Tesla outpaced analyst estimates for second-quarter vehicle deliveries on Thursday, defying a trend of plummeting sales in the wider auto industry and sending its shares up 8%.
Browsing: Motoring and transport
Tesla on Wednesday became the highest-valued car maker as its shares surged to new record highs and the electric vehicle maker’s market capitalisation overtook that of former front runner Toyota.
Tesla has grown from Silicon Valley gadfly to the world’s second largest automaker by market capitalisation in the decade since its initial public offering. It’s been a roller-coaster ride.
Amazon.com has agreed to pay over $1-billion to buy self-driving start-up Zoox, according to a report. It would would expand its reach in autonomous vehicle technology.
Government plans to retain a minority shareholding in South African Airways while ceding management control to its investors, an official said.
Two unions on Friday rejected job cuts proposed to rescue South African Airways, which has cost the government more than R17-billion to stave off bankruptcy and will cost it about half that again to reform.
South African Airways’ administrators proposed the government put up at least R26.7-billion to rescue the carrier after years of losses and the grounding of commercial passenger flights.
The surge in Tesla’s shares so far this month moved Elon Musk’s company even closer to displacing Toyota as the world’s most valuable car maker.
Volkswagen will narrowly meet a deadline to start deliveries of its flagship ID.3 electric car, but early buyers will have to wait months for all the features to work.
Ride-hailing giant Uber Technologies has rolled out Uber Cash in South Africa to encourage contactless payments amid the Covid-19 crisis.