On Jan. 13, the company cut prices in the U.S. and China, its two biggest markets, by up to 20% on some models, leading many analysts to believe that demand had fallen due to high prices and rising interest rates. Tesla said in its investor letter Wednesday that it would produce about 1.8 million vehicles this year, ahead of a predicted 50% annual growth rate. But the outlook

Elon Musk's 'impulsive' use of Twitter seizes spotlight in Tesla trial

Tesla CEO Elon Musk's impulsive and sometimes inflammatory usage of Twitter took centre stage Wednesday in a trial focused on whether he misled investors with his 2018 tweets indicating he had lined up financing to take the electric automaker private, a proposal that rapidly unravelled. The spotlight on Musk's tweeting habits came a day after the 51-year-old billionaire completed three days of defiant testimony during which he told the nine-member jury why he believed he could have pulled off a Tesla buyout that could have cost anywhere from $30 billion to more than $70 billion at the time. Musk, who now owns the Twitter service that's central to the trial about his management of Tesla, raised the prospect of a buyout in an Aug. 7, 2018 tweet stating he had the funding secured for the deal. Musk followed up a few hours later with another tweet suggesting a deal was imminent. After it became apparent that the money wasn't in place to take Tesla private, Musk and the company reached

Musk defiant, defends himself in Tesla buyout tweet trial in federal court

Elon Musk returned to federal court to defend himself against a class-action lawsuit that alleges he misled Tesla shareholders with a tweet about an aborted buyout that the billionaire defiantly insisted Tuesday he could have pulled off, had he wanted. Musk spent roughly three more hours on the stand during his third day of testimony before being excused by U.S. District Judge Edward Chen. It's unlikely Musk, 51, will be summoned back to the witness stand during a civil trial expected to be turned over to a nine-person jury in early February. Musk, who also owns Twitter while continuing to run Tesla, spent much of Tuesday depicting himself, while being questioned by his own attorney, Alex Spiro, as an impeccably trustworthy business leader capable of raising as much money as he needs to pursue his visions. He testily sparred with a shareholder lawyer, Nicholas Porritt, who had raised his ire earlier in the trial. At two separate junctures Tuesday under Spiro's gentle prodding, Musk

Musk defends his tweets about taking Tesla private in San Francisco court

Elon Musk returned to federal court Monday in San Francisco, testifying that he believed he had locked up financial backing to take Tesla private during 2018 meetings with representatives from Saudi Arabia's Public Investment Fund although no specific funding amount or price was discussed. The billionaire Tesla CEO and Twitter owner is facing a class action lawsuit filed by Tesla investors alleging he misled them with a tweet saying funding was secured to take his electric car company private for $420 per share. But the deal never came close to happening, and the tweet resulted in a $40 million settlement with securities regulators. The trial hinges on the question of whether a pair of tweets that Musk posted on Aug. 7, 2018, damaged Tesla shareholders during a 10-day period leading up to Musk's admission that the buyout he had envisioned wasn't going to happen. Speaking in a soft halting tone, Musk said Monday he had trouble sleeping last night and unfortunately I am not at my .

Elon Musk rebuffed in bid to move misleading Tesla tweet trial to Texas

A federal judge on Friday rejected Tesla CEO Elon Musk's bid to move or delay a trial over a misleading tweet about a potential buyout of the electric automaker, setting the stage for the mercurial billionaire to be thrust into a legal drama amid the turmoil of his Twitter takeover. The decision by US District Judge Edward Chen came during a hearing held in San Francisco federal court to go over the final details of a trial scheduled to begin Tuesday with jury selection. Musk's attorneys last week asked Chen to transfer the trial to a federal court in Texas, where Tesla moves its headquarters in 2021, arguing that negative coverage of Musk since his USD 44 billion purchase of Twitter in October had poisoned the jury pool in the San Francisco Bay Area. But Chen brushed aside those concerns Friday, and expressed confidence that a panel of impartial jurors could be drawn from a region populated by millions of people. He also noted that a jury was pulled together for trial in the highly

After China, Tesla now announces price cuts on its electric vehicles in US

Tesla has also announced price cuts in South Korea, Japan, Australia and Singapore

Delivery time gets longer for some Tesla models in China after discounts

The waiting time for orders of the rear-wheel-drive and long-range versions of Model Y was a week longer on Monday than it had been on Friday, Tesla's website showed

Teslas now over 40% cheaper in China as prices cut again amid competition

Tesla already cut prices in China last year to boost sales as competition heats up in both the mass and premium segments

Tesla's board takes more heat over Elon Musk succession planning

Karen Róbertsdóttir has submitted a resolution for Tesla investors to vote in May on whether the board should prepare and maintain a key-person risk report