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☆ Just Eat delivers right takeaway orders, finally
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 18 (Reuters Breakingviews) - Food delivery boss Jitse Groen has started the new year with a glimpse of hope. Pleasing investors after a round of missteps, the Dutch company also forecast a higher-than-expected EBITDA of 225 million euros this year. The 5.6 billion euro ($6 billion) group’s results point to a brighter future than what Just Eat experienced in 2022. Less than a year after acquiring U.S. rival Grubhub, Groen made a U-turn by putting it up for sale and writing down the value of the division by 3 billion euros. All this happened while investors started to lose faith in the high-growth low-profit food delivery sector: Just Eat Takeaway lost 60% of its market value last year.

☆ Lufthansa offers Alitalia heir last chance to fly
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

MILAN, Jan 18 (Reuters Breakingviews) - Lufthansa’s (LHAG.DE) boss Carsten Spohr is trying to catch Alitalia’s successor before it crashes. But Italian media and sources familiar with the situation have said the Germans could inject 300 million euros for a 40% stake. That would value ITA at 750 million euros, much less than the lofty 1.2 billion euro valuation that shipping giant MSC, a former Lufthansa ally, was prepared to pay a year ago. Bidders for Alitalia and its successor have come and gone, contributing to the Italian state burning over 10 billion euros of taxpayers’ money in multiple bailouts. Lufthansa, which considers Italy an attractive tourist market, could revamp the smaller carrier by linking it to its network of global routes.

☆ Activist investing cries out for some pushback
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

The number of aggressive investing campaigns led by firms such as Paul Singer’s Elliott Management and Nelson Peltz’s Trian Fund Management swelled last year, including from a record arrival of rookie practitioners. It represents a 36% increase from 2021 and the busiest year since 2018, when there were 249. There were also 55 first-time activists last year, who initiated more than a third of the campaigns. If the result is no better than a coin flip, it gives shareholders and boards fresh reason to question an activist’s arrival. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ UK’s giga fail is economic not environmental
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

The collapse of a key battery manufacturer probably doesn’t compromise the government’s plan for the country to switch to electric vehicles. Its failure, however, knocks some 30 gigawatt hours out of Britain’s future battery manufacturing industry, over half of Britain’s forecast capacity by 2030 according to the Faraday Institution. The government’s plans to phase out new sales of internal combustion engines by 2030 can probably survive, thanks to imports from the likes of China’s BYD (002594.SZ), (1211.HK). But boosting battery production for a domestic industry will be hard, given Britain’s lack of raw materials and trade barriers with Europe. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Tesla plans to spend more than $770 million on Texas factory expansion
▼ + stars: | 2023-01-10 | by ( Lora Kolodny | ) www.cnbc.com time to read: +1 min

A giant cowboy boot is on display outside the Tesla Giga Texas manufacturing facility during the "Cyber Rodeo" grand opening party on April 7, 2022 in Austin, Texas. Tesla has registered with the state of Texas to expand its electric vehicle factory in Austin this year. January filings with the Texas Department of Licensing and Registration reveal that Tesla plans to spend upwards of $770 million on the construction of facilities there, including for battery cell testing and manufacturing, cathode and drive unit manufacturing, and a die shop, among other things. The Elon Musk-led automaker officially opened its Texas electric vehicle and battery factory in April 2022, hosting a "cyber rodeo" party for shareholders and fans there. Today, Tesla manufactures some of its Model Y crossover utility vehicles in Austin, and plans to mass-manufacture its science fiction inspired Cybertruck, an unconventional pickup, there as well.

☆ Elon Musk must do these 10 things to turn Tesla stock around in 2023, says Wedbush's Dan Ives
▼ + stars: | 2022-12-29 | by ( Brian Evans | ) www.businessinsider.com time to read: +3 min

Wedbush's Dan Ives listed 10 steps for Elon Musk to take to turn Tesla stock around in the new year. Among the steps are naming a new CEO of Twitter by the end of January and Tesla stock buybacks. "The 50% growth target is not happening in our opinion, with 35%+ delivery growth a more hittable and realistic goal for 2023." Issue a Tesla stock buyback. "Right now very simply the fear is Twitter is bleeding money with advertisers fleeing (for now) which means more losses and therefore more Musk TSLA stock sales.

