TESLA PROBLEMS
Tesla deliveries set to fall for second straight quarter
The company is expected to deliver 438,019 vehicles for the April to June period, according to an average estimate based on forecasts from 12 analysts polled by LSEG, seven of whom slashed their expectations in the past three months. The EV maker is expected to announce the results on Tuesday.
Does Elon Musk have 12 kids? Here's what we know about the Tesla CEO's mega family
Recent reports have suggested that Elon Musk has a third 'secret child' with Neuralink executive Shivon Zilis this year itself. As the details around this reports went viral, Elon Musk confirmed these rumors saying that this was no secret and that his friends and family already knew. It was surprising for the Tesla CEO that the issue was purported to be a secret, according to reports.
Elon Musk wins back his huge Tesla payday in shareholder vote
Tesla shareholders voted to reinstate CEO Elon Musk's $44.9 billion pay package, previously rejected by a Delaware judge. The package remains tied up in court as Tesla appeals the decision.
Elon Musk's new problem: Unsold Tesla cars overcrowds parking, satellite imagery shows
Elon Musk's Tesla is currently in a bottleneck situation with its unsold cars situation. According to the recent satellite images revealed, Tesla's car models are simply crowding up the entire parking lot for unsold cars and there seems to be no remedy around it, say reports. This looks like a fresh issue for the business tycoon and his company amid a power struggle within the internal organization.
Thefts of charging cables pose yet another obstacle to appeal of electric vehicles
Thieves targeting EV charging stations in cities like Seattle to steal copper wiring pose challenges for major automakers, charging companies, and EV owners. The thefts have led to increased security measures and collaboration with authorities to address the issue.
India seen to emerge as an economic superpower in impending problem-ridden global financial landscape
Global recession risks have diminished, but inflation concerns threaten financial stability. The IMF, World Bank, and rating agencies forecast a slowdown in global growth, citing Middle East conflicts, financial stress, persistent inflation, and reduced international trade as key risks. The IMF's Global Debt Monitor reveals global debt at $235 trillion, or 238% of global GDP, raising fears of a debt crisis. Fiscal prudence may suffer as many nations face elections this year.
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Group of Tesla shareholders ask investors to vote against Elon Musk's compensation package
A group of Tesla shareholders, including New York City Comptroller Brad Lander and SOC Investment Group, oppose a $40B pay package for CEO Elon Musk, citing falling global sales and stock prices. Concerns include lawsuits, Musk's part-time focus, and potential excessive future awards.
Elon Musk arrives in Indonesia's Bali to launch Starlink satellite internet service
Elon Musk launched Starlink in Bali with President Joko Widodo and Luhut Binsar Pandjaitan, signing agreements for internet services. He also participated in the World Water Forum. Notable visits by Tim Cook and Satya Nadella for investment in Indonesia.
Tesla doing damage-control, discounts for European fleet buyers
Tesla faces challenges in Europe as repeated price cuts hurt leasing companies' fleets and slow service alienates corporate customers. Tesla is offering unofficial discounts and addressing service complaints, but struggles with falling resale values and competition from Chinese and legacy automakers. Fleet customers demand better service and lower repair costs.
Mother set of Multibaggers: Evolution of EV ecosystem and emergence of new winners from auto ancillary space
Whether it's institutional or retail investors, the desire to find the next multibagger is always high. But it is not easy to find multibagger stocks for multiple reasons. In the last 30 yearsonly two or three sectors have thrown up multibaggers -- IT, pharma and some engineering or industrial segments. Now the auto and auto ancillary sectors are transforming. From next Sunday onward, we take a deep dive into individual auto ancillary companies which have either transformed due to EV space or are changing themselves or will go down as they are not relevant in new age of EV.
Stellantis considering India manufacturing of affordable EVs
The group, which owns several brands including Chrysler, Citroën, Fiat and Jeep, is considering locally manufacturing affordable electric vehicles from its Chinese joint venture partner Leapmotor at its facility in Thiruvallur, Tamil Nadu.
Small, well-built Chinese EV called the Seagull poses a big threat to the US auto industry
The Seagull, a low-priced electric car by BYD, poses a threat to American automakers. Chinese EVs face tariffs in the U.S., prompting concerns about the impact on the auto industry and the need for adaptation and competition.
Best crypto to invest in May 2024
A diversified portfolio could mitigate risk in anticipation of May 2024's market conditions. This guide explores a range of cryptocurrencies, including established leaders like Bitcoin and Ethereum, as well as promising projects across various sectors.
Tesla retreats from next-generation 'gigacasting' manufacturing process
Tesla, amid falling sales and increasing competition, has abandoned plans for an innovative one-piece gigacasting manufacturing process. Initially aiming to revolutionize manufacturing and reduce costs, Tesla has opted for its more traditional three-piece method for vehicle underbodies. The decision underscores Tesla's strategic pivot towards self-driving technology over massive EV sales growth, reflecting recent layoffs and executive departures. This shift also comes after the cancellation of the Model 2 and signals a more conservative approach to production innovation.
