The race to ace the the electric market market has heated up. BYD has edged past Tesla in the fourth quarter - but only narrowly. Tesla delivered a recorded number of electric vehicles in the October December quarter. It delivered nearly 495,000 vehicles, but fell short of BYD's total of 526,409 cars. The car sales indicate that buyers are choosing cheaper models amid high interest rates.

BYD pips Tesla in quarterly sales

Tesla has clinched the top spot in Norway's electric car market for the third consecutive year. Despite a persistent conflict with Labour unions, the American electric vehicle giant expanded its lead over rivals, capturing a 20% share of the market in 2023.

Tesla overcomes union resistance, tops sales again

Chinese company BYD is poised to dethrone Tesla as the world's top-selling electric vehicle (EV) manufacturer, reporting stellar fourth-quarter sales, according to&nbsp; Financial Times report.&nbsp;BYD's record 526,000 battery-only vehicles sold in the quarter, especially a December surge, present a formidable challenge to Tesla's supremacy.

<h2>BYD's milestone quarter</h2>

BYD, emblematic of China's prowess in clean technology, achieved a historic milestone by selling 526,000 battery-only vehicles in Q4, marking a more than 70 per cent&nbsp;increase in December sales. The surge positions BYD as a formidable contender to overtake Tesla as the leading EV manufacturer.

Tesla must surpass analyst expectations and deliver a robust fourth quarter to maintain its status as the largest seller of pure electric vehicles. Estimates project Tesla's Q4 sales around 483,000 vehicles, with official production figures awaited on Tuesday (Jan 2).

<a href="https://www.wionews.com/india-news/elon-musks-tesla-to-set-up-first-indian-manufacturing-plant-in-gujarat-674748">Also read |&nbsp;Elon Musk's Tesla to set up first Indian manufacturing plant in Gujarat: Report</a>

At the end of Q3, BYD and Tesla each held a 17 per cent global market share for fully electric cars. While BYD outpaced Tesla in Q2 by including plug-in hybrid vehicles in the "new energy vehicles" category, it now presents a significant challenge to Tesla in the pure electric vehicle segment.

BYD has secured a 35 per cent market share in China's "new energy vehicles" segment, primarily on home turf. Despite expanding into international markets, the group's stronghold in China remains a key driver of its success.

Founded in the mid-1990s by Wang Chuanfu, BYD initially focused on rechargeable batteries before venturing into the automotive industry. With Warren Buffett's Berkshire Hathaway as a shareholder, BYD has evolved into a leader in EV technology, emphasising cost-efficiency and vertical integration.

Also watch |&nbsp;Tesla robot malfunctions, brutally attacks engineer

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/tesla-robot-malfunctions-brutally-attacks-engineer-674093/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

As BYD and Tesla engage in fierce competition, the broader industry shift towards cleaner vehicles has adversely affected traditional automakers slow to adapt. BYD's emphasis on innovation and cost-effective production processes positions it as a significant player in the evolving automotive landscape.

(With inputs from agencies)

Chinese company BYD is poised to dethrone Tesla as the world's top-selling electric vehicle (EV) manufacturer, reporting stellar fourth-quarter sales, according to Financial Times report.

Chinese company BYD is poised to dethrone Tesla as the world's top-selling electric vehicle (EV) manufacturer, reporting stellar fourth-quarter sales, according to Financial Times report. BYD's record 526,000 battery-only vehicles sold in the quarter, especially a December surge, present a formidable challenge to Tesla's supremacy. BYD's milestone quarter BYD, emblematic of China's prowess in clean technology, achieved a historic milestone by selling 526,000 battery-only vehicles in Q4, marking a more than 70 per cent increase in December sales. The surge positions BYD as a formidable contender to overtake Tesla as the leading EV manufacturer. Tesla must surpass analyst expectations and deliver a robust fourth quarter to maintain its status as the largest seller of pure electric vehicles. Estimates project Tesla's Q4 sales around 483,000 vehicles, with official production figures awaited on Tuesday (Jan 2). Also read | Elon Musk's Tesla to set up first Indian manufacturing plant in Gujarat: Report At the end of Q3, BYD and Tesla each held a 17 per cent global market share for fully electric cars. While BYD outpaced Tesla in Q2 by including plug-in hybrid vehicles in the "new energy vehicles" category, it now presents a significant challenge to Tesla in the pure electric vehicle segment. BYD has secured a 35 per cent market share in China's "new energy vehicles" segment, primarily on home turf. Despite expanding into international markets, the group's stronghold in China remains a key driver of its success. Founded in the mid-1990s by Wang Chuanfu, BYD initially focused on rechargeable batteries before venturing into the automotive industry. With Warren Buffett's Berkshire Hathaway as a shareholder, BYD has evolved into a leader in EV technology, emphasising cost-efficiency and vertical integration. Also watch | Tesla robot malfunctions, brutally attacks engineer As BYD and Tesla engage in fierce competition, the broader industry shift towards cleaner vehicles has adversely affected traditional automakers slow to adapt. BYD's emphasis on innovation and cost-effective production processes positions it as a significant player in the evolving automotive landscape. (With inputs from agencies)

Chinese firm BYD nears overtaking Tesla as world's leading electric vehicle manufacturer

Tesla will soon be entering the Indian market and the first manufacturing plant of the electric carmaker is likely to be set up in the Indian state of Gujarat next year. 
 
The ongoing negotiations for establishing the EV maker's first manufacturing unit in India are in their final leg and are likely to reach a conclusion soon, as per media reports. The announcement regarding the establishment of a Tesla manufacturing unit in the state will most probably take place in the upcoming Vibrant Gujarat Summit which is scheduled to be held in January 2024, Ahmedabad Mirror reported.

Also read:&nbsp;<a href="https://www.wionews.com/world/robot-at-teslas-texas-factory-attacked-engineer-leaving-a-trail-of-blood-report-673845">Robot at Tesla's Texas factory attacks engineer, leaving a 'trail of blood': Report</a>

The west Indian state of Gujarat has been a strategic location for setting up businesses for years now. Already, the state is home to manufacturing units of automakers like Maruti Suzuki. The Tesla manufacturing plant's possible location can be Sanand, Becharaji, and Dholera, as per the report. 
 
Till now, no official announcement has been made by the state government or the EV on this matter.

<h2>Minister hints at Musk's investment in Gujarat</h2>

Gujarat Health Minister and government spokesperson Rushikesh Patel had recently expressed optimism regarding Elon Musk's chances of making an investment in Gujarat. 
 
Speaking at a Cabinet briefing on Thursday (Dec 28), Gujarat Minister Rushikesh Patel said that awareness and alignment of Gujarat run parallel with the overarching goals of Tesla. 
 
He further emphasised that the government has been actively discussing with Tesla the finalisation of the deal for the establishment of the manufacturing plant in Gujarat.

Watch:&nbsp;Gravitas: Safety concerns over Tesla's robot attack &amp; fatal car malfunctions mount

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As per media reports, Gujarat has been the top destination for setting up Tesla's manufacturing plant not just because of the policies adopted by the state government but also because it boasts of proximity to ports which enables the export of the EV maker's products. 
 
Tesla can easily increase its exports from India from locations like Sanand because they are at a short distance from Kandla-Mundra port in Gujarat. 
 
In 2003, the vibrant Gujarat Global Summit was conceptualised, and the&nbsp;tenth edition to be held in January 2024&nbsp;will celebrate "20 years of Vibrant Gujarat as the Summit of Success".

The summit serves as a global platform for knowledge sharing, business networking and strategic partnerships for sustainable development and inclusive growth.

(With inputs from agencies)

Tesla will soon be entering the Indian market and the first manufacturing plant of the electric carmaker is likely to be set up in the Indian state of Gujarat next year.

