Christine Orita was a loyal Tesla fan for years but recently ditched her Model S for an electric Mercedes-Benz. Elon Musk’s politics and disappointing self-driving tech pushed Orita to drop the Tesla brand, she told Insider. She loves how luxurious and comfortable her new Mercedes EQS is compared to her Model S. This as-told-to essay … Read more
Tesla is trying to use its overbuilding problem to maintain market share. Price slashes and piled up inventory at Tesla pose a big problem for rival startups. But the price cuts in the US alone could cost Tesla as much as $7 billion in annual profit. Tesla has the opposite problem of its competitors right … Read more
Tesla Inc. has reduced its electric vehicle prices in the United States and Europe, aiming to boost demand, Reuters reported. The move comes nearly one week after the luxury electric major slashed prices at its biggest international market in China. Following the news, Tesla shares were losing more than 4 percent in Frankfurt as well … Read more
Sona BLW Precision Forgings Ltd. (Sona Comstar) has signed an agreement to acquire 54% equity stake in NOVELIC, a Serbian Company founded in 2012. NOVELIC is primarily into providing sensor based solutions for smart vehicles. Sona’s immediate objective is to use it’s own existing client relationships to ramp up NOVELIC’s ADAS (Advanced Driver Assistance Systems) … Read more
Tesla Inc. (NASDAQ:TSLA) shares have come under significant selling pressure since peaking at $414.50 in November 2021. After ending 2022 as the worst-performing mega-cap stock, it has come under further selling in the new year. What Happened: Amid the development, calls for a revamp of the company’s board of directors are growing louder. Leo KoGuan, who claims … Read more
Eicher is taking a strategic stake in Stark Future SL, investing € 50 mn (apprx Rs 450 cr) in lieu of a 10.35% equity stake. Stark is a European electric motorcycle manufacturer, incorporated in Barcelona Spain, in July 2020 with specific focus in the area of performance electric motorcycles. It has recently launched the motocross … Read more
The value of Elon Musk’s company has sunk by almost 70% from its November 2021 peak. Musk has refused to draw a link between Tesla’s decline and his takeover of Twitter. Short-sellers made $15 billion this year betting that shares in Tesla would fall, as about $800 billion was wiped off its value, new research … Read more
At this stage, it’s only a MOU that has been announced by Amara Raja with the State of Telangana. What finally comes out of it remains to be seen. (It’s important to keep a track of these announcements as it helps in understanding management’s promises vs delivery over period) Key announcements – Proposed facility will … Read more
Nissan Motor is willing to walk away from a deal with Renault SA to re-balance their alliance amid concerns the French carmaker wants to license hundreds of jointly developed patented technologies to other players, including new Chinese partner Geely. While both sides appeared near a final agreement two weeks ago, Nissan’s board and management have … Read more