Tesla’s run of record deliveries may be reaching the end of the road
The Hindu
Elon Musk’s crown jewel, Tesla, has grappled with production glitches in China and slow output growth at new factories in Texas and Berlin
Tesla Inc is expected to end its nearly two-year-long run of record quarterly deliveries as a prolonged COVID-related shutdown in Shanghai hit its production and supply chain, highlighting the risks of its reliance on China.
(Sign up to our Technology newsletter, Today’s Cache, for insights on emerging themes at the intersection of technology, business and policy. Click here to subscribe for free.)
While Tesla Chief Executive Elon Musk has been pursuing the acquisition of social media platform Twitter Inc, his crown jewel, Tesla, has grappled with production glitches in China and slow output growth at new factories in Texas and Berlin.
Analysts expect Tesla to report deliveries of 295,078 vehicles for the second quarter as early as Friday, according to Refinitiv data. Several analysts have slashed their estimates further to about 250,000 due to China's prolonged lockdown.
This would be down from its record deliveries of 310,048 the preceding quarter, marking Tesla's first quarter-on-quarter decline in deliveries since the first quarter of 2020.
The world's most valuable automaker has posted record deliveries every quarter since the third quarter of 2020, weathering pandemic and supply-chain disruptions better than most automakers.
China has been instrumental in Tesla's rapid increase of vehicle production and Musk has praised workers there for "burning the 3 a.m. oil."
xAI’s Grok may soon come to an iOS app as the company announced its Series C funding round of $6 billion.
Biocon and Zentiva receive EU approval for Liraglutide, a complex formulation for diabetes and weight management.
Equity markets fluctuate as Sensex and Nifty rise initially, then fall; global markets and oil prices also discussed.
Microsoft has been working on adding internal and third-party AI models to power Microsoft 365 Copilot.
China's dominance in critical minerals poses supply chain vulnerabilities for India, US, and EU nations, requiring strategic diversification efforts.
India's controversial popcorn tax system sparks outrage and criticism, with opposition questioning the complex GST rates.
ICAI President investigates auditing lapses at Byju's, disciplinary committee probing, details undisclosed, part of ongoing investigations.
Sensex and Nifty rebound sharply after steep decline, driven by value buying, bluechip stocks, and global market rally.
AS-IT-IS Nutrition aims for ₹300 crore GMV in 2025 with ATOM range, endorsed by Ravindra Jadeja.
Adani Group acquires Air Works, India's largest MRO company, expanding its aviation services with a ₹400 crore deal.
Sterling and Wilson Renewable Energy Ltd. secures ₹1,200 crore order for 500 MW Solar PV project in Gujarat.