News

Asia shares fall on US election anxiety; Tesla earnings provide some cheer Asian shares fell on Thursday, while the dollar held near three-month highs and U.S. yields rose as uncertainty over the U.S. election outcome kept markets on edge, though Tesla's forecast-topping earnings provided some comfort for investors. The combination of higher U.S. Treasury yields, U.S. election uncertainty and growing bets the Federal Reserve may be more restrained in their easing pace capped risk sentiment. Adding to the market nerves is rising expectations of a possible retu...
Asia shares fall on US election anxiety; Tesla earnings provide some cheer
Asia shares fall on US election anxiety; Tesla earnings provide some cheer
Source: Reuters
2024-10-24 08:48:54 am
'Without him, we would just be another car firm': Musk lauds Indian-origin engineer Lauding the Indian-origin engineer Ashok Elluswamy, who was the first recruit of Tesla's Autopilot team, Elon Musk on Sunday expressed gratitude towards him, saying that "without him and our awesome team, we would just be another car company looking for an autonomy supplier that does not exist".  This comes after Elluswamy, in his detailed note, said that Musk has been the key driver of AI and autonomy at Tesla. "He has always pushed us to achieve great things, e...
'Without him, we would just be another car firm': Musk lauds Indian-origin engineer
'Without him, we would just be another car firm': Musk lauds Indian-origin engineer
Source: IANS
2024-06-09 06:13:15 pm
Indian youth, stable democracy will provide robust business environment: PM Narendra Modi to Elon Musk India’s talented youth and a stable democratic polity will provide a safe business environment to all partners, said Prime Minister Narendra Modi on Saturday.  PM Modi said this in reply to billionaire Elon Musk, who on Friday had congratulated the Prime Minister on his re-election for a record third term. Musk informed that his companies are looking to invest in India soon. “Appreciate your greetings @elonmusk,” PM Modi said. “The talented Indian youth, ...
Indian youth, stable democracy will provide robust business environment: PM Narendra Modi to Elon Musk
Indian youth, stable democracy will provide robust business environment: PM Narendra Modi to Elon Musk
Source: IANS
2024-06-09 11:45:37 am
X platform now has 600 million monthly active users: Elon Musk Tesla CEO Elon Musk on Friday said that his X social media platform has reached 600 million monthly active users (MAUs).   Musk, who acquired the platform in 2022 for $44 billion, is making it an “everything app” where people can post movies and TV shows and also make digital payments. “X has 600 million monthly active users, about half of which use the platform every day,” the tech billionaire said in a post. The X users reacted, saying it is the best...
X platform now has 600 million monthly active users: Elon Musk
X platform now has 600 million monthly active users: Elon Musk
Source: IANS
2024-05-24 10:27:48 am
Indian-descent Nikesh Arora 2nd highest paid CEO in US, says report Nikesh Arora, the India-born CEO of Palo Alto Networks, has been ranked America’s second-highest paid CEO in 2023. A total of 17 Indian-descent CEOs are in the top 500 rankings, according to an analysis published by The Wall Street Journal on Tuesday. Shantanu Narayen of Adobe is the second-highest paid Indian-descent CEO, ranked 11 overall. Arora and Narayen earned $151.43 million and $44.93 million, respectively, more than Tesla’s Elon Musk, who did not receive any compens...
Indian-descent Nikesh Arora 2nd highest paid CEO in US, says report
Indian-descent Nikesh Arora 2nd highest paid CEO in US, says report
Source: IANS
2024-05-22 10:13:01 am
Affordable internet service Starlink now available in Fiji: Elon Musk Tesla CEO Elon Musk said on Monday that affordable satellite internet service Starlink is now available in Fiji, a day after the billionaire launched the service in Indonesia. Musk said that bringing connectivity to remote communities radically improves access to education and economic opportunities. “Starlink is now available in Fiji,” he posted on X. The SpaceX’s internet service is now live across more than 300 islands in the Republic of Fiji, marking the 99th co...
Affordable internet service Starlink now available in Fiji: Elon Musk
Affordable internet service Starlink now available in Fiji: Elon Musk
Source: IANS
2024-05-20 11:30:23 am
Tesla to invest over $500 mn on Supercharger network expansion Tesla CEO Elon Musk on Friday said that the company will be investing more than $500 million in its Supercharger network to create thousands of new chargers in 2024. "Tesla will spend well over $500 million expanding our Supercharger network to create thousands of new chargers this year," Musk wrote in a post on X. He also said that this money only accounts for new sites and expansions, and not for operations costs, which are much higher. "That’s just on new site...
