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☆ Tesla slashed its Supercharger team. What does that mean for America’s EV network?
▼ + stars: | 2024-05-04 | by ( Ella Nilsen | ) edition.cnn.com time to read: +4 min

CNN —The news this week that Elon Musk laid off Tesla’s entire Supercharger team sent shockwaves of uncertainty through the industry tasked with building America’s new network of EV chargers. A fast and reliable charging network is an essential ingredient in getting more people to switch from gas-powered vehicles to electric, and some early types of chargers proved less than dependable. Tesla had a superior charging network long before President Joe Biden set an ambitious goal to install half a million stations around the US by the end of the decade. “There are many, many charging companies out there,” an EV industry source told CNN. “Charging is a difficult business, there’s no doubt about that,” the EV industry source said.

Persons: Elon Musk, Tesla, Joe Biden, NEVI, “ It’s, ”, it’s, ” Daniel Sperling, University of California Davis, Loren McDonald, ” McDonald Organizations: CNN, EV, Joint Office of Energy, Transportation, Electric Vehicle Infrastructure, NEVI, Infrastructure Law, ”, Institute of Transportation Studies, University of California Locations: EVAdoption, New York

☆ Sell in May and go away? Think again
▼ + stars: | 2024-05-02 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —It’s “sell in May and go away” season. All three major indexes broke five-month winning streaks as hotter-than-expected inflation data stoked fears that interest rate cuts will come later than forecast. The central bank kept interest rates on hold at a 23-year high at its policy meeting. Persistent inflation has kept long-anticipated rate cuts on the backburner. Tesla “has let our entire charging org go,” William Navarro Jameson, strategic charging programs lead at Tesla, wrote on X.

Persons: Stocks, Jerome Powell, ”, Alex McGrath, Larry Tentarelli, Bryan Mena, it’s, Read, Tesla, Tesla “, ” William Navarro Jameson, Lane Chaplin, Hanna Ziady, Peter Valdes Organizations: CNN Business, Bell, New York CNN, The, Dow Jones, Nasdaq, Wednesday, Traders, Blue, Carson Group, Research, Federal Reserve, Fed, Motors, Ford, Tesla Locations: New York

☆ Tesla axes electric vehicle charging team
▼ + stars: | 2024-05-01 | by ( Hanna Ziady | Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

London/New York CNN —Tesla has abruptly fired the team running its electric vehicle charging business, raising doubts about the future of one of the largest US charging networks, which other carmakers, such as General Motors and Ford, have said they will also use. Tesla “has let our entire charging org go,” William Navarro Jameson, strategic charging programs lead at Tesla, wrote on X. Following an invitation by Tesla chief executive Elon Musk, virtually every big automaker in the United States has committed to making EVs compatible with Tesla’s charging technology, now known as the North American Charging Standard. In response, major EV charging providers such as Electrify America and EVgo have also announced they will begin building chargers with NACS cables. “What this means for the charging network, NACS and all the exciting work we were doing across the industry, I don’t yet know,” Jameson wrote in his post.

Persons: New York CNN — Tesla, Tesla “, ” William Navarro Jameson, Lane Chaplin, Tesla, Elon Musk, ” Jameson, Musk, Dan Ives, ” Organizations: New York CNN, Motors, Ford, The, Tesla, American, EV, Wedbush Securities, CNN Locations: London, New York, United States, America

☆ No, the electric vehicle market isn’t crashing. It just needs recharging.
▼ + stars: | 2024-05-01 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

The second is the rate of EV sales growth is slowing, at least temporarily. The EV market is not collapsing, experts say, it’s just entering a new phase. Teslas still make up slightly more than half of all the electric vehicles sold in America, according to a report from Cox Automotive. But, just one year ago, Tesla produced more than 60% of all the EVs sold America. After having trouble cranking up production of its new generation of electric vehicles, GM seems to be accelerating.

