TESLA INC (TL0)
Summary
TL0 Chart
Tesla's battle with the California Department of Motor Vehicles isn't over after all
Tesla has filed a lawsuit against the California Department of Motor Vehicles in an attempt to overturn an agency ruling. The state DMV ruled that Tesla used deceptive marketing to overstate the automated driving capabilities of its vehicles, thereby violating state law.
Tesla sues California DMV to reverse ruling that company engaged in false advertising on FSD
Tesla is suing the California DMV to try to shed the label of "false advertiser." The California DMV previously ruled that Elon Musk's automaker falsely promoted its cars' self-driving capabilities.
Why Tesla stock is down over 2% on Monday
Tesla stock declined at the start of the new trading week, as investors assessed intensifying competition in autonomous driving and continued weakness in electric-vehicle demand. Tesla stock was down about 2% at $408.60 in early trading.
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TESLA INC Profile
| Automobiles Industry | Consumer Discretionary Sector | Elon R. Musk CEO | XHAN Exchange | US88160R1014 ISIN |
| US Country | 125,665 Employees | - Last Dividend | 25 Aug 2022 Last Split | 29 Jun 2010 IPO Date |
Overview
Tesla, Inc., a leader in the electric vehicle and clean energy sector, designs, develops, manufactures, leases, and sells a wide range of products, including electric vehicles (EVs) and energy generation and storage systems. With operations spanning across the United States, China, and other international markets, Tesla has positioned itself as a pivotal player in promoting sustainable transportation and energy solutions. The company operates through two main segments: Automotive, focusing on electric vehicles and related services, and Energy Generation and Storage, dedicated to renewable energy solutions. Initially founded as Tesla Motors, Inc. in 2003, the company rebranded to Tesla, Inc. in February 2017 and is headquartered in Austin, Texas. Tesla's innovative approach towards integrating technology with environmental sustainability has significantly contributed to its reputation as a trailblazer in the industry.
Products and Services
- Electric Vehicles: Tesla manufactures and sells high-performance electric vehicles, including sedans and sport utility vehicles. The product lineup is designed to cater to a broad market segment with direct and used vehicle sales. Tesla's vehicles are widely recognized for their innovation, performance, and contribution to reducing carbon emissions.
- Energy Generation and Storage: This segment is comprised of the design, manufacture, installation, sale, and leasing of solar energy generation systems and energy storage products. Tesla's energy products are targeted towards residential, commercial, and industrial customers, as well as utilities. The aim is to provide sustainable energy solutions that can operate independently or in conjunction with the grid, thereby reducing reliance on fossil fuels and promoting environmental sustainability.
Tesla's Automotive segment also includes various ancillary services related to its vehicles, such as automotive regulatory credits, non-warranty after-sales services, body shop and parts, supercharging, and in-app upgrades. Additionally, Tesla offers purchase financing and leasing services, making its electric vehicles more accessible to a wider audience. The company enhances customer experience with services for electric vehicles through its company-owned service locations, Tesla mobile service technicians, and comprehensive vehicle warranties and extended service plans.
Tesla's engagement in the energy sector extends to providing service, repairs, and various financing options to its energy product customers. These services ensure the longevity and effectiveness of Tesla's solar and energy storage solutions, further affirming Tesla's commitment to sustainable energy. Customers can access these products and services through Tesla's website, stores, galleries, and a network of channel partners.
