Tesla battery supplier Panasonic reported its earnings this morning, stating it took a 39 percent drop in first-quarter earnings due to COVID-19 lockdowns in China and rising materials costs. Panasonic said its operating profit for the three-month span ending on June 30 was 63.7 billion yen, or $470.77 million. This missed a consensus estimate of […]
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Tesla (NASDAQ: TSLA) said in its 10-K filing with the SEC earlier this week that it would boost its capital expenditure by $1 billion. The electric automaker now projects it will spend between $6 billion and $8 billion for the next two years. It previously anticipated an expenditure plan of between $5 billion and $7 […]
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Tesla is cutting ties with South Windsor, Connecticut, after the town’s Planning and Zoning Commission unanimously rejected the automaker’s proposal to open a showroom in the town. Direct-to-Consumer sales, which Tesla utilizes to help customers avoid the stressful process of dealing with dealership franchises, are illegal in Connecticut, and two town planners said the showroom […]
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Twitter is urging its shareholders to vote to approve the acquisition of the social media platform by Tesla CEO Elon Musk in a vote on September 13. Twitter filed a 14-A with the SEC on Tuesday that encouraged shareholders to approve the transaction. “Today, we filed a definitive proxy statement in connection with the Special […]
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The German government announced on Tuesday its new plan of financial incentives for electric vehicle purchases. Drivers will no longer receive the same amounts they did previously for purchasing electric cars, as Germany announced it would reduce the amount of money it gives consumers for switching to sustainable powertrains. German politicians said in December that […]
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Tesla announced it has launched a new, in-house Shareholder Platform, which will allow shareholders to participate in events and access exclusive features. This morning, Tesla Tweeted that it was launching a new Shareholder Platform to allow $TSLA investors to participate in Tesla events and “hear more updates soon.” We’re launching the Tesla Shareholder Platform — […]
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Volkswagen of America announced earlier today it has started production of its flagship electric vehicle in the United States, the ID.4, at its factory in Chattanooga, Tennessee. “We’re just starting to write a new chapter for Volkswagen in America, and it is very much an American story,” Thomas Schäfer, Chairman of the global Volkswagen brand, […]
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General Motors (NYSE: GM) reported its earnings for the second quarter of 2022 this morning. The automaker stated that its net income sank 40 percent during Q2 compared to the same quarter in 2021 due to major parts shortages and production bottlenecks. The Detroit-based GM remains committed to its outlook for the full year, affirming […]
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Tesla is close to opening its Supercharger network to other electric vehicles, which could help accelerate electric vehicle adoption in the United States. A new report from the Wall Street Journal reports Tesla is applying for federal funding to expand its Supercharger network, which is the largest EV infrastructure in the world with over 35,000 chargers. […]
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Tesla (NASDAQ: TSLA) revealed in a 10-Q filing with the SEC on Monday morning that it was subpoenaed for a second time in one year by the agency in June in relation to Tweets from the company’s CEO, Elon Musk, who pondered taking the automaker private. “…The SEC had issued subpoenas to Tesla in connection […]
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