Tesla says production innovation to cut auto costs by half
1 year, 9 months ago

Tesla says production innovation to cut auto costs by half

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. CEO Elon Musk and other executives outlined the goals during a lengthy investor day presentation at Tesla's Austin, Texas, headquarters Wednesday as they presented the company's third master plan. Company executives said the Mexican plant would build the next generation of vehicle, which also will be built at other factories. Franz Von Holzhausen, Tesla’s design chief, said the company has to make another sharp reduction in costs in order to reach its ambitious electric-vehicle production target of 20 million vehicles per year. Chief Financial Officer Zachary Kirkhorn said the company cut costs in half between the early Models S and X and the second generation, Models 3 and Y.

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Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles
8 months ago

Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles

Hindustan Times  

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. On a conference call with analysts, CEO Elon Musk said he expects production to start in the second half of next year “if not late this year.” New factories or massive new …

Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles
8 months ago

Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles

Associated Press  

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. On a conference call with analysts, CEO Elon Musk said he expects production to start in the second half of next year “if not late this year.” New factories or massive new …

Tesla cuts prices amid global challenges
8 months ago

Tesla cuts prices amid global challenges

China Daily  

This file photo taken on Jan 12, 2018, shows a Tesla logo seen in Los Angeles, California, the US. The world's largest EV maker by volume, which is owned by the technology billionaire Elon Musk, said it would reduce prices in all of its major markets, which include the US, Germany, and China. The Chinese smartphone maker Xiaomi has also …

Tesla cuts prices globally after Cybertruck recall and stock downturn
8 months ago

Tesla cuts prices globally after Cybertruck recall and stock downturn

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The price reduction came after Tesla’s stock dropped below $150 per share on Friday and wiped out …

Tesla cuts the price of its “Full Self Driving” system by a third to $8,000
8 months ago

Tesla cuts the price of its “Full Self Driving” system by a third to $8,000

Associated Press  

NEW YORK — Tesla knocked roughly a third off the price of its “Full Self Driving” system — which can’t drive itself and so drivers must remain alert and be ready to intervene — to $8,000 from $12,000, according to the company website. The cuts, which occurred on Saturday, follow Tesla’s moves to slash $2,000 off the prices of three …

Tesla cuts China, US prices after slow sales, rising inventories
8 months ago

Tesla cuts China, US prices after slow sales, rising inventories

Hindustan Times  

Elon Musk-led Tesla has slashed prices in China and the United States following a disappointing first quarter sales that led to a swelling inventory. In the United States, the cheapest version of Tesla's Model Y is priced at $42,990 Recently, Elon Musk in a memo to 1.40 lakh company employees announced that he was reducing workforce by more than 10 …

Tesla knocks $2,000 off prices for 3 EVs after shares crash 39% YTD on falling sales
8 months ago

Tesla knocks $2,000 off prices for 3 EVs after shares crash 39% YTD on falling sales

Live Mint  

Tesla knocked $2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk. The company cut the prices of the Model Y, a small SUV which is Tesla's most popular model and the top-selling electric vehicle in the US, and …

Tesla cuts US prices for 3 of its electric vehicle models after a difficult week
8 months ago

Tesla cuts US prices for 3 of its electric vehicle models after a difficult week

Associated Press  

Tesla knocked $2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk. The company cut the prices of the Model Y, a small SUV which is Tesla’s most popular model and the top-selling electric vehicle in the U.S., and …

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call
10 months, 4 weeks ago

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call

Firstpost  

The stock value of Tesla saw a significant dip of just over 12% on Thursday following remarks by CEO Elon Musk highlighting the challenges posed by Chinese electric-car manufacturers, whom he referred to as “the most competitive car companies in the world.” During Tesla’s earnings call on Wednesday, Musk praised Chinese carmakers such as BYD, Geely, and SAIC, emphasizing their …

Price cuts boost Tesla’s 4Q sales, beating estimates as electric vehicle growth rate slows
11 months, 3 weeks ago

