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Tesla executives expressed concern after Elon Musk denied a report about the cancellation of a $25,000 electric vehicle project, which was anticipated to significantly boost sales. Musk's denial, posted on X, temporarily halted a 6% decline in Tesla's stock, which ultimately closed down 3.6%.
Elon Musk's xAI is aiming for a $113 billion valuation through a $300 million share sale, allowing employees to sell shares to investors. Following this secondary stock offer, a larger investment round is anticipated, with xAI having previously acquired Musk's social media platform, X, for a valuation of $80 billion.
Tesla is exploring entry into the Indian market but has no plans for local manufacturing, focusing instead on showroom operations, according to Union Minister HD Kumaraswamy. The Indian government is targeting companies like Mercedes Benz, Hyundai, Kia, and Volkswagen to establish manufacturing in the country under a new scheme promoting electric vehicle production. This initiative allows global manufacturers to import electric four-wheelers at a reduced customs duty, provided they invest significantly in India.
Tesla is unlikely to manufacture electric vehicles in India soon, as the company focuses on selling imported cars due to high import tariffs and regulatory challenges. Despite a revised EV policy reducing import duties for local production, Tesla has not made official commitments to manufacturing, while other automakers show interest in the Indian market. The price sensitivity of Indian consumers further complicates Tesla's entry, as its models are positioned in the luxury segment, which constitutes a small portion of the market.
US President Donald Trump and tech billionaire Elon Musk are experiencing a rift following significant changes involving their associates. Trump has rescinded the nomination of Jared Isaacman to lead NASA, while Musk has stepped down from his advisory role in the Department of Government Efficiency (DOGE). This shift comes amid allegations of drug use reported by the New York Times.
OpenAI is seeking to maintain its countersuit against Elon Musk, asserting that his motion to dismiss lacks factual basis. The company claims Musk's $97.4 billion takeover bid was a "sham bid" intended to manipulate the market, and it argues that the countersuit should be included in the upcoming expedited trial.
OpenAI is pushing to maintain its countersuit against Elon Musk, asserting that his motion to dismiss lacks factual support. The company claims Musk's recent $97.4 billion takeover bid was a "sham bid" intended to undermine its operations, and it seeks to include this countersuit in the upcoming expedited trial.
Elon Musk has officially announced his resignation as a U.S. special government employee and the head of the Department of Government Efficiency, commonly referred to as DOGE. This move marks a significant shift as Silicon Valley enters a new phase of exploration and adaptation.
Dell has raised its annual profit forecast due to a surge in demand for its AI-powered servers, which utilize Nvidia chips. The company reported $12.1 billion in AI orders this quarter, exceeding total shipments from the previous year, leading to a 2% increase in shares during extended trading. Despite strong demand, high production costs and competition continue to pressure profit margins.
TikTok is enhancing its local services in Indonesia through TikTok Go, an affiliate program that allows creators to promote discounts at partner merchants. Users can redeem offers by visiting outlets and presenting a QR code, but the model raises questions about sustainability for creators and merchants alike.In the automotive sector, BYD's Denza D9 has surpassed Toyota's Alphard in sales, with over 3,000 units sold since its launch, benefiting from lower costs and government tax breaks for electric vehicles. This shift signals potential challenges for Toyota, which relies on brand loyalty in the competitive Indonesian market.
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tiktok launches affiliate program to boost local services and creator income
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