Tesla to invest over $500 mn on Supercharger network expansion
Tesla to invest over $500 mn on Supercharger network expansion
Source: IANS
2024-05-10 03:36:18 pm
Stocks in Asia rise, yen wobbles after volatile start to week  Asian stocks inched higher on Tuesday as investors awaited a slew of economic data, corporate earnings and the U.S. Federal Reserve's policy meeting, while the yen was slightly weaker a day after suspected intervention rescued it from 34-year lows. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.36% higher, set to clock in a nearly 1% gain for the month, its third straight month of gains. Nikkei rose 1% as Japan reopened after a holiday on Monday. China st...
Stocks in Asia rise, yen wobbles after volatile start to week
Stocks in Asia rise, yen wobbles after volatile start to week
Source: Reuters
2024-04-30 08:57:35 am
Tesla cars to soon have an integrated X experience: Elon Musk Elon Musk, on Sunday, said that Tesla car users will soon have an integrated experience with X social media platform. Replying to a follower who asked if we can get the X app integrated into Tesla cars, the tech billionaire said: “Coming soon.” It means that the electric car owners will be able to use X via a software update in Tesla user interface (UI). “That is really good news. At the moment, I can’t read X notifications on my iPhone while on FSD (full-self...
Tesla cars to soon have an integrated X experience: Elon Musk
Tesla cars to soon have an integrated X experience: Elon Musk
Source: IANS
2024-04-21 10:39:27 am
Workers at VW`s Tennessee plant to unionise after key vote Workers at Volkswagen's Chattanooga plant in the US state of Tennessee have voted overwhelmingly to unionise at the third attempt, the company and the United Auto Workers (UAW) have announced. The ballot, which ended on Friday, saw 73 per cent of the workers backing the move. The result has yet to be confirmed by the National Labor Relations Board, an agency of the United States federal government. The UAW, which is seeking to expand its presence in the US automotive sector, sees th...
Workers at VW`s Tennessee plant to unionise after key vote
Workers at VW`s Tennessee plant to unionise after key vote
Source: IANS
2024-04-21 08:50:16 am
Government amends FDI policy in space sector to attract offshore investors With an aim to attract offshore investors in satellite manufacturing and satellite launch vehicles segments, the government has amended the foreign direct investment (FDI) policy in the space sector. The notification comes days ahead of the scheduled visit of Tesla CEO Elon Musk who is expected to meet with various Indian space companies during his visit from April 21 to 22, 2024.  The new rules, known as the Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, ...
Government amends FDI policy in space sector to attract offshore investors
Government amends FDI policy in space sector to attract offshore investors
Source: Accord Fintech
2024-04-18 03:03:45 pm
Elon Musk`s Starlink may get Indian government approval soon Ahead of Elon Musk's visit to India, the tech billionaire's satellite-based internet service Starlink has reportedly received tentative approval from the Ministry of Communications. According to reports, the approval procedure is currently on the desk of Communications Minister Ashwini Vaishnaw, awaiting final clearance by the Home Ministry on some security issues. The reports also mentioned that the commercial part has been examined on issues such as foreign investment and net ...
Elon Musk`s Starlink may get Indian government approval soon
Elon Musk`s Starlink may get Indian government approval soon
Source: IANS
2024-04-17 10:32:29 am
This is how Tesla can produce a Rs 20 lakh 'Make in India' EV Elon Musk is coming to India for the first time to spend at least 48 hours in the country later this month. As all eyes are on what the billionaire would announce during his meeting with Prime Minister Narendra Modi and industry leaders, Tesla lovers have only one question: When will they finally be able to drive a 'Make in India', affordable EV? A cheaper Model 3, which is the entry-level Tesla, can only be possible with local manufacturing of battery components and a strong EV su...
This is how Tesla can produce a Rs 20 lakh 'Make in India' EV
This is how Tesla can produce a Rs 20 lakh 'Make in India' EV
Source: IANS
2024-04-13 05:48:02 pm
S&P 500 closes above key 5,000 level for first time as bullish sentiment spreads across Wall Street The S&P 500 closed above the 5,000 level on Friday for the first time as bullish sentiment spreads across Wall Street and investors cheered fresh data showing progress on inflation, media reported. The landmark moment comes during a period of strong economic growth, the artificial intelligence revolution, a better-than-expected earnings season, and anticipation of a pivot from the Federal Reserve to start cutting rates, CNN reported. The S&P 500 briefly topped 5,000 for the firs...
