Tesla still bearing brunt of Elon Musk’s Twitter adventure
Elon Musk dumped a further US$3.6bn worth of Tesla shares between Monday and Wednesday
Company
Tesla Inc
NASDAQ:TSLA
Tesla Inc designs, develops, manufactures, sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offer services related to its products. The company's segments include automotive, and energy generation and storage.
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Talon Metals' Tamarack asset continues to be strategic, undervalued nickel project in the US, says Stifel GMP
In November this year, the resource group revealed it had raised C$37 million via equity financing to advance Tamarack's exploration and development program
Tesla still has an overhang on its shares from CEO Elon Musk's takeover of Twitter, but demand is holding firm
Analysts at Wedbush said: "Any black eyes for Musk in the Street's view will be reflected in Tesla's stock and this speaks to Tesla's stock being down 26% since the Twitter deal officially closed in late October"
Investing in North America's 'Canadian Shield' is strong way to play the lithium, EV trend, says broker Stifel GMP
They believe the so-called 'Canadian Shield' encompassing Ontario and Québec are an "emerging cradle" of critical minerals in the North American battery metals space
Tesla recalls vehicles on mass for the third time in a month
Tesla is in the process of recalling over 321,000 vehicles over software issues, adding to 70,000 already recalled this month
UK government to start taxing electric vehicles
Electric vehicles will be subject to Vehicle Exercise Duty from April 2025, a policy which has already faced backlash
Elon Musk will find replacement for Twitter CEO role eventually
Elon Musk has confirmed that he will eventually find someone to replace him as Twitter boss
Elon Musk to appear in court over Tesla salary row
Elon Musk's recent spate on controversy will continue as he appears in court against Tesla investors
Tesla bull turns turtle after Musk sales 'does what bears have tried for years'
Boss Elon Musk has "tarnished the Tesla story" and is "starting to potentially impact the Tesla brand" with the ongoing Twitter train wreck"
UK electric vehicle sales rise but second hand car sales continue to fall
Hybrid electric vehicle sales also grew by 2.5% in the quarter, while plugin hybrid vehicle sales fell 5.8%
Tesla's Musk told to end "Twitter madness" by Wedbush analysts
In unusually forthright comments, analysts described the “Twitter circus show” as an “absolute debacle from all angles.”
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Elon Musk offloads nearly US$4bn worth of Tesla shares
Musk sold 19.5mln shares worth US$3.95bn following two earlier larger disposals
Tesla China price cuts ‘not unexpected’ say Canaccord analysts while reiterating ‘Buy’ rating
“We suspect these price cuts have been in the works for some time and do not think they are a response to incremental demand weakness over the last week or so,” the analysts wrote
Tesla cuts prices for its vehicles in China by up to 9% - report
The price cuts, posted in listings on the electric vehicle (EV) giant's China website on Monday, are the first by Tesla in China in 2022, and come after the automaker began offering limited incentives to buyers who opted for Tesla's insuran
Tesla shareholders urged to force company to link director pay to ESG factors
“The mood of investors is super-ready to support a resolution like ours,” said activist shareholder platform Tulipshare
Elon Musk expects recession to last 'until spring of 2024'
Its shares have plummeted 48% during 2022, including a 9% drop to a 16-month low on Thursday following its Q3 results, where revenues missed Wall Street expectations
BMW plans to invest $1.7bn to produce electric vehicles and batteries in the US
The German carmaker said the investment will include $1bn to prepare for production of EVs at its existing Spartanburg factory in South Carolina, and $700mln for a new high-voltage battery-assembly facility in nearby Woodruff in the state
Tesla Q3 results: Five things you may have missed including self-driving EVs
Delving deeper into the company's delivery growth targets, carbon credit sales, self-driving EV progress, market share and battery metals plans
Tesla stock falls as Q3 revenue misses street expectations
Operating income rose to $3.7 billion in the quarter but the company said profitability had been impacted by higher raw material, commodity, logistics and warranty costs together with a negative forex hit of $250 million
Tesla under pressure to prove itself, says broker
Tesla is releasing its third-quarter earnings statement after the Wall Street close today
Archive
iPhone maker Foxconn steps up EV manufacturing plans, hopes to add Tesla