Tesla will soon be entering the Indian market and the first manufacturing plant of the electric carmaker is likely to be set up in the Indian state of Gujarat next year. The ongoing negotiations for establishing the EV maker's first manufacturing unit in India are in their final leg and are likely to reach a conclusion soon, as per media reports. The announcement regarding the establishment of a Tesla manufacturing unit in the state will most probably take place in the upcoming Vibrant Gujarat Summit which is scheduled to be held in January 2024, Ahmedabad Mirror reported. Also read: Robot at Tesla's Texas factory attacks engineer, leaving a 'trail of blood': Report The west Indian state of Gujarat has been a strategic location for setting up businesses for years now. Already, the state is home to manufacturing units of automakers like Maruti Suzuki. The Tesla manufacturing plant's possible location can be Sanand, Becharaji, and Dholera, as per the report. Till now, no official announcement has been made by the state government or the EV on this matter. Minister hints at Musk's investment in Gujarat Gujarat Health Minister and government spokesperson Rushikesh Patel had recently expressed optimism regarding Elon Musk's chances of making an investment in Gujarat. Speaking at a Cabinet briefing on Thursday (Dec 28), Gujarat Minister Rushikesh Patel said that awareness and alignment of Gujarat run parallel with the overarching goals of Tesla. He further emphasised that the government has been actively discussing with Tesla the finalisation of the deal for the establishment of the manufacturing plant in Gujarat. Watch: Gravitas: Safety concerns over Tesla's robot attack & fatal car malfunctions mount As per media reports, Gujarat has been the top destination for setting up Tesla's manufacturing plant not just because of the policies adopted by the state government but also because it boasts of proximity to ports which enables the export of the EV maker's products. Tesla can easily increase its exports from India from locations like Sanand because they are at a short distance from Kandla-Mundra port in Gujarat. In 2003, the vibrant Gujarat Global Summit was conceptualised, and the tenth edition to be held in January 2024 will celebrate "20 years of Vibrant Gujarat as the Summit of Success". The summit serves as a global platform for knowledge sharing, business networking and strategic partnerships for sustainable development and inclusive growth. (With inputs from agencies)

Elon Musk's Tesla to set up first Indian manufacturing plant in Gujarat: Report

Tesla's Model X, a famous sports utility vehicle, made waves on social media after being spotted on a road in the Indian city of Bengaluru.

The red-coloured vehicle attracted attention near the Cubbon Park metro station, specifically at Minsk Square. Two distinct photos of the car circulated online, one capturing the vehicle at a traffic signal and the other showing&nbsp;it in motion.

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Tesla test drives Bengaluru roads 👌. 
 
📍Minsk Square <a href="https://twitter.com/hashtag/Tesla?src=hash&amp;ref_src=twsrc%5Etfw">#Tesla</a> <a href="https://twitter.com/hashtag/India?src=hash&amp;ref_src=twsrc%5Etfw">#India</a> <a href="https://twitter.com/hashtag/Bengaluru?src=hash&amp;ref_src=twsrc%5Etfw">#Bengaluru</a> <a href="https://twitter.com/hashtag/ElectricDrive?src=hash&amp;ref_src=twsrc%5Etfw">#ElectricDrive</a><a href="https://twitter.com/hashtag/BengaluruRoads?src=hash&amp;ref_src=twsrc%5Etfw">#BengaluruRoads</a><a href="https://twitter.com/hashtag/FutureOfMobility?src=hash&amp;ref_src=twsrc%5Etfw">#FutureOfMobility</a><a href="https://twitter.com/hashtag/TechInnovation?src=hash&amp;ref_src=twsrc%5Etfw">#TechInnovation</a> <a href="https://t.co/7A2HbS9SU6">pic.twitter.com/7A2HbS9SU6</a>
— North BangalorePost (@nBangalorepost) <a href="https://twitter.com/nBangalorepost/status/1740968159690338439?ref_src=twsrc%5Etfw">December 30, 2023</a></blockquote>
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<h2>Viral posts and user reactions</h2>

The posts featuring the Tesla Model X garnered significant traction with various&nbsp;retweets and user comments. Notably, discussions arose regarding the purpose of the vehicle's presence, with some speculating that it might not be a mere test drive.

A key observation mentioned by users was the Dubai number plate, leading to discussions on whether the car was privately owned or possibly used for an official visit.

<a href="https://www.wionews.com/india-news/elon-musks-tesla-to-set-up-first-indian-manufacturing-plant-in-gujarat-674748">Also read | Elon Musk's Tesla to set up first Indian manufacturing plant in Gujarat: Report</a>

User comments reflected a range of opinions on the nature of the Tesla Model X's appearance. Some users asserted that it could be part of an official visit, stressing&nbsp;the allowance for driving foreign-registered vehicles for a limited period. Others contended that the vehicle seemed more in line with a privately owned car, potentially registered in Dubai.

The social media conversation extended beyond photos, with one user sharing a video of a similar vehicle spotted in Koramangala a few days back.&nbsp;

Also watch |&nbsp;Tesla's new strategy after winning over EV lovers

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/teslas-new-strategy-after-winning-over-ev-lovers-675587/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<h2>Tesla's Indian venture in 2021</h2>

In 2021, Tesla took a significant step towards its Indian expansion by launching Tesla India Motors and Energy Private Ltd.

This move was part of the company's strategy to establish a manufacturing plant and research and development wing in India, marking a crucial development in Tesla's engagement with the Indian market.

The subsidiary, headquartered in Bengaluru, appointed Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein as directors.&nbsp;

(With inputs from agencies)

Tesla's Model X, a famous sports utility vehicle, made waves on social media after being spotted on a road in the Indian city of Bengaluru. The red-coloured vehicle attracted attention near the Cubbon Park metro station, specifically at Minsk Square.

Tesla's Model X, a famous sports utility vehicle, made waves on social media after being spotted on a road in the Indian city of Bengaluru. The red-coloured vehicle attracted attention near the Cubbon Park metro station, specifically at Minsk Square. Two distinct photos of the car circulated online, one capturing the vehicle at a traffic signal and the other showing it in motion. Tesla test drives Bengaluru roads 👌. 📍Minsk Square #Tesla #India #Bengaluru #ElectricDrive#BengaluruRoads#FutureOfMobility#TechInnovation pic.twitter.com/7A2HbS9SU6 — North BangalorePost (@nBangalorepost) December 30, 2023 × Viral posts and user reactions The posts featuring the Tesla Model X garnered significant traction with various retweets and user comments. Notably, discussions arose regarding the purpose of the vehicle's presence, with some speculating that it might not be a mere test drive. A key observation mentioned by users was the Dubai number plate, leading to discussions on whether the car was privately owned or possibly used for an official visit. Also read | Elon Musk's Tesla to set up first Indian manufacturing plant in Gujarat: Report User comments reflected a range of opinions on the nature of the Tesla Model X's appearance. Some users asserted that it could be part of an official visit, stressing the allowance for driving foreign-registered vehicles for a limited period. Others contended that the vehicle seemed more in line with a privately owned car, potentially registered in Dubai. The social media conversation extended beyond photos, with one user sharing a video of a similar vehicle spotted in Koramangala a few days back. Also watch | Tesla's new strategy after winning over EV lovers Tesla's Indian venture in 2021 In 2021, Tesla took a significant step towards its Indian expansion by launching Tesla India Motors and Energy Private Ltd. This move was part of the company's strategy to establish a manufacturing plant and research and development wing in India, marking a crucial development in Tesla's engagement with the Indian market. The subsidiary, headquartered in Bengaluru, appointed Vaibhav Taneja, Venkatrangam Sreeram, and David Jon Feinstein as directors. (With inputs from agencies)

India: Tesla car spotted in Bengaluru traffic, creates buzz on social media

In large part because of the devoted followers of Elon Musk and Tech-savvy early adopters Tesla is anticipated to announce on Tuesday that it had another record-breaking year for deliveries in 2023. The business is now trying to appeal to a wider audience.

Tesla's new strategy after winning over EV lovers

If reports are to be believed, Tesla is all set to open a manufacturing plant in the Indian state of Gujarat and Tesla is expected to make an official announcement at the vibrant Gujarat Summit which will take place in January next year.

Report: Tesla to set up manufacturing plant in Gujarat, India

Tesla is on the brink of another record quarter, showcasing its resilience amid a shifting global market. However, the journey is not without its challenges. As Tesla and other automakers slash prices to address slowing sales, a notable competitor, byd, emerges from China, intensifying the competition.

Tesla anticipates record deliveries in the face of market dynamics

Tesla is facing serious safety concerns following a spate of troubling incidents, including a robot attack on an engineer and fatal car malfunctions. The incident at Tesla's Giga Texas factory, where a robot attacked an employee, remained. This event, alongside reports of increasing fatal crashes linked to Tesla's Autopilot feature and allegations of using defective car parts, raises significant questions about the company's commitment to safety.

