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☆ Elon Musk isn't even close to being done with his 'absolutely hard core' slashing of Tesla's headcount
▼ + stars: | 2024-04-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

The layoffs at Tesla aren't over yet, says Tesla CEO Elon Musk. On Monday, he announced the departure of two senior executives and the axing of their divisions. Tesla, Musk said, needs to be "absolutely hard core about headcount and cost reduction." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla CEO Elon Musk says the EV giant is not done with laying people off.

Persons: Elon Musk, Musk, —, — Tesla's, Rebecca Tinucci, Daniel Ho — Organizations: Tesla, Service, The, Business Locations: Tinucci's

☆ Tesla is blaming struggling EV sales on hybrid craze
▼ + stars: | 2024-04-23 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Tesla is blaming hybrids for stealing EV sales. Inexpensive hybrid cars have become a popular choice for green-car shoppers. That's a real problem for Tesla, which doesn't sell hybrids. In the opening page of its first-quarter earnings presentation Tuesday, Tesla blamed an industry-wide prioritization of these partially battery-powered cars for putting pressure on global EV sales and — by extension — Tesla's sales. After years of wealthy early adopters clamoring for expensive new technology, today's EV shopper is more frugal and practical — and more interested in hybrid models that fit their everyday needs.

Persons: Tesla, —, Elon Musk's Tesla, Tesla's Organizations: Service, Toyota, Musk's EV

☆ Justin Bieber, Steve Aoki, and Jay-Z have all been spotted with Tesla's Cybertruck. Here's a list of the celebs flexing the new status vehicle.
▼ + stars: | 2024-03-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Celebrities including Kim Kardashian, Jay-Z, and Justin Bieber are flaunting Tesla's Cybertruck. Celebs have been spotted taking the truck to concerts, church, and through downtown Miami. Here's a list of celebrities that have been spotted with Tesla's Cybertruck. Kim Kardashian, Jay-Z, and Justin Bieber have all been spotted with the truck in recent weeks. This story is available exclusively to Business Insider subscribers.

Persons: Kim Kardashian, Jay, Justin Bieber, Tesla's Cybertruck, —, Cybertruck, Steve Aoki, Elon Musk, Tesla Organizations: Service, Elon, Business Locations: Miami

DETROIT (AP) — Tesla's net income more than doubled last quarter on a one-time tax benefit, even as electric vehicle price cuts and slowing sales growth cut into profits. But excluding one-time items such as the $5.9 billion noncash tax benefit for deferred tax assets, the company made $2.49 billion, or 71 cents per share. Tesla reported quarterly revenue of $25.17 billion, up 3% from a year earlier but also below analyst estimates of $25.64 billion. Political Cartoons View All 253 ImagesTesla's sales growth rate was slower than previous quarters. As usual, the bulk of Tesla’s sales were its lower-priced Models 3 and Y.

Persons: FactSet, Tesla, Elon Musk Organizations: DETROIT Locations: Austin , Texas, U.S

☆ Another sign that the future of EV buying is leasing: Rivian leases its $73,000 truck
▼ + stars: | 2023-11-28 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Rivian has made its R1T electric pickup available to lease in 14 US states. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWould-be EV drivers have turned to leasing as a cheaper way to try before they buy, especially considering the high price of many electric vehicles . The Cybertruck, however, will pose a fresh challenge to Rivian's R1T pickup. The futuristic Tesla pickup is set to launch on November 30 after years of hype, with over 2 million people preordering the electric pickup .

Persons: Rivian, Elon Musk's, —, Tesla's, — Tesla's, RJ Scaringe, it's Organizations: Elon, Elon Musk's Cybertruck, Service, CNBC, Leasing, Ford, Tesla, Rivians, GQ Locations: Arizona , California , Colorado , Florida, Georgia , Massachusetts, Michigan , Missouri , New Jersey , New York , Nevada , Pennsylvania, Texas, Washington

Earnings per share fell to 53 cents from 95 cents. Excluding stock-based compensation, Tesla’s adjusted net income fell to $2.32 billion, or 66 cents per share. On that basis, Tesla’s earnings fell short of analysts’ consensus estimate of 73 cents per share, according to FactSet. The discounts range from $4,400 on Tesla’s top-selling vehicles to as much as $20,000 on its most expensive models. As usual, Tesla’s third-quarter sales consisted primarily of its Model 3 and Model Y vehicles, which have been made even more attractive by lowered prices.