Price cuts boost Tesla’s 4Q sales, beating estimates as electric vehicle growth rate slows

Associated Press  

DETROIT — Steep price cuts helped electric vehicle maker Tesla Inc. increase its fourth-quarter vehicle sales by almost 20% as EV sales growth slowed across the industry. Full-year sales numbers fell far short of CEO Elon Musk’s prediction of 50% sales growth in most years. Industry analysts expect the price cuts to trim Tesla’s profit margins when it reports earnings …

Tesla ready to open factory in India, but has this condition
1 year, 1 month ago

Tesla ready to open factory in India, but has this condition

Hindustan Times  

Tesla is ready to invest up to $2 billion to set up a factory in India if the government cuts import duty on its vehicles to 15% for the first two years of operations, the Economic Times reported on Friday. Prime Minister Narendra Modi met Tesla chief executive Elon Musk during a state visit to the US in June. The …

Tesla in India: Elon Musk’s EV company set to sign deal to start importing cars, set up $2bn factory
1 year, 1 month ago

Tesla in India: Elon Musk’s EV company set to sign deal to start importing cars, set up $2bn factory

Firstpost  

Tesla is expected to invest about $2 billion initially for its manufacturing plant. Tesla may also explore the possibility of manufacturing its batteries in India It seems that Tesla is set to enter the Indian market in 2024, first through imported cars and then later selling India-made Teslas. India is reportedly on the verge of finalizing an agreement with Tesla …

Tesla prices now rival average U.S. cars after billions in cuts
1 year, 2 months ago

Tesla prices now rival average U.S. cars after billions in cuts

LA Times  

Some see Tesla’s price cuts as the cost of propping up demand after Chief Executive Officer Elon Musk’s acquisition of Twitter — now X Corp. — and his increasing engagement with right-wing politics. Black has used his widely followed social media account on X, formerly known as Twitter, to advocate for Tesla to spend money on traditional advertising campaigns rather …

Tesla raises 2023 spending forecast as it races to ramp up output
1 year, 8 months ago

Tesla raises 2023 spending forecast as it races to ramp up output

Live Mint  

Tesla Inc raised its capital expenditure forecast for 2023 on Monday as the automaker ramps up output at its factories to take advantage of the rising interest in electric vehicles. The company, led by Elon Musk, said in a filing that it expects to spend between $7 billion and $9 billion this year, higher than its previous outlook of $6 …

Tesla cuts U.S. prices again ahead of 1Q earnings release
1 year, 8 months ago

Tesla cuts U.S. prices again ahead of 1Q earnings release

Associated Press  

DETROIT — Tesla dropped the starting prices for its two top-selling models overnight, the company’s fourth price cut in the U.S. this year. The company lopped $3,000, or about 6%, off the starting prices for all three versions of the Model Y small SUV, Tesla’s top-seller. Tesla could have cut the Model 3 prices to make more cars loaded with …

Tesla slashes U.S. prices again
1 year, 8 months ago

Tesla slashes U.S. prices again

LA Times  

Tesla is dropping prices for the fourth time since late last year in an apparent effort to attract new buyers. Tesla dropped the starting prices for its two top-selling models overnight, the company’s fourth price cut in the U.S. this year. The company lopped $3,000, or about 6%, off the starting prices for all three versions of the Model Y …

Tesla cuts prices on all models, 3rd cut this year
1 year, 8 months ago

Tesla cuts prices on all models, 3rd cut this year

Associated Press  

DETROIT — Tesla cut prices on its entire U.S. electric vehicle model lineup for the third time this year in an apparent effort to lure more buyers amid rising interest rates. The largest of the cuts that appeared Friday on Tesla’s website were $5,000 per vehicle for the company’s slower-selling more expensive models, the S large sedan and the X …

Tesla cuts prices on all models for 3rd time this year
1 year, 8 months ago

Tesla cuts prices on all models for 3rd time this year

LA Times  

Tesla is dropping prices for the third time since late last year in an apparent effort to attract new buyers. Tesla cut prices on its entire U.S. electric vehicle model lineup for the third time this year in an apparent effort to attract more buyers amid rising interest rates. The largest of the cuts that appeared Friday on Tesla’s website …

