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.
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.
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.