Persons: it’s, ”, Coco Zhang, “, Teslas, Tesla, Cox, Ford, China’s Geely, Michael Lenox, Corey Cantor, Cantor, ” Cantor Organizations: New, New York CNN, International Energy Agency, ING, CNN, Cox Automotive, Ford, General Motors, Blazer, European Federation for Transport, Volvo, EV, China Passenger Car Association, University of Virginia, Bloomberg New Energy Finance, Vehicles, Chevrolet Bolt, Dodge Locations: New York, That’s, EVs, America, China, Europe, United States, ’

☆ Tesla Fires Many on Charger Team, Raising Doubts About Expansion
▼ + stars: | 2024-04-30 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

Elon Musk has gutted the part of Tesla responsible for building electric vehicle charging stations, sowing uncertainty about the future of the largest and most reliable U.S. charging network. Tesla’s agreements with other makers of electric cars assured buyers that they would be able to find fast chargers on road trips, addressing one of the main reasons that many people are hesitant to buy such cars. It was also seen as a coup for Mr. Musk, validating Tesla’s technology and giving the company outsize influence over the auto industry. Almost all major manufacturers announced plans to switch the hardware and software in their cars to make them compatible with Tesla’s chargers. Ford has been mailing adapters to owners of its older electric vehicles so they can connect to Tesla’s chargers.

Persons: Elon, Tesla Organizations: General Motors, Ford Motor, Ford

☆ Tesla Reaches Deals in China on Self-Driving Cars
▼ + stars: | 2024-04-29 | by ( Keith Bradsher | ) www.nytimes.com time to read: +1 min

Tesla had faced a couple hurdles to offering the latest level of autonomous driving, which it calls supervised Full Self-Driving. It has needed approval from Chinese regulators, who questioned whether the company took adequate precautions to protect data. The government-linked China Association of Automobile Manufacturers later announced that Tesla and five Chinese automakers had obtained approval from authorities and the association for their data security precautions on dozens of car models. The rules bar automakers in China from using software that would identify the faces of anyone outside their vehicles, and include many other restrictions. Self-driving systems use cameras to guide vehicles.

Persons: Tesla, Elon Musk, Musk, Li Qiang, Xi Jinping, Li Organizations: Sunday, Communist Party, China Association of Automobile Manufacturers Locations: Beijing, China, Shanghai

☆ Elon Musk wins official praise for Tesla during surprise visit to China
▼ + stars: | 2024-04-29 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Autopilot is available in China, but not the full FSD feature, which needs to comply with the country’s data security rules. “The economies of China and the United States are deeply integrated,” he said, according to an official readout of the meeting with the Tesla CEO. “Tesla is willing to further deepen cooperation with China and achieve more win-win results,” Musk told Li. Musk first met Li in 2018, when Tesla signed a deal with the Shanghai government to open a plant there. Since then, Musk has met with Li publicly at least five times, according to state media reports and government statements.

Persons: Hong Kong CNN — Elon Musk, Premier Li Qiang, Tesla, Musk, ”, Dan Ives, that’s, Ives, Antony Blinken, Xi Jinping, Li, China’s BYD, “, ” Musk, Tesla’s, Ren Hongbin, Li Qiang Organizations: Hong Kong CNN, Premier, China Association of Auto Manufacturers, Baidu, Bloomberg, CNN, Beijing Auto, EV, Wedbush Securities, China Council, Promotion of International Trade Locations: China, Hong Kong, Beijing, United States, Shanghai, Weibo

☆ Auto Safety Regulator Investigating Tesla Recall of Autopilot
▼ + stars: | 2024-04-26 | by ( J. Edward Moreno | ) www.nytimes.com time to read: +1 min

The federal government’s main auto safety agency said on Friday that it was investigating Tesla’s recall of its Autopilot driver-assistance system because regulators were concerned that the company had not done enough to ensure that drivers remained attentive while using the technology. The National Highway Traffic Safety Administration said in documents posted on its website that it was looking into Tesla’s recall in December of two million vehicles, which covered nearly all of the cars the company had manufactured in the United States since 2012. The safety agency said that it had concerns about crashes that took place after the recall and results from preliminary tests of recalled vehicles. The investigation adds to a list of headaches for Tesla, the dominant electric vehicle maker in the United States. Tesla announced in December that it would recall its autopilot software after an investigation by the auto safety agency found that the carmaker hadn’t put in place enough safeguards to make sure the system, which can accelerate, brake and control cars in other ways, was used safely by drivers who were supposed to be ready at any moment to retake control of their cars using Autopilot.

