Tesla Inc., the leading US electric vehicle manufacturer, announced a significant decline in its financial performance for the first quarter of 2024. The company reported a 9 percent drop in total revenue, which fell to $21.3 billion compared to the same period last year.
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Samsung and Tesla Partner at CES 2024 for SmartThings Energy
Samsung Electronics has announced a strategic integration with Tesla, set to debut at CES 2024. This collaboration leverages Tesla’s open APIs to seamlessly connect SmartThings Energy with a range of Tesla products, including Powerwall home batteries, Solar Inverters, Wall Connector charging solutions, and electric vehicles (EVs).
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Tesla’s Model 3 Receives Captivating Aesthetic, Range Upgrades
Tesla has revealed captivating aesthetic enhancements, extended driving capabilities, and feature refinements for the Tesla Model 3.
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Tesla Vehicles Secure Top Four Spots in Cars.com ‘American-Made Index’
Tesla’s electric vehicles have dominated the prestigious Cars.com ‘American-Made Index,’ securing the top four spots out of a pool of 100 vehicles.
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Tesla Offers $500 Rebate on Powerwall Installations
Tesla is currently offering a $500 rebate for each Powerwall installation between June 15, 2023, and October 31, 2023.
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Twitter moves court against Musk for breaching $44bn deal
Twitter Inc. on Tuesday reportedly filed a case against Elon Musk, the CEO Tesla Inc. for cancelling $44 billion purchase deal.
The Twitter filed case against Elon Musk in the Delaware Court of Chancery to hold Musk to pay the amount of $44 billion for the deal of Twitter.
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The CEO of Tesla, Inc., Elon Musk decides to terminate the $44 billion deal to buy Twitter claiming about the multiple violations in the agreement.
Elon Musk claimed that the deal of purchasing Twitter was canceled because the Twitter breached the deal by failing to hand over data. He demanded that the number of bots and spam accounts on the platform should be evaluated.
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The legal experts said that the dispute could result in the involvement of judge forcing Musk to complete the deal or forcing him to pay a $1 billion breakup fee, or other scenarios including a settlement, renegotiation of the purchase price, or even Musk walking away without paying anything.
In May, Musk said that the deal was “temporarily on hold” as he was waiting for the dates on the number of fake and spam accounts on Twitter.
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The billionaire businessman had asked for evidence to back the company’s assertion that spam and bot accounts make up less than 5% of its total users.
In a letter filed with the US Securities and Exchange Commission, Musk’s lawyer said that the Twitter had failed or refused to provide this information.
According to the letter: “Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information.”