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Tesla Slashes Car Prices By Nearly $2,000 In China After US Price Cuts
Tesla has cut prices by nearly $2,000 across its models in China, after price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against cheaper Chinese EVs.
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Indian-Origin Vaibhav Taneja Named New Tesla CFO as Zachary Kirkhorn Steps Down
Tesla's finance chief Zachary Kirkhorn has stepped down after four years in the role, the world's most valuable automaker said and named accounting head Vaibhav Taneja in his place, sending shares down more than 3 percent on Monday. During his tenure, Tesla posted its first quarterly profit after it launched the mass-market Model 3 compact sedan.
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Tesla's Second-Quarter Profit Jumps 20 Percent as Price Cuts Lead to Record Car Sales
Tesla reported a jump in second-quarter profits Wednesday as a series of price cuts translated into sharply higher car sales. The EV manufacturer reported profits of $2.7 billion (roughly Rs. 22,156 crore), up 20 percent on the year-ago level. Revenues surged 47 percent to $24.9 billion (roughly Rs. 2,04,334 crore).
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Tesla Sees Record 466,140 Q2 Vehicle Deliveries Aided by Price Cuts as EV Maker Beats Estimates
Tesla beat analyst expectations in the second quarter, delivering 4,66,140 vehicles despite a difficult market. The nearly half million deliveries represent an 83 percent increase over the same period last year and a 10 percent rise from the previous quarter.
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Renault to Overhaul Software Architecture Ahead of Goal to Be on Par With Tesla by 2026
Renault on Monday outlined its plans to overhaul its software architecture for future vehicles to bring them on par with industry leader Tesla by 2026. The French carmaker is looking to include just 20 processors on board to operate its vehicles, down from the currently required 100 processors. It will also allow Renault to make updates remotely, w...
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Arnault's Wealth Soars To $210 Billion, Leaving Musk In The Dust
Bernard Arnault, the world's richest person, is solidifying his lead over second-ranked Elon Musk. The luxury tycoon is selling more expensive goods, while the Tesla Inc. founder cuts prices on electric vehicles.
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Used EV Sales Rise in the US Amid Fall in Prices: Report
Used electric vehicle sales in the United States rose 32 percent in the first three months of 2023 as prices fell, data provider Cox Automotive said on Friday. The group said the average retail listing prices for used EVs was around $43,400 (nearly Rs. 35 lakh), down 4 percent from the same quarter last year and significantly below the average new...
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EV Startup Lucid to Lay Off 1,300 Workers to Cut Costs, Will Incur Up to $30 Million in Related Charges
Electric-vehicle maker Lucid Group said on Tuesday it would lay off about 18 percent of its workforce, or around 1,300 employees, to cut costs as part of a restructuring plan.
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Elon Musk Says Tesla's Main Rival Is "Probably Some Company Out Of..."
Releasing financial results on Wednesday, Tesla said they showed recent deep price cuts were stimulating demand, and that the company is cutting costs with a view to growing through what Musk expects will be a recession this year.
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Tesla Cuts Prices In China, Other Asian Markets Amid Weaker Demand
Tesla cut prices in China for the second time in less than three months on Friday, fuelling forecasts of a wider price war amid weaker demand in the world's largest autos market.
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Tesla Said to Run Reduced Output in Shanghai Plant in January: Report
Tesla is said to run a reduced production schedule at its Shanghai plant in January, extending the reduced output it began this month into next year, according to a report. Tesla will reportedly run production for 17 days in January between January 3 to 19 and will stop electric vehicle output from January 20 to 31 for an extended break for Chinese...
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Tesla Semi Truck Delivered to PepsiCo After 3-Year Delay, Elon Musk Silent on Pricing, Availability
Tesla Semi, the company's first heavy-duty semi-truck was delivered to PepsiCo on Thursday, after a three-year delay. Elon Musk said in a presentation that the battery-powered, long-haul truck will cut down on highway emissions, beat existing diesel models on both safety and power, even as experts remain sceptical.
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Tesla Said to Plan Start for Mass Production of Cybertruck Pickup Truck by End of 2023
Tesla is said to have planned to start mass production of its much-awaited Tesla Cybertruck by the end of 2023. A gradual ramp in the second half of 2024 to full output for the sharp-angled electric truck would mean that Tesla would not be recording revenue until early 2024 for a full-quarter of production on the highly-anticipated pickup truck, wh...
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Elon Musk’s Tesla Held Nearly $2 Billion in Bitcoins by 2021-End, US SEC Filing Shows
Tesla has revealed that it held $1.5 billion (roughly Rs. 11,200 crore) in Bitcoins by the end of 2021. The company had incurred losses worth $101 million (roughly Rs. 755 crore) on its Bitcoin holdings due to the volatility-induced price cuts that the crypto asset suffered. Regardless, Tesla plans on keeping options around enabling crypto payments...
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Tesla Rides Sale of Cheaper EVs to Post Record Profits; Offers Muddy Outlook for Batteries, Cybertruck
Tesla posted a bigger second-quarter profit than expected thanks to higher sales of its less-expensive electric vehicles, as it raised vehicle prices and cut costs.
