Tesla reported a big drop in quarterly profits Tuesday amid an increasingly cutthroat electric vehicle market, but shares rallied as CEO Elon Musk pledged to accelerate plans for a more affordable EV.Tesla reported profits of $1.1 billion, down 55 percent from the year-ago quarter on revenues of $21.3 billion, down nine percent as the company described EV sales as "under pressure."But shares rocketed up more than 11 percent in after-hours trading after Tesla pledged to "accelerate" new more...
Tesla reported a big drop in quarterly profits Tuesday, pointing to elevated pressure on the electric vehicle market that has led to deep cost-cutting. But shares of Elon Musk's EV company rallied after Tesla signaled pledged to "accelerate" new more affordable autos -- something Wall Street analysts have been clamoring
Tesla’s been undergoing some major changes, and now we have a sense of why: The company says it is upending its product roadmap because of “pressure” on EV sales. The new and accelerated plan now includes “more affordable models” that the company claims will be launched next year. Or if Tesla CEO Elon Musk is […] © 2024 TechCrunch. All rights reserved. For personal use only.
Rebecca Tinucci, Tesla's senior director of EV charging, will be leaving the automaker. Being shown the door alongside Tinucci will be all 500 members of the team that reported to her, writes The Information.Read Entire Article
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.
Tesla (TSLA) reported first quarter results that missed analyst estimates on both the top and bottom lines. Adjusted earnings per share of $0.45 fell short of the $0.52 Wall Street was expecting. Revenue of $21.3 billion fell short of the estimated $22.3 billion. Operating income also missed, $1.17 billion versus the $1.53 billion estimate. However, the company said it plans to accelerate the launch of new models, including a more affordable one. Yahoo Finance's Julie Hyman and Jared Blikre are...
WhatsApp has introduced a new feature that allows users to schedule events directly within the app. Members can organize and notify others about the event, improving communication between administrators and members.
Elon Musk's new plan to use current product lines as the basis for new affordable vehicles - rather than springing for all-new models - follows the playbook of Tesla's old-school Detroit rivals, as some Tesla investors and analysts see it. The shift toward incremental improvement, mirroring a common strategy of Ford and General Motors, suggests the future of car-making that Musk has promised to disrupt may still look a lot like the past. Musk's new strategy followed an exclusive Reuters report...
Authorities on Thursday are expected to release body-worn camera footage from an officer-involved shooting last week, in which a 34-year-old fugitive was killed.
Virgin Voyages is finally bringing its adults-only cruises to the New York and Los Angeles markets. The 2-year-old cruise brand, which currently operates most of its North America sailings out of Miami, on Wednesday announced it would soon offer its first regular sailings from the giant coastal cities as well as Seattle. The trips will …
The Indiana State Police (ISP) is investigating after an officer-involved shooting with the New Haven Police Department (NHPD) at a mobile home park late Saturday.
Plans to expand Straiton Retail Park onto land behind the Asda store have been put before councillors for the first time. The application by Lansdowne Investment will see four new large commercial units built on the land at the popular retail park. Midlothian council’s planning committee heard the new premises may be home to retailers, but could also be food and drink or business premises. The meeting this week heard concerns about the access to the new buildings, which are proposed to be...