tesla
Xpeng Motors, a key player in the electric vehicle (EV) market, recently released its Q2 earnings report, and the results have left investors disappointed. The company’s stock dropped by 6%, reflecting growing concerns about its prospects. Despite some growth, the report raises more questions than it answers, leaving investors wondering if a turnaround is still possible or if it’s time to move on. Xpeng reported $564.2 million in revenue for Q2, a 12% year-over-year increase, but this figure fell short of analysts’ expectations. While the company managed to post a loss per share of $0.25, whic...
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Tesla has silently stopped taking orders for the cheapest version of the Cybertruck. Customers can now only book the $99,990 variant and the $119,990 variant. The news comes as a major blow to Elon Musk’s plans to produce 200,000 units of the Cybertruck annually. In 2019, Musk claimed a $40,000 Cybertruck will soon hit the market and will be able to travel 500 miles on a single charge. It took him 4 years to deliver the first Cybertruck. Problems scaling up due to the unique designMerely a year after the first delivery, the company continues to have problems scaling up due to the unique design...
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Tesla is recalling over 1.8 million vehicles in the United States due to a potential software failure that may prevent the detection of an unlatched hood, posing a significant safety risk. The National Highway Traffic Safety Administration (NHTSA) announced the recall on Tuesday, highlighting the importance of maintaining rigorous safety standards in the automotive industry. The recall affects 2021-2024 Model 3, 2021-2024 Model S, 2021-2024 Model X, and 2020-2024 Model Y vehicles. This marks Tesla’s fourth recall this year, underscoring the challenges even leading technology companies face in ...
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Tesla chief executive Elon Musk announced his intention to seek board approval to invest $5 billion in his artificial intelligence start-up, xAI. The potential investment would further integrate Musk’s extensive network of technology companies, emphasizing Tesla’s strategic shift towards AI and robotics. Public support for xAI investmentOn Tuesday, Musk took to his social media platform X (formerly Twitter) to gauge public opinion on the potential investment. He posted a poll asking, “Should Tesla invest $5B into @xAI, assuming the valuation is set by several credible outside investors? (Board...
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Elon Musk, renowned for his transformative impact on Tesla and space exploration, faces mounting scrutiny regarding his role as CEO of Tesla Inc. (NASDAQ: TSLA). Despite his extraordinary achievements, including revolutionizing electric vehicles and advancing space travel, recent developments suggest that his leadership may be stretched too thin. Here are three reasons why some argue it might be time for Musk to step down from his role as Tesla’s CEO. Personal challenges affecting leadershipElon Musk’s personal life has been a topic of public interest and scrutiny, with recent events raising c...
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Elon Musk has announced that Tesla’s highly anticipated humanoid robots will now be launched in 2025, a delay from the previously promised 2024. This postponement follows a similar delay for Tesla’s Robotaxi, which was pushed back by two months from its original August launch date. Both delays have sparked concerns among investors about the company’s ability to deliver on its ambitious promises. Extended timelines and investor uncertaintyMusk’s recent update on X (formerly Twitter) revealed that the humanoid robots, initially slated for internal use this year, will now be rolled out in 2025. T...
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Tesla Inc is set to release its financial results for the second quarter of 2024 after the market closes on Tuesday, July 23. Wall Street anticipates a mixed performance, with significant year-over-year declines in earnings but modest revenue growth. This earnings preview delves into the expected results, key metrics, and strategic challenges facing the electric vehicle (EV) giant. Tesla’s decline in earnings per share and net incomeTesla is projected to report earnings per share (EPS) of $0.62 for Q2 2024, a notable decline from $0.91 in the same period last year. This represents a more than ...
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Tesla is ramping up its workforce with 800 new hires, focusing heavily on AI and robotics. This significant hiring spree follows recent layoffs, suggesting a strategic pivot rather than a simple expansion. Recently, Tesla announced a 10% reduction in its global workforce, leading to thousands of job losses. This decision was primarily attributed to lower delivery numbers and a strategic shift in focus. Tesla’s current hiring spree contrasts sharply with these layoffs, indicating a deliberate move toward bolstering its AI and robotics capabilities. Beyond electric vehiclesTesla has long touted ...
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Billionaire Elon Musk, known for his ventures in electric cars, space exploration, and social media, has reportedly made a significant donation to a political group supporting presidential candidate Donald Trump. This news, first reported by Bloomberg, suggests that Musk’s financial involvement in the 2024 election could influence the political landscape in unexpected ways. Unconfirmed sizable donation to America PACAccording to Bloomberg’s sources, the exact amount Musk donated remains undisclosed but is described as “sizable.” The recipient, America PAC, is a political action committee that ...
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Tesla Inc. (NASDAQ: TSLA) is grappling with investor uncertainties as UBS downgrades its stock to Sell, citing valuation concerns amidst setbacks in its ambitious autonomous driving initiatives. The latest move by UBS comes amid a volatile period for Tesla, marked by fluctuating analyst opinions and upcoming earnings expectations. Analyst downgrade and market responseUBS analyst Joseph Spak’s downgrade of Tesla from Neutral to Sell, accompanied by a price target of $197, underscores growing skepticism about Tesla’s high valuation. The stock plummeted 8% recently following news of a delay in Te...
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