Tesla Financial News

Vietnamese electric car maker VinFast said on Thursday its third-quarter revenues more than doubled as it ramps up deliveries and partnerships with U.S. dealers, and that it would set up a plant in India as part of its expansion drive. The company said in a filing to U.S. securities regulators that it made $343 million in revenues for the three months ended Sept. 30, up 159% on the same period last year. Its net loss widened 33.7% to $623 million, however, as it continued to rack up expenses.

(Reuters) -Luxury electric-vehicle maker Lucid Group (NASDAQ:LCID) on Thursday launched a cheaper, rear-wheel drive version of the Air Pure sedan starting at $77,400, as it looks to stoke demand.

(Reuters) — U.S. stock index futures fell on Thursday as investors awaited more data to gauge the strength of the labor market, while elevated Treasury yields still pointed to worries about high interest rates for a prolonged period.

The ASX says it will not allow Magnis Energy Technologies to trade on the exchange after auditors raised concerns about the company’s finances.

By Daniel Wiessner

A few years ago, the founder of Chinese automaker BYD was worried it might not survive. Now, the company is nipping at the heels of Tesla as the world’s No. 1 seller of electric vehicles.

Grimes, the mother of three of Elon Musk‘s children, has sued the billionaire businessman over parental rights, claiming he hasn’t let her see one of their two sons, multiple outlets are reporting.The Canadian singer, whose real name is Claire Boucher, has claimed Musk will not give her access to one of their children, according to documents filed in the Superior Court of San Francisco last week.The call to action aims to have the court name the legal parents of a child when they are not married.Though the docket for the case is public, the filings are sealed. It seems Musk has not yet responded to the petition.Grimes has not requested child support or custody rights, which are commonly filed with such a petition.

By Ankika Biswas and Shashwat Chauhan

Elon Musk, who purchased X (Twitter) last year, has been on a mission to turn the social media platform into an everything app and now he seems a step closer to achieving that goal. On Monday, Musk, the tech tycoon known for his ventures like Tesla and SpaceX, in a bid to test X's game streaming capability, live streamed on the platform to play Diablo IV, a popular video game. Without any prior announcement, he initiated a 52-minute stream on X, attracting a peak audience of 1,300 viewers and accumulating a total of 20,000 views. Creating a new X account under the alias @cyb3rgam3r420, Musk navigated a tier 69 dungeon in Diablo IV. This unannounced test marked X's foray into the competitive realm of game streaming, rivalling established platforms like Twitch.

Some analysts believe the upgrades could spark a rebound in deliveries in the fourth quarter by allowing Tesla to refresh its line-up with models that could compete better with offerings from U.S. rivals such as Ford and BYD in China. Deliveries of the updated and higher-priced Model 3 compact sedan are expected to start in the fourth quarter, while a Cybertruck launch event is also planned later this year. The electric-vehicle maker, which will report quarterly results on Oct.

Tesla shipped 435,059 cars globally in the third quarter, as factory downtime led to its first delivery decline in more than a year.

Tesla’s summertime deliveries of electric vehicles surged 27% from last year but still fell below analyst projections as Elon Musk’s car company navigated through softening customer demand as well as factory upgrades

Tesla missed market estimates for third-quarter deliveries on Monday as the automaker was forced to curb production due to planned factory shutdowns, sending its shares down 3.7% in trading before the bell. The electric-vehicle maker handed over 435,059 vehicles in the three months to Sept. 30, down nearly 7% from the preceding quarter.

Check out the companies making headlines before the bell:

SAN FRANCISCO (Reuters) — Electric-vehicle maker Rivian (NASDAQ:RIVN) Automotive on Monday reported third-quarter deliveries above analysts' estimates, as it ramped up production to meet a sustained demand for its pickup trucks and sport-utility vehicles (SUVs).

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SHANGHAI (Reuters) — U.S. automaker Tesla (NASDAQ:TSLA) on Sunday released an updated version of its Model Y in China, with minor changes to the vehicle's exterior and interior.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Nio denies reports of fundraising effort; and Tesla finds itself subject to EU probe.

Check out the companies making headlines in midday trading.

Shares of Tesla (NASDAQ:TSLA) are up in pre-market trading Friday despite estimates being cut by analysts from three different firms today.

By Brian Snyder