☆ 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 shares have fallen 28% since Elon Musk took over Twitter, lagging other carmakers
▼ + stars: | 2022-12-13 | by ( Lora Kolodny | ) www.cnbc.com time to read: +4 min

CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing "Cyber Rodeo" grand opening party in Austin, Texas, on April 7, 2022. U.S. electric truck maker Rivian has fallen by 27% over that period. Shares in electric vehicle maker Tesla have fallen 28% since October 27, when CEO Elon Musk bought Twitter and appointed himself "Chief Twit," or CEO, of the social media business. Musk sold billions of dollars' worth of his Tesla holdings to finance the Twitter takeover. Since he took over the company, Musk has been regularly posting incendiary tweets, especially aimed at people who hold center-to-left political values, and whom Musk often paints as enemies with a "woke mind virus."

☆ 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 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.

☆ Exclusive: Tesla readies revamped Model 3 with project 'Highland' -sources
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +6 min

[1/2] A Tesla Model 3 sedan, its first car aimed at the mass market, is displayed during its launch in Hawthorne, California, U.S. March 31, 2016. Tesla’s Shanghai Gigafactory will put the redesigned Model 3 into production in the third quarter of 2023, they said. CHANGE YOU CAN SEEThe redesign for the Model 3 builds on the revamp of the Model S -- Tesla’s premium EV sedan -- that was released last year. The Model 3, Tesla’s cheapest EV starting at just under $47,000 in the United States, had been the automaker’s best-seller but is being overtaken by the Model Y crossover. KEEP IT SIMPLEMusk has pushed a simplified approach to design and production at Tesla that the Highland project extends, said the people with knowledge of the development.

☆ Retailers acclerate shift to forest friendly fibres at COP27
▼ + stars: | 2022-11-14 | by ( Virginia Furness | ) www.reuters.com time to read: +2 min

REUTERS/Maxim ShemetovLONDON, Nov 14 (Reuters) - Retailers including H&M (HMb.ST), Kering <PRTP.PA and Inditex (ITX.MC) will purchase over half a million tonnes of low-carbon alternative fibres for clothing and packaging to help reduce global emissions, they said Monday. The announcement by 30 retailers coincides with COP27 climate talks taking place in Egypt until the end of this week to seek to step up ambition on curbing global warming. Retailers agreed to purchase 550,000 tonnes of alternative fibres - made from waste textiles and agricultural residues instead of forest fibres - which will prevent the release of around 2.2 million tonnes of greenhouse gas emissions, NGO Canopy, which convened the group, said. Lower carbon fibres make up a tiny fraction of the 7.5 million tonnes of man-made fibres produced each year, which Rycroft said was in part because of the challenge of accessing finance to scale new technologies. The agreement will help to unlock finance for 10-20 low footprint pulp mills to produce these alternative fibres by securing offtake aggrements from retailers, Canopy said.

☆ Elon Musk's righthand man at Tesla has reportedly joined SpaceX after the electric-car maker launched an investigation into the top lieutenant
▼ + stars: | 2022-11-10 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk has brought in Omead Afshar to help lead Starship production, Bloomberg reported. In July, Tesla was reportedly investigating Musk's righthand man after he authorized the purchase of construction materials that the system flagged as items that could be for Elon Musk's personal use. At the time, Tesla had already terminated several employees as a result of the investigation and Bloomberg reported Afshar was likely to leave the company next. Though, David Searle — the legal chief that was reportedly investigating Afshar — left the company in August, Bloomberg reported. Do you work at Tesla, SpaceX, or have insight to share?

☆ Cryptoverse-Elon Musk frees the bird and the dog coin flies
▼ + stars: | 2022-11-08 | by ( Vidya Ranganathan | ) www.reuters.com time to read: +4 min

Elon Musk's acquisition of Twitter has put fresh wind in the sails of dogecoin, the meme cryptocurrency he catapulted to fame. It was trading at about $0.07 on Oct. 27 before Musk tweeted "the bird is freed" to announce his ownership. Not bad for a coin that was created as a "joke" satirizing wild speculation in the crypto market and named after an internet meme of a Shiba Inu dog. Its share of the $1 trillion global crypto market cap through the year until the end of October was 1%, a fraction of bitcoin's 39%, according to CoinMarketCap. Bets that Musk may allow crypto payments with dog tokens were kindled by his tweet last week of a picture of the Shiba Inu dog wearing a Twitter T-shirt.

☆ EXCLUSIVE Tesla plans mass production start for Cybertruck at end of 2023-sources
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

Tesla said last month that it was working on readying its Austin, Texas plant to build the new model with “early production” set to start in the middle of 2023. “We’re in the final lap for Cybertruck,” Musk told a conference call with financial analysts. CRACKED WINDOWSMusk introduced Cybertruck in a 2019 reveal where the vehicle’s designer cracked the vehicle’s supposedly unbreakable “armor glass” windows. The company has pushed back production timing three times since: from late 2021 to late 2022, then to early 2023 and most recently to the mid-2023 target for initial production. Musk said then the company had "more orders of the first Cybertrucks than we could possibly fulfill for three years after the start of production."

