<p>Tesla is sacking some of its employees working on battery production lines at its Shanghai plant, Bloomberg reported Friday. The move comes amidst an aggressive price war in China, where electric car manufacturers are offering incredible discounts to grab a larger market share.</p>

<p>However, it was not clear how many employees would be fired or what was the reason behind these layoffs. But a Mint report indicated that the process of installing automation equipment at the plant was underway, which could replace human labour.</p>

<p>As per media reports, around 1,000 workers are employed at the two battery production lines at the plant.<br />
Make no mistake, Tesla’s Gigafactory in Shanghai is its largest and most productive plant, employing more than 20,000 workers in total and producing more than a million cars in a year.</p>

<h2><strong>Sacked employees offered to work at alternative workshops</strong></h2>

<p>As per the Mint report, the sacked employees have been offered to work at alternative workshops within the Shanghai factory, such as stamping, painting, or general assembly.</p>

<p><strong>Watch:&nbsp;Tesla’s stock soars by $57 billion</strong></p>

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<p>The process is a part of the ongoing restructuring programme at the Tesla factory, a decision regarding which was taken earlier this week.</p>

<h2><strong>Ongoing price war in China’s EV market</strong></h2>

<p>Tesla on Friday declared that it will offer a cash bonus equivalent to $500 to new buyers of its top car models in China if they produce a referral code given by an existing owner. Tesla would offer new buyers of its Model Y and Model 3 vehicles a cash rebate of 3,500 yuan ($483) if they could cite a referral from an existing owner, reported Reuters.</p>

<p>Tesla also announced that new buyers will be given free access to its Enhanced Autopilot driver-assistance system for 90 days.&nbsp;</p>

<p><a href="https://www.wionews.com/business-economy/tesla-secures-big-win-in-crash-case-court-says-autopilot-feature-did-not-fail-584976"><strong>Also read:&nbsp;Tesla secures big win in crash case, court says autopilot feature did not fail</strong></a></p>

<p>Tesla has made significant price cuts for its Model 3 sedan and Model Y in China, in an effort to compete in the country's electric vehicle market. The base price of the Model 3 has been reduced by 14 per cent, while the Model Y's price has been lowered by 10 per cent. This move by Tesla comes after the company joined forces with 15 other companies, including prominent Chinese EV manufacturers like Nio, Li Auto, and Xpeng.&nbsp;</p>

<p>They made a pledge organised by the China Association of Automobile Manufacturers to avoid engaging in "abnormal pricing."&nbsp;</p>

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Tesla is sacking some of its employees working on battery production lines at its Shanghai plant, Bloomberg reported Friday. The move comes amidst an aggressive price war in China, where electric car manufacturers are offering incredible discounts to grab a larger market share.

Tesla is sacking some of its employees working on battery production lines at its Shanghai plant, Bloomberg reported Friday. The move comes amidst an aggressive price war in China, where electric car manufacturers are offering incredible discounts to grab a larger market share. However, it was not clear how many employees would be fired or what was the reason behind these layoffs. But a Mint report indicated that the process of installing automation equipment at the plant was underway, which could replace human labour. As per media reports, around 1,000 workers are employed at the two battery production lines at the plant. Make no mistake, Tesla’s Gigafactory in Shanghai is its largest and most productive plant, employing more than 20,000 workers in total and producing more than a million cars in a year. Sacked employees offered to work at alternative workshops As per the Mint report, the sacked employees have been offered to work at alternative workshops within the Shanghai factory, such as stamping, painting, or general assembly. Watch: Tesla’s stock soars by $57 billion × The process is a part of the ongoing restructuring programme at the Tesla factory, a decision regarding which was taken earlier this week. Ongoing price war in China’s EV market Tesla on Friday declared that it will offer a cash bonus equivalent to $500 to new buyers of its top car models in China if they produce a referral code given by an existing owner. Tesla would offer new buyers of its Model Y and Model 3 vehicles a cash rebate of 3,500 yuan ($483) if they could cite a referral from an existing owner, reported Reuters. Tesla also announced that new buyers will be given free access to its Enhanced Autopilot driver-assistance system for 90 days. Also read: Tesla secures big win in crash case, court says autopilot feature did not fail Tesla has made significant price cuts for its Model 3 sedan and Model Y in China, in an effort to compete in the country's electric vehicle market. The base price of the Model 3 has been reduced by 14 per cent, while the Model Y's price has been lowered by 10 per cent. This move by Tesla comes after the company joined forces with 15 other companies, including prominent Chinese EV manufacturers like Nio, Li Auto, and Xpeng. They made a pledge organised by the China Association of Automobile Manufacturers to avoid engaging in "abnormal pricing." WATCH WION LIVE HERE ×

Tesla announces layoffs at Shanghai plant amid reports of automation

<p>Elon Musk, the CEO of electric car giant Tesla, announced on Thursday that the company is on the verge of achieving fully autonomous vehicles "later this year."</p>

<p>Speaking via video link at an artificial intelligence conference in Shanghai, Musk expressed his confidence in Tesla's progress towards achieving full self-driving capabilities.</p>

<p>"In terms of where Tesla is at this stage, I think we are very close to achieving full self-driving without human supervision," he said.</p>

<h2><strong>Elon Musk and his predictions</strong></h2>

<p>While acknowledging that he had previously made predictions that did not come to fruition, Musk emphasised that Tesla is closer than ever to achieving this significant milestone. He said he remains optimistic about the progress being made by Tesla's autonomous driving technology.</p>

<p><strong>Also read |<a href="https://www.wionews.com/business-economy/elon-musks-tesla-adds-hundreds-of-billions-in-valuation-amid-ai-race-603083">Elon Musk's Tesla adds hundreds of billions in valuation amid AI race</a></strong></p>

<p>"I feel like we're closer to it than we ever have been," said the Tesla owner.</p>

<p>He specifically mentioned the possibility of achieving what he referred to as "four or five," which represents two of the most advanced levels of autonomous driving technology.</p>

<p>"This is only speculation, but I think we'll achieve full self-driving, maybe what you would call four or five, I think later this year."</p>

<p>Musk's latest forecast comes after Tesla faced regulatory scrutiny over its driver-assistance technology in the United States.</p>

<h2><strong>Musk to strengthen Tesla's&nbsp;presence in China</strong></h2>

<p>As per AFP, Musk's appearance at the World Artificial Intelligence Conference in Shanghai marks part of his ongoing efforts to strengthen Tesla's presence in China and leverage the country's thriving electric vehicle market.</p>

<p>China is currently the largest electric vehicle market globally, with EVs making up a quarter of all car sales in the country.</p>

<p><strong>Also read | <a href="https://www.wionews.com/technology/elon-musk-tesla-sued-by-shareholders-over-misleading-self-driving-claims-566635">Elon Musk, Tesla sued by shareholders over ‘misleading’ self-driving claims</a></strong></p>

<p>Tesla's decision to build a second factory in Shanghai underscores its commitment to this important market.</p>

<p>With electric vehicles accounting for a significant portion of car sales in China, Tesla faces competition from both domestic and Western brands. Tesla, as per the news agency report, has faced some challenges recently, including a drop in first-quarter earnings and had to implement price cuts to remain competitive.</p>

<h2><strong>Tesla's autopilot nightmare</strong></h2>

<p>Reuters reports that the US National Highway Traffic Safety Administration (NHTSA) is currently looking into 830,000 Tesla vehicles and their autopilot system. On July 3rd, the US safety regulator requested updated responses and current data from Tesla regarding the performance of autopilot and its role in over a dozen crashes involving emergency vehicles. The NHTSA is also looking into whether Tesla vehicles ensure that drivers remain attentive while using the driver assistance system.</p>

<p><em>(With inputs from agencies)</em><br />
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Elon Musk, the CEO of electric car giant Tesla, announced on Thursday that the company is on the verge of achieving fully autonomous vehicles "later this year." Speaking via video link at an artificial intelligence conference in Shanghai, Musk expressed his confidence in Tesla's progress towards achieving full self-driving capabilities.

Elon Musk, the CEO of electric car giant Tesla, announced on Thursday that the company is on the verge of achieving fully autonomous vehicles "later this year." Speaking via video link at an artificial intelligence conference in Shanghai, Musk expressed his confidence in Tesla's progress towards achieving full self-driving capabilities. "In terms of where Tesla is at this stage, I think we are very close to achieving full self-driving without human supervision," he said. Elon Musk and his predictions While acknowledging that he had previously made predictions that did not come to fruition, Musk emphasised that Tesla is closer than ever to achieving this significant milestone. He said he remains optimistic about the progress being made by Tesla's autonomous driving technology. Also read |Elon Musk's Tesla adds hundreds of billions in valuation amid AI race "I feel like we're closer to it than we ever have been," said the Tesla owner. He specifically mentioned the possibility of achieving what he referred to as "four or five," which represents two of the most advanced levels of autonomous driving technology. "This is only speculation, but I think we'll achieve full self-driving, maybe what you would call four or five, I think later this year." Musk's latest forecast comes after Tesla faced regulatory scrutiny over its driver-assistance technology in the United States. Musk to strengthen Tesla's presence in China As per AFP, Musk's appearance at the World Artificial Intelligence Conference in Shanghai marks part of his ongoing efforts to strengthen Tesla's presence in China and leverage the country's thriving electric vehicle market. China is currently the largest electric vehicle market globally, with EVs making up a quarter of all car sales in the country. Also read | Elon Musk, Tesla sued by shareholders over ‘misleading’ self-driving claims Tesla's decision to build a second factory in Shanghai underscores its commitment to this important market. With electric vehicles accounting for a significant portion of car sales in China, Tesla faces competition from both domestic and Western brands. Tesla, as per the news agency report, has faced some challenges recently, including a drop in first-quarter earnings and had to implement price cuts to remain competitive. Tesla's autopilot nightmare Reuters reports that the US National Highway Traffic Safety Administration (NHTSA) is currently looking into 830,000 Tesla vehicles and their autopilot system. On July 3rd, the US safety regulator requested updated responses and current data from Tesla regarding the performance of autopilot and its role in over a dozen crashes involving emergency vehicles. The NHTSA is also looking into whether Tesla vehicles ensure that drivers remain attentive while using the driver assistance system. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk expects fully autonomous self-driving Tesla vehicles 'later this year'

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

<p>Tesla and Rivian Automotive, two Electrtic Vehicle rivals, witnessed an impressive surge in stock prices on Monday after better-than-expected sales in the second quarter of 2023.&nbsp;</p>

<p>The rising share prices increased Tesla's market value by $57 billion. Tesla, the world's most-valuable carmaker, is now valued at $887 billion.&nbsp;</p>

<p>At $277, the company share prices have already doubled this year, surpassing expectations of market analysts. However, brokerages have raised concerns about Musk’s strategy, arguing that aggressive discounting could potentially add to margin pressure.&nbsp;</p>

<p>Tesla could improve its sales figure in the second quarter following Elon Musk's strategy to boost volumes by giving discounts amid the weakening economy and rising competition in the EV market.</p>

<p>Tesla delivered 466,140 vehicles in the April to June period, an increase of 10 percent from the previous quarter and a 83 percent increase compared to previous year. This suggests that Tesla's annual delivery target of 1.8 million vehicles would now be too conservative as the company has already fulfilled half of its delivery goal in the first six months of 2023.&nbsp;</p>

<p>"Tesla's price cuts are working in a big way. The average growth of deliveries over the previous seven quarters was 50%. This (quarter) marks a measurable step up in growth," Reuters quoted Gene Munster, managing partner at investment firm Deepwater Asset Management, as saying.&nbsp;</p>

<p>Meanwhile, stocks of California-based Rivian Automotive surged 17.4 percent in a holiday-shortened session, reaching its highest value in four months. &nbsp;</p>

<p>Although the company struggled in the first quarter due to supply chain shortage and stiff competition from market leader Tesla, it managed to surpass market estimates for second quarter deliveries.&nbsp;</p>

<p>The EV start-up delivered 12,640 vehicles, primarily pickup trucks, in the second quarter (April-June), beating market estimates of 11,000 vehicles.&nbsp;</p>

<p>Some analysts believe that Rivian's focus on developing its own drive unit to lower costs and reduce dependency on suppliers has helped the company stand out among other EV makers.&nbsp;</p>

<p>"All auto makers had supply chain issues in 2021 and 2022, but Rivian appears to be turning a corner and their 50k production goal for this year looks highly achievable post the Q2 number," Needham analyst Chris Pierce told Reuters.&nbsp;</p>


Tesla and Rivian Automotive, two Electrtic Vehicle rivals, witnessed an impressive surge in stock prices on Monday after better-than-expected sales in the second quarter of 2023.