Persons: Tesla Organizations: ANGELES, FactSet, Analysts, Research Locations: Austin , Texas, Tesla’s

DETROIT – Ford Motor will partner with Tesla on charging initiatives for its current and future electric vehicles in an unusual tie-up between the two rivals, CEOs of the automakers announced Thursday. Under the agreement current Ford owners will be granted access to more than 12,000 Tesla Superchargers across the U.S. and Canada, starting early next year, via the use of an adapter. And, Ford's next-generation of EVs — expected by mid-decade — will include Tesla's charging plug, allowing owners of Ford vehicles to charge at Tesla Superchargers without an adapter, making Ford among the first automakers to explicitly tie into the network. A Ford spokesman said the company has "this option available to us but have no news to share today." A separate Ford spokesman told CNBC that pricing for charging "will be competitive in the marketplace."

☆ 10 Things in Tech: Best side hustles, Tesla Roadsters, and ChatGPT stylist
▼ + stars: | 2023-05-08 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

After just a few short years of hype, the metaverse is already headed for the graveyard of failed tech ideas. The metaverse, according to Zuckerberg, was supposed to be the next evolution of the internet and our tech lives. But the rise and fall of the metaverse can teach us some important lessons about the tech industry as a whole. All the tech companies citing AI in their layoff announcements. Many major tech companies like Google and IBM even mentioned AI in their layoff announcements.

☆ Watch: Hyundai revealed a one-armed robot that charges your electric car for you
▼ + stars: | 2023-03-23 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

Hyundai developed an automatic charging robot that plugs in your electric car for you. The robot uses a camera and AI to find a car's charging port and plug it in. To make that vision a reality, the Korean automaker developed an "automatic charging robot" (ACR) that takes care of the nitty gritty parts of charging for you. Then, using a camera and artificial intelligence, the ACR guides the charging plug into the right spot and charging begins. Hyundai's automatic charging robot inserts a charging plug into the Ioniq 6 sedan.

☆ Tesla has declared a price war on electric-vehicle and traditional automakers alike. There are signs Elon Musk's company is making early gains.
▼ + stars: | 2023-03-09 | by ( George Glover | Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

The automaker has slashed Model 3, Model Y, Model X, and Model S prices in 2023. While it's too soon to call a winner in the price war, there are signs Tesla is making early gains. Tesla also lowered prices for its Model S sedan and Model X SUV in January, then reduced them again in early March. The basic Model S now retails at $89,990, down 14% from the start of the year, while the entry-level Model X costs $99,990, down 17%. "Price cuts also annoy customers," Caspar Rawles, the chief data officer at Benchmark Mineral Intelligence, a price-reporting agency, told Insider.

☆ Tesla just started an electric car price war, and it's bad news for Ford and GM
▼ + stars: | 2023-01-13 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Tesla has discounted its Model 3 and Model Y cars by up to 20% in a bid to goose sales. The starting price of a Model S also dropped nearly 10%, while the Model X is down 9%. Once a luxury item, Tesla's vehicles will now compete with EVs marketed to more average car buyers. Ford recently hiked the starting price on its F-150 Lightning electric truck to $56,000, up from the original starting price of $40,000. The electric car company has long resisted traditional auto industry discounts, and Musk has even criticized the practice in the past.

☆ Stocks making the biggest moves midday: Disney, Tesla, Mesa Air and more
▼ + stars: | 2022-12-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves midday Monday:Disney — Disney fell 3.6% after its film, "Avatar: The Way of the Water" fell short of box office expectations. The highly-anticipated movie brought in $134 million, less than the $175 million expected by analysts and under the $135 million to $150 million range Disney had forecast. Casino operators — Wynn Resorts fell 4.2%, while MGM Resorts lost 2.9% and Las Vegas Sands dropped 1.6%. Mesa Air Group — Shares of the airliner jumped 5% after Mesa Air announced it is finalizing a deal to run regional flights for United Airlines, while ending its partnership with American Airlines. Warner Music Group — Shares gained 2.5% following an upgrade to overweight from Atlantic Equities.

☆ Stocks making the biggest moves midday: Netflix, Lululemon, DocuSign and more
▼ + stars: | 2022-12-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:Lululemon — Shares of Lululemon fell 12% after the athletic apparel company gave a weaker-than-expected fourth-quarter outlook. Broadcom — Broadcom gained 3.1% after giving an upbeat revenue forecast and reporting better-than-expected quarterly results after the bell Thursday. Netflix — Netflix gained 5% after being named a "best idea" for 2023 by Cowen and being upgraded by Wells Fargo to overweight from equal weight. DocuSign — Shares of DocuSign jumped 16% after the electronic signature company posted upbeat quarterly results. Bath & Body Works — Shares of Bath & Body Works gained rose 2.1% after activist investor Dan Loeb boosted his stake in the retailer.

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