New poll also shows that a significant share of Americans will avoid companies that drop social-inclusion policies
One in five Americans plan to turn their backs for good on companies that have shifted their policies to align with Donald Trump’s agenda, according to a new poll for the Guardian.
As high-profile brands including Amazon, Target and Tesla grapple with economic boycotts, research by the Harris Poll indicated the backlash could have a lasting impact.
Continue reading...SpaceX, Musk’s private rockets and satellites business, is now largest asset for the first time in five years
Elon Musk’s vast stake in Tesla is no longer his most valuable asset as the electric car company continues to endure a sharp stock market sell-off.
Musk’s stake in SpaceX, his private rockets and satellites business, is now the billionaire tycoon’s largest asset for the first time in five years, according to Forbes, which still pegs his net worth at $323bn – more than anyone else in the world.
Continue reading...BYD unveils platform with charging power of 1,000 kW, which would be twice as fast as Tesla’s supercharging
The Chinese electric vehicle maker BYD has unveiled a new charging system that it said could make it possible for EVs to charge as quickly as it takes to refill with petrol.
BYD’s Hong Kong-listed shares gained 4.1% on Tuesday to hit a record high of 408.80 Hong Kong dollars, as investors bet that the company could strengthen its already commanding position as one of the world’s biggest electric carmakers.
Continue reading...After a SpaceX rocket exploded, investors offloaded Tesla shares and Doge hit legal roadblocks, the world’s richest man saw his fortune sink by $100bn
Elon Musk began the week of 10 March with a friendly sit-down interview on Fox Business to talk about his work with the so-called “department of government efficiency” (Doge) and the state of his businesses. Already, it had been a trying few days for the world’s richest man, who was facing a Tesla stock selloff and fierce backlash over his attempts to radically overhaul the federal government. His net worth declined over $22bn on Monday alone.
After Musk jokingly brushed off initial questions about the mounting pressure, host Larry Kudlow asked the Tesla and SpaceX CEO how he was managing to run his numerous companies amid the chaos.
Continue reading...Christopher Tsai retains faith in carmaker’s earnings potential despite backlash that has seen its shares take a hit
A devoted investor in Elon Musk’s Tesla – and once a close childhood friend of the US president’s eldest son and namesake – says he hopes the world’s richest man’s role in cutting federal spending for Donald Trump’s administration is “short-lived” and that he returns to managing his businesses.
Investment manager Christopher Tsai, whose firm has tens of millions of dollars tied up in Tesla, said the stock market had demonstrated clear signs of displeasure with Musk’s activities at the so-called department of government efficiency. And, in an interview with the Guardian, Tsai said: “I hope his involvement with [Doge] is short-lived so he can spend even more time on his businesses.”
Continue reading...Letter from Elon Musk’s firm to US trade representative warns of ‘downstream impacts’ of tit-for-tat tariffs
Elon Musk’s Tesla has warned that Donald Trump’s trade war could expose the electric carmaker to retaliatory tariffs that would also affect other automotive manufacturers in the US.
In an unsigned letter to Jamieson Greer, the US trade representative, Tesla said it “supports fair trade” but that the US administration should ensure it did not “inadvertently harm US companies”.
Continue reading...Tesla sales are falling and apps and online groups are springing up to help consumers choose non-US items
The renowned German classical violinist Christian Tetzlaff was blunt in explaining why he and his quartet have cancelled a summer tour of the US.
“There seems to be a quietness or denial about what’s going on,” Tetzlaff said, describing his horror at the authoritarian polices of Donald Trump and the response of US elites to the country’s growing democratic crisis.
Continue reading...Sales of battery-powered cars jumped in February, with Model 3 and Model Y most popular after Mini Cooper
Sales of Teslas in the UK rose by more than a fifth last month as demand for battery-powered cars increased, despite the prospect of a buyer backlash over Elon Musk’s controversial and divisive behaviour since becoming a key figure in Donald Trump’s administration.
Almost 4,000 Teslas were sold in the UK in February, with the Model 3 and Model Y proving the second and third most popular after the Mini Cooper, according to the latest new car registration figures from the Society of Motor Manufacturers and Traders (SMMT).
Continue reading...Lucy Grace Nelson is accused of throwing molotov cocktails and spray-painting ‘Nazi cars’ on the EV maker’s building
Federal prosecutors have charged a woman in a string of vandalism incidents against a Colorado Tesla dealership, including throwing molotov cocktails at vehicles and spray-painting “Nazi cars” on the building along with a message that appeared directed at company co-founder Elon Musk.
The case comes amid rising concerns voiced by Democrats and some Republicans about Musk’s influence over the administration of Donald Trump and follows recent protests at Tesla showrooms elsewhere in the US.
Continue reading...Demonstrations across the US against tycoon’s ties to Trump highlight potential risks to firm’s reputation and sales
Protesters gathered outside Tesla dealerships across the US on Saturday in response to Elon Musk’s efforts to shred government spending under the president, Donald Trump.
Groups of demonstrators up to 100-strong gathered outside the electric carmaker’s showrooms in cities including New York, Seattle, Kansas City and across California. Organisers said the protests took place in dozens of locations.
