Tesla and Rivian automotive have experienced an impressive surge in their shares and second quarter deliveries. Tesla's shares skyrocketed by 7% following better-than-expected quarterly deliveries, proving CEO Elon Musk's strategy of boosting volumes through discounts is paying off. This surge lifted tesla's market value by a staggering 57 billion dollars to reach a remarkable 887 billion dollars. The company's stock has already more than doubled in value this year, far exceeding analysts' price targets.

Tesla’s stock soars by $57 billion

On Thursday, Tesla shares plunged more than 10% as CEO Elon Musk implied that the electric vehicle manufacturer would continue to reduce costs in order to increase demand. On Thursday, Tesla lost more than $50 billion in market value, and the company's shares fell to their lowest level since January.

Tesla's stock falls 10% after weak earnings

<p>Tesla CEO Elon Musk’s problems are far from over. After his deal to takeover Twitter seems to have gone ‘on hold’, S&amp;P Dow Jones Indices has omitted the electric carmaker, Tesla Inc, from its S&amp;P 500 ESG Index, media reports said. The action seems to have been taken over several issues, such as crashes linked to autopilot vehicles, racial discrimination claims, etc.&nbsp;As the S&amp;P 500 ESG Index is widely-followed, the move has&nbsp;prompted harsh replies in the form of tweets from billionaire Elon Musk on Wednesday. &nbsp;</p>

<p><strong>Also Read:&nbsp;<a href="https://www.wionews.com/world/elon-musk-did-not-ask-anything-about-business-while-signing-says-twitter-over-on-hold-deal-479956" hreflang="en">Elon Musk did not ask anything about business while signing, says Twitter over ‘on hold’ deal</a></strong></p>

<p>In a tweet, Tesla CEO Elon Musk said, "Exxon is rated top ten best in world for environment, social &amp; governance (ESG) by S&amp;P 500, while Tesla didn’t make the list! ESG is a scam. It has been weaponised by phony social justice warriors." &nbsp;</p>

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<p dir="ltr" lang="en">Exxon is rated top ten best in world for environment, social &amp; governance (ESG) by S&amp;P 500, while Tesla didn’t make the list!<br />
<br />
ESG is a scam. It has been weaponized by phony social justice warriors.</p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1526958110023245829?ref_src=twsrc%5Etfw">May 18, 2022</a></blockquote>
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<p><strong>Watch:&nbsp;Will Elon Musk walk away from the Twitter deal?</strong></p>

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<p>While hailing the move, Margaret Dorn, who is head of Environmental, Social, and Governance (ESG) Indices for North America at S&amp;P Dow Jones Indices (S&amp;P DJI), said in an interview with a media outlet that the changes were made as Tesla has also not published details relating to its low carbon strategy or business conduct codes.</p>

<p>"You can't just take a company's mission statement at face value, you have to look at their practices across all the key dimensions," Dorn said. &nbsp;</p>

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Tesla CEO Elon Musk’s problems are far from over. After his deal to takeover Twitter seems to have gone ‘on hold’, S&P Dow Jones Indices has omitted the electric carmaker, Tesla Inc, from its S&P 500 ESG Index, media reports said.

Tesla CEO Elon Musk’s problems are far from over. After his deal to takeover Twitter seems to have gone ‘on hold’, S&P Dow Jones Indices has omitted the electric carmaker, Tesla Inc, from its S&P 500 ESG Index, media reports said. The action seems to have been taken over several issues, such as crashes linked to autopilot vehicles, racial discrimination claims, etc. As the S&P 500 ESG Index is widely-followed, the move has prompted harsh replies in the form of tweets from billionaire Elon Musk on Wednesday. Also Read: Elon Musk did not ask anything about business while signing, says Twitter over ‘on hold’ deal In a tweet, Tesla CEO Elon Musk said, "Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn’t make the list! ESG is a scam. It has been weaponised by phony social justice warriors." Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn’t make the list! ESG is a scam. It has been weaponized by phony social justice warriors. — Elon Musk (@elonmusk) May 18, 2022 × Watch: Will Elon Musk walk away from the Twitter deal? × While hailing the move, Margaret Dorn, who is head of Environmental, Social, and Governance (ESG) Indices for North America at S&P Dow Jones Indices (S&P DJI), said in an interview with a media outlet that the changes were made as Tesla has also not published details relating to its low carbon strategy or business conduct codes. "You can't just take a company's mission statement at face value, you have to look at their practices across all the key dimensions," Dorn said. WATCH WION LIVE HERE (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Troubles beginning to grow? S&P 500 ESG Index ditches Tesla, invokes CEO Elon Musk’s harsh reaction

