Elon Musk will face a critical test at Tesla's Investor Day on March 1. The company aims to convince investors that even though rivals are catching up, the electric-vehicle pioneer can make another leap forward to widen its lead
DETROIT - Elon Musk will confront a critical challenge during Tesla’s Investor Day on March 1: Convincing investors that even though rivals are catching up, the electric-vehicle pioneer can make another leap forward to widen its lead.
While Tesla narrowed VW’s lead in Europe, the U.S. automaker surrendered ground in Asia-Pacific as well as its home market as the competition heats up.The most significant challenges to Tesla are coming from established automakers and a group of Chinese EV manufacturers. Several U.S. EV startups that hoped to ride Tesla’s coattails are struggling, including luxury EV maker Lucid, whose shares plunged 16% on Thursday after disappointing sales and financial results.
In China, Tesla has had to cut prices on its best-selling models under growing pressure from domestic Chinese manufacturers including BYD, Geely Automobile’s Zeekr brand and Nio. In the nearly seven years since Musk published his “Master Plan Part Deux” in July 2016, Tesla pulled ahead of established automakers and EV startups in most important areas of electric vehicle design, digital features and manufacturing.
Fast-forward to today, and Tesla’s “Full Self Driving Beta” automated driving is still classified by the company and federal regulators as a “Level 2” driver assistance system that requires the human motorist to be ready to take control at all times. Such systems are common in the industry. Now, rivals are copying the company’s production technology, buying some of the same equipment Tesla uses. IDRA, the Italian company that builds huge presses to form large one-piece castings that are the building blocks of Tesla vehicles, said it is now getting orders from other automakers.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk Meets With California Gov. Newsom at Tesla's New Engineering Headquarters to Discuss ExpansionThe expansion will focus on hiring engineers proficient in research development and artificial intelligence.
Read more »
Elon Musk says California is home to Tesla’s engineering headquarters | EngadgetDespite moving its corporate headquarters to Texas, Tesla now considers California its global engineering home and “effectively a headquarters of Tesla.”.
Read more »
Elon Musk’s Latest Tesla Cybertruck Video Suggests the EV Pickup Might Actually Arrive This YearAre we finally going to see the new Tesla Cybertruck this year? Elon Musk just released an 8-second clip that has us wondering if the wait is finally over.
Read more »
Tesla investor Gerber ends bid for EV maker’s boardTesla Inc. investor Ross Gerber has dropped his bid for a seat at the electric-vehicle maker’s board, saying in a tweet late Friday that he felt...
Read more »
Tesla cooperates with EV-friendly California as Musk reveals engineering headquarters with NewsomIn 2021 the electric vehicle-maker announced a jolting exit of its corporate offices from the state. Now, there appears to be amicable energy between the two.
Read more »
Tesla Returns to California, Musk and Newsom AnnounceElon Musk and Gavin Newsom announced Wednesday that Tesla would return to California to make the company “dual-headquartered” with Texas. See potential bias and similarities in coverage from FoxBusiness, CNBC and SFGate: ElonMusk GavinNewsom
Read more »