S&P 500 closes above key 5,000 level for first time as bullish sentiment spreads across Wall Street
S&P 500 closes above key 5,000 level for first time as bullish sentiment spreads across Wall Street
Source: IANS
2024-02-10 03:15:02 pm
Hyundai explores $3 billion IPO for India unit at $25-30 billion valuation, sources say Hyundai Motor is exploring an IPO for its Indian unit to raise at least $3 billion as early as this year at a valuation of up to $30 billion, potentially making it the country's biggest ever stock offering, two sources said. Hyundai Motor India is in early stage talks for the initial public offering and has held discussions with several banks, said the two sources who have been briefed on the matter. A spokesperson at the South Korean automaker's India unit declined to comment. ...
Hyundai explores $3 billion IPO for India unit at $25-30 billion valuation, sources say
Hyundai explores $3 billion IPO for India unit at $25-30 billion valuation, sources say
Source: Reuters
2024-02-05 12:40:00 pm
Ashneer Grover shares picture of Tesla car in Delhi, users react BharatPe's former MD Ashneer Grover has shared a picture of the first "cross-breed" Tesla car in Delhi on the social media platform X. According to the entrepreneur post, the car, a BYD (Build Your Dreams) Atto 3 in Boulder Grey, was spotted in Karol Bagh and has the word "Tesla" on its back. "World's first 'cross-breed' Tesla! Some Delhi boy literally ‘built his dream’ in Karol Bagh @Tesla," Grover wrote on Saturday. Since be...
Ashneer Grover shares picture of Tesla car in Delhi, users react
Ashneer Grover shares picture of Tesla car in Delhi, users react
Source: IANS
2024-02-04 12:25:06 pm
Musk announces to shift Tesla`s incorporation to Texas after $56bn pay snub Tesla and SpaceX CEO Elon Musk has announced that Tesla will move immediately to hold a shareholder vote to change its legal home from the US state of Delaware to Texas. This comes after a judge in Delaware ruled that Musk's $56 billion pay package is unfair and the Tesla board will need to come up with a new pay proposal. After the ruling, the tech billionaire posted on social media: "Never incorporate your company in the state of Delaware." He later launched a poll on...
Musk announces to shift Tesla`s incorporation to Texas after $56bn pay snub
Musk announces to shift Tesla`s incorporation to Texas after $56bn pay snub
Source: IANS
2024-02-01 05:48:44 pm
Tesla shares plunge to wipe out $73 billion in market value  Shares in Tesla plunged as much as 11 per cent after the market opened, wiping $73 billion off the company’s market value hours after it warned of slowing growth in electric car sales and an existential threat from Chinese rivals, CNN reported. In an earnings presentation Wednesday, the world’s most valuable automaker said its sales growth this year “may be notably lower” than last as it continued developing the “next-generation” vehicle, likely a ...
Tesla shares plunge to wipe out $73 billion in market value
Tesla shares plunge to wipe out $73 billion in market value
Source: IANS
2024-01-26 12:19:05 pm
Tesla recalls 1.6 mn cars in China, lowers Model Y, S and X range Elon Musk-run Tesla is recalling 1.6 million vehicles in China, its largest-ever recall in the country, to fix its autopilot system, the media reported on Friday. The recall in China was to fix issues with Tesla’s driver-assistance features that could increase the risk of crashes, reports the Wall Street Journal. The automaker had recalled two million cars in the US last year due to the same issue. An over-the-air software update will roll out to the affected vehicles, the repo...
Tesla recalls 1.6 mn cars in China, lowers Model Y, S and X range
Tesla recalls 1.6 mn cars in China, lowers Model Y, S and X range
Source: IANS
2024-01-06 09:29:19 am
This is how Tesla can produce a Rs 20 lakh Electric Vehicle for Indian masses Elon Musk looks all set to enter the burgeoning Indian electric vehicle (EV) market in the New Year after several years of dilly-dallying, giving the masses a hope that owning a cheaper Tesla Model 3 may soon be possible with local manufacturing of battery components and a robust EV supply system. Reports say that the world’s richest man is set to arrive in India during the ‘Vibrant Gujarat Global Summit’ on January 10-12 as Gujarat, with its strategic location and favour...
This is how Tesla can produce a Rs 20 lakh Electric Vehicle for Indian masses
This is how Tesla can produce a Rs 20 lakh Electric Vehicle for Indian masses
Source: IANS
2023-12-30 04:07:02 pm
Tata Motors lobbies India not to lower EV import taxes as Tesla looms-sources Tata Motors is pressing Indian officials not to lower import taxes of 100% on electric vehicles and to protect domestic industry and its investors, as the government reviews Tesla's plans to enter the market, people with direct knowledge said. As India tries to boost domestic manufacturing and EV adoption, Tesla is proposing to set up an Indian factory, but is demanding lower import taxes for electric cars. India is working on a new policy to cut import taxes on EVs to as low as 15%...
