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BEIJING/FRANKFURT (Reuters) -Tesla has cut prices in a number of its major markets, including China and Germany, following price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against Chinese EVs. The price cuts come after Tesla, led by its billionaire CEO Elon Musk, reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years. "Tesla prices must change frequently in order to match production with demand," Musk posted on X on Sunday. Tesla, the EV market leader,...

Tesla shares extended declines Tuesday, pulling it close to the lowest levels since last spring, following the group's largest-ever job cuts, which have analysts and investors questioning the longer-term growth story of one of the market's most popular stocks. The Austin electric-vehicle group (TSLA) unveiled the layoffs in a companywide memo penned by Chief Executive Elon Musk, who told employees it was time to "streamline the company for the next phase of growth." "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...

Tesla is laying off more than 10% of its global workforce, equivalent to at least 14,000 roles, as the electric carmaker reacts to slowing demand and pressure on prices. The chief executive, Elon Musk, announced “the difficult decision” in a memo first reported by the online publication Elektrek. Tesla employs 140,473 people, according to its annual report.

In recent months Tesla has had a bumpy ride. In January the electric-vehicle (ev) pioneer warned that growth would be “notably lower” this year, as motorists’ enthusiasm for battery power loses charge. The same month it had to suspend most production at its giant factory near Berlin because of supply disruptions caused by turmoil in the Red Sea. Its market share in China, the world’s biggest ev market, is falling as it fends off cheaper local competition, especially from byd, which late last year briefly eclipsed Tesla as the world’s biggest ev-maker. Tesla hit another big pothole on April 2nd,...

Tesla (TSLA.O), opens new tab chief Elon Musk will visit India this month to meet Prime Minister Narendra Modi and is expected to make an announcement on plans to invest and open a new factory in the country, two sources with direct knowledge said.The billionaire will meet Modi in the week of April 22 in New Delhi, and will separately make an announcement about his India plans, said the two sources, who declined to be named as the trip details are confidential.Reuters is first to report details of Musk's planned India visit. Modi's office and Tesla did not respond to...

Tesla has unveiled plans for a new world’s largest Supercharger station, with an impressive 200 stalls in Yeehaw Junction, Florida. It was just over a month ago that we learned that Tesla planned a new world’s largest Supercharger station – a new 164-stall station in California. Now, Tesla is already planning to beat that and by a significant margin. Tesla has now filed for a new mega Supercharger station in Florida with an astonishing 200 stalls: Yeehaw Junction is located along 3 highways connecting south and central Florida as well as the coast. It makes the site strategically located for...

FSD Beta V12.3.3 (2024.3.10) – Tesla FSD V12.3.3 is rolling out to vehicles in North America, soon after v12.3.2.1 was released. This release changes the designation from "Beta" to "Supervised", which apparently means that it requires supervision, according to Tesla: "Under your supervision, Full Self-Driving (Supervised) can drive your Tesla almost anywhere."FSD Beta 12 upgrades the city-streets driving stack to a single end-to-end AI neural network trained on millions of video clips, replacing over 300k lines of code. Elon Musk said that Tesla's Full Self-Driving (FSD) version 12 will be released more broadly soon, but has only rolled out to...

For decades, scientists and inventors have flirted with the concept of a water engine, but their attempts often hit insurmountable roadblocks. However, Elon Musk, known for pushing the boundaries of technology, has provided a fascinating insight. His revelation might just revolutionize the transportation industry at all levels. But people are asking exciting questions. Is water a viable source of fuel? What other innovative solutions are available for transportation problems? Join us as we unravel how Elon Musk went public with the new engine that changes everything. Transcript Follow along using the transcript. Show transcript

Tesla's price CUTS in Australia follow the company's decision on April 3 to announced 0% financing for new orders of the Model 3 and Model Y in China. The incentive runs through the end of April and is Tesla's first interest-free promotion for China, the world's biggest EV market.Meanwhile, Tesla INCREASED its U.S. prices for all Model Y trims on April 1. Tesla RAISED prices on Europe Model Y vehicles on March 22. In China, Tesla also HIKED prices on its entire Model Y line by around $690 on April 1, even as some incentives expired.

Tesla has shockingly canceled the much-anticipated $27,000 car it was relying on to break into the mass market. The 'half price' EV was due to go into production starting next year and viewed by investors as a vital saving grace that could rescue the struggling automaker. Tesla will instead continue developing self-driving robotaxis, according to Reuters, which broke the news on Friday. In the minutes after the news broke, Tesla's share price fell more than 5 percent to just over $160. The company's stock is one of the worst performing in the S&P 500 this year. This week its share...

