Latest news with #TeslaInc
Malaysian Reserve
10 hours ago
- Automotive
- Malaysian Reserve
China's Baidu eyes robotaxi expansion to Singapore and Malaysia
BAIDU Inc. is planning to launch its Apollo Go robotaxi service in Singapore and Malaysia as early as this year, according to a person familiar with the matter, as the company continues to expand its global footprint. Apollo Go is in discussions with potential partners to explore the right business models for the two markets, said the person, who asked not to be identified discussing private matters. Baidu Chief Executive Officer Robin Li has previously said the company was seeking partners such as mobility service providers, local taxi companies and third-party fleet operators for an asset-light approach. The development comes as Tesla Inc. prepares to launch its Cybercab robotaxi network within days, with Elon Musk staking the electric car maker's future growth on autonomous driving technology. At the same time, Chinese robotaxi companies including Apollo Go, and US-listed Weride Inc. and Pony AI Inc. are expanding into international markets such as the Middle East, Europe and Southeast Asia. Baidu didn't immediately respond to a request for comment. Dow Jones Newswires reported the plans earlier. Apollo Go is fast scaling up. It has deployed than 1,000 self-driving vehicles worldwide, most of which are in China. It reached 11 million rides by the first quarter of this year, surpassing Alphabet Inc.'s autonomous driving unit Waymo's 10 million paid rides as of May 23. The Baidu unit is also exploring entering Europe and Turkey, and was in talks with Swiss Post unit PostAuto to roll out a robotaxi service in Switzerland. –BLOOMBERG
Bloomberg
10 hours ago
- Automotive
- Bloomberg
Tesla Set to Open India Showrooms in July With Made-in-China EVs
Tesla Inc. is set to open its first showrooms in India in July, people familiar with the discussions said, kicking off formal operations in the world's third-biggest automobile market as the Elon Musk-led firm hunts for growth amid falling sales in Europe and China. The electric vehicle giant's first set of cars have arrived in the country — Model Y rear-wheel drive SUVs shipped from Tesla's China factory, according to the people, who asked not to be identified as the information is private, as well as documents seen by Bloomberg News. The Model Y is the world's largest selling electric car.
Straits Times
2 days ago
- Science
- Straits Times
SpaceX's Starship explodes on test stand in yet another setback
SpaceX's Starship explodes on test stand in yet another setback TEXAS – A SpaceX Starship exploded on a test stand in Texas, one more setback to Mr Elon Musk's ambitions to operate return trips to Mars. The huge blast enveloped the craft as it stood upright at Starbase, before massive plumes of flames and smoke mushroomed into the night sky, video footage of the incident late on J une 18 showed. The incident shook windows and rattled dishes, according to local media reports. The rocket appeared to be undergoing a routine 'static fire test' of its engines. A static fire test is a pre-launch procedure in which a rocket's engines are fired while the rocket remains securely held down on the launch pad – essentially a rehearsal for the real launch, allowing engineers to test the rocket's systems without actually sending it into space. In a statement, SpaceX said the Starship 'experienced a major anomaly' during preparations for a 10th flight test. No one was injured and local residents aren't at risk, the company said. The scale of the incident wasn't immediately clear. But it adds to a series of setbacks for a spaceship program that's central to Nasa's plans to put American boots back on the moon – and also to Mr Musk's grander ambitions to send cargo and people to Mars. SpaceX holds contracts with American space agency Nasa worth around US$4 billion (S$5.1 billion) to land the agency's astronauts on the moon using Starship. I n May , SpaceX's colossal Starship disintegrated mid-flight after leaking propellant and spinning out of control. That loss was its third consecutive setback after flights in January and March were cut short just minutes after take-off when the spacecraft exploded over the Gulf of Mexico, sending debris raining down from the sky and disrupting air travel. As the world's largest and most powerful launch system, Starship is meant to serve as the primary spacecraft for transporting people to Mars and then bringing them back to Earth. Mr Musk has said he plans to send a Starship rocket to the Red Planet carrying robots built by Tesla Inc as early as 2026. As Mr Musk, the world's richest person, steps back from his political work in Washington to refocus on his business empire, there are still some questions over how much time he'll spend on Starship and SpaceX, and what changes he'll make inside the company to get the program back on track. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
