Tesla Stock Drops 8% On News Of Robotaxi Delay

RTTNews | 167 dias atrás

(RTTNews) - Tesla, Inc. shares were hit on Thursday's trading following a Bloomberg report that the luxury electric vehicle maker has delayed the unveiling of its robotaxi service to October. The company had previously planned its launch on August 8.

Tesla shares, which were gaining recently on the expected unveiling as well as a better-than-expected second-quarter deliveries, lost 8.4 percent on regular trading following the news, to close at $241.03. In the extended trading, the shares lost 1.8 percent further.

The report, citing people familiar with the decision, noted that the company is postponing its planned unveiling by two months so that teams working on the project will get more time to build additional prototypes. The design team reportedly was asked to rework certain elements of the car.

In 2019, Tesla CEO Elon Musk had promised that Tesla would have one million robotaxi-ready vehicles on the road in 2020.

Last week, Tesla had reported its second-quarter vehicle deliveries, better than market estimates. The deliveries increased sequentially, but was lower than the prior year, despite efforts to boost demand. Meanwhile, quarterly production of vehicles was lower year-over-year as well as sequentially.

In the recent period, the car maker has been struggling with weak demand and tough competition in the U.S. and Europe, as well as in its major market of China.

Among Tesla's peers, auto giant General Motors Co., through its autonomous vehicle company Cruise LLC, and tech major Alphabet Inc., through its autonomous driving unit Waymo LLC, are already offering robotaxi services.

Marcadores : TSLA

Elon Musk's $56 Bln Pay Package Not To Be Reinstated, Judge Rules

Tesla Inc. Chief Executive Officer Elon Musk's $56 billion pay package, which was approved by its shareholders, has been rejected by a Judge for the second time, noting that the compensation plan was improperly granted. Meanwhile, Tesla said the court's decision is wrong, and that the electric vehicle maker is going to appeal.

RTTNews | 23 dias atrás

Rivian Shares Gain On Reports Of Conditional Settlement With Tesla, $6.6 Bln Loan Approval

Rivian Automotive Inc.'s shares gained around 13 percent on Monday's regular trading after reports emerged that the all-electric automaker has reached a conditional settlement with EV major Tesla Inc., regarding its four-year old lawsuit. The shares were gaining 7% further in the pre-market activity on the Nasdaq, despite a slight drop in previous day's extended trading, after Rivian announced...

RTTNews | 30 dias atrás

Tesla Stock Climbs On Upbeat Earnings, FY24 Volume Growth View

Shares of Tesla Inc. climbed more than 12 percent in the after-hours on Wednesday and are currently up around 11 percent in the pre-market activity on the Nasdaq after the luxury electric vehicle maker reported higher profit in its third quarter, above market estimates, benefited by volume growth. Looking ahead to fiscal 2024, the company projects slight growth in vehicle deliveries...

RTTNews | 63 dias atrás

Tesla Unveils Robotaxi Cybercab, But Stock Down

Shares of Tesla Inc. were losing more than 8 percent in the early morning trading on the Nasdaq on Friday following the electric vehicle maker's long-awaited robotaxi event, which showcased Cybercab self-driving concept car. The event perhaps failed to impress investors and Wall Street analysts.

RTTNews | 75 dias atrás

NTSB Probes Tesla Semi Truck Crash And Fire

The National Transportation Safety Board or NTSB has opened an investigation into the recent crash and fire of a Tesla Inc. Semi truck in California. In the incident, the Tesla Semi ran off the road on Interstate 80 near Emigrant Gap, California in the early morning Monday. Though no one was injured in the accident, the vehicle's battery subsequently caught fire and the freeway in both directions.

RTTNews | 125 dias atrás

EU To Impose Countervailing Duty Of 9% On Tesla's China-made BEVs

The European Commission is disclosed its draft decision to impose countervailing duties of up to 36.3 percent on imports of battery electric vehicles (BEVs) from China. The Commission said the unfair subsidization is causing a threat of economic injury to BEV producers in the European Union.

RTTNews | 127 dias atrás

Tesla Stockholders Approve Elon Musk's $56 Bln Pay Package, Moving To Texas

Elon Musk, the founder and CEO of Tesla Inc., turned victorious after shareholders approved two major resolutions during Thursday's annual general meeting, including his $56 billion pay package, which was voided by a Delaware judge earlier this year. The luxury electric car maker's shareholders also approved a resolution to move its incorporation to Texas, the base of its largest U.S. factory.

RTTNews | 195 dias atrás

Tesla Set To Raise Price Of Model 3 In EU From July

Luxury EV maker Tesla is getting ready to increase the price of its Model 3 electric vehicle that are made in China and exported to the European Union from next month, according to a notice displayed on Thursday on Tesla's website for some of the EU block countries, including Germany, France, Ireland, Belgium and Hungary.

RTTNews | 195 dias atrás

EURUSD	1.04003	GBPUSD	1.25433	AUDUSD	0.62368
USDJPY	157.38	USDCAD	1.43736	USDCHF	0.89972