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American electric carmaker Tesla on Friday said it will expand its charging network, including superchargers, across major hubs in India as it looks to accelerate its journey in the country. The company, which made its much-awaited entry into India, launching its Model Y, had on Wednesday launched its second model, a three-row six seater SUV Model YL priced at Rs 61.99 lakh and is simultaneously intensifying charging network expansion to address range anxiety of customers. "We already have five super charging stations in India, which we have built around the lifestyle of our customers, where they go to work, shop, dine and travel," Tesla India General Manager Sharad Agarwal told reporters here. He further said,"In the coming months, you will see that we will build charging infrastructure around the major hubs, which are Delhi, Chandigarh, Jaipur, Chennai, Hyderabad, Bengaluru, Mumbai and Pune." These are the cities where Tesla is going to build the charging infrastructure -- ...
American electric carmaker Tesla will bring its humanoid robot, Optimus to India at the right time, a senior company official said on Wednesday. The company will also look at bringing its vertically integrated energy solution business to the country at an appropriate time, Tesla chief for APAC region Isabel Fan told reporters here. She said Tesla will start volume production of Optimus later this year in the US. "Humanoid robots will be big part of our life in the future, " Fan said. Humanoid robots would have several uses, including as a companion or to execute "dangerous task" that a human would not prefer to do, besides providing home medical requirement support, she noted. "I have a commitment when it (time) comes right on the things (as) you have seen (in) other markets, we want to bring to India. That's the goal," Fan said referring to the company's humanoid robot. With the help of robots human lives will be much easier, she added. "This is a good option for humans to have a
Sales of Tesla vehicles rose in the past three months after a brutal year of boycotts over Elon Musk's politics but still fell short of expectations. The company reported Thursday that sales rose 6 per cent to 358,023 in the three months through March, the first time in three years it posted a first-quarter increase from the year-earlier period. The increase follows a year of plunging sales due to an aging lineup and boycotts over Musk's right-wing political stands. Still, the results disappointed investors, who sold heavily on Thursday. One reason was that sales were 6 per cent lower than the 381,000 that financial analysts had expected, according to a survey by researcher FactSet. And they were sharply off from the sales for the three months ended in December. Tesla has had to contend with lower demand due to the September expiration of a USD 7,500 tax credit for EV buyers, a blow to sales across the industry. The company is hoping cheaper versions of Tesla models X and 3 introd
Tesla's annual profit plunged to its lowest level since the pandemic five years ago as it lost the title of the world's biggest electric vehicle maker to a Chinese rival and boycotts hammered sales. The EV company run by Elon Musk reported Wednesday that net income last year dropped 46 per cent to USD3.8 billion. It was the second year in a row of steep declines. The drop came despite the introduction of cheaper models and Musk's promise to remain laser-focused on the company after a foray into US politics. Still, Tesla investors have kept the faith in Musk. The stock is up 9 per cent in the past year. Musk has been urging investors to focus less on car sales and more on what he considers a bright new artificial intelligence future of robotaxis ferrying millions in cars without drivers, or even steering wheels, and robots watering plants and taking care of elderly parents. On a conference call, Musk underlined that shift by announcing Tesla had decided to close down production of t
Elon Musk, already the world's richest man, scored another huge windfall Friday when the Delaware Supreme Court reversed a decision that deprived him of a USD55 billion pay package that Tesla doled out in 2018 as an incentive for its CEO to steer the automaker to new heights. Besides padding Musk's current fortune of USD 679 billion, the restoration of the 2018 pay package vindicates his long-held belief that the Delaware legal system had overstepped its bounds in January 2024 when Chancellor Kathaleen St Jude McCormick rescinded the compensation in a case brought by a disgruntled Tesla shareholder. Tesla didn't immediately respond to a request for comment late Friday. McCormick's ruling so incensed Musk that it spurred him to spurn Delaware and reincorporate Tesla in Texas. That decision also caused Tesla's board to scramble for ways to keep its CEO happy, including a successful effort to persuade the company's shareholders to reaffirm the pay package, which was valued at USD 44.9
Elon Musk turned off many potential buyers of his Tesla cars and sent sales plunging with his foray into politics. But the stock has soared anyway and now he wants the company to pay him more -- a lot more. Shareholders gathering on Thursday for Tesla's annual meeting in Austin, Texas, will decide in a proxy vote whether to grant Musk, the company's CEO and already the richest person in the world, enough stock to potentially make him history's first trillionaire. It's a vote that has sparked heated debate on both sides of the issue, even drawing the pope's comments on it as an example of income inequality. Several pension funds have come out against the package, arguing that the board of directors is too beholden to Musk, his behaviour too reckless lately and the riches offered too much. Supporters say Musk is a genius who is the only person capable of ushering in a Tesla-dominated future in which hundreds of thousands of self-driving Tesla cars -- many without steering wheels -- w