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Tesla Inc has slashed prices globally on its electric vehicles by as much as 20 percent, extending an aggressive discounting effort and challenging rivals after missing Wall Street delivery estimates for 2022. The move marks a reversal from the automaker's strategy over the last two years when new vehicle orders exceeded supply. It comes after CEO Elon Musk warned that the prospect of recession and higher interest rates meant it could lower prices to sustain growth at the expense of profit. Musk acknowledged last year…

Tesla Inc. shares hit a fresh two-year low in volatile trading as top boss Elon Musk's promise to not sell his shares in the electric-car company for at least two years did little to reassure investors. Musk has offloaded shares worth $40 billion in the world's most valuable carmaker since late last year, with $15 billion worth of stock sales coming after he made similar pledges in April, partly to fund the acquisition of Twitter. "If Musk sells another billion or so dollars' worth of shares in the near future, and that…

The US Securities and Exchange Commission is denying allegations that it is violating Elon Musk's free speech rights by trying to enforce a 2018 securities fraud settlement. The commission, in an appeals brief filed late Thursday, said Musk, the chief executive of Tesla, waived his First Amendment rights by agreeing to the settlement and amendments. It also rejected Musk's argument to scrap the agreement because he signed it under financial duress and didn't understand it. And the SEC argued that doing its job in the…

Twitter's market share has surged by 55.8 per cent in 2022 amid Elon Musk's takeover, while Facebook's share plunged by 11.86 per cent till November across desktop and mobile devices worldwide, a new report has revealed.According to data compiled by Finbold, a breakdown of the market share indicates that Facebook began the year at 76.85 per cent while in November, the value stood at 67.73 per cent.Elsewhere, in January, Twitter had a market share of 7.16 per cent while as of November, the figure stood at 11.16 per cent.In…

Elon Musk's $44 billion Twitter takeover saga comes with all the drama necessary to be immortalised in case studies for future captains of industry, as the tycoon's on-off pursuit of the social media platform and unique management style make for a union like no other. The chief executive of electric car maker Tesla Inc performed a U-turn by proposing to buy Twitter at the agreed price having spent months trying to get out of the deal, just as a Delaware Court was getting ready to rule on the standoff.Read Also "This is…

Some Twitter employees were engaged in a company-wide planning process for next year when their phones began buzzing with news that Elon Musk had again reversed course in his on-again, off-again $44 billion bid to buy the company. Some Twitter employees were engaged in a company-wide planning process for next year when their phones began buzzing with news that Elon Musk had again reversed course in his on-again, off-again $44 billion bid to buy the company. FOLLOW US ON GOOGLE NEWS Read original article here…

Elon Musk's lawyers urged a federal appeals court to throw out a provision in his 2018 consent decree with the US Securities and Exchange Commission (SEC) requiring a Tesla Inc lawyer to vet some of his posts on Twitter. In a brief filed late on Tuesday with the 2nd US Circuit Court of Appeals in Manhattan, lawyers for Musk called the pre-approval mandate a "government-imposed muzzle" that inhibited and chilled his lawful speech on a broad range of topics.Read Also They also said the requirement violated the US…

Elon Musk's review of Twitter Inc accounts by his advisers did not back up the billionaire's allegation that the number of fake users was "wildly higher" than 5% as he claimed when he said he was ending the Twitter takeover deal in July, a Twitter lawyer told a judge. Documents obtained from two data scientists employed by Musk showed they estimated in early July that the number of fake accounts on the platform at 5.3% and 11%, the Twitter lawyer told a Delaware judge. "None of these analyses so far as we can tell…

The secret behind Elon Musk's goal of selling 20 million Tesla's a year by 2030 lies in its pioneering battery technology. The good news is that by using bigger cells and a new process to dry-coat electrodes, Tesla could halve the cost of a Model Y battery, saving more than 8% of the car's US starting price, battery experts with ties to the company said. The bad news is that it's only halfway there, according to 12 experts close to Tesla or familiar with its new technology. That's because the dry-coating technique used…

Twitter Inc needs to give Elon Musk documents from a former Twitter executive who Musk said was a key figure in calculating the amount of fake accounts on the platform, according to a Monday court order. Bot and spam accounts on Twitter have become a central issue in the legal fight over whether Musk, who is Tesla Inc's chief executive, must complete his $44 billion acquisition of the social media company. Twitter was ordered to collect, review and produce documents from former General Manager of Consumer Product Kayvon…