Law enforcement officials have identified a U.S. Army soldier from Colorado as a likely person inside a Tesla Cybertruck that exploded outside the Trump International Hotel in Las Vegas. 
This incident was initially thought of as a terror attack, as it took place hours after the New Orleans mass carnage on Thursday. The FBI stated that it has yet to uncover any conclusive connection between the tragic New Year's Day truck attack in New Orleans, which claimed 15 lives. Watch in for more details!

Tesla Cybertruck Explosion: Matthew Livelsberger Shot Himself In Head Before Car Blew Up, Says FBI

U.S. authorities are investigating any possible connection between the attack in New Orleans, which left 15 people dead, and the explosion of a Cybertruck outside a Trump Hotel in Las Vegas, where one person died. Elon Musk, who owns Tesla, the company that produces the Cybertruck, has also suggested a potential link between the two incidents. 
Musk claimed that both vehicles were rented using the same app. At least one person was killed and several others wounded when a Tesla Cybertruck exploded outside a hotel owned by U.S. President-elect Donald Trump in Las Vegas.

FBI Probes Possible Link Between New Orleans Attack And Cybertruck Blast

In a shocking incident, a Tesla Cybertruck exploded outside US President-elect Donald Trump's hotel in Las Vegas on Wednesday (Jan 1) killing at least one.
The authorities are investigating the incident as a possible act of terror.
The electric car arrived at the Trump International Hotel's glass entrance moments before it burst into flames.
The footage of the incident shows the vehicle parked at the hotel entrance before the large explosion occurred.&nbsp;
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It was then followed by smaller explosions.
McMahill said there was "one deceased individual inside the Cybertruck" while seven others received "minor" injuries.&nbsp;
&ldquo;A 2024 Cybertruck pulled up to the front of the hotel, and in fact, I can tell you, it pulled right up to the glass entrance doors of the hotel. We saw that smoke start showing from the vehicle, and then a large explosion from the truck,&rdquo; Las Vegas Metropolitan Sheriff Kevin McMahill told reporters.&nbsp;
<h2>Elon Musk reacts</h2>
Tesla CEO Elon Musk on Wednesday (Jan 1) said that both Cybertruck and F-150 suicide bomb incidents seem to be linked and look like acts of terrorism.
He said in a post on X that the explosion was "caused by very large fireworks and/or a bomb carried in the bed of the rented Cybertruck," and that it was "unrelated to the vehicle itself."
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m5er8a8k-2rfxod4a-5b081zhr">
We have now confirmed that the explosion was caused by very large fireworks and/or a bomb carried in the bed of the rented Cybertruck and is unrelated to the vehicle itself. All vehicle telemetry was positive at the time of the explosion. <a href="https://t.co/HRjb87YbaJ">https://t.co/HRjb87YbaJ</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1874579547452269054?ref_src=twsrc%5Etfw">January 1, 2025</a></blockquote>
He also said that both vehicles involved in the Las Vegas and New Orleans attacks were rented from the same app which creates speculation that the incidents are linked.&nbsp;
&ldquo;Appears likely to be an act of terrorism. Both this Cybertruck and the F-150 suicide bomb in New Orleans were rented from Turo. Perhaps they are linked in some way,&rdquo; Musk wrote in a post on X.
Earlier, he said the "whole Tesla senior team" was investigating the blast, adding: "We've never seen anything like this."
The incident comes hours after a truck rammed a crowd in New Orleans, claiming the lives of at least 15 and wounding dozens of others.
<h2>Musk backs Cybertruck build quality, says 'picked the wrong vehicle for terrorist attack'</h2>
The Tesla CEO later in a post lauded the build quality of his company's cybertruck saying the "evil knuckleheads picked the wrong vehicle for a terrorist attack".
"The evil knuckleheads picked the wrong vehicle for a terrorist attack. Cybertruck actually contained the explosion and directed the blast upwards. Not even the glass doors of the lobby were broken," he wrote on X.
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m5f7sc0f-s7rvtjmg-as380qwe">
The evil knuckleheads picked the wrong vehicle for a terrorist attack. Cybertruck actually contained the explosion and directed the blast upwards. Not even the glass doors of the lobby were broken. <a href="https://t.co/9vj1JdcRZV">https://t.co/9vj1JdcRZV</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1874614362612326761?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
Also read: <a href="https://www.wionews.com/world/suspect-behind-new-orleans-truck-attack-shamsud-din-jabbar-identified-as-us-citizen-8583914" rel="dofollow">Suspect behind New Orleans truck attack identified as US citizen Shamsud Din Jabbar</a>
<h2>Biden says authorities investigating possible link between both incidents</h2>
US President Joe Biden said that the authorities were investigating a possible link between the blast and the New Orleans attack.
"Thus far, there's nothing to report on that score," Biden said.&nbsp;
FBI agent Jeremy Schwartz described the Las Vegas blast as "an isolated incident," adding, "We do not believe that there's a bunch of folks out there supporting this or helping this."&nbsp;
(With inputs from agencies)

US President Joe Biden said that the authorities were investigating a possible link between the blast and the New Orleans attack.


In a shocking incident, a Tesla Cybertruck exploded outside US President-elect Donald Trump's hotel in Las Vegas on Wednesday (Jan 1) killing at least one. The authorities are investigating the incident as a possible act of terror. The electric car arrived at the Trump International Hotel's glass entrance moments before it burst into flames. The footage of the incident shows the vehicle parked at the hotel entrance before the large explosion occurred. View this post on Instagram A post shared by WION (@wionews) It was then followed by smaller explosions. McMahill said there was "one deceased individual inside the Cybertruck" while seven others received "minor" injuries. “A 2024 Cybertruck pulled up to the front of the hotel, and in fact, I can tell you, it pulled right up to the glass entrance doors of the hotel. We saw that smoke start showing from the vehicle, and then a large explosion from the truck,” Las Vegas Metropolitan Sheriff Kevin McMahill told reporters. Elon Musk reacts Tesla CEO Elon Musk on Wednesday (Jan 1) said that both Cybertruck and F-150 suicide bomb incidents seem to be linked and look like acts of terrorism. He said in a post on X that the explosion was "caused by very large fireworks and/or a bomb carried in the bed of the rented Cybertruck," and that it was "unrelated to the vehicle itself." We have now confirmed that the explosion was caused by very large fireworks and/or a bomb carried in the bed of the rented Cybertruck and is unrelated to the vehicle itself. All vehicle telemetry was positive at the time of the explosion. https://t.co/HRjb87YbaJ — Elon Musk (@elonmusk) January 1, 2025 He also said that both vehicles involved in the Las Vegas and New Orleans attacks were rented from the same app which creates speculation that the incidents are linked. “Appears likely to be an act of terrorism. Both this Cybertruck and the F-150 suicide bomb in New Orleans were rented from Turo. Perhaps they are linked in some way,” Musk wrote in a post on X. Earlier, he said the "whole Tesla senior team" was investigating the blast, adding: "We've never seen anything like this." The incident comes hours after a truck rammed a crowd in New Orleans, claiming the lives of at least 15 and wounding dozens of others. Musk backs Cybertruck build quality, says 'picked the wrong vehicle for terrorist attack' The Tesla CEO later in a post lauded the build quality of his company's cybertruck saying the "evil knuckleheads picked the wrong vehicle for a terrorist attack". "The evil knuckleheads picked the wrong vehicle for a terrorist attack. Cybertruck actually contained the explosion and directed the blast upwards. Not even the glass doors of the lobby were broken," he wrote on X. The evil knuckleheads picked the wrong vehicle for a terrorist attack. Cybertruck actually contained the explosion and directed the blast upwards. Not even the glass doors of the lobby were broken. https://t.co/9vj1JdcRZV — Elon Musk (@elonmusk) January 2, 2025 Also read: Suspect behind New Orleans truck attack identified as US citizen Shamsud Din Jabbar Biden says authorities investigating possible link between both incidents US President Joe Biden said that the authorities were investigating a possible link between the blast and the New Orleans attack. "Thus far, there's nothing to report on that score," Biden said. FBI agent Jeremy Schwartz described the Las Vegas blast as "an isolated incident," adding, "We do not believe that there's a bunch of folks out there supporting this or helping this." (With inputs from agencies)

Tesla Cybertruck explodes outside Trump hotel in Las Vegas, incident being probed as possible terror act

China’s electric vehicle (EV) market has surged to lead the global market, driven by strong domestic demand, government subsidies, and advancements in EV technology.

Report: China accounted for 80% of global EV sales growth in 2024

Just over two months ago, electric vehicle maker Tesla's stock was headed for its third consecutive year of losses in its fifteen years as a public business. However, following a dramatic surge in value over the past seven weeks, the company is now ranked among the top performers for 2024 in the S&P 500 index. Watch in for more details!

Musk's Political Foray Brings Big Gains For Tesla

Beijing, China
Former head of Tesla’s China factory Song Gang joins Chinese renewable energy firm Envision Energy. Tuesday, Envision confirmed Song's appointment, saying Song had assumed the role of Senior Vice President for Integrated Supply Chain and head of the Delivery Division.  
The move came in the wake of a Reuters report last week, which predicted Song would join the company. Envision Energy, a part of Envision Group, is a global integrated smart energy management and green technology solutions provider, engaged in the design, manufacture and delivery of wind turbines and battery storage systems, as well as energy platform and AI solutions.  
A Strategic Move  
Envision’s appointment of Song Gang reflects the growing need for the company to beef up its operational capacity and delivery efficiency as it increases its offerings of clean energy solutions. Song had been playing a crucial role in the operation of Tesla in China, and he helps Enview with his experience managing high-scale manufacturing, and supply chain systems.  
Song oversaw Tesla’s Gigafactory in Shanghai, which largely built it into a cornerstone of global production for Tesla, helping to increase its output and profitability. Envision believes Song’s leadership experience will enable optimisation of its delivery processes and integration of the supply chain.  
Envision's Growth Trajectory  
Now part of a major international expansion, Envision, tied in with China’s and the rest of the world’s move to net zero carbon, has been steadily adding to its reach in the global renewable energy sphere. Along with the gigafactories for advanced batteries, the company has been involved in projects to publish wind turbines and has integrated AI powered solutions in renewable energy management.  
With this strategic hire, Envision is making its intentions clear to further consolidate its position as a forerunner in renewable energy technology by bringing on experts in the EV and battery space from the world class level.  
Industry Impact  
The move follows a shift of talent from high profile companies like Tesla as renewable energy companies fight to recruit from highly sought-after companies in the clean tech sector. Song’s transition underscores the growing interplay between EV manufacturers and renewable energy firms as both sectors drive the global shift towards sustainability.

Envision’s appointment of Song Gang reflects the growing need for the company to beef up its operational capacity and delivery efficiency.

 



Beijing, China Former head of Tesla’s China factory Song Gang joins Chinese renewable energy firm Envision Energy. Tuesday, Envision confirmed Song's appointment, saying Song had assumed the role of Senior Vice President for Integrated Supply Chain and head of the Delivery Division. The move came in the wake of a Reuters report last week, which predicted Song would join the company. Envision Energy, a part of Envision Group, is a global integrated smart energy management and green technology solutions provider, engaged in the design, manufacture and delivery of wind turbines and battery storage systems, as well as energy platform and AI solutions. A Strategic Move Envision’s appointment of Song Gang reflects the growing need for the company to beef up its operational capacity and delivery efficiency as it increases its offerings of clean energy solutions. Song had been playing a crucial role in the operation of Tesla in China, and he helps Enview with his experience managing high-scale manufacturing, and supply chain systems. Song oversaw Tesla’s Gigafactory in Shanghai, which largely built it into a cornerstone of global production for Tesla, helping to increase its output and profitability. Envision believes Song’s leadership experience will enable optimisation of its delivery processes and integration of the supply chain. Envision's Growth Trajectory Now part of a major international expansion, Envision, tied in with China’s and the rest of the world’s move to net zero carbon, has been steadily adding to its reach in the global renewable energy sphere. Along with the gigafactories for advanced batteries, the company has been involved in projects to publish wind turbines and has integrated AI powered solutions in renewable energy management. With this strategic hire, Envision is making its intentions clear to further consolidate its position as a forerunner in renewable energy technology by bringing on experts in the EV and battery space from the world class level. Industry Impact The move follows a shift of talent from high profile companies like Tesla as renewable energy companies fight to recruit from highly sought-after companies in the clean tech sector. Song’s transition underscores the growing interplay between EV manufacturers and renewable energy firms as both sectors drive the global shift towards sustainability.