Tesla sales rise 36% in first quarter, following price cuts
1 year, 8 months ago

Tesla sales rise 36% in first quarter, following price cuts

Associated Press  

DETROIT — Tesla’s first-quarter vehicle sales rose 36% after the company cut prices twice in a bid to stimulate demand. In a note to investors Sunday, Jefferies analyst Philippe Houchois wrote that Tesla’s “excess production over deliveries” will keep the debate going over whether there’s demand weakness or if the price cuts will raise demand. During Tesla’s investor day event …

Tesla price cuts: Flagging demand or tactic to boost sales?
1 year, 9 months ago

Tesla price cuts: Flagging demand or tactic to boost sales?

Associated Press  

DETROIT — In explaining why Tesla Inc. keeps cutting prices on its electric vehicles, the auto industry is pretty much divided into two camps. The company is sending a message to rivals that “you have to offer the best technology at a compelling price while keeping your costs down.” Goldstein said he doesn’t foresee additional Tesla price cuts this year, …

Tesla’s growth ambition comes with a $175 billion price tag
1 year, 9 months ago

Tesla’s growth ambition comes with a $175 billion price tag

Live Mint  

AUSTIN, Texas—Elon Musk’s Tesla Inc. spent around $28 billion to cement itself as the world’s most valuable car company. Today’s largest auto maker sells roughly half that annually, while Tesla delivered around 1.3 million vehicles to customers globally last year. Mr. Kirkhorn, the CFO, said his investment forecast of up to $175 billion, including around $28 billion already spent, was …

Tesla says it will cut costs of next generation cars in half
1 year, 9 months ago

Tesla says it will cut costs of next generation cars in half

Associated Press  

DETROIT — Tesla says it will cut the cost of its next generation of vehicles in half, largely by using innovative manufacturing techniques and smaller factories. Many investors were hoping to catch a glimpse of the next generation vehicles, but Musk said they wouldn’t be shown until a proper product unveiling. Franz Von Holzhausen, Tesla’s design chief, said the company …

Tesla touts plans to halve vehicle production costs
1 year, 9 months ago

Tesla touts plans to halve vehicle production costs

Live Mint  

Tesla Inc will cut vehicle assembly costs by half in future generations of cars, engineers told investors on Wednesday, outlining design and factory efficiency gains as fans waited for Chief Executive Elon Musk to unveil a new model. Musk, who also described how the world could transition to a sustainable energy future of "abundance," is expected to lay out a …

Elon Musk’s playbook for Tesla to survive recession: Cut costs drastically, engage competitors in price war
1 year, 10 months ago

Elon Musk’s playbook for Tesla to survive recession: Cut costs drastically, engage competitors in price war

Firstpost  

Elon Musk believes that 2023 will see the beginning of a massive recession. In a conference call discussing Tesla’s fourth-quarter results, with Tesla executives, Elon Musk outlined his plan to reshape the economics that electric vehicle makers follow, in order to survive what Musk believes to be a “serious” recession. Musk plans to run Tesla’s factories in a much leaner …

Tesla made an annual profit of $12.6 billion in 2022, expects strong demand in 2023
1 year, 10 months ago

Tesla made an annual profit of $12.6 billion in 2022, expects strong demand in 2023

Firstpost  

Tesla on Wednesday posted record net income in the fourth quarter of last year, and the company predicted that additional software-related profits will keep its margins higher than any other automaker. CEO Elon Musk said that despite price cuts of up to 20 per cent on some of its vehicles announced earlier this month, demand for Tesla products is strong …

