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☆ Tesla Slashes Prices in China After Deliveries Slump
▼ + stars: | 2023-01-06 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

HONG KONG— Tesla Inc. made the steepest price cuts so far on its Model 3 and Model Y cars sold in China, after deliveries of its Shanghai-made cars plunged in December to cap a challenging year globally for the electric-vehicle maker. Prices for Tesla’s two most popular electric car models—made at its Shanghai gigafactory—will be reduced by between roughly 6% and 13%, the U.S. car maker said on Chinese social media Friday. Including the latest discounts, Model Y prices now start at the equivalent of around $37,000. The Model 3 starts at roughly $32,700, more than 30% cheaper than the price of a standard Model 3 selling on Tesla’s U.S. website.

☆ Tesla’s China Deliveries Fell Sharply in December Despite Discounts
▼ + stars: | 2023-01-05 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

Hong Kong— Tesla Inc. delivered far fewer China-made electric vehicles in December than in November and the company has extended discounts for another two months during a period of weakening demand. Tesla delivered almost 55,800 Model 3 and Model Y vehicles from its Shanghai gigafactory during the last month of 2022—a figure that includes exports—according to data released Thursday by the China Passenger Car Association.

☆ Tom Zhu: Elon Musk’s right-hand man at Tesla
▼ + stars: | 2023-01-04 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Tesla’s China chief has reportedly been given a big promotion. Tom Zhu, Tesla's executive in charge of China, speaks as a new Tesla experience store opens near West Lake on August 18, 2015 in Hangzhou, China. Zhu joined Tesla in 2014 and has been described as “pragmatic,” “industrious” and “a workaholic” by the Chinese media. Aerial view of Tesla Shanghai Gigafactory at Lingang New Area on July 11, 2021 in Shanghai, China. Tesla’s China successZhu’s reported promotion came after an impressive performance by Tesla’s China operations.

☆ The $360 billion electric car battery market will determine the fate of electric vehicles
▼ + stars: | 2023-01-03 | by ( Alexa St. John | ) www.businessinsider.com time to read: +14 min

There's also money to be made: The EV battery market could hit $360 billion by 2030, according to McKinsey. At Insider, we've looked at white-hot EV battery technologies that give automakers the EV performance they need at the price their customers want. We've investigated how automakers are securing enough battery supply, especially amid the call for domestic sourcing brought on by requirements in President Joe Biden's climate bill. It just led a $400 million investment into the little-known EV battery startup that could make it work. The soon-to-be $339 billion battery industry is on a hiring tear to power the shift to electric cars.

☆ Tom Zhu, who reportedly just became Tesla's 2nd most-powerful exec, slept at a Chinese factory during COVID lockdown — a habit he shares with CEO Elon Musk
▼ + stars: | 2023-01-03 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Reuters reported Tuesday that Tesla has made executive Tom Zhu head of US plants and sales. The role effectively makes Zhu Tesla's second-most powerful executive after Elon Musk. Like Musk, Zhu has a habit of sleeping overnight in Tesla facilities, according to Reuters. Like Musk, Zhu's committment to Tesla has extended to overnight stays in Tesla facilities in the past. Zhu reportedly slept in Tesla's Shanghai Gigafactory alongside other employees during the city's two-month COVID-19 lockdowns last year, in an effort to keep the plant running, per Reuters.

☆ Tom Zhu: China boss is now highest-profile Tesla executive after Elon Musk
▼ + stars: | 2023-01-03 | by ( ) edition.cnn.com time to read: +4 min

The move makes Zhu the highest-profile executive at Tesla after Elon Musk, with oversight for deliveries in all of its major markets and all of its production outside the still-ramping Tesla plant in Germany. Under Zhu, Tesla’s Shanghai plant rebounded strongly from Covid lockdowns in China. Tesla country managers in China, Japan, Australia and New Zealand continued to report to Zhu, the notice showed. Sleeping roughZhu, who was born in China but now holds a New Zealand passport, joined Tesla in 2014. Tesla board member James Murdoch said in November the company had recently identified a potential successor to Musk without naming the person.