Gravitas: Safety concerns over Tesla's robot attack & fatal car malfunctions mount

Robots are the future, yet, many warn that the technology is a danger to humans. Lending weight to this warning, in a shocking incident, at Tesla's Giga Texas factory near Austin, a malfunctioning robot reportedly attacked an engineer.

As per a Daily Mail report, the incident occurred on November 10, 2021, in the section of the factory floor where the vehicle chassis is initially assembled.

The incident adds to concerns about workplace safety and the risks associated with automation.&nbsp;

<h2>The injuries</h2>

Witnesses reported that the robot, designed to grab and move freshly cast aluminium car parts, pinned the Tesla engineer, who was programming software for other robots nearby. The engineer suffered injuries to his back and arm, leaving a "trail of blood" on the factory surface.&nbsp;

The incident happened a couple of years back and was disclosed in a 2021 injury report filed by Tesla with the Travis County and federal regulators.

Also read |&nbsp;<a href="https://www.wionews.com/science/research-team-converts-human-cells-into-bots-that-repaired-tissue-damage-673808">Research team converts human cells into ‘bots’ that repaired tissue damage</a>

The injury report, submitted to maintain tax breaks in Texas, claimed that the engineer did not require time off work.

A brief entry makes mention of a "laceration, cut, open wound" suffered by an "engineer", and identifies the "cause object" as a "robot".

<h2>Is it all good?</h2>

As per the report, an attorney representing Tesla's Giga Texas contract workers has flagged concerns about under-reported injuries at the factory.&nbsp;

In an interview with Daily Mail, attorney Hannah Alexander stated that Tesla's reports to the authorities did not accurately reflect instances of injuries. Alexander, who works with the non-profit Workers Defense Project, cited her conversation with factory workers as proof.

As&nbsp;per Alexander, the under-reporting stretches to a worker's death on September 28, 2021. However, as per a report from the Travis County medical examiner, the worker, a contractor named Antelmo Ramírez, died of heat stroke. This reportedly happened while the construction worker was helping build Tesla's over 2,000-acre-long Giga Texas factory.

Also read |&nbsp;<a href="https://www.wionews.com/science/scientists-develop-wireless-charger-that-can-be-fitted-inside-human-body-673045">Scientists develop wireless charger that can be fitted inside human body, dissolve later</a>

"My advice would be to read that report with a grain of salt," she said.

"We've had multiple workers who were injured," said Alexander, adding, "and one worker who died, whose injuries or death are not in these reports that Tesla is supposed to be accurately completing and submitting to the county in order to get tax incentives."

Tesla is yet to release a statement on the issue.

<h2>Tesla's sub-par safety standards</h2>

Last year, the Workers Defense Project filed a complaint on behalf of workers at Giga Texas&nbsp;with the US Occupational Safety and Health Administration (OSHA). It alleged that Tesla's contractors and subcontractors gave some hires false safety certificates.

Previously, state regulators and investigative journalism non-profits have also voiced similar concerns about Tesla under-reporting cases.

An earlier report by the Center for Investigative Reporting's Reveal team found that to evade state regulators, Tesla had misclassified a number of on-the-job accidents and injuries as 'personal medical' cases.

Another report by California OSHA investigators found that, in 2018 alone, the company left out 36 injuries in its mandatory government filing.

(With inputs from agencies)

Robots are the future, yet, many warn that the technology is a danger to humans. Lending weight to this warning, in a shocking incident, at Tesla's Giga Texas factory near Austin, a malfunctioning robot reportedly attacked an engineer.

Robots are the future, yet, many warn that the technology is a danger to humans. Lending weight to this warning, in a shocking incident, at Tesla's Giga Texas factory near Austin, a malfunctioning robot reportedly attacked an engineer. As per a Daily Mail report, the incident occurred on November 10, 2021, in the section of the factory floor where the vehicle chassis is initially assembled. The incident adds to concerns about workplace safety and the risks associated with automation. The injuries Witnesses reported that the robot, designed to grab and move freshly cast aluminium car parts, pinned the Tesla engineer, who was programming software for other robots nearby. The engineer suffered injuries to his back and arm, leaving a "trail of blood" on the factory surface. The incident happened a couple of years back and was disclosed in a 2021 injury report filed by Tesla with the Travis County and federal regulators. Also read | Research team converts human cells into ‘bots’ that repaired tissue damage The injury report, submitted to maintain tax breaks in Texas, claimed that the engineer did not require time off work. A brief entry makes mention of a "laceration, cut, open wound" suffered by an "engineer", and identifies the "cause object" as a "robot". Is it all good? As per the report, an attorney representing Tesla's Giga Texas contract workers has flagged concerns about under-reported injuries at the factory. In an interview with Daily Mail, attorney Hannah Alexander stated that Tesla's reports to the authorities did not accurately reflect instances of injuries. Alexander, who works with the non-profit Workers Defense Project, cited her conversation with factory workers as proof. As per Alexander, the under-reporting stretches to a worker's death on September 28, 2021. However, as per a report from the Travis County medical examiner, the worker, a contractor named Antelmo Ramírez, died of heat stroke. This reportedly happened while the construction worker was helping build Tesla's over 2,000-acre-long Giga Texas factory. Also read | Scientists develop wireless charger that can be fitted inside human body, dissolve later "My advice would be to read that report with a grain of salt," she said. "We've had multiple workers who were injured," said Alexander, adding, "and one worker who died, whose injuries or death are not in these reports that Tesla is supposed to be accurately completing and submitting to the county in order to get tax incentives." Tesla is yet to release a statement on the issue. Tesla's sub-par safety standards Last year, the Workers Defense Project filed a complaint on behalf of workers at Giga Texas with the US Occupational Safety and Health Administration (OSHA). It alleged that Tesla's contractors and subcontractors gave some hires false safety certificates. Previously, state regulators and investigative journalism non-profits have also voiced similar concerns about Tesla under-reporting cases. An earlier report by the Center for Investigative Reporting's Reveal team found that to evade state regulators, Tesla had misclassified a number of on-the-job accidents and injuries as 'personal medical' cases. Another report by California OSHA investigators found that, in 2018 alone, the company left out 36 injuries in its mandatory government filing. (With inputs from agencies)

Robot at Tesla's Texas factory attacks engineer, leaving a 'trail of blood': Report

Tesla robot malfunctions, brutally attacks engineer

Chinese automaker BYD came within a whisker of toppling Tesla as the world's biggest electric car manufacturer in the July-September this year.

Who gets the global EV Crown?

Elon Musk's social media platform 'x' continues to be legal soup. Now, a federal judge has ruled that 'X' violated contracts by failing to pay millions of dollars in bonuses.

Judge: 'X' failed to pay millions of dollars in bonuses

Tesla has recalled more than 120,000 Model S and Model X vehicles&nbsp;in the United State over the risk of car doors getting unlocked and opening when the car crashes,&nbsp;said the automaker on Friday (Dec 22). 
 
An over-the-air (OTA) software update was released by Tesla for model years 2021-2023 which does not comply with federal safety standards needed for side-impact protection, said the National Highway Traffic Safety Administration (NHTSA). 
 
On Friday, Tesla in its filing with NHTSA, said it saw the unlatching of a cabin door after there was impact on the non-struck side in between routine crash test earlier this month.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/tesla-plans-to-launch-affordable-25000-euro-car-in-germany-source-says-655965">Tesla plans to launch affordable 25,000-euro car in Germany: Media reports</a>

The test vehicle was operational but did not have lockout functionality which Tesla found was excluded inadvertently from the software updates, which it started issuing in late 2021. 
 
Tesla stated that it was not aware of any injuries or warranty claims related to the issue.

<h2>Tesla recalled 2.03 million vehicles</h2>

Tesla last week had recalled all 2.03 million of its vehicles which were on the roads of the United States. This was the largest action taken by the company in the country for fixing or replacing a defective product. 
 
In the recall, the company was to install new safeguards in the car's Autopilot advanced driver-assistance system, after safety concerns were cited by NHTSA.

Watch:&nbsp;Tesla Cybertruck deliveries hostage to battery production hell

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/tesla-cybertruck-deliveries-hostage-to-battery-production-hell-672393/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Speaking to Reuters earlier this week, NHTSA said that it plans to test hardware and&nbsp;software updates which were installed by Tesla on vehicles recalled for the Autopilot issue. 
 