Persons: Tesla, hadn’t Organizations: Traffic Safety Administration Locations: United States

☆ Safety regulator probing whether Tesla’s recall of 2 million vehicles with Autopilot was adequate to fix safety threat
▼ + stars: | 2024-04-26 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Federal safety regulators said they are investigating whether Tesla’s massive recall in December of essentially all of its vehicles on US roads was sufficient to fix the safety threat posed by its “Autopilot” feature. The recall of 2 million Tesla vehicles was ordered by the National Highway Traffic Safety Administration over a software update that is designed to limit the use of its Autopilot feature. The NHTSA said late Thursday that Tesla’s software update recall requires the owner to opt in and allows a driver to readily reverse it. The software update ordered in December was designed to give Tesla drivers more warnings when they are not paying attention to the road while using the Autopilot’s “Autosteer” function. After the recall, Tesla vehicles with Autosteer turned on were supposed to check on the driver’s attention level more routinely.

Persons: Tesla, Elon, Musk, Autosteer, ” Tesla Organizations: New, New York CNN, Federal, National, Traffic Safety Administration, NHTSA, CNN Locations: New York, ”

☆ Tesla’s entry into India’s EV market will be 'good news’ for the country, says MG Motor India
▼ + stars: | 2024-04-24 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +3 min

"When India as a market gets attention, more and more players and investments will come in. Numbers are still constrained because consumers don't have compelling choices," Chaba told CNBC's Sri Jegarajah in Gurugram, India. India's electric vehicle sector still lacks competition, but entry from international automakers like Tesla will level the playing field, MG Motor India's CEO Emeritus Rajeev Chaba said. Tesla CEO Elon Musk postponed a scheduled trip to India this week where he was to meet Prime Minister Narendra Modi, citing "heavy Tesla obligations." It'll be good for the industry, good news for the country, and for serious players like us."

Persons: Tesla, Chaba, EVs, CNBC's, Rajeev Chaba, Elon Musk, Narendra Modi, Maruti Suzuki, It'll, Musk Organizations: Bain & Company, CNBC's Sri, Motor, Reuters, Tesla, Tata Motors, Mahindra, Maruti Locations: India, CNBC's Sri Jegarajah, Gurugram, New Delhi, Mumbai

☆ Analysis: China’s EV market reshaped by a brutal elimination round
▼ + stars: | 2024-04-24 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —A “life and death race” has begun to unfold in the world’s largest market for electric vehicles (EV). More than a dozen passenger carmakers disappeared from the market last year, according to statistics from the China Passenger Car Association. Too many playersOvercrowding is another major issue plaguing China’s EV industry. Last month, Xiaomi, a Chinese smartphone brand, launched its electric car, the SU7 sedan. “China’s EV industry has entered a stage of cyclical adjustment after two decades of growth,” he said at a forum in Beijing.

Persons: ”, Tesla, Mark Rainford, Richard Yu, Li Auto, “ They’re, Huawei’s Aito, Lei Jun, BYD, Rainford, Gan Jiayue, Wang Chuanfu, Yin Tongyue Organizations: Hong Kong CNN, Auto China, YouTube, China, “, National Development, Reform Commission, China Passenger Car Association, WM, Mitsubishi Motors, Honda, Hyundai, Ford, Huawei, EV, China Association of Auto Manufacturers, China’s EV, Li, Tesla, Porsche, Geely Auto, Meizu, Chery Auto, International Energy Agency Locations: China, Hong Kong, Beijing, Shanghai, oversupply, Meizu

☆ After Tesla’s falling sales, layoffs and other problems, this is a very important earnings report
▼ + stars: | 2024-04-23 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

Investors will get an idea of just how bad after the company reports earnings and offers comments to investors after the bell today. And it makes what Tesla says Tuesday evening very important for its future. Analysts are forecasting Tesla to report adjusted earnings of 49 cents a share, sharply lower than the 85 cents a share it reported a year ago. Its profit margins, also a closely watched number, have been falling steadily since it started an EV price war more than a year ago. What he says about the competition from Chinese EVs today will also be a key focus for investors.

