Tesla

Elon Musk internally announced that about 500 people, or the entire team that works on superchargers for Tesla, were being let go this week, according to The Financial Times.

Tesla could start selling its humanoid Optimus robot by the end of next year and one day will rake in more cash from robots than cars, CEO Elon Musk told investors on Tuesday, another ambitious claim from the billionaire that experts said might just be within the realm of possibility—though is highly unlikely to make the carmaker any money in the near future.

There are unusually high stakes surrounding Tesla’s upcoming earnings report, as Wall Street prepares for what is expected to be the company’s worst quarter in years by most mainstream metrics and investors prepare for more details on projects the company’s enigmatic CEO Elon Musk claims he’s close to betting the $450 billion company on.

Tesla stock notched another grim milestone Friday, extending stock year-to-date dive to over 40%, and there remains plenty of cause to remain highly cautious about the stock in the near term even as it grows cheaper.

Regulators said the issue was likely caused by an unapproved soap used during manufacturing.

“There is nothing I hate more, but it must be done,” Tesla’s centibillionaire CEO Elon Musk reportedly said about his company’s decision to eliminate more than 10% of its workforce.

Demand is high and supply is low for the CyberBeast, the highest-end version of Tesla’s cyber truck.

Billionaire Tesla CEO Elon Musk announced Friday afternoon in a post on X that Tesla will unveil its highly anticipated robotaxi later this summer—delivering an after-hours boost to the company’s beleaguered stock.

It was a “nightmare quarter” for Elon Musk’s electric vehicle titan.

Musk’s net worth is down almost $60 billion in 2024 alone, according to Forbes’ estimates, as Tesla stock tanked and a judge swatted down Musk’s record compensation package.