Tesla Motors Inc chief executive Elon Musk on Wednesday unveiled an ambitious plan to expand the company into electric trucks and buses, car sharing and solar energy systems.<br />
<br />
In a blog post titled &#39;Master Plan, Part Deux&#39;, Musk sketched a vision of an integrated carbon-free energy enterprise offering a wider range of vehicles, and products and services beyond electric cars and batteries.<br />
<br />
The newest elements of the strategy included plans to develop cars and ride sharing programs, as well as commercial vehicles, businesses where other companies already compete, and in some cases, have ample head starts on Tesla.<br />
<br />
The new vehicles range from a commercial truck called the Tesla Semi to a public transport bus, a &quot;new kind of pickup truck&quot; and a compact SUV. The vehicles will be unveiled next year alongside Tesla&#39;s existing fleet of electric cars.<br />
<br />
Musk restated his argument that Tesla should acquire solar panel installer SolarCity Corp, where he is a major shareholder, and said he aims to make Tesla&rsquo;s autopilot self-driving system 10 times safer than cars that humans drive manually.<br />
<br />
The plan did not detail how the new projects would be financed at a time when Both Tesla and SolarCity are burning through cash.<br />
<br />
Musk summarised the plan saying Tesla aimed to &quot;create stunning solar roofs (for homes) with seamlessly integrated battery storage. Expand the electric vehicle product line to address all major segments. Develop a self-driving capability that is 10X safer than manual via massive fleet learning. Enable your car to make money for you when you aren&#39;t using it.&quot;<br />
<br />
Musk said he envisions Tesla owners allowing others to use their vehicles through a smartphone application. He indicated there will be a &quot;Tesla shared fleet&quot;, but did not offer details of how that fleet would be managed.<br />
<br />
Rival automakers are pursuing some of these goals as well.<br />
<br />
&ldquo;In cities where demand exceeds the supply of customer-owned cars, Tesla will operate its own fleet, ensuring you can always hail a ride from us no matter where you are,&rdquo; he said. Such a service would put Tesla in competition with ride-hailing services such as Uber or Lyft.<br />
<br />
Musk said all future Tesla products will have fully, self-driving capability, including trucks and buses.<br />
<br />
He vigorously defended Tesla&#39;s decision to offer what he described as a &quot;beta&quot; system to allow partial autonomy in its vehicles, a system called Autopilot. Federal regulators are investigating Autopilot after a fatal accident involving a Tesla Model S operating with the system engaged.<br />
<br />
&quot;When used correctly, it (Autopilot) is already significantly safer than a person driving by themselves,&quot; he wrote.<br />
<br />
Musk did not say when fully autonomous Teslas would be ready&nbsp;but indicated it could require roughly five years of additional testing.<br />
<br />
Most major automakers, as well as internet search company Alphabet Inc, are investing heavily in automated driving technology.<br />
<br />
Germany&#39;s Daimler AG is working on automated heavy trucks and electric commercial vehicles. General Motors Co and Toyota Motor Corp are among the auto companies working on car sharing and forging alliances with ride-hailing companies.<br />
<br />
On June 21, Musk proposed Tesla buy SolarCity. He outlined a combined company that could provide consumers with the tools for a largely carbon-free lifestyle - electric cars recharged with electricity generated by SolarCity solar panel systems, or stored in the home using battery packs produced by Tesla&#39;s battery Gigafactory under construction near Reno, Nev.<br />
<br />
Musk owns 22 per cent of SolarCity&#39;s shares&nbsp;and has outlined plans to offer buyers of Tesla electric vehicles a solar power generation and battery storage system.<br />
<br />
To fund projects Tesla in May sold about $1.7 billion in new shares. Much of that will be used to accelerate development of its new Model 3 car lineup and reach a production pace of 500,000 vehicles a year by 2018.<br />
<br />
On Monday, SolarCity said it raised $345 million to fund projects&nbsp;and increased its debt facility by $110 million.<br />
<br />
(Reuters)