Tesla and Rivian Automotive, two Electrtic Vehicle rivals, witnessed an impressive surge in stock prices on Monday after better-than-expected sales in the second quarter of 2023. The rising share prices increased Tesla's market value by $57 billion. Tesla, the world's most-valuable carmaker, is now valued at $887 billion. At $277, the company share prices have already doubled this year, surpassing expectations of market analysts. However, brokerages have raised concerns about Musk’s strategy, arguing that aggressive discounting could potentially add to margin pressure. Tesla could improve its sales figure in the second quarter following Elon Musk's strategy to boost volumes by giving discounts amid the weakening economy and rising competition in the EV market. Tesla delivered 466,140 vehicles in the April to June period, an increase of 10 percent from the previous quarter and a 83 percent increase compared to previous year. This suggests that Tesla's annual delivery target of 1.8 million vehicles would now be too conservative as the company has already fulfilled half of its delivery goal in the first six months of 2023. "Tesla's price cuts are working in a big way. The average growth of deliveries over the previous seven quarters was 50%. This (quarter) marks a measurable step up in growth," Reuters quoted Gene Munster, managing partner at investment firm Deepwater Asset Management, as saying. Meanwhile, stocks of California-based Rivian Automotive surged 17.4 percent in a holiday-shortened session, reaching its highest value in four months. Although the company struggled in the first quarter due to supply chain shortage and stiff competition from market leader Tesla, it managed to surpass market estimates for second quarter deliveries. The EV start-up delivered 12,640 vehicles, primarily pickup trucks, in the second quarter (April-June), beating market estimates of 11,000 vehicles. Some analysts believe that Rivian's focus on developing its own drive unit to lower costs and reduce dependency on suppliers has helped the company stand out among other EV makers. "All auto makers had supply chain issues in 2021 and 2022, but Rivian appears to be turning a corner and their 50k production goal for this year looks highly achievable post the Q2 number," Needham analyst Chris Pierce told Reuters.

Stocks of EV makers Tesla and Rivian surge after beating Q2 sales estimate

<p>Billionaire Elon Musk-owned Tesla Inc saw bumper sales of electric vehicles in the second quarter of 2023, a Reuters report said on Sunday.</p>

<p>EV maker said it sold 466,140 vehicles in the April to June period. This was 10 percent higher from the first quarter and a whopping 83 percent higher than last year.&nbsp;</p>

<p>Price cuts and US federal credits reportedly helped the EV maker to post better-than-anticipated sales in the second quarter.&nbsp;</p>

<p>Tesla's total sales also beat analyst estimates by a narrow margin. According to a Reuters poll of analysts, Tesla was expected to sell around 445,000 EVs in the second quarter of 2023.&nbsp;</p>

<p>Tesla, the world's most valuable automaker, produced 13,560 more electric vehicles than it delivered in the April-June quarter. Moreover, the gap between production and total sale has narrowed from 17,933 in the first quarter.</p>

<p>In what will be music to the ears of Musk, Tesla is likely to post record sales in China, its second-largest market after the United States. This is despite some tough competition from China's market leader BYD.</p>

<p>A major reason for the boost in China sales could be attributed to the price cut since last year, which was a part of Musk's plan to prioritise sales over profits.&nbsp;</p>

<p>"The price cuts was a smart poker move for Tesla and paying major dividends in the field, especially for the China market," Dan Ives, an analyst at Wedbush Securities, was quoted by Reuters as saying.&nbsp;</p>

<p>The world's most-valuable carmaker also increased discounts across all of its car models, while making all of its Model 3s eligible for full US federal credits of $7,500.&nbsp;</p>

<p>The US Department of Treasury&nbsp;had announced tax credits on electric vehicles in order to incentivise the automobile industry to develop the EV&nbsp;infrastructure in the United States.&nbsp;</p>

<p>Meanwhile, the electric vehicle pioneer is quickly making a mark in the fast-charging space. Iconic automobile companies like Ford Motor and General Motors, as well as several charger&nbsp;makers have announced that they will be adopting the carmaker's North American Charging Standard (NACS).</p>

<p>(With inputs from agencies)</p>


Billionaire Elon Musk-owned Tesla Inc saw bumper sales of electric vehicles in the second quarter of 2023, a Reuters report said on Sunday. EV maker said it sold 466,140 vehicles in the April to June period.

Billionaire Elon Musk-owned Tesla Inc saw bumper sales of electric vehicles in the second quarter of 2023, a Reuters report said on Sunday. EV maker said it sold 466,140 vehicles in the April to June period. This was 10 percent higher from the first quarter and a whopping 83 percent higher than last year. Price cuts and US federal credits reportedly helped the EV maker to post better-than-anticipated sales in the second quarter. Tesla's total sales also beat analyst estimates by a narrow margin. According to a Reuters poll of analysts, Tesla was expected to sell around 445,000 EVs in the second quarter of 2023. Tesla, the world's most valuable automaker, produced 13,560 more electric vehicles than it delivered in the April-June quarter. Moreover, the gap between production and total sale has narrowed from 17,933 in the first quarter. In what will be music to the ears of Musk, Tesla is likely to post record sales in China, its second-largest market after the United States. This is despite some tough competition from China's market leader BYD. A major reason for the boost in China sales could be attributed to the price cut since last year, which was a part of Musk's plan to prioritise sales over profits. "The price cuts was a smart poker move for Tesla and paying major dividends in the field, especially for the China market," Dan Ives, an analyst at Wedbush Securities, was quoted by Reuters as saying. The world's most-valuable carmaker also increased discounts across all of its car models, while making all of its Model 3s eligible for full US federal credits of $7,500. The US Department of Treasury had announced tax credits on electric vehicles in order to incentivise the automobile industry to develop the EV infrastructure in the United States. Meanwhile, the electric vehicle pioneer is quickly making a mark in the fast-charging space. Iconic automobile companies like Ford Motor and General Motors, as well as several charger makers have announced that they will be adopting the carmaker's North American Charging Standard (NACS). (With inputs from agencies)

EV maker Tesla beats second-quarter delivery estimates as price cuts pay off

EV maker Tesla's ambition to make its charging technology a standard across the US. Has hit a roadblock in the US State of Texas. A report accessed by Reuters shows several EV charger makers opposed to Texas' plan seeking them to include tesla's charging technology as well as the combined charging standard (CCS) technology to electrify highways in the US State. These EV charging companies have called the plan "premature".

EV charger firms oppose Texas plan for Tesla chargers

Tesla announced their record-breaking vehicle delivery for the second quarter the electric car manufacturer led by billionaire Elon Musk managed to exceed the market estimates thanks to price cuts and U.S federal credits that meet their electric vehicles more affordable in the period from April to June Tesla delivered more than four 66 000 Vehicles which is a 10 percent increase from the previous quarter and an impressive 83 surge as compared to the same period last year. Watch the video to know more.

Tesla speeds ahead: Record deliveries in Quarter 2 |

Tesla's charging technology is rapidly propelling towards becoming the North American standard, signaling a major boost for the automaker's plan to expand access to its once-exclusive chargers. With Volvo car joining the likes of General Motors, Ford, and Rivian in embracing Tesla's charging design, earlier efforts by the Biden administration to establish the Combined Charging System (CCS), as the dominant standard have been sidestepped.

Tesla paving the way for universal charging access

<p>Tesla's electric-vehicle charging technology is rapidly gaining momentum, positioning itself to become the North American standard. The automaker's move to expand access to its once-exclusive chargers has garnered support from prominent industry players, including Volvo Car, General Motors, Ford, and Rivian, Reuters reported. By embracing Tesla's charging design, these companies have diverted from earlier efforts by the Biden administration to establish the Combined Charging System (CCS) as the dominant charging standard in the United States.</p>

<p>SAE International, the esteemed standards organisation, spearheads the standardisation process and aims to develop an industry-approved configuration of Tesla's charging connector within six months or less. Collaborative discussions are already underway, as per Reuters, between SAE International, Tesla, Ford, GM, other automakers, and the federal government, demonstrating a shared sense of urgency and purpose to establish a universal plug standard that all stakeholders can adopt.</p>

<p>The potential standard, tentatively named the North American Charging Standard (NACS) by Tesla, has yet to be officially approved by SAE International. However, if successful, it could revolutionize the electric-vehicle charging landscape and streamline the charging experience for consumers across the continent.</p>

<p><strong>Electrifying America: 1 million at a time</strong></p>

<p>The United States, determined to support the growing electric vehicle market, is set to install an extensive network of electric-vehicle public chargers. According to a study conducted by the National Renewable Energy Laboratory cited by Reuters, the goal is to have 1.2 million chargers in place by 2030, including 1 million Level 2 chargers. These ambitious figures surpass the Biden administration's target of deploying 500,000 public chargers by the same year.</p>

<p>However, the widespread establishment of this public charging network requires substantial investment, estimated to be between $33 billion and $55 billion in cumulative public and private capital. Recognising the importance of interoperability and accessibility, the White House has shown support for both CCS and NACS connectors. Electric-vehicle charging stations that utilize Tesla-standard plugs while incorporating the U.S. charging standard connection, CCS, would be eligible for significant federal subsidies.</p>

<p>The positive reception of NACS has already made an impact at the state level. Texas and Washington have announced their intentions to mandate using NACS alongside CCS as part of the federal program. Whether the federal government will follow suit remains to be seen.</p>

<p>The potential adoption of NACS as the North American standard holds promising implications for Tesla and the electric vehicle industry as a whole. It would establish a consistent and widely accepted charging infrastructure, fueling the growth and accessibility of electric vehicles throughout the continent. As Tesla's charging technology gains support from industry leaders and policymakers, the future of electric vehicle charging is set to undergo a remarkable transformation.</p>

<p>(With Inputs from Reuters)</p>


Tesla's electric-vehicle charging technology is rapidly gaining momentum, positioning itself to become the North American standard. The automaker's move to expand access to its once-exclusive chargers has garnered support from prominent industry players, including Volvo Car, General Motors, Ford, and Rivian, Reuters reported.