Elon Musk: Tesla’s main competition will come from China
1 year, 10 months ago

Elon Musk: Tesla’s main competition will come from China

Live Mint  

On a conference call with analysts following the release of Tesla's quarterly earnings, CEO Elon Musk predicted that the electric vehicle manufacturer’s largest rival will be a Chinese firm. Even though manufacturing was hampered by China's now-abandoned Covid-Zero legislation, Tesla nonetheless produced more than 710,000 electric vehicles there in 2022, accounting for nearly 52% of its global output. Due to …

Tesla cuts vehicle prices in bid to boost flagging demand
1 year, 11 months ago

Tesla cuts vehicle prices in bid to boost flagging demand

Associated Press  

DETROIT — With its sales slowing and its stock price tumbling, Tesla Inc. slashed prices dramatically Friday on several versions of its electric vehicles, making some of its models eligible for a new federal tax credit that could help spur buyer interest. Many investors fear that Tesla’s sales slowdown will persist and have grown concerned about the erratic behavior of …

Tesla’s 2022 collapse hits 69% after deepest sell-off since April
1 year, 11 months ago

Tesla’s 2022 collapse hits 69% after deepest sell-off since April

LA Times  

Workers assemble a car at Tesla’s factory in Fremont, Calif. A plan to temporarily halt production at the company’s plant in China has investors shaken. The tailspin in Tesla shares accelerated Tuesday, marking their longest losing streak since 2018, as a report of a plan to temporarily halt production at its China factory rekindled fears about demand risks. The latest …

Tesla working on revamped Model 3, codenamed it project ‘Highland’: Report
2 years ago

Tesla working on revamped Model 3, codenamed it project ‘Highland’: Report

Hindustan Times  

Tesla is developing a revamped version of Model 3, according to four people with knowledge of the effort, as the top EV maker aims to cut production costs and boost the appeal of the five-year-old electric sedan. The revamp of the battery-powered sedan, which could also include some changes to the Model 3’s exterior and powertrain performance, will go into …

China-made Tesla could be exported to the U.S.
2 years, 1 month ago

China-made Tesla could be exported to the U.S.

The Hindu  

Tesla is considering exporting made-in-China electric cars to the United States, two people with knowledge of the planning told Reuters, in a reversal that would reflect the automaker’s deepening cost advantage at its Shanghai plant and slower demand from Chinese consumers. In addition, factors including a cheaper yuan against the U.S. dollar, lower raw material prices in China and the …

Tesla cuts starter prices for Model 3, Model Y in China by up to 9%
2 years, 2 months ago

Tesla cuts starter prices for Model 3, Model Y in China by up to 9%

The Hindu  

Electric vehicle giant Tesla has cut starter prices for its Model 3 and Model Y cars by as much as 9% in China, according to listings on the company's Chinese website on Monday. The starting price for the Model 3 sedan was reduced to 265,900 yuan from 279,900 yuan, while that for Model Y sport utility vehicle was cut to …

Tesla cuts China prices, partly reversing previous increases
2 years, 2 months ago

Tesla cuts China prices, partly reversing previous increases

Live Mint  

Tesla Inc. cut the price of its cars in China by about 5% as it ramps up production at its Shanghai factory, partly reversing price hikes imposed earlier this year. “EV competition this year is very fierce, and Tesla’s performance may not match its expectations,” said Yale Zhang, managing director at Shanghai-based consultancy Autoforesight Co. “Hence, it decided to hit …

Tesla revenue misses forecast; new factories squeeze margins
2 years, 2 months ago

Tesla revenue misses forecast; new factories squeeze margins

The Hindu  

Tesla Inc. on Wednesday posted record third-quarter revenue but still missed Wall Street estimates as the electric carmaker led by billionaire Elon Musk delivered fewer vehicles than expected, while spending on new factories and new battery production squeezed margins. "Raw material cost inflation impacted our profitability along with ramp inefficiencies" from its new factories in Berlin and Texas, and the …

Is Tesla seeing a slowdown in demand?
2 years, 2 months ago

Is Tesla seeing a slowdown in demand?

