Tesla has ended discounts on inventory across its electric vehicle lineup — even as sales for EVs have flagged — as part of a larger and vague plan by CEO Elon Musk to “streamline the whole Tesla sales and delivery system.” “It has become complex and inefficient,” Musk wrote in a post on X, the […] © 2024 TechCrunch. All rights reserved. For personal use only.
Tesla shares surged 12% on Wednesday after CEO Elon Musk said the company plans to produce new affordable EV models by early 2025.
Delaware court in nullified compensation deal based on carmaker’s market value in January, calling it ‘unfathomable sum’Tesla on Wednesday asked its shareholders to once again approve CEO Elon Musk‘s record-breaking $56bn pay that was set in 2018. A Delaware judge rejected the pay package in January, calling it excessive and saying the company’s board failed to justify it.The compensation includes no salary or cash bonus, but sets rewards based on Tesla’s market value rising to as much as $650bn...
Tesla will lay off more than 10% of its global workforce, according to a memo sent to employees by CEO Elon Musk. The company’s shares closed down more than 5% on Monday. “As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost […]
The company's stock was down 3% in morning trading. “As we prepare the
Musk’s announcement was aimed at calming nervous investors on Wall Street who were still trying to digest the company’s most recent earnings report.
The proposals come amid a difficult stretch for Tesla, whose shares have fallen 37% so far in 2024.
Tesla’s rocky year — plagued by price cuts, recalls and layoffs — continued Monday as shares of Elon Musk’s electric vehicle company dropped more than 3% ahead of Tuesday’s much-anticipated quarterly earnings. Tesla stock fell for the seventh straight day, closing at $142.05, its lowest price since closing at $133.42 on Jan. 20, 2023. Since
Elon Musk has reportedly indicated that Tesla will slash more than 10% of its workers."Over the years, we have grown rapidly with multiple factories scaling around the globe. With this rapid growth there has been duplication of roles and job functions in certain areas. As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity," Musk noted in a message to employees, according to CNBC....
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
In the first quarter of 2024, the two biggest manufacturers of electronic vehicles, Tesla and its Chinese rival BYD reports dramatic sales drops compared against the same time last year.
Elon Musk may be living on borrowed time as CEO of Tesla, as the Cybertruck stalls and the stock falls. Why price cuts won't help.