Tesla's electric-vehicle charging technology is rapidly gaining momentum, positioning itself to become the North American standard. The automaker's move to expand access to its once-exclusive chargers has garnered support from prominent industry players, including Volvo Car, General Motors, Ford, and Rivian, Reuters reported. By embracing Tesla's charging design, these companies have diverted from earlier efforts by the Biden administration to establish the Combined Charging System (CCS) as the dominant charging standard in the United States. SAE International, the esteemed standards organisation, spearheads the standardisation process and aims to develop an industry-approved configuration of Tesla's charging connector within six months or less. Collaborative discussions are already underway, as per Reuters, between SAE International, Tesla, Ford, GM, other automakers, and the federal government, demonstrating a shared sense of urgency and purpose to establish a universal plug standard that all stakeholders can adopt. The potential standard, tentatively named the North American Charging Standard (NACS) by Tesla, has yet to be officially approved by SAE International. However, if successful, it could revolutionize the electric-vehicle charging landscape and streamline the charging experience for consumers across the continent. Electrifying America: 1 million at a time The United States, determined to support the growing electric vehicle market, is set to install an extensive network of electric-vehicle public chargers. According to a study conducted by the National Renewable Energy Laboratory cited by Reuters, the goal is to have 1.2 million chargers in place by 2030, including 1 million Level 2 chargers. These ambitious figures surpass the Biden administration's target of deploying 500,000 public chargers by the same year. However, the widespread establishment of this public charging network requires substantial investment, estimated to be between $33 billion and $55 billion in cumulative public and private capital. Recognising the importance of interoperability and accessibility, the White House has shown support for both CCS and NACS connectors. Electric-vehicle charging stations that utilize Tesla-standard plugs while incorporating the U.S. charging standard connection, CCS, would be eligible for significant federal subsidies. The positive reception of NACS has already made an impact at the state level. Texas and Washington have announced their intentions to mandate using NACS alongside CCS as part of the federal program. Whether the federal government will follow suit remains to be seen. The potential adoption of NACS as the North American standard holds promising implications for Tesla and the electric vehicle industry as a whole. It would establish a consistent and widely accepted charging infrastructure, fueling the growth and accessibility of electric vehicles throughout the continent. As Tesla's charging technology gains support from industry leaders and policymakers, the future of electric vehicle charging is set to undergo a remarkable transformation. (With Inputs from Reuters)

Tesla plugs in for total charging domination, emerges as the electrifying standard

<p>In a recent interview, on Twitter Spaces, Tesla CEO Elon Musk’s biographer, Walter Isaacson spoke about how the billionaire sometimes goes into “demon mode” which makes him highly productive and a tough leader but also “dark”. This comes as the biographer spoke about Musk’s complex life and the upcoming biography about the billionaire on Thursday.</p>

<h2><strong>Musk’s ‘demon mode’</strong></h2>

<p>During the interview, Isaacson said that one of the difficulties while dealing with smart and innovative people is that they have quite a “dark streak”. Notably, he has previously written biographies on several innovators, like Steve Jobs, Albert Einstein and Leonardo da Vinci.</p>

<p>Similarly, in Musk’s case, the biographer said that his so-called dark streak comes from a very brutal, violent childhood. “A childhood in which he had very strong psychological difficulties with his father,” said Isaacson.&nbsp;</p>

<p>Notably, the term “demon mode” is said to have been coined by Grimes, Musk’s former girlfriend, who told the biographer how it could be “unpleasant” being around the Twitter CEO when he is in that mode but “gets shit done.”&nbsp;</p>

<p>Speaking broadly about the dark streak, the biographer said that many brilliant and successful people, including Musk and Jobs, are not burdened by empathy which allows them to accomplish a larger mission and can make them much tougher leaders.&nbsp;</p>

<p>In the Tesla CEO&nbsp;case, Isaacson said that he has a “maniacal sense of urgency” which would often scare some of his workers. “He’d go dark and I’d know that he was just going to rip that person apart,” said Isaacson about Musk, when someone would not match his sense of urgency. This became common when Musk had just taken over Twitter, said the biographer.&nbsp;</p>

<p>Isaacson, who followed Musk’s day-to-day life for nearly two years, said that these moments of rage would make him “uncomfortable” and it was hard to watch. “He is just brutal,” said the biographer, as per Insider.&nbsp;</p>

<p>He added, “The thing that I noticed is that once he finishes doing it – and it was never physical and it was almost done in a flat monotone – but he would just really attack people and then a few days later if they absorbed the lesson, he’d forget about it.”&nbsp;</p>

<h2><strong>Tesla CEO’s addiction to risk</strong></h2>

<p>One of the things that surprised Isaacson, he said, was Musk’s childhood and his relationship with his father Errol Musk. According to the biographer, the Tesla CEO’s father shaped his personality and affected his understanding of risk.</p>

<p>Additionally, the biographer has also attributed Musk’s risk-taking behaviour and “dark streak” to his relationship with his father as well as the bullying he endured in his youth.&nbsp;</p>

<p>Musk is almost addicted to risk, said Isaacson. He added, “It’s an important thing because America has lost the ability to take risks and do great manufacturing, and there’s a dark quality to his desire to take risks”.&nbsp;</p>

<h2><strong>The upcoming book</strong></h2>

<p>Isaacson said that his book, which is due to release in September, is aimed to show the complexity of Musk and the balance between his “dark streak” and his groundbreaking work with Tesla and SpaceX.&nbsp;</p>

<p>During the interview, the biographer also said that Musk is like someone who doesn’t care about anything aside from getting something done, adding that “there are light strands and brilliant strands with Musk, but also dark strands.”&nbsp;</p>

<p>“If you pluck out that strand, you lose the whole claw and that’s what this biography is about,” said Isaacson, as per media reports.&nbsp;<br />
<br />
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In a recent interview, on Twitter Spaces, Tesla CEO Elon Musk’s biographer, Walter Isaacson spoke about how the billionaire sometimes goes into “demon mode” which makes him highly productive and a tough leader but also “dark”.

In a recent interview, on Twitter Spaces, Tesla CEO Elon Musk’s biographer, Walter Isaacson spoke about how the billionaire sometimes goes into “demon mode” which makes him highly productive and a tough leader but also “dark”. This comes as the biographer spoke about Musk’s complex life and the upcoming biography about the billionaire on Thursday. Musk’s ‘demon mode’ During the interview, Isaacson said that one of the difficulties while dealing with smart and innovative people is that they have quite a “dark streak”. Notably, he has previously written biographies on several innovators, like Steve Jobs, Albert Einstein and Leonardo da Vinci. Similarly, in Musk’s case, the biographer said that his so-called dark streak comes from a very brutal, violent childhood. “A childhood in which he had very strong psychological difficulties with his father,” said Isaacson. Notably, the term “demon mode” is said to have been coined by Grimes, Musk’s former girlfriend, who told the biographer how it could be “unpleasant” being around the Twitter CEO when he is in that mode but “gets shit done.” Speaking broadly about the dark streak, the biographer said that many brilliant and successful people, including Musk and Jobs, are not burdened by empathy which allows them to accomplish a larger mission and can make them much tougher leaders. In the Tesla CEO case, Isaacson said that he has a “maniacal sense of urgency” which would often scare some of his workers. “He’d go dark and I’d know that he was just going to rip that person apart,” said Isaacson about Musk, when someone would not match his sense of urgency. This became common when Musk had just taken over Twitter, said the biographer. Isaacson, who followed Musk’s day-to-day life for nearly two years, said that these moments of rage would make him “uncomfortable” and it was hard to watch. “He is just brutal,” said the biographer, as per Insider. He added, “The thing that I noticed is that once he finishes doing it – and it was never physical and it was almost done in a flat monotone – but he would just really attack people and then a few days later if they absorbed the lesson, he’d forget about it.” Tesla CEO’s addiction to risk One of the things that surprised Isaacson, he said, was Musk’s childhood and his relationship with his father Errol Musk. According to the biographer, the Tesla CEO’s father shaped his personality and affected his understanding of risk. Additionally, the biographer has also attributed Musk’s risk-taking behaviour and “dark streak” to his relationship with his father as well as the bullying he endured in his youth. Musk is almost addicted to risk, said Isaacson. He added, “It’s an important thing because America has lost the ability to take risks and do great manufacturing, and there’s a dark quality to his desire to take risks”. The upcoming book Isaacson said that his book, which is due to release in September, is aimed to show the complexity of Musk and the balance between his “dark streak” and his groundbreaking work with Tesla and SpaceX. During the interview, the biographer also said that Musk is like someone who doesn’t care about anything aside from getting something done, adding that “there are light strands and brilliant strands with Musk, but also dark strands.” “If you pluck out that strand, you lose the whole claw and that’s what this biography is about,” said Isaacson, as per media reports. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk's biographer talks about billionaire's 'demon mode,' 'dark streak' in upcoming book

Twitter CEO Elon Musk, after his meeting with PM Narendra Modi at the New York Palace Hotel in New York City on Tuesday (local time), commented on Twiiter co-founder and former CEO Jack Dorsey's recent comments against the conduct of India's government in regard to the social media platform's policies.

Elon Musk reacts to former Twitter CEO Jack Dorsey's claims against Indian govt

Indian Prime Minister Narendra Modi is expected to meet Tesla CEO Elon Musk. The meeting is scheduled to take place in New York on Tuesday. The Indian PM is also scheduled to meet various other US business & community leaders during his 3-day state trip. As per sources, Modi's talks with Musk will focus on Tesla's foray into the Indian market and Musk says that he is serious about Tesla's plans to establish a manufacturing base in India.

PM Modi's US Visit: PM Modi to meet Musk in US amid talks of Tesla factory in India

Indian PM Modi to meet Tesla CEO Elon Musk in New York

Elon Musk is sounding the alarm again about the dangers posed to humanity by AI, warning that more has to be done to limit its development or risk sleepwalking into a disaster.

Elon Musk Predicts 'Catastrophic Outcome' Without AI Regulation

<p>France is leaving no stone unturned to convince US billionaire Elon Musk to set up Tesla’s next Gigafactory in the country, Digital Minister Jean-Noel Barrot said Wednesday. Barrot’s statement comes just weeks after he threatened Musk-owned Twitter with a ban over the European Union’s new tech regulations.<br />
<br />
France is organising its flagship technology conference Viva Tech Summit this Friday, and top government officials from Paris as well as Elon Musk are likely to be present&nbsp;at the event.</p>

<p>France, over the past few years, has pitched itself as the best destination to produce electric cars, with the country recently opening its first battery manufacturing facility. Paris wants to realise its ambitions of reindustrialising the country and catching up with Chinese manufacturers in the booming sector.</p>

<p>A meeting between Musk and French President Emmanuel Macron is also on the cards.&nbsp;"We're going to talk about artificial intelligence, in which he is involved, social media, regulation framework... And then I'll also talk to him about cars, batteries, to promote French and European attractiveness," Macron told the media on Wednesday.</p>

<h2><strong>Musk actively looking for Gigafactory location in Europe</strong></h2>

<p>Musk is actively hunting for an apt location in Europe to set up Tesla’s next Gigafactory, with manufacturing facilities already present in US, Germany and China.</p>

<p>“It will be great to have a Tesla factory in France, there has been a lot of effort and energy to make sure this is possible and this can happen,” Jean-Noel Barrot was quoted as saying by CNBC.<br />
<br />
“We have also invested in an...entire sector of electric batteries so we will try to convince him that France is the best possible place in Europe to establish the next Tesla factory,” Barrot added.</p>

<p><strong>Watch:&nbsp;Elon Musk launches new AI start up</strong></p>

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<p>While showering praises on Musk, France’s digital minister described him as a “great inventor, probably one of the greatest of the beginning of this century.”</p>

<h2><strong>Ongoing tussle between Twitter and Paris</strong></h2>

<p>While Jean-Noel Barrot attempted to cajole Musk into pouring in massive investments in France, his message to the US tycoon in relation to Twitter was strikingly opposite. The minister recently stated that if Twitter fails to adhere to the upcoming Digital Services Act of the European Union (EU), the social media app could be banned in the EU.&nbsp;</p>

<p><a href="https://www.wionews.com/business-economy/elon-musks-tesla-adds-hundreds-of-billions-in-valuation-amid-ai-race-603083"><strong>Also read:&nbsp;Elon Musk's Tesla adds hundreds of billions in valuation amid AI race</strong></a></p>

<p>The Digital Services Act, which comes into effect in August, will require major tech companies, including Twitter, to take more proactive measures in combating illegal content and disinformation on their platforms. Failure to do so could result in significant fines amounting to billions of dollars. Should Twitter fail to comply, it could face sanctions of up to 6% of its global sales. If the company's non-compliance persists, it may be compelled to leave the EU entirely.</p>

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France is leaving no stone unturned to convince US billionaire Elon Musk to set up Tesla’s next Gigafactory in the country, Digital Minister Jean-Noel Barrot said Wednesday.

