Tesla Financial News

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Nayib Bukele met in the United States on Friday with tech billionaire Elon Musk to discuss artificial intelligence and other topics, after which the pair piled on mutual praise. «It was a pleasure to spend several hours talking with one of the great minds of our time @elonmusk,» Bukele said on X, the social network owned by Musk. The Salvadoran president posted a short video showing Musk receiving him at his gigafactory plant in Austin, Texas, where batteries for Tesla electric cars are manufactured.

The U.S. Securities and Exchange Commission (SEC) announced on Friday its intent to pursue sanctions against Elon Musk.

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Tesla Semi’s lithium-ion battery, resulting from a crash, required around 50,000 gallons or about 190,000 litres of water to extinguish. The incident took place on August 19 and is being investigated by the US's National Transportation Safety Board (NTSB). According to the NTSB's preliminary report, the battery reached temperatures of 1,000 degrees Fahrenheit. As a safety measure, firefighters also used an aircraft to drop fire retardant around the truck. The crash occurred near Interstate 80 at Emigrant Gap, approximately 70 miles northeast of Sacramento. NTSB investigators examined the fire risks linked to the truck's large battery. They confirmed that the truck was not operating on Tesla's partially automated driving systems, which «could not be engaged.»

Subscribe to enjoy similar stories. Jim Farley had just returned from China. What the Ford Motor chief executive found during the May visit made him anxious: The local automakers were pulling away in the electric-vehicle race.

The National Transportation Safety Board says California firefighters had to douse a flaming battery in a Tesla Semi with about 50,000 gallons of water to put out flames after a crash

Subscribe to enjoy similar stories. Elon Musk secretly channelled hundreds of thousands of dollars into a local race in Travis County, Texas, in an unsuccessful effort to unseat a prosecutor who had won the office with the backing of the investor and Democratic donor George Soros. A group primarily funded by the Tesla and SpaceX chief executive, which called itself Saving Austin, sent out fliers and texts and spent more than $650,000 on television ads attacking District Attorney José Garza in the Democratic primary race earlier this year, according to people familiar with Musk’s involvement, as well as Federal Communications Commission filings and corporate documents.

General Motors and Hyundai Motor are exploring a partnership that could mean savings on items like steel and electric-vehicle battery materials or even result in the joint development and production of vehicles, the companies said Thursday. The American and Korean automakers are looking for additional scale as they navigate a costly transition from internal combustion engines to EVs.

In his response, Musk tweeted, «Fine Taylor … you win … I will give you a child and guard your cats with my life.» This remark was made in reaction to Swift’s endorsement of Harris, which she shared following a debate between Harris and Donald Trump. Swift’s post highlighted her support for Harris’s leadership and was aimed at contrasting Harris's steadiness with the chaos she associated with Trump. Musk’s comment was met with immediate backlash. Critics on X labeled his statement as creepy and inappropriate, with some even labeling it as sexual harassment. Claudia Conway, daughter of former Trump aide Kellyanne Conway, was among those who condemned Musk, stating simply, “You’re creepy. Full stop.” Armand Domalewski, a pro-Democratic data scientist, described the comment as “skin-crawlingly creepy” and criticized Musk for making such an overtly intrusive statement.

₹750 crore, or 25% of Ather’s fresh issue, is earmarked for research and development (R&D), which is comparable to Hero’s FY24 R&D budget of ₹826 crore, or around 2% of its revenue. Read this | With Rizta, Ather looks to bond better with family scooter market The other objective of the issue is the capital expenditure of ₹927 crore for setting up a new plant in Maharashtra with initial capacity of 500,000 units. The existing capacity at the Tamil Nadu plant is about 400,000 units, though its capacity utilization is only around 30%.

Signs of angst are already mounting. A three-month measure of implied volatility for a key Bloomberg dollar gauge is near its highest mark since the March 2023 banking crisis. Equities’ so-called fear gauge is once again on the upswing after surging amid the market tumult of early August. Fixed-income traders are also weathering more turbulence, as mixed economic signals complicate bets on the scope and timing of Federal Reserve interest-rate cuts.

People like Elon Musk and Steve Jobs at times seemed to have a je ne sais quoi that allowed them to act and behave as leaders of their companies in ways that would have tripped up mere mortals. This past week, Silicon Valley put a name to it: “Founder Mode." It’s a term coined by Paul Graham, co-founder of Y Combinator, an influential startup incubator in the San Francisco Bay Area.

Elon Musk, the founder of SpaceX, Tesla, and the social networking company X, has the potential to become the first trillionaire in history by 1027. Informa Connect Academy, a wealth tracking organization, released a new analysis that produced this finding. The pace of growth in Musk's fortune has been 110% annually. Upon the publication of the report, the Bloomberg Billionaires Index listed him as the richest person in the world, owning $251 billion, as per the reports of The Guardian. Other people who might become trillionaires were also highlighted in the research. If Gautam Adani, the founder of an Indian business empire, continues to grow at his current rate of 123% every year, he may become a trillionaire by 2028. If their present growth continues, Prajogo Pangestu, an Indonesian oil and mining magnate, and Jensen Huang, the CEO of tech company Nvidia, may also reach the trillion-dollar threshold in 2028. By 2030, two individuals are predicted to become trillionaires: Mark Zuckerberg, the CEO of Meta, and Bernard Arnault, the head of LVMH Moet Hennessy Louis Vuitton.

BMW has expressed reservations about investing under India's new electric vehicle (EV) manufacturing policy, citing concerns over the lack of recognition for companies with a long-standing presence in the country. According to Vikram Pawah, President of BMW India, while the policy supports the EV market, it overlooks the contributions of established players like BMW who have been operating and investing in India for years. Pawah explained that the current policy does not create a level-playing field, as it treats new entrants and existing companies alike without considering the latter's prior investments in the country. “The threshold for investment should have been different for a new player versus someone who has already been here. We want our previous investments to be recognized… We need a level-playing field,” Pawah told The Times of India. BMW is among a growing number of companies that are reluctant to engage with the policy, which was introduced in mid-March 2024 to entice foreign carmakers, notably Tesla, to invest in India's burgeoning EV market. However, Tesla remains hesitant, and many other multinational firms, including BMW, have not been enthusiastic about the policy’s current framework.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Elon Musk's AI startup xAI has discussed a deal that would give it some revenue from Musk's Tesla in exchange for providing the electric vehicle maker access to its technology and resources, the Wall Street Journal reported on Saturday. Under a proposed arrangement as described to investors, Tesla would license xAI's artificial intelligence models to help power full self-driving technology and share some of that revenue with the startup, the newspaper said, citing people familiar with the matter.

Donald Trump last month, Elon Musk raised the idea of a "government efficiency commission." Such a council could ensure that taxpayers' money was «spent in a good way,» Musk said during their more-than-two-hour talk. «I'd love it,» Trump said. On Thursday, Trump followed up on Musk's suggestion. In a speech at the Economic Club of New York, Trump said he planned to appoint Musk, who leads Tesla, SpaceX and X, as the head of a new government efficiency commission if he was elected president in November.

Asian shares are trading mixed ahead of a highly anticipated U.S. jobs report that’s expected to influence how the U.S. Federal Reserve will move on interest rates