Tesla loses a third of its value in a week

Tesla has seen a huge drop in its market capitalisation after it was left out of America’s S&P 500 list of leading blue-chip companies. In total it has lost almost a fifth of its value, with around US$145 billion (£111 billion) since last Monday. This has personally cost owner Elon Musk around $30 billion. The […]

Musk’s wealth trebles during Covid crisis

Tesla founder Elon Musk’s personal fortune has trebled this year to more than US$90 billion (approx £67 billion). The Telegraph reports that Tesla, share price has risen more than three hundred per cent this year, meaning it has overtaken Toyota as the world’s most valuable car brand. But the industry is asking why. ““The share […]

Musk “hoping to introduce low-cost battery this year”

It’s reported Tesla is planning to launch a new battery solution which will make its electric car prices comparable with traditional internal combustion engined models. Reuters reports that CEO Elon Musk plans to introduce a new low-cost, long-life battery in its Model 3 sedan in China later this year or early next which are designed […]