Former Tesla China factory chief joins Envision Energy as senior executive

Former head of Tesla’s China factory Song Gang joins Chinese renewable energy firm Envision Energy. Tuesday, Envision confirmed Song's appointment, saying Song had assumed the role of Senior Vice President for Integrated Supply Chain and head of the Delivery Division. &nbsp;

The move came in the wake of a Reuters report last week, which predicted Song would join the company. Envision Energy, a part of Envision Group, is a global integrated smart energy management and green technology solutions provider, engaged in the design, manufacture and delivery of wind turbines and battery storage systems, as well as energy platform and AI solutions. &nbsp;

A Strategic Move &nbsp;

Envision’s appointment of Song Gang reflects the growing need for the company to beef up its operational capacity and delivery efficiency as it increases its offerings of clean energy solutions. Song had been playing a crucial role in the operation of Tesla in China, and he helps Enview with his experience managing high-scale manufacturing, and supply chain systems. &nbsp;

Song oversaw Tesla’s Gigafactory in Shanghai, which largely built it into a cornerstone of global production for Tesla, helping to increase its output and profitability. Envision believes Song’s leadership experience will enable optimisation of its delivery processes and integration of the supply chain. &nbsp;

Envision's Growth Trajectory &nbsp;

Now part of a major international expansion, Envision, tied in with China’s and the rest of the world’s move to net zero carbon, has been steadily adding to its reach in the global renewable energy sphere. Along with the gigafactories for advanced batteries, the company has been involved in projects to publish wind turbines and has integrated AI powered solutions in renewable energy management. &nbsp;

With this strategic hire, Envision is making its intentions clear to further consolidate its position as a forerunner in renewable energy technology by bringing on experts in the EV and battery space from the world class level. &nbsp;

Industry Impact &nbsp;

The move follows a shift of talent from high profile companies like Tesla as renewable energy companies fight to recruit from highly sought-after companies in the clean tech sector. Song’s transition underscores the growing interplay between EV manufacturers and renewable energy firms as both sectors drive the global shift towards sustainability.

Former head of Tesla’s China factory Song Gang joins Chinese renewable energy firm Envision Energy. Tuesday, Envision confirmed Song's appointment, saying Song had assumed the role of Senior Vice President for Integrated Supply Chain and head of the Delivery Division.

Former head of Tesla’s China factory Song Gang joins Chinese renewable energy firm Envision Energy. Tuesday, Envision confirmed Song's appointment, saying Song had assumed the role of Senior Vice President for Integrated Supply Chain and head of the Delivery Division. The move came in the wake of a Reuters report last week, which predicted Song would join the company. Envision Energy, a part of Envision Group, is a global integrated smart energy management and green technology solutions provider, engaged in the design, manufacture and delivery of wind turbines and battery storage systems, as well as energy platform and AI solutions. A Strategic Move Envision’s appointment of Song Gang reflects the growing need for the company to beef up its operational capacity and delivery efficiency as it increases its offerings of clean energy solutions. Song had been playing a crucial role in the operation of Tesla in China, and he helps Enview with his experience managing high-scale manufacturing, and supply chain systems. Song oversaw Tesla’s Gigafactory in Shanghai, which largely built it into a cornerstone of global production for Tesla, helping to increase its output and profitability. Envision believes Song’s leadership experience will enable optimisation of its delivery processes and integration of the supply chain. Envision's Growth Trajectory Now part of a major international expansion, Envision, tied in with China’s and the rest of the world’s move to net zero carbon, has been steadily adding to its reach in the global renewable energy sphere. Along with the gigafactories for advanced batteries, the company has been involved in projects to publish wind turbines and has integrated AI powered solutions in renewable energy management. With this strategic hire, Envision is making its intentions clear to further consolidate its position as a forerunner in renewable energy technology by bringing on experts in the EV and battery space from the world class level. Industry Impact The move follows a shift of talent from high profile companies like Tesla as renewable energy companies fight to recruit from highly sought-after companies in the clean tech sector. Song’s transition underscores the growing interplay between EV manufacturers and renewable energy firms as both sectors drive the global shift towards sustainability.

Elon Musk, the CEO of SpaceX and Tesla has reached a net worth of $486 billion at the age of 53, surpassing Jeff Bezos and Mark Zuckerberg combined, according to the Bloomberg Billionaires Index.

Musk recently invested $277 million in the campaign of Republican Donald Trump which quickly turned to $224 billion in just 43 days since the US elections&nbsp;in November.

Musk’s net worth is almost double that of Jeff Bezos, the second-richest person and founder of Amazon, who is currently worth $250 billion. While Meta CEO Mark Zuckerberg is the third richest with $219 billion.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/elon-musk-becomes-worlds-first-person-to-reach-net-worth-of-400bn-783382">Elon Musk becomes world's first person to reach net worth of $400bn</a>

Musk, the wealthiest person in the world, has a 13 per cent stake in Tesla, the electric car company, which soared from $242 on November 5 to $479.86 on Tuesday (Dec 17). On the same day, Musk’s worth increased by $12 billion, making his current fortunes more than the gross domestic product of Bangladesh, Vietnam and the Philippines.

It is expected that Musk’s close relations with President-elect Trump will benefit Tesla shareholders gain increased profits from federal policies that favour electric cars and automated driving.

Apart from Tesla, Musk has a 42 per cent stake in SpaceX, a private space exploration company, which is valued at $350 billion, according to Bloomberg News. The company’s valuation has doubled within a year, making it the world’s most valuable startup.

Also read |&nbsp;<a href="https://www.wionews.com/world/nigel-farage-courts-musk-as-reform-uk-party-eyes-central-role-in-countrys-politics-784907">Nigel Farage courts Musk as Reform UK party eyes central role in country’s politics</a>

SpaceX has an extensive network of Starlink satellites and undertakes space missions to deliver supplies to NASA astronauts aboard the International Space Station via its Dragon 2 spacecraft along with providing private spaceflights.

Musk also founded xAI in 2023, an artificial intelligence firm, which further increased his fortunes. The company, which is a competitor of OpenAI, is valued at $50 billion, $25 billion of which is estimated to be Musk’s stake.

Musk also owns the social media platform X, a tunnel construction firm Boring Company, and the brain implant startup Neuralink. He is also a longtime investor in cryptocurrencies.

Watch |&nbsp;Elon Musk Unveils Ambitious Vision For Austin Texas, Wants To Turn HQ Into A Texas City

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Recently he was appointed to lead the new Department of Government Efficiency by Trump, which promised to cut $2 trillion from the federal budget.

(With inputs from agencies)

Elon Musk, the CEO of SpaceX and Tesla has reached a net worth of $486 billion at the age of 53, surpassing Jeff Bezos and Mark Zuckerberg combined, according to the Bloomberg Billionaires Index.

Elon Musk, the CEO of SpaceX and Tesla has reached a net worth of $486 billion at the age of 53, surpassing Jeff Bezos and Mark Zuckerberg combined, according to the Bloomberg Billionaires Index. Musk recently invested $277 million in the campaign of Republican Donald Trump which quickly turned to $224 billion in just 43 days since the US elections in November. Musk’s net worth is almost double that of Jeff Bezos, the second-richest person and founder of Amazon, who is currently worth $250 billion. While Meta CEO Mark Zuckerberg is the third richest with $219 billion. Also read | Elon Musk becomes world's first person to reach net worth of $400bn Musk, the wealthiest person in the world, has a 13 per cent stake in Tesla, the electric car company, which soared from $242 on November 5 to $479.86 on Tuesday (Dec 17). On the same day, Musk’s worth increased by $12 billion, making his current fortunes more than the gross domestic product of Bangladesh, Vietnam and the Philippines. It is expected that Musk’s close relations with President-elect Trump will benefit Tesla shareholders gain increased profits from federal policies that favour electric cars and automated driving. Apart from Tesla, Musk has a 42 per cent stake in SpaceX, a private space exploration company, which is valued at $350 billion, according to Bloomberg News. The company’s valuation has doubled within a year, making it the world’s most valuable startup. Also read | Nigel Farage courts Musk as Reform UK party eyes central role in country’s politics SpaceX has an extensive network of Starlink satellites and undertakes space missions to deliver supplies to NASA astronauts aboard the International Space Station via its Dragon 2 spacecraft along with providing private spaceflights. Musk also founded xAI in 2023, an artificial intelligence firm, which further increased his fortunes. The company, which is a competitor of OpenAI, is valued at $50 billion, $25 billion of which is estimated to be Musk’s stake. Musk also owns the social media platform X, a tunnel construction firm Boring Company, and the brain implant startup Neuralink. He is also a longtime investor in cryptocurrencies. Watch | Elon Musk Unveils Ambitious Vision For Austin Texas, Wants To Turn HQ Into A Texas City × Recently he was appointed to lead the new Department of Government Efficiency by Trump, which promised to cut $2 trillion from the federal budget. (With inputs from agencies)

Elon Musk surpasses the net worth of Bezos and Zuckerberg combined

Honda and Nissan, Japan's second and third-largest automakers, are in talks to deepen their partnership. The discussions, reported by Nikkei, aim to create a formidable domestic rival to Toyota and other global automakers. With a net worth of $54 billion, the combined entity would become the third-largest global auto group by vehicle sales, surpassing both Ford and General Motors.&nbsp;

This potential deal comes when both companies face increased pressure from the electric vehicle price war and are looking for ways to reduce costs and accelerate development. Shares of Nissan surged more than 22 per cent following the report, while Honda's stock declined by 2.3 per cent. If the merger were to happen, the combined group would exceed the previous record merger between Fiat Chrysler and PSA group in 2021 to create Stellantis.

The talks also include a possible partnership with Mitsubishi Motors, in which Nissan holds a 24 per cent stake. This move could reshape the Japanese automotive landscape and provide a new axis of competition against Toyota, which has long dominated the domestic market. In addition, Honda and Nissan are exploring ways to collaborate on key components for electric vehicles and artificial intelligence in automotive software platforms.

Nissan, in particular, is under financial pressure, having announced plans to cut 9,000 jobs and reduce its global production capacity by 20 per cent. While the talks are still ongoing and no official deal has been announced.

Honda and Nissan, Japan's second and third-largest automakers, are in talks to deepen their partnership. The discussions, reported by Nikkei, aim to create a formidable domestic rival to Toyota and other global automakers.

Honda and Nissan, Japan's second and third-largest automakers, are in talks to deepen their partnership. The discussions, reported by Nikkei, aim to create a formidable domestic rival to Toyota and other global automakers. With a net worth of $54 billion, the combined entity would become the third-largest global auto group by vehicle sales, surpassing both Ford and General Motors. This potential deal comes when both companies face increased pressure from the electric vehicle price war and are looking for ways to reduce costs and accelerate development. Shares of Nissan surged more than 22 per cent following the report, while Honda's stock declined by 2.3 per cent. If the merger were to happen, the combined group would exceed the previous record merger between Fiat Chrysler and PSA group in 2021 to create Stellantis. The talks also include a possible partnership with Mitsubishi Motors, in which Nissan holds a 24 per cent stake. This move could reshape the Japanese automotive landscape and provide a new axis of competition against Toyota, which has long dominated the domestic market. In addition, Honda and Nissan are exploring ways to collaborate on key components for electric vehicles and artificial intelligence in automotive software platforms. Nissan, in particular, is under financial pressure, having announced plans to cut 9,000 jobs and reduce its global production capacity by 20 per cent. While the talks are still ongoing and no official deal has been announced.