NHTSA said that the agency's Vehicle Research and Test Centre in Ohio has many vehicles of Tesla that will be used for evaluating ways to solve the issues. It will also look into additional information such as "real-world incident outcomes before and after the remedy rollout as well," it added. 
 
The agency added that the over-the-air remedy of Tesla has not been evaluated by the company “because it only received the software update on the vehicles it owns a few days ago.”

(With inputs from agencies)

Tesla has recalled more than 120,000 Model S and Model X vehicles in the United State over the risk of car doors getting unlocked and opening when the car crashes, said the automaker on Friday (Dec 22).

Tesla has recalled more than 120,000 Model S and Model X vehicles in the United State over the risk of car doors getting unlocked and opening when the car crashes, said the automaker on Friday (Dec 22). An over-the-air (OTA) software update was released by Tesla for model years 2021-2023 which does not comply with federal safety standards needed for side-impact protection, said the National Highway Traffic Safety Administration (NHTSA). On Friday, Tesla in its filing with NHTSA, said it saw the unlatching of a cabin door after there was impact on the non-struck side in between routine crash test earlier this month. Also read: Tesla plans to launch affordable 25,000-euro car in Germany: Media reports The test vehicle was operational but did not have lockout functionality which Tesla found was excluded inadvertently from the software updates, which it started issuing in late 2021. Tesla stated that it was not aware of any injuries or warranty claims related to the issue. Tesla recalled 2.03 million vehicles Tesla last week had recalled all 2.03 million of its vehicles which were on the roads of the United States. This was the largest action taken by the company in the country for fixing or replacing a defective product. In the recall, the company was to install new safeguards in the car's Autopilot advanced driver-assistance system, after safety concerns were cited by NHTSA. Watch: Tesla Cybertruck deliveries hostage to battery production hell Speaking to Reuters earlier this week, NHTSA said that it plans to test hardware and software updates which were installed by Tesla on vehicles recalled for the Autopilot issue. NHTSA said that the agency's Vehicle Research and Test Centre in Ohio has many vehicles of Tesla that will be used for evaluating ways to solve the issues. It will also look into additional information such as "real-world incident outcomes before and after the remedy rollout as well," it added. The agency added that the over-the-air remedy of Tesla has not been evaluated by the company “because it only received the software update on the vehicles it owns a few days ago.” (With inputs from agencies)

Tesla recalls 120,000 cars in United States over risk of doors getting unlocked during crash

Elon Musk says prototypes are easy, production is hell. And when it comes to the long-awaited Cybertruck, Tesla's hell is its pioneering 4680 battery. Tesla delivered the first of its futuristic stainless steel-plated electric pickups last month and CEO Musk said in October that it would probably hit an annual production rate of a quarter of a million vehicles at some point during 2025.

Tesla Cybertruck deliveries hostage to battery production hell

Tesla recently recalled over 2 million Vehicles across its model lineup to fix a defective Software System. That's nearly all the Tesla vehicles sold in the US till now. It's alleged that Elon Musk and Tesla Executives knew about Tesla's faulty Parts but blamed Tesla customers instead.

Tesla blamed customers to avoid repairs and recalls

Reports: Tesla knew about flawed suspension and blamed drivers for its faulty parts

Tesla has informed salaried employees that the company will not be offering merit-based equity awards this year. While no explicit reason was provided for this deviation from the norm, insights from four employees across different departments suggest a widespread impact, Bloomberg reported.&nbsp;

Despite the absence of merit-based stock grants, employees did receive modest cost-of-living increases and adjustments to their base salaries.&nbsp;

Typically, during annual performance reviews, employees expect both salary adjustments and merit-based stock grants. However, this year, even high-performing individuals were omitted from the merit-based grants, raising questions about whether this marks a one-time deviation or signals a broader shift in Tesla's compensation philosophy. &nbsp;

Tesla’s CEO Elon Musk, known for emphasising the significance of employee stock ownership, has often credited this compensation approach with maintaining competitive pay while preserving cash and fending off unionisation efforts. &nbsp;

Musk's concerns about retaining talented individuals in a competitive job market were voiced at the New York Times DealBook Summit last month, where he discussed the challenge of retaining employees amidst numerous alternative opportunities.&nbsp;

The alteration in compensation comes amid Musk's expressed worries about the global economy. Musk, currently the world's richest person, has been vocal about his concerns regarding high-interest rates and the state of commercial real estate. &nbsp;

On Tesla's recent earnings call, Chief Financial Officer Vaibhav Taneja highlighted the company's focus on cost-cutting in response to the "challenging economic environment". The broader implications of this adjustment in Tesla's compensation strategy remain to be seen.&nbsp;

(With inputs from Bloomberg)&nbsp;

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Tesla has informed salaried employees that the company will not be offering merit-based equity awards this year. While no explicit reason was provided for this deviation from the norm, insights from four employees across different departments suggest a widespread impact, Bloomberg reported.

Tesla has informed salaried employees that the company will not be offering merit-based equity awards this year. While no explicit reason was provided for this deviation from the norm, insights from four employees across different departments suggest a widespread impact, Bloomberg reported. Despite the absence of merit-based stock grants, employees did receive modest cost-of-living increases and adjustments to their base salaries. Typically, during annual performance reviews, employees expect both salary adjustments and merit-based stock grants. However, this year, even high-performing individuals were omitted from the merit-based grants, raising questions about whether this marks a one-time deviation or signals a broader shift in Tesla's compensation philosophy. Tesla’s CEO Elon Musk, known for emphasising the significance of employee stock ownership, has often credited this compensation approach with maintaining competitive pay while preserving cash and fending off unionisation efforts. Musk's concerns about retaining talented individuals in a competitive job market were voiced at the New York Times DealBook Summit last month, where he discussed the challenge of retaining employees amidst numerous alternative opportunities. The alteration in compensation comes amid Musk's expressed worries about the global economy. Musk, currently the world's richest person, has been vocal about his concerns regarding high-interest rates and the state of commercial real estate. On Tesla's recent earnings call, Chief Financial Officer Vaibhav Taneja highlighted the company's focus on cost-cutting in response to the "challenging economic environment". The broader implications of this adjustment in Tesla's compensation strategy remain to be seen. (With inputs from Bloomberg) WATCH WION LIVE HERE

Tesla alters employee compensation strategy, opts out of merit-based stock awards 

Tesla introduces a cutting-edge humanoid robot, while Meta grapples with a legal dispute over unauthorized use of copyrighted books. Catch all the latest tech buzz in our weekly Tech Wrap.

Optimus Gen 2: Tesla's new humanoid robot

Tesla is facing its largest-ever recall, affecting over 2 million vehicles equipped with the controversial autopilot system. The National Highway Traffic Safety Administration (NHTSA) has raised serious safety concerns over the technology, prompting Tesla to initiate extensive safety upgrades.

Tesla faces largest-ever recall over autopilot safety concerns | World DNA

Tesla, the electric car giant, is recalling more than 2 million vehicles following an investigation into its autopilot functionality found that it can be fooled and a misuse was possible. The two-year investigation was carried out by the National Highway Traffc Safety Administration (NHTSA), the US auto safety regulator. The watchdog looked into the Autopilot system after series of crashes involving the system. Some of the crashes were deadly.

The NHTSA has said that the autopilot does not adequately monitor whether the drivers are paying attention while the system is on. Contrary to its name, the autopilot is a partially automated system and requires that the human driver keeps their hands on the steering wheel even when the system is on. The regulator has said that this “can lead to foreseeable misuse of the system.”

Watch | Conspiracy theorist Alex Jones reinstated on X after Musk poll

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The more than two million vehicles recalled include models across the Tesla lineup of cars. It covers almost all cars Tesla sold in the US after it activated autopilot in 2015. The Elon Musk-led carmaker will send a software update to fix the issue with autopilot.

The company has said that it will release over-the-air software which will "incorporate additional controls and alerts to those already existing on affected vehicles to further encourage the driver to adhere to their continuous driving responsibility whenever autosteer is engaged," as reported by Reuters

As per The Associated Press, Tesla has admitted to NHTSA that autopilot controls “may not be sufficient to prevent driver misuse.”

 
Also Read | <a href="https://www.wionews.com/business-economy/teslas-cybertruck-angular-design-sparks-safety-concerns-experts-demand-crash-test-data-667834">Tesla Cybertruck's angular design sparks safety concerns, experts demand crash test data</a>

The documents posted by NHTSA reportedly say that Tesla's software update will add more controls and alerts “to further encourage the driver to adhere to their continuous driving responsibility,.”

