Proxy adviser Institutional Shareholder Services Inc (ISS) has urged Tesla Inc shareholders to vote against the re-election of chairwoman Robyn Denholm at the electric automaker’s annual meeting next month. The firm expressed concerns regarding Denholm’s leadership, mentioning consecutive years of high compensation for directors, without a reasonable rationale, and a steep increase in share pledging […]
Tesla
Tesla signs three-year pricing deal with Panasonic
Tesla Inc has signed a three-year pricing deal with Japanese company Panasonic associating with the manufacture and supply of lithium-ion battery cells at the Gigafactory located in Nevada, the electric automaker disclosed in a filing on Tuesday. Tesla and Panasonic have been in talks to expand the battery joint venture’s capacity. Panasonic hinted in May […]
Tesla reportedly negotiating incentives for Texas auto assembly plant
Electric automaker Tesla Inc is negotiating possible incentives with a Texas county that could make way for a new auto assembly plant to the region near Austin, the state capital, the Austin American-Statesman reported on Monday. Travis County Commissioners Court is set to talk about the terms of the deal on Tuesday, the paper reported, […]
Tesla Model Y experiencing production challenges, says Elon Musk
Tesla CEO Elon Musk has confirmed in a leaked email sent to company workers that there is an urgent need to address production related challenges of electric car Model Y and it is top priority for the automaker. “It is extremely important for us to ramp up Model Y production and minimize rectification needs. I want you to know that […]
Volkswagen CEO praises Musk’s SpaceX success to motivate top executives
Volkswagen CEO Herbert Diess evoked the historic rocket launch by rival electric automaker Tesla’s CEO Elon Musk to motivate top executives at the automaker as they seek to overcome the auto industry’s biggest market decline in decades, people familiar with the matter said. Musk’s Space Exploration Technologies has become the first private company to launch humans into […]
California officials reject Musk’s SpaceX request for subsidies
A California state panel on Friday declined a request from Elon Musk’s SpaceX for $655,500 in state job and training funds, mentioning the chief executive’s recent threats to shift Tesla, the electric automaker that he also runs, out of the state. The rebuff comes as Musk has sparred with officials in Alameda County because of […]
Tesla, California county reach deal to resume plant next week
Tesla Inc and officials in California have resolved their conflict over safety procedures at the automaker’s only U.S. assembly plant with a deal that permits production to restart as early as Monday, county officials stated. The county said the automaker could take extra steps ahead of next week after CEO Elon Musk had pledged to […]
Dispute over resuming Tesla’s California factory may be ending
It seems that the dispute between Tesla and San Francisco Bay Area officials over the restarting of a factory in the face of shutdown orders is close to an end. The Alameda County Public Health Department wrote on Twitter early Wednesday that the Fremont, California, plant will be able to go beyond general operations this […]
Trump wants California to allow Tesla reopen assembly plant
U.S. President Donald Trump on Tuesday asked that electric automaker Tesla Inc should be allowed to resume its electric vehicle assembly plant in California, joining the automaker’s CEO Elon Musk’s bid to defy county officials that have ordered the plant to remain closed. “California should let Tesla & @elonmusk open the plant, NOW. It can […]
Elon Musk says ready for arrest as the plant reopens in California
Tesla Chief Executive Elon Musk on Monday stated production was restarting at the automaker’s only U.S. vehicle factory, in California, defying an order to stay closed and adding that if anyone had to be arrested it should be him. The move comes as states and cities around the country find ways to safely resume their […]
Tesla Model 3 sales in China dropped 64% in April despite market recovery
Sales of Tesla’s Model 3 sedan in China dropped more than 64% in April compared with the previous month, regardless of a recovery in the electric car market, according to data from China Passenger Car Assication (CPCA) released on Monday. Tesla sold 3,635 Model 3 cars in April — dropping 10,160 in March, CPCA said. That decline […]
Tesla files lawsuit against California county over plant shutdown
Tesla remains opposed to Alameda County’s lockdown as it affects its facility Tesla has filed a federal lawsuit Saturday against Alameda County in California challenging its shutdown of the company’s main factory as a part of lockdown implemented for controlling the spread of the coronavirus. The lawsuit seeks to overturn the county’s May 4 health […]
Tesla secures $565 million loan for Shanghai factory
Electric automaker Tesla Inc has reached an agreement for a working capital loan of up to 4 billion yuan ($565.51 million) with a lender from China for its Shanghai auto plant, a regulatory filing showed on Friday. The loan, which will be given by Industrial and Commercial Bank of China Limited, will be used only for expenses related […]
Tesla reportedly halts car production at Chinese plant
Tesla has halted production this week at its factory near Shanghai, Bloomberg reported. Factory workers were supposed to get back from a five-day Labor Day break on Wednesday, but were told to increase the holiday and return as soon as Saturday, Bloomberg reported, mentioning unnamed sources. The company informed Bloomberg that its Shanghai factory is closed due […]
Tesla’s market value falls significantly after controversial tweet by Elon Musk
A sort of bloodbath has been observed for Tesla stock as billions of dollars were just got wiped off after its CEO Elon Musk tweeted that the automaker’s stock was “too high”. Tesla stock declined over 10 percent and its valuation declined by almost $9 billion after Musk’s tweets in reminiscence of his controversial tweets in August 2018 when […]
