General Motors CEO expects Tesla to be around in another 10 years
General Motors’s CEO Mary Barra stated on Thursday she expects electric automaker Tesla Inc to be around in the next 10 years, regardless of Tesla’s troubles with turning around its operations. It is “highly possible” GM would be rivaling against Tesla over the next decade, Barra stated at the DealBook conference in New York when
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Baillie Gifford wants to invest more in Tesla
Baillie Gifford & Co, one of the leading shareholders of Tesla Inc, has stated it would be willing to invest more money into the electric automaker, the Times reported on Monday. “If he (Tesla CEO Elon Musk) needs more capital we would be willing to back him,” stated Nick Thomas, a partner at Edinburgh-based Baillie
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Daimler doesn’t rule out cooperating with Tesla in future
Daimler AG does not rule out collaborating with Tesla Inc in future even though the the German automaker sold its stake in the U.S. electric vehicles company, Daimler’s chief executive Dieter Zetsche told a Polish newspaper. Dieter Zetsche informed the daily Rzeczpospolita that after selling the Tesla shares he “never regretted it. This does not
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Tesla shares surge as Musk delivers quarterly profit
Tesla Inc shares boosted on Thursday as Wall Street analysts stated the company had turned a corner with profitable third quarter results and it may no longer need need to raise outside capital. Increasing 12 percent at one point in early trading, the move in shares has contributed as much as $6 billion to Tesla’s
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Tesla loses rating in Consumer Reports reliability survey
Tesla Inc’s luxury car Model S sedan lost its “recommended” rating and the automaker slid overall by six spots to almost the bottom in Consumer Reports magazine’s yearly reliability survey. All domestic automaker landed in the bottom half of the magazine’s new-car reliability ratings, which consist data collected for over 500,000 vehicles. The survey, which
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Tesla critic Citron Research makes U-turn ahead of results
Tesla Inc shares jumped over 12 percent on Tuesday after long-time critic and short-seller Citron Research stated it had a change of heart and is now betting the automaker’s stock will boost. The firm stated in a research note that Tesla’s Model 3 sedan is a “proven hit” and serious rivalry from other automakers for
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Tesla says orders placed by October 15 eligible for full tax credit
Tesla Inc stated orders for cars placed by October 15 will be eligible for a full federal tax credit of $7,500 and these clients will get their vehicles delivered by the end of the year. Under a major tax overhaul passed by the Republican-controlled U.S. Congress late last year, rewards in the way of tax
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T. Rowe Price boosts stake on Tesla in vote of confidence for Musk
Tesla shareholder T. Rowe Price Group Inc raised its stake in the electric car maker by nearly half in the July-September quarter, according to a regulatory filing on Wednesday, an apparent vote of confidence for CEO Elon Musk. A subsidiary of T. Rowe that manages the company’s mutual funds boosted its investment in Tesla to
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Musk to step down as Tesla chairman, remain as CEO in SEC settlement
Tesla Inc and Elon Musk have accepted to pay $20 million each to financial regulators and the billionaire are going to step down as the company’s chairman but remain as chief executive, under a settlement that caps two months for the automaker. The securities fraud agreement, revealed by the U.S. Securities and Exchange Commission on
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Cost to insure Tesla debt roses to record high
The price to insure debt holdings in Tesla Inc rose to its highest-ever level on Friday as the bond market showed increasing worries about a default, after the news that CEO Elon Musk had been alleged of fraud by federal regulators. The automaker’s 5-year credit default swap TSLA5YUSAX=MG hit its highest cost ever on Friday,
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Tesla is building its own car carriers
Tesla Inc is making its own car carriers, as the electric automaker deals with vehicle distribution problems. The company is upgrading its logistics system but going into an “extreme” shortage of car carrier trailers, CEO Elon Musk tweeted on Monday in response to a client, who placed order for a Model 3 All Wheel Drive
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Tesla’s Elon Musk would no longer pursue $72 billion take-private deal
Tesla Inc CEO Elon Musk stated late on Friday he would no more pursue a $72 billion deal to take his U.S. automaker private, abandoning an idea that had shocked investors and drawn regulatory scrutiny. The decision leaves Tesla as a publicly listed company but raises new concerns regarding its future. Its shares have been
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Norway wealth fund permitted to stay on as investor if Tesla goes private
Rules governing Norway’s $1 trillion wealth fund would permit it to stay on as an investor in Tesla if the electric automaker goes private, its deputy CEO stated on Tuesday. Tesla CEO Elon Musk shocked financial markets this month when he informed on Twitter he was thinking a $420 per share take-private deal for the
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Saudi PIF in talks to invest in Tesla competitor Lucid
PIF, the Saudi Arabian sovereign wealth fund that Tesla Inc CEO Elon Musk has stated could assist him fund a $72 billion deal to take his automaker private, is looking forward to invest in aspiring Tesla competitor Lucid Motors Inc, people knowledgeable with the matter stated on Sunday. The discussion between privately-held Lucid Motors and
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Tesla on its way to make 8,000 Model 3s per week
Tesla Inc is on its way to construct 8,000 Model 3 cars on weekly basis even as it burns more money, Evercore analysts wrote in a note on Thursday, after their visit to the automaker’s California facility. Tesla produced 5,031 Model 3 electric cars in the past seven days of the second quarter, the company
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