"Tesla Responds to Sluggish EV Demand with Strategic Price Cuts
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Tesla Sells Just One Vehicle in South Korea in January Amid Challenges
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Tesla Shares Plummet Amid Corporate Fleet Challenges and Market Pressures
"Tesla's stock price has been under significant pressure recently, experiencing a sharp decline of approximately 7% during trading hours, contributing to a cumulative drop of 30% since the beginning of the year. -
Tesla Initiates Recall to Update 2.2 Million Vehicles After Font Size Flaw Detected
"Tesla Inc. is initiating a recall for 2.2 million vehicles across the United States due to an issue identified with the font size of the warning lights on the vehicle's display, which federal safety regulators have deemed too small to ensure safe driving.
The Latest
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Tesla Shares Surge as Elon Musk Announces Plans for New Affordable EV Models by 2025
Tesla shares experienced a significant 15% surge on Wednesday morning following CEO Elon Musk's announcement that the electric-vehicle company plans to begin production of new affordable EV models by early 2025. The news came during Tesla's earnings call on Tuesday, where the company reported disappointing first-quarter numbers, with revenue falling 9% year over year - its steepest annual decline since 2012. 
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Tesla Posts 55% Drop in Q1 Profits Amid EV Price Cuts and 'Numerous Challenges'
Tesla reported a 55% decline in profits for the first quarter of 2024, with earnings falling to $1.13 billion from the same year-ago period. The electric vehicle manufacturer attributed the drop to its protracted EV price-cutting strategy and "numerous challenges," including the Red Sea conflict, an arson attack at its Gigafactory Berlin, and the gradual ramp of the updated Model 3 at its Fremont factory. 
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Global Electric Vehicle Sales Surge, Projected to Reach 17 Million in 2024, IEA Report Reveals
The global electric vehicle (EV) market is experiencing robust growth, with sales projected to rise by more than a fifth to reach 17 million in 2024, according to a new report by the International Energy Agency (IEA). Despite the positive outlook, the market remains heavily concentrated in China, which accounts for 60% of global EV sales, while Europe and the United States represent 25% and 10%, respectively. 
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General Motors Surpasses Quarterly Earnings Expectations, Raises Full-Year Guidance
General Motors (GM) reported better-than-expected quarterly results on Tuesday, prompting the automaker to raise its annual forecast and sending shares up 4.9% in pre-market trading. The company's strong performance was driven by stable pricing and demand for its gasoline-powered vehicles, despite challenges in China and with its electric vehicle (EV) business. 
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Xiaomi Car to Launch Electric SUV, Plans for More Affordable Models
Xiaomi Car, having made a successful debut, continues to ride high on its initial achievements. Lei Jun, during the Xiaomi Investment Conference held on April 23, announced that as of April 20, pre-orders for the Xiaomi SU7 had exceeded 70,000 units, leading the company to increase its annual delivery target to over 100,000 vehicles. 
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Tesla and Li Auto Slash EV Prices Amid Intensifying Competition in China and Global Markets
Tesla shares sank in premarket trading on Monday, while China's Li Auto plummeted to an 11-month low, after both companies slashed prices of their electric vehicles (EVs) in various markets amid intense competition. The price cuts come as EV makers face declining sales and growing competition, particularly in China, the world's largest EV market. 
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Tesla Initiates Recall of Nearly 4,000 Cybertrucks Over Faulty Accelerator Issue
Tesla has issued a recall for 3,878 of its Cybertrucks due to a fault in the accelerator pedal that could potentially cause the vehicle to accelerate unintentionally. The recall, announced by the U.S. National Highway Traffic Safety Administration (NHTSA), highlights a defect where the accelerator pedal pad could come loose and become lodged in the vehicle's interior trim, posing a significant risk of crashes. 
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Tesla to Revisit Musk’s $56 Billion Compensation and Proposes Moving Incorporation to Texas
Tesla Inc. is once again making headlines with two controversial proposals slated for shareholder voting: reinstating CEO Elon Musk's $56 billion compensation package, which was previously nullified by a Delaware judge, and relocating the company's incorporation from Delaware to Texas. This move reflects Tesla's aggressive strategy to address legal setbacks and reshape its corporate governance landscape. -
Tesla's Workforce Reduction Hits Major Markets in U.S. and China
Tesla, the pioneering electric vehicle manufacturer, is facing a pivotal moment as it implements sweeping global job cuts affecting its largest markets, the United States and China. Amid declining sales and heightened competition, particularly in the electric vehicle sector, Tesla is streamlining its operations by reducing its workforce across various departments including sales, tech, and engineering. 
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Tesla to Cut 15,000 Jobs Globally in Drive for Cost Reduction and Increased Productivity
Tesla, the world's largest automaker by stock market value, is set to cut around 15,000 jobs globally in a bid to reduce costs and bolster productivity, according to reports from tech publication Electrek and Reuters. The electric vehicle maker, led by Elon Musk, has been grappling with soft demand for its vehicles, increased competition, and the impact of higher interest rates across much of the western world.