Japanese automakers Honda & Nissan explore alliance

New Delhi
Honda and Nissan, Japan's second and third-largest automakers, are in talks to deepen their partnership. The discussions, reported by Nikkei, aim to create a formidable domestic rival to Toyota and other global automakers. With a net worth of $54 billion, the combined entity would become the third-largest global auto group by vehicle sales, surpassing both Ford and General Motors. 
This potential deal comes when both companies face increased pressure from the electric vehicle price war and are looking for ways to reduce costs and accelerate development. Shares of Nissan surged more than 22 per cent following the report, while Honda's stock declined by 2.3 per cent. If the merger were to happen, the combined group would exceed the previous record merger between Fiat Chrysler and PSA group in 2021 to create Stellantis.
The talks also include a possible partnership with Mitsubishi Motors, in which Nissan holds a 24 per cent stake. This move could reshape the Japanese automotive landscape and provide a new axis of competition against Toyota, which has long dominated the domestic market. In addition, Honda and Nissan are exploring ways to collaborate on key components for electric vehicles and artificial intelligence in automotive software platforms.
Nissan, in particular, is under financial pressure, having announced plans to cut 9,000 jobs and reduce its global production capacity by 20 per cent. While the talks are still ongoing and no official deal has been announced.

This move could reshape the Japanese automotive landscape and provide a new axis of competition against Toyota, which has long dominated the domestic market. In addition, Honda and Nissan are exploring ways to collaborate on key components for electric vehicles and artificial intelligence in automotive software platforms.



New Delhi Honda and Nissan, Japan's second and third-largest automakers, are in talks to deepen their partnership. The discussions, reported by Nikkei, aim to create a formidable domestic rival to Toyota and other global automakers. With a net worth of $54 billion, the combined entity would become the third-largest global auto group by vehicle sales, surpassing both Ford and General Motors. This potential deal comes when both companies face increased pressure from the electric vehicle price war and are looking for ways to reduce costs and accelerate development. Shares of Nissan surged more than 22 per cent following the report, while Honda's stock declined by 2.3 per cent. If the merger were to happen, the combined group would exceed the previous record merger between Fiat Chrysler and PSA group in 2021 to create Stellantis. The talks also include a possible partnership with Mitsubishi Motors, in which Nissan holds a 24 per cent stake. This move could reshape the Japanese automotive landscape and provide a new axis of competition against Toyota, which has long dominated the domestic market. In addition, Honda and Nissan are exploring ways to collaborate on key components for electric vehicles and artificial intelligence in automotive software platforms. Nissan, in particular, is under financial pressure, having announced plans to cut 9,000 jobs and reduce its global production capacity by 20 per cent. While the talks are still ongoing and no official deal has been announced.

Elon Musk Is Now Officially Richer Than Emperors Of History. With A Net Worth Of Over 439 Billion Dollars According To Bloomberg Billionaire Index, Musk Has Surpassed Mansa Musa — The 14th-century Emperor Of Mali, Long Considered The Wealthiest Man To Have Ever Lived.

Elon Musk Tops Bloomberg Billionaire Index With $439 BN Fortune | WION Business Watch | World News

Tesla's stock blew past its earlier high of USD 414.50, set back in more than three years, to reach a record high of USD 415. The milestone came as the EV maker enjoyed its post-election rally on investor optimism about the company's growth prospects under a new U.S. administration. &nbsp;

The rally comes after Tesla's share price has risen by almost 65 percent since the US presidential elections on Nov. 5 as markets await benefits from CEO Elon Musk's close relationship with president-elect Donald Trump. According to investors, Tesla likewise stands a chance to benefit from green energy and EV development friendly policies which would strengthen its market position. &nbsp;

Also among the drivers of the stock's ascent was Tesla's performance in China. Tesla China said Tuesday it sold 21,900 electric vehicles in the first week of December, its best weekly sales during the fourth quarter in the world's second largest automotive market. Tesla’s presence in China, a vital market for the company’s global expansion, is already growing apace, the strong sales show. &nbsp;

Tesla shares rose 3.1%, trading at USD 413.26 by the close of Wednesday's trading, just shy of the intraday record. &nbsp;

The achievement illustrates Tesla’s strength to survive a competitive commercial market context and regulatory landcape, and its ability to inspire investor’s trust. But also puts the EV giant in good stead for perhaps gains to come as governments everywhere push to roll out electric vehicles to combat climate change. &nbsp;

That's a land mark for Tesla's record share price but there is a warning from analysts: Keeping such valuations is a tall order and will take continued innovation and delivery on growth targets. Hits by traditional automakers and rising EV startups, as well as problems of scaling production and keeping pace with demand in critical markets, threaten to overshadow gains for the company. &nbsp;

Tesla's rise reflects broader market trends favoring clean energy and technology-focused companies, making it a standout performer amid a shifting automotive landscape. With its latest achievement, Tesla solidifies its status as a leader in the EV revolution, drawing attention from investors and competitors alike.

Tesla's stock blew past its earlier high of USD 414.50, set back in more than three years, to reach a record high of USD 415. The milestone came as the EV maker enjoyed its post-election rally on investor optimism about the company's growth prospects under a new U.

Tesla's stock blew past its earlier high of USD 414.50, set back in more than three years, to reach a record high of USD 415. The milestone came as the EV maker enjoyed its post-election rally on investor optimism about the company's growth prospects under a new U.S. administration. The rally comes after Tesla's share price has risen by almost 65 percent since the US presidential elections on Nov. 5 as markets await benefits from CEO Elon Musk's close relationship with president-elect Donald Trump. According to investors, Tesla likewise stands a chance to benefit from green energy and EV development friendly policies which would strengthen its market position. Also among the drivers of the stock's ascent was Tesla's performance in China. Tesla China said Tuesday it sold 21,900 electric vehicles in the first week of December, its best weekly sales during the fourth quarter in the world's second largest automotive market. Tesla’s presence in China, a vital market for the company’s global expansion, is already growing apace, the strong sales show. Tesla shares rose 3.1%, trading at USD 413.26 by the close of Wednesday's trading, just shy of the intraday record. The achievement illustrates Tesla’s strength to survive a competitive commercial market context and regulatory landcape, and its ability to inspire investor’s trust. But also puts the EV giant in good stead for perhaps gains to come as governments everywhere push to roll out electric vehicles to combat climate change. That's a land mark for Tesla's record share price but there is a warning from analysts: Keeping such valuations is a tall order and will take continued innovation and delivery on growth targets. Hits by traditional automakers and rising EV startups, as well as problems of scaling production and keeping pace with demand in critical markets, threaten to overshadow gains for the company. Tesla's rise reflects broader market trends favoring clean energy and technology-focused companies, making it a standout performer amid a shifting automotive landscape. With its latest achievement, Tesla solidifies its status as a leader in the EV revolution, drawing attention from investors and competitors alike.

Tesla hits record high as shares soar to USD 415

In China, Tesla has had a solid launch to December, announcing that it sold 21,900 electric vehicles in the first week of the month, its best weekly sales for the fourth quarter of 2024. The figures, tweeted by Tesla China on Wednesday, underline the automaker's drive to keep up its momentum in the world's largest EV market. &nbsp;

Tesla's stellar performance in November, when it logged its best month of the year in China with sales of more than 73,000 vehicles, came after the California automaker halted all production at one of its Chinese plants over a battery outcry by the Bergischen Provincial Council in June. In particular, the Model Y has been a big hit with Chinese buyers, with the electric vehicle eclipsing Tesla’s own Roadster as the market’s top passenger car sold 556,000 units last year. &nbsp;

Tesla's success in December comes as the company is cranking up year end incentives in an already fierce price war between it and the likes of Chinese EV giant BYD. In recent weeks, Tesla offered a limited time 10,000 yuan (USD 1,375.89) discount on outstanding loans for who can buy its Model Y — a smart ploy to lure in buyers, and counteract mounting competition. &nbsp;

Tesla is reliant on China as an important market, feeding into the company’s global sales and revenue. But local automakers like BYD have started adopting aggressive cost cutting practices that have started to pressure the company to match escalating margins. In particular, BYD has made itself a formidable rival with a wide range of affordable and technologically advanced electric vehicles. &nbsp;

Whilst Tesla faces growing competition, Tesla’s capability to sell record amount of vehicles in a week shows not only how Tesla’s brand is getting traction, but how the intake of the vehicles is increasing in China. Analysts predict that the company's ongoing promotions, as well as its well cemented position in the market as a performance and innovator, will allow it to weather the fall and remain where it is within the market at the end of the year. &nbsp;

With the flow of EVs happening the way it’s doing, Tesla’s performance in China will be a definite barometer of its global performance. The company’s strategic initiatives, coupled with strong product demand, suggest it is well-positioned to navigate the challenges of an increasingly competitive industry.

In China, Tesla has had a solid launch to December, announcing that it sold 21,900 electric vehicles in the first week of the month, its best weekly sales for the fourth quarter of 2024.

In China, Tesla has had a solid launch to December, announcing that it sold 21,900 electric vehicles in the first week of the month, its best weekly sales for the fourth quarter of 2024. The figures, tweeted by Tesla China on Wednesday, underline the automaker's drive to keep up its momentum in the world's largest EV market. Tesla's stellar performance in November, when it logged its best month of the year in China with sales of more than 73,000 vehicles, came after the California automaker halted all production at one of its Chinese plants over a battery outcry by the Bergischen Provincial Council in June. In particular, the Model Y has been a big hit with Chinese buyers, with the electric vehicle eclipsing Tesla’s own Roadster as the market’s top passenger car sold 556,000 units last year. Tesla's success in December comes as the company is cranking up year end incentives in an already fierce price war between it and the likes of Chinese EV giant BYD. In recent weeks, Tesla offered a limited time 10,000 yuan (USD 1,375.89) discount on outstanding loans for who can buy its Model Y — a smart ploy to lure in buyers, and counteract mounting competition. Tesla is reliant on China as an important market, feeding into the company’s global sales and revenue. But local automakers like BYD have started adopting aggressive cost cutting practices that have started to pressure the company to match escalating margins. In particular, BYD has made itself a formidable rival with a wide range of affordable and technologically advanced electric vehicles. Whilst Tesla faces growing competition, Tesla’s capability to sell record amount of vehicles in a week shows not only how Tesla’s brand is getting traction, but how the intake of the vehicles is increasing in China. Analysts predict that the company's ongoing promotions, as well as its well cemented position in the market as a performance and innovator, will allow it to weather the fall and remain where it is within the market at the end of the year. With the flow of EVs happening the way it’s doing, Tesla’s performance in China will be a definite barometer of its global performance. The company’s strategic initiatives, coupled with strong product demand, suggest it is well-positioned to navigate the challenges of an increasingly competitive industry.

Tesla reports strong December start in China with 21,900 EVs sold in a week

Deutsche Bank, in a note following a meeting with Tesla Head of Investor Relations Travis Axelrod, says that Tesla plans to launch its long-awaited robotaxi service next year, which will begin with a company owned fleet using human teleoperators as a safety backup. &nbsp;

The ride-hailing service will initially target California and Texas, and will use an in-house built ride hailing app. While Tesla has previously stated intentions to roll out its robotaxi, the confirmation of presence of teleoperator presence indicates the company taking a slow and cautious approach to safety and redundancy in the initial stages. &nbsp;

"The Deutsche Bank note stated that 'Tesla believes (given no real alternative at this point) this would be reasonable to assume some teleoperator would be required at the very least initially for safety and redundancy reasons.' " &nbsp;

According to the bank's update, Tesla is also committed to launching its highly-awaited low-cost vehicle in the first half of 2024 followed by additional models later in the year. &nbsp;

It's a big step forward in Tesla’s ambitions to be in the race for autonomous driving, a rapidly evolving space which also includes rivals Waymo and Cruise. Tesla’s CEO Elon Musk has previously described the robotaxi as a cornerstone to the company’s future with a revolutionary impact on urban mobility. &nbsp;

The updates prompted Deutsche Bank to boost its price target for Tesla shares to USD 370 from USD 295 on optimism that the company will continue to grow. At USD 386.04, Tesla shares were slightly lower on Monday. &nbsp;

It comes as autonomous driving technology is under greater regulatory scrutiny following a spate of incidents involving self-driving vehicles. Including human teleoperators in the robotaxi fleet will help reduce safety concerns and build consumer trust in Tesla's autonomous systems. &nbsp;

As Tesla works toward commercialisation, its approach may influence broader industry strategies and regulatory frameworks for autonomous ride-hailing. The success of this rollout could play a pivotal role in shaping Tesla’s long-term position as a leader in autonomous mobility solutions.