Al Jazeera  

There are early signs of caution for the world’s most valuable car maker, including for its increasingly premium pricing. Morgan Stanley analyst Adam Jonas said he believed Tesla did not face an immediate demand problem, but added a caution on pricing and Tesla’s ability to buck the economic cycle. Musk himself in July said Tesla prices were hitting “embarrassing levels” …

Tesla Surpasses 3 Million Car Production Milestone: Elon Musk
2 years, 4 months ago

Tesla Surpasses 3 Million Car Production Milestone: Elon Musk

News 18  

Elon Musk has announced that his electric car company Tesla surpassed the milestone of producing 3 million vehicles. In an earnings call, Musk said that Tesla’s new factory outside of Berlin crossed 1,000 cars per week in June. pic.twitter.com/2Aee6slCuv— Elon Musk August 14, 2022 Over 413,000 EVs were sold in the US in H1 2022, including over 64,000 electric pick-up …

‘Unknowns’ delay Tesla’s ramp-up of its own cutting-edge batteries
2 years, 5 months ago

‘Unknowns’ delay Tesla’s ramp-up of its own cutting-edge batteries

The Hindu  

Tesla Inc is falling short of CEO Elon Musk's target to make its own next-generation batteries, sparking questions over the top electric car maker's ability to maintain its blistering expansion of auto production next year and beyond. Tesla said on Wednesday it would rely on suppliers to meet battery demand this year, as the necessity of learning new technologies is …

Tesla’s Q2 sales drop amid problems of supply chain, COVID-19 pandemic
2 years, 5 months ago

Tesla’s Q2 sales drop amid problems of supply chain, COVID-19 pandemic

India TV News  

Highlights Tesla on Saturday disclosed it sold more than 2,54,000 cars and SUVs from April through June Sales drop 18% from first 3 months of 2022 and also well below pace in last year’s final quarter The last time Tesla sold fewer vehicles globally was in the third quarter of 2021 Business news : Tesla’s sales from April through June …

Musk says Tesla’s new car factories ‘losing billions of dollars’
2 years, 6 months ago

Musk says Tesla’s new car factories ‘losing billions of dollars’

The Hindu  

Tesla Inc's new car factories in Texas and Berlin are "losing billions of dollars" as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said in an interview published on Wednesday. Musk said Tesla's Texas factory produces a "tiny" number of cars because of challenges in boosting production of its …

Tesla’s Texas, Berlin factories ‘losing billions of dollars’
2 years, 6 months ago

Tesla’s Texas, Berlin factories ‘losing billions of dollars’

Al Jazeera  

A shortage of batteries and China COVID curbs have left the EV maker struggling to ramp up production, Elon Musk said. Tesla Inc’s new car factories in Texas and Berlin are “losing billions of dollars” as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk has said in an interview. …

Tesla will HIKE the prices for all its cars by at least $3,000 - with a Model Y now costing $65,990
2 years, 6 months ago

Tesla will HIKE the prices for all its cars by at least $3,000 - with a Model Y now costing $65,990

Daily Mail  

Tesla has significantly increased the prices of its entire car lineup once again - as the US continues to struggle with surging inflation and record gas costs. The increases, which the company says is due to supply chain issues, saw the price tag for the Model S increase by $5,000, from $99,990 to $104,990 The hike, the second so far …

Tesla Delivered Over 3 Lakh Electric Vehicles in First Quarter of 2022
2 years, 8 months ago

Tesla Delivered Over 3 Lakh Electric Vehicles in First Quarter of 2022

News 18  

Electric vehicle company Tesla delivered 310,048 vehicles in the first quarter of 2022, despite what CEO Elon Musk says was an “exceptionally difficult quarter”, citing global supply chain issues and a brief closure at Tesla’s Shanghai factory. Deliveries increased slightly from the previous quarter’s 308,600 deliveries and outpaced the 184,800 shipments Tesla made in the first quarter, representing a 68 …

Giga-casting and robots: How Volkswagen’s Trinity aims to catch up with Tesla
2 years, 8 months ago

