Tesla Financial News

Tesla chief and tech magnate Elon Musk on Sunday publicly criticized Brazilian judge Alexandre De Moraes, demanding his resignation. Musk's statement comes amidst mounting tensions between the Brazilian government and social media platforms over issues of censorship and freedom of expression.

Tesla Roadster, with ‘space-inspired attributes’, and an incredibly high speed of 0-60 mph (0-97 kmph) in less than a second has ignited speculation within the automotive industry globally. What specific features could embody these premium attributes in an electric car, and how might they influence India’s burgeoning electric luxury car market? While the next-generation Roadster with record-setting acceleration, range and performance might offer a glimpse into the future, US-based Tesla, Vietnam’s Vinfast, China’s BYD and many other global luxury car makers may bet on premium feature-led electric models for the Indian market.

Alibaba, the prominent Chinese e-commerce giant, aims to revolutionize global delivery services by exploring one-hour deliveries using a rocket-based system in partnership with Beijing's Epoch Space. Facing fierce competition, especially in its flagship Taobao marketplace, Alibaba seeks to maintain its industry dominance. Previously offering five-day deliveries in key global markets through Cainiao Smart Logistics Network, Alibaba now ventures into rocket-based transportation to further expedite delivery times.

Elon Musk revealed Friday that Tesla will pull back the curtain on a robotaxi this summer, news that comes as the adoption of self-driving vehicles hits speed bumps over safety concerns. The billionaire boss of the electric car maker did not provide details, saying only in his post on X that the "Tesla Robotaxi unveil" will come on August 8.

Mark Zuckerberg passed Elon Musk on Friday to become the third-richest person in the world, the first time since 2020 the arch-rival billionaires have held those positions. Musk, who ranked first on the Bloomberg Billionaires Index as recently as early March, fell to fourth after Reuters reported Tesla Inc. had canceled plans for a less-expensive car, sending shares lower. However, Musk denied the report. That followed news earlier in the week that Tesla’s vehicle deliveries fell in the three months through March, their first year-over-year decline since the early days of the Covid pandemic.

Robotaxi on August 8, CEO Elon Musk announced in a social media post on his site X (formerly known as Twitter). This comes as Tesla registers weak sales amid competition from affordable Chinese electric vehicles (EVs), Bloomberg reported. Following the announcement, Tesla's shares surged by up to 5.1 percent in postmarket trading in New York.

Tesla has pivoted from rapid-fire price-cutting this time a year ago to heavily discounting cars now piling up in inventory. The automaker offers consumers two ways to buy new vehicles online: to place custom orders, selecting the vehicle type, paint colour, wheels and other options, or to peruse pages where Tesla lists the cars it has in inventory. While Tesla started charging $1,000 more to custom order its best-selling vehicle, the Model Y, at the beginning of the month in the US, it's offering much bigger markdowns on the SUVs it has in inventory.

India are expected to rise 66% this year after nearly doubling in 2023 as state subsidies help fuel demand and supporting infrastructure comes up in the country, according to research firm Counterpoint. WHY IT'S IMPORTANT The rapid growth in sales comes at a time when EV growth in other key markets such as the United States and China are slowing.

BEIJING — Chinese electric car company Nio has been expanding its battery swap partnerships in a bid to gain an edge on the infrastructure side of the EV ecosystem.

Tesla’s much-anticipated entry into the Indian market, which had been under negotiation for half a decade or so, finally seems to be in acceleration mode. The company will reportedly send executives later this month to scout for sites in India where an electric-car factory with an investment of $2-3 billion could be set up.

Mint was the first to report last July that Tesla executives in their meetings with the ministries of heavy industries and commerce had discussed importing EVs from its Berlin gigafactory for the Indian market, as opposed to Shanghai, which is its main export base. The government plans to open the application process for its new EV policy, as well as publish detailed guidelines under it, in a span of 60-70 days from now, even though the policy stipulates for applications to start within 120 days of the policy announcement, which took place on 14 March, the people cited above said on condition of anonymity.