China's electric cars keep improving, a worry for rivals elsewhere
Chinese automakers are leading in electric car innovation, introducing larger, technologically advanced models. With plans to launch 71 new battery electric models, features include taller hoods, bigger tires, and spacious interiors. China's advancements in self-driving technology and battery efficiency are reshaping the global automotive landscape, challenging traditional manufacturers.
Tesla's profit fell 55%, adding to concerns about its strategy
Tesla's Q1 profit plummeted 55% to $1.1B, revenue down 9% to $21.3B. Layoffs of 14,000 employees amid 8.5% sales drop. Musk focuses on autonomous driving, Robotaxi, as share price surged in extended trading.
Tesla earnings a 'moment of truth' for Elon Musk after stumbles
Tesla CEO Musk faces heightened pressure with Tuesday's earnings report to reassure investors that recent stumbles are simply unexpected speed bumps -- and not indications of a road to decline. Tuesday's earnings and conference call are a "moment of truth" for Tesla and Musk, constituting "one of the most important moments in the company's history in our view," said a note from Wedbush.
Elon Musk and India -- who needs who more? Here are some pointers
Tesla and India can tango productively, and the latter could well offer the best anchor to make batteries and export them to the world. These would both create much-needed jobs, as well as lead to a platform play for renewables and EVs in India.
Warning signs for Tesla in US as EVs surge
Tesla facing layoffs, sales decline, and executive exits. Competitors thriving, Musk's focus divided. Global EV sales increasing with supportive policies. The electric vehicle market evolving despite Tesla's challenges.
Tesla’s value declines below $500 billion as risks pile up
The company’s troubles started in October when it warned that demand for EVs was starting to slow, but the full extent of that weakness only became apparent this month when Tesla reported first-quarter sales significantly below analysts’ expectations.
Sour grapes? China thinks Tesla's India biz will be doomed
China has expressed disapproval of Elon Musk's plan to open a Tesla factory in India. The Global Times has predicted challenges for Tesla in the immature Indian market, recommending India to partner with Chinese companies for EV manufacturing.
Beyond Tesla, what is Elon Musk's next big India ambition?
Elon Musk's visit to India involves discussions on Tesla and Starlink. The competition in India's satcom sector includes major players like Mukesh Ambani's Reliance Jio, Luxembourg's SES, and Amazon's Project Kuiper. The space economy in India shows significant growth potential. Approvals to Elon Musk-owned Starlink for starting satcom services in India are stuck with the communications ministry seeking clarity from the Department for Promotion of Industry & Internal Trade (DPIIT) about mandatory ownership disclosure rules
Tesla’s market story is all about growth. That’s now in question
Tesla's stock faces challenges as sales disappoint and growth falters. Concerns over future earnings potential impact its value. The company's stock struggles, with uncertainty around its next growth phase and competition in the EV market. Tesla sold about 387,000 cars in the first quarter, while analysts on average thought that number would be around 449,000. Obviously, profit estimates for the quarter will now have to be cut, after already dropping by more than half in a year.
Tesla's Sales Drop: A sign that its grip on the EV market is slipping
Tesla faced a sharp decline in quarterly sales, sparking concerns about Elon Musk's leadership as competitors like BYD, Kia, and Hyundai saw increases in electric vehicle sales. The market is shifting, with mainstream buyers possibly put off by Tesla's unconventional design and service issues. The company must address challenges to regain momentum.
Tesla’s $350 billion stock slump shreds investor expectations
Reasons for the shares’ dismal run this year — down 28% compared to a 10% advance in the S&P 500 Index — are many. However, the biggest cloud looming over the EV giant is the slowdown in the demand for electric vehicles, which is happening just as competition from legacy carmakers and Chinese rivals is heating up.
View: India dealing with a British legacy problem for 200 years
India's managing agencies, a system for separating control from ownership, were outlawed in 1970. However, the vestiges of this old system continue to thrive in the form of company promoters who exercise control over boards. Promoters, typically founders, are named in annual returns and are required to hold at least 20% of the post-public-issue capital. Problematic promoters, such as Subhash Chandra and Shivinder Singh, have caused losses for their companies. To protect public shareholders, a novel idea is to outsource governance to board service providers.
Tesla recalls over 1.6 million imported vehicles for problems with automatic steering, door latches
Tesla is initiating a comprehensive recall of 1.62 million vehicles in China, encompassing models S, X, 3, and Y, as stated by the China State Administration for Market Regulation on Friday.
No one wants used EVs, making new ones a tougher sell too
Part of the problem is that the industry is handling secondhand EVs for the first time. While combustion-engine cars can be quickly valued via their age and mileage, there are no tests in widespread use that determine the quality of a battery.
Austin, we have a problem! Tesla descends into battery hell
Tesla is still a long way off the production pace of its Cybertruck, and one of the main bottlenecks is the speed it can make the 4680 batteries used in the Cybertruck with its new dry-coating technology.
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