Elon Musk said on Wednesday that electric vehicle (EV) giant Tesla likely will launch full self-drive technology this year and generate significant profits that offset some of the margin pressure it’s facing due to aggressive price cuts. “I hesitate to say this but I think we’ll do it this year,” said Tesla CEO Musk, speaking … Read more
Used electric vehicle sales in the United States rose 32 percent in the first three months of 2023 as prices fell, data provider Cox Automotive said on Friday. The group said the average retail listing prices for used EVs was around $43,400 (nearly Rs. 35 lakh), down 4 percent from the same quarter last year and … Read more
Elon Musk asked a US judge on Friday to throw out a $258 billion (roughly Rs. 21,20,200 crore) racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin. In an evening filing in Manhattan federal court, lawyers for Musk and his electric car company Tesla called the lawsuit by Dogecoin investors a … Read more
Electric-vehicle maker Lucid Group said on Tuesday it would lay off about 18 percent of its workforce, or around 1,300 employees, to cut costs as part of a restructuring plan. The maker of Air luxury sedan last month forecast 2023 production that fell well short of analysts’ expectations and reported a major drop in orders … Read more
Electric-vehicle maker Lucid Group said on Tuesday it would lay off about 18 percent of its workforce, or around 1,300 employees, to cut costs as part of a restructuring plan. The maker of Air luxury sedan last month forecast 2023 production that fell well short of analysts’ expectations and reported a major drop in orders … Read more
Generative artificial intelligence has become a buzzword this year, capturing the public’s fancy and sparking a rush among Microsoft and Alphabet to launch products with technology they believe will change the nature of work. Here is everything you need to know about this technology. What is Generative AI? Like other forms of artificial intelligence, generative … Read more
Nissan Motor on Monday raised its electrified car sales goals and said it would boost power train production in the United States, as it looks to catch up in a segment dominated by newer automakers such as Tesla. The Japanese automaker was a pioneer in electric vehicles (EVs) with its all-battery-powered Leaf but has struggled … Read more
Elon Musk is about to release the third iteration of his “Master Plan” for Tesla, something he has apparently been working on for almost a year. Why does he bother? The original Master Plan, blogged in 2006 — four years before Tesla listed — read like a standard Silicon Valley bootstrapping pitch: Sell an expensive … Read more
Twitter and Tesla CEO Elon Musk on Sunday said that the past three months have been “extremely tough” as he “had to save Twitter from bankruptcy” while also fulfilling his duties in Tesla and SpaceX. Taking to his official Twitter handle, Musk said that the microblogging site continues to have challenges. Elon Musk tweeted, “Last … Read more
Elon Musk’s team has been exploring using as much as $3 billion in new fundraising to help repay some of the $13 billion in debt tacked onto Twitter for his buyout of the company, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. According to the report, Musk‘s representatives discussed selling … Read more