The company is already making cars in Taiwan and the US for Yulon and Lordstown Motors
Tesla rival BYD flags huge quarterly profit jump as China sales surge
BYD estimated net profit for the July-September quarter to come in between 5.5 billion yuan and 5.9 billion yuan ($765 million to $820 million) - an increase of 333% to 365% from the same period a year earlier
Tesla prices, margins, deliveries and self-driving in headlights for Tuesday's earnings
Claims about the rollout of Full Self-Driving (FSD) software by year-end are likely to be softened, one analyst said
Tesla rival Polestar unveils a new $84,000 electric SUV in the US
The new model, called the Polestar 3, is a five-passenger EV that the company describes as a “performance SUV”
Nissan pushes partner Renault to sell down stake, may raise funds - report
Renault owns about 43% of Nissan, which wants its French ally to wind down the stake to 15%, drawing level with Nissan's share in the alliance partner
Tesla sees China-made sales hit record following Shanghai factory upgrade
Tesla delivered 83,135 China-made electric vehicles (EVs) in September, according to a report released on Sunday by the China Passenger Car Association (CPCA), Reuters said
Musk says Tesla will deliver first semi trucks ready for Christmas
The trucks have a 0-60 mph acceleration of 20 seconds and energy consumption of less than 2kWh per mile
Canaccord Genuity remains upbeat on Tesla after double dose of news
The broker reiterated its buy rating after quarter three delivery numbers and its artificial intelligence day
Elon Musk's Tesla Q3 production surges 40% but deliveries still below analyst expectations
The electric car maker made over 365,000 vehicles between July and September but failed to deliver 22,000 of them
Tesla to unveil humanoid Optimus robot at Friday's AI Day
There will also be updates on full self driving (FSD) and the Dojo supercomputer
Musk bids to overturn tweet approval mandate that is like “government-imposed muzzle”
A judge said the Twitter boss is arguing now “his company has become, in his estimation, all but invincible"
Is this the tipping point as Jaguar Land Rover goes big on electric cars
The speed at which the electric market is growing is evident and so too is the uptick in investments and production
Tesla hits a speedbump as it recalls nearly 1.1 million cars over windows that can pinch
Often recalls deal with mechanical issues related to nuts and bolts but this time it is concerns that a faulty closing window could pinch a passenger before it retracts
Tesla and other EV makers to save billions from Biden initiative, says broker
“The green-tidal wave shift to electric is fully upon us," Wedbush analysts noted, highlighting Tesla, Rivian, GM, and Ford as the big potential winners
Tesla sued by drivers over alleged false Autopilot, Full Self-Driving claims
The lawsuit filed in federal court in San Francisco seeks unspecified damages for people who since 2016 bought or leased Tesla vehicles with Autopilot, Enhanced Autopilot and Full Self-Driving features
Elon Musk, Jeff Bezos close to being overtaken by India's Gautam Adani in wealth stakes
Tesla's CEO and Amazon's founder remain the world's two richest men, but their positions are under threat
Tesla and meme stock AMC most popular across TikTok and Instagram
Apple comes third on the list, with 11.7mln views on TikTok with #AppleStock
Uber's London fleet to have 10,000 EVs from Moove
Using a rent-to-buy model, the African start-up provides access to brand new, zero-emission vehicles for a flat weekly fee
China's BYD Auto surpasses Tesla to become the world's top-selling EV manufacturer
BYD's global EV sales soared 61% year-over-year to reach 2.18mln units in the second quarter this year as more than 354,000 EVs were shipped, an increase of 266% year-over-year
Tesla policy requiring employees to wear plain black t-shirts overruled as 'unlawful'
National Labour Relations Board rules Tesla's black t-shirt policy obstructs union insignia
Archive
California to ban sales of petrol-only vehicles by 2035
A new set of clean-air regulations promulgated by California could be replicated across the United States, and have a direct impact on motoring
Tesla shares trade lower after stock split, and some analysts say they are still overvalued
'The core of an investment will always rest on the competitive position of the company, its financial strength, management acumen and then valuation'
Archive
Largest EV battery maker rebuilds profits in second quarter amid strong demand
CATL to build a US$7.6bn battery plant in Hungary, the largest in Europe
Tesla CEO Elon Musk says Full-Self Driving price to rise to US$15,000
The price hike comes as Tesla is making FSD more widely available to drivers
UK pushes back self-driving cars, unlocks funding for more research
