Page 23 - Tesla

Tesla gets $94 billion market cap reality check as EV winter sets in

The hit to Tesla's market capitalization to start the year is the biggest the company has seen over a similar period since it went public in 2010

Tesla is raising worker wages as auto union tries to raise its EV plants

Factory workers at Tesla have been told to expect pay raises this year, a move that comes as the United Auto Workers union tries to organize the electric vehicle maker's U.S. plants. The UAW said Thursday that Tesla workers have told the union about company statements on the raises, which did not give details about the size of the increases. After winning strong contracts with Detroit's three automakers last year, the union has embarked on an effort to organize all nonunion auto plants in the U.S., including Tesla's assembly and battery factories in Texas, California and Nevada. The Tesla raises come after nearly all companies with nonunion auto plants announced worker pay increases shortly after the UAW contracts were ratified. The UAW said its organizing drive will target more than a dozen U.S. plants run by Toyota, Honda, Hyundai, Nissan, Subaru, Mazda, Volkswagen, Mercedes, BMW and Volvo. Tesla also is on the list, along with EV startups Rivian and Lucid. UAW President Shawn F

Outgrowing Apple

India must approach its industrial policy with a lighter and practical, reform-oriented touch instead of trying to deal with individual companies like Apple or Tesla

Musk not attending Vibrant Guj but Tesla welcome to invest: Official

Amid speculation that Elon Musk will visit Gujarat, a senior government official on Wednesday said the billionaire-founder of Tesla is not coming for the ongoing Vibrant Gujarat Global Summit, but they are welcome to invest in the state. The state is very keen to get Tesla if it comes to India, Managing Director of Gujarat Industrial Development Corporation Rahul Gupta said. He also said the state is already home to a slew of electric vehicle manufacturers. To a specific question on whether Musk is expected to attend the three-day event inaugurated by Prime Minister Narendra Modi earlier in the day, a state government official replied in the negative. "Musk is not expected. If he were to come, would he not attend the inaugural session? Will he be attending the seminars on day 2 and day 3?" the official said on the condition of anonymity. Speculation was rife that Musk might attend the summit. "You will appreciate that it is the prerogative of any particular company on where to in

Tesla launches restyled Model 3 in North America at unchanged prices

The move will refresh Tesla's aging vehicle line-up in its biggest market and follows a price war last year that helped the company meet its annual deliveries goal at the cost of margins

Tesla planning to bring in smaller batteries for its India car: Report

These smaller batteries are already being used by the company in China and could be key for Tesla to reduce the cost of the car it has proposed to bring to India

Apple leads $370 billion tech rout in reversal from group's 2023 rally

Tesla has shed more than 8% in the last four days, its longest streak of losses since November

Tesla deliveries beat estimates in Q4 as year-end sales push pays off

The automaker delivered a record number of vehicles in the fourth quarter and hit its 2023 target of 1.8 million, helped by increasing discounts on key models

Govt 'very hopeful' of Tesla setting up plant in state: Guj Minister

Gujarat Minister Rushikesh Patel on Thursday said his government was "very hopeful" that Elon Musk-led Tesla will choose the state to set up a plant and informed communication was on with the firm in this regard. Patel was responding to queries based on news reports suggesting that the US-based electric vehicle maker was planning to set up a manufacturing plant in Gujarat. "The state government is very hopeful of Tesla coming to Gujarat. Even Elon Musk is looking at Gujarat as his first choice. Gujarat is in his mind ever since he began a survey in India to find a suitable location to set up the plant," said Patel, who is health minister and spokesperson of the state government. "Perhaps, very soon, an official announcement will be made in this regard (Tesla's entry. Let us hope Tesla comes to Gujarat. We will definitely welcome it and provide all necessary support, just like we gave Tata, Ford and Suzuki in the past," Patel told reporters in Gandhinagar. Patel said communication .

Chinese carmaker BYD Co overtakes Tesla as world's most popular EV maker

In a sector still dominated by more familiar names like Toyota Motor Corp., Volkswagen AG and General Motors Co., Chinese manufacturers including BYD and SAIC Motor Corp. are making serious inroads

Tesla planning to revamp smash hit model Y from Shanghai plant: Report

Earlier this year, Tesla revamped its six-year-old Model 3 sedan with a sleeker look and longer range to attract customers

Tesla faces inquiry by Norway's safety regulator over suspension failures

A decision is expected by Christmas. The agency has the authority to order a recall if an automaker refuses

Tesla analysts eyeing electric vehicle slowdown turn more cautious on 2024

Some of the EVs made by Tesla may no longer qualify for government subsidies in the US and in some European countries in 2024, putting further pressure on the company's revenue

Elon Musk brands 'diversity, equity and inclusion' as 'propaganda words'

The billionaire is chief executive officer and the largest shareholder of Tesla, the electric-vehicle maker which has boasted that underrepresented groups make up the majority of its US workforce

In a blow to Tesla, Indian govt says not planning to reduce EV import tax

Parkash said existing policies under the government's "Make-in-India" push are aimed at encouraging domestic and foreign investment in the EV industry

Tesla shows off Optimus Gen 2 robot with improved hands, slimmer figure

Optimus remains a concept in development and will have to shake off the underwhelming debut it made a year ago, when Tesla staff had to move one of the prototypes into position

Tesla recalls over 2 mn vehicles for fixing autopilot monitoring system

Tesla is recalling more than 2 million vehicles across its model lineup to fix a defective system that's supposed to ensure drivers are paying attention when they use Autopilot. Documents posted Wednesday by US safety regulators say the company will send out a software update to fix the problems. The recall comes after a two-year investigation by US auto safety regulators into a series of crashes that happened while the Autopilot partially automated driving system was in use. Some were deadly. The National Highway Traffic Safety Administration says its investigation found Autopilot's method of ensuring that drivers are paying attention can be inadequate and can lead to foreseeable misuse of the system. The recall covers nearly all of the vehicles Tesla sold in the US since it activated Autopilot late in 2015. The software update includes additional controls and alerts to further encourage the driver to adhere to their continuous driving responsibility, the documents said. The sof

Elon Musk forces eco-conscious Scandinavians to choose between EVs, unions

A small walk-out at Tesla's seven repair shops in Sweden over unfair working conditions has in the past month spiralled into a storm of labor strikes

PM Modi shouldn't chase Elon Musk for manufacturing Tesla in India

If the Indian government believes this is how to build an EV-manufacturing ecosystem, however, it ought to think again

Tesla India entry: 'Will never give firm-specific incentives in EV sector'

India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said. The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but "we never" come to any conclusion on those. In 2021, the US-based electric car maker demanded a reduction in import duties on electric vehicles (EVs) in India. It had requested the government to standardize the tariff on electric cars to 40 per cent irrespective of the customs value. At present, cars imported as completely built units (CBUs) attract customs duty ranging from 60 per cent to 100 per cent, depending on engine size and cost, ..