Deutsche Bank, in a note following a meeting with Tesla Head of Investor Relations Travis Axelrod, says that Tesla plans to launch its long-awaited robotaxi service next year, which will begin with a company owned fleet using human teleoperators as a safety backup.

Deutsche Bank, in a note following a meeting with Tesla Head of Investor Relations Travis Axelrod, says that Tesla plans to launch its long-awaited robotaxi service next year, which will begin with a company owned fleet using human teleoperators as a safety backup. The ride-hailing service will initially target California and Texas, and will use an in-house built ride hailing app. While Tesla has previously stated intentions to roll out its robotaxi, the confirmation of presence of teleoperator presence indicates the company taking a slow and cautious approach to safety and redundancy in the initial stages. "The Deutsche Bank note stated that 'Tesla believes (given no real alternative at this point) this would be reasonable to assume some teleoperator would be required at the very least initially for safety and redundancy reasons.' " According to the bank's update, Tesla is also committed to launching its highly-awaited low-cost vehicle in the first half of 2024 followed by additional models later in the year. It's a big step forward in Tesla’s ambitions to be in the race for autonomous driving, a rapidly evolving space which also includes rivals Waymo and Cruise. Tesla’s CEO Elon Musk has previously described the robotaxi as a cornerstone to the company’s future with a revolutionary impact on urban mobility. The updates prompted Deutsche Bank to boost its price target for Tesla shares to USD 370 from USD 295 on optimism that the company will continue to grow. At USD 386.04, Tesla shares were slightly lower on Monday. It comes as autonomous driving technology is under greater regulatory scrutiny following a spate of incidents involving self-driving vehicles. Including human teleoperators in the robotaxi fleet will help reduce safety concerns and build consumer trust in Tesla's autonomous systems. As Tesla works toward commercialisation, its approach may influence broader industry strategies and regulatory frameworks for autonomous ride-hailing. The success of this rollout could play a pivotal role in shaping Tesla’s long-term position as a leader in autonomous mobility solutions.

Tesla eyes robotaxi service launch with human backup in 2024, says Deutsche Bank

A U.S. judge has rejected Elon Musk's passive massive salary package at Tesla of $55.8 billion. The judge upheld her decision to reject Musk's package even though shareholders of the company had voted to reinstate it six months ago. Watch in for more details!

USA News: Tesla CEO Elon Musk’s $56bn Tesla Pay Package Rejected Again By US Judge

USA News: Elon Musk’s Multibillion-Dollar Tesla Pay Package Again Blocked By A Judge | World News

Despite a vote by Tesla shareholders in June to reinstate his USD 56 billion compensation package, a Delaware court gave Tesla CEO Elon Musk another defeat Thursday, again ruling against the award of the payment to him. Chancellor Kathaleen McCormick of the Delaware Court of Chancery on Monday upheld her earlier ruling in January that the package was excessive and improperly approved. &nbsp;

The ruling gives investors more doubts about how long Musk, the world's most valuable carmaker, will be at the helm of Tesla. Musk criticised the decision, which was made in a post on X where he flatly wrote, “Shareholders should control company votes, not judges.” Tesla followed suit, saying the ruling was 'wrong' and the company would appeal to the Delaware Supreme Court, which may be earlier than this, 'as soon as an order is entered.' &nbsp;

The argument pivotally revolves around a 2018 compensation package that gave Musk stock options, worth billions, that would essentially pay him handsomely — if Tesla could hit a series of aggressive performance and valuation targets in less than four years. The package was once worth USD 56 billion, but has grown to about USD 101 billion based on Tesla stock soaring in the wake of the November 2020 U.S. presidential election. &nbsp;

In the case, McCormick ordered that the subsequent shareholder vote by Tesla to reinstate the package doesn't mean the original decision is overturned, saying that Tesla's proxy statements about the vote were 'material misstatements.' In allowing parties to change judgments by making up new facts, she said that lawsuits would become endless. &nbsp;

Musk’s leadership is important to Tesla, the company argues, as he is responsible for spearheading vital innovations. But critics insist that Musk was overly involved in the compensation negotiations. &nbsp;

The rejection has caused Tesla’s after-hours stock trading to drop 1.4 percent. A Tesla investor, Gary Black, managing partner of The Future Fund, expected an appeal, saying the Delaware Supreme Court might take a more pragmatic approach. &nbsp;

This ruling comes as Musk juggles his leadership roles at Tesla, SpaceX, and other ventures, alongside a new advisory role under President-elect Donald Trump. Tasked with co-leading a Department of Government Efficiency to slash federal spending, Musk’s role is informal, allowing him to retain his corporate positions. &nbsp;

The legal battle over Musk’s compensation is expected to continue for months, potentially reshaping governance and executive pay at Tesla. &nbsp;

Despite a vote by Tesla shareholders in June to reinstate his USD 56 billion compensation package, a Delaware court gave Tesla CEO Elon Musk another defeat Thursday, again ruling against the award of the payment to him.

Despite a vote by Tesla shareholders in June to reinstate his USD 56 billion compensation package, a Delaware court gave Tesla CEO Elon Musk another defeat Thursday, again ruling against the award of the payment to him. Chancellor Kathaleen McCormick of the Delaware Court of Chancery on Monday upheld her earlier ruling in January that the package was excessive and improperly approved. The ruling gives investors more doubts about how long Musk, the world's most valuable carmaker, will be at the helm of Tesla. Musk criticised the decision, which was made in a post on X where he flatly wrote, “Shareholders should control company votes, not judges.” Tesla followed suit, saying the ruling was 'wrong' and the company would appeal to the Delaware Supreme Court, which may be earlier than this, 'as soon as an order is entered.' The argument pivotally revolves around a 2018 compensation package that gave Musk stock options, worth billions, that would essentially pay him handsomely — if Tesla could hit a series of aggressive performance and valuation targets in less than four years. The package was once worth USD 56 billion, but has grown to about USD 101 billion based on Tesla stock soaring in the wake of the November 2020 U.S. presidential election. In the case, McCormick ordered that the subsequent shareholder vote by Tesla to reinstate the package doesn't mean the original decision is overturned, saying that Tesla's proxy statements about the vote were 'material misstatements.' In allowing parties to change judgments by making up new facts, she said that lawsuits would become endless. Musk’s leadership is important to Tesla, the company argues, as he is responsible for spearheading vital innovations. But critics insist that Musk was overly involved in the compensation negotiations. The rejection has caused Tesla’s after-hours stock trading to drop 1.4 percent. A Tesla investor, Gary Black, managing partner of The Future Fund, expected an appeal, saying the Delaware Supreme Court might take a more pragmatic approach. This ruling comes as Musk juggles his leadership roles at Tesla, SpaceX, and other ventures, alongside a new advisory role under President-elect Donald Trump. Tasked with co-leading a Department of Government Efficiency to slash federal spending, Musk’s role is informal, allowing him to retain his corporate positions. The legal battle over Musk’s compensation is expected to continue for months, potentially reshaping governance and executive pay at Tesla.

Delaware Judge rejects Musk's USD 56 billion Tesla pay package again

A Delaware judge has once again rejected Elon Musk's record-breaking Tesla compensation package of 55.8 billion dollars. This threatens to seize billions of dollars from the wealthiest man in the world and a close associate of Donald Trump.

On Monday, judge Kathaleen St. Jude McCormick of the Delaware Chancery Court found that Musk had an inappropriate influence on Tesla's board when the company accepted his proposal in 2018.

She had previously deemed the compensation package exorbitant. She had refused to change her mind in January, despite shareholder support for the proposal and Musk's requests that she reconsider.

A significant portion of Musk's fortune might be eroded by McCormick's decision to nullify the highest-ever compensation plan for a US business leader.

The price of Tesla went up as investors gambled on the billionaire's tight relationship with Trump. But even without the payoff, he is still the wealthiest person in the world.

McCormick, also known as Judge Katie, in her 101-page decision that includes references to both Shakespeare and Star Trek noted,

"There were undoubtedly a range of healthy amounts that the board could have decided to pay musk. Instead, the board capitulated to Musk's terms."

She said she would "boldly go where no man has gone before" to answer the question of whether Musk controls Tesla, quoting the classic 1960s science fiction franchise.

McCormick added, "Once more unto the breach, dear friends, once more," invoking Shakespeare's warrior king.

A combination of a surge in Tesla stock price after the election and fresh investment in his AI business caused his net worth to soar to an all-time high last month. His latest net worth tops the previous record of 340.4 billion dollars in November 2021.

If McCormick's ruling is upheld, the Tesla board would be forced to come up with an alternative pay plan.

However, the board announced its intention to file an appeal with the Supreme Court of Delaware soon after Monday's finding. It may take months for that procedure to finish.

The highest court in the state is required to consider appeals of judgements made by subordinate courts, unlike the US Supreme Court which gets to decide which cases to hear.

(With inputs from the agencies)

A Delaware judge has once again rejected Elon Musk's record-breaking Tesla compensation package of 55.8 billion dollars. This threatens to seize billions of dollars from the wealthiest man in the world and a close associate of Donald Trump.

A Delaware judge has once again rejected Elon Musk's record-breaking Tesla compensation package of 55.8 billion dollars. This threatens to seize billions of dollars from the wealthiest man in the world and a close associate of Donald Trump. On Monday, judge Kathaleen St. Jude McCormick of the Delaware Chancery Court found that Musk had an inappropriate influence on Tesla's board when the company accepted his proposal in 2018. She had previously deemed the compensation package exorbitant. She had refused to change her mind in January, despite shareholder support for the proposal and Musk's requests that she reconsider. A significant portion of Musk's fortune might be eroded by McCormick's decision to nullify the highest-ever compensation plan for a US business leader. The price of Tesla went up as investors gambled on the billionaire's tight relationship with Trump. But even without the payoff, he is still the wealthiest person in the world. McCormick, also known as Judge Katie, in her 101-page decision that includes references to both Shakespeare and Star Trek noted, "There were undoubtedly a range of healthy amounts that the board could have decided to pay musk. Instead, the board capitulated to Musk's terms." She said she would "boldly go where no man has gone before" to answer the question of whether Musk controls Tesla, quoting the classic 1960s science fiction franchise. McCormick added, "Once more unto the breach, dear friends, once more," invoking Shakespeare's warrior king. A combination of a surge in Tesla stock price after the election and fresh investment in his AI business caused his net worth to soar to an all-time high last month. His latest net worth tops the previous record of 340.4 billion dollars in November 2021. If McCormick's ruling is upheld, the Tesla board would be forced to come up with an alternative pay plan. However, the board announced its intention to file an appeal with the Supreme Court of Delaware soon after Monday's finding. It may take months for that procedure to finish. The highest court in the state is required to consider appeals of judgements made by subordinate courts, unlike the US Supreme Court which gets to decide which cases to hear. (With inputs from the agencies)

Musk's multibillion-dollar Tesla payout gutted by Delaware Judge

Australian government names Tesla Chair Robyn Denholm to lead critical review of the nation's research and development (R&amp;D) performance. The idea is to develop a more cohesive and concentrated R&amp;D, along with the alliance between research establishments and the industry for economic enchancment. &nbsp;

Along with three other high profile academics and business leaders, Denholm will assess Australia’s R&amp;D strategy and formulate solutions to a decade of decline. In addition, the review will comment on the state of the nation’s exploitation of resource industries as part of the heavy reliance of the country on this drive, and its challenges in economic diversification. &nbsp;

Industry and Science Minister Ed Husic said it was been almost 20 years since we've taken a hard look at our R&amp;D performance. "Our aim with this review is to offer an evidence based path to a stronger economic growth." &nbsp;

Despite being one of world’s most wealthy nations, Australia is far behind in economic complexity, ranked 93rd out of 133 countries in a Harvard University index. The index, which looks at how diverse and sophisticated a nation’s exports are, puts Australia behind Uganda and Laos. &nbsp;

Denholm's experience in his role brings great knowledge. She had senior positions at Juniper Networks and Australian telecommunications giant Telstra before stepping into the seat of chair at Tesla. In 2022, Forbes placed her on its list of the 80 most powerful women in the world. &nbsp;

Denholm did not comment on her relationship with Tesla CEO Elon Musk who has been vocal about his opposition to Australia's policies on technology companies, at the press conference announcing her appointment. Recently, Musk criticised the Australian Labor government for its stance on subjects such as the banning of use of social media for minors. &nbsp;

Redirecting focus, Denholm said: "Today is all about the R&amp;D review that the government has out announced." &nbsp;

The panel's findings are expected to shape Australia's future economic strategy, addressing longstanding concerns about innovation, diversification, and global competitiveness. The review underscores the government's commitment to revitalising R&amp;D as a cornerstone for sustainable growth.

