Tesla chief executive Elon Musk said Thursday the company will be moving its headquarters from Palo Alto, California, to Austin, Texas, a decision coming in context of the tech billionaire’s turbulent relationship with California. “I’m excited to announce that we’re moving our headquarters to Austin, Texas,” Musk told the company’s annual meeting on Oct. 7,…
Musk Moves Tesla Headquarters from California to Texas
October 8, 2021
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China’s Large-Scale Power Cuts Create Further Chaos in Global Supply Chain
China’s power cuts and blackouts have affected more than 19 provinces, causing factories to shut down and disrupting the global supply chain. Several Apple and Tesla suppliers and companies in the chemical industry suspended their production, which caused the prices of raw materials to soar. Chinese news portal Sohu reported on Sept. 28 that workers…
Tesla Faces Investor Test After Big Jury Award Over Racism
October 6, 2021
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SAN FRANCISCO/BOSTON—A contract worker has won a $137 million jury award over workplace racism against Tesla Inc., raising pressure on the electric vehicle maker whose shareholders will vote on Thursday on a proposal to review how it addresses similar complaints for full-time employees. The nonbinding shareholder resolution asks Tesla’s board to study the impact of…
Federal Jury Orders Tesla to Pay Over $130 Million to Former Worker Over Racism Claims
Tesla has been ordered by a federal jury to pay more than $100 million to a black former worker who claims he was subjected to a “racially hostile” work environment which the company failed to protect him from, the Wall Street Journal reports. Owen Diaz worked as an elevator operator at Tesla’s Fremont, California factory for…
Futures Pressured by Uptick in Yields; Tesla up on Record Deliveries
October 4, 2021
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U.S. stock indexes were set to open lower on Monday as most big technology stocks were pressured by an uptick in Treasury yields, while Tesla shares rose after reporting a record number of electric vehicle deliveries. U.S. Treasury yields have been supported by recent data showing increased consumer spending, accelerated factory activity, and elevated inflation…
Tesla Reports Stronger Than Expected Q3 Sales
PALO ALTO, Calif.—Tesla says it delivered 241,300 electric vehicles in the third quarter even as it wrestled with a global shortage of computer chips that has hit the entire auto industry. The Palo Alto, California, company’s sales from July through September beat Wall Street estimates of 227,000 sales worldwide, according to data provider FactSet. Third-quarter…
Tesla Delivers Record 241,300 Vehicles in Q3, Beats Analysts’ Estimates
October 2, 2021
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Tesla Inc. said on Saturday it had delivered a record 241,300 electric cars in the third quarter, beating Wall Street estimates after Chief Executive Elon Musk asked staff to “go super hardcore” to meet targets. Analysts had expected the electric-car maker to deliver 229,242 vehicles, according to Refinitiv data. Tesla has weathered the chip crisis…
Woman Who Protested Against Tesla at China Auto Show Now Claims Carmaker Is Suing Her
A woman, who jumped on the top of a Tesla car at a Shanghai auto show in April while shouting “brake failure”, has claimed she is now being sued by the electric carmaker for 5 million yuan ($750,000). The woman said via her Weibo social media account on Sept. 27 that Tesla is suing her for…
Lucid to Start Deliveries of Electric Cars With Range Exceeding Tesla’s in October
September 29, 2021
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CASA GRANDE, Ariz.—U.S. startup Lucid Group Inc., said on Tuesday it will start delivering luxury electric sedans with a Tesla-beating driving range in late October, posing a major challenge to the market leader whose sales of premium models have stagnated. The California-based Lucid began production of its long-delayed Lucid Air cars at its Arizona factory…
Tesla’s German Landing Will Fuel Competition: Volkswagen CEO
September 24, 2021
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FRANKFURT—The planned opening of Tesla’s first gigafactory in Europe later this year will force local industry to step up its game, Volkswagen Chief Executive Herbert Diess said on Friday. Diess’ comments, made on Twitter, come as Tesla continues work on its plant in Gruenheide, near Berlin, as it awaits final building approval for the 5.8…
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