France is leaving no stone unturned to convince US billionaire Elon Musk to set up Tesla’s next Gigafactory in the country, Digital Minister Jean-Noel Barrot said Wednesday. Barrot’s statement comes just weeks after he threatened Musk-owned Twitter with a ban over the European Union’s new tech regulations. France is organising its flagship technology conference Viva Tech Summit this Friday, and top government officials from Paris as well as Elon Musk are likely to be present at the event. France, over the past few years, has pitched itself as the best destination to produce electric cars, with the country recently opening its first battery manufacturing facility. Paris wants to realise its ambitions of reindustrialising the country and catching up with Chinese manufacturers in the booming sector. A meeting between Musk and French President Emmanuel Macron is also on the cards. "We're going to talk about artificial intelligence, in which he is involved, social media, regulation framework... And then I'll also talk to him about cars, batteries, to promote French and European attractiveness," Macron told the media on Wednesday. Musk actively looking for Gigafactory location in Europe Musk is actively hunting for an apt location in Europe to set up Tesla’s next Gigafactory, with manufacturing facilities already present in US, Germany and China. “It will be great to have a Tesla factory in France, there has been a lot of effort and energy to make sure this is possible and this can happen,” Jean-Noel Barrot was quoted as saying by CNBC. “We have also invested in an...entire sector of electric batteries so we will try to convince him that France is the best possible place in Europe to establish the next Tesla factory,” Barrot added. Watch: Elon Musk launches new AI start up × While showering praises on Musk, France’s digital minister described him as a “great inventor, probably one of the greatest of the beginning of this century.” Ongoing tussle between Twitter and Paris While Jean-Noel Barrot attempted to cajole Musk into pouring in massive investments in France, his message to the US tycoon in relation to Twitter was strikingly opposite. The minister recently stated that if Twitter fails to adhere to the upcoming Digital Services Act of the European Union (EU), the social media app could be banned in the EU. Also read: Elon Musk's Tesla adds hundreds of billions in valuation amid AI race The Digital Services Act, which comes into effect in August, will require major tech companies, including Twitter, to take more proactive measures in combating illegal content and disinformation on their platforms. Failure to do so could result in significant fines amounting to billions of dollars. Should Twitter fail to comply, it could face sanctions of up to 6% of its global sales. If the company's non-compliance persists, it may be compelled to leave the EU entirely. WATCH WION LIVE HERE ×

France requests Musk to set up Tesla factory in country, weeks after threatening to ban Twitter

Tesla's stock market journey has captured the attention of investors and analysts alike. after an awe-inspiring 13-day winning streak, Tesla's remarkable rally finally met its match, ending on Wednesday. During this unprecedented run, tesla's stock skyrocketed, adding over $200 billion to its market value, a feat that few could have predicted.

Tesla’s impressive 13-day run comes to a halt

<p dir="ltr">Tesla's stock market rally, which lasted an impressive 13 days, finally came to a halt on Wednesday, a Reuters report said.</p>

<p dir="ltr">During this historic winning streak, the US automaker's shares soared to new heights and added&nbsp;over $200 billion. While the rally significantly boosted the company's worth, it also ignited discussions about its stratospheric valuation and comparisons to other automakers.&nbsp;</p>

<p>Tesla's electrifying rally captivated investors and analysts alike as the company's shares experienced an extraordinary surge, skyrocketing by more than 40 percent. This surge resulted in a staggering $240 billion increase in its market capitalization, surpassing the entire value of Toyota, the second-most valuable automaker globally. With a market value of approximately $814 billion, Tesla's stock price far exceeded the predictions of Wall Street analysts, who had projected a median target of $200, as per Refinitiv data cited by Reuters.</p>

<p>One key catalyst behind Tesla's unprecedented rally was the announcement of legacy U.S. automakers, Ford and General Motors, adopting Tesla's charging system, the North America Charging Standard (NACS). This strategic move effectively established the NACS as the dominant charging infrastructure for 60 percent of the U.S. electric vehicle market, giving Tesla a significant edge over its competitors. While alternative charging systems exist globally, the partnership with Ford and GM solidified Tesla's dominance in the American market.</p>

<p><strong>Valuation and Comparisons</strong></p>

<p>Tesla's stratospheric price-to-earnings (P/E) ratio has raised eyebrows, as it far surpasses that of other automakers. For the&nbsp;uninitiated,&nbsp;the ratio is used for valuing a company. The ratio measures its current share price to its earnings per share (EPS).&nbsp;</p>

<p>With a forward P/E ratio of approximately 62, Tesla finds itself just below Amazon's ratio of 63.7. In contrast, traditional automakers Ford and GM boast significantly lower P/E ratios of 8.2 and 5.6, respectively, as reported by&nbsp;Reuters. Analysts have drawn parallels between Tesla's recent surge and the remarkable trajectory of Amazon, a company that defied investor expectations for years.</p>

<p>Tesla's impressive rally carried consequences for short sellers, who suffered mark-to-market losses of over $7 billion during the 13-day period. This added to their year-to-date losses, which reached nearly $12.7 billion, according to S3 Partners, cited by Reuters. The rollercoaster ride experienced by Tesla's stock price serves as a reminder of the inherent volatility in the market and the potential risks involved in betting against the company.</p>

<p><em>(With inputs from Reuters)&nbsp;</em></p>


Tesla's stock market rally, which lasted an impressive 13 days, finally came to a halt on Wednesday, a Reuters report said. During this historic winning streak, the US automaker's shares soared to new heights and added over $200 billion.

Tesla's stock market rally, which lasted an impressive 13 days, finally came to a halt on Wednesday, a Reuters report said. During this historic winning streak, the US automaker's shares soared to new heights and added over $200 billion. While the rally significantly boosted the company's worth, it also ignited discussions about its stratospheric valuation and comparisons to other automakers. Tesla's electrifying rally captivated investors and analysts alike as the company's shares experienced an extraordinary surge, skyrocketing by more than 40 percent. This surge resulted in a staggering $240 billion increase in its market capitalization, surpassing the entire value of Toyota, the second-most valuable automaker globally. With a market value of approximately $814 billion, Tesla's stock price far exceeded the predictions of Wall Street analysts, who had projected a median target of $200, as per Refinitiv data cited by Reuters. One key catalyst behind Tesla's unprecedented rally was the announcement of legacy U.S. automakers, Ford and General Motors, adopting Tesla's charging system, the North America Charging Standard (NACS). This strategic move effectively established the NACS as the dominant charging infrastructure for 60 percent of the U.S. electric vehicle market, giving Tesla a significant edge over its competitors. While alternative charging systems exist globally, the partnership with Ford and GM solidified Tesla's dominance in the American market. Valuation and Comparisons Tesla's stratospheric price-to-earnings (P/E) ratio has raised eyebrows, as it far surpasses that of other automakers. For the uninitiated, the ratio is used for valuing a company. The ratio measures its current share price to its earnings per share (EPS). With a forward P/E ratio of approximately 62, Tesla finds itself just below Amazon's ratio of 63.7. In contrast, traditional automakers Ford and GM boast significantly lower P/E ratios of 8.2 and 5.6, respectively, as reported by Reuters. Analysts have drawn parallels between Tesla's recent surge and the remarkable trajectory of Amazon, a company that defied investor expectations for years. Tesla's impressive rally carried consequences for short sellers, who suffered mark-to-market losses of over $7 billion during the 13-day period. This added to their year-to-date losses, which reached nearly $12.7 billion, according to S3 Partners, cited by Reuters. The rollercoaster ride experienced by Tesla's stock price serves as a reminder of the inherent volatility in the market and the potential risks involved in betting against the company. (With inputs from Reuters)

From supercharged to neutral: Tesla’s winning streak shifts gears

<p>Elon Musk-led Tesla has added more than $200 billion to its market valuation in an 11-day run. Tesla this week has had some of its longest-ever winning streak on the Wall Street.</p>

<h2><strong>Elon Musk's Tesla's valuation boom: The factors at play</strong></h2>

<p>According to Bespoke Investment Group cited by Bloomberg, Tesla has been a "wild stock" over the years.&nbsp;</p>

<p>Tesla shares jumped as much as 7.5 per cent to $252.42 Friday, bringing this year’s surge to 103 per cent. This week’s 17 per cent advance so far is set to be the best since January.&nbsp;</p>

<p><strong>Also read |&nbsp;<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">Elon Musk choosing India over China? Big meet to decide Tesla's road to New Delhi</a></strong></p>

<p>The valuation boom comes after General Motors announced that it will adapt its EVs to Tesla's Superchargers. The development followed a similar move from the Ford Motors, making it sort of an industry standard in the United States.</p>

<p><strong>Also watch |&nbsp;Elon Musk launches new AI startup to compete with OpenAI</strong></p>

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<p>"More people buying EVs (whether they be GM or Ford for that matter) increases the likelihood that they buy Teslas," RBC Capital Markets analyst Tom Narayan wrote in a note on Thursday, Bloomberg reported.&nbsp;</p>

<p>"A rising tide lifts all boats and if consumers see their neighbour having an EV, they are more likely to buy one themselves - and this increases the chances they buy a Tesla."</p>

<h2><strong>Tesla's rich valuation: AI boom or self-driving technology?</strong></h2>

<p>According to Cathie Wood, Chief Executive Officer of ARK Investment Management, the Artificial Intelligence could play most important role in Tesla's future stock boom. It could reportedly help its stock price to about $2,000 in 2027. Without that, Wood expects the stock to be worth only about $400.&nbsp;</p>

<p>About self-driving technology, Tesla CEO Elon Musk himself suggested last year that the company’s value was almost fully dependent on cracking the code for self-driving. "That really is the difference between Tesla being worth a lot of money and being worth basically zero," Musk said in an interview in June 2022.<br />
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Elon Musk-led Tesla has added more than $200 billion to its market valuation in an 11-day run. Tesla this week has had some of its longest-ever winning streak on the Wall Street.

Elon Musk-led Tesla has added more than $200 billion to its market valuation in an 11-day run. Tesla this week has had some of its longest-ever winning streak on the Wall Street. Elon Musk's Tesla's valuation boom: The factors at play According to Bespoke Investment Group cited by Bloomberg, Tesla has been a "wild stock" over the years. Tesla shares jumped as much as 7.5 per cent to $252.42 Friday, bringing this year’s surge to 103 per cent. This week’s 17 per cent advance so far is set to be the best since January. Also read | Elon Musk choosing India over China? Big meet to decide Tesla's road to New Delhi The valuation boom comes after General Motors announced that it will adapt its EVs to Tesla's Superchargers. The development followed a similar move from the Ford Motors, making it sort of an industry standard in the United States. Also watch | Elon Musk launches new AI startup to compete with OpenAI × "More people buying EVs (whether they be GM or Ford for that matter) increases the likelihood that they buy Teslas," RBC Capital Markets analyst Tom Narayan wrote in a note on Thursday, Bloomberg reported. "A rising tide lifts all boats and if consumers see their neighbour having an EV, they are more likely to buy one themselves - and this increases the chances they buy a Tesla." Tesla's rich valuation: AI boom or self-driving technology? According to Cathie Wood, Chief Executive Officer of ARK Investment Management, the Artificial Intelligence could play most important role in Tesla's future stock boom. It could reportedly help its stock price to about $2,000 in 2027. Without that, Wood expects the stock to be worth only about $400. About self-driving technology, Tesla CEO Elon Musk himself suggested last year that the company’s value was almost fully dependent on cracking the code for self-driving. "That really is the difference between Tesla being worth a lot of money and being worth basically zero," Musk said in an interview in June 2022. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk's Tesla adds hundreds of billions in valuation amid AI race

Electric car-maker Tesla has reached a seven-month high in its stock price fueled by insatiable investor appetite for Mega cap. Watch the video to know more.