<h2>The 'autopilot'</h2>

Tesla's autopilot system can automatically steer, accelerate and brake the car within its lane. The enhanced autopilot can help in changing lanes but it is not an autonomous system.

Also Read | <a href="https://www.wionews.com/world/musk-who-warned-about-threats-of-ai-seeks-to-raise-1-bn-for-his-chatbot-666709">Musk, who warned about 'threats' of AI, seeks to raise $1 billion for his chatbot</a>

Since 2016, the NHTSA has opened more than three dozen investigations into Tesla crashes involving Autopilot system.

The watchdog has pointed out that a driver may potentially deny responsibility for a crash when autopilot was on intentionally or unintentionally if he is not able to intervene to prevent the crash.

Tesla did not immediately release a public statement on this matter.

(With inputs from agencies)

Tesla, the electric car giant, is recalling more than 2 million vehicles following an investigation into its autopilot functionality found that it can be fooled and a misuse was possible.

Tesla, the electric car giant, is recalling more than 2 million vehicles following an investigation into its autopilot functionality found that it can be fooled and a misuse was possible. The two-year investigation was carried out by the National Highway Traffc Safety Administration (NHTSA), the US auto safety regulator. The watchdog looked into the Autopilot system after series of crashes involving the system. Some of the crashes were deadly. The NHTSA has said that the autopilot does not adequately monitor whether the drivers are paying attention while the system is on. Contrary to its name, the autopilot is a partially automated system and requires that the human driver keeps their hands on the steering wheel even when the system is on. The regulator has said that this “can lead to foreseeable misuse of the system.” Watch | Conspiracy theorist Alex Jones reinstated on X after Musk poll × The more than two million vehicles recalled include models across the Tesla lineup of cars. It covers almost all cars Tesla sold in the US after it activated autopilot in 2015. The Elon Musk-led carmaker will send a software update to fix the issue with autopilot. The company has said that it will release over-the-air software which will "incorporate additional controls and alerts to those already existing on affected vehicles to further encourage the driver to adhere to their continuous driving responsibility whenever autosteer is engaged," as reported by Reuters As per The Associated Press, Tesla has admitted to NHTSA that autopilot controls “may not be sufficient to prevent driver misuse.” Also Read | Tesla Cybertruck's angular design sparks safety concerns, experts demand crash test data The documents posted by NHTSA reportedly say that Tesla's software update will add more controls and alerts “to further encourage the driver to adhere to their continuous driving responsibility,.” The 'autopilot' Tesla's autopilot system can automatically steer, accelerate and brake the car within its lane. The enhanced autopilot can help in changing lanes but it is not an autonomous system. Also Read | Musk, who warned about 'threats' of AI, seeks to raise $1 billion for his chatbot Since 2016, the NHTSA has opened more than three dozen investigations into Tesla crashes involving Autopilot system. The watchdog has pointed out that a driver may potentially deny responsibility for a crash when autopilot was on intentionally or unintentionally if he is not able to intervene to prevent the crash. Tesla did not immediately release a public statement on this matter. (With inputs from agencies)

Tesla recalls two million vehicles in US over autopilot issue

The angular design of the recently launched Tesla Cybertruck has sparked safety concerns among experts, who are demanding that the vehicle's crash test data be shared, the news agency Reuters reported early Saturday (Dec 9).

The angular design of the recently launched Tesla Cybertruck has sparked safety concerns among experts, who are demanding that the vehicle's crash test data be shared, the news agency Reuters reported early Saturday (Dec 9). On Nov 30, Tesla launched the Cybertruck in its factory in Austin, and the crash test videos that it live-streamed were heavily discussed on social media. Tesla touted the structures of the truck as that absorb impact during the crash. In a post on X, Tesla's Chief Executive Officer (CEO) said on Tuesday that he was "highly confident" that Cybertruck would be safer than other trucks for occupants and pedestrians. The safety concerns Speaking to Reuters, safety experts said that the electric pickup truck's stiff stainless-steel exoskeleton could hurt pedestrians and cyclists and damage other vehicles on roads. As Tesla live-streamed the crash test videos during the launch event, experts demanded crash-test data to reach firm conclusions about safety. Also read: Tesla begins Cybertruck delivery, price starts from $60,990. Know more "The big problem there is if they really make the skin of the vehicle very stiff by using thick stainless steel, then when people hit their heads on it, it's going to cause more damage to them," said Adrian Lund, the former president of the Insurance Institute for Highway Safety (IIHS), whose vehicle crash tests are an industry standard. Samer Hamdar, a professor of auto safety at George Washington University raised concerns about limited crumple zones- which are parts of the car that can deform in a crash in a way to more safely absorb the energy of an impact. "There might be a possibility of shock-absorbent mechanism that will limit the fact that you have a limited crumple zone," Professor Hamdar said. "If you're in a crash with another vehicle that has a crumple zone and your car is more stiff, then their cars are going to crush and yours is resistant," David Friedman, the former acting head of the National Highway Traffic Safety Administration, said. Meanwhile, Julia Griswold, director of the University of California, Berkeley's Safe Transportation Research and Education Center, said she was alarmed by the crash test videos that Tesla live-streamed. She said the heavy weight of the trucks and their high acceleration "raise red flags for non-occupants." The Cybertruck is available at a starting price of $60,990, and Musk has said the vehicle will likely reach a production rate of roughly 250,000 Cybertrucks a year in 2025. (With inputs from agencies)

Tesla Cybertruck's angular design sparks safety concerns, experts demand crash test data

Tesla finds itself in the midst of a legal storm in sweden as strikes cripple operations and ignite a courtroom battle.

Tesla takes legal action amid swedish strikes

Get ready for the electric revolution in India. In the latest, Tesla is tying India with ambitious plans to set up a cutting edge factory - the goal is to produce an all-new affordable electric vehicle priced at just $24,000.

Elon Musk's Tesla to enter India soon?

Elon Musk's Tesla and India are closing in on an agreement that would allow the automaker to ship its electric cars to India from 2024 and set up a factory within two years, a report by the news agency Bloomberg said on Monday (Nov 21).

Elon Musk's Tesla and India are closing in on an agreement that would allow the automaker to ship its electric cars to India from 2024 and set up a factory within two years, a report by the news agency Bloomberg said on Monday (Nov 21). Speaking to Bloomberg, people familiar with the developments said that an announcement could come at the Vibrant Gujarat Global Summit in January. One of the persons said the states of Gujarat, Maharashtra and Tamil Nadu are under consideration as they already have well-established ecosystems for electric vehicles (EV) and exports. Another person said that Tesla will commit an initial minimum investment in any plant of around $2 billion, and would look to increase purchases of auto parts from India to as much as $15 billion. The automaker will also seek to make some batteries in the country to bring down costs, the person added. Indian minister visits Tesla plant, hails automaker's ties with New Delhi Nearly a week back, Indian Trade Minister Piyush Goyal visited Tesla's factory in California's Fremont and hailed the automaker's ties with New Delhi. Trade Minister Goyal said that Tesla was on track to double its import of components from India. In a post on X, Goyal said that he was proud to see the growing importance of auto component suppliers from India in the Tesla EV supply chain. The Modi government has been pushing to increase domestic manufacturing of EVs and encourage a more rapid adoption of cleaner transport. Bloomberg reported that in India, the demand for EVs is growing among aspirational middle-class consumers, and this could be a boon for Tesla. Currently, the automaker doesn't import cars directly to India due to the high tariffs that are levied. Bloomberg also reported that when its first locally made cars do go on sale they could retail for as little as $20,000. Elon Musk has criticised India's high import taxes and its EV policies. India, meanwhile, advised Tesla not to sell cars in the country that have been made in China. (With inputs from agencies)

Tesla to ship cars to India from 2024, set up factory within two years: Report

Indian Commerce Minster Piyush Goyal and tech mogul Elon Musk are expected to hold a meeting in US' San Francisco on the sidelines of the third in-person Indo-Pacific Economic Framework (IPEF) ministerial meeting on November 13-17, media reports said citing sources.&nbsp;

Reports said that talks between Goyal and Musk may feature discussions around Tesla's investments in India and talks on manufacturing of more Tesla components here.&nbsp;

The potential meeting between Goyal and Musk comes at a crucial juncture as US and China tensions are at an all-time high. Numerous US-based firms are looking for other markets as they plan to pull out of China and amid this, India provides a viable alternative with its emerging markets and a growing economy.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/us-president-biden-set-to-meet-chinas-xi-on-november-15-to-stabilise-ties-657351">US President Biden set to meet China's Xi on November 15 to 'stabilise' ties</a>

It also comes months after a meeting between Indian Prime Minister Narendra Modi and Musk in New York City where the Tesla CEO revealed that he is mulling over another India visit “next year.”&nbsp;

Musk had said at the time that he and Tesla are coming to India and added, “I am confident that Tesla will be in India and will do so as soon as humanly possible.”

