Web
Analytics
The news is by your side.

Tesla

Tesla shares drop on price cut, disappointing Model 3 deliveries

CALIFORNIA: Shares in Tesla Inc (TSLA.O) dropped as much as 9 percent on Wednesday on worries of future profitability, after the electric car maker cut U.S. prices for all its vehicles to offset lower green tax credits, while falling short on quarterly deliveries of its mass-market Model 3 sedan. Analysts questioned whether the $2,000 price cut on all models signaled lowered demand in the United States, and ultimately whether the move would undermine nascent profitability at the Silicon Valley automaker, which has never…

Tesla cuts Model 3 prices in China

BEIJING: Tesla Inc has slashed prices on its Model 3 electric car in China. According to the California-based electric carmaker’s Chinese website, prices of certain Model 3 cars were cut by up to 7.6 percent. The starting price for a Model 3 in China now is 499,000 yuan ($72,000). It was the third time in the last two months that Tesla has adjusted its prices in China. In November, the company cut the prices of its Model X and Model S cars by 12 to 26 percent. Tesla at the time said it was “absorbing a significant part of…

Tesla names board director to replace Musk

WASHINGTON: Tesla said it has appointed Robyn Denholm of the Australian telecoms company Telstra as board director after Elon Musk resigned from the post. The appointment of Denholm, who is Telstra's chief financial officer, is effective immediately but she will serve out her six-month notice period with her current employer, Tesla said in a statement late Wednesday. Denholm had already served as a member of the Tesla board since 2014. Musk resigned as Tesla chairman in October under an arrangement with US regulators…

Electric Mercedes opens German assault on Tesla

STOCKHOLM/PARIS: Mercedes-Benz is set to unveil its much-anticipated electric SUV on Tuesday, marking the start of a German onslaught against Tesla’s dominance of the fast-growing market for premium battery cars. Daimler-owned Mercedes, BMW and Volkswagen’s Audi and Porsche divisions are all gunning for the $52 billion Californian upstart, with early publicity efforts emulating its tech-industry halo. The market for upscale electric cars is Tesla’s to lose, with sales of its entry-level Model 3 sedan expected to reach…

Investors to get their say after Musk scuttles Tesla buyout

Investors on Monday will render their verdict on Tesla Chief Executive Elon Musk’s decision to abandon a proposed $72 billion buyout to take the luxury electric car maker private. Musk said in a blog post late on Friday that his decision to scuttle the proposed deal was motivated in part by existing Tesla shareholders who said they wanted the company to remain publicly-traded. The trading on Monday will be a test of how investors are taking the demise of the buyout plan, and their views on whether Musk, who owns about a…