Tesla's stock hits turbo mode, Neuralink's valuation soars | World DNA

<p dir="ltr">Fueled by the insatiable investor appetite for mega-cap tech stocks and a string of positive news, Tesla Inc. witnessed a remarkable surge in its stock price on Wednesday, reaching a seven-month high. This stunning turnaround comes after a significant plunge in Tesla's stocks last year. Furthermore, Elon Musk's brain implant startup, Neuralink, has been experiencing a meteoric rise in valuation, which highlights the growing investor confidence in future tech-based companies.</p>

<p>Despite recent challenges, Bloomberg reported an impressive surge of 87 percent in Tesla's shares this year, defying expectations and underlining the market's renewed faith in the company's growth potential. The company's stock rally can be attributed to a multitude of factors, including the rush for technology and growth stocks amid waning fears of a recession. Tesla's rebound from last year's significant decline has instilled confidence in investors, with the stock demonstrating remarkable resilience and capturing the attention of market enthusiasts.</p>

<p>Tesla's recent success can be partially attributed to the eligibility of all Model 3 sedans for the full US tax credit, Bloomberg reported. The US Treasury Department's new criteria for the tax credit has allayed concerns surrounding slowing demand for Tesla's vehicles and electric cars in general. Moreover, investor sentiment has been bolstered by the appointment of a new CEO for social media platform Twitter, alleviating concerns about Elon Musk's involvement in multiple ventures. This strategic move has shifted the focus back to Tesla's core operations and provided investors with the reassurance needed to further fuel the stock's rally.</p>

<p>While Tesla's ascent continues, some market observers cited by Bloomberg express caution regarding the perception of Tesla as an artificial intelligence (AI) player. They stress that the company's trajectory will be predominantly influenced by electric cars' supply and demand dynamics in the coming year. Despite Tesla's impressive strides in AI, the jury is still out on whether the company has successfully positioned itself to capitalize on the disruptive potential of generative AI in autonomous driving.&nbsp;</p>

<p><strong>Neuralink's Astonishing Valuation</strong></p>

<p>In parallel to Tesla's remarkable stock surge, Elon Musk's Neuralink has recorded an extraordinary increase in valuation. Reuters reported that the brain implant startup, valued at close to $2 billion in a private fundraising round two years ago, is now worth around $5 billion based on privately executed stock trades. Neuralink's valuation surge comes on the heels of the company receiving approval for a human trial on its groundbreaking brain chip, marking a significant milestone in the company's journey. With grand ambitions ranging from treating obesity, autism, depression, and schizophrenia to enabling web surfing and telepathy, Neuralink represents a paradigm shift in the realm of brain implants.</p>

<p><i>(With agency inputs)&nbsp;</i></p>


Fueled by the insatiable investor appetite for mega-cap tech stocks and a string of positive news, Tesla Inc. witnessed a remarkable surge in its stock price on Wednesday, reaching a seven-month high.

Fueled by the insatiable investor appetite for mega-cap tech stocks and a string of positive news, Tesla Inc. witnessed a remarkable surge in its stock price on Wednesday, reaching a seven-month high. This stunning turnaround comes after a significant plunge in Tesla's stocks last year. Furthermore, Elon Musk's brain implant startup, Neuralink, has been experiencing a meteoric rise in valuation, which highlights the growing investor confidence in future tech-based companies. Despite recent challenges, Bloomberg reported an impressive surge of 87 percent in Tesla's shares this year, defying expectations and underlining the market's renewed faith in the company's growth potential. The company's stock rally can be attributed to a multitude of factors, including the rush for technology and growth stocks amid waning fears of a recession. Tesla's rebound from last year's significant decline has instilled confidence in investors, with the stock demonstrating remarkable resilience and capturing the attention of market enthusiasts. Tesla's recent success can be partially attributed to the eligibility of all Model 3 sedans for the full US tax credit, Bloomberg reported. The US Treasury Department's new criteria for the tax credit has allayed concerns surrounding slowing demand for Tesla's vehicles and electric cars in general. Moreover, investor sentiment has been bolstered by the appointment of a new CEO for social media platform Twitter, alleviating concerns about Elon Musk's involvement in multiple ventures. This strategic move has shifted the focus back to Tesla's core operations and provided investors with the reassurance needed to further fuel the stock's rally. While Tesla's ascent continues, some market observers cited by Bloomberg express caution regarding the perception of Tesla as an artificial intelligence (AI) player. They stress that the company's trajectory will be predominantly influenced by electric cars' supply and demand dynamics in the coming year. Despite Tesla's impressive strides in AI, the jury is still out on whether the company has successfully positioned itself to capitalize on the disruptive potential of generative AI in autonomous driving. Neuralink's Astonishing Valuation In parallel to Tesla's remarkable stock surge, Elon Musk's Neuralink has recorded an extraordinary increase in valuation. Reuters reported that the brain implant startup, valued at close to $2 billion in a private fundraising round two years ago, is now worth around $5 billion based on privately executed stock trades. Neuralink's valuation surge comes on the heels of the company receiving approval for a human trial on its groundbreaking brain chip, marking a significant milestone in the company's journey. With grand ambitions ranging from treating obesity, autism, depression, and schizophrenia to enabling web surfing and telepathy, Neuralink represents a paradigm shift in the realm of brain implants. (With agency inputs)

Tesla shares surge amidst tech stock frenzy, Neuralink's worth $5 billion now

<p>Three brand-new Tesla cars that were abandoned and have been kept in shipping containers on a Chinese dock since 2010 will be sold for a record price. Reports suggest that the 2010 Tesla Roadsters were discovered recently in shipping containers at a port in Qingdao, China. Tesla's initial model, the Roadster, was produced between 2008 and 2012.</p>

<p>The cars were ordered 13 years ago by a buyer in China who never picked them up. Since then, they have been sitting in storage on the dock. There are two red and orange Sports variants, as well as an orange base model. Despite the fact that their batteries have failed due to inactivity, the cars are otherwise in factory condition.</p>

<p>Gruber Motor Company - a Tesla expert based in Phoenix - is now overseeing the auction and accepting bids. The cars are in their original factory condition, with some of their protective covering still on them, with the exception that their batteries no longer work owing to the extended period of not being used or recharged. Each Roadster has unsealed boxes in the trunk as well as a large bundle outside the vehicle.</p>

<p>The Gruber Motor Company, which has made a $2 million proposal for all three vehicles, has extended the deadline for greater offers. If the deal went through, each car would be worth $666,666.</p>

<p>''The Roadsters are being relocated into new sea containers over the next few days, in preparation for shipping either direct to the successful bidder, or to Dubai, which is a free zone, without the constraints for viewing permits required for prospective buyers wishing to examine the Roadsters,'' the company mentioned on its <a href="https://grubermotors.com/product/tesla-sport-roadster-china-3">website</a>.</p>

<p>Unless a sale occurs before then, the automobiles will be returned to the United States by mid-May. The vendor is willing to travel to China to meet with any potential buyers. In case a sale does not happen in China, the cars will be shipped to the company for further examination until an acceptable offer is made.</p>


Three brand-new Tesla cars that were abandoned and have been kept in shipping containers on a Chinese dock since 2010 will be sold for a record price. Reports suggest that the 2010 Tesla Roadsters were discovered recently in shipping containers at a port in Qingdao, China.

Three brand-new Tesla cars that were abandoned and have been kept in shipping containers on a Chinese dock since 2010 will be sold for a record price. Reports suggest that the 2010 Tesla Roadsters were discovered recently in shipping containers at a port in Qingdao, China. Tesla's initial model, the Roadster, was produced between 2008 and 2012. The cars were ordered 13 years ago by a buyer in China who never picked them up. Since then, they have been sitting in storage on the dock. There are two red and orange Sports variants, as well as an orange base model. Despite the fact that their batteries have failed due to inactivity, the cars are otherwise in factory condition. Gruber Motor Company - a Tesla expert based in Phoenix - is now overseeing the auction and accepting bids. The cars are in their original factory condition, with some of their protective covering still on them, with the exception that their batteries no longer work owing to the extended period of not being used or recharged. Each Roadster has unsealed boxes in the trunk as well as a large bundle outside the vehicle. The Gruber Motor Company, which has made a $2 million proposal for all three vehicles, has extended the deadline for greater offers. If the deal went through, each car would be worth $666,666. ''The Roadsters are being relocated into new sea containers over the next few days, in preparation for shipping either direct to the successful bidder, or to Dubai, which is a free zone, without the constraints for viewing permits required for prospective buyers wishing to examine the Roadsters,'' the company mentioned on its website. Unless a sale occurs before then, the automobiles will be returned to the United States by mid-May. The vendor is willing to travel to China to meet with any potential buyers. In case a sale does not happen in China, the cars will be shipped to the company for further examination until an acceptable offer is made.

These Tesla cars found in China after 13 years are worth $2 million

<p>The official Twitter handle of Delhi Police often remains in news because of frequent witty posts and interactions. Delhi Police uses the social media platform in a clever way to spread messages on public safety, traffic rules and other issues. The police department has once again caught the imagination of Twitter users with their “purrfect” response to a tweet from billionaire Elon Musk.</p>

<p>It all started when the Tesla chief executive shared an adorable exchange that he had with his three-year-old son, X AE A-XII. Musk tweeted that his son had asked him, “If there are police cats, since there are police dogs.”</p>

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<p dir="ltr" lang="en">Lil X just asked if there are police cats, since there are police dogs 😂</p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1664330279257767936?ref_src=twsrc%5Etfw">June 1, 2023</a></blockquote>
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<p>&nbsp;</p>

<p>The Delhi Police were quick to notice Musk’s tweet and had an amusing reply ready. They wrote, "Hi @elonmusk, please tell Lil X that there are no police cats because they might get booked for feline-y and 'purr'petration."</p>

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<p dir="ltr" lang="en">Hi <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>, please tell Lil X that there are no police cats because they might get booked for feline-y and 'purr'petration. <a href="https://t.co/W8CMMvYi9I">https://t.co/W8CMMvYi9I</a></p>
— Delhi Police (@DelhiPolice) <a href="https://twitter.com/DelhiPolice/status/1664471259403649026?ref_src=twsrc%5Etfw">June 2, 2023</a></blockquote>
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<p>&nbsp;</p>

<p>Twitter users have liked Delhi Police’s funny response and have dropped hilarious replies under the tweet. One user wondered if Delhi Police would get Tesla vehicles.</p>

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<p dir="ltr" lang="es">🤣<br />
<br />
Teslas for Delhi Police? :)</p>
— Amit Paranjape (@aparanjape) <a href="https://twitter.com/aparanjape/status/1664506507063443458?ref_src=twsrc%5Etfw">June 2, 2023</a></blockquote>
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<p>&nbsp;</p>

<p>Another tweeted, “Oh boy, Delhi police with Global meme standards.”</p>

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<p dir="ltr" lang="en">Oh boy, Delhi police with Global meme standards 😎</p>
— Vipul CypherPunk (@vipul19) <a href="https://twitter.com/vipul19/status/1664523183977029632?ref_src=twsrc%5Etfw">June 2, 2023</a></blockquote>
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<p>&nbsp;</p>

<p>“In fact, Police Cats do exist. They are usually, under the covers,” read a comment.</p>

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<p dir="ltr" lang="en">Infact, Police Cats do exist. They are usually, under the covers!</p>
— Lord Leopard (Lutyens' Wale) نئی دہلی (@Leopard212) <a href="https://twitter.com/Leopard212/status/1664518687209177088?ref_src=twsrc%5Etfw">June 2, 2023</a></blockquote>
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<p>&nbsp;</p>

<p>Last month, Elon Musk shared an adorable tweet on the occasion of his son’s birthday. Musk wished his son on May 4, which was also Star Wars Day, with a special post. Musk wrote, “May the 4th be with you,” quoting a famous dialogue used by Star Wars fans.</p>

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<p dir="ltr" lang="en">May the 4th be with you ❤️ <a href="https://t.co/jicWCJohs5">pic.twitter.com/jicWCJohs5</a></p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1654183141605625860?ref_src=twsrc%5Etfw">May 4, 2023</a></blockquote>
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<p>&nbsp;</p>

<p>Elon Musk dated Canadian singer Grimes for more than three years. The couple welcomed X AE A-XII in May 2020. They also became parents to a daughter via surrogacy in March 2022. Later, the couple broke up. Grimes revealed it on Twitter. She wrote, “Me and E have broken up again since the writing of this article haha, but he’s my best friend and the love of my life, and my life and art are forever dedicated to The Mission now, I think Devin wrote that part of the story really well.”</p>

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<p dir="ltr" lang="en">Me and E have broken up *again* since the writing of this article haha, but he’s my best friend and the love of my life, and my life and art are forever dedicated to The Mission now, I think Devin wrote that part of the story rly well. Sique - peace out</p>
— 𝔊𝔯𝔦𝔪𝔢𝔰 (@Grimezsz) <a href="https://twitter.com/Grimezsz/status/1501959073591296002?ref_src=twsrc%5Etfw">March 10, 2022</a></blockquote>
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<p>&nbsp;</p>

<p>In a subsequent tweet, she explained that their mission is to build “sustainable energy and to make humanity a multi-planetary species.”<br />
<br />
&nbsp;</p>

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The official Twitter handle of Delhi Police often remains in news because of frequent witty posts and interactions. Delhi Police uses the social media platform in a clever way to spread messages on public safety, traffic rules and other issues.

