The Palo Alto-based electric carmaker was founded in 2003 by Elon Musk. Last year marked a watershed moment for Tesla when its market-capitalisation went up to $600 million dollars. As per Reuters, this made the EV maker more valuable than the five largest carmakers in the world combined. Most recently Tesla surpassed $1 trillion in market value on October 25 after landing its biggest-ever order from rental car company Hertz. The cheapest Model 3 sedan starts at about $44,000, making the Hertz order worth about $4.4 billion, if the entire order were for its mass-market sedan. Tesla accounts for about 2.5% of the S More
Ford shares were up 7.6% at $12.25 in afternoon trade, while Tesla shares rose 7.5% to $197.95.
The tie-up between the rivals makes Ford the first major automaker to embrace Tesla's proprietary charging standard, giving the automaker access to the biggest network of high-speed Superchargers in the United States.
The billionaire Twitter owner said the problems were due to “straining” servers because so many people were trying to listen to the audio-only event. But even at their highest, the number of listeners listed topped out at around 420,000, far from the millions of viewers that televised presidential announcements attract.
Tesla is "serious" about its plans to establish a manufacturing base in India, the country's deputy minister for technology told Reuters in an interview last week.
Tesla's website showed both rear-wheel drive Model Y vehicles and the long-range, all-wheel drive version of the Model 3 available for immediate delivery in British Columbia, with codes showing they were manufactured at Tesla's Gigafactory Shanghai.
Asked by Reuters whether the talks with Tesla included more than just making vehicles, Rajeev Chandrasekhar said "you don't talk about cars alone" when such discussions take place.
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The recent discussions represent a shift in stance for Tesla.
A top-level team from electric vehicle major Tesla is in India at a time when the carmaker is considering ways to diversify beyond China. According to reports, while this meeting is focused on discussing the local sourcing of EV components to expand Tesla’s supply chain, it may also lead to Tesla's potential entry into India for the domestic production of its vehicles. From China to Germany, Tesla has set up massive production units called gigafactories in these countries. How did the carmaker expand into THESE countries - and what’s stopping them from entering India right now? Watch to find out.
An Indian-American family in California survived plunging off a 250-foot cliff in their Tesla in January. Radiologist Dharmesh Patel was arrested on attempted murder and child abuse charges.
Tesla, which so far has a manufacturing presence in the US, China, and Germany, is considering to set up an additional manufacturing plant, with India being looked into as one of the possible locations, the sources told CNBC TV-18.
This visit could mark a turning point in the relationship between India and Tesla, as the EV maker is yet to establish a notable presence in the country.
At the company's annual shareholder meeting in Austin, Texas, Musk played down market rumors that he may step down as CEO of Tesla, touched upon two new mass-market models it is developing, and reaffirmed that deliveries of its long-delayed Cybertruck pickup would start this year.
News Updates Today: Senior Advocate Adish Aggarwala was on Wednesday elected the new president of the Supreme Court Bar Association (SCBA). Aggarwala defeated his nearest rival Senior Counsel Dushyant Dave. Aggarwala secured 668 votes as against Dave's 477.
Three judges on the 5th U.S. Circuit Court of Appeals in New Orleans, in a March ruling, upheld a National Labor Relations Board order that the tweet be deleted. The panel also upheld an order that a fired Tesla employee be rehired with back pay.
Elon Musk said it was "ironic" that as CEO of Tesla, he now owns Twitter. The social media platform is highly dependent on ads and will soon be led by advertising veteran Linda Yaccarino, who he hired last week.
The visit holds potential to create a thaw between Tesla and the Indian government, as Elon Musk had earlier criticised New Delhi over its EV policy and the "high taxes" imposed on the import of vehicles.
George Soros' family office, The Soros Fund Management, initially purchased 42,000 shares of Elon Musk's Tesla in 2022 and later increased their holdings to 132,000 shares.
Musk said the move would allow him to devote more time to the electric carmaker, but his commitments to other ventures such as a new AI startup remain a worry.
The discussions are expected to happen on Wednesday and Thursday, and will revolve around the possibility of local sourcing of components for Tesla's car models, as the company looks beyond China.
An undated public notice said the potential expansion would give the Shanghai Gigafactory the capacity to produce 1.75 million powertrain units annually, up from 1.25 million currently.
According to the email, Musk told executives to send him a list of hiring requests on a weekly basis, while also cautioning them to "think carefully" before submitting such requests.
The summary order by the 2nd U.S. Circuit Court of Appeals in Manhattan was released just days after a three-judge panel heard lawyers' arguments in the case.
The two companies are currently seeking ways to cooperate in the development of IT-related technologies, such as semiconductors for autonomous vehicles, Samsung added.
The action is described as a product recall under Chinese regulations, the regulator said, but it was not immediately clear if drivers might need, or would be eligible, to return vehicles to Tesla for refunds.