The CEO of Tesla and SpaceX also exuded confidence in the Indian market, saying "We're hopefully looking forward to bringing Starlink to India as well. The Starlink Internet, which I think can be incredibly helpful for remote or rural villages in India."

Also Read |&nbsp;<a href="https://www.wionews.com/world/myanmar-military-junta-says-offensive-by-rebel-groups-funded-by-drug-trade-657344">Myanmar: Military junta says offensive by rebel groups funded by drug trade</a>

To give an impetus to India's economic ties with the US and boost its investments, the minister would also be meeting with CEOs of multinational companies, the startups community, among others.

<h2>Engagements during APEC Summit&nbsp;</h2>

The Indian minister Goyal will also be holding engagements in the Asia-Pacific Economic Cooperation Summit (APEC Summit) in San Francisco, US. 
&nbsp;

Additionally, Goyal is anticipated to meet US officials, including US Secretary of Commerce Gina Raimondo and US Trade Representative (USTR) Katherine Tai.&nbsp;

Watch |&nbsp;<a href="https://www.wionews.com/videos/india-us-defence-ministers-discuss-china-indo-pacific-657390">India-US defence ministers discuss China, Indo-Pacific</a>

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Launched in May 2022, IPEF is an economic initiative that has fourteen participating founding member nations in the Indo-Pacific region.&nbsp;During the ministerial meeting, the Commerce minister will also interact with ministers from other IPEF partner countries.&nbsp;

Goyal and Raimondo will further participate in the United States-India Business Council (USIBC).&nbsp;"We're going to be talking in that meeting with a number of companies, USIBC members, but also with startups in the innovation space to talk about how to foster even more unicorn-like startups between the United States and India," USIBC&nbsp; president&nbsp;Atul Keshap reportedly said.&nbsp;

(With inputs from agencies)

 
&nbsp;

Indian Commerce Minster Piyush Goyal and tech mogul Elon Musk are expected to hold a meeting in US' San Francisco on the sidelines of the third in-person Indo-Pacific Economic Framework (IPEF) ministerial meeting on November 13-17, media reports said citing sources.

Indian Commerce Minster Piyush Goyal and tech mogul Elon Musk are expected to hold a meeting in US' San Francisco on the sidelines of the third in-person Indo-Pacific Economic Framework (IPEF) ministerial meeting on November 13-17, media reports said citing sources. Reports said that talks between Goyal and Musk may feature discussions around Tesla's investments in India and talks on manufacturing of more Tesla components here. The potential meeting between Goyal and Musk comes at a crucial juncture as US and China tensions are at an all-time high. Numerous US-based firms are looking for other markets as they plan to pull out of China and amid this, India provides a viable alternative with its emerging markets and a growing economy. Also Read | US President Biden set to meet China's Xi on November 15 to 'stabilise' ties It also comes months after a meeting between Indian Prime Minister Narendra Modi and Musk in New York City where the Tesla CEO revealed that he is mulling over another India visit “next year.” Musk had said at the time that he and Tesla are coming to India and added, “I am confident that Tesla will be in India and will do so as soon as humanly possible.” The CEO of Tesla and SpaceX also exuded confidence in the Indian market, saying "We're hopefully looking forward to bringing Starlink to India as well. The Starlink Internet, which I think can be incredibly helpful for remote or rural villages in India." Also Read | Myanmar: Military junta says offensive by rebel groups funded by drug trade To give an impetus to India's economic ties with the US and boost its investments, the minister would also be meeting with CEOs of multinational companies, the startups community, among others. Engagements during APEC Summit The Indian minister Goyal will also be holding engagements in the Asia-Pacific Economic Cooperation Summit (APEC Summit) in San Francisco, US. Additionally, Goyal is anticipated to meet US officials, including US Secretary of Commerce Gina Raimondo and US Trade Representative (USTR) Katherine Tai. Watch | India-US defence ministers discuss China, Indo-Pacific × Launched in May 2022, IPEF is an economic initiative that has fourteen participating founding member nations in the Indo-Pacific region. During the ministerial meeting, the Commerce minister will also interact with ministers from other IPEF partner countries. Goyal and Raimondo will further participate in the United States-India Business Council (USIBC). "We're going to be talking in that meeting with a number of companies, USIBC members, but also with startups in the innovation space to talk about how to foster even more unicorn-like startups between the United States and India," USIBC president Atul Keshap reportedly said. (With inputs from agencies)

Commerce minister Piyush Goyal to meet Elon Musk, discuss Tesla's investment in India

Tesla revs up India manufacturing plans

Tesla, the electric vehicle pioneer, is reportedly gearing up to produce a more affordable electric car with a price tag of 25,000 euros (approximately $26,838) at its factory located near Berlin, a Reuters report said, citing an anonymous source familiar with the matter. The development signals a significant move for Tesla as it aims to promote wider adoption of its electric vehicles.&nbsp;

The source, who opted to remain unnamed, did not specify when production of the affordable model would commence. Tesla declined to provide official comments on the matter. In response to this news, Tesla's shares experienced a 3 per cent increase in pre-market trading in the United States at 0910 GMT. &nbsp;

The relatively high cost is impeding the widespread adoption of electric cars&nbsp;in Europe and the United States.&nbsp;Moreover, the cost of electric cars have been compounded by elevated interest rates. In the first half of 2023, the average retail price of an electric vehicle in Europe exceeded 65,000 euros ($69,000), as reported by automotive research firm JATO Dynamics. In contrast, the average price of an electric car in China was just over 31,000 euros ($33,000).&nbsp;

Tesla's CEO Elon Musk has been&nbsp;expressing his desire&nbsp;to develop a more affordable electric car. In September, insider sources revealed that Tesla has made significant progress in the development of an innovation that would enable the casting of nearly the entire underbody of electric vehicles in one piece. This advancement would lead to increased production efficiency and reduced costs.&nbsp;

Tesla's strategy to expand into the mass market is crucial in achieving its goal of delivering 20 million vehicles by 2030, setting it apart from competitors like Volkswagen, a company which has&nbsp;focused on preserving profit margins during the electric vehicle transition without setting specific delivery targets.&nbsp;

CEO Elon Musk recently visited the Tesla plant in Gruenheide, Germany, where he revealed plans to produce the 25,000-euro vehicle at the German plant, marking a significant development in the company's strategy. The Gruenheide plant currently manufactures the Model Y, which is the best-selling electric vehicle in Europe.&nbsp;

Tesla has intentions to double the manufacturing capacity of its German plant, with the goal of producing up to 1 million vehicles annually. The company has not released updated production figures since March when it announced the production of 5,000 vehicles per week, equivalent to approximately 250,000 vehicles annually.&nbsp;

Local authorities in Germany have requested additional information from Tesla regarding how their expansion plans align with conservation laws. A decision on whether to approve the expansion is pending, with no specific timeframe provided.&nbsp;

Furthermore, Tesla announced a four&nbsp;per cent wage increase for all employees, effective from November onwards. Production workers will also receive an additional 2,500 euros ($2,600) per year starting from February 2024, representing an 18 per cent pay increase over a one-to-one-and-a-half-year period. German union IG Metall had previously noted that Tesla's wages were approximately 20 per cent lower than those offered under collective bargaining agreements at other car manufacturers.&nbsp;

(With inputs from Reuters)&nbsp;

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Tesla, the electric vehicle pioneer, is reportedly gearing up to produce a more affordable electric car with a price tag of 25,000 euros (approximately $26,838) at its factory located near Berlin, a Reuters report said, citing an anonymous source familiar with the matter.

