Tesla Financial News

(Reuters) — Rental car firm Hertz said on Friday it has appointed Gil West as its chief executive officer, effective April 1.

Tesla, including a drastic cut in customs duty, as an incentive to set up manufacturing facilities in the country. The contours of the Scheme to Promote Manufacturing of Electric Passenger Cars in India are in line with a persistent demand from the Elon Musk-led company to lower India’s 70% import duty on cars if it was to establish a plant in India. The policy allows a sharply reduced rate of 15% customs duty for up to 8,000 EVs annually imported by a company that commits to Make in India. According to the policy document, carryover of any unutilised annual import limits will be permitted. The finance ministry notified the lower duty rate on Friday. “Companies setting up manufacturing facilities for EVs will be allowed a limited import of cars at lower custom duties,” said heavy industries minister Mahendra Nath Pandey.

EV makers to test the Indian market while they make up their minds on local manufacturing. This was a sticking point in negotiations with Tesla, which wanted import duties lowered as a precondition to investing in the country. GoI was clear that it would not permit dumping of cars manufactured in China.

finance ministry on Friday notified the lower 15 per cent duty rate on the import of electronic vehicles (EV) of a minimum value of USD 35,000, subject to certain conditions, announced under the EV policy. Currently, EV imports attract 100 per cent Customs duty. Earlier in the day, the Heavy Industries Ministry had notified a 'Scheme to promote manufacturing of electric passenger cars in India', under which import duty concessions would be given to companies setting up manufacturing units with a minimum investment of USD 500 million. Following that, the finance ministry notified that EVs of a minimum value of USD 35000 can be imported at 15 per cent duty up to year 2031 by companies that set up manufacturing facilities under the scheme.

Nissan and Honda have announced they will work together in developing electric vehicles and auto intelligence technology, sectors where Japanese automakers have fallen behind

Elon Musk has abruptly canceled “The Don Lemon Show” a talk show on his social media network, X

Investing.com — U.S. futures edged higher Thursday, as investors awaited the release of more inflation data, looking for clues as to when the Federal Reserve will start its rate-cutting cycle.

Several Wall Street analysts lowered their target for Tesla (NASDAQ:TSLA) stock recently. Today, UBS analysts cut their numbers due to concerns over potential earnings downside risk. This decision comes amidst a series of challenges faced by the electric vehicle (EV) giant, including demand and production concerns.

A look at the day ahead in U.S. and global markets from Mike Dolan

By Joseph White

Elon Musk had filed a lawsuit against OpenAI earlier this month at the San Francisco Superior Court of breach of contract. In the lawsuit Musk accused OpenAI of breach of fiduciary duty and unfair business practices, claiming that the AI company has breached its founding agreement and should revert to an open source platform.

Updates to correct reference to Rivian (NASDAQ:RIVN) bankruptcy report to Fisker Inc (NYSE:FSR).

Tesla CEO Elon Musk is visiting the electric car maker’s first European plant as production resumes at the factory just outside Berlin, about a week after a suspected arson attack cut its power supply

Saudi Aramco (TADAWUL:2222) closed out 2023 with an impressive profit of $121.3 billion, securing the top spot globally for profits among publicly listed companies.

Investing.com – Main U.S. indexes were mixed Wednesday, with strength in the Dow and weakness in the tech-heavy Nasdaq, while the S&P 500 traded flat. Averages consolidated gains after moving higher following data on consumer prices yesterday, with more inflation data on tap for later this week.

Tesla (NASDAQ:TSLA) stock fell 1.5% in early New York trading Wednesday after Wells Fargo downgraded the rating to Underweight (equivalent to sell) from Equal Weight. Analysts called Tesla “a growth company with no growth.”

The Washington Post. The offer was made when Musk was still running Twitter, now rebranded as X, after his high-profile acquisition in late 2022. Citing two unnamed sources, the report claimed that Trump and Musk have been in contact regarding Truth Social “more than was previously known".

A network operator says power has been restored to electric car manufacturer Tesla’s factory near Berlin after a nearly one-week outage believed to have been caused by arson

MILAN (Reuters) — Automaker Toyota Motor (NYSE:TM) Corp became the most shorted large-cap stock by hedge funds in the Asia Pacific region in February, overtaking Takeda Pharmaceutical, a report from data firm Hazeltree showed on Tuesday.

Elon Musk's Tesla seeks tariff concession to enter Indian market, but Minister says, 'We do not tailor policy for any…' Informing about the new feature via an X post, Musk wrote, “In the coming weeks, posts that you add to your Highlights tab will receive a slight boost in reach, provided this function is not overused. Highlights are meant to be what you think are your most interesting posts" Meanwhile, this is not the first time that Musk has promoted the Highlights tabs feature. The billionaire had also promised enhanced reach for Highlighted posts last year.

China dominates the global electric vehicle (EV) industry today, and it is only likely to get more dominant in the future. Chinese dominance spans manufacturing, batteries, supply chains and demand. Today 60% of all EVs sold in the world are in China.