Tesla's quarterly deliveries declined for the first time in nearly four years and fell short of Wall Street analysts' estimates amid a challenging competitive landscape in the EV market and questions regarding the company's direction. The Elon Musk-led automaker's stock declined by 4.9% during Tuesday's trading session and slid a further 0.28% in after hours trading, with the stock down nearly 33% on the year. That followed Tesla's announcement that it delivered roughly 387,000 vehicles in the first quarter – well below expectations of about 443,000 and an 8.5% decrease compared to the first quarter of last year. "Let's call...

ARK Invest’s Cathie Wood reiterated her call that Tesla stock is worth $2,000 early Wednesday. It’s a huge number, but there is a problem. The number didn’t go up. Wood valued Tesla at $2,000 a share in April 2023. That target was up from her 2022 update valuing Tesla stock at about $1,500 a share. The lack of a 2024 target bump is one sign things aren’t going as well as hoped. Much of her value is tied up in a coming self-driving Robo taxi business. Achieving truly self-driving cars has been harder than expected, though. On the other end...

LOS ANGELES - FOX 11 anchor and reporter Susan Hirasuna didn’t anticipate she’d be the victim of a crime while during coverage for the station’s nightly newscast. On Thursday night, Hirasuna discovered her Tesla had been stolen and reported it missing. Later that evening, patrol officers with the Los Angeles Police Department spotted the vehicle and initiated a pursuit.

How much energy AI really needs. And why that's not its main problem. | 8:05Sabine Hossenfelder | 1.19M subscribers | 171,326 views | March 25, 2024

Business magnate Elon Musk asserted in a post on X that the U.S. will be "toast" if there is not a "red wave." "I voted 100% Dem until a few years ago. Now, I think we need a red wave or America is toast," Musk wrote. The term "red wave" refers to a dominant performance by Republicans during an election cycle.

Lucid said on Monday it is raising $1 billion in capital from an affiliate of Saudi Arabia’s Public Investment Fund (PIF), sending the shares of the luxury electric carmaker up about 8%. The latest investment by the sovereign wealth fund underscores a key advantage Lucid has in the race for survival among struggling EV startups. The Saudi government, which has a 60% stake, has invested billions in Lucid’s success as part of a strategy to diversify the Kingdom’s economy beyond oil. Ayar Third Investment Company, a PIF affiliate, will buy $1 billion in convertible preferred stock and will be able...

The Defense Advanced Research Projects Agency has set its sights on the Moon, recently choosing defense giant Northrop Grumman to work on concepts for building a lunar railroad network, according to the Debrief. The recent development is DARPA's latest announcement concerning their 10-year Lunar Architecture (LunA-10) Capability Study. The ultimate goal is to reportedly establish a human colony on the Moon and a "thriving lunar economy." DARPA published the following statement about the development: The 10-Year Lunar Architecture (LunA-10) will explore the rapid development of foundational technology concepts designed to move away from individual scientific efforts within isolated, self-sufficient systems...

Why even order a Cybertruck if you can't immediately flip it for twice what you paid?Even before deliveries of the Tesla Cybertruck began, the electric automaker made it clear that it would be a long time before it was produced in anything other than extremely limited quantities. That meant that if you were one of the few who had pulled yourself up by your bootstraps hard enough, you stood to make quite a bit of money auctioning yours off to the highest bidder. The latest failed attempt to do so, this time on Cars & Bids, has us worried, though....

Elon Musk’s Tesla has suffered another safety setback after a tenacious lithium-ion fire battery suddenly hit a Tesla EV driving on an Ohio highway which led to a three-hour closure of the northbound lanes of Route 255 in Bethalto, Illinois on Sunday. Thankfully, the driver and their passengers safely escaped the burning vehicle before it was too late. The Alton Telegraph reports that a Tesla electric vehicle caught fire while traveling northbound on Route 255 in Bethalto, Illinois on Sunday, prompting a major response from multiple fire departments and the Madison County Hazmat Team. The incident, which began around noon,...

Hertz Global Holdings Inc. is replacing its chief executive officer in the wake of a disastrous bet on electric vehicles that the company began unwinding in recent months. Stephen Scherr, who ran Hertz for just over two years after three decades at Goldman Sachs Group Inc., has decided to step down, the rental-car company said late Friday in a statement. It’s replacing him with Gil West, the former chief operating officer of General Motors Co.’s Cruise robotaxi unit. West also will join the board of directors on April 1, according to the statement, which confirmed an earlier Bloomberg report.