India wants Tesla to buy $500 million local auto parts for tax break: Report
NEW DELHI: Tesla Inc. would need to commit to sourcing at least $500 million of auto components from India for the electric carmaker’s request for an import tax cut on its vehicles to be considered, a person familiar with the government’s thinking said. While it could start at a lower base, Tesla would need to […]
World’s richest 500 lose $135 billion as Evergrande concerns spark market rout
By Tom Maloney & Blake Schmidt A global rout in stock markets sparked by concerns over China Evergrande Group hit the world’s biggest fortunes Monday, with the richest 500 people losing a combined $135 billion. Tesla Inc.’s Elon Musk led the declines as his world-leading net worth fell $7.2 billion to $198 billion, according to […]
Tesla to set up electric car manufacturing unit in Karnataka
BANGALURU: Billionaire Elon Musk’s Tesla Inc will set up an electric-car manufacturing unit in the southern Indian state of Karnataka, according to a government document seen by Reuters on Saturday. “The U.S. firm Tesla will be opening an electric car manufacturing unit in Karnataka,” the state government said in a brief statement. The statement was […]
BMW aims to double fully-electric vehicle sales in 2021
BMW said on Friday that it aims to double its sales of fully-electric vehicles this year as the German carmaker and rivals race to release new models to comply with CO2 emissions targets and chase market leader Tesla Inc. BMW also said that including plug-in hybrids, it aims for a 50% increase in sales of […]
Tesla registers India office in Bangalore
NEW DELHI: American electric car maker Tesla has registered its Indian arm amid indications that the company is set to enter the country’s automobile market. According to a regulatory filing, the firm has registered Tesla India Motors and Energy Pvt Ltd with RoC Bangalore. The company is registered with a authorised capital of Rs 15 […]
Nio launches first electric sedan model as Tesla delivers China-built SUV
CHENGDU,CHINA/SHANGHAI: Chinese electric vehicle (EV) maker Nio Inc on Saturday launched its first sedan model, eyeing a greater share of the world’s largest car market. The launch of the ET7, at an event in the western city of Chengdu, came as rival Tesla started selling its China-made Model Y sport-utility vehicle in the Chinese market. […]
Elon Musk says had once reached out to Apple for acquiring Tesla
NEW DELHI: Silicon Valley billionaire Elon Musk said on Tuesday he reached out to Apple Inc Chief Executive Officer Tim Cook “during the darkest days of the Model 3 program” to discuss the possibility of the iPhone maker acquiring Tesla Inc for a tenth of its current value. “He refused to take the meeting”, said […]
Elon Musk overtakes Bill Gates to grab world’s second-richest ranking
NEW DELHI: Elon Musk’s year of dizzying ascents hit a new apex Monday as the Tesla Inc. co-founder passed Bill Gates to become the world’s second-richest person. The 49-year-old entrepreneur’s net worth soared $7.2 billion to $127.9 billion, driven by yet another surge in Tesla’s share price. Musk has added $100.3 billion to his net […]
Tesla working on India entry, process begins in January: Elon Musk
NEW DELHI: Tesla CEO Elon Musk on Monday further revealed plans for the India entry of the electric car maker, saying the process to bring Tesla cars to India will begin in January 2021. Earlier this month, Musk said the electric car maker is finally ready to enter the India market next year. Reacting to […]
Tesla coming to India next year: Elon Musk
NEW DELHI: Tesla CEO Elon Musk said on Friday that the electric car maker is finally ready to enter the India market in 2021. Musk revealed his plans to bring Tesla cars to India in his response to a Twitter post that asked about the progress on Tesla’s planned entry into India. “Next year for […]