Tesla shares surged 12% on Wednesday after CEO Elon Musk said the company plans to produce new affordable EV models by early 2025.
The Musk-led firm’s revenue fell in the first quarter as it handed over fewer electric vehicles to customers due to slowing demand and intense competition worldwide.
Earnings miss notwithstanding, momentum continued to build for Tesla's stock, which was rallying 11% in after hours trading. That's in large part because the EV maker said it plans on adding to its lineup and marketing a cheaper EV as early as next year, while investing in robotaxis as well. These
CarMax's Spring 2024 Electric Vehicle Consumer Report has revealed that
Tesla Inc. and SpaceX Chief Executive Officer (CEO) and X Corp. Chairman Elon Musk is seeking to prolong the recent wave of layoffs at the former company, The Information reported on Tuesday.The firin
Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a U.S. media report.Elon Musk's EV company, which moved earlier this month to cut more than 10 percent of its 140,000 employees, will disband two departments and lay off most of the employees from the groups, reported the Information late Monday.The online technology publication quoted from a Musk email in which he vowed to be "absolutely...
Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a US media report.Tesla last week reported a 55 percent drop in quarterly earnings to $1.1 billion, reflecting a decline in EV sales in a market with intensifying competition.
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A reported deal with Chinese search giant Baidu will help pave the way for a rollout of Tesla's self-driving technology.
As Tesla faces a drop in sales and reports of mass layoffs, it appears Musk is turning to China in a bid to reverse the company's fortunes. : Musk visits China to reportedly push Tesla self-driving tech
Tesla CEO Elon Musk says Tesla plans to build “affordable models” that incorporate pieces of a next-generation platform on the production lines in the company’s existing factories in China, Germany, California and Texas.
Tesla CEO Elon Musk declines to provide details of the new vehicles but say they would include more-affordable models that would start production by early 2025