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“Tesla makes Tom Zhu highest-profile executive after Elon Musk” Tesla’s China chief Tom Zhu has been promoted to take direct oversight of the electric carmaker’s US assembly plants as well as sales operations in North America and Europe, according to an internal posting of reporting lines reviewed by Reuters. The Tesla posting showed that Zhu’s title of vice president for Greater…
“Tesla shares plunge 10% to start 2023 on weak demand worries” Tesla shares kicked off 2023 with a 10% drop on Tuesday, extending a selloff from their worst year on growing worries about weakening demand and logistical problems that have hampered deliveries. The latest slide came after the world’s most valuable automaker missed estimates for fourth-quarter…
“Elon Musk becomes first person ever to lose $200 billion” Billionaire Elon Musk, formerly the richest man in the world, has broken a new record. The Tesla founder and Twitter owner has become the first person in history to lose $200 billion off his net worth, according to the Bloomberg Billionaire’s Index. The multi-billion dollar…
“Elon Musk tells Tesla workers to relax despite ‘stock market craziness’” Tesla Chief Executive Elon Musk told employees that they should not be “bothered by stock market craziness” after the company’s shares fell nearly 70% this year on jitters over softening demand for electric vehicles and Musk’s distraction with running Twitter. In an email sent to staff on…
“Tech moguls lost a combined $433B in wealth in 2022 stock market dive” The nation’s tech titans lost an aggregate total of more than $430 billion as shares of their once-hot companies plummeted this year. Tesla and Twitter boss Elon Musk’s net worth nosedived an eye-watering $132 billion, causing him to lose his title as…
“Tesla’s wireless charging pad wants to achieve what Apple couldn’t” Name a product that Tesla never thought of making, and out of the blue there it is. That’s the case with this new creation by the Elon Musk-owned company, never willing to show the white flag. After the shenanigans of Apple’s scrapped AirPower charging mat…
“Tesla shuts down Shanghai plant as COVID cases in China surge” Tesla suspended production at its busiest facility in Shanghai, according to an internal memo. No reason was given for the work stoppage, according to Reuters, whose reporters saw the communication. It simply told the morning shift workers they could start their holiday break early….
“Elon Musk confronted by Tesla investor over pronoun comments” Elon Musk was confronted by a Tesla investor with a trans child over the mogul’s comments on preferred pronouns — with the shareholder accusing the billionaire of “punching down” on a vulnerable group before he was allegedly booted from the public Twitter chat. Earl Banning, an active-duty…
“Elon Musk vows not to sell Tesla stock for another two years” Tesla Chief Executive Officer Elon Musk said Thursday he will not sell any more Tesla stock for another two years. While speaking in a Twitter Spaces audio chat, Musk said he foresees the economy will be in a “serious recession” in 2023 and consumer demand will be lower. Shares…
“Tesla to conduct layoffs, implement hiring freeze as stock sinks: report” Elon Musk’s Tesla is set to conduct layoffs and freeze further hiring as the electric car maker contends with a sustained downturn in its stock price, according to a report Wednesday. Tesla informed employees about the hiring freeze and said “another wave of layoffs…