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techkenyot.com May 24, 2019


Tesla Investors Sue to Stop Musk Tweeting About the Company

11 March 2019, 10:33 | Hattie Nash

Tesla Investors Sue to Stop Musk Tweeting About the Company

A Tesla

Tesla's China Gigafactory in 210-acre east of Shanghai will ramp up production of the Model 3 sedan for China market with 10,000 vehicles a week.

Nio's chief finance officer Xie Dongying also confirmed that the company will cease construction of a new plant in northern Shanghai's Jiading district. In the meanwhile, locally sourced funding is coming nicely together; a United States dollars 521 million credit line agreement is closed between the USA company and a syndicate of Chinese investors.

"His conduct has not only cost Tesla shareholders dearly but threatens to expose the company to even greater liability and litigation in the future", the statement further said.

Norway’s $1 trillion fund to dump oil and gas shares
The fund invests Norway's revenues from oil and gas production for future generations in stocks, bonds and real estate overseas . That oil and gas have contributed millions and millions of tons of carbon dioxide to the Earth's atmosphere during that time.

An average 18 percent decline in retail sales was reported for sedans, sport utility vehicles, multi-purpose vehicles, and minivans in February, according to the data from the China Passenger Car Association.

Battery-powered autos have been a rare bright spot amid the broader market's slowdown.

In July 2018, China raised tariffs on US autos another 25 percent, (from 15 percent to 40 percent) amid ongoing trade tensions in response to the Trump administration's tariffs on $200 billion worth of Chinese goods. - The Shanghai factory will allow the electric-car manufacturer to dodge the China-US tariff crossfire and can sell directly to the Chinese buyers. -China trade war as well. The city will have to wait until Tesla, which recently began construction on its own factory in Shanghai, has reached production capacity before it can approve other manufacturing sites, according to the source. Tesla said it raised $521million from Chinese banks as a term loan for raising the local factory.

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Keeping prices in check will also help Tesla fend off competition from a swathe of domestic electric vehicle startups such as Nio Inc NIO.N, Byton, and XPeng Motor.

Tesla has said the Gigafactory will cost around $2 billion, and could help the company buffer against the ongoing trade war between the USA and China.

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