At Tesla’s Battery Day event in September, CEO Elon Musk set himself an ambitious target: to produce a $25 000 electric car in three years. Hitting that price is seen as critical to deliver a true, mass-market product.
Tesla’s upcoming quarterly report could put another US$3-billion in CEO Elon Musk’s pocket. That’s R50-billion at the time of writing.
California just started the clock on a future that just a few years ago would’ve been unthinkable: dealerships full of nothing but zero-emissions cars.
Investors slashed $50-billion from Tesla’s market value on Tuesday despite CEO Elon Musk’s promise to cut electric vehicle costs so radically that a $25 000 car that drives itself will be possible within three years.
Elon Musk and his team are preparing to outline new steps in Tesla’s drive to become a more self-sufficient company less reliant on suppliers at its “Battery Day” event on 22 September. It’s part of a well-established pattern.
Tesla shed about $80-billion of its market value on Tuesday, an amount that overshadows the combined value of General Motors and Ford, after its surprise exclusion from the S&P 500 Index.
Volkswagen’s new electric car panned by Germany’s leading test publication. Auto Motor und Sport said the ID.3 fell short of the car maker’s usual standards of fit and finish, and had a limited operating range,
Tesla shares slumped in US pre-market trading on Tuesday after the electric vehicle maker missed out on being included in the S&P 500 Index, taking investors who had bet on its entry to the benchmark by surprise.
General Motors took a US$2-billion equity stake in Nikola and partnered with the truck maker to engineer and manufacture its Badger bakkie, sending its shares soaring in early trading.
For decades, the Mercedes S-Class has defined the gold standard in luxury sedans. But as consumers gravitate toward SUVs and electric cars define cutting-edge technology, Daimler must prove its flagship remains relevant.