The official Twitter handle of Delhi Police often remains in news because of frequent witty posts and interactions. Delhi Police uses the social media platform in a clever way to spread messages on public safety, traffic rules and other issues. The police department has once again caught the imagination of Twitter users with their “purrfect” response to a tweet from billionaire Elon Musk. It all started when the Tesla chief executive shared an adorable exchange that he had with his three-year-old son, X AE A-XII. Musk tweeted that his son had asked him, “If there are police cats, since there are police dogs.” Lil X just asked if there are police cats, since there are police dogs 😂 — Elon Musk (@elonmusk) June 1, 2023 × The Delhi Police were quick to notice Musk’s tweet and had an amusing reply ready. They wrote, "Hi @elonmusk, please tell Lil X that there are no police cats because they might get booked for feline-y and 'purr'petration." Hi @elonmusk, please tell Lil X that there are no police cats because they might get booked for feline-y and 'purr'petration. https://t.co/W8CMMvYi9I — Delhi Police (@DelhiPolice) June 2, 2023 × Twitter users have liked Delhi Police’s funny response and have dropped hilarious replies under the tweet. One user wondered if Delhi Police would get Tesla vehicles. 🤣 Teslas for Delhi Police? :) — Amit Paranjape (@aparanjape) June 2, 2023 × Another tweeted, “Oh boy, Delhi police with Global meme standards.” Oh boy, Delhi police with Global meme standards 😎 — Vipul CypherPunk (@vipul19) June 2, 2023 × “In fact, Police Cats do exist. They are usually, under the covers,” read a comment. Infact, Police Cats do exist. They are usually, under the covers! — Lord Leopard (Lutyens' Wale) نئی دہلی (@Leopard212) June 2, 2023 × Last month, Elon Musk shared an adorable tweet on the occasion of his son’s birthday. Musk wished his son on May 4, which was also Star Wars Day, with a special post. Musk wrote, “May the 4th be with you,” quoting a famous dialogue used by Star Wars fans. May the 4th be with you ❤️ pic.twitter.com/jicWCJohs5 — Elon Musk (@elonmusk) May 4, 2023 × Elon Musk dated Canadian singer Grimes for more than three years. The couple welcomed X AE A-XII in May 2020. They also became parents to a daughter via surrogacy in March 2022. Later, the couple broke up. Grimes revealed it on Twitter. She wrote, “Me and E have broken up again since the writing of this article haha, but he’s my best friend and the love of my life, and my life and art are forever dedicated to The Mission now, I think Devin wrote that part of the story really well.” Me and E have broken up *again* since the writing of this article haha, but he’s my best friend and the love of my life, and my life and art are forever dedicated to The Mission now, I think Devin wrote that part of the story rly well. Sique - peace out — 𝔊𝔯𝔦𝔪𝔢𝔰 (@Grimezsz) March 10, 2022 × In a subsequent tweet, she explained that their mission is to build “sustainable energy and to make humanity a multi-planetary species.” WATCH WION LIVE HERE

Delhi Police’s ‘purrfect’ reply to Elon Musk’s cat query tweet leaves internet in splits

<p>Elon Musk, the Chief Executive Officer of Tesla, concluded his two-day trip to China on Thursday, after having discussions with high-ranking Chinese government officials, including the vice premier. Following his departure from Shanghai, Musk's private jet was tracked heading to Austin, Texas, where Tesla's global headquarters is located.</p>

<p>During his visit, Musk also visited Tesla's Shanghai factory, which is the company's largest production facility globally. Photos and a video released by Tesla showed Musk holding up a "Giga Shanghai" sign, surrounded by hundreds of employees, including Tom Zhu, the head of global manufacturing.</p>

<h2><strong>Musk held talks with China’s top ministers</strong></h2>

<p>In the video, Musk expressed his admiration for the employees' perseverance in overcoming various challenges induced by stress in supply chains and the pandemic. He also made a heart sign with his hands, showing appreciation for their hard work.&nbsp;</p>

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<p dir="ltr" lang="en">Elon Musk's private jet left Shanghai and headed to Austin, Texas, wrapping up a whirlwind trip to China, his first in three years <a href="https://t.co/LvcCjM9Eha">https://t.co/LvcCjM9Eha</a> <a href="https://t.co/4ZDd9MiUDL">pic.twitter.com/4ZDd9MiUDL</a></p>
— Reuters (@Reuters) <a href="https://twitter.com/Reuters/status/1664229050695716865?ref_src=twsrc%5Etfw">June 1, 2023</a></blockquote>
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<p dir="ltr" lang="en"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> heads home after 3-day <a href="https://twitter.com/hashtag/China?src=hash&amp;ref_src=twsrc%5Etfw">#China</a> trip. <a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw">@Tesla</a> <a href="https://twitter.com/hashtag/China?src=hash&amp;ref_src=twsrc%5Etfw">#China</a> PR posts video of him rallying Shanghai factory staff for “amazing work”. Musk met Vice Premier/Xi confidante Ding Xuexiang Wed, Shanghai Communist Party head Thu says <a href="https://twitter.com/Reuters?ref_src=twsrc%5Etfw">@Reuters</a>. No Premier. <a href="https://t.co/mKZuVsbutE">https://t.co/mKZuVsbutE</a> <a href="https://t.co/jdwR0OphzT">pic.twitter.com/jdwR0OphzT</a></p>
— Eunice Yoon (@onlyyoontv) <a href="https://twitter.com/onlyyoontv/status/1664210924381814784?ref_src=twsrc%5Etfw">June 1, 2023</a></blockquote>
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<p>Prior to visiting the Shanghai factory, Musk had meetings with China's foreign, commerce, and industry ministers in Beijing. He also had a dinner meeting with the chairman of Contemporary Amperex Technology Co Ltd (CATL), the largest battery supplier for Tesla.</p>

<h2><strong>Musk’s rare meet with China’s Vice Premier</strong></h2>

<p>One significant highlight of Musk's trip was his meeting with Chinese Vice Premier Ding Xuexiang, who holds the sixth-highest position in China's top governing body. This marks the first known one-on-one meeting between Ding and a foreign CEO, highlighting the importance China places on its relationship with Tesla and Elon Musk. In 2019, Musk had a similar meeting with then-Premier Li Keqiang.</p>

<p>In addition to government officials, Musk also met with Chen Jining, the communist party secretary of Shanghai. The municipal government issued a statement on Thursday, stating that Chen welcomed Tesla to expand its investments and business operations in the city.</p>

<p>Although details of Musk's conversations with Chinese government officials remain undisclosed, the industry ministry confirmed that discussions revolved around electric vehicles and connected car development. The commerce ministry also announced that Musk discussed Tesla's progress in China with the minister.</p>

<h2><strong>Musk remained off Twitter during his China visit&nbsp;</strong></h2>

<p>Musk's visit to China drew attention for another peculiar reason: his silence on Twitter. Known for his active presence on the social media platform, Musk refrained from tweeting since arriving in China. This marks his longest hiatus from Twitter since June 2022 when he was involved in acquiring Twitter.</p>

<p>It is worth noting that foreign social media platforms like Twitter and Facebook are banned in China, although they can be accessed through virtual private networks (VPNs).</p>

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Elon Musk, the Chief Executive Officer of Tesla, concluded his two-day trip to China on Thursday, after having discussions with high-ranking Chinese government officials, including the vice premier.

Elon Musk, the Chief Executive Officer of Tesla, concluded his two-day trip to China on Thursday, after having discussions with high-ranking Chinese government officials, including the vice premier. Following his departure from Shanghai, Musk's private jet was tracked heading to Austin, Texas, where Tesla's global headquarters is located. During his visit, Musk also visited Tesla's Shanghai factory, which is the company's largest production facility globally. Photos and a video released by Tesla showed Musk holding up a "Giga Shanghai" sign, surrounded by hundreds of employees, including Tom Zhu, the head of global manufacturing. Musk held talks with China’s top ministers In the video, Musk expressed his admiration for the employees' perseverance in overcoming various challenges induced by stress in supply chains and the pandemic. He also made a heart sign with his hands, showing appreciation for their hard work. Elon Musk's private jet left Shanghai and headed to Austin, Texas, wrapping up a whirlwind trip to China, his first in three years https://t.co/LvcCjM9Eha pic.twitter.com/4ZDd9MiUDL — Reuters (@Reuters) June 1, 2023 × $TSLA @elonmusk heads home after 3-day #China trip. @Tesla #China PR posts video of him rallying Shanghai factory staff for “amazing work”. Musk met Vice Premier/Xi confidante Ding Xuexiang Wed, Shanghai Communist Party head Thu says @Reuters. No Premier. https://t.co/mKZuVsbutE pic.twitter.com/jdwR0OphzT — Eunice Yoon (@onlyyoontv) June 1, 2023 × Prior to visiting the Shanghai factory, Musk had meetings with China's foreign, commerce, and industry ministers in Beijing. He also had a dinner meeting with the chairman of Contemporary Amperex Technology Co Ltd (CATL), the largest battery supplier for Tesla. Musk’s rare meet with China’s Vice Premier One significant highlight of Musk's trip was his meeting with Chinese Vice Premier Ding Xuexiang, who holds the sixth-highest position in China's top governing body. This marks the first known one-on-one meeting between Ding and a foreign CEO, highlighting the importance China places on its relationship with Tesla and Elon Musk. In 2019, Musk had a similar meeting with then-Premier Li Keqiang. In addition to government officials, Musk also met with Chen Jining, the communist party secretary of Shanghai. The municipal government issued a statement on Thursday, stating that Chen welcomed Tesla to expand its investments and business operations in the city. Although details of Musk's conversations with Chinese government officials remain undisclosed, the industry ministry confirmed that discussions revolved around electric vehicles and connected car development. The commerce ministry also announced that Musk discussed Tesla's progress in China with the minister. Musk remained off Twitter during his China visit Musk's visit to China drew attention for another peculiar reason: his silence on Twitter. Known for his active presence on the social media platform, Musk refrained from tweeting since arriving in China. This marks his longest hiatus from Twitter since June 2022 when he was involved in acquiring Twitter. It is worth noting that foreign social media platforms like Twitter and Facebook are banned in China, although they can be accessed through virtual private networks (VPNs). WATCH WION LIVE HERE ×

Tesla CEO Musk concludes two-day China trip, spends longest time off Twitter since taking over

<p>Elon Musk has received a grand welcome in China. It is the Tesla CEO’s first trip to the country in over three years. The industrialist has vowed to expand his business in China. &nbsp;But, not everyone is happy with the promises Elon Musk has been making. Vivek Ramaswamy, the Republican leader and US presidential candidate has raised concerns over the billionaire’s trip to China.</p>

<p>In a video, Vivek Ramaswamy, who is of Indian origin, said that Elon Musk’s meeting with Qin Gang, China's foreign minister, was no small matter. The Republican candidate stated that the Tesla CEO’s statement referring to the United States and Communist China as "conjoined twins" was posted in the Asian country, but not in America.</p>

<p>“I’ve been one of the most vocal supporters of Elon Musk’s effort to transform Twitter, but it’s a real risk to the US&nbsp;when the CCP (Chinese Communist Party) turns our most prominent business leaders and celebrities - Tim Cook, Larry Fink, LeBron James, Elon Musk - into puppets to advance their agenda. That tilts the global scales of perception in China’s favour - and sadly, it’s working. The U.S. needs leaders who aren’t in China’s pocket, yet Biden is just another embodiment of that same problem,” Vivek Ramaswamy said.&nbsp;</p>

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<p dir="ltr" lang="en">I'm breaking an unspoken rule in the GOP, but I call it like I see it: it's deeply concerning that <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> met with China's foreign minister yesterday to oppose decoupling and referred to the U.S. &amp; Communist China as "conjoined twins." Tesla's VP in China reposted that_ <a href="https://t.co/UD26pweilX">pic.twitter.com/UD26pweilX</a></p>
— Vivek Ramaswamy (@VivekGRamaswamy) <a href="https://twitter.com/VivekGRamaswamy/status/1664022522835226627?ref_src=twsrc%5Etfw">May 31, 2023</a></blockquote>
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<p>The visit comes as Tesla is facing stiff competition from &nbsp;Chinese-made electric vehicles. Elon Musk is the latest in a series of American industrialists who have visited China after the country reversed its zero-Covid policy. &nbsp;In March, Apple CEO Tim Cook undertook a trip to China.</p>

<p>Elon Musk has not yet made any public statements on Twitter about his trip to China. Interestingly, Twitter, which is owned by Musk, remains banned in the country.</p>

<h2>Significance of Elon Musk’s China Trip</h2>

<p>Elon Musk has often expressed his admiration for China. He had earlier suggested that Taiwan, a self-governed territory that China claims as part of its country, could be run as a “special administrative zone”. The billionaire’s Shanghai-based Gigafactory has also made headlines. Last year, the factory had contributed to about one-quarter of Shanghai's total automotive production value, as per a Reuters report. Local authorities have vowed to boost ties with Tesla, but some uncertainty regarding the Shanghai factory’s expansion plan remains. As per Reuters, there is no clarity on whether Tesla is facing any regulatory hurdles in its aim to broaden its production facilities.</p>

<p>Investors are also keen to see whether China will clear Tesla's advanced driver assistance features for release.<br />
&nbsp;</p>


Elon Musk has received a grand welcome in China. It is the Tesla CEO’s first trip to the country in over three years. The industrialist has vowed to expand his business in China.