☆ Tesla makes China boss Tom Zhu its highest-profile executive after Elon Musk
▼ + stars: | 2023-01-03 | by ( ) www.cnbc.com time to read: +4 min

In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTTom Zhu Xiaotong, Tesla's current executive in charge of China, speaks as a new Tesla experience store opens on Aug. 18, 2015 in Hangzhou, China. The move makes Zhu the highest-profile executive at Tesla after Chief Executive Elon Musk, with direct oversight for deliveries in all of its major markets and operations of its key production hubs. Under Zhu, Tesla's Shanghai plant rebounded strongly from Covid lockdowns in China. Tesla country managers in China, Japan, Australia and New Zealand continued to report to Zhu, the notice showed. Zhu, who was born in China but now holds a New Zealand passport, joined Tesla in 2014.

☆ Exclusive: Tesla makes China boss highest-profile executive after Musk
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +5 min

[1/2] Tesla's China chief Tom Zhu speaks at a delivery ceremony for China-made Tesla Model 3 vehicles in the Shanghai Gigafactory of the U.S. electric car maker in Shanghai, China December 30, 2019. The move makes Zhu the highest-profile executive at Tesla after Chief Executive Elon Musk, with direct oversight for deliveries in all of its major markets and operations of its key production hubs. Under Zhu, Tesla's Shanghai plant rebounded strongly from COVID lockdowns in China. Tesla country managers in China, Japan, Australia and New Zealand continued to report to Zhu, the notice showed. Zhu, who was born in China but now holds a New Zealand passport, joined Tesla in 2014.

Dec 22 (Reuters) - Tesla (TSLA.O) Chief Executive Officer Elon Musk said on Thursday he will not sell any more Tesla stock for about two years. His comments came after a Tesla stock sell-off deepened on Thursday over worries about softening demand for electric cars and Musk's distraction with Twitter and his stock sales. "I won't sell stock until I don't know probably two years from now. Musk has previously made promises about not selling Tesla stock before subsequently selling it. "(Twitter) is maybe 10% of the complexity of Tesla," Musk said.

☆ 7 up-and-coming battery makers vying for the $370 billion electric commercial vehicle business
▼ + stars: | 2022-12-22 | by ( Andrew Moseman | ) www.businessinsider.com time to read: +6 min

The global electric commercial vehicle market is expected to top $370 billion in annual revenue by 2030. With a flood of new battery-powered autos set to transform the business of building passenger vehicles, it was natural that commercial vehicles would be next. The global electric commercial vehicles market is expected to surpass $370 billion in annual revenue by 2030, according to Guidehouse Insights. It also has its toes deep into electric mobility, building batteries not only for EVs but also electric buses, boats, and trucks. Now, through internal changes and acquisitions, BorgWarner is positioning itself for the electrified future, especially as that future comes to commercial vehicles.

Dec 22 (Reuters) - Tesla (TSLA.O) Chief Executive Officer Elon Musk said on Thursday he will not sell any more Tesla stock for another two years. Musk has previously made promises about not selling Tesla stock before subsequently selling it. "I needed to sell some stock to make sure, like, there's powder dry...to account for a worst case scenario," the billionaire said. Musk said that Tesla is close to picking the location of its new "Gigafactory." "(Twitter) is maybe 10% of the complexity of Tesla," Musk said.

☆ Factbox: Tesla's key managers in China
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +3 min

Here is a look at Zhu and other key China managers who have helped Tesla’s Shanghai factory roar back from lockdowns to bring the electric vehicle maker close to its global growth targets for the year. TOM ZHUZhu, who was born in China but now holds a New Zealand passport, joined Tesla in 2014. Lankton later hired Zhu to take charge of Tesla's charging facility construction in China, according to one of the people who is close to Zhu. The moves boosted Tesla's sales in China, and its revenue from China more than tripled in 2016 from 2015. SONG GANGSong Gang has been plant manager of Giga Shanghai since 2018.

Tesla did not respond to written requests for comment from Reuters sent to its Shanghai and global media relations accounts. Under Zhu, Tesla Shanghai rebounded strongly from lockdowns this year to bring Tesla close to its growth target for 2022 of 50% production growth. Among the projects the Shanghai team have worked on is Tesla's long-delayed Cybertruck, its next new model, a third person said. However, Zhu's colleagues in Shanghai believe he is in line for a more senior and wider-ranging role at Tesla, the two people said. The plant has excelled in applying cost-saving, factory-floor innovations for Tesla, including the use of massive casting machines to simplify production.

