The Indian-American politician's move is also being seen as strategic by some netizens.
US tariffs announced by President Trump lead to massive losses for top tech billionaires and global market turmoil
Tesla’s hiring and expansion efforts in India highlight its commitment to cash in on the burgeoning electric vehicle market.
M&M vs Tesla: UBS said it sees limited impact from Tesla's potential entry into India as the Model 3 (highest selling model in the US), currently priced at $35,000 (Rs 31 lakh), is likely not well-suited to the Indian market.
Tesla Share Price: Trump Media spiked 30 per cent after the 78-year-old was elected US president for the second time. Trump owns around 57 per cent of Trump Media, which trades under the ticker DJT.
Tesla CEO Elon Musk Elon asserts that the market for humanoid robots, like the Tesla Optimus Robot, will be 1 billion units per year, and Tesla can make $1 trillion a year selling them. He predicts that they will ultimately sell for around $20,000 at a cost of $10,000, and Tesla will capture at least a 10% market share of the humanoid robot market. Musk believes that there will be at least one robot per human, and perhaps even more than that.
While the full scale of these new layoffs is unclear, Bloomberg has reported that Tesla’s total headcount reduction that began earlier this month could end up being as high as 20 percent of its workforce, or well in excess of 20,000 employees.
Shares of Menlo Park, California-based Meta dropped the most since October 2022 on Thursday after the company increased spending estimates for the year and projected second-quarter sales that were below Wall Street’s expectations.
The Austin, Texas-based company reported delivering 386,810 vehicles from January through March, nearly 9% lower than the 423,000 sold in the same quarter last year.
US interest in Tesla cars is declining due to CEO Elon Musk's controversial public persona, while Mercedes, BMW, and Audi's gas and EV models show rising consumer interest.
Xiaomi's SU7 electric vehicle launch has boosted its market value by $7.6 billion, despite projected loss per car sold.