Tesla, the electric vehicle pioneer, is reportedly gearing up to produce a more affordable electric car with a price tag of 25,000 euros (approximately $26,838) at its factory located near Berlin, a Reuters report said, citing an anonymous source familiar with the matter. The development signals a significant move for Tesla as it aims to promote wider adoption of its electric vehicles. The source, who opted to remain unnamed, did not specify when production of the affordable model would commence. Tesla declined to provide official comments on the matter. In response to this news, Tesla's shares experienced a 3 per cent increase in pre-market trading in the United States at 0910 GMT. The relatively high cost is impeding the widespread adoption of electric cars in Europe and the United States. Moreover, the cost of electric cars have been compounded by elevated interest rates. In the first half of 2023, the average retail price of an electric vehicle in Europe exceeded 65,000 euros ($69,000), as reported by automotive research firm JATO Dynamics. In contrast, the average price of an electric car in China was just over 31,000 euros ($33,000). Tesla's CEO Elon Musk has been expressing his desire to develop a more affordable electric car. In September, insider sources revealed that Tesla has made significant progress in the development of an innovation that would enable the casting of nearly the entire underbody of electric vehicles in one piece. This advancement would lead to increased production efficiency and reduced costs. Tesla's strategy to expand into the mass market is crucial in achieving its goal of delivering 20 million vehicles by 2030, setting it apart from competitors like Volkswagen, a company which has focused on preserving profit margins during the electric vehicle transition without setting specific delivery targets. CEO Elon Musk recently visited the Tesla plant in Gruenheide, Germany, where he revealed plans to produce the 25,000-euro vehicle at the German plant, marking a significant development in the company's strategy. The Gruenheide plant currently manufactures the Model Y, which is the best-selling electric vehicle in Europe. Tesla has intentions to double the manufacturing capacity of its German plant, with the goal of producing up to 1 million vehicles annually. The company has not released updated production figures since March when it announced the production of 5,000 vehicles per week, equivalent to approximately 250,000 vehicles annually. Local authorities in Germany have requested additional information from Tesla regarding how their expansion plans align with conservation laws. A decision on whether to approve the expansion is pending, with no specific timeframe provided. Furthermore, Tesla announced a four per cent wage increase for all employees, effective from November onwards. Production workers will also receive an additional 2,500 euros ($2,600) per year starting from February 2024, representing an 18 per cent pay increase over a one-to-one-and-a-half-year period. German union IG Metall had previously noted that Tesla's wages were approximately 20 per cent lower than those offered under collective bargaining agreements at other car manufacturers. (With inputs from Reuters) WATCH WION LIVE HERE

Tesla plans to launch affordable 25,000-euro car in Germany: Media reports

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

WeWork, once a pinnacle of tech innovation, files for bankruptcy as challenges mount&nbsp;

WeWork, the office-sharing start-up backed by SoftBank Group, which once held the title of the most valuable U.S. start-up, filed for bankruptcy protection, a Reuters report said on Monday. The company's rise and fall has had a profound impact on the global office sector, as it grappled with mounting challenges, including the impact of remote work on its business.&nbsp;

<a href="https://www.wionews.com/business-economy/wework-once-a-pinnacle-of-tech-innovation-files-for-bankruptcy-as-challenges-mount-655956">Read more here</a>

Mexican 'nearshoring' fosters optimism in business landscape&nbsp;

In Mexico, businesses, especially those in the real estate and construction sectors, are embracing the concept of "nearshoring" to drive profits and stimulate economic growth, primarily in industrial zones near the U.S. border. The Mexican government anticipates that nearshoring, characterised by moving manufacturing capacity closer to the U.S. market instead of Asia, could contribute up to 1.2 percentage points to the nation's economic growth, which is projected to reach 3.5 per cent this year.&nbsp;

<a href="https://www.wionews.com/business-economy/mexican-nearshoring-fosters-optimism-in-business-landscape-655964">Read more here</a>

Tesla plans to launch affordable 25,000-euro car in Germany: Media reports

Tesla, the electric vehicle pioneer, is reportedly gearing up to produce a more affordable electric car with a price tag of 25,000 euros (approximately $26,838) at its factory located near Berlin, a Reuters report said, citing an anonymous source familiar with the matter. The development signals a significant move for Tesla as it aims to promote wider adoption of its electric vehicles.&nbsp;

<a href="https://www.wionews.com/business-economy/tesla-plans-to-launch-affordable-25000-euro-car-in-germany-source-says-655965">Read more here</a>

Carbon Copies: Corporations racing to net zero, but few cross the finish line

A report by Net Zero Tracker reveals specific challenges faced by corporations. Only a fraction of companies extend their net-zero targets to encompass Scope 3 emissions, which are linked to a company's value chain. Furthermore, a limited number of firms have set quality thresholds for the use of carbon offsets in their sustainability strategies.

<a href="https://www.wionews.com/business-economy/carbon-copies-corporations-racing-to-net-zero-but-few-cross-the-finish-line-655975">Read more here</a>

Airbnb's Italian Job: Seizure of $835.5 million sparks tax evasion storm

An Italian judge has issued an order to seize $835.5 million from the short-term rental giant Airbnb on the grounds of alleged tax evasion. This move comes as prosecutors claim that Airbnb failed to collect a 21 per cent tax on roughly €3.7 billion of rental income, which landlords in Italy are obligated to pay.

<a href="here https://www.wionews.com/business-economy/airbnbs-italian-job-seizure-of-8355-million-sparks-tax-evasion-storm-655991">Read more here</a>

Byju's in advanced talks to sell EPIC to Joffre Capital for $400 million&nbsp;

Indian ed-tech company Byju's is reportedly in the final stages of discussions to sell its US-based children's digital reading platform, Epic! Creations, to private equity fund Joffre Capital for approximately $400 million. The move is seen as an effort to secure financial support and alleviate the company's ongoing financial challenges, according to Bloomberg sources.&nbsp;

<a href="https://www.wionews.com/business-economy/byjus-in-advanced-talks-to-sell-epic-to-joffre-capital-for-400-million-656004">Read more here</a>

IMF economists highlight Singapore's strong preference for remote work

A recent article by two economists in the Monetary Authority of Singapore's biannual report have highlighted the growing preference for remote work among Singapore's workforce. Analysis by International Monetary Fund (IMF) economists Shujaat Khan and Margaux MacDonald showed that over 70 per cent of Singaporean workers prefer remote work.&nbsp;

<a href="https://www.wionews.com/business-economy/imf-economists-highlight-singapores-strong-preference-for-remote-work-in-recent-analysis-656018">Read more here</a>

Citigroup considers significant job cuts in major restructuring: Report&nbsp;

Citigroup is reportedly contemplating substantial job reductions of at least 10 per cent in several of its major business segments as part of a comprehensive reorganisation effort led by CEO Jane Fraser, a CNBC report said citing sources. The internal initiative, known as "Project Bora Bora", is aimed at providing CEO Jane Fraser with more direct control as she endeavours to simplify Citigroup and enhance its stock performance.&nbsp;

<a href="https://www.wionews.com/business-economy/citigroup-considers-significant-job-cuts-in-major-restructuring-report-656007 ">Read more here</a>

Saab's becomes first foreign defence company to get government nod for 100pc FDI

In a landmark development, Swedish defence giant Saab has achieved a significant milestone by becoming the first foreign company to secure 100 per cent Foreign Direct Investment (FDI) approval for a defence project in India. According to The Economic Times, Saab has been given the green light to establish a new manufacturing facility in India, which will focus on producing shoulder-fired rockets.

<a href="https://www.wionews.com/business-economy/saabs-becomes-first-foreign-defence-company-to-get-government-nod-for-100pc-fdi-656050">Read more here</a>

Shocker ahead of Christmas: British consumer spending growth slows

Recent data from Barclays reveals a worrying trend in the spending habits of consumers in the United Kingdom. The data shows that there has been a slowdown in the growth of consumer spending, which is now at its lowest level in over a year.

