Tesla Financial News

India offers to facilitate local manufacturing of electric vehicles will be equal for foreign as well as domestic investors, government officials said, amid concerns raised by automakers in India over possible concessions in import duty to American carmaker Tesla. Senior government officials in the know told ET that Tesla has sought provisional tariff concessions as a prerequisite for setting up a manufacturing facility in India, but New Delhi is not in favour of any company-specific exemptions. «The government's approach is for the industry as a whole and not for any specific company because we have very strong domestic companies in this sector,» said an official, adding that any incentives offered will be equal for domestic and foreign investors. The government is in the process of drawing up a policy to incentivise local manufacturing of electric cars, at a time when US EV maker Tesla and its relatively lesser-known Vietnamese rival VinFast are firming up their India entry strategy. While policy guidelines are yet to be finalised, local carmakers said offering concessional tariffs to Tesla will adversely impact investments that have already been made or are being made by them to produce electric vehicles.

deal with General Motors will raise pay across the industry, force automakers to absorb higher costs, and help reshape the auto business as it shifts away from gasoline-fueled vehicles. Workers at Stellantis, the maker of Jeep, Dodge, and Ram vehicles, voted 68.8% in favor of the deal. Their approval brought to a close a contentious labor dispute that included name-calling and a series of punishing strikes that imposed high costs on the companies and led to significant gains in pay and benefits for UAW workers.

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Olectra Greentech. The stock, which was trading at ₹497 per share at the start of the year (2023), has witnessed an astounding surge of 141% to trade at the current level of ₹1,196.

Mira Murati has worked behind the scenes at OpenAI, overseeing the development and delivery of revolutionary products such as ChatGPT and DALL-E. Now she is stepping into the limelight as its interim CEO. Murati, 34, was elevated to the top position at the high-profile company Friday when OpenAI's board of directors ousted Sam Altman, the company's co-founder and CEO. The company said that Murati had a «unique skill set» and would provide «a seamless transition while it conducts a formal search for a permanent CEO.»

A federal appeals court in New Orleans says automaker Tesla did not infringe on its workers’ rights to unionize when it ordered employees at a California assembly plant to stop wearing T-shirts emblazoned with the United Auto Workers logo

Embattled Brisbane fast-charger company Tritium is in negotiations with Taiwanese electronics company Lite-On Technology Corporation for a key strategic stake to ensure its financial future.

By Abhirup Roy

Fallout from an Elon Musk post endorsing Anti-semitic views continues to spread, prompting a rebuke from the White House and criticism from Tesla Inc. investors as advertisers flee his social media platform, X.

By Ernest Scheyder

By David Shepardson and Nathan Gomes

Kia unveiled two new concept electric vehicles ahead of the Los Angeles Auto Show as the South Korean automaker looks to expand its electric model catalog in the United States. The company's EV3 is a compact electric SUV, while its EV4 is an electric sedan. Kia did not provide any other details on range, top speed and batteries used in the concept vehicles. The carmaker is also studying the market to develop electric vans sometime in the future, Steven Center, chief operating officer at Kia America, said.

₹13,546 crore amid festive season after the stock market ended on a higher note for second day straight.The RBI on Thursday tightened norms for personal loans and credit cards in the form of higher capital requirements. The new norms will make personal loans and credit cards costlier and may curb growth in these categories.Several reports in US on Thursday indicated a slowing economy.

Chargepoint Holdings Inc. (CHPT) crumbled over 20% after-hours Thursday after lowering guidance and announcing a new CEO.

NEW DELHI : Indian auto parts makers are emerging as preferred suppliers to Tesla Inc. as it diversifies away from China, two people familiar with the development said, with the US electric car giant often willing to pay a higher price for the shift. Tesla now sources a range of India-made components from small plastic parts and castings, to complex differential systems used in transmission, and wheel hubs.

By Abhirup Roy and Peter Henderson

By David Shepardson and Ben Klayman

Ferrari’s decision to allow U.S. residents to buy its cars in exchange for cryptocurrencies like Bitcoin (BTC) has become one of the biggest market wins in 2023, according to the CEO of the Bitcoin ATM operator CoinFlip.

electric vehicle industry that’s not struggling right now. The carmakers who’ve promised multi-billion-dollar plans to pivot to battery vehicles are being savaged by equity investors, with shares in General Motors Co. down 30% since the start of August and even perennial market darling Tesla Inc. falling 16%.

Santos chief executive Kevin Gallagher says the “shrill voices” of climate activists and politicians in affluent electorates will cost the country jobs and ultimately reduce living standards of average Australians if they succeed in blocking new gas projects.

By Joseph White