Persons: New York CNN — Tesla, Tesla, Elon Musk, ”, Dan Ives, it’s, Ives, Gordon Johnson, Musk Organizations: New, New York CNN, Investors, Elon, Wedbush Securities, Toyota, General Motors, Ford, GLJ Research, Mr, Reuters Locations: New York, China, Delaware

☆ Can markets make a comeback? That depends on tech earnings
▼ + stars: | 2024-04-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

The Nasdaq tumbled 2.1% on Friday as tech stocks plunged, marking its worst day since January 31. “US earnings updates this week will be key to see if they can keep topping expectations and buoying risk appetite in a higher-for-longer interest rate environment.”Tesla, Facebook-parent Meta, IBM, Microsoft and Alphabet all report first quarter earnings later this week. “Big Tech earnings may determine whether the stock market avoids its first four-week losing streak in two years,” wrote Chris Larkin, managing director of trading and investing at E*TRADE from Morgan Stanley on Monday. About 15% of S&P 500 companies have reported first quarter earnings, and nearly three-quarters of those companies have posted a positive earnings-per-share surprise. But investors are nervously waiting for the Magnificent Seven, those massive Tech stocks that carry an outsized portion of market weight, to report.

Persons: Monday’s, “, ”, They’re, Tesla, Chris Larkin, Morgan Stanley, aren’t, we’re, Dave Sekera, ” Taylor Swift’s, Apple Taylor Swift, Liam Reilly, Department ”, Post Malone, Laura He Organizations: CNN Business, Bell, New York CNN —, Nasdaq, BlackRock, Federal Reserve, Facebook, IBM, Microsoft, “ Big Tech, Tech, Companies, Nvidia, Apple, Big Tech, Bank of America, Morningstar, Department, Spotify, Poets Department, Amazon Music, Apple Music, EV, Tesla Locations: New York, Wells, China, Germany, United States, Tesla’s, Europe

☆ Tesla cuts prices in China and Germany as competition heats up
▼ + stars: | 2024-04-22 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Tesla has announced aggressive price cuts in China and Germany, shortly after reducing prices in the United States, as the world’s largest maker of electric vehicles (EV) faces declining sales and growing competition in major markets. The first cuts were announced on Friday in the US, when Tesla reduced the prices of three of its five models. China gets tougherIn China, the largest EV market in the world, Tesla’s price cuts are expected to exacerbate an existing price war in a highly competitive sector. China’s EV price war started in October 2022, when Tesla cut prices to boost sales as consumers slashed spending in a slowing economy. The competition continues unabated in 2024, with more than 30 major car makers announcing further price cuts.

Persons: Hong Kong CNN — Tesla, Tesla, Elon Musk, Narendra Modi, Li Auto, Li Xiang, Li, China’s BYD, XPeng, BYD Organizations: Hong Kong CNN, EV, Tesla, Li Locations: China, Hong Kong, Germany, United States, Tesla’s, Europe, India, Guangzhou

☆ Elon Musk is heading to India. He could deliver a big win for Tesla and Narendra Modi
▼ + stars: | 2024-04-19 | by ( Diksha Madhok | ) edition.cnn.com time to read: +6 min

Apart from Tesla (TSLA), Musk is also the boss of rocket company SpaceX and X, formerly Twitter. If the investment in India is announced, it would be a boost to Modi’s efforts to make India a major global manufacturing hub. “We will support the growth of the automobile industry and its transition to EV manufacturing,” the manifesto said. In the fourth quarter of 2023, Tesla briefly lost its crown as the leader in global EV sales to Chinese automaker BYD. It recaptured the EV sales title from BYD in the first quarter, despite the drop in sales.

Persons: New Delhi CNN — Tesla, Elon Musk, Narendra Modi, Tesla, Musk, Modi, Pawan Chandana, “, Bharatiya Janata Party's, Sajjad Hussain, Bharat, ‘, India “, ”, ” Tesla Organizations: New, New Delhi CNN, Reuters, Skyroot Aerospace, CNN, Tesla, SpaceX, Twitter, Financial Times, India, Bharatiya Janata Party, BJP, Bharatiya Janata, Getty, Apple, Foxconn, Musk, India isn’t Locations: New Delhi, India, Shanghai, AFP, China, Beijing, Washington, United States, BYD, New York

☆ Tesla recalls Cybertruck due to accelerator pedal that can stick
▼ + stars: | 2024-04-19 | by ( Chris Isidore | Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

New York CNN —Tesla has been ordered to recall nearly 4,000 of its Cybertrucks due to an accelerator pedal that can stick in place when pressed down. “An unapproved change introduced lubricant (soap) to aid in the component assembly of the pad onto the accelerator pedal. Residual lubricant reduced the retention of the pad to the pedal,” the NHTSA wrote in the recall document. On Monday, NHTSA told CNN it had reached out to Tesla requesting more information on the issue. Unlike many Tesla recalls, this one cannot be fixed with a simple over-the-air software update.

