Tag: reports
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Mazda Seeks $2.8 Billion In Loans To Help It Through Coronavirus
Mazda is seeking loans at roughly 300 billion yen ($2.8 billion) out of Japan’s three megabanks along with other creditors to allow it to ride out the coronavirus pandemic, Reuters accounts. The banks, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group alongside the Development Bank of Japan, Sumitomo Mitsui Trust Holdings…
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Elon Musk Says Tesla’s Stock Price Is “Too High”, Prompting 13% Drop
Elon Musk occurred to Twitter on Friday a week to say Tesla’s share price is “too high”, prompting the automobile maker ’s shares. On Friday, Musk ldquo & stated;Tesla stock cost is too higher imo,” before adding he intends to sell “nearly all physical possessions. ” While it’s not uncommon for Musk to ‘proceed ’…
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Tesla Made A $16 Million Profit In Q1, While Increasing Revenues By 32% Over Last Year
Tesla has released its financial results for the first quarter of 2020, announcing it generated $5.985 billion in revenue and earned $16 million. This represents Tesla’s third consecutive quarter of profitability and comes despite the disruptions caused by the coronavirus pandemic. Key factors in Tesla’s somewhat-fruitful Q1 was improved automotive margins and reductions in operating…
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Tesla Ramps Up Accusations That China’s Xpeng Is Using Its Autopilot Source Code
Tesla is continuing to pursue legal action against Chinese car maker Xpeng asserting that the company stole and is currently using its Autopilot resource code from its own vehicles. The Californian carmaker is ramping up its own efforts in demonstrating that former Autopilot engineer Guangzhi Cao downloaded the driver support program ’s source code to…
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Apex Planning A Range Of Models To Follow AP-0 Sports Car
Apex plans on launching a host of models in the coming years following the recent unveiling of the all-electric AP-0 concept in March. The small car manufacturer is run by two Hong Kong-based brothers, Gary and Jason Yeung, but has its design, engineering and manufacturing base in the UK. The immediate plan is for production…
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VW Admits Tesla’s Software And Autonomy Lead In Internal Communications
As Volkswagen continues to struggle with issues in the ID.3, its first new-generation all-electric car, chief executive Herbert Diess has acknowledged in a webcast with top executives that Tesla has a significant lead in key vehicle technologies. Internal communications viewed by German publication Automobilwoche addressed both the software lead Tesla has over its competitors as…
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Light Vehicle Production Could Drop By 20% Globally In 2020
Passenger car production around the globe is expected to fall over 20 percent to around 71 million units this year on account of the COVID-19 pandemic, as well as the downturn industry specialists are currently anticipating will accompany. This type of decline could wind up breaking up carmakers 19 million units in lost manufacturing, based…
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Car Sales Across All Of Europe Plummet 52 Percent In March
Europe’s leading markets all registered massive drops in earnings each month, since enforced lockdown steps were put in place so as to include the spread of this coronavirus. New car registrations dropped to only 853,077 vehicles in the European Union, Britain and the European Free Trade Association (EFTA) states, in accordance with industry association ACEA.…
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Judge Says Tesla And Elon Musk Must Face Lawsuit Over Going-Private Tweet
A federal judge in the United States says Tesla must confront a lawsuit asserting chief executive Elon Musk misled investors if he tweeted in August 2018 he had the funding secured to take the automaker personal at $420. A Reuters report claims U.S. District Judge Edward Chen ruled Wednesday that investors can attempt to establish…
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Porsche Doesn’t Consider Tesla A Direct Rival
While Tesla is broadly recognized as being the leader in vehicles, Porsche claims that its push into the world of EVs is not an endeavor to battle Tesla’s dominance. While recently speaking with Auto News regarding its electrical future, Porsche development and research manager Michael Steiner said the German marque does not consider Tesla a…