Tesla Financial News

Elon Musk said in 2021 that Tesla would accept Bitcoin payments once miners were using roughly 50% clean energy sources “with positive future trend” — a benchmark that may have recently been met.

China is speeding ahead in the electric-vehicle race. Europe’s antisubsidy investigation into Chinese EV makers reflects this new reality, but tariffs alone aren’t enough to keep Europe’s automakers in the fast lane. The European Union has launched a probe into whether state subsidies have given Chinese EV makers an unfair leg up as they accelerate into European markets.

Volkswagen AG is cutting temporary workers at its main electric-vehicle factory in Germany after the phaseout of a subsidy in the country caused demand for its EVs to drop.

(Reuters) — Volkswagen (ETR:VOWG_p) is cutting back planned staffing at its all-electric plant in Zwickau, Germany and adjusting shift work due to «market conditions», a spokesperson said on Tuesday.

Tata Motors, India's biggest electric carmaker, is testing its electric vehicles in some global markets where it could look at a potential launch if the experiment succeeds, its managing director told Reuters. The tests are in early stages and based on how the cars perform, Tata may need to make some changes to the product before it can finalise and develop a «go to market» strategy, Shailesh Chandra said in an interview. «It is about which markets I should be in, with what products and with what kind of distribution strategy. We are assessing some markets, running our cars, discussing with business partners,» he said. Chandra said it was too early to discuss details of the export markets and there would be more clarity next year. Tata also plans to roll out new car dealerships over coming quarters in some Indian cities that will exclusively sell EVs as sales of its clean cars gain momentum and it lines up faster launches of new electric models, Chandra said. Sales of EVs globally have been growing as tighter emission regulations push carmakers to increase the share of electric cars in their portfolio.

TAIPEI (Reuters) — Taiwan is «not for sale», the island's foreign minister said in a stern rebuke to Elon Musk who asserted Taiwan was an integral part of China, as the billionaire again waded into the thorny issue of relations between Beijing and Taipei.

By Donny Kwok and Brenda Goh

European Union may have just sparked one of its biggest battles. With European officials fearing millions of auto jobs are at risk from China’s surging electric vehicle exports, the bloc’s executive arm on Wednesday launched an investigation into Beijing’s financial support for the EV industry. The probe, which could take up to nine months, will probably lead to new EU tariffs on Chinese EV imports and embroil major non-European automakers like Tesla Inc., which produce cars in China for export to the bloc. The move may lead to tariffs close to the 27.5% level already imposed by the US on Chinese EVs, according to a person familiar with the matter. The EU duties could vary depending on the producer, the person added, asking not to be identified as the discussions are private and no decision has been finalized. The bloc’s investigation, as well as aggressive moves by Washington to counter China, are part of a broader rethink by governments in developed economies to bring production closer to home, especially for key sectors like semiconductors, pharmaceuticals and heavy industries, which were disrupted during the Covid-19 pandemic. That drive to secure supply chains, combined with the tensions after Russia’s invasion of Ukraine, has resulted in a simultaneous rush to throw up trade barriers, triggering fears of a global economic fragmentation.Major Market If the EU does impose duties, that would curtail one of the last major markets for Chinese EV exports, and raises the prospect of a cascade of defensive moves in places like the UK to protect their markets being flooded by vehicles redirected from the EU. Shares of Chinese electric vehicle makers staged a mix performance Thursday with BYD Co Ltd.

shares of Chinese electric vehicle (EV) makers fell on Thursday after the European Commission launched an investigation into Chinese subsidies for EVs, escalating tensions between Beijing and the EU. European Commission President Ursula von der Leyen announced the investigation in her annual address to lawmakers on Wednesday, saying: "Global markets are now flooded with cheaper electric cars. And their price is kept artificially low by huge state subsidies."Hong Kong shares of market leader BYD fell more than 3%.

Nasdaq ended higher on Wednesday after data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. Megacap growth stocks Tesla, Meta Platforms, Microsoft and Amazon.com gained over 1% each.Apple dipped 1.2%, down for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged. The S&P 500 climbed 0.12% to end the session at 4,467.44 points. The Nasdaq gained 0.29% to 13,813.59 points, while the Dow Jones Industrial Average declined 0.20% to 34,575.53 points. The S&P 500 consumer discretionary index climbed 0.9%, lifted as Ford Motor rallied 1.5% on the vehicle maker's plans to double the production of its hybrid F-150 pickup trucks in 2024. Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years. Stickiness in services inflation has kept alive prospects of a November hike.

NEW DELHI : Electric vehicle maker Tesla is looking to source components worth around $1.9 billion from India this year, commerce and industry minister Piyush Goyal said on Wednesday. The minister said that going forward, demand for electric vehicles will increase and help the sector grow. “Tesla already last year bought $1 billion of components from I think all of you sitting here," he told members of the Automotive Component Manufacturers Association of India (ACMA).

The New Zealand Breakers – a privately owned National Basketball League team – are close to finalising their advisory bench as they prepare to test the appetite of potential buyers, with four bankers from Los Angeles to Sydney set to play key roles.

Indian commerce minister, Piyush Goyal revealed Wednesday that the country is in the process of drafting a new policy aimed at enticing electric vehicle (EV) manufacturers and fostering increased investment in the industry.

By Kanishka Singh

Senate Majority Leader Chuck Schumer has been talking for months about trying to pass bipartisan legislation that encourages the rapid development of artificial intelligence and mitigates its biggest risks

Tesla is looking to nearly double the value of components it sources from the country in the ongoing financial year, ahead of its much-awaited foray into the Indian market. Minister for commerce & industry Piyush Goyal said Tesla was looking to source $1.7-1.9 billion worth of auto parts from India this year, up from $ 1 billion in FY23. “Tesla already last year bought $1 billion of components I think…this year the target is $1.7 or 1.9 billion”, Goyal said at the 63rd Annual Convention of Automotive Component Manufacturers’ Association (ACMA). Goyal added going forward there will be a natural shift to electrification in the automobile industry driven by an economic story.

BERLIN (Reuters) -Volkswagen is looking at reducing staff at its plant in the eastern German city of Zwickau due to low demand for electric cars, the dpa news agency reported on Wednesday. .

By David Shepardson

Investing.com — U.S. futures traded marginally lower Wednesday, as investors cautiously awaited the release of consumer inflation data which could provide clues as to future Federal Reserve monetary policy.

Electric vehicle maker Tesla Inc plans to source components worth $1.7-$1.9 billion from India and has already sourced parts worth $1 billion, India's trade minister Piyush Goyal said at an auto conference .

Elon Musk. By Walter Isaacson. Simon & Schuster; 688 pages; $35 and £28 Judging by the umpteen biographies written about Elon Musk, the world’s richest man is also among its most intriguing.