Tesla CEO Elon Musk has fired Omead Afshar, the automaker's vice president of manufacturing and operations, CNBC confirmed. Afshar's departure comes after year-over-year declines in car sales in Tesla's key markets.
I reiterate my Buy rating on Tesla, Inc. with a $418 price target, reflecting 28% upside as autonomous mobility gains traction. Tesla's robotaxi launch in Austin marks a pivotal milestone, with vertical integration enabling faster, cheaper scaling than Waymo and unlocking recurring software revenue. Despite short-term delivery and margin pressures, Tesla's operational efficiency and long-term earnings growth potential remain compelling, especially as robotaxi adoption accelerates.
Omead Afshar, Tesla's vice president in charge of sales and manufacturing in North America and Europe, has reportedly been fired by CEO Elon Musk, according to Forbes.
A Tesla executive and key confidant to CEO Elon Musk, Omead Afshar, has left the company, according to people familiar with the matter. This latest high-level departure comes during a volatile period for the electric vehicle maker.
Tesla executive and a confidant of CEO Elon Musk, Omead Ashfar, has left the company, Bloomberg News reported on Thursday, citing people familiar with the matter.
The aviation sector's challenges with decarbonisation have been highlighted by broker Panmure Gordon in collaboration with Agency Partners, as while other industries are reducing greenhouse gas emissions, those from airlines are set to continue to grow and could face a government or regulatory crackdown. Aviation accounts for around 3% of global CO2 emissions but could rise to over 20% by 2050, about a quarter of all human-caused emissions, due to growth in flight numbers.
Tesla's transition from carmaker to high-tech robotics company is the reason a Benchmark analyst boosted his stock-price target to the second-highest on Wall Street.
Shares of Tesla Inc. (NASDAQ: TSLA) are trading for less than 2% higher than a week ago, as the EV maker's robotaxi tests get underway and sales figures in Europe continue to disappoint.
Waymo was last valued at just $45 billion, while autonomous technology drives most of Tesla's $1 trillion value.
Despite initial investor enthusiasm surrounding the launch of Tesla's (NASDAQ: TSLA) robotaxi public service on June 22 in Austin, a Wall Street analyst is cautioning that the electric vehicle maker's stock outlook remains shaky.
TSLA's robotaxi launch in Austin sparks safety concerns after traffic breaches trigger a federal probe.
Tesla's new car sales plummeted 27.9% in May from the year before, according to data from the European Automobile Manufacturers Association.