Telangana government is holding discussions with Tesla by putting in all efforts to establish their plant in the state, Industries Minister D Sridhar Babu said on Thursday. In a message on X Sridhar Babu said since December 2023 the state government has been actively focusing on major investment opportunities by global giants, and as part of its focus, Tesla's planned investment initiatives in India are also being tracked. Read More: Tesla begins making cars in Germany for export to India this year: Sources

EV manufacturing in India. In an interview with Bloomberg, Rajesh Kumar Singh, the secretary of department for promotion of industry and internal trade said that now it's up to Elon Musk’s Tesla to make the announcements of their manufacturing plans. “We will help them out in terms of giving them the contacts at state level.

Ford Motor said it is delaying the launch of a new three-row electric vehicle, which will buy time for the consumer market for EVs to further develop. The carmaker now expects to launch the new EV in 2027, delayed from a previous target date of 2025. Ford said it will still produce the EV at its Oakville Assembly Plant in Canada, which Ford is planning to overhaul from gas-vehicle production to an EV manufacturing plant.

Tesla Inc.’s court to lay down its investment plans for the South Asian nation after the government cut import duty on electric vehicles. The industry department last month released a comprehensive policy for boosting EV manufacturing in the world’s most-populous nation. Following that move, it’s up to Elon Musk’s carmaker to “make the announcements of their manufacturing plans,” Rajesh Kumar Singh, secretary of department for promotion of industry and internal trade, told Bloomberg in an interview on Thursday. “We will help them out in terms of giving them the contacts at state level,” Singh said. “There have been contacts made at that level with state governments and the central government. VinFast has already announced and we expect a few others.”

Tesla has begun production of right-hand drive cars at its plant in Germany for export to India later this year, three people aware of the company's plans told Reuters, as it moves ahead with a possible entry into the world's third-largest car market. A team from Tesla is expected to visit India later this month to look at sites for a local car manufacturing plant that would require an investment of about $2 billion, said two of the three people, who declined to be named because the plans are not public yet. India last month slashed the import tax rate on certain electric vehicles if their makers invest at least $500 million in the country and start production there within three years. The move is a win for Tesla, which had lobbied for months for lower taxes, but faced resistance from local carmakers.

Tesla is increasing compensation for its AI engineering team, contingent on performance milestones, Musk wrote on X, his social media network. In responding to a report by The Information on how his startup xAI has poached four engineers from Tesla, the chief executive officer blamed “the craziest talent war I’ve ever seen!" An exodus of personnel from Musk’s most valuable company to his newest may exacerbate concerns about conflicts and governance within the billionaire’s empire.

A large number of people could be losing out on money owed to them by the Canada Revenue Agency because they don’t understand how to maximize their tax refunds.

India Today. Setting a new benchmark as the world's most powerful MRI scanner, the machine's cutting-edge technology boasts an unparalleled magnetic field strength of 11.7 Teslas. The CEA claims that the images are the result of over two decades of rigorous research and development. ALSO READ: Mars exploration: NASA's Curiosity searches for new clues about ancient water Adding more details, the report said that the CEA aimed to construct an MRI machine that is capable of providing insights into the healthy and diseased human brain with unmatched resolution.

Former Chrysler and Home Depot CEO Bob Nardelli on consumer expectations clashing with EV market results and the state of the U.S. economy.

Tesla will send a team to India this month to scout locations for a proposed $2 billion to $3 billion electric car plant, the Financial Times reported on Wednesday. India last month lowered import taxes on certain electric vehicles produced by carmakers that commit to invest at least $500 million and start domestic manufacturing within three years. The company will send a team from the United States by late April to study sites for the plant, with a focus on states that have automotive hubs such as Maharashtra, Gujarat and Tamil Nadu, the report said, citing people familiar with the matter.