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Tesla’s CEO Elon Musk has confirmed that the company is laying off employees and around 3.5% of its workforce would be impacted by the decision. Tesla is also facing a lawsuit in the US over mass layoffs. Tesla and its CEO Elon Musk have been in news since April when the world’s richest person offered…
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Yesterday, Tesla reported its deliveries for the third quarter. The Elon Musk-run company delivered 241,300 cars in the quarter which were way ahead of estimates. Tesla delivered 232,025 Model 3/Y in the quarter while the remaining 9,275 were Model S/X. Over the last couple of years, the share of higher-priced Model S/X in the company’s…
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The global chip shortage situation is taking a toll on automotive companies. Tesla would soon release its third-quarter deliveries which would provide insights into how much the chip shortage situation is impacting the company. Chinese electric vehicle makers NIO and Li Auto have already lowered their delivery guidance for the third quarter. Earlier this month,…
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Cathie Wood of ARK Invest, who is among the most prominent Tesla bulls, has reiterated the $3,000 target price for the EV (electric vehicle) company even as TSLA admitted to delays in the delivery timelines for upcoming models. Tesla had unveiled its Cybertruck pickup in 2019 with much fanfare. While the event was marred by…
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Tesla stock was trading lower in early price action today. China Passenger Car Association (CPCA) released the July vehicle sales data that showed the company’s sales in China plummeted in the month. Tesla delivered 8,621 China-made electric cars in China in July, which were 69% lower than what it did in June. However, the company…
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Tesla revealed its Model S Plaid model at an event yesterday. The high-end electric car would be pitched against other luxury models. The Model S along with Model X are among the older models in Tesla’s portfolio. The company did not produce these in the first quarter of 2021 as it was working to revamp…
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Tesla stock was trading lower in early US price action today after the company announced that it would cancel the Model S Plaid plus model. The Model S along with Model X are among the older models in Tesla’s portfolio. The company did not produce these in the first quarter of 2021 as it was…
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Tesla has been raising prices for its electric cars amid a massive increase in input costs. Apart from higher input costs, automakers are also battling a severe chip shortage that is hurting production. There has been cost-push inflation for automakers with prices of key raw materials like steel, copper, and aluminum rising. Steel prices are…
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Bitcoin prices are tumbling today and Tesla stock is also lower in US premarket price action today after Elon Musk’s tweet about cryptocurrencies. Musk has the ability to influence asset price as many of his fans end up blindly buying assets that he is even remotely seen as endorsing. The most prominent instance was when…
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Tesla stock fell 6.5% yesterday and was trading lower in US premarket trading today despite Wedbush reiterating its bullish bet on the electric vehicle maker and maintaining a $1,000 target price. 2020 was a spectacular year for not only Tesla but all the electric vehicle stocks. Tesla rose 740% in the year and also joined…