☆ Tesla may announce Mexico plant in coming days - report
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Dec 19 (Reuters) - Electric carmaker Tesla (TSLA.O) could announce the construction of a "Gigafactory" in the northern Mexican state of Nuevo Leon as soon as Friday, local newspaper Reforma reported Monday. The initial investment is projected at between $800 million and $1 billion, sources told the newspaper. A source told Reuters then that Musk had met with Nuevo Leon Governor Samuel Garcia and U.S. The Mexican Gigafactory, planned on the outskirts of the city Monterrey, would start by building components for current Tesla models, a source told Reforma, later possibly building a new model at a lower cost than other factories. Mexican Foreign Minister Marcelo Ebrard said earlier this month that Musk had toured three states in Mexico scouting locations for the factory.

☆ Tesla may announce $800 mln to $1 bln in Mexico plant in coming days - report
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

The total investment, taking into account future expansions, could eventually reach $10 billion, sources told the newspaper. The announcement would follow Chief Executive Elon Musk's visit to the state, which borders Texas, in October. A source told Reuters then that Musk had met with Nuevo Leon Governor Samuel Garcia and U.S. A federal official told Reuters Tesla would announce news of its planned investment when it was ready to do so, but that it would not necessarily be before Christmas. Mexican Foreign Minister Marcelo Ebrard said earlier this month that Musk had toured three states in Mexico scouting locations for the factory.

☆ Tesla to search for water in quest to expand German gigafactory
▼ + stars: | 2022-12-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

BERLIN, Dec 14 (Reuters) - Tesla (TSLA.O) plans to drill for new water sources to supply an expansion of its electric vehicle plant near Berlin, according to local authorities and water associations, the latest move by the carmaker to jump-start German bureaucracy. A local environmental ministry spokesperson said Tesla was in touch with local authorities but an application had not yet been filed. If the carmaker finds new water sources, it must still apply for the licence to use them, a spokesperson for the local environmental ministry said. It does what it wants, and it'll do the same with the water it finds," said Michael Ganschow, head of local environmental organisation Gruene Liga. "That could take a very long time," said Joachim Schroeder, representative of Spreenhagen, one of the areas Tesla wants to explore – "unless Tesla takes over, of course, and does it at Tesla-speed."

☆ EU Delays Labeling Lithium Toxic as Concerns From EV Industry Mount
▼ + stars: | 2022-12-12 | by ( Yusuf Khan | ) www.wsj.com time to read: +4 min

Last week, the European Commission was set to give a final ruling on whether lithium, a crucial battery input, should be classified as a toxic substance. Europe’s nascent battery companies are warning that investors may be drawn away from the continent to the U.S. where the IRA has created strong incentives to establish supply chains in the country. So far, within the European battery industry, Sweden’s Northvolt AB has been one of the few victories for the EU. She said the EU should “simplify and adapt” its rules that limit state funding to make it easier for public investments. For those looking to establish European battery production, the EU’s position on electric vehicles remains confusing.

☆ Volkswagen postpones decision on gigafactory in eastern Europe beyond 2022
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

PRAGUE/FRANKFURT, Dec 8 (Reuters) - Volkswagen AG (VOWG_p.DE) is postponing its decision on where to locate a planned gigafactory for electric car batteries in eastern Europe beyond 2022, the carmaker said on Thursday, pointing to the current economic environment. "Volkswagen AG and its battery company PowerCo are continuously evaluating suitable sites for their next gigafactory in Europe," Volkswagen said in e-mailed comments. "There is no pressure to act as we take some more time for decision making in light of current circumstances," Volkswagen said. "At present, there is no impact on planned start of construction or start of production." Volkswagen's planned battery cell plant in eastern Europe would be the fourth under its plan to build six such sites across Europe by the end of the decade.

