Tesla (TSLA) shares fell 2.7% on Tuesday to their lowest closing level in nearly a year. Shares are now down 8.3% to open the week after the company announced a “more than 10%” staff reduction early Monday. The continued stock slide for the EV maker follows new revelations of deeper cuts to certain divisions in
Tesla (TSLA) has announced a large reduction in staff on the heels of a disappointing Q1 delivery report, following in the footsteps of legacy automakers and pure-play EV makers, per an internal memo. As first reported by EV blog Electrek, CEO Elon Musk emailed staff confirming a “more than 10%” headcount reduction following prior reports
(Bloomberg) — Tesla Inc. Chief Executive Officer Elon Musk is set to visit India and meet with Prime Minister Narendra Modi, sparking speculation about the US company’s investments in the South Asian nation just ahead of the start of national elections. Most Read from Bloomberg Musk is expected to visit India this month, the Economic
Tesla (TSLA) stock closed up nearly 5% on Monday as investors bought into CEO Elon Musk’s latest proclamation that Tesla would debut its long-awaited robotaxi on Aug. 8. Musk’s announcement of Tesla’s Robotaxi after the bell on Friday followed a Reuters report that Tesla had canceled plans to build a long-awaited sub-$30,000 EV, which some
(Bloomberg) — When Elon Musk announced he’ll unveil a Tesla Inc. robotaxi in August, it was a clear attempt to arrest a spiral for the once high-flying carmaker. Most Read from Bloomberg Tesla shares already had been sinking before the company reported anemic quarterly delivery figures on April 2. Days later, Reuters reported the automaker
Investors tied to Elon Musk are reportedly planning a $3 billion funding round for xAI. This round would value the artificial intelligence (AI) firm at $18 billion, The Wall Street Journal (WSJ) reported Friday (April 5), citing sources familiar with the matter. Sources told WSJ that venture capital company Gigafund and Steve Jurvetson, a prominent Musk backer
President Biden wants to raise taxes on Elon Musk, Jeff Bezos, and their cohort of Americans, who are amassing extraordinary wealth that is not taxable under current law. Biden says his plan would make the system more fair — but experts say it lacks practicality. The president wants to impose a minimum 25% tax on
Elon Musk defended his prescription for ketamine, saying his usage of the drug helps him alleviate a “negative chemical mind state” that his usage benefits investors in Tesla, the electric car maker he leads as CEO. Musk made the comments in an hour-long interview with former CNN host Don Lemon, who posted the sometimes contentious
Elon Musk has once again stirred up the cryptocurrency market by suggesting that dogecoin (DOGE) should be accepted as a payment method for Tesla vehicles. Dogecoin saw a 15% increase in value Thursday morning (March 14), after Musk made his remarks, Yahoo! Finance reported Thursday. Musk, a long-time supporter of dogecoin, first expressed his interest in the
This week’s Current Climate, which every Monday brings you the latest news about the business of sustainability. Sign up to get it in your inbox every week. getty Our insatiable appetite for web-based services and streaming platforms has required the construction of ever more powerful data centers, all of which need more and more electricity