U.S. agency files lawsuit against Tesla (TSLA) alleging harassment of black factory workers

Warren Buffet-backed BYD closing in on Tesla (TSLA) EV sales

October 3, 2023 3:23 PM EDT

Tesla's (NASDAQ: TSLA) underwhelming third-quarter delivery figures have opened a door for its nearest competitor, BYD, the Chinese electric vehicle juggernaut backed by Warren Buffett's Berkshire Hathaway, to potentially claim the top spot in the electric car market rankings.

Last quarter, Tesla managed to sell... More

Tesla (TSLA) brings back rear-wheel Model Y at discounted price

October 3, 2023 10:27 AM EDT

Tesla Inc. (NASDAQ: TSLA) has reintroduced the rear-wheel-drive version of its Model Y crossover in the United States, following a third-quarter delivery report that didn't meet Wall Street's projections.

The Model Y, introduced for deliveries in March 2020, remains the top-selling model for the... More

Tesla (TSLA) Semi covers over 1,000 miles in a single day

September 29, 2023 2:46 PM EDT

A PepsiCo Tesla Semi successfully travelled over 1,000 miles during a single working day, as documented by the monitoring devices integrated into the vehicle as part of the North American Council for Freight Efficiency (NACFE) Run On Less initiative. A program designed to assess the practical efficiency of zero-emission commercial trucks.

The truck identified as "Tesla 3" recorded a total mileage of 1,076 miles during its journey and completed only one delivery.

As per the... More

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September 29, 2023 9:50 AM EDT

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Analysts cut 3Q delivery estimates on Tesla (TSLA)

September 29, 2023 8:46 AM EDT

Shares of Tesla (NASDAQ: TSLA) are up in pre-market trading Friday despite estimates being cut by analysts from three different firms today.

Citi reiterated a Neutral rating and $278 price target on the electric automaker ahead of the companys 3Q delivery report.

Citi analysts cut delivery estimates for the companys 3Q to 450k from 468.5k, leading to a reduced EPS estimate of $0.75 from $0.81. The updated estimates reflect... More

This analyst thinks Tesla stock won't sell off even if Q3 misses

September 29, 2023 8:18 AM EDT

Tesla (NASDAQ: TSLA) is expected to release its Q3 deliveries report in the coming days, and in anticipation of this, analysts are making adjustments to their forecasts.

At Piper Sandler, the initial forecast of over 515,000 units has been revised down to 445,000 units. This... More

Piper Sandler cuts Tesla (TSLA) estimates

September 29, 2023 6:51 AM EDT

Piper Sandler analyst Alexander Potter reiterated an Overweight rating and $300.00 price target on Tesla (NASDAQ: TSLA).

The analyst commented: "Tesla will soon release Q3 delivery data; in preparation for this, we are cutting our Q3 forecast from 515k+ to 445k units.... More

Barclays cuts Tesla (TSLA) estimates

September 29, 2023 6:46 AM EDT

Barclays analyst Dan Levy reiterated an Equalweight rating and $278.00 price target on Tesla (NASDAQ: TSLA).

The analyst commented: "Ahead of Teslas Q3 vehicle delivery release, were updating our model toreflect latest available datapoints. Our Q3 delivery estimate is reduced... More

Tesla's deliveries expected to fall on plant shutdowns, soft demand

September 29, 2023 6:12 AM EDT

By Aditya Soni

(Reuters) - Tesla may miss estimates for third-quarter deliveries due to planned factory shutdowns and soft demand that led the automaker to boost discounts, several Wall Street analysts warned in the run-up to the report that could come as early as Sunday.

Brokerages including Barclays, Baird and Guggenheim blamed the potential weakness on downtime at the automaker's plants in Europe and China to upgrade equipment and prepare for the production of the updated Model 3 sedan and the Cybertruck.

But the retooling could help power a strong fourth quarter by allowing Tesla to refresh... More

Tesla (TSLA) 30-day option implied volatility flat

September 29, 2023 4:53 AM EDT

Tesla (NASDAQ: TSLA) 30-day option implied volatility is at 54; compared to its 52-week range of 42 to 95.

... More

Citi Updates Deliveries Estimate on Tesla (TSLA): 'Our Q3 delivery estimate is reduced to 450k from 468.5k'

September 28, 2023 4:07 PM EDT

Citi analyst Itay Michaeli reiterated a Neutral rating and $278.00 price target on Tesla (NASDAQ: TSLA)

The analyst comments "Ahead of Teslas Q3 vehicle delivery release, were updating our model to reflect latest available datapoints. Our Q3 delivery estimate is... More

Tesla sued by US agency over alleged harassment of Black factory workers

September 28, 2023 3:16 PM EDT

By Daniel Wiessner

(Reuters) -A U.S. civil rights agency sued Tesla Inc on Thursday, claiming the electric carmaker has tolerated severe harassment of Black employees at its flagship Fremont, California, assembly plant, in charges similar to cases brought by the state and by Tesla employees.