2 days ago
- Automotive
- Yahoo
Tesla Stock plummets as Austin Factory Shuts Down Cybertruck Line
June 18 - Tesla (NASDAQ:TSLA) shares fell nearly 4% on Tuesday after reports surfaced of a temporary production halt at its Austin, Texas facility, dampening investor sentiment ahead of the company's highly anticipated Robotaxi launch. The stock has declined about 22% so far this year. According to Business Insider, Tesla plans to suspend manufacturing of its Cybertruck and Model Y models for a week starting June 30. The company reportedly told employees the downtime would allow for maintenance and upgrades on the production lines. No details were provided on which areas may see output improvements. This marks at least the third production pause for Tesla in 2025. The EV maker has been under pressure following disappointing first-quarter results and increasing competition in the global electric vehicle market. Investor concerns have also been fueled by CEO Elon Musk's political ties and recent public disputes. Meanwhile, Tesla is preparing to roll out a pilot version of its Robotaxi service in Austin on June 22. The initiative will use Model Y vehicles equipped with the company's latest Full Self-Driving software. Local groups have voiced opposition to the program, citing safety and transparency concerns. Separately, Wells Fargo issued a downbeat outlook on Tesla's second-quarter performance. Analyst Colin Langan warned that deliveries would need to jump over 50% in June to meet Wall Street targets. He also forecast a $1.9 billion free cash flow deficit for the year and slashed his price target to $120, reflecting a possible 62% downside. Based on the one year price targets offered by 43 analysts, the average target price for Tesla Inc is $289.30 with a high estimate of $500.00 and a low estimate of $19.05. The average target implies a downside of -8.55% from the current price of $316.35. Based on GuruFocus estimates, the estimated GF Value for Tesla Inc in one year is $269.36, suggesting a downside of -14.85% from the current price of $316.35. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
2 days ago
- Automotive
- Yahoo
Tesla Stock plummets as Austin Factory Shuts Down Cybertruck Line
June 18 - Tesla (NASDAQ:TSLA) shares fell nearly 4% on Tuesday after reports surfaced of a temporary production halt at its Austin, Texas facility, dampening investor sentiment ahead of the company's highly anticipated Robotaxi launch. The stock has declined about 22% so far this year. According to Business Insider, Tesla plans to suspend manufacturing of its Cybertruck and Model Y models for a week starting June 30. The company reportedly told employees the downtime would allow for maintenance and upgrades on the production lines. No details were provided on which areas may see output improvements. This marks at least the third production pause for Tesla in 2025. The EV maker has been under pressure following disappointing first-quarter results and increasing competition in the global electric vehicle market. Investor concerns have also been fueled by CEO Elon Musk's political ties and recent public disputes. Meanwhile, Tesla is preparing to roll out a pilot version of its Robotaxi service in Austin on June 22. The initiative will use Model Y vehicles equipped with the company's latest Full Self-Driving software. Local groups have voiced opposition to the program, citing safety and transparency concerns. Separately, Wells Fargo issued a downbeat outlook on Tesla's second-quarter performance. Analyst Colin Langan warned that deliveries would need to jump over 50% in June to meet Wall Street targets. He also forecast a $1.9 billion free cash flow deficit for the year and slashed his price target to $120, reflecting a possible 62% downside. Based on the one year price targets offered by 43 analysts, the average target price for Tesla Inc is $289.30 with a high estimate of $500.00 and a low estimate of $19.05. The average target implies a downside of -8.55% from the current price of $316.35. Based on GuruFocus estimates, the estimated GF Value for Tesla Inc in one year is $269.36, suggesting a downside of -14.85% from the current price of $316.35. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