-
Tesla Slashes Car Prices By Nearly $2,000 In China After US Price Cuts
Tesla has cut prices by nearly $2,000 across its models in China, after price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against cheaper Chinese EVs.
-
Indian-Origin Vaibhav Taneja Named New Tesla CFO as Zachary Kirkhorn Steps Down
Tesla's finance chief Zachary Kirkhorn has stepped down after four years in the role, the world's most valuable automaker said and named accounting head Vaibhav Taneja in his place, sending shares down more than 3 percent on Monday. During his tenure, Tesla posted its first quarterly profit after it launched the mass-market Model 3 compact sedan.
-
Tesla's Second-Quarter Profit Jumps 20 Percent as Price Cuts Lead to Record Car Sales
Tesla reported a jump in second-quarter profits Wednesday as a series of price cuts translated into sharply higher car sales. The EV manufacturer reported profits of $2.7 billion (roughly Rs. 22,156 crore), up 20 percent on the year-ago level. Revenues surged 47 percent to $24.9 billion (roughly Rs. 2,04,334 crore).
-
Tesla Sees Record 466,140 Q2 Vehicle Deliveries Aided by Price Cuts as EV Maker Beats Estimates
Tesla beat analyst expectations in the second quarter, delivering 4,66,140 vehicles despite a difficult market. The nearly half million deliveries represent an 83 percent increase over the same period last year and a 10 percent rise from the previous quarter.
-
Renault to Overhaul Software Architecture Ahead of Goal to Be on Par With Tesla by 2026
Renault on Monday outlined its plans to overhaul its software architecture for future vehicles to bring them on par with industry leader Tesla by 2026. The French carmaker is looking to include just 20 processors on board to operate its vehicles, down from the currently required 100 processors. It will also allow Renault to make updates remotely, w...
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Arnault's Wealth Soars To $210 Billion, Leaving Musk In The Dust
Bernard Arnault, the world's richest person, is solidifying his lead over second-ranked Elon Musk. The luxury tycoon is selling more expensive goods, while the Tesla Inc. founder cuts prices on electric vehicles.
-
Used EV Sales Rise in the US Amid Fall in Prices: Report
Used electric vehicle sales in the United States rose 32 percent in the first three months of 2023 as prices fell, data provider Cox Automotive said on Friday. The group said the average retail listing prices for used EVs was around $43,400 (nearly Rs. 35 lakh), down 4 percent from the same quarter last year and significantly below the average new...
-
EV Startup Lucid to Lay Off 1,300 Workers to Cut Costs, Will Incur Up to $30 Million in Related Charges
Electric-vehicle maker Lucid Group said on Tuesday it would lay off about 18 percent of its workforce, or around 1,300 employees, to cut costs as part of a restructuring plan.
-
Elon Musk Says Tesla's Main Rival Is "Probably Some Company Out Of..."
Releasing financial results on Wednesday, Tesla said they showed recent deep price cuts were stimulating demand, and that the company is cutting costs with a view to growing through what Musk expects will be a recession this year.
-
Tesla Cuts Prices In China, Other Asian Markets Amid Weaker Demand
Tesla cut prices in China for the second time in less than three months on Friday, fuelling forecasts of a wider price war amid weaker demand in the world's largest autos market.
-
Tesla Said to Run Reduced Output in Shanghai Plant in January: Report
Tesla is said to run a reduced production schedule at its Shanghai plant in January, extending the reduced output it began this month into next year, according to a report. Tesla will reportedly run production for 17 days in January between January 3 to 19 and will stop electric vehicle output from January 20 to 31 for an extended break for Chinese...
-
Tesla Semi Truck Delivered to PepsiCo After 3-Year Delay, Elon Musk Silent on Pricing, Availability
Tesla Semi, the company's first heavy-duty semi-truck was delivered to PepsiCo on Thursday, after a three-year delay. Elon Musk said in a presentation that the battery-powered, long-haul truck will cut down on highway emissions, beat existing diesel models on both safety and power, even as experts remain sceptical.
-
Tesla Said to Plan Start for Mass Production of Cybertruck Pickup Truck by End of 2023
Tesla is said to have planned to start mass production of its much-awaited Tesla Cybertruck by the end of 2023. A gradual ramp in the second half of 2024 to full output for the sharp-angled electric truck would mean that Tesla would not be recording revenue until early 2024 for a full-quarter of production on the highly-anticipated pickup truck, wh...
-
Elon Musk’s Tesla Held Nearly $2 Billion in Bitcoins by 2021-End, US SEC Filing Shows
Tesla has revealed that it held $1.5 billion (roughly Rs. 11,200 crore) in Bitcoins by the end of 2021. The company had incurred losses worth $101 million (roughly Rs. 755 crore) on its Bitcoin holdings due to the volatility-induced price cuts that the crypto asset suffered. Regardless, Tesla plans on keeping options around enabling crypto payments...
-
Tesla Rides Sale of Cheaper EVs to Post Record Profits; Offers Muddy Outlook for Batteries, Cybertruck
Tesla posted a bigger second-quarter profit than expected thanks to higher sales of its less-expensive electric vehicles, as it raised vehicle prices and cut costs.