Continue reading...The man given free rein by Trump to crusade against the federal government supported Democrats until 2022. But some of Musk’s longstanding positions lead a straight line to his far-right sympathies
Elon Musk is not a people person, as millions around the world will be able to attest after the planet’s richest man cut off food supplies, healthcare and probably even life itself to some of the most vulnerable without so much as a fore- or afterthought.
Musk sees himself as a data man, wielding numbers like a machete to slash and burn his way through government waste and corruption as he leads the rightwing charge to capture the US state.
Continue reading...Levies threaten exporters to US market, while scrapping of subsidies will hit EV sales – and Tesla could gain
The internal combustion engine appears to hold a special place in Donald Trump’s psyche. During his inauguration speech last week, he made a “sacred pledge” to raise US car production to “a rate that nobody could have dreamt possible just a few years ago”.
Car making and the oil industry – not AI, computer chips, or even cryptocurrencies – were the only two industries the new US president highlighted as he promised to make America a “manufacturing nation once again”.
Continue reading...Elon Musk’s company still imports large number of cars into Europe from its Shanghai factory
Tesla has filed a complaint against the European Commission after the imposition of tariffs by the bloc on its Chinese-made electric vehicles.
The EU announced its decision to impose tariffs on all imports of Chinese electric cars in June, alleging that the Chinese government had provided unfair state subsidies to manufacturers in order to win a dominant position in the emerging industry. EU leaders approved the tariffs in October.
Continue reading...Suspect, 37, who authorities believe shot and killed himself before Tesla vehicle detonated, served as Green Beret
The person who died when a Tesla Cybertruck packed with explosives burst into flames outside the hotel in Las Vegas part-owned by Donald Trump was a highly decorated US army Green Beret who was deployed twice to Afghanistan, officials have said.
The driver and lone occupant of the electric-powered Tesla Cybertruck that caught fire and exploded has been identified as Matthew Livelsberger, from Colorado Springs, Colorado.
Continue reading...Cybertruck was stuffed with firework mortars and camp fuel canisters, with authorities working to determine the motive of the incident
One person died and seven others were injured after a Tesla Cybertruck packed with fireworks and gas canisters exploded outside president-elect Donald Trump’s Las Vegas hotel on Wednesday, with officials saying they were investigating potential motives for the incident.
Las Vegas police said that one person died inside the futuristic-looking pickup truck, which also contained camp fuel canisters, while seven people nearby suffered minor injuries.
Continue reading...Remarks follow social media posts from Tesla and SpaceX CEO, who vowed to go to ‘war’ to defend program
Donald Trump on Saturday sided with Elon Musk, a key supporter and billionaire tech CEO, in a public dispute over the use of the H-1B visa, saying he fully backs the program for foreign tech workers opposed by some of his supporters.
Trump’s remarks followed a series of social media posts from Musk, the CEO of Tesla and SpaceX, who vowed late Friday to go to “war” to defend the visa program for foreign tech workers.
Continue reading...Kathaleen McCormick in Delaware rules Musk not entitled to vast sum despite Tesla shareholders voting to reinstate it
A judge ruled on Monday that Tesla chief executive Elon Musk is still not entitled to receive a $56bn compensation package even though shareholders of the electric vehicle company had voted to reinstate it six months ago.
The ruling by the Delaware judge, Kathaleen McCormick of the court of chancery, follows her January decision that called the pay package excessive and rescinded it, surprising investors. The decision cast uncertainty over Musk’s future at the world’s most valuable carmaker. Tesla’s board argued the enormous payment scheme was necessary to keep Musk involved in the company, an argument that the billionaire, already the world’s richest man, echoed.
Continue reading...The electric car brand was once a liberal favourite – but the CEO’s embrace of Trump has led to an angry backlash
As Elon Musk has embraced Donald Trump and various far-right conspiracy theories, he has left behind an aghast cohort of Tesla owners who suddenly feel embarrassed by their own cars. Many of them are now publicly displaying their dismay at Musk on their vehicles.
Sales of anti-Musk stickers have boomed since the world’s richest man declared his support for Trump and helped propel him to victory in the US presidential election, as owners of Teslas, the car brand headed by Musk, try to distance themselves from the South African-born multibillionaire.
Continue reading...Former Republican congressman from Wisconsin was also a cast member on MTV’s The Real World: Boston
Donald Trump has named Sean Duffy, a former Republican congressman from Wisconsin,and former cast member of the MTV show The Real World, to serve as the secretary of transportation. He was also a co-host on Fox Business but left that role on Monday, according to Fox News Media.
Duffy served in Congress from 2011 until 2019. Before being elected to public office, he was district attorney for Ashland county, Wisconsin, from 2002 to 2008 and previously had a reality TV show role. Duffy was a cast member on The Real World: Boston in 1997 where he would meet his wife, Fox news contributor Rachel Campos-Duffy.
Continue reading...Analysts criticise lack of detail about the ‘robotaxi’ showcased by CEO Elon Musk
Tesla shares have fallen by 8%, wiping about $60bn (£45bn) from the company’s value, after the long-awaited unveiling of its so-called robotaxi failed to excite investors.
Shares in the electric carmaker fell to $219.40 in early trading on Friday after an event in Hollywood, where the chief executive, Elon Musk, revealed a much-hyped driverless vehicle.
Continue reading...