<a href="https://www.wionews.com/business-economy/shocker-ahead-of-christmas-british-consumer-spending-growth-slows-656058">Read more here</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. WeWork, once a pinnacle of tech innovation, files for bankruptcy as challenges mount WeWork, the office-sharing start-up backed by SoftBank Group, which once held the title of the most valuable U.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. WeWork, once a pinnacle of tech innovation, files for bankruptcy as challenges mount WeWork, the office-sharing start-up backed by SoftBank Group, which once held the title of the most valuable U.S. start-up, filed for bankruptcy protection, a Reuters report said on Monday. The company's rise and fall has had a profound impact on the global office sector, as it grappled with mounting challenges, including the impact of remote work on its business. Read more here Mexican 'nearshoring' fosters optimism in business landscape In Mexico, businesses, especially those in the real estate and construction sectors, are embracing the concept of "nearshoring" to drive profits and stimulate economic growth, primarily in industrial zones near the U.S. border. The Mexican government anticipates that nearshoring, characterised by moving manufacturing capacity closer to the U.S. market instead of Asia, could contribute up to 1.2 percentage points to the nation's economic growth, which is projected to reach 3.5 per cent this year. Read more here Tesla plans to launch affordable 25,000-euro car in Germany: Media reports Tesla, the electric vehicle pioneer, is reportedly gearing up to produce a more affordable electric car with a price tag of 25,000 euros (approximately $26,838) at its factory located near Berlin, a Reuters report said, citing an anonymous source familiar with the matter. The development signals a significant move for Tesla as it aims to promote wider adoption of its electric vehicles. Read more here Carbon Copies: Corporations racing to net zero, but few cross the finish line A report by Net Zero Tracker reveals specific challenges faced by corporations. Only a fraction of companies extend their net-zero targets to encompass Scope 3 emissions, which are linked to a company's value chain. Furthermore, a limited number of firms have set quality thresholds for the use of carbon offsets in their sustainability strategies. Read more here Airbnb's Italian Job: Seizure of $835.5 million sparks tax evasion storm An Italian judge has issued an order to seize $835.5 million from the short-term rental giant Airbnb on the grounds of alleged tax evasion. This move comes as prosecutors claim that Airbnb failed to collect a 21 per cent tax on roughly €3.7 billion of rental income, which landlords in Italy are obligated to pay. Read more here Byju's in advanced talks to sell EPIC to Joffre Capital for $400 million Indian ed-tech company Byju's is reportedly in the final stages of discussions to sell its US-based children's digital reading platform, Epic! Creations, to private equity fund Joffre Capital for approximately $400 million. The move is seen as an effort to secure financial support and alleviate the company's ongoing financial challenges, according to Bloomberg sources. Read more here IMF economists highlight Singapore's strong preference for remote work A recent article by two economists in the Monetary Authority of Singapore's biannual report have highlighted the growing preference for remote work among Singapore's workforce. Analysis by International Monetary Fund (IMF) economists Shujaat Khan and Margaux MacDonald showed that over 70 per cent of Singaporean workers prefer remote work. Read more here Citigroup considers significant job cuts in major restructuring: Report Citigroup is reportedly contemplating substantial job reductions of at least 10 per cent in several of its major business segments as part of a comprehensive reorganisation effort led by CEO Jane Fraser, a CNBC report said citing sources. The internal initiative, known as "Project Bora Bora", is aimed at providing CEO Jane Fraser with more direct control as she endeavours to simplify Citigroup and enhance its stock performance. Read more here Saab's becomes first foreign defence company to get government nod for 100pc FDI In a landmark development, Swedish defence giant Saab has achieved a significant milestone by becoming the first foreign company to secure 100 per cent Foreign Direct Investment (FDI) approval for a defence project in India. According to The Economic Times, Saab has been given the green light to establish a new manufacturing facility in India, which will focus on producing shoulder-fired rockets. Read more here Shocker ahead of Christmas: British consumer spending growth slows Recent data from Barclays reveals a worrying trend in the spending habits of consumers in the United Kingdom. The data shows that there has been a slowdown in the growth of consumer spending, which is now at its lowest level in over a year. Read more here

Wion Business Wrap | WeWork's bankruptcy, Airbnb's troubles & more

India's Prime Minister Office (PMO) led by Narendra Modi has reportedly directed concerned governmental departments to fast-track pending investment proposals by Tesla, the American EV auto giant owned by billionaire Elon Musk, by January 2024.

According to a report by the Economic Times, the PMO recently held meetings regarding the next phase of electric vehicle manufacturing in India, in which Tesla's pending investment proposal was also discussed.

The report quoted a senior government official as saying that the PMO emphasised the need to expedite Tesla's proposed investments in India.

Following PMO's intervention, ministries, including commerce and industry, heavy industry, and electronics and IT, are likely to prioritise their engagements with Tesla officials.

The decision comes after the June 2023 meeting between PM Modi and Musk. It also comes before US President Joe Biden’s potential visit to India as he has been invited to attend India’s Republic Day celebrations on January 26.

<h2>Point of contention between Tesla and India</h2>

According to reports, Tesla officials have long demanded India open up its market for the EV giant. Tesla has also promised to develop its supply chain ecosystem in India.

However, the Musk-owned company has stopped short of making any commitment to set up its manufacturing plant in India, something India views as a critical factor in determining its market access.

<a href="https://www.wionews.com/business-economy/elon-musk-choosing-india-over-china-big-meet-in-delhi-to-decide-teslas-road-to-india-593390">Also read:&nbsp;Elon Musk choosing India over China? Big meet to decide Tesla's road to New Delhi</a>

In a recent interview, India’s Minister for Road Transport Nitin Gadkari sent out a clear message to Elon Musk: Tesla was welcome in India but only if it manufactures locally.

“We welcome Tesla to India. India is a big market with all types of vendors present here. If it manufactures locally in India, it will get concessions,” Gadkari said.

<h2>Import duty</h2>

Tesla is also seeking a reduction in existing import duty on fully assembled electric cars from 60 per cent to 40 per cent.

To address this issue, India is said to have created a new arrangement, especially for eco-friendly EVs, where extra relaxations could be offered on import duty.

Watch:&nbsp;JSW &amp; Tesla leading India's ambitious electric vehicle plans

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Tesla insists that it first wants to start selling cars in India, assess market behaviour and then take a decision regarding setting up of local manufacturing unit.

(With inputs from agencies)

India's Prime Minister Office (PMO) led by Narendra Modi has reportedly directed concerned governmental departments to fast-track pending investment proposals by Tesla, the American EV auto giant owned by billionaire Elon Musk, by January 2024.

India's Prime Minister Office (PMO) led by Narendra Modi has reportedly directed concerned governmental departments to fast-track pending investment proposals by Tesla, the American EV auto giant owned by billionaire Elon Musk, by January 2024. According to a report by the Economic Times, the PMO recently held meetings regarding the next phase of electric vehicle manufacturing in India, in which Tesla's pending investment proposal was also discussed. The report quoted a senior government official as saying that the PMO emphasised the need to expedite Tesla's proposed investments in India. Following PMO's intervention, ministries, including commerce and industry, heavy industry, and electronics and IT, are likely to prioritise their engagements with Tesla officials. The decision comes after the June 2023 meeting between PM Modi and Musk. It also comes before US President Joe Biden’s potential visit to India as he has been invited to attend India’s Republic Day celebrations on January 26. Point of contention between Tesla and India According to reports, Tesla officials have long demanded India open up its market for the EV giant. Tesla has also promised to develop its supply chain ecosystem in India. However, the Musk-owned company has stopped short of making any commitment to set up its manufacturing plant in India, something India views as a critical factor in determining its market access. Also read: Elon Musk choosing India over China? Big meet to decide Tesla's road to New Delhi In a recent interview, India’s Minister for Road Transport Nitin Gadkari sent out a clear message to Elon Musk: Tesla was welcome in India but only if it manufactures locally. “We welcome Tesla to India. India is a big market with all types of vendors present here. If it manufactures locally in India, it will get concessions,” Gadkari said. Import duty Tesla is also seeking a reduction in existing import duty on fully assembled electric cars from 60 per cent to 40 per cent. To address this issue, India is said to have created a new arrangement, especially for eco-friendly EVs, where extra relaxations could be offered on import duty. Watch: JSW & Tesla leading India's ambitious electric vehicle plans × Tesla insists that it first wants to start selling cars in India, assess market behaviour and then take a decision regarding setting up of local manufacturing unit. (With inputs from agencies)

PM Modi’s office directs ministries to clear Tesla proposals by January: Report

Tesla & other big automakers are in a bind after investing heavily in the booming electric car market. Their dilemma -- what to do when demand cools? The market for electric vehicles is still growing, albeit at a far slower rate than in the past. Tesla, the market leader in electric vehicles, and traditional automakers are now proceeding with caution.

EV makers worry about the possibility of falling demand

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