Global News

[ad_1] Elon Musk, the owner of social media platform and microblogging service X and the renowned company Tesla, which mainly manufactures cars in the United States, has once again reclaimed the title as the world’s richest person. According to Bloomberg Billionaires Inde, tech tycoon Elon Musk’s wealth has surged to $232 billion in 2023, a $92 billion increase in the past year. According to Bloomberg’s report, Elon Musk’s wealth has increased due to a 12.95% stake in his company Tesla (an automotive company), which has performed exceptionally well this year. The world’s most expensive carmaker concluded the year with a market value of $248 billion, which is 130% higher than the previous year. In addition, despite the ups and downs of the microblogging website X (formerly Twitter), Elon Musk’s wealth increased. According to Bloomberg Billionaires Index, there has been an increase of more than $1.5 trillion in the combined wealth of the world’s 500 richest individuals this

[ad_1] Two US Senators have slammed Elon Musk-run Tesla for user privacy violation after reports surfaced that its employees shared video footage captured by its customers` vehicles of car crashes, road rage incidents, and other potentially embarrassing clips. Democrats Ed Markey (D-MA) and Richard Blumenthal (D-CT) accused the electric car maker of showing "willful disregard" for its customers` privacy, after a Reuters report raised "serious questions about Tesla`s management practices." Also read:  2023 Kia EV6 Electric Car Bookings Re-Open In India, Prices Start At Rs 60.95 Lakh "According to an alarming new press report, Tesla employees have shared private photos and videos captured by cameras in Tesla customers` vehicles. Although vehicle cameras have the potential to improve safety, these features do not need to come at the expense of consumer privacy," they wrote to Tesla. Tesla vehicles capture huge amounts of consumer data, includi

[ad_1] SINGAPORE: Tesla Inc on Friday slashed prices for its electric vehicles in Europe, Israel and Singapore, expanding a global discount drive it began in China in January while raising concerns about its industry-leading profit margin. Tesla last week reported first-quarter deliveries up just 4% from the previous quarter despite offering discounts in the United States, China, Japan, Australia and South Korea aimed at spurring demand. Days after releasing the disappointing delivery data, Tesla announced its fifth vehicle price reduction this year in the US market, as Washington prepares to introduce tougher standards that will limit EV tax credits. In 2022, the world’s most valuable automaker also missed CEO Elon Musk’s delivery target of 50% growth, held to a 40% increase due to logistical issues and slowing demand. Tesla said on Friday it cut prices in numerous European markets including Germany and France because of a scaling up and improvement in its production capac

[ad_1] Published By : Sheen Kachroo Last Updated: August 13, 2023, 16:27 IST Vaibhav Taneja obtained a bachelor's degree in commerce from Delhi University. Between 1997 and 2000, he also pursued his chartered accountancy at ICAI Vaibhav Taneja assumed the position after the previous finance chief Zachary Kirkhorn stepped down after serving 13 years in Tesla until the end of the year Vaibhav Taneja, an alumnus of the Institute of Chartered Accountants of India (ICAI), was honoured by the organisation for his appointment the new Chief Financial Officer (CFO) of Tesla. Taneja assumed the position after the previous finance chief Zachary Kirkhorn stepped down. The Indian-origin entrepreneur will hold the post of both Chief Accounting Officer (CAO) and CFO at Tesla. ICAI applauded its alumnus in a post for his enormous accomplishment and for serving as an example to all chartered accountants. The organsiation wrote, “Congratulations to CA. @VaibhavIanej on his remarkable achieveme

[ad_1] Tesla's directors have agreed to return more than $700 million to the company after fielding accusations they grossly overpaid themselves, marking one of the largest corporate settlements in history, Reuters reported.  The settlement, which was filed in the Delaware Chancery Court on Monday, shows the board members have made a deal to give back $735 million to the electric vehicle company, including $3.1 million in stock options, according to the news service. The directors have also agreed to enact corporate-governance changes to how board members' compensation issues are assessed, Bloomberg Law reported . The agreement concludes a lawsuit filed in 2020 alleging Tesla's directors "breached their fiduciary duties by awarding themselves excessive and unfair compensation," a  filing  shows. The directors, including Tesla CEO Elon Musk, Oracle Corp. co-founder Larry Ellison and Musk's brother, Kimbal Musk, awarded themselves roughly

[ad_1] A little-known consumer advocacy group chose an unusual — and expensive — way to draw attention to what it sees as the threat to life and limb posed by Tesla vehicles' "Full Self-Driving" system: It bought a Super Bowl ad. During Sunday's broadcast of Super Bow LVII , a spot from The Dawn Project said Tesla's self-driving technology is built on "woefully inept engineering" that poses a treat to pedestrians and drivers. The software also can cause the electric car maker's vehicles to swerve into oncoming traffic or drive on the wrong side of the road, the nonprofit group claims.  "Tesla has known for more than six months that its Full Self-Driving software will run down a child in a crosswalk, along with hundreds of other critical safety defects reported by us and other beta testers," The Dawn Project's Founder Dan O'Dowd said in a statement Sunday.  He also urged the federal N

