Elon Musk asked a US judge on Friday to throw out a $258 billion (roughly Rs. 21,20,200 crore) racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin. In an evening filing in Manhattan federal court, lawyers for Musk and his electric car company Tesla called the…
Nissan Motor on Monday raised its electrified car sales goals and said it would boost power train production in the United States, as it looks to catch up in a segment dominated by newer automakers such as Tesla. The Japanese automaker was a pioneer in electric vehicles (EVs) with its…
Elon Musk’s team has been exploring using as much as $3 billion in new fundraising to help repay some of the $13 billion in debt tacked onto Twitter for his buyout of the company, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. According to the…
Elon Musk took the witness stand Friday to defend a 2018 tweet claiming he had lined up the financing to take Tesla private in a deal that never came close to happening. The tweet resulted in a $40 million (roughly Rs. 323 crore) settlement with securities regulators. It also led…
Tesla shareholders argued it would be unfair to move the trial to Texas as requested by Musk, who has outraged many in Northern California with the steep job cuts he ordered at Twitter, a San Francisco company he bought in October. “What they refer to as ‘biased’ coverage is, in…
South Korea’s antitrust regulator said it would impose a KRW 2.85 billion (roughly Rs. 18 crore) fine on Tesla for failing to tell its customers about the shorter driving range of its electric vehicles (EVs) in low temperatures. The Korea Fair Trade Commission (KFTC) said that Tesla had exaggerated the…
Elon Musk, who heads five companies including Tesla and Twitter, said in a tweet on Friday that his companies will be well positioned in 2023 despite the possibility of a tough economy. Musk’s tweet comes a day after he raised the possibility of Twitter going bankrupt. Earlier in the day,…
Why is Elon Musk suddenly thinking about creating an “everything app,” and what does that even mean? The question arose after the billionaire Chief Executive of Tesla earlier this month reversed course on his decision not to buy Twitter. Musk completed his $44 billion (nearly Rs. 3,62,300 crore) acquisition of…
European Union and US officials expect to reach an agreement that would grant EU companies, including electric car makers, the same status as US ones in the US market, to avoid what the EU calls discrimination against its producers by the US Inflation Reduction Act. The EU says that while it allows government tax…
PayPal Holdings said it has no intention of fining customers for spreading misinformation, after attracting criticism for publishing a new user agreement outlining such a plan. The issue gained traction over the weekend after the company published policy updates prohibiting users from using the PayPal service for activities identified by…
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