We’re the ‘underdog’ for gigafactory choice, but Tesla once an ‘underdog’: Oklahoma official

Oklahoma is holding out hope that Tesla will choose Tulsa as the location for the electric vehicle maker’s next gigafactory.

“There is no question that we are the underdog, but so has Tesla been the underdog for a long time,” Sean Kouplen, Oklahoma secretary of commerce, told Yahoo Finance’s On The Move.

Tulsa is up against frontrunner Austin, Texas for Tesla’s upcoming Cybertruck gigafactory.

“We, just like Austin, are putting our best foot forward to try to attract them to our state,” said Kouplen. “Certainly we think we have a very competitive package.”

“We feel like we have a better location. We are a manufacturing hub. That’s what we do here, so we have a tremendous work force,” he added.

Landing Tesla in Tulsa would be a boon for the second largest city of Oklahoma.

“When you think about adding between 7,000 and 20,000 jobs to a city of a

Read More

Tesla CEO Elon Musk lambasts ‘fascist’ coronavirus stay-in-place orders

Tesla (TSLA) CEO Elon Musk assailed the social distancing measures in place over the past several weeks in the electric car-maker’s home state of California and across the country, which led to a weeks-long closure at the company’s flagship Fremont factory.

“I would call it forcibly imprisoning people in their homes against all their constitutional rights … breaking people’s freedoms in ways that are horrible and wrong and not why people came to America,” Musk said during a public call with analysts and investors after reporting first-quarter earnings results Wednesday afternoon, adding an expletive. “It will cause great harm, not just to Tesla, but to any company. And while Tesla will weather the storm, there are many small companies that will not.”

“If somebody wants to stay in their house, that’s great,” Musk added. “They should be allowed to stay in the house, and they should not be compelled to

Read More

Facebook, Microsoft and Tesla report earnings: Tech

Wednesday, April 29, 2020

Get Yahoo Finance Tech, a weekly newsletter featuring our original content on the industry, sent directly to your inbox every Wednesday by 4 p.m. ET. Subscribe

FILE – This March 29, 2018, file photo shows the Facebook logo on screens at the Nasdaq MarketSite, in New York’s Times Square. The European Union’s highest court ruled Thursday, Oct. 3, 2019, that individual member countries can force Facebook to remove what they regard as unlawful material from the social network all over the world, a decision experts say could hinder free speech online and put a heavy burden on tech companies. (AP Photo/Richard Drew, File)

 Facebook active users jump in Q1 as coronavirus crisis widens, sees ‘signs of stability’ in ad market

Microsoft Q3 earnings: Cloud unit jumps 27% year-over-year

Tesla reports better than expected Q1 sales, pushes semi deliveries to 2021


Read More

Tesla delivers better than expected 88,400 vehicles in Q1

Tesla (TSLA) said Thursday it delivered 88,400 vehicles during the first three months of the year, topping expectations but declining against the prior quarter as the global auto industry suffered a demand hit and manufacturing pause as the coronavirus pandemic escalated.

Consensus analysts expected Tesla would deliver about 78,100 vehicles in the first quarter, according to data compiled by Bloomberg. The quarter marked the first in which Tesla began delivering its new Model Y cross-over vehicle and ramped production at its recently completed Shanghai Gigafactory.

The results marked a pull-back from the fourth quarter of 2019, when Tesla delivered a record 112,000 vehicles.

They were, however, still an improvement from Tesla’s 77,100 deliveries in the comparable first quarter of last year, a time when the company cited logistics issues in sending vehicles to customers in Europe and China. Tesla characterized its first-quarter 2020 deliveries and sales results as its

Read More

Coronavirus pandemic ruins outlook for electric car makers like Tesla

With Detroit’s Big Three automakers and Elon Musk’s Tesla making ventilators to support the coronavirus pandemic relief effort, no doubt the shift to electronic and autonomous cars has suffered a major setback.

For one, electric and hybrid cars aren’t being made right now as plants are shut down to support social distancing. Who knows when auto production restarts. Moreover, it’s unclear what demand will be like for these often more expensive cars when consumers try to catch up on bills later this year after being laid off this spring.

Meanwhile, automakers have temporarily halted investments in the technology designed to power the cars of the future (not to mention a good chunk of their advertising for them).

And last but not least, the plunge in oil prices — which has sent gas prices to below $1.00 a gallon in some parts of the country — makes it more attractive for

Read More