Giga-casting and robots: How Volkswagen’s Trinity aims to catch up with Tesla

The Hindu  

As Tesla kicks off production at its new German plant this month, Volkswagen is weeks away from finalising plans for a 2 billion euro electric vehicle factory that it hopes will bring it up to speed with its U.S. rival. Tesla says it can already churn out a Model Y in 10 hours at its new Giga Berlin-Brandenburg factory in …

EXCLUSIVE-Tesla plans new Shanghai plant to more than double China capacity - sources
2 years, 9 months ago

EXCLUSIVE-Tesla plans new Shanghai plant to more than double China capacity - sources

The Hindu  

Tesla Inc plans to start work on a new plant in Shanghai as soon as next month as part of a plan to more than double production capacity in China to meet growing demand for its cars in the country and export markets, two people familiar with the matter told Reuters. Once the new plant is fully operational, Tesla will …

Tesla posts record profit, won’t produce new models in 2022
2 years, 10 months ago

Tesla posts record profit, won’t produce new models in 2022

Associated Press  

DETROIT — Tesla Inc. on Wednesday posted record fourth-quarter and full-year earnings as deliveries of its electric vehicles soared despite a global shortage of computer chips that has slowed the entire auto industry. Although the company predicted it would be able to build 50% more vehicles than it made last year, CEO Elon Musk said the chip shortage would stop …

Panasonic Plans to Mass Produce Next-Gen Lithium-ion Batteries For Tesla in 2023
2 years, 10 months ago

Panasonic Plans to Mass Produce Next-Gen Lithium-ion Batteries For Tesla in 2023

News 18  

Panasonic is reportedly planning to mass-produce new lithium-ion batteries as early as 2023 for Tesla that could increase the range of electric vehicles by up to 20 percent. According to Nikkei Asia, the Japanese company plans to invest about $705 million in production facilities to make the new batteries for Tesla from as early as 2023. The new cells would …

Tesla announces 1.2b optimization of Shanghai factory
3 years ago

Tesla announces 1.2b optimization of Shanghai factory

China Daily  

Employees work at the Tesla gigafactory in Shanghai, Nov 20, 2020. Tesla, the US new energy vehicle manufacturer, will invest 1.2 billion yuan to optimize its production line at its gigafactory in Shanghai, Beijing News reported. Environmental protection investment has reached 85 million yuan, accounting for 7.08 percent of the total, according to the company's environmental impact assessment report, and …

Tesla delivered 241,300 vehicles between July and September, a 72 percent rise over last year's figures
3 years, 2 months ago

Tesla delivered 241,300 vehicles between July and September, a 72 percent rise over last year's figures

Firstpost  

Of the 240,000+ vehicles delivered in the third quarter, the Tesla Model 3 and Model Y made up over 230,000 units; annual sales figure expected to be around 865,000 units. Tesla says it delivered 241,300 electric vehicles in the third quarter even as it wrestled with a global shortage of computer chips that has hit the entire auto industry. That …

Tesla's plans for batteries, China scrutinized as Musk drops features
3 years, 4 months ago

Tesla's plans for batteries, China scrutinized as Musk drops features

The Hindu  

Tesla Inc has weathered the pandemic and supply chain crisis better than many of its rivals,achieving record deliveries last quarter. One of the persons said Tesla will initially use batteries made at Tesla's pilot production line in California, adding that they are being tested in prototype vehicles. "We are much more bullish for Q3 than Q2," said Gerber, expecting Tesla …

Tesla registers record deliveries of over 200,000 vehicles as semiconductor shortage tests industry
3 years, 5 months ago

Tesla registers record deliveries of over 200,000 vehicles as semiconductor shortage tests industry

Firstpost  

Tesla delivered 201,250 vehicles in the second quarter, overtaking the previous record set in January. Tesla scored record car deliveries in the second quarter, while Ford reported higher US auto sales despite a drag from the worldwide semiconductor shortage in June, the companies said Friday. Tesla delivered 201,250 vehicles during the period, overtaking the previous record set in January and …

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