Announces foray into new vehicles - from a commercial truck called Tesla Semi to a public transport bus and a compact SUV

Tesla Motors Inc chief executive Elon Musk on Wednesday unveiled an ambitious plan to expand the company into electric trucks and buses, car sharing and solar energy systems. In a blog post titled 'Master Plan, Part Deux', Musk sketched a vision of an integrated carbon-free energy enterprise offering a wider range of vehicles, and products and services beyond electric cars and batteries. The newest elements of the strategy included plans to develop cars and ride sharing programs, as well as commercial vehicles, businesses where other companies already compete, and in some cases, have ample head starts on Tesla. The new vehicles range from a commercial truck called the Tesla Semi to a public transport bus, a "new kind of pickup truck" and a compact SUV. The vehicles will be unveiled next year alongside Tesla's existing fleet of electric cars. Musk restated his argument that Tesla should acquire solar panel installer SolarCity Corp, where he is a major shareholder, and said he aims to make Tesla’s autopilot self-driving system 10 times safer than cars that humans drive manually. The plan did not detail how the new projects would be financed at a time when Both Tesla and SolarCity are burning through cash. Musk summarised the plan saying Tesla aimed to "create stunning solar roofs (for homes) with seamlessly integrated battery storage. Expand the electric vehicle product line to address all major segments. Develop a self-driving capability that is 10X safer than manual via massive fleet learning. Enable your car to make money for you when you aren't using it." Musk said he envisions Tesla owners allowing others to use their vehicles through a smartphone application. He indicated there will be a "Tesla shared fleet", but did not offer details of how that fleet would be managed. Rival automakers are pursuing some of these goals as well. “In cities where demand exceeds the supply of customer-owned cars, Tesla will operate its own fleet, ensuring you can always hail a ride from us no matter where you are,” he said. Such a service would put Tesla in competition with ride-hailing services such as Uber or Lyft. Musk said all future Tesla products will have fully, self-driving capability, including trucks and buses. He vigorously defended Tesla's decision to offer what he described as a "beta" system to allow partial autonomy in its vehicles, a system called Autopilot. Federal regulators are investigating Autopilot after a fatal accident involving a Tesla Model S operating with the system engaged. "When used correctly, it (Autopilot) is already significantly safer than a person driving by themselves," he wrote. Musk did not say when fully autonomous Teslas would be ready but indicated it could require roughly five years of additional testing. Most major automakers, as well as internet search company Alphabet Inc, are investing heavily in automated driving technology. Germany's Daimler AG is working on automated heavy trucks and electric commercial vehicles. General Motors Co and Toyota Motor Corp are among the auto companies working on car sharing and forging alliances with ride-hailing companies. On June 21, Musk proposed Tesla buy SolarCity. He outlined a combined company that could provide consumers with the tools for a largely carbon-free lifestyle - electric cars recharged with electricity generated by SolarCity solar panel systems, or stored in the home using battery packs produced by Tesla's battery Gigafactory under construction near Reno, Nev. Musk owns 22 per cent of SolarCity's shares and has outlined plans to offer buyers of Tesla electric vehicles a solar power generation and battery storage system. To fund projects Tesla in May sold about $1.7 billion in new shares. Much of that will be used to accelerate development of its new Model 3 car lineup and reach a production pace of 500,000 vehicles a year by 2018. On Monday, SolarCity said it raised $345 million to fund projects and increased its debt facility by $110 million. (Reuters)

Tesla CEO Elon Musk unmasks plan for the road ahead

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Tesla’s stock soars by $57 billion

Tesla's stock falls 10% after weak earnings

Troubles beginning to grow? S&P 500 ESG Index ditches Tesla, invokes CEO Elon Musk’s harsh reaction

Tesla CEO Elon Musk unmasks plan for the road ahead