The Department for Transport said it wants new legislation to allow for a wide rollout of self-driving vehicles by 2025, with £34mln of funding allocated for safety research to feed into new laws
Tesla's Musk sells US$6.9bn of stock to avoid a potential Twitter fire sale
The sale comes four months after Musk said he had no further plans to sell stock in the electric carmaker
Tesla production hit by Shanghai disruption but China EV sales surge
The China Passenger Car Association expects sales of electric vehicles to reach 6mln units in the country this year
Canaccord Genuity raises price target for Tesla following visit to Fremont manufacturing facility
Tesla shares were up about 5% at 11.45am on Monday, trading at about US$908 per share
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Why Elon Musk can dust off tabloid hysteria
When counting US$31bn of losses over seven months it is useful to retain some perspective.
Tesla investigated for workplace discrimination by federal agency
Tesla was also sued by the state of California earlier this year for alleged workplace discrimination
Archive
Tesla continues to cash in on carbon credits
Electric vehicle maker profits from gas-guzzling competitors
Tesla dumps Bitcoin but holds on to Dogecoin
Musk has had a mixed relationship with Bitcoin in the past
Tesla says no problems with supply but scepticism remains over production targets
On the prices of the company's cars, boss Elon Musk said: "We’ve raised our prices quite a few times. They’re frankly at embarrassing levels."
Tesla improves its bottom line in 2Q, beating estimates; Canaccord raises price target to US$815
Tesla produced 258,000 vehicles and delivered over 254,000 vehicles in 2Q, a drop of more than half from the 1Q’s total of 564,743 vehicles
Tesla to demo in-car gaming platform next month says Musk
In order to demonstrate the gaming capacity inside Tesla vehicles, some computing-demanding video games could likely be used
Archive
Tesla shares deemed overpriced ahead of earnings on Wednesday
Production rates slashed in China, Berlin and Texas
Hyundai unveils Ioniq 6 as a rival to Tesla's Model 3
Having set a goal of becoming a top-three EV provider in the US by 2025, the Korean automaker hopes its line-up will help it challenge Tesla for the EV market's crown
Tesla’s AI and Autopilot boss Andrej Karpathy quits
Elon Musk thanked Andrej Karpathy for his work at Tesla in a tweet
Tesla sales rebound sharply in China, revving recovery
The US e-vehicle company delivered 78,906 vehicles last month, more than double the 33,155 delivered last June, and up 145% month-over-month
Tesla's delivery dip forces rethink from some analysts
Supply chain issues at facilities in Texas and Germany also hurt production
Hardware & electrical equipment
Warren Buffett speeds past Elon Musk in electric vehicle race
The Shenzhen-based company sold 641,000 vehicles between January and June – a 300% increase compared with the same period last year
Tesla to pause production in China and Germany, reports
Tesla did not mention these plans in its latest production and delivery statements
German road traffic agency recalls 59,000 Tesla cars due to software error
The software glitch prevents the car from contacting first responders in an emergency, the KBA watchdog said
Tesla sued for racial abuse of Black workers
A judge last Monday whittled down a US$137mln October award to US$15mln, sparking a new trial - though the company has denied similar allegations in the past
Archive
Tesla targets more important than latest delivery figures, say broker
At the start of 2022, total global deliveries were expected to be in the region of 1.5mln-1.6mln
Tesla closes San Mateo facility in California, cutting 200 jobs
Workers at the San Mateo facility evaluated customer vehicle data related to the Autopilot driver-assistance system
Investments and investor services
Trusts pay out record dividends as interest in alternatives skyrockets
Investment trust dividends are on the rise as investors seek to diversify beyond stocks and shares
The hunt for ethical investments is now on
Searches for ethical investments rose by a third this year amid an 88% rise in alternative investment interest
Tesla factories are 'gigantic money furnaces burning billions of dollars' - Musk
Tesla’s next quarterly earnings are due in late July, and analyst have already been cutting forecasts
Tesla to cut salaried workforce by 10% over three months, says Musk
“Technically the layoff is only 3% of the total workforce,” boss Elon Musk said, as numbers of hourly workers will increase
Elon Musk tweets support for Dogecoin after billion dollar writ
Musk tweeted that Tesla and SpaceX already accept DOGE for a few items of merchandise
Are commodities price hikes really behind the rising costs at Tesla?
