Tesla China is planning to keep its workers at Gigafactory Shanghai isolated, even as authorities ease movement restrictions for residents in low-risk parts of the city. Tesla Giga Shanghai’s workers would be staying in a closed-loop system until June 10, 2022. Despite the city’s stringent Covid lockdowns, Tesla has been able to resume partial vehicle…
Prices for key battery materials may have been rising as of late, but Goldman Sachs believes that some price drops are in order. The prediction was outlined by Goldman analysts Nicholas Snowdon and Aditi Rai in a note on Sunday. “Investors are fully aware that battery metals will play a crucial role in the 21st-century…
Tesla showrooms and other Shanghai businesses are expected to reopen and resume work after the city’s new rules take effect on Wednesday, June 1, 2022. Local Shanghai officials stated that the city would eliminate the whitelist that companies need to qualify for to resume work and production. China created the whitelist to support companies resuming operations while…
Tesla recently rolled out an update to its vehicles’ navigation system that makes energy consumption calculations incredibly accurate. The update was released as part of software version 2022.16.0.2. Prior to the update, Tesla’s navigation system predicted a vehicle’s energy usage using data like distance, elevation changes, and other information like the type of wheels that are installed.…
The Securities and Exchange Commission (SEC) is cracking down on ESG funds (Environmental, Social, and Governance) that exaggerate their environmental, social, and governance strategy to attract investors. SEC proposed requiring ESG funds to provide proof of their claims. The agency wants funds to disclose how they select companies and vote at annual meetings. ESG funds…
Tesla Giga Shanghai plans to isolate thousands of workers at an old military camp and vacant factories to ensure they remain Covid-free. New workers will finally join Tesla China’s second shift for Gigafactory Shanghai as it maintains a closed-loop setup. According to Bloomberg, second-shift workers must quarantine for 48 to 72 hours before joining the employees…
Tesla CEO Elon Musk has increased his commitment for his planned Twitter takeover to $33.5 billion, new filings show. Musk, who came to terms with Twitter on April 25 to acquire the company for $44 billion, has worked to fund the deal through personal wealth, as well as investments from others. Musk has already received…
Tesla and General Motors material supplier Glencore and Glencore Ltd. pled guilty to several violations to the Foreign Corrupt Practices Act in relation to bribery and commodity and price manipulation. Glencore agreed to pay over $1.1 billion in fines to “resolve the government’s investigations” into illegal acts committed by the Switzerland-based companies. Glencore will pay…
Tesla shares have recently hit 11-month lows, and with it, CEO Elon Musk’s net worth has dropped below $200 billion. Musk has lost about $77.6 billion of his net worth year-to-date. Musk’s wealth is in no small part tied to his ownership of electric vehicle maker Tesla, which he leads. Tesla stock has been under…
Tesla stock (NASDAQ:TSLA) recently fell to an 11-month low, with shares dropping almost 7% on Tuesday. Despite this, Wedbush analyst Dan Ives believes that Tesla stock is way oversold and concerns about CEO Elon Musk’s acquisition of Twitter are getting way overdone. When Elon Musk announced that he had purchased a 9.2% stake in Twitter…