Tata Motors lobbies India not to lower EV import taxes as Tesla looms-sources
Tata Motors lobbies India not to lower EV import taxes as Tesla looms-sources
Source: Reuters
2023-12-07 07:55:33 pm
Tesla profits plunge 44%, Cybertruck won`t be profitable till 2025 Elon Musk-run Tesla saw its profits nosediving 44 per cent to $1.85 billion in the third quarter (Q3) from the year-ago period when it had registered $3.3 billion in profits.The electric car-maker reported $23.4 billion in revenue during the third quarter of 2023, a small increase from $21.4 billion the same time last year.The company?s operating margins fell for the third quarter in a row, meaning that frequent price cuts have taken its toll on Tesla?s bottom line.?Our cost of goods sold per...
Tesla profits plunge 44%, Cybertruck won`t be profitable till 2025
Tesla profits plunge 44%, Cybertruck won`t be profitable till 2025
Source: IANS
2023-10-19 11:41:13 am
Asia stocks rise on earnings hopes; keep wary eye on Mideast tensions Asian stocks rose in cautious trade on Tuesday, with investors choosing to focus on corporate earnings prospects and the resilience of the U.S. economy ahead of tensions in the Middle East.MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.4%. Tokyo's Nikkei rose 1%.Overnight the S&P 500 had climbed 1%, while oil prices and the U.S. dollar had fallen.A host of "favorable" signs from the strength of the U.S. consumer, economic growth, and interest rates supporting bank p...
Asia stocks rise on earnings hopes; keep wary eye on Mideast tensions
Asia stocks rise on earnings hopes; keep wary eye on Mideast tensions
Source: Reuters
2023-10-17 09:14:54 am
Tesla launches updated Model Y EV in China at same starting price Elon Musk-run Tesla has launched a new Model Y electric car in China with updated design and performance tweaks at same starting price of about 263,900 yuan ($37,000).The new car follows the revamped "Highland" Model 3 in China, which also hit Europe early last month.According to Tesla?s Chinese website, the Model Y now has a 0?100km/hour time of 5.9 seconds. The EV gets new wheels and an ambient LED lighting strip in the dash, like the refreshed Model 3, reports The Verge.Tesla is also ...
Tesla launches updated Model Y EV in China at same starting price
Tesla launches updated Model Y EV in China at same starting price
Source: IANS
2023-10-02 10:02:46 am
JPMorgan sees India in its top 3 fastest-growing Asia markets in 2024 India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank."People are starting to get excited about the whole China plus one element and while other countries have benefitted, India could be the largest beneficiary," said Filippo Gori, JPMorgan's CEO for Asia Pacific told Reuters, referring to a strategy for businesses diversifying supply chains beyond China.This is becau...
JPMorgan sees India in its top 3 fastest-growing Asia markets in 2024
JPMorgan sees India in its top 3 fastest-growing Asia markets in 2024
Source: Reuters
2023-09-27 09:25:02 am
Tesla exploring to build battery storage factory in India Elon Musk-run Tesla is reportedly planning to build a factory for battery storage in India and has submitted a proposal for the same to the government.According to a report in Reuters, citing sources, the electric car-maker proposed supporting the country's battery storage capabilities with its ?Powerwall" during recent meetings.Powerwall is an integrated battery system that stores solar energy for backup protection when the grid goes down.The system detects outages, powers your home and elec...
Tesla exploring to build battery storage factory in India
Tesla exploring to build battery storage factory in India
Source: IANS
2023-09-22 09:44:15am
Tesla`s $25K car, robotaxi to have futuristic design like Cybertruck Tesla?s $25,000 car and the company?s dedicated robotaxi will feature a futuristic design -- inspired by the Cybertruck, according to Elon Musk biographer Walter Isaacson.According to an excerpt from Isaacson's upcoming book, Musk was so focused on self-driving robotaxis that it took a team effort from Tesla executivesto convince him to pursue an affordable car as well, however, the CEO only relented when his aides revealed a plan to build both the $25,000 car andTesla's robotaxi side by side...
Tesla`s $25K car, robotaxi to have futuristic design like Cybertruck
Tesla`s $25K car, robotaxi to have futuristic design like Cybertruck
Source: IANS
2023-09-10 02:06:48pm