Tag: Tesla Motors Inc

Tesla Had a Bad Year. Some Investors Are Blaming Elon Musk.

Chin@Strategy

In a down year for stocks, the 70 percent drop in Tesla’s share price stands out for the scale of wealth vaporized and the unorthodox behavior of its chief executive, Elon Musk. The collapse of Tesla’s stock price destroyed about $680 billion in market value. And Mr. Musk, once hailed as a genius who remade the car industry, appears increasingly distracted by his acquisition of Twitter and is using the social network to vent his frustrations. He insulted one of his critics this week by describing him as having “tiny…

Tesla Cuts Prices in China in Sign of Slowing Demand

Chin@Strategy

Tesla on Monday cut prices for its cars in China, a sign of intensifying competition in the world’s largest car market that provoked a slump in the company’s shares. Tesla’s Chinese website was offering the Model 3 sedan on Monday for a starting price of 265,900 renminbi, or $36,600, including government subsidies, a 5 percent reduction. The Model Y sport utility vehicle was advertised at 288,900 renminbi, a 9 percent cut. Tesla shares fell more than 6 percent before recovering a little as the price cuts reinforced fears among investors…

India’s Electric Vehicle Push Is Riding on Mopeds and Rickshaws

Chin@Strategy

In the United States, luxury-car buyers are snapping up Teslas and other electric cars that cost more than $60,000, and even relatively cheap models cost more than $25,000. Here in India, those are all out of reach of the vast majority of families, whose median income is just $2,400. But an electric vehicle movement is taking place nonetheless, not on four wheels, but on two and three. Electric mopeds and three-wheeled rickshaw taxis that sell for as little as $1,000 are zipping along India’s congested urban thoroughfares, cheered on by…

Musk’s Ties to China Could Create Headaches for Twitter

Chin@Strategy

SAN FRANCISCO — When Elon Musk opened a Tesla factory in Shanghai in 2019, the Chinese government welcomed him with billions of dollars’ worth of cheap land, loans, tax breaks and subsidies. “I really think China is the future,” Mr. Musk cheered. Tesla’s road since then has been lucrative, with a quarter of the company’s revenue in 2021 coming from China, but not without problems. The firm faced a consumer and regulatory revolt in China last year over manufacturing flaws. With his deal to take over Twitter, Mr. Musk’s ties…

How Lockdowns in China Have Further Bogged Down the Supply Chain

Chin@Strategy

BEIJING — China’s mounting Covid-19 restrictions are creating further disruptions to global supply chains for consumer electronics, car parts and other goods. A growing number of Chinese cities are requiring truck drivers to take daily Covid P.C.R. tests before allowing them to cross municipal borders or are quarantining drivers deemed to be at risk of infection. The measures have limited how quickly drivers can move components among factories and goods from plants to ports. Shanghai and other major Chinese cities have imposed lengthy, stringent lockdowns to try to control Covid…

How Tesla Helps China’s Firms Compete With the U.S.

Chin@Strategy

Forty-two years ago, Liu Siong Song built machines to help factories make cheap toys and watches. Then he made them for motorcycle companies. Now he helps Tesla, in the words of Elon Musk, “make full-size cars in the same way that toy cars are made.” Mr. Liu, 69, may have come full circle, in a sense, but he also may play a role in the future of driving. His company is one of the emerging Chinese manufacturers competing aggressively and competently with traditional players in the United States, Japan and…