What's this? This is an unbiased just-the-facts news timeline ('newsline') about Tesla Inc., created by Newslines contributors. Become a contributor

Tesla Inc.

Tesla Inc.111 posts

Tesla Inc. is a California-based company that builds electric cars, batteries and powertrains. It was founded in 2003 and initially financed by Martin Eberhard and Marc Tarpenning. Elon Musk became its chairman a year later and, in 2008, its CEO. The company produces the Model S, Model X and Model Y. It has stores in North America, Europe, Asia and Australia.

Biography view > Click for Latest News view
1 Feb, 2023

Tesla lost $140m on Bitcoin in 2022

Financial Report0 Comments

According to SEC filings, Tesla lost $140m on its Bitcoin investments in 2022, losing $204m overall, although it gained back $64m through trading. The company holds $184m in Bitcoin, having offloaded most of its initial £1.5 billion purchase a few weeks after it was purchased in early 2021.

20 Apr, 2023

Tesla stock drops nearly 10% over continued price cuts

Financial Report0 Comments

Tesla stock (TSLA) drops nearly 10%, nearly $50 billion in market capitalisation, after Musk says the electric vehicle manufacturer will keep cutting prices in a bid to drive up demand in a weak economy. Focusing on sales growth rather than immediate profit, Musk said:

We’ve taken a view that pushing for higher volumes and a larger fleet is the right choice here versus a lower volume and a higher margin.

With this drop, Tesla’s market capitalization ending below Meta Platforms’ for the first time since 2021.