Elon Musk has received a grand welcome in China. It is the Tesla CEO’s first trip to the country in over three years. The industrialist has vowed to expand his business in China. But, not everyone is happy with the promises Elon Musk has been making. Vivek Ramaswamy, the Republican leader and US presidential candidate has raised concerns over the billionaire’s trip to China. In a video, Vivek Ramaswamy, who is of Indian origin, said that Elon Musk’s meeting with Qin Gang, China's foreign minister, was no small matter. The Republican candidate stated that the Tesla CEO’s statement referring to the United States and Communist China as "conjoined twins" was posted in the Asian country, but not in America. “I’ve been one of the most vocal supporters of Elon Musk’s effort to transform Twitter, but it’s a real risk to the US when the CCP (Chinese Communist Party) turns our most prominent business leaders and celebrities - Tim Cook, Larry Fink, LeBron James, Elon Musk - into puppets to advance their agenda. That tilts the global scales of perception in China’s favour - and sadly, it’s working. The U.S. needs leaders who aren’t in China’s pocket, yet Biden is just another embodiment of that same problem,” Vivek Ramaswamy said. I'm breaking an unspoken rule in the GOP, but I call it like I see it: it's deeply concerning that @elonmusk met with China's foreign minister yesterday to oppose decoupling and referred to the U.S. & Communist China as "conjoined twins." Tesla's VP in China reposted that_ pic.twitter.com/UD26pweilX — Vivek Ramaswamy (@VivekGRamaswamy) May 31, 2023 × The visit comes as Tesla is facing stiff competition from Chinese-made electric vehicles. Elon Musk is the latest in a series of American industrialists who have visited China after the country reversed its zero-Covid policy. In March, Apple CEO Tim Cook undertook a trip to China. Elon Musk has not yet made any public statements on Twitter about his trip to China. Interestingly, Twitter, which is owned by Musk, remains banned in the country. Significance of Elon Musk’s China Trip Elon Musk has often expressed his admiration for China. He had earlier suggested that Taiwan, a self-governed territory that China claims as part of its country, could be run as a “special administrative zone”. The billionaire’s Shanghai-based Gigafactory has also made headlines. Last year, the factory had contributed to about one-quarter of Shanghai's total automotive production value, as per a Reuters report. Local authorities have vowed to boost ties with Tesla, but some uncertainty regarding the Shanghai factory’s expansion plan remains. As per Reuters, there is no clarity on whether Tesla is facing any regulatory hurdles in its aim to broaden its production facilities. Investors are also keen to see whether China will clear Tesla's advanced driver assistance features for release.

On Elon Musk's China trip, US presidential candidate Vivek Ramaswamy has this to say

Tesla boss Elon Musk is on a business visit to China his first since COVID-19 breakout in 2019. Now the billionaire met with China's Foreign Minister Qin Gang. The visit is also crucial for Tesla's Chinese market share is on the decline.

Elon Musk in China, his first visit after COVID-19 | Business News

The struggling Chinese economy may get a turbo boost from Elon Musk. Chinese foreign ministry said that Musk's Tesla is likely to expand its business in the country. This is a huge announcement for the world's second largest economy. China has been witnessing an exodus of companies to competing economies like India and Vietnam.

Elon Musk bats for better US-China ties

<p>China’s effusive overture to American billionaire Elon Musk was on clear display this week when the Tesla boss visited the country for the first time in three years. China's foreign, commerce and industry ministers, all were lined up to have a one-to-one discussion with the popular businessman. Zeng Yuqun, the chairman of China’s largest battery manufacturer CATL, also hosted a dinner for Musk.</p>
<img alt="Musk" data-align="center" data-entity-type="file" data-entity-uuid="c04b780c-c338-418b-9616-4c336aa2d1cb" src="//cdn.wionews.com/sites/default/files/inline-images/FE3XKI3MYFNSBOHP3SWS24LSQI.jpg" />
<p>Adding more charm to Musk’s visit were overwhelming comments made by Chinese netizens. Despite rising tensions between US and China, Chinese users were in awe of the visiting billionaire, with one user commenting, “He's a global idol," and another saying, “Elon Musk is just great, if only China could have someone like Elon Musk."</p>

<h2><strong>Musk’s visit: A hot topic in China</strong></h2>

<p>Apart from Elon Musk, JP Morgan's Jamie Dimon and Starbucks’ Laxman Narasimhan are also visiting the communist country this week. In March, Apple CEO Tim Cook was there. While China continues to be a significant market for all of these business tycoons, China’s recent departure from its stringent Zero Covid policy has also encouraged such high-stake visits.</p>
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<p>However, the intensity of the warm welcome bestowed upon Musk has been second to none. His visit is being eagerly followed by the Chinese public. His comments on artificial intelligence and the future of electric vehicles have especially generated intensive engagement on Chinese social media.&nbsp;</p>

<p><strong>Watch:&nbsp;Elon Musk in China, his first visit after COVID-19 | Business News</strong></p>

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<p>While details about Musk’s discussions with the Chinese officials are not made public yet, a statement released by China’s industry minister reveals that the focus of the discussions held with Musk was the development of electric cars in China.</p>

<h2><strong>Tesla facing challenges in China</strong></h2>

<p>Elon Musk’s visit to China comes amidst speculations about Tesla facing challenges in China regarding the expansion of its Shanghai plant due to data concerns. The plant was initially scheduled to undergo “third-phase” expansion mid-year, which would effectively double the plant’s production capacity to two&nbsp;million cars a year.&nbsp;</p>
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<p>Tesla cars were banned from Chinese military sites and housing compounds in early 2021 over concerns that the in-built cameras of the car might record sensitive location data.</p>

<p><a href="https://www.wionews.com/business-economy/elon-musk-in-china-tesla-ceo-minister-talk-ways-to-develop-new-energy-vehicles-598731"><strong>Also Read |&nbsp;Elon Musk in China: Tesla CEO, minister talk ways to develop new energy vehicles</strong></a></p>

<p>Tesla is also facing intense competition from Chinese electric vehicle manufacturing companies, including BYD and SAIC. Tesla presently occupies a 10.3 per cent share of China’s automobile market and is the only foreign brand among the top 10.&nbsp;</p>

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China’s effusive overture to American billionaire Elon Musk was on clear display this week when the Tesla boss visited the country for the first time in three years.

China’s effusive overture to American billionaire Elon Musk was on clear display this week when the Tesla boss visited the country for the first time in three years. China's foreign, commerce and industry ministers, all were lined up to have a one-to-one discussion with the popular businessman. Zeng Yuqun, the chairman of China’s largest battery manufacturer CATL, also hosted a dinner for Musk. Adding more charm to Musk’s visit were overwhelming comments made by Chinese netizens. Despite rising tensions between US and China, Chinese users were in awe of the visiting billionaire, with one user commenting, “He's a global idol," and another saying, “Elon Musk is just great, if only China could have someone like Elon Musk." Musk’s visit: A hot topic in China Apart from Elon Musk, JP Morgan's Jamie Dimon and Starbucks’ Laxman Narasimhan are also visiting the communist country this week. In March, Apple CEO Tim Cook was there. While China continues to be a significant market for all of these business tycoons, China’s recent departure from its stringent Zero Covid policy has also encouraged such high-stake visits. However, the intensity of the warm welcome bestowed upon Musk has been second to none. His visit is being eagerly followed by the Chinese public. His comments on artificial intelligence and the future of electric vehicles have especially generated intensive engagement on Chinese social media. Watch: Elon Musk in China, his first visit after COVID-19 | Business News × While details about Musk’s discussions with the Chinese officials are not made public yet, a statement released by China’s industry minister reveals that the focus of the discussions held with Musk was the development of electric cars in China. Tesla facing challenges in China Elon Musk’s visit to China comes amidst speculations about Tesla facing challenges in China regarding the expansion of its Shanghai plant due to data concerns. The plant was initially scheduled to undergo “third-phase” expansion mid-year, which would effectively double the plant’s production capacity to two million cars a year. Tesla cars were banned from Chinese military sites and housing compounds in early 2021 over concerns that the in-built cameras of the car might record sensitive location data. Also Read | Elon Musk in China: Tesla CEO, minister talk ways to develop new energy vehicles Tesla is also facing intense competition from Chinese electric vehicle manufacturing companies, including BYD and SAIC. Tesla presently occupies a 10.3 per cent share of China’s automobile market and is the only foreign brand among the top 10. WATCH WION LIVE HERE ×

China offers Musk red carpet welcome as Tesla boss takes Chinese internet by storm

<p>Elon Musk,&nbsp;on Tuesday, arrived in Beijing on an unannounced visit. This is his first trip to China in more than three years. He is expected to&nbsp;visit Tesla's Shanghai plant during his trip.&nbsp;</p>

<p>Musk met Foreign Minister Qin Gang in Beijing after he landed, said the ministry.</p>

<p>Qin told Musk China was "committed to creating a better market-oriented, rule-of-law-based and internationalised business environment" for foreign enterprises, his ministry said on its website.</p>

<p>Musk in response said, "Tesla opposes 'decoupling and breaking chains', and is willing to continue to expand its business in China", according to the ministry's readout.</p>

<p>According to Beijing, on Tuesday, Qin and Musk discussed relations between China and the United States, with the Chinese foreign minister saying the two countries should "apply the brakes in a timely manner to avoid dangerous driving".</p>

<h2><strong>Musk's private jet lands in Beijing&nbsp;</strong></h2>

<p>As per a Reuters news agency witness, a private jet, which is used by Tesla Inc CEO Elon Musk, landed in Beijing on Tuesday.</p>

<p>According to a flight aggregation website ADS-B Exchange, Musk’s private jet, a 2015 Gulfstream G650ER, was seen leaving Alaska before crossing over Japan and South Korea on Tuesday morning.</p>

<p>The jet with its identifying tail number could be seen at Beijing Capital International Airport on Tuesday, according to the Reuters witness.</p>

<p>After the United States, China is Tesla's second-largest market. The electric car company's Shanghai plant is its largest production hub.</p>

<p>Musk's visit to China would be the first after he took the internet by storm with his bizarre dance moves during a 2020 event at Tesla's plant in Shanghai.</p>

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<p dir="ltr" lang="en">.<a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> knows how to get down <a href="https://t.co/yIwcByxAuL">pic.twitter.com/yIwcByxAuL</a></p>
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<p>&nbsp;</p>

<p>This would also mark his first visit to the country since the COVID-19 pandemic.&nbsp;</p>

<p>This also comes after Tesla is facing challenges including intense competition from Chinese automaker companies that are exporting their vehicles as demand in the world's largest auto market weakens.&nbsp;</p>

<p>Earlier this month, Musk in a conversation with CNBC had said, "There are some constraints on our ability to expand in China." He added: "It's not a demand issue."</p>

<p>In the same interview, Musk said tensions between the United States and China "should be a concern for everyone."</p>

<h2><strong>Tesla's road to India and a Chinese stumble</strong></h2>

<p>Tesla has not yet entered India, the world's fifth-largest economy.&nbsp;</p>

<p>While Elon Musk has criticised what he said were India's high import taxes, India is averse to the idea of letting Tesla sell electric vehicles made in China.&nbsp;</p>

<p>In April 2022, speaking at Raisina Dialogue in New Delhi, India's road transport minister Nitin Gadkari said that Tesla's proposition of "manufacturing in China and selling in India" cannot be an acceptable one.&nbsp;</p>

<p>He said, "If Elon Musk is ready to manufacture in India, we have all the competencies and technology. Our request to him is to manufacture in India. India is a huge market, we have ports here. He could make in India and export all over."</p>

<p><em>(With inputs from agencies)</em></p>

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Elon Musk, on Tuesday, arrived in Beijing on an unannounced visit. This is his first trip to China in more than three years. He is expected to visit Tesla's Shanghai plant during his trip.