☆ Volkswagen postpones decision on gigafactory in eastern Europe by several months -CTK news agency
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: 1 min

PRAGUE, Dec 8 (Reuters) - Volkswagen AG (VOWG_p.DE) postponed its decision on the placement of a gigafactory for electric car batteries in eastern Europe by several months, CTK news agency reported on Thursday. The Czech Republic has been among the locations considered for the plant which should start producing batteries in 2027. Reporting by Robert Muller; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Musk taps Tesla's China chief to run Texas gigafactory - Bloomberg News
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

Dec 8 (Reuters) - Tesla Inc (TSLA.O) chief Elon Musk has roped in longtime executive and the company's president in China, Tom Zhu, to help run the carmaker's new plant in Austin, Texas, Bloomberg News reported late on Wednesday. Zhu, who joined Tesla in 2014 and is heading Tesla's Asia Pacific operations, is in Austin this week. He has brought some of his engineering team from China with him to assist in overseeing the ramp-up of Giga Texas, the report said, citing people familiar with the matter. Giga Texas, which opened earlier this year, makes the Model Y and will produce Tesla's upcoming Cybertruck. It is not clear whether Zhu will retain his Asia responsibilities or for how long he will be in Austin, Bloomberg added.

☆ Tesla's German gigafactory is in 'total chaos' due to staff shortages, report says
▼ + stars: | 2022-12-07 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

Tesla is struggling to recruit and retain enough staff at its German gigafactory, Wired reported. The Berlin plant is falling behind on production goals, leaving it in "total chaos," per the report. One worker told Wired: "Many people are signed off sick because the motivation isn't there." One anonymous worker told the publication that the plant was in "total chaos" due to staffing issues. Union representatives told Wired that Tesla's recruitment and retention problems reflected the company's reputation as an unattractive employer in Germany's heavily-unionized automotive sector.

So far the practical help for a project that will create around 1,000 jobs, has come from the Europe Union. It also says its panels are better and that 3Sun will be the European Union's largest producer of high performance bifacial solar panels by 2024. Eurostat figures show around three quarters of Europe's solar panels are sourced from China. The European Union as a whole aims to reach almost 600 gigawatts (GW) of solar energy by 2030 and the number of installations is increasing. Enel is not limiting its ambitions to Europe, although it says at least 50% of its Sicilian production will be for the continent.

☆ Stocks making the biggest moves midday: Tesla, VF Corp, Marriott, MGM and more
▼ + stars: | 2022-12-05 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

United Airlines , Delta Airlines – United gained 4% following a Morgan Stanley upgrade to overweight from equal weight on the notion that 2023 could be a "goldilocks" year for the airline. Silvergate Capital — Shares dropped more than 5% after Morgan Stanley downgraded the crypto bank to underweight from equal weight, saying there is more revenue pressure following the FTX fallout. Signature Bank — The stock declined more than 7% after Morgan Stanley downgraded it to equal weight from overweight. Morgan Stanley expects funding costs to jump "significantly" over the next several quarters as Signature works to retain deposits from customers. Many Chinese stocks pared earlier gains, however, as the broader market sold off amid fears of aggressive monetary tightening.

☆ Tesla CEO Elon Musk kicks off first Semi truck deliveries
▼ + stars: | 2022-12-01 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

Tesla CEO Elon Musk kicks off deliveries of the company's heavy-duty truck, the Semi, at the Gigafactory in Sparks, Nevada. Tesla CEO Elon Musk kicked off deliveries of the company's first few production Semi trucks on Thursday, speaking on stage at the company's factory in Sparks, Nevada, with Dan Priestly, the company's senior manager for Semi truck engineering. He later thanked and the handed the mic to representatives from PepsiCo Frito Lay , which is Tesla's first customer to receive and use production Semi trucks. While the Tesla Semi was in development, other fully electric heavy-duty trucks launched into the market. The new fast-charging tech will eventually be installed at Tesla SuperCharging stations and used to power up Cybertrucks, the consumer pickup truck Tesla is planning, Musk revealed.

☆ Tesla plans to ramp up Model Y production from Giga Texas in 2023 - Electrek
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

Nov 30 (Reuters) - Tesla Inc (TSLA.O) is planning to ramp up production of its Model Y cars from Gigafactory Texas next year, Electrek reported on Wednesday. The electric-vehicle manufacturer is currently preparing to roll out 75,000 Model Y vehicles from Gigafactory Texas in the first quarter of 2023, according to the report. Tesla did not immediately respond to a Reuters request for comment. Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

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