Institutional Shareholder Services opposes re-election of Tesla chairwoman

Institutional Shareholder Services Inc. (ISS)

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 […]

Ford, GM, Tesla can go ahead with making ventilators, says Trump

Donald Trump

U.S. President Donald Trump stated on Sunday that American automakers such as Ford Motor, General Motors and Tesla Inc have been given the green light in making ventilators and other objects required during the coronavirus crisis. “Ford, General Motors and Tesla are being given the go ahead to make ventilators and other metal products, FAST! […]

Panasonic to suspend production at Tesla joint venture due to coronavirus

Panasonic Corp

Panasonic stated on Saturday it will temporarily stop production at its battery joint venture with U.S. electric automaker Tesla Inc in Nevada due to the coronavirus outbreak. The Japanese electronics company, which provides battery cells for Tesla’s electric vehicles, will reduce operations at so-called Gigafactory 1 early next week before shutting down for 14 days, […]

Tesla states it plans to open China design and research center

Tesla Inc logo

U.S. electric automaker Tesla prepares to open a design and research center in China to make “Chinese-style” vehicles, the company stated in a recruitment notice on its official WeChat account. Wednesday’s notice sought to recruit designers and other workers to help meet the goal, and called for applications by February 1, but did not mention […]

Tesla to take new $1.4 billion loan from Chinese banks for Shanghai factory

Tesla Inc logo

Tesla Inc and a group of China banks have accepted a new 10 billion yuan ($1.4 billion), five-year loan facility for the automaker’s Shanghai auto plant, three sources knowledgeable with the matter stated, part of which will be used to roll over a present loan. China Construction Bank (CCB), Agricultural Bank of China (AgBank), Industrial […]

Tesla’s Chinese-built Model 3 cars would receive state subsidies

Tesla Model 3 spied

Tesla Inc stated on Friday that its Chinese-built Model 3 cars would get state subsidies, a move that will significantly help the electric automaker’s push into the world’s biggest auto market. China’s industry ministry had previously stated Tesla’s Model 3 cars, being constructed at its $2 billion factory located in Shanghai, were on a list […]