Australian government names Tesla Chair Robyn Denholm to lead critical review of the nation's research and development (R&D) performance. The idea is to develop a more cohesive and concentrated R&D, along with the alliance between research establishments and the industry for economic enchancment.

Australian government names Tesla Chair Robyn Denholm to lead critical review of the nation's research and development (R&D) performance. The idea is to develop a more cohesive and concentrated R&D, along with the alliance between research establishments and the industry for economic enchancment. Along with three other high profile academics and business leaders, Denholm will assess Australia’s R&D strategy and formulate solutions to a decade of decline. In addition, the review will comment on the state of the nation’s exploitation of resource industries as part of the heavy reliance of the country on this drive, and its challenges in economic diversification. Industry and Science Minister Ed Husic said it was been almost 20 years since we've taken a hard look at our R&D performance. "Our aim with this review is to offer an evidence based path to a stronger economic growth." Despite being one of world’s most wealthy nations, Australia is far behind in economic complexity, ranked 93rd out of 133 countries in a Harvard University index. The index, which looks at how diverse and sophisticated a nation’s exports are, puts Australia behind Uganda and Laos. Denholm's experience in his role brings great knowledge. She had senior positions at Juniper Networks and Australian telecommunications giant Telstra before stepping into the seat of chair at Tesla. In 2022, Forbes placed her on its list of the 80 most powerful women in the world. Denholm did not comment on her relationship with Tesla CEO Elon Musk who has been vocal about his opposition to Australia's policies on technology companies, at the press conference announcing her appointment. Recently, Musk criticised the Australian Labor government for its stance on subjects such as the banning of use of social media for minors. Redirecting focus, Denholm said: "Today is all about the R&D review that the government has out announced." The panel's findings are expected to shape Australia's future economic strategy, addressing longstanding concerns about innovation, diversification, and global competitiveness. The review underscores the government's commitment to revitalising R&D as a cornerstone for sustainable growth.

Australia appoints Tesla chair Robyn Denholm to lead R&D review

Tesla's stock jumped more than 5 percent on Monday after a Bloomberg News report that President-elect Donald Trump's transition team is considering federal regulations for autonomous vehicles. The news follows Trump appointing Tesla CEO Elon Musk to lead his incoming administration's government efficiency team as co head. Trump's team is already in talks with transportation policy leaders to create a unified federal regulatory framework for self-driving vehicles, Bloomberg sources say. &nbsp;

Musk has been critical of the existing approvals process for autonomous vehicles on a state-by-state basis, and sees this as fitting well into the problem of road safety, he says. Tesla’s futuristic two-seat "Cybercab" robotaxi, without a steering wheel or pedals, announced in May and planned for production in 2026, came less than two weeks after Musk’s comments. &nbsp;

Mamta Valechha, an analyst at Quilter Cheviot, said a streamlined federal regulatory framework could accelerate Tesla’s Full Self Driving (FSD) testing and deployment. But Valechha said regulatory hurdles aren't the biggest hurdle for Tesla. For over four years the company has been developing its FSD software – which has not yet been eliminated and is still under the control of driver. &nbsp;

The U.S. auto safety regulators are investigating Tesla's FSD after incidents, including reported collisions involving four vehicles equipped with the company's software. In 2023, one of those crashes was fatal, a factor that has prompted concerns regarding the safety and readiness of the technology for wide spread use. &nbsp;

Tesla’s stock has fattened nearly 28 percent since November 5, catapulting the company over the USD 1 trillion valuation pile. While there are plenty of reasons for debate, investors seem to be taking hope that Musk's proximity to the White House might help facilitate regulatory changes favorable to self driving technology. &nbsp;

By these gains, however, the stock’s rise has driven its price to earnings ratio way past traditional automakers such as Ford and General Motors and even tech giants like Apple and Nvidia. Analysts caution that while federal regulations could provide clarity, Tesla’s FSD technology and safety record remain critical factors for its future success. &nbsp;

The potential regulatory shift represents a significant milestone for the autonomous vehicle industry, signaling increased federal interest in shaping the future of self-driving technology.

Tesla's stock jumped more than 5 percent on Monday after a Bloomberg News report that President-elect Donald Trump's transition team is considering federal regulations for autonomous vehicles.

Tesla's stock jumped more than 5 percent on Monday after a Bloomberg News report that President-elect Donald Trump's transition team is considering federal regulations for autonomous vehicles. The news follows Trump appointing Tesla CEO Elon Musk to lead his incoming administration's government efficiency team as co head. Trump's team is already in talks with transportation policy leaders to create a unified federal regulatory framework for self-driving vehicles, Bloomberg sources say. Musk has been critical of the existing approvals process for autonomous vehicles on a state-by-state basis, and sees this as fitting well into the problem of road safety, he says. Tesla’s futuristic two-seat "Cybercab" robotaxi, without a steering wheel or pedals, announced in May and planned for production in 2026, came less than two weeks after Musk’s comments. Mamta Valechha, an analyst at Quilter Cheviot, said a streamlined federal regulatory framework could accelerate Tesla’s Full Self Driving (FSD) testing and deployment. But Valechha said regulatory hurdles aren't the biggest hurdle for Tesla. For over four years the company has been developing its FSD software – which has not yet been eliminated and is still under the control of driver. The U.S. auto safety regulators are investigating Tesla's FSD after incidents, including reported collisions involving four vehicles equipped with the company's software. In 2023, one of those crashes was fatal, a factor that has prompted concerns regarding the safety and readiness of the technology for wide spread use. Tesla’s stock has fattened nearly 28 percent since November 5, catapulting the company over the USD 1 trillion valuation pile. While there are plenty of reasons for debate, investors seem to be taking hope that Musk's proximity to the White House might help facilitate regulatory changes favorable to self driving technology. By these gains, however, the stock’s rise has driven its price to earnings ratio way past traditional automakers such as Ford and General Motors and even tech giants like Apple and Nvidia. Analysts caution that while federal regulations could provide clarity, Tesla’s FSD technology and safety record remain critical factors for its future success. The potential regulatory shift represents a significant milestone for the autonomous vehicle industry, signaling increased federal interest in shaping the future of self-driving technology.

Tesla shares surge amid reports of federal self-driving vehicle regulations under Trump administration

Tesla recalled 2,400 Cybertruck pickups in the United States for a faulty drive inverter component that could cause power loss — a risk that could lead to a crash. The recall is Tesla’s sixth so far this year for the company’s signature electric pickup, the Cybertruck, as it wrestles with a variety of problems with the high-profile vehicle.

Driving while pushing the accelerator would be a no go for Cybertrucks that were churned out of the factory till July 30, according to a filing with the National Highway Traffic Safety Administration (NHTSA). Without warning, Tesla says, such a loss of thrust could result in a crash increase.&nbsp;

Tesla has instructed to replace the faulty drive inverters on the vehicles with a revised part to fix the problem. It was set to start using the upgraded part in Cybertruck production from July 30, and had already begun doing so, the company said. Five warranty claims have been reported by Tesla regarding the issue, none of which have led to the injury or accident, the automaker said.

According to recall documents, the replacement process for those vehicles affected is set to begin in and around December 9, notwithstanding that owners will be advised in advance of the recall service. The latest recall comes after a recall in November for Cybertrucks affected by a delayed rear camera view, which could compromise driver visibility.

This is the latest in a series of Cybertruck recalls this year for Tesla, reminding drivers to keep a close eye out for defective accelerator pedal pads, faulty windshield wipers, and exterior trim. Coming while Tesla faces pressure from investors and analysts to deliver, the recalls coincide with the EV maker’s huge investment in a futuristic Cybertruck product.&nbsp;

Deliveries of the Cybertruck, which is inspired by the Blade Runner universe, did not begin until 2023 after the vehicle was originally slated for a 2021 release due to production and battery-supply problems.&nbsp;

With EV demand facing some headwinds, Tesla has not disclosed specific production or delivery numbers for the Cybertruck, adding to investor interest as they monitor how the vehicle impacts Tesla’s overall growth trajectory and brand lineup revitalisation.

Tesla recalled 2,400 Cybertruck pickups in the United States for a faulty drive inverter component that could cause power loss — a risk that could lead to a crash.

Tesla recalled 2,400 Cybertruck pickups in the United States for a faulty drive inverter component that could cause power loss — a risk that could lead to a crash. The recall is Tesla’s sixth so far this year for the company’s signature electric pickup, the Cybertruck, as it wrestles with a variety of problems with the high-profile vehicle. Driving while pushing the accelerator would be a no go for Cybertrucks that were churned out of the factory till July 30, according to a filing with the National Highway Traffic Safety Administration (NHTSA). Without warning, Tesla says, such a loss of thrust could result in a crash increase. Tesla has instructed to replace the faulty drive inverters on the vehicles with a revised part to fix the problem. It was set to start using the upgraded part in Cybertruck production from July 30, and had already begun doing so, the company said. Five warranty claims have been reported by Tesla regarding the issue, none of which have led to the injury or accident, the automaker said. According to recall documents, the replacement process for those vehicles affected is set to begin in and around December 9, notwithstanding that owners will be advised in advance of the recall service. The latest recall comes after a recall in November for Cybertrucks affected by a delayed rear camera view, which could compromise driver visibility. This is the latest in a series of Cybertruck recalls this year for Tesla, reminding drivers to keep a close eye out for defective accelerator pedal pads, faulty windshield wipers, and exterior trim. Coming while Tesla faces pressure from investors and analysts to deliver, the recalls coincide with the EV maker’s huge investment in a futuristic Cybertruck product. Deliveries of the Cybertruck, which is inspired by the Blade Runner universe, did not begin until 2023 after the vehicle was originally slated for a 2021 release due to production and battery-supply problems. With EV demand facing some headwinds, Tesla has not disclosed specific production or delivery numbers for the Cybertruck, adding to investor interest as they monitor how the vehicle impacts Tesla’s overall growth trajectory and brand lineup revitalisation.

Tesla recalls 2,400 Cybertrucks due to faulty drive inverter component

Tesla has announced the recall of 2,431 Cybertruck electric pickup trucks in the United States. This recall, the sixth such action taken by the company this year, is due to a fault in the drive inverter that could potentially lead to a loss of propulsion, thereby increasing the risk of a collision.

The issue, as outlined in Tesla's report, stems from a defect in the drive inverter of Cybertrucks manufactured between November 6, 2023, and July 30, 2024. This fault can cause the part to stop producing torque when the driver presses the accelerator pedal, resulting in a sudden loss of power and heightening the chances of a crash.

In an effort to address the problem, Tesla has stated that it will replace the faulty drive inverter with a functioning component at no additional cost to the affected vehicle owners. This move is part of the company's ongoing efforts to address quality control issues that have plagued the Cybertruck's development and production.

The Cybertruck, Tesla's much-anticipated and futuristic-looking pickup truck, has faced a tumultuous journey since its initial unveiling in 2019. After a two-year delay due to production and battery supply challenges, the company began delivering the vehicle in 2023. However, the Blade Runner-inspired truck has remained under close investor scrutiny due to its significant development costs and the impact on Tesla's overall financial performance.

This latest recall is the sixth such action taken by Tesla this year, underscoring the company's ongoing struggle to ensure the quality and safety of its vehicles. In the past, the electric vehicle (EV) manufacturer has issued recalls for issues ranging from malfunctioning rear-view cameras to potential power loss.

