In an aerial view, brand new Tesla cars sit parked in a lot at the Tesla Fremont Factory on April 24, 2024 in Fremont, California. Justin Sullivan | Getty Images Former Tesla executive Drew Baglino, who announced his resignation earlier this month, sold shares in the electric vehicle company worth around $181.5 million, according to … Read more
A Xpeng G9 is displayed at a store in a mall in Beijing on Feb. 29, 2024. Wang Zhao | AFP | Getty Images BEIJING — Self-driving taxis won’t be a significant business for at least five years, Xpeng Vice Chairman and Co-President Brian Gu said Thursday. That prediction comes as Elon Musk has promoted … Read more
Pictured here is the Zeekr 001 electric car at a services trade fair in Beijing on Aug. 31, 2023. China News Service | China News Service | Getty Images BEIJING — Chinese electric car brand Zeekr is selling more vehicles than Tesla in parts of China, and plans to expand in Europe and Latin America … Read more
By just about every measure, Tesla’s first-quarter earnings report on Tuesday was dreary. The company missed estimates on the top and bottom lines. Revenue fell by 9% year over year, the worst decline since 2012. Auto sales dropped 13% from the same period in 2023. Free cash flow turned negative. But CEO Elon Musk downplayed most of that … Read more
Tesla is eliminating 3,332 jobs across the state of California, and 2,688 jobs in Austin, Texas, according to Worker Adjustment and Retraining Notification (WARN) Act letters and notices filed in both states. The layoffs are part of a broader restructuring that the electric vehicle maker announced last week. In 2021, Tesla CEO Elon Musk moved … Read more
Elon Musk, CEO of Tesla and owner of social media site X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, on June 16, 2023. Gonzalo Fuentes | Reuters Tesla reported a 9% drop in first-quarter revenue on Tuesday, the … Read more
The chief executive of Norway’s gigantic sovereign wealth fund on Tuesday said there is “clearly a lot of froth” in the tech sector, suggesting that whether there is too much of it could depend on this week’s tech earnings bonanza. U.S. tech behemoths including Tesla, Meta, Microsoft and Google parent Alphabet are all scheduled to … Read more
Tesla shares fell for a seventh straight day, reaching their lowest since January 2023, as further price cuts over the weekend added to mounting concerns heading into the company’s first-quarter earnings report Tuesday. The stock dropped 3.4% on Monday to close at $142.05, bringing its decline for the year to 43%, second worst among members … Read more
Pedestrians walking past a Tesla store in Shanghai, China, on March 14, 2024. CostFoto | Nurphoto | Getty Images Tesla shares sank 3% in premarket trading Monday, while China’s Li Auto plummeted to an 11-month low, after both companies slashed prices of their electric vehicles in various markets amid intense competition. U.S. EV giant Tesla … Read more
Vehicles sit parked outside the Tesla Inc. solar panel factory in Buffalo, New York, U.S., on Wednesday, Dec. 26, 2018. Andrew Harrer | Bloomberg | Getty Images Tesla is laying off 285 employees in the state of New York as part of a broader restructuring according to a WARN notice filed in the state. Most … Read more
