Page 2 - Tesla

Tesla profit tumbles 31% despite record sales of EVs as costs rise

Elon Musk highlighted Tesla's Q3 AI and robot projects and his trillion-dollar pay plan, but gave few details on reviving EV sales after a 40 per cent profit drop

Samsung now taking bigger role in making Tesla chips, says Elon Musk

In July, Musk said Samsung made Tesla's AI4 chip and would produce the next-gen AI6, while TSMC handles the current in-development version

Tesla urges Delaware Supreme Court to restore Musk's $56 billion payday

One of the biggest corporate legal battles entered its final stage after a lower court judge rescinded the Tesla CEO's record compensation in January 2024

Global EV price war heats up as Tesla, Nissan and Hyundai slash prices

Automakers worldwide are cutting electric vehicle prices as demand slows; Tesla, Hyundai, Nissan and Chinese brands lead a global price war to attract buyers

Tesla launches cheaper versions of 2 EVs in bid to win back market share

Tesla rolled out new, cheaper versions of two of its electric car models on Tuesday in hopes the offerings will help revive flagging sales but investors dumped its stock anyway. The new Model Y, costing just under USD 40,000 with a stripped-down interior, comes in a brutal year for Tesla as it tries to attract more customers despite an aging lineup, stiff competition from foreign EV makers and anti-Elon Musk boycotts targeting the company. The reaction from the stock market after the news broke suggests the new models are not expected to help much. Investors were looking for something truly different, not an iteration of a old product, said Edmunds analyst Ivan Drury, speaking as Tesla stock dropped sharply in the last minutes of trading. I can't imagine this will bring levels back to what they want. Tesla also announced a cheaper version of its Model 3 for under USD 37,000. For New York residents taking advantage of a state rebate, the price was below USD 35,000. Tesla has talked

Tesla to unveil cheaper version of Model Y to offset loss of tax incentives

The move follows the company's decision to introduce a more affordable version to offset the impact of reduced US incentives for electric cars

Trillionaire Musk?: How Elon Musk could become the first trillionaire | Tesla

Tesla CEO Elon Musk has become the first individual in history to hit a net worth of $500 billion. With Tesla’s soaring stock, SpaceX’s rising valuation,

Elon Musk's $1 trn pay plan faces pushback from investors, state officials

In response to Thursday's letter, Tesla said in a post on X that the performance incentive plan aligns Musk's compensation with shareholder value creation 'of trillions of dollars'

BYD outsells Tesla for fourth straight quarter despite sales dip

Musk has warned Tesla "could have a rough few quarters" after losing the US incentives

Tesla sued over Cybertruck door defects in fatal California accident

In the lawsuit, families claim passengers were trapped inside a burning Cybertruck, citing electronic door failures and nearly impenetrable 'armor glass' windows as key hazards

Musk's net worth hits $500 bn; Tesla CEO to become first trillionaire?

The shares of Tesla saw rose by nearly 4 per cent and added an estimated $9.3 billion to Musk's fortune as investors continued to cheer the prospects of a more focused Musk

Tesla India begins Model Y deliveries, offers free home charging setup

Tesla India on Monday said it has commenced deliveries of Model Y after introducing the model in July this year. Within two months, the company has started the deliveries of the Model Y; this marks a significant step forward and creates a new chapter in electric vehicle ownership and sustainable development in India, the American electric vehicle maker said in a statement. New Model Y owners will be provided with a complimentary wall connector, allowing convenient installation in their parking space for easy home charging, it added. The redesigned Model Y, the world's best-selling electric vehicle in 2023 and 2024, is available in two trims: rear-wheel drive and long-range rear-wheel drive, which provide 500 km and 622 km (WLTP) range, respectively, the company stated. Tesla said it will also start deliveries for Long Range Model Y customers soon. The company had opened its first experience centre in Mumbai in July followed by second experience centre in Delhi at Aerocity in Augus

Nissan revamps ProPilot system to rival Tesla driver-assist technology

The Japanese automaker says the most advanced iteration of its driver-assist technology will be on par with Tesla Inc.'s Full Self-Driving

Tesla Group and SRAM & MRAM to build EV battery gigafactories in India

Battery energy storage systems maker Tesla Group a. s. and SRAM &AM Group, a global leader in technology and sustainable development, have inked a USD 1 billion agreement to set up electric vehicle battery facilities in India and other countries, according to a company official. As per the agreement, a total of five EV battery factories, also called gigafactories, will be set up in India and 15 other countries such as the US, Malaysia, Oman, Brazil, the UAE, and Cambodia, Sailesh L Hiranandani, Chairman of SRAM &AM Group, said in a statement. "The collaboration will create one of the largest battery manufacturing and storage supply chains for electric vehicles (EVs) globally," he added. SRAM &AM Group will lead efforts to secure single-window approvals, grants, subsidies, tax incentives, and local partnerships, while TESLA Group a.s. will oversee the design, engineering, and construction of these cutting-edge facilities to ensure seamless execution, he said. "By combining

Tesla faces probe as parents say faulty doors trapped children inside

Federal auto safety regulators opened an investigation Tuesday into possible defects in Tesla doors that have reportedly left parents with children trapped in the back seat and forced to break windows to get them out. The National Highway Traffic Safety Administration said the preliminary probe is focused on 2021 Tesla Model Ys after receiving nine reports of electronic door handles not working possibly due to low battery voltage. The company run by billionaire Elon Musk has installed manual door releases inside the vehicles but NHTSA noted that a child may not be able to reach or know how to operate the releases. In four cases, the parents had to break the windows to get inside. The investigation into Tesla's most popular model comes after numerous reported incidents in recent years of other problems with opening Tesla doors, sometime trapping drivers in burning vehicles after accidents and a loss of power. In April, a college basketball recruit said he was fighting time trying to

No more Trump BFF, Elon Musk nearly recovers wealth lost earlier this year

Elon Musk's net worth has rebounded to around $430 billion after a rocky year of political controversies, Tesla stock swings, and a public falling-out with US President Donald Trump

Tesla market share in US drops to lowest since 2017 as competition heats up

The decline highlights the threat from automakers ramping up EV incentives at a difficult time for the industry

Elon Musk to be world's first trillionaire with new compensation package?

Tesla has proposed a $1-trillion performance award for Elon Musk, granting him 12% of shares if the company's market cap hits $8.5 trillion and key milestones are met

Tesla's India sales fall short with only 600 cars ordered since July

The electric vehicle maker now intends to ship between 350 and 500 cars to India this year, with the first batch expected to arrive from Shanghai in early September

Tesla's sales rout in some European markets extends to eighth month

Registrations of new Tesla cars in France were down 47.3% in August from August 2024, while the overall car market grew nearly 2.2%, data showed on Monday