Elon Musk, on Tuesday, arrived in Beijing on an unannounced visit. This is his first trip to China in more than three years. He is expected to visit Tesla's Shanghai plant during his trip. Musk met Foreign Minister Qin Gang in Beijing after he landed, said the ministry. Qin told Musk China was "committed to creating a better market-oriented, rule-of-law-based and internationalised business environment" for foreign enterprises, his ministry said on its website. Musk in response said, "Tesla opposes 'decoupling and breaking chains', and is willing to continue to expand its business in China", according to the ministry's readout. According to Beijing, on Tuesday, Qin and Musk discussed relations between China and the United States, with the Chinese foreign minister saying the two countries should "apply the brakes in a timely manner to avoid dangerous driving". Musk's private jet lands in Beijing As per a Reuters news agency witness, a private jet, which is used by Tesla Inc CEO Elon Musk, landed in Beijing on Tuesday. According to a flight aggregation website ADS-B Exchange, Musk’s private jet, a 2015 Gulfstream G650ER, was seen leaving Alaska before crossing over Japan and South Korea on Tuesday morning. The jet with its identifying tail number could be seen at Beijing Capital International Airport on Tuesday, according to the Reuters witness. After the United States, China is Tesla's second-largest market. The electric car company's Shanghai plant is its largest production hub. Musk's visit to China would be the first after he took the internet by storm with his bizarre dance moves during a 2020 event at Tesla's plant in Shanghai. .@elonmusk knows how to get down pic.twitter.com/yIwcByxAuL — Tesla Owners Silicon Valley (@teslaownersSV) March 6, 2023 × This would also mark his first visit to the country since the COVID-19 pandemic. This also comes after Tesla is facing challenges including intense competition from Chinese automaker companies that are exporting their vehicles as demand in the world's largest auto market weakens. Earlier this month, Musk in a conversation with CNBC had said, "There are some constraints on our ability to expand in China." He added: "It's not a demand issue." In the same interview, Musk said tensions between the United States and China "should be a concern for everyone." Tesla's road to India and a Chinese stumble Tesla has not yet entered India, the world's fifth-largest economy. While Elon Musk has criticised what he said were India's high import taxes, India is averse to the idea of letting Tesla sell electric vehicles made in China. In April 2022, speaking at Raisina Dialogue in New Delhi, India's road transport minister Nitin Gadkari said that Tesla's proposition of "manufacturing in China and selling in India" cannot be an acceptable one. He said, "If Elon Musk is ready to manufacture in India, we have all the competencies and technology. Our request to him is to manufacture in India. India is a huge market, we have ports here. He could make in India and export all over." (With inputs from agencies) WATCH WION LIVE HERE

Tesla CEO Elon Musk lands in Beijing, meets Foreign Minister Qin Gang

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<p>Tesla's Chief Executive Officer (CEO) Elon Musk met Chinese Industry Minister Jin Zhuanglong in Beijing on Wednesday (May 31) to discuss ways to develop new energy vehicles. According to a readout from the Ministry of Industry and Information Technology, Musk met Zhuanglong to discuss "the development of new energy vehicles and intelligent connected vehicles." The readout did not give any further details.&nbsp;</p>

<p>Musk arrived in Beijing on Tuesday, his first trip to China in more than three years. On Wednesday, the Tesla CEO visited the Commerce Ministry. Speaking to reporters, Chinese Foreign Ministry spokesperson Mao Ning said, "Regarding your second question about the situation of Mr. Musk visiting China, China has released information on relevant meetings which you can check. I have no further information to add."</p>

<p>Musk was seen leaving his hotel accompanied by Tesla's China-based public affairs chief Grace Tao and head of global manufacturing Tom Zhu. His car was later seen parked outside the ministry.</p>

<h2><strong>Musk meets Chinese foreign minister</strong></h2>

<p>A day back, Musk met Chinese Foreign Minister Qing Gang hours after landing in Beijing. According to a report by the news agency Reuters, Gang told Musk that China was committed to improving the business environment for investors, including Tesla, and used an elaborate driving metaphor to describe China-US relations.&nbsp;</p>

<p>The Tesla CEO, meanwhile, expressed his opposition to an economic decoupling between Washington and Beijing.&nbsp;</p>

<p>"The interests of the United States and China are intertwined, like conjoined twins, who are inseparable from each other," Musk added.&nbsp;</p>

<h2><strong>'He's a pioneer': Musk showered with praise during China trip</strong></h2>

<p>Musk has been showered with praise since the time he arrived in Beijing. There is an outpour of enthusiasm for him on Chinese social media. "He's a global idol," commented one user. "Elon Musk is just great, if only China could have someone like Elon Musk," said another.</p>

<p>His visit to China comes as Tesla is facing intensifying competition from Chinese-made electric vehicles and some uncertainty about expansion plans for the Shanghai plant. And his extensive ties to China have raised eyebrows in the US, with President Joe Biden saying in November 2022 that the executive's links to foreign countries were "worthy" of scrutiny.</p>

<p><em><strong>(With inputs from agencies)</strong></em></p>

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Tesla's Chief Executive Officer (CEO) Elon Musk met Chinese Industry Minister Jin Zhuanglong in Beijing on Wednesday (May 31) to discuss ways to develop new energy vehicles.

Tesla's Chief Executive Officer (CEO) Elon Musk met Chinese Industry Minister Jin Zhuanglong in Beijing on Wednesday (May 31) to discuss ways to develop new energy vehicles. According to a readout from the Ministry of Industry and Information Technology, Musk met Zhuanglong to discuss "the development of new energy vehicles and intelligent connected vehicles." The readout did not give any further details. Musk arrived in Beijing on Tuesday, his first trip to China in more than three years. On Wednesday, the Tesla CEO visited the Commerce Ministry. Speaking to reporters, Chinese Foreign Ministry spokesperson Mao Ning said, "Regarding your second question about the situation of Mr. Musk visiting China, China has released information on relevant meetings which you can check. I have no further information to add." Musk was seen leaving his hotel accompanied by Tesla's China-based public affairs chief Grace Tao and head of global manufacturing Tom Zhu. His car was later seen parked outside the ministry. Musk meets Chinese foreign minister A day back, Musk met Chinese Foreign Minister Qing Gang hours after landing in Beijing. According to a report by the news agency Reuters, Gang told Musk that China was committed to improving the business environment for investors, including Tesla, and used an elaborate driving metaphor to describe China-US relations. The Tesla CEO, meanwhile, expressed his opposition to an economic decoupling between Washington and Beijing. "The interests of the United States and China are intertwined, like conjoined twins, who are inseparable from each other," Musk added. 'He's a pioneer': Musk showered with praise during China trip Musk has been showered with praise since the time he arrived in Beijing. There is an outpour of enthusiasm for him on Chinese social media. "He's a global idol," commented one user. "Elon Musk is just great, if only China could have someone like Elon Musk," said another. His visit to China comes as Tesla is facing intensifying competition from Chinese-made electric vehicles and some uncertainty about expansion plans for the Shanghai plant. And his extensive ties to China have raised eyebrows in the US, with President Joe Biden saying in November 2022 that the executive's links to foreign countries were "worthy" of scrutiny. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk in China: Tesla CEO, minister talk ways to develop new energy vehicles

<p>The lean patch continues for the Chinese economy.&nbsp;</p>

<p>China's manufacturing sector contracted faster than expected in May due to weakening demand. Latest government data shows that the manufacturing Purchasing Managers' Index or PMI fell to 48.8 in May from 49.2 in April.&nbsp;</p>

<p>An index below 50 shows contraction in the sector, which clearly indicates that recovery in the world's second largest economy is losing steam after&nbsp;an uptick in the first three months of 2023.&nbsp;</p>

<p>The weak manufacturing data for May is all set to add more pressure on policymakers to double down on economic recovery.</p>

<p>The data comes while China hopes to get a much-needed boost from Elon Musk, who is on an unannounced trip to China, his first since the pandemic began in early 2020.</p>

<p>The Chinese foreign ministry on Tuesday said that Musk's Tesla is likely to expand its business in the country.</p>

<p>China is a huge market for the Electric Vehicle maker Tesla. The world's second largest economy is the company's second-largest market after the United States.</p>

<p>The company also runs its biggest production hub in Shanghai, which began operations in late 2019.&nbsp;</p>

<p>This makes China critical in Musk's plan to dominate the global EV market. Hence, it must come as no surprise that Chinese media reports suggest that Musk wants better economic ties between the US And China.</p>

<p>“The interests of the united states and China are intertwined, like conjoined twins, inseparable from each other," he is reported to have said in Beijing.&nbsp;</p>

<p>However, China's manufacturing might is now being challenged by India. The country is shoring up its manufacturing capacity as part of its 'Make in India' initiative.</p>

<p>A recent survey of over 100 CEOs showed that India is increasingly being favoured over China as a top destinations by multinational companies.&nbsp;</p>

<p>Even Tesla seems to be interested in manufacturing in India.&nbsp;</p>

<p>Recent reports have suggested that the EV maker is likely to set up a factory in India, as part of a plan to diversify its supply chain.&nbsp;</p>

<p>Notably, Musk has criticised what he said were India's high import taxes. On the other hand, India is averse to the idea of letting Tesla sell electric vehicles made in China.&nbsp;</p>


The lean patch continues for the Chinese economy. China's manufacturing sector contracted faster than expected in May due to weakening demand. Latest government data shows that the manufacturing Purchasing Managers' Index or PMI fell to 48.

The lean patch continues for the Chinese economy. China's manufacturing sector contracted faster than expected in May due to weakening demand. Latest government data shows that the manufacturing Purchasing Managers' Index or PMI fell to 48.8 in May from 49.2 in April. An index below 50 shows contraction in the sector, which clearly indicates that recovery in the world's second largest economy is losing steam after an uptick in the first three months of 2023. The weak manufacturing data for May is all set to add more pressure on policymakers to double down on economic recovery. The data comes while China hopes to get a much-needed boost from Elon Musk, who is on an unannounced trip to China, his first since the pandemic began in early 2020. The Chinese foreign ministry on Tuesday said that Musk's Tesla is likely to expand its business in the country. China is a huge market for the Electric Vehicle maker Tesla. The world's second largest economy is the company's second-largest market after the United States. The company also runs its biggest production hub in Shanghai, which began operations in late 2019. This makes China critical in Musk's plan to dominate the global EV market. Hence, it must come as no surprise that Chinese media reports suggest that Musk wants better economic ties between the US And China. “The interests of the united states and China are intertwined, like conjoined twins, inseparable from each other," he is reported to have said in Beijing. However, China's manufacturing might is now being challenged by India. The country is shoring up its manufacturing capacity as part of its 'Make in India' initiative. A recent survey of over 100 CEOs showed that India is increasingly being favoured over China as a top destinations by multinational companies. Even Tesla seems to be interested in manufacturing in India. Recent reports have suggested that the EV maker is likely to set up a factory in India, as part of a plan to diversify its supply chain. Notably, Musk has criticised what he said were India's high import taxes. On the other hand, India is averse to the idea of letting Tesla sell electric vehicles made in China.

China's manufacturing sector contracts further in May

The newest issue that has plagued Elon Musk's electric car company, Tesla, is a study that claims it failed to protect customer data and has received several complaints about its driving aid technology. The story was published by a German newspaper.

Report accuses Tesla of failure to protect customer data

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