Persons: New York CNN — Tesla, Tesla, Telsa Organizations: New, New York CNN, NHTSA, National, Traffic Safety Administration, CNN Locations: New York, Austin , Texas

☆ Tesla Will Recall Cybertruck in Latest Setback
▼ + stars: | 2024-04-19 | by ( J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Tesla has agreed to recall nearly 4,000 of its Cybertruck pickups to fix an accelerator pedal that can get stuck, raising the risk of crashes, a federal safety agency said on Friday. The defect could cause the vehicle to accelerate unintentionally, the National Highway Traffic Safety Administration said in a notice posted on its website. Tesla started selling the Cybertruck, its first pickup truck, in November after many delays. The recall is yet another setback for Tesla, the largest electric vehicle manufacturer in the United States. Tesla’s recent troubles have unnerved investors, and the company’s stock has fallen roughly 40 percent so far this year.

Persons: Tesla Organizations: Traffic Safety Administration Locations: United States

☆ US regional banks are still under pressure. That’s likely to continue
▼ + stars: | 2024-04-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Despite overcoming a crisis in 2023, the pain isn’t over for America’s regional banks. Shares of New York Community Bank have tumbled 71%, Bank OZK shares have slid 16% and Webster Financial shares have lost 11%. Regional banks reported wide losses on their profits during the first quarter. PNC projects that its net interest income will fall between 4% to 5% in 2024 from last year. “I’m worried about a handful of [regional banks],” Bair told CNBC on Tuesday.

Persons: that’s, Jerome Powell, “, ” Powell, Sheila Bair, “ I’m, ” Bair, ” Tesla, Tesla, Elon Musk, Chris Isidore, Musk, Chancellor Kathaleen McCormick, Read, Samantha Delouya, —, Maximilian Kotz, Leonie Wenz, Noah Diffenbaugh Organizations: CNN Business, Bell, New York CNN, Regional Banking, New York Community Bank, Bank OZK, Webster Financial, PNC Financial, T Bank, US Bancorp, Citizens, PNC, Valley Bank, Signature Bank, First Republic Bank, Federal Reserve, Wilson Center, Federal Deposit Insurance Corporation, CNBC, Tesla, Securities and Exchange Commission, United Nations, Potsdam, Climate, CNN, Stanford University Locations: New York, Delaware, ” Delaware

☆ Tesla Seeks to Revive Musk’s $47 Billion Pay Deal After Judge Says No
▼ + stars: | 2024-04-17 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

Facing criticism that it is overly beholden to Elon Musk, Tesla’s board of directors said on Wednesday that it would essentially give him everything he wanted, including the biggest pay package in corporate history. If setbacks in court and the car market have induced any soul searching among Tesla’s board, there was no sign of it in the latest announcement. If anything, the board doubled down on backing Mr. Musk, Tesla’s chief executive, risking riling up activist investors and more litigation. The board’s decision to ask shareholders to endorse a compensation plan for Mr. Musk that is worth about $47 billion came less than three months after a Delaware judge voided the same pay package. In addition, Mr. Musk has not presented much of a plan to restore the company’s momentum.

Persons: Elon Musk, Tesla, Musk Locations: Delaware

Tesla tries again on Musk’s record pay packageNearly three months ago, a Delaware court voided Elon Musk’s multibillion-dollar pay package that Tesla’s board — and most shareholders — had given him in 2018, contending that the process to decide it was “deeply flawed” and that the company didn’t properly disclose it to investors. On Wednesday, Tesla said that it would ask shareholders to vote again on that same pay package, now valued at about $47 billion, at its annual meeting on June 13. The company’s board is effectively asking shareholders, now armed with all of the information that was revealed about the negotiations in court, to make the court’s ruling moot. The vote is likely to set off a bitter battle among investors and governance experts over whether shareholders should provide Musk with the richest pay package in U.S. corporate history. It comes as Tesla faces new challenges, especially slumping sales that have erased billions off its market value in recent months.

Persons: Tesla, Elon Musk’s, — Locations: Delaware

As sales of Teslas drop and demand for electric vehicles cools — even as more models enter the market — an increasing number of automakers are competing for a slice of a shrinking pie. Nearly 269,000 electric vehicles were sold in the United States in the first three months of this year, according to Kelley Blue Book. And amid the quarter-to-quarter slowdown in the industry, Tesla’s market share has fallen from 62 percent at the start of 2023 to 51 percent now. Elon Musk told employees on Monday that Tesla would cut 10 percent of its work force. Investors, in turn, have been spooked: Tesla’s stock price has dropped over 30 percent this year, erasing billions of dollars in market capitalization.