Electric vehicle batteries contain significant amounts of copper, cobalt, nickel, lithium and tin
Elon Musk sued for US$258bn on claims he ran 'crypto pyramid scheme'
Dogecoin’s value surged last year after regular tweets from Musk and other celebrities
Tesla out front in autonomous driving crash tally, US watchdog says
Auto and tech companies reported some 500 crashes involving advanced driver-assist systems since June 2021
UK govt ends plug-in electric car grants
The Department for Transport will now shift funding towards roadside public charging and supporting plug-in taxis, motorcycles, vans and trucks
YouTube scammers make £200,000 after fake Elon Musk streams
Tens of thousands of people tuned in to watch the YouTube videos, with some transferring crypto currencies to the hackers' wallets
US widens probe into Tesla auto-pilot cars
The investigation into the cars could result in a recall
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Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news.
Tesla chief Musk changes message on job cuts
Elon Musk backtracked on his earlier statement two days after he emailed Tesla employees about a 10% job cut
Dogecoin continues to rise after Elon Musk tweet
The price of the cryptocurrency rose again by 2.57% on intraday trading today following Musk's tweet on Friday
Tesla's exclusion from ESG index highlights the paradox of Musk's company
There is a lot more to ESG than just 'E' – the environmental element
Archive
Renault unveils hydrogen-powered electric vehicle with 800km range
A fuel cell vehicle possesses an electric motor but is powered by electricity produced via hydrogen
Musk lashes out after Tesla drops out of S&P 500 ESG index
Musk claimed Tesla was "doing more for the environment than any company ever"
Tesla's exclusion from ESG index is "ridiculous" says ARK Innovation boss Cathie Wood
Tesla may be doing well in the "E" part of "ESG" but it has fallen behind its peers in other parts of the ESG equation
Tesla postpones India entry plan due to import tariffs
The government of India is pressing Tesla to commit to local production before it will lower import tariffs, which can be as high as 100% for imported vehicles
Tesla recalls 130,000 US vehicles due to problems with their touch screen displays
The US National Highway Traffic Safety Administration said Tesla is to recall the cars because of an overheating issue that could lead to a malfunction in the central touchscreen
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Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Hardware & electrical equipment
Apple's 30% App Store fee is "10 times higher than it should be", says Musk
Musk raised his concerns in light of a complaint by European regulators that Apple was abusing its dominant position to stifle competition for its mobile payment system, Apple Pay
Twitter may begin charging commercial and government users, says Elon Musk
Fee-based subscriptions are not new for the platform, with its Twitter Blue concept offering access to premium features and app customisation for a small monthly fee
Elon Musk sells Tesla shares worth US$4bn after Twitter deal
Tesla's shares slumped this week over concerns the CEO would divest stock to fund Twitter's acquisition
Bill Gates has last laugh as Tesla's shares tumble
For the time being at least, Gates seems to have had the last laugh