The Cybertruck recall comes at a critical time for Tesla, as the company navigates a slowing growth in EV demand and faces increasing competition from established automakers and newcomers alike. The company's ability to address these quality control issues and maintain consumer confidence will be crucial in determining the long-term success of the Cybertruck and Tesla's broader product lineup.

Industry experts have expressed concerns that the repeated recalls could undermine consumer trust in the Cybertruck and potentially impact Tesla's overall brand reputation. The company's response to this latest issue will be closely watched by both investors and customers as it strives to maintain its position as a leader in the rapidly evolving EV market.

Tesla's recall of over 2,400 Cybertrucks due to a fault in the drive inverter is the latest in a series of quality control challenges faced by the company. As the EV market continues to evolve and competition intensifies, Tesla's ability to address these issues and deliver high-quality, safe vehicles will be crucial in determining its long-term success.

Tesla has announced the recall of 2,431 Cybertruck electric pickup trucks in the United States. This recall, the sixth such action taken by the company this year, is due to a fault in the drive inverter that could potentially lead to a loss of propulsion, thereby increasing the risk of a collision.

Tesla has announced the recall of 2,431 Cybertruck electric pickup trucks in the United States. This recall, the sixth such action taken by the company this year, is due to a fault in the drive inverter that could potentially lead to a loss of propulsion, thereby increasing the risk of a collision. The issue, as outlined in Tesla's report, stems from a defect in the drive inverter of Cybertrucks manufactured between November 6, 2023, and July 30, 2024. This fault can cause the part to stop producing torque when the driver presses the accelerator pedal, resulting in a sudden loss of power and heightening the chances of a crash. In an effort to address the problem, Tesla has stated that it will replace the faulty drive inverter with a functioning component at no additional cost to the affected vehicle owners. This move is part of the company's ongoing efforts to address quality control issues that have plagued the Cybertruck's development and production. The Cybertruck, Tesla's much-anticipated and futuristic-looking pickup truck, has faced a tumultuous journey since its initial unveiling in 2019. After a two-year delay due to production and battery supply challenges, the company began delivering the vehicle in 2023. However, the Blade Runner-inspired truck has remained under close investor scrutiny due to its significant development costs and the impact on Tesla's overall financial performance. This latest recall is the sixth such action taken by Tesla this year, underscoring the company's ongoing struggle to ensure the quality and safety of its vehicles. In the past, the electric vehicle (EV) manufacturer has issued recalls for issues ranging from malfunctioning rear-view cameras to potential power loss. The Cybertruck recall comes at a critical time for Tesla, as the company navigates a slowing growth in EV demand and faces increasing competition from established automakers and newcomers alike. The company's ability to address these quality control issues and maintain consumer confidence will be crucial in determining the long-term success of the Cybertruck and Tesla's broader product lineup. Industry experts have expressed concerns that the repeated recalls could undermine consumer trust in the Cybertruck and potentially impact Tesla's overall brand reputation. The company's response to this latest issue will be closely watched by both investors and customers as it strives to maintain its position as a leader in the rapidly evolving EV market. Tesla's recall of over 2,400 Cybertrucks due to a fault in the drive inverter is the latest in a series of quality control challenges faced by the company. As the EV market continues to evolve and competition intensifies, Tesla's ability to address these issues and deliver high-quality, safe vehicles will be crucial in determining its long-term success.

Tesla recalls over 2,400 Cybertrucks in sixth callback this year

Tesla shares closed up nearly 9 per cent on November 11, continuing to ride a postelection rally as President-elect Donald Trump, closely allied with CEO Elon Musk, begins to set up his presidential cabinet, according to a detailed report by CNBC.

Tesla has rallied 30 per cent in the last few days<o:p></o:p>

Analysts at Wedbush reiterated their outperform rating on the stock, joining earlier sunny outlooks reacting to Tuesday’s results. Tesla recently reclaimed its $1 trillion market cap after surging nearly 30 per cent last week, the CNBC report explained further.

“We are raising our price target on Tesla to $400 from $300 as we believe the Trump White House win will be a game-changer for the autonomous and artificial intelligence (AI) story for Tesla and Musk over the coming years,” the Wedbush analysts wrote.

Musk’s wealth rocketed past $300 billion <o:p></o:p>

Musk’s wealth rocketed past $300 billion in the days since Trump’s decisive electoral win, further cementing his place as the richest man in the world and joining the wave of gains across the technology and crypto sector since postelection trading began.

It is unclear whether Musk, who spent at least $130 million on Trump’s campaign, will receive an official title in the second Trump White House or if he will influence policy decisions from his inner circle.

The CNBC report stated further, Musk stands to earn potentially billions from new government contracts with his companies, on top of the $19 billion SpaceX has already been awarded. Some or all of the 19 known ongoing federal lawsuits and investigations into his companies may begin to wind down entirely.

&nbsp;“It is difficult to judge how Elon Musk’s increasingly close public relationship with President Trump could benefit Tesla, but this needs to be monitored closely,” analysts from Bank of America wrote in a note last week, raising their Tesla price target from $265 to $350.

Trump has said previously he may cut the federal $7,500 electric vehicle tax credit, and those credits have historically helped drive sales of Tesla vehicles.

At one of his final campaign rallies, Trump suggested Musk could be put in charge of “government efficiency,” and he was present on Trump’s phone call with Ukrainian president Volodymyr Zelenskyy two days ago.

Market participants and global investors will closely follow these developments. This will help them in taking informed investment decisions with regards to the Tesla stock, as Musk looks primed to succeed financial in a second Trump presidency.

Tesla shares closed up nearly 9 per cent on November 11, continuing to ride a postelection rally as President-elect Donald Trump, closely allied with CEO Elon Musk, begins to set up his presidential cabinet, according to a detailed report by CNBC.

Tesla shares closed up nearly 9 per cent on November 11, continuing to ride a postelection rally as President-elect Donald Trump, closely allied with CEO Elon Musk, begins to set up his presidential cabinet, according to a detailed report by CNBC. Tesla has rallied 30 per cent in the last few days Analysts at Wedbush reiterated their outperform rating on the stock, joining earlier sunny outlooks reacting to Tuesday’s results. Tesla recently reclaimed its $1 trillion market cap after surging nearly 30 per cent last week, the CNBC report explained further. “We are raising our price target on Tesla to $400 from $300 as we believe the Trump White House win will be a game-changer for the autonomous and artificial intelligence (AI) story for Tesla and Musk over the coming years,” the Wedbush analysts wrote. Musk’s wealth rocketed past $300 billion Musk’s wealth rocketed past $300 billion in the days since Trump’s decisive electoral win, further cementing his place as the richest man in the world and joining the wave of gains across the technology and crypto sector since postelection trading began. It is unclear whether Musk, who spent at least $130 million on Trump’s campaign, will receive an official title in the second Trump White House or if he will influence policy decisions from his inner circle. The CNBC report stated further, Musk stands to earn potentially billions from new government contracts with his companies, on top of the $19 billion SpaceX has already been awarded. Some or all of the 19 known ongoing federal lawsuits and investigations into his companies may begin to wind down entirely. “It is difficult to judge how Elon Musk’s increasingly close public relationship with President Trump could benefit Tesla, but this needs to be monitored closely,” analysts from Bank of America wrote in a note last week, raising their Tesla price target from $265 to $350. Trump has said previously he may cut the federal $7,500 electric vehicle tax credit, and those credits have historically helped drive sales of Tesla vehicles. At one of his final campaign rallies, Trump suggested Musk could be put in charge of “government efficiency,” and he was present on Trump’s phone call with Ukrainian president Volodymyr Zelenskyy two days ago. Market participants and global investors will closely follow these developments. This will help them in taking informed investment decisions with regards to the Tesla stock, as Musk looks primed to succeed financial in a second Trump presidency.

Tesla stock climbs 9%, breaks $1 trillion market cap milestone

Tesla shares rose more than 8 percent on Monday, continuing a strong rally that followed the electric car maker's share price climbing nearly 40 percent last week as investors bet on the close relationship between president-elect Donald Trump and Elon Musk. If gains continue, Tesla's stock will rise to USD 348.30, bumping the company's value up to nearly USD 87 billion. Tesla's market capitalisation moved past USD 1 trillion for the first time in two years Friday as a stock rally pushed on by Trump victory news drove the Wall Street automaker up nearly 28 percent since last Wednesday.

Tesla’s year to date worked out to a tepid 1% gain, a far cry from current air force one levels, until before recently that is. Musk’s longtime support of Trump, meanwhile, could mean strategic advantages for Tesla as federal policy may shift into favor, analysts say. In public, Musk has back Trump and according to federal records, has contributed at least USD 119 million to pro Trump initiatives.

Susannah Streeter, Head of Money and Markets at Hargreaves Lansdown, said that 'As an 'efficiency czar,' Musk could view this administration as an opportunity to simplify regulatory processes'. Such deregulation efforts could help the Tesla, as could Musk’s other ventures, if it includes less eyes on where Tesla’s autonomous driving technology sits, a focus for the automaker as it shifts gears toward self-driving and robotaxis.

Musk’s companies depend on regulatory approvals and government subsidies, as well as good policies. When it comes to Musk’s reported influence, there are Tesla’s electric vehicles, but also ventures like SpaceX, Starlink and Neuralink. Musk, routinely referred to as a proponent of Trump because of his disputes with those he, for his own reasons, believes to be working against beneficial fossil fuel development, gets added points for joining the Trump administration's proposed government efficiency commission, which will help bolster expectations of regulatory rollbacks.

Musk’s influence could land on the hook legally, with potential accusations of preferential treatment, but analysts say such cases could take years to make it to court — allowing Musk’s businesses plenty of time to reap any policy benefits.

While Trump has signaled a rollback on some electric vehicle incentives established by the Biden administration, Tesla’s strong market presence may insulate it from these cuts. Analysts suggest that newer startups could bear the brunt of the impact, while Tesla stands to strengthen its market leadership amidst shifting U.S. policies.

Tesla shares rose more than 8 percent on Monday, continuing a strong rally that followed the electric car maker's share price climbing nearly 40 percent last week as investors bet on the close relationship between president-elect Donald Trump and Elon Musk.

Tesla shares rose more than 8 percent on Monday, continuing a strong rally that followed the electric car maker's share price climbing nearly 40 percent last week as investors bet on the close relationship between president-elect Donald Trump and Elon Musk. If gains continue, Tesla's stock will rise to USD 348.30, bumping the company's value up to nearly USD 87 billion. Tesla's market capitalisation moved past USD 1 trillion for the first time in two years Friday as a stock rally pushed on by Trump victory news drove the Wall Street automaker up nearly 28 percent since last Wednesday. Tesla’s year to date worked out to a tepid 1% gain, a far cry from current air force one levels, until before recently that is. Musk’s longtime support of Trump, meanwhile, could mean strategic advantages for Tesla as federal policy may shift into favor, analysts say. In public, Musk has back Trump and according to federal records, has contributed at least USD 119 million to pro Trump initiatives. Susannah Streeter, Head of Money and Markets at Hargreaves Lansdown, said that 'As an 'efficiency czar,' Musk could view this administration as an opportunity to simplify regulatory processes'. Such deregulation efforts could help the Tesla, as could Musk’s other ventures, if it includes less eyes on where Tesla’s autonomous driving technology sits, a focus for the automaker as it shifts gears toward self-driving and robotaxis. Musk’s companies depend on regulatory approvals and government subsidies, as well as good policies. When it comes to Musk’s reported influence, there are Tesla’s electric vehicles, but also ventures like SpaceX, Starlink and Neuralink. Musk, routinely referred to as a proponent of Trump because of his disputes with those he, for his own reasons, believes to be working against beneficial fossil fuel development, gets added points for joining the Trump administration's proposed government efficiency commission, which will help bolster expectations of regulatory rollbacks. Musk’s influence could land on the hook legally, with potential accusations of preferential treatment, but analysts say such cases could take years to make it to court — allowing Musk’s businesses plenty of time to reap any policy benefits. While Trump has signaled a rollback on some electric vehicle incentives established by the Biden administration, Tesla’s strong market presence may insulate it from these cuts. Analysts suggest that newer startups could bear the brunt of the impact, while Tesla stands to strengthen its market leadership amidst shifting U.S. policies.