☆ Exclusive: Tesla plans mass production start for Cybertruck at end of 2023
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

Nov 1 (Reuters) - Tesla (TSLA.O) aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck Chief Executive Elon Musk unveiled in 2019, two people with knowledge of the plans told Reuters. Tesla said last month that it was working on readying its Austin, Texas plant to build the new model with “early production” set to start in the middle of 2023. “We’re in the final lap for Cybertruck,” Musk told a conference call with financial analysts. The company has pushed back production timing three times since: from late 2021 to late 2022, then to early 2023 and most recently to the mid-2023 target for initial production. In January, Musk had cited shortages in sourcing components as the reason for pushing the launch of Cybertruck into 2023.

☆ Elon Musk now owns Twitter. Here are the busy billionaire's 4 other companies and what they all do.
▼ + stars: | 2022-10-28 | by ( Hannah Towey | ) www.businessinsider.com time to read: 1 min

Elon Musk is best known as the co-founder and CEO of Tesla, which he helped start in 2003. The automaker has since designed seven electric vehicle models, four of which are currently in production. CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing "Cyber Rodeo" grand opening party on April 7, 2022 in Austin, Texas. SUZANNE CORDEIRO/AFP via Getty Images

☆ Flying taxis, robotic avatars and holograms — Saudi Arabia pushes ahead with its sci-fi city vision
▼ + stars: | 2022-10-25 | by ( Emma Procter | ) www.cnbc.com time to read: +6 min

The future Site of the city Neom, a planned cross-border city, stands empty before development begins in the Tabuk Province of northwestern Saudi Arabia, December 18, 2019. NEOM political map of the 500 billion dollar megacity project in Saudi Arabia along the Red Sea coast. Granger's firm has been working closely with Neom and she believes the view of Saudi Arabia among the business community has changed inexorably. The aim is to transform and grow the kingdom's media industry — another key focus of the Vision 2030 plan. Visitors watch a 3D presentation during an exhibition on 'Neom', a new business and industrial city, in Riyadh, Saudi Arabia, October 25, 2017.

☆ Exclusive: Toyota scrambles for EV reboot with eye on Tesla
▼ + stars: | 2022-10-24 | by ( Norihiko Shirouzu | ) www.reuters.com time to read: +6 min

As part of the review, Toyota is considering a successor to its EV-underpinning technology called e-TNGA, unveiled in 2019. TESLA AS BENCHMARKThe review was triggered in part by the realisation by some Toyota engineers and executives that Toyota was losing the factory cost war to Tesla on EVs, the sources said. Toyota designed e-TNGA so that EVs could be produced on the same assembly line with gasoline cars and hybrids. The person leading Toyota's EV review is Shigeki Terashi, former chief competitive officer, according to six people with knowledge of the work, including two people close to Toyota. The recognition within Toyota, the world's biggest automaker, that Tesla has set a new benchmark for EV manufacturing costs marks a major reversal.

☆ Euro zone likely entering recession as price rises hit demand -PMI
▼ + stars: | 2022-09-23 | by ( Jonathan Cable | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com Register"The third decline in a row for the euro zone PMI indicates business activity has been contracting throughout the quarter. A reuters poll earlier this month gave a 60% chance of a recession in the euro zone within a year. read morePRICE PRESSURESOverall demand in the euro zone fell to its lowest since November 2020, when the continent was suffering a second wave of COVID-19 infections. The new business PMI fell to 46.0 from 46.9. The euro zone services PMI fell to 48.9 from 49.8, its second month sub-50 and the lowest reading since February 2021.

☆ Fabrica Tesla din Germania, fără apă pentru că nu a plătit facturile
▼ + stars: | 2020-10-16 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Wasserverband Strausberg-Erkner a transmis presei că Tesla a primit notificări repetate și chiar a avut o perioadă de 14 zile în care putea să-și achite facturile, însă acest lucru nu s-a întâmplat, așa că a luat decizia să oprească furnizarea apei, scrie digi24.ro. Compania a precizat că producătorului auto american îi va fi livrată apa din nou atunci când va face dovada plății. „Notificarea de 14 zile a expirat. Deocamdată este neclar cum va afecta sistarea apei producția de mașini Tesla, în fabrica de lângă Berlin. Compania încă nu a precizat dacă a făcut plata sau când are de gând să facă acest lucru.

Persons: Wasserverband, Tesla, Elon Organizations: american Locations: Grunheide, Europa, Berlin, Brandenburg

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