The U.S. Equal Employment Opportunity Commission (EEOC) said in the lawsuit filed in federal court in California that from 2015 to the present, Black workers at the Tesla plant have routinely been subjected to racist slurs and graffiti, including swastikas and nooses.

Tesla has failed to investigate complaints of... More

Tesla (TSLA) Sued For 'Unlawful' Race Practices By Civil Rights Agency - Bloomberg

September 28, 2023 2:58 PM EDT

(Updated - September 28, 2023 3:01 PM EDT)

Tesla Sued For 'Unlawful' Race Practices By Civil Rights Agency - Bloomberg

Tesla was sued by US Equal Employment Opportunity Commission.EEOC alleges it created hostile work environment for racial minorities at its California factory.... More

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September 28, 2023 2:11 PM EDT

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Britain keeps timeline for 2035 fossil fuel Car phase-out despite delay

September 28, 2023 1:58 PM EDT

Britain revealed Thursday that the country will continue with its previous timetable to eliminating fossil fuel-burning cars by 2035, mitigating the consequences of last week's five-year delay, which now mandates that petrol and diesel vehicles must incorporate hybrid engines.

This announcement means that the policy shift introduced last week by Prime Minister Rishi Sunak's will not generate as much disruption to the industry as manufacturers had... More

Tesla (TSLA) trial concerning an autopilot death begins in California

September 28, 2023 11:51 AM EDT

The first U.S. trial over allegations that Tesla's (NASDAQ: TSLA) Full Self-Driving (FSD) autopilot technology factored into to the death of a Tesla driver in a fatal accident. The outcome of this trial has the potential to establish important legal precedents for similar cases nationwide.

Taking place in a California state court, this trial is the result of a civil lawsuit alleging that the Autopilot system was responsible for causing Micah Lee's Model 3 to abruptly deviate from a highway just east of Los Angeles,... More

In Tesla trial over Autopilot fatality, lawyer cites 'experimental vehicles'

September 28, 2023 6:02 AM EDT

By Dan Levine and Hyunjoo Jin

SAN FRANCISCO (Reuters) -The lawyer representing victims of a fatal crash of a Tesla Model 3 car in his opening statement in court on Thursday blamed the company's Autopilot driver assistant system, saying that "a car company should never sell consumers experimental vehicles."

An attorney for Tesla, in the first U.S. trial over allegations that its Autopilot feature led to a death, however, said the crash was the result of "a classic human error."

The trial, in a California state court, stems from a civil lawsuit alleging the Autopilot system... More

Lucid (LCID) opens EV factory in Saudi Arabia

September 27, 2023 2:10 PM EDT

Electric automaker, Lucid Group (NASDAQ: LCID) announced Wednesday the opening of the companys first international manufacturing plant. The facility is located in Saudi Arabia's Jeddah city and was constructed under a deal designed to help boost the Middle Eastern country's transition to... More

Morgan Stanley observes the UAW strike as Tesla (TSLA) influence 'looms larger that it appears'

September 27, 2023 11:05 AM EDT

Morgan Stanley remains bullish on Tesla (NASDAQ: TSLA) with an Outperform rating and a $400.00 price target on their Top Pick as the UAW continues to strike against the auto industry.

Morgan Stanley sees the UAW strike of 2023 as very similar to the 2019 strike against General Motors (NYSE: GM), but with a significant difference. Last time there was no viable alternative to domestic auto production outside of the Detroit 3 (GM, Ford, Stellantis).

In 2019, when the UAW went on strike for a grueling six weeks, Tesla (NASDAQ:... More

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September 27, 2023 9:48 AM EDT

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Tesla (TSLA) influence on UAW stike 'looms larger that it appears' - Morgan Stanley

September 27, 2023 9:39 AM EDT

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $400.00 price target on Tesla (NASDAQ: TSLA) after weighing in on the UAW strike at the big 3 U.S. automakers and Tesla.

The analyst commented, "The biggest difference between the UAW strike of 2023 vs... More

Deutsche Bank cuts Tesla (TSLA) Q3 estimates and warns that 2024 is 'at much larger risk'

September 27, 2023 5:54 AM EDT

Tesla's (NASDAQ: TSLA) Q3 deliveries and production figures could miss Street expectations, primarily due to global plant downtime for upgrades and Project Highland, according to Deutsche Bank analyst Emmanuel Rosner.

The analyst lowered Q3 delivery estimates to 440,000 units, a 6% sequential decrease from the previous estimate of 455,000 units.

Looking at 2024, however, we see considerable downside... More

Tesla (TSLA) PT Lowered to $285 at Deutsche Bank

September 27, 2023 3:33 AM EDT

Deutsche Bank analyst Emmanuel Rosner lowered the price target on Tesla (NASDAQ: TSLA) to $285.00 (from $300.00) while maintaining a Buy rating.... More