Tesla stock surges as Musk-Trump alliance sparks investor optimism

Tesla Inc. achieved a significant milestone on Friday as its market capitalisation surged past the USD 1 trillion mark, driven by investor optimism that CEO Elon Musk's strong support for President-elect Donald Trump during the campaign will translate into favourable policies for the electric vehicle manufacturer.

The company's shares experienced a remarkable 8.2% surge, closing at USD 321.22, marking the first time Tesla's valuation has exceeded the trillion-dollar threshold since early 2022. This week's extraordinary rally, which added more than USD 230 billion to Tesla's market value, represents the company's strongest performance since January 2023, with shares climbing an impressive 29%.

Garrett Nelson, senior equity analyst at CFRA Research, highlighted the potential benefits for Tesla under the new administration: "Tesla and CEO Elon Musk are perhaps the biggest winners from the election result, and we believe Trump's victory will help expedite regulatory approval of the company's autonomous driving technology."

Industry sources suggest that Musk's influence could lead to more favourable regulation of autonomous vehicles, a crucial development for Tesla's future growth. Additionally, the company might benefit from a potentially more lenient approach from the U.S. National Highway Traffic Safety Administration regarding the safety oversight of Tesla's current driver-assistance systems.

The surge in Tesla's stock price has had a direct impact on Musk's personal wealth, which has now exceeded USD 300 billion according to Forbes' real-time billionaires list. This wealth accumulation comes as Musk has strategically shifted Tesla's focus toward self-driving vehicle technology, moving away from earlier plans to develop a more affordable vehicle priced under USD 30,000.

David Whiston, equity strategist at Morningstar, emphasised the potential industry-wide benefits of federal standardisation: "If Musk can convince Trump to establish federal autonomous vehicle rules, we think that's a good thing for the auto industry because we think firms want one set of rules rather than each state making their own."

The market enthusiasm also follows Tesla's recent quarterly earnings report, where the company revealed improved profit margins and projected delivery growth of 20% to 30% for the coming year. This positive outlook has helped maintain Tesla's position as the world's most valuable automaker, significantly outpacing traditional competitors like Toyota Motor, as well as emerging electric vehicle manufacturers such as China's BYD.

Tesla's current market valuation reflects extraordinary investor confidence, with the company trading at 93.47 times its 12-month forward earnings estimates. This premium valuation substantially exceeds that of other major technology and automotive companies, including Nvidia (38.57), Microsoft (30.77), and Ford (6.29).

However, industry analysts note that while Tesla's autonomous driving ambitions show promise, the company continues to face both technical and regulatory challenges in bringing fully self-driving vehicles to market. The success of these initiatives will largely depend on the new administration's approach to autonomous vehicle regulation and safety standards. 
&nbsp;

Tesla Inc. achieved a significant milestone on Friday as its market capitalisation surged past the USD 1 trillion mark, driven by investor optimism that CEO Elon Musk's strong support for President-elect Donald Trump during the campaign will translate into favourable policies for the electric vehicle manufacturer.

Tesla Inc. achieved a significant milestone on Friday as its market capitalisation surged past the USD 1 trillion mark, driven by investor optimism that CEO Elon Musk's strong support for President-elect Donald Trump during the campaign will translate into favourable policies for the electric vehicle manufacturer. The company's shares experienced a remarkable 8.2% surge, closing at USD 321.22, marking the first time Tesla's valuation has exceeded the trillion-dollar threshold since early 2022. This week's extraordinary rally, which added more than USD 230 billion to Tesla's market value, represents the company's strongest performance since January 2023, with shares climbing an impressive 29%. Garrett Nelson, senior equity analyst at CFRA Research, highlighted the potential benefits for Tesla under the new administration: "Tesla and CEO Elon Musk are perhaps the biggest winners from the election result, and we believe Trump's victory will help expedite regulatory approval of the company's autonomous driving technology." Industry sources suggest that Musk's influence could lead to more favourable regulation of autonomous vehicles, a crucial development for Tesla's future growth. Additionally, the company might benefit from a potentially more lenient approach from the U.S. National Highway Traffic Safety Administration regarding the safety oversight of Tesla's current driver-assistance systems. The surge in Tesla's stock price has had a direct impact on Musk's personal wealth, which has now exceeded USD 300 billion according to Forbes' real-time billionaires list. This wealth accumulation comes as Musk has strategically shifted Tesla's focus toward self-driving vehicle technology, moving away from earlier plans to develop a more affordable vehicle priced under USD 30,000. David Whiston, equity strategist at Morningstar, emphasised the potential industry-wide benefits of federal standardisation: "If Musk can convince Trump to establish federal autonomous vehicle rules, we think that's a good thing for the auto industry because we think firms want one set of rules rather than each state making their own." The market enthusiasm also follows Tesla's recent quarterly earnings report, where the company revealed improved profit margins and projected delivery growth of 20% to 30% for the coming year. This positive outlook has helped maintain Tesla's position as the world's most valuable automaker, significantly outpacing traditional competitors like Toyota Motor, as well as emerging electric vehicle manufacturers such as China's BYD. Tesla's current market valuation reflects extraordinary investor confidence, with the company trading at 93.47 times its 12-month forward earnings estimates. This premium valuation substantially exceeds that of other major technology and automotive companies, including Nvidia (38.57), Microsoft (30.77), and Ford (6.29). However, industry analysts note that while Tesla's autonomous driving ambitions show promise, the company continues to face both technical and regulatory challenges in bringing fully self-driving vehicles to market. The success of these initiatives will largely depend on the new administration's approach to autonomous vehicle regulation and safety standards.

Tesla surges past USD 1 trillion valuation

The National Highway Traffic Safety Administration (NHTSA) has escalated its scrutiny of Tesla's communications strategy, expressing serious concerns about social media posts that could mislead consumers about the capabilities of its Full Self-Driving (FSD) technology. The federal safety agency argues that these posts may encourage dangerous misuse of the driver assistance system.

In a detailed email dated May 14, released publicly on Friday, NHTSA directly challenged Tesla's social media messaging, particularly posts that could lead consumers to view FSD as an autonomous robotaxi service rather than what it actually is: a partial automation system requiring constant driver attention and occasional intervention.

The timing of this communication is particularly significant, as it comes amid an ongoing NHTSA investigation launched in October into 2.4 million Tesla vehicles equipped with FSD software. This investigation was prompted by four reported collisions, including a fatal crash in 2023, occurring under challenging visibility conditions such as sun glare, fog, and airborne dust.

Of particular concern to NHTSA were specific posts on X (formerly Twitter) that the agency believes could promote unsafe usage of the FSD system. These included Tesla's reposting of an account describing a driver using FSD to navigate a 13-mile journey to an emergency room during a heart attack, and another post showcasing a 50-minute autonomous drive home from a sporting event.

"We believe that Tesla's postings conflict with its stated messaging that the driver is to maintain continued control over the dynamic driving task," NHTSA wrote in its communication with the automaker. The agency has requested Tesla to reconsider its communication strategy regarding FSD capabilities.

In response to these concerns during a May meeting, Tesla defended its position by pointing to disclaimers in its owner's manual and other documentation that clearly state the vehicle is not autonomous and requires driver vigilance. However, this response has not fully addressed NHTSA's concerns about the potential disconnect between official documentation and social media messaging.

The investigation has taken on added urgency following a tragic incident in Rimrock, Arizona, where a 71-year-old woman was fatally struck by a Tesla operating in FSD mode. The driver, who was battling sun glare at the time, was not charged in the incident. This case has become a focal point in discussions about FSD's ability to handle challenging environmental conditions.

NHTSA has set a December 18 deadline for Tesla to respond to a series of detailed questions about the investigation, particularly focusing on the system's "potential failure to perform, including detecting and responding appropriately in specific situations where there is reduced roadway visibility that may limit FSD's ability to safely operate."

The agency's investigation will also examine whether the system provides adequate feedback to drivers when operating beyond its capabilities, a crucial safety consideration for partial automation systems.

This latest development follows Tesla's December 2023 agreement to recall over 2 million vehicles in the United States to install new safeguards in its Autopilot system, a decision made under pressure from NHTSA. The agency continues to evaluate whether these safeguards adequately address safety concerns.

The situation is particularly complex given that Elon Musk serves as both Tesla's CEO and the owner of X, the platform where many of the controversial posts appeared. This dual role raises questions about the alignment of corporate messaging across different platforms and its impact on public safety.

The National Highway Traffic Safety Administration (NHTSA) has escalated its scrutiny of Tesla's communications strategy, expressing serious concerns about social media posts that could mislead consumers about the capabilities of its Full Self-Driving (FSD) technology.

The National Highway Traffic Safety Administration (NHTSA) has escalated its scrutiny of Tesla's communications strategy, expressing serious concerns about social media posts that could mislead consumers about the capabilities of its Full Self-Driving (FSD) technology. The federal safety agency argues that these posts may encourage dangerous misuse of the driver assistance system. In a detailed email dated May 14, released publicly on Friday, NHTSA directly challenged Tesla's social media messaging, particularly posts that could lead consumers to view FSD as an autonomous robotaxi service rather than what it actually is: a partial automation system requiring constant driver attention and occasional intervention. The timing of this communication is particularly significant, as it comes amid an ongoing NHTSA investigation launched in October into 2.4 million Tesla vehicles equipped with FSD software. This investigation was prompted by four reported collisions, including a fatal crash in 2023, occurring under challenging visibility conditions such as sun glare, fog, and airborne dust. Of particular concern to NHTSA were specific posts on X (formerly Twitter) that the agency believes could promote unsafe usage of the FSD system. These included Tesla's reposting of an account describing a driver using FSD to navigate a 13-mile journey to an emergency room during a heart attack, and another post showcasing a 50-minute autonomous drive home from a sporting event. "We believe that Tesla's postings conflict with its stated messaging that the driver is to maintain continued control over the dynamic driving task," NHTSA wrote in its communication with the automaker. The agency has requested Tesla to reconsider its communication strategy regarding FSD capabilities. In response to these concerns during a May meeting, Tesla defended its position by pointing to disclaimers in its owner's manual and other documentation that clearly state the vehicle is not autonomous and requires driver vigilance. However, this response has not fully addressed NHTSA's concerns about the potential disconnect between official documentation and social media messaging. The investigation has taken on added urgency following a tragic incident in Rimrock, Arizona, where a 71-year-old woman was fatally struck by a Tesla operating in FSD mode. The driver, who was battling sun glare at the time, was not charged in the incident. This case has become a focal point in discussions about FSD's ability to handle challenging environmental conditions. NHTSA has set a December 18 deadline for Tesla to respond to a series of detailed questions about the investigation, particularly focusing on the system's "potential failure to perform, including detecting and responding appropriately in specific situations where there is reduced roadway visibility that may limit FSD's ability to safely operate." The agency's investigation will also examine whether the system provides adequate feedback to drivers when operating beyond its capabilities, a crucial safety consideration for partial automation systems. This latest development follows Tesla's December 2023 agreement to recall over 2 million vehicles in the United States to install new safeguards in its Autopilot system, a decision made under pressure from NHTSA. The agency continues to evaluate whether these safeguards adequately address safety concerns. The situation is particularly complex given that Elon Musk serves as both Tesla's CEO and the owner of X, the platform where many of the controversial posts appeared. This dual role raises questions about the alignment of corporate messaging across different platforms and its impact on public safety.

NHTSA challenges Tesla over misleading full self-driving social media posts

Musk's strong support for Trump during the 2024 presidential campaign has paid off, as evidenced by the nearly 15% surge in Tesla's stock price on Wednesday following Trump's victory. The company's market value jumped by around USD 120 billion, reflecting investors' belief that Musk will now have considerable sway with the new administration.

Musk's influence is expected to be far-reaching, given his role as a major contractor with the U.S. Department of Defense through his ownership of the Starlink satellite broadband system, as well as his position as CEO of Tesla. The incoming Trump administration has already indicated that it will establish a government efficiency commission headed by Musk, further expanding the billionaire's reach.

