U.S. stocks drop on recession fears, Nasdaq closes at new bear market low

U.S. stocks drop on recession fears, Nasdaq closes at new bear market low

Tesla gains 3.3% in choppy trade Southwest Airlines slips 5.2% on government scrutiny Indexes down: Dow 1.1%, S&P 500 1.20%, Nasdaq 1.35% Dec 28 (Reuters) – Wall Street’s main indexes ended weaker on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, rising COVID cases in China, and … Read more

Tesla shares extend losses on demand worries in China

Tesla shares extend losses on demand worries in China

Dec 27 (Reuters) – Tesla Inc (TSLA.O) shares fell 11.4% on Tuesday after a Reuters report that Tesla was planning to run a reduced production schedule in January at its Shanghai plant sparked worries of a drop in demand in the world’s biggest car market. The stock, which fell to its lowest in more than … Read more

Tesla, megacap growth stocks pull Nasdaq lower; Dow rises

Tesla, megacap growth stocks pull Nasdaq lower; Dow rises

Tesla slumps on report of reduced output plan China ADRs rise on reopening optimism Indexes mixed: Dow up 0.40%, S&P down 0.11%, Nasdaq down 0.80% Dec 27 (Reuters) – The tech-heavy Nasdaq came under pressure on Tuesday following declines in some megacap growth stocks and Tesla, while optimism around an economic recovery in China after … Read more

Tesla used car price bubble pops, weighs on new car demand

Tesla used car price bubble pops, weighs on new car demand

SAN FRANCISCO, Dec 27 (Reuters) – Tesla buyers who waited months for their new car have had an unusual choice for much of the past two years: keep the new electric vehicle, or sell it at a profit to someone with less patience. But the days of the Tesla flip are numbered – a potential … Read more

Battery swapping spurs Kenya’s electric motorbike drive

Battery swapping spurs Kenya’s electric motorbike drive

Electric motorbike startups making inroads in Kenya Say battery swapping saves drivers time, money Planning to expand model to Tanzania, Uganda NAIROBI, Dec 26 (Reuters) – Over recent months, sets of sturdy, brightly-branded battery swapping stations have cropped up around Kenya’s capital Nairobi, allowing electric motorcyclists to exchange their low battery for a fully-charged one. … Read more

Tesla suspends production at Shanghai plant

Tesla suspends production at Shanghai plant

SHANGHAI, Dec 24 (Reuters) – Tesla suspended production at its Shanghai plant on Saturday, according to an internal notice and two people with knowledge of the matter, bringing ahead a previous plan to pause most work at the plant in the last week of December. The U.S. automaker cancelled the morning shift and told all … Read more

Elon Musk’s vow to not sell more Tesla stock fails to calm investors

Elon Musk’s vow to not sell more Tesla stock fails to calm investors

Dec 23 (Reuters) – Tesla Inc shares (TSLA.O) hit a fresh two-year low in volatile trading on Friday as top boss Elon Musk’s promise to not sell his shares in the electric-car company for at least two years did little to reassure investors. Musk has offloaded shares worth $40 billion in the world’s most valuable … Read more

Elon Musk says he will not sell more Tesla stock for about two years

Elon Musk says he will not sell more Tesla stock for about two years

Dec 22 (Reuters) – Tesla (TSLA.O) Chief Executive Officer Elon Musk said on Thursday he will not sell any more Tesla stock for about two years. While speaking in a Twitter Spaces audio chat, Musk said he foresees the economy will be in a “serious recession” in 2023 and demand for big-ticket items will be … Read more

Tesla doubles discounts on mainstay vehicles to $7,500 in U.S.

Tesla doubles discounts on mainstay vehicles to $7,500 in U.S.

Dec 21 (Reuters) – Tesla Inc (TSLA.O) is offering $7,500 discounts on Model 3 and Model Y electric vehicles (EV) delivered in the United States this month, its website showed on Wednesday, amid concerns the automaker is facing softening demand as economies slow and EV tax incentives loom. That is up from the $3,750 credit … Read more

Tesla sends Shanghai boss and aides to jumpstart US output

Tesla sends Shanghai boss and aides to jumpstart US output

SHANGHAI/SAN FRANCISCO, Dec 21 (Reuters) – Tesla Inc’s (TSLA.O) China chief Tom Zhu and a team of his reports have been brought in to troubleshoot production issues in the United States, fueling talk among colleagues he is being groomed for a bigger role at a time when Chief Executive Elon Musk has been distracted by … Read more