[ad_1] New Delhi:  Nothing smartphone maker company founder CEO Carl Pei has shared his predictions for 2023. Some of the predictions are terrific in the 10-points list. He believed that humanity will see one AI killer app in 2023. He added that we hadn’t seen nothing yet. ALSO READ |  From Apple Ultra Watch to Meta VR headset; Top 5 gadgets that grabbed attention of Indians in 2022 - In PICS Here are his all 10 predictions. At least one AI killer app will emerge (we haven’t seen nothing yet). Tesla becomes just another car brand, as traditional car brands catch up. Twitter does really well due to Elon spending lots of time on it. The metaverse remains far from mass adoption. …But Mark turns things around at Meta by running a tighter ship. Apple shares go up because it’s a very high quality business. The smartphone keeps getting stronger as a distribution tool for software and services. World governments make tougher moves against Apple and t

[ad_1] Expert analyzes the rise of more affordable electric vehicles - CBS News Watch CBS News Tom Narayan, the lead equity analyst for Global Autos at RBC Capital Markets, joins CBS News' Lilia Luciano and Tony Dokoupil to discuss why automakers are rolling out more electric vehicles and who is eligible for tax credits connected to their purchase. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On [ad_2] Source link https://worldnews2023.com/economy/expert-analyzes-the-rise-of-more-affordable-electric-vehicles/?feed_id=294106&_unique_id=660370ed81636

[ad_1] Biden administration officials announced a significant step Wednesday in moving the U.S. toward a more expansive and cohesive network of EV charging stations. Part of the move includes a major concession from EV market  leader Tesla, which owns and operates an extensive network of proprietary "superchargers" for its cars. But now, White House infrastructure coordinator Mitch Landrieu says the Elon Musk-led company has agreed to open part of its charging network to non-Tesla vehicles.   "These recent and new commitments will make more public chargers available for all EVs," Landrieu said Tuesday on a background call with reporters. "With announcements like today's and the overall growth we're seeing, it's clear that this administration is making incredible progress towards building our electric future."  Some $7.5 billion from the Infrastructure Investment and Jobs Act will be spent on bu

[ad_1] Challenging Elon Musk's full self-driving claims, a Tesla whistleblower has reportedly leaked 100GB of data to a German media outlet that contains thousands of customer complaints about the automaker's Full Self-Driving (FSD) features. The documents obtained by Handelsblatt detail about 2,400 self-acceleration issues and more than 1,500 braking problems with Tesla cars. The Tesla FSD complaints were reported across the US, Europe and Asia from 2015 to March 2022, reports The Verge. According to Handelsblatt, there were 139 reports of "unintentional emergency braking" and 383 reports of "phantom stops" from false collision warnings from customers. According to the media company, when they made Tesla aware about the data it received, the electric car-maker allegedly "demanded that the data be deleted and spoke of data theft." Some of the customer incidents include descriptions of how cars "suddenly brake or accelerate abruptly.&

[ad_1] Tesla's directors have agreed to return more than $700 million to the company after fielding accusations they grossly overpaid themselves, marking one of the largest corporate settlements in history, Reuters reported.  The settlement, which was filed in the Delaware Chancery Court on Monday, shows the board members have made a deal to give back $735 million to the electric vehicle company, including $3.1 million in stock options, according to the news service. The directors have also agreed to enact corporate-governance changes to how board members' compensation issues are assessed, Bloomberg Law reported . The agreement concludes a lawsuit filed in 2020 alleging Tesla's directors "breached their fiduciary duties by awarding themselves excessive and unfair compensation," a  filing  shows. The directors, including Tesla CEO Elon Musk, Oracle Corp. co-founder Larry Ellison and Musk's brother, Kimbal Musk, awarded themselves roughly

[ad_1] Tesla has manufactured its first Cybertruck nearly four years after founder and CEO Elon Musk touted the automaker's first electric pickup. Tesla workers at the company's so-called Gigafactory near Austin, Texas, tweeted a photo of the completed vehicle on Saturday with the caption "First Cybertruck built in Giga Texas." The feat comes four years after CEO Elon Musk introduced the silver, futuristic-looking vehicle.  Musk originally unveiled the Cybertruck in 2019 with the goal of starting production in late 2021. First Cybertruck built at Giga Texas! 🤠 pic.twitter.com/ODRhHVsd0t — Tesla (@Tesla) July 15, 2023 The Cybertruck's stainless steel alloy body is strong enough to withstand certain types of small arms fire, Musk has said. He has also estimated the truck will be capable of towing 14,000 pounds. It's unclear when Cybertrucks will be available for purchase from a

[ad_1] A growing number of automakers are modifying their electric vehicles so drivers can recharge them using Tesla's network of superchargers. Mercedes-Benz said Friday that its EV customers will get access to more than 12,000 Tesla superchargers starting next year. The German company joins car makers including  Ford ,  General Motors  and Rivian to adopt Tesla's technology. Mercedes' move is part of a larger effort across the auto industry to offer drivers a universal charging port for EVs irrespective of the vehicle manufacturer. For now, Mercedes drivers must use one of 60,000 "Mercedes me Charge" stations across the U.S. to recharge their electric vehicle. But EV owners will eventually be equipped an adapter so their vehicle connects to a Tesla supercharger, the automaker said. Electric vehicles made in 2025 and beyond will already have the supercharger port, the company noted.  "We are dedicated to elev