The potential benefits for Musk extend beyond just Tesla. Trump's desire to reduce electric vehicle (EV) mandates may hurt Musk's competitors more than it hurts Tesla, given the company's significant sales volume. Additionally, Trump's promise to levy heavy tariffs on Chinese imports, particularly on EVs, could further shield Tesla from competition.

However, Musk's close ties to the Trump administration have raised concerns about potential conflicts of interest, as the billionaire has businesses spanning various industries, including auto, space, health, construction, and artificial intelligence. Experts warn that Musk may try to leverage his influence to reduce regulatory oversight of his businesses, which could have far-reaching consequences.

The EV industry has acknowledged the importance of the next four years in ensuring the development and deployment of these technologies, and the Zero Emission Transportation Association, which includes Tesla, Rivian, Lucid, and battery maker LG, has stated its readiness to work with the Trump administration. However, the industry as a whole is bracing for a shift away from the pro-EV policies of the previous administration.

As Musk's influence grows, the future of Tesla and the broader automotive landscape in the United States remains uncertain. The industry will need to navigate a complex web of new trade policies, regulatory shifts, and evolving consumer preferences under the Trump presidency, with Musk poised to play a pivotal role in shaping these changes. 
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Musk's strong support for Trump during the 2024 presidential campaign has paid off, as evidenced by the nearly 15% surge in Tesla's stock price on Wednesday following Trump's victory.

Musk's strong support for Trump during the 2024 presidential campaign has paid off, as evidenced by the nearly 15% surge in Tesla's stock price on Wednesday following Trump's victory. The company's market value jumped by around USD 120 billion, reflecting investors' belief that Musk will now have considerable sway with the new administration. Musk's influence is expected to be far-reaching, given his role as a major contractor with the U.S. Department of Defense through his ownership of the Starlink satellite broadband system, as well as his position as CEO of Tesla. The incoming Trump administration has already indicated that it will establish a government efficiency commission headed by Musk, further expanding the billionaire's reach. The potential benefits for Musk extend beyond just Tesla. Trump's desire to reduce electric vehicle (EV) mandates may hurt Musk's competitors more than it hurts Tesla, given the company's significant sales volume. Additionally, Trump's promise to levy heavy tariffs on Chinese imports, particularly on EVs, could further shield Tesla from competition. However, Musk's close ties to the Trump administration have raised concerns about potential conflicts of interest, as the billionaire has businesses spanning various industries, including auto, space, health, construction, and artificial intelligence. Experts warn that Musk may try to leverage his influence to reduce regulatory oversight of his businesses, which could have far-reaching consequences. The EV industry has acknowledged the importance of the next four years in ensuring the development and deployment of these technologies, and the Zero Emission Transportation Association, which includes Tesla, Rivian, Lucid, and battery maker LG, has stated its readiness to work with the Trump administration. However, the industry as a whole is bracing for a shift away from the pro-EV policies of the previous administration. As Musk's influence grows, the future of Tesla and the broader automotive landscape in the United States remains uncertain. The industry will need to navigate a complex web of new trade policies, regulatory shifts, and evolving consumer preferences under the Trump presidency, with Musk poised to play a pivotal role in shaping these changes.

Elon Musk's ties to Trump Presidency poised to reshape Tesla and beyond

The San Francisco-based 9th U.S. Circuit Court of Appeals rejected arguments made by lawyers for Tesla investors, who had sought a new trial, claiming that the jury instructions given by the presiding judge were flawed and impermissibly heightened the burden of proof for the shareholders.

The case, which was filed in 2018, centred around Musk's tweets on August 7, 2018, where he stated that he was considering taking Tesla private at USD 420 per share, and that he had "funding secured." These tweets caused Tesla's stock price to soar, only to fall again after it became clear that the buyout would not happen.

The shareholders' lawyers had accused Tesla and Musk of misleading investors, costing them billions of dollars. However, the three-judge panel of the appeals court disagreed with the plaintiffs' arguments, stating that while Musk had been found to have tweeted recklessly, the question of whether he acted knowingly was still relevant in determining the apportionment of damages between the defendants, which included Tesla directors.

Ellyde Thompson, a lawyer for Musk and Tesla, welcomed the decision, while the plaintiffs' lawyer did not respond to requests for comment.

The case has been closely watched as it highlights the challenges companies and their executives face in navigating the increasingly complex and scrutinised social media landscape. The decision is seen as a major victory for Musk and Tesla, who have faced numerous legal battles and regulatory scrutiny over their public statements and conduct.

The ruling also underscores the high bar that shareholders must meet in proving that company officials knowingly made false statements, even in cases where the statements themselves have been found to be inaccurate or reckless.

As Tesla and Musk continue to navigate the ever-evolving electric vehicle market and the public's attention, this legal victory may provide them with some respite from the constant scrutiny they have faced in recent years. However, the company and its CEO remain under intense scrutiny from regulators, investors, and the public, ensuring that the spotlight on their actions and communications will likely continue for the foreseeable future. 
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The San Francisco-based 9th U.S. Circuit Court of Appeals rejected arguments made by lawyers for Tesla investors, who had sought a new trial, claiming that the jury instructions given by the presiding judge were flawed and impermissibly heightened the burden of proof for the shareholders.

The San Francisco-based 9th U.S. Circuit Court of Appeals rejected arguments made by lawyers for Tesla investors, who had sought a new trial, claiming that the jury instructions given by the presiding judge were flawed and impermissibly heightened the burden of proof for the shareholders. The case, which was filed in 2018, centred around Musk's tweets on August 7, 2018, where he stated that he was considering taking Tesla private at USD 420 per share, and that he had "funding secured." These tweets caused Tesla's stock price to soar, only to fall again after it became clear that the buyout would not happen. The shareholders' lawyers had accused Tesla and Musk of misleading investors, costing them billions of dollars. However, the three-judge panel of the appeals court disagreed with the plaintiffs' arguments, stating that while Musk had been found to have tweeted recklessly, the question of whether he acted knowingly was still relevant in determining the apportionment of damages between the defendants, which included Tesla directors. Ellyde Thompson, a lawyer for Musk and Tesla, welcomed the decision, while the plaintiffs' lawyer did not respond to requests for comment. The case has been closely watched as it highlights the challenges companies and their executives face in navigating the increasingly complex and scrutinised social media landscape. The decision is seen as a major victory for Musk and Tesla, who have faced numerous legal battles and regulatory scrutiny over their public statements and conduct. The ruling also underscores the high bar that shareholders must meet in proving that company officials knowingly made false statements, even in cases where the statements themselves have been found to be inaccurate or reckless. As Tesla and Musk continue to navigate the ever-evolving electric vehicle market and the public's attention, this legal victory may provide them with some respite from the constant scrutiny they have faced in recent years. However, the company and its CEO remain under intense scrutiny from regulators, investors, and the public, ensuring that the spotlight on their actions and communications will likely continue for the foreseeable future.

Tesla investors fail in bid for new trial over Musk's 2018 tweets

Tesla has announced a 4% wage increase for all employees at its Grünheide gigafactory near Berlin, effective November 2023. The wage hike comes as a contrast to the broader German automotive industry's trend of cost reduction and workforce downsizing.

The salary increase follows Tesla's October announcement to convert 500 temporary positions into permanent roles at the facility, which currently employs approximately 12,000 workers. The company implemented these changes without involvement from IG Metall, the prominent German labour union that has previously voiced concerns about working conditions at the plant.

Tesla's Human Resources Director Erik Demmler emphasised the significance of the wage increase against the current industry backdrop. "This is further particularly welcome news for our workforce - especially at a time when many companies in the German automotive industry are talking about job cuts and plant closures," Demmler stated.

The Grünheide facility, Tesla's sole European gigafactory, has experienced its own fluctuations in workforce management this year. Earlier in 2023, the company implemented voluntary staff reductions and chose not to renew certain subcontractor agreements as part of a global cost-optimization strategy.

The wage increase announcement gains additional significance when viewed against the current state of the German automotive sector. Volkswagen, Europe's largest automaker, has recently launched a comprehensive cost-cutting program that includes requesting a 10% salary reduction from its workforce to maintain competitiveness and preserve jobs.

Tesla's decision to raise wages represents a notable divergence from the industry trend. While traditional German automakers grapple with the challenges of transitioning to electric vehicle production while maintaining profitability, Tesla's move suggests confidence in its German operations despite previous workforce adjustments.

The wage increase also comes at a crucial time for the German automotive industry, which is facing multiple challenges including the transition to electric vehicles, supply chain pressures, and increasing global competition. Tesla's ability to implement wage increases while others in the sector are reducing costs highlights the varying strategies different manufacturers are employing to navigate the current market environment.

The development may have implications for labour relations in the German automotive sector. While Tesla implemented the wage increase independently of union involvement, it demonstrates the company's willingness to improve compensation despite previous tensions with IG Metall over working conditions at the Grünheide facility.

This wage adjustment could influence labour expectations across the German automotive industry, particularly as traditional manufacturers implement cost-cutting measures. The contrasting approaches between Tesla and established German automakers underscore the different financial positions and strategic priorities within the sector.

The 4% increase also reflects Tesla's commitment to its European manufacturing presence, despite earlier workforce optimisations. As the company's only European gigafactory, the Grünheide facility plays a crucial role in Tesla's global production network and its strategy to expand in the European market.

The development suggests that Tesla is balancing its global cost-optimization efforts with the need to maintain a stable and motivated workforce at its key European facility, even as the broader German automotive industry faces significant structural changes and economic pressures. 
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Tesla has announced a 4% wage increase for all employees at its Grünheide gigafactory near Berlin, effective November 2023. The wage hike comes as a contrast to the broader German automotive industry's trend of cost reduction and workforce downsizing.

Tesla has announced a 4% wage increase for all employees at its Grünheide gigafactory near Berlin, effective November 2023. The wage hike comes as a contrast to the broader German automotive industry's trend of cost reduction and workforce downsizing. The salary increase follows Tesla's October announcement to convert 500 temporary positions into permanent roles at the facility, which currently employs approximately 12,000 workers. The company implemented these changes without involvement from IG Metall, the prominent German labour union that has previously voiced concerns about working conditions at the plant. Tesla's Human Resources Director Erik Demmler emphasised the significance of the wage increase against the current industry backdrop. "This is further particularly welcome news for our workforce - especially at a time when many companies in the German automotive industry are talking about job cuts and plant closures," Demmler stated. The Grünheide facility, Tesla's sole European gigafactory, has experienced its own fluctuations in workforce management this year. Earlier in 2023, the company implemented voluntary staff reductions and chose not to renew certain subcontractor agreements as part of a global cost-optimization strategy. The wage increase announcement gains additional significance when viewed against the current state of the German automotive sector. Volkswagen, Europe's largest automaker, has recently launched a comprehensive cost-cutting program that includes requesting a 10% salary reduction from its workforce to maintain competitiveness and preserve jobs. Tesla's decision to raise wages represents a notable divergence from the industry trend. While traditional German automakers grapple with the challenges of transitioning to electric vehicle production while maintaining profitability, Tesla's move suggests confidence in its German operations despite previous workforce adjustments. The wage increase also comes at a crucial time for the German automotive industry, which is facing multiple challenges including the transition to electric vehicles, supply chain pressures, and increasing global competition. Tesla's ability to implement wage increases while others in the sector are reducing costs highlights the varying strategies different manufacturers are employing to navigate the current market environment. The development may have implications for labour relations in the German automotive sector. While Tesla implemented the wage increase independently of union involvement, it demonstrates the company's willingness to improve compensation despite previous tensions with IG Metall over working conditions at the Grünheide facility. This wage adjustment could influence labour expectations across the German automotive industry, particularly as traditional manufacturers implement cost-cutting measures. The contrasting approaches between Tesla and established German automakers underscore the different financial positions and strategic priorities within the sector. The 4% increase also reflects Tesla's commitment to its European manufacturing presence, despite earlier workforce optimisations. As the company's only European gigafactory, the Grünheide facility plays a crucial role in Tesla's global production network and its strategy to expand in the European market. The development suggests that Tesla is balancing its global cost-optimization efforts with the need to maintain a stable and motivated workforce at its key European facility, even as the broader German automotive industry faces significant structural changes and economic pressures.

Tesla implements 4% wage increase at German Gigafactory

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