Tesla News - in60

Jul 24 Tesla India

Tesla To Discuss Factory Plan For New $24,000 Car With India Commerce Minister

Tesla representatives are set to meet India’s commerce minister this month to discuss plans to build a factory to produce what the company has described as an all-new $24,000 car.
Tesla has expressed an interest in building a factory in India that would produce low-cost electric vehicles (EVs) for the local market and for export, the person said, adding that the company had indicated that it would be for the new vehicle.

Shares of electric auto maker Tesla fell by more than 7% on Thursday.
Tesla CEO Elon Musk and other execs on the earnings call warned production would slow down during Q3 due to shutdowns for factory improvements.
Investors soured on initially positive results due to imprecise commentary from CEO Elon Musk and other executives on the company’s latest vehicle, Cybertruck, and a planned robotaxi-ready car.

US Sen. Elizabeth Warren is urging the U.S. Securities and Exchange Commission to investigate Tesla and its board of directors over possible “conflicts of interest, misappropriation of corporate assets, and other negative impacts to Tesla shareholders” related to CEO Elon Musk’s Twitter takeover.
Sen. Warren wrote that the Tesla board’s “apparent lack of independence” from Musk, combined with “inaction and incomplete disclosures, raise questions about possible violations of securities laws and exchange rules which fall under SEC’s jurisdiction.”

Tesla built its first Cybertruck at the electric-vehicle marker's plant in Austin, Texas, the company said in a tweet on Saturday, after two years of delays.
The Cybertruck launch will give Tesla an EV entrant in one of the most profitable segments of the U.S. market and a competitor to electric pickups from the likes of Ford Motor and Rivian Automotive, both of which have launched models in still-limited numbers.

Elon Musk said his new AI startup, xAI, will use Twitter data for training the “maximally curious” artificial intelligence systems and products he hopes to build there.
Other companies where Musk was a founder or serves as CEO, including Tesla, The Boring Co. and SpaceX, have done business together for years.
The Tesla CEO also said his new artificial intelligence will collaborate with the automaker both on the “silicon front” and on the “AI software front.”