Persons: Kelley, Elon Musk, Tesla Locations: United States

☆ Tesla heads to court after Apple engineer’s family says Autopilot caused his fatal crash
▼ + stars: | 2024-04-08 | by ( David Goldman | ) edition.cnn.com time to read: +4 min

But Huang’s family said Tesla oversold its Autopilot technology’s capabilities, and that it is not as safe to use as advertised. Tesla has come under intense scrutiny for its Autopilot technology over the six years since Huang’s fatal crash. That didn’t happen in the case of Huang’s crash, Tesla has said. Although Huang’s family acknowledges he was distracted while the car was driving, they argue Tesla is at fault because it falsely marketed Autopilot as self-driving software. If the jury finds in favor of Huang’s family, Tesla could have to pay damages, and they could add up quickly.

Persons: New York CNN — Tesla, Tesla, Walter Huang, Elon Musk, Huang, Huang’s, Mrs, ”, Mark Fong, Musk, “ Organizations: New, New York CNN, Apple, National Transportation Safety, Traffic Safety Administration, NHTSA Locations: New York, Silicon Valley, United States, California

☆ Tesla Settles Lawsuit Over a Fatal Crash Involving Autopilot
▼ + stars: | 2024-04-08 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

Tesla on Monday settled a lawsuit that blamed the automaker’s driver-assistance software for the death of a California man in 2018, averting a trial that would have focused attention on the company’s technology several months before it plans to unveil a self-driving taxi. The trial stemming from the death of Wei Lun Huang, an Apple software engineer who went by Walter, was scheduled to start Monday with jury selection. The case was one of the most prominent involving Tesla’s Autopilot software, attracting significant public attention and prompting an investigation by the National Transportation Safety Board. Terms of the settlement with Mr. Huang’s children and other members of his family were not disclosed, and Tesla filed court documents seeking to prevent them from being made public. Testimony in the trial would have put Tesla’s autonomous driving software under close scrutiny, further fueling a debate about whether the technology makes cars safer or exposes drivers and others to serious injury or death.

Persons: Tesla, Wei Lun Huang, Walter Organizations: Apple, National Transportation Safety Locations: California

☆ What’s wrong with Tesla?
▼ + stars: | 2024-04-07 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

EV sales growth has been slowing for a while but in the last two quarters, EV sales didn’t increase much at all, according to estimates from Cox Automotive. “Looking at the data, the big [EV] slowdown is shaping up to be a Tesla slowdown,” said Valdez Streaty. Last year, Tesla sales were up 38% compared to 2022, but investors had expected more. While that’s much less than the roughly 80% of EV sales Tesla accounted for in 2019, according to Edmunds.com, it’s still a majority. But, if you leave out Tesla, sales of other electric vehicles, as a group, were up 33%.

Persons: Tesla, Elon Musk, Stephanie Valdez Streaty, Ford, ”, Valdez, It’s, Teslas, it’s, ” Valdez Streaty, Musk, tirades, Søren Holm, ” Tesla, ” Holm, Holm, “, Chris Isidore Organizations: CNN, Cox Automotive, Audi, BMW, Mercedes, EV, Tesla, Ford, Hyundai, Twitter, Reuters, Caliber, Covid Locations: United States, Edmunds.com, Teslas, Denmark

☆ Elon Musk announces Tesla will unveil a ‘robotaxi’ on August 8
▼ + stars: | 2024-04-05 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

But Musk, on a Friday afternoon, when companies tend to bury news, announced on X that Tesla would unveil its robotaxi on August 8. “Tesla Robotaxi unveil on 8/8,” the Tesla CEO (and owner of X) posted. Musk has said in the past that Tesla will make a car without controls for a human to use. Musk has said the system will one day make Tesla cars incredibly valuable. Cruise has paused its testing work after one of its self-driving cars hit and dragged a pedestrian.

Persons: CNN — Elon Musk, Tesla, “ Tesla, Musk, ” Musk, ”, Kelly Funkhouser, she’s, “ You’re, “, Cruise, Waymo Organizations: CNN, Tesla, Consumer, Department of Justice

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