logo
Tesla initiates temporary shutdown that will impact 2 popular models — here's what's happening

Tesla initiates temporary shutdown that will impact 2 popular models — here's what's happening

Yahoo12 hours ago
Tesla is pausing Model Y and Cybertruck production at its Austin, Texas, facility. This is the automaker's third shutdown, and it will begin the first week of July. Observers are noting the potential impact on customers awaiting vehicles.
According to Business Insider, Tesla's weeklong shutdown is for production line maintenance. The company intends to ramp up production in the future. It did not specify which lines would increase output.
During the pause, employees can use paid time off or opt for training and cleaning tasks.
The halt aligns with its robotaxi launch, which kicked off June 22, as CEO Elon Musk stated that the first rides will be in Model Ys.
For customers, production pauses can lead to delayed vehicle deliveries or vehicle unavailability.
Common auto industry concerns include parts shortages and inventory management. Tesla paused Cybertruck production for three days in December and reduced production in April because of a battery supply issue.
While perhaps necessary for long-term efficiency, pauses can create short-term uncertainty. Downturns in manufacturing may create environmental risks, too, including with e-waste disposal, metal contamination, and chemical runoff.
Consistent, growing production of electric vehicles is accelerating the transition from gas-powered cars. Significant shutdowns in EV manufacturing could impede this shift, which reduces transportation-based pollution.
Though Tesla reported a 13% year-over-year drop in deliveries in the first quarter, it will continue to play a major part in EV adoption.
The automotive giant's goal is to improve production lines and increase output. Automakers such as Ford and GM have also paused production, a standard industry practice. Still, under the Inflation Reduction Act, manufacturers are incentivized to produce clean-energy EVs, batteries, and solar panels.
EV consumers should always research availability and wait times of different brands. The market is evolving as manufacturers offer competing products.
If you were to install home solar panels, which of these factors would be your primary motivation?
Energy independence
Lower power bills
Helping the planet
No chance I ever go solar
Click your choice to see results and speak your mind.
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Asian shares are mixed, tracking Wall Street split as momentum slows and Tesla drops
Asian shares are mixed, tracking Wall Street split as momentum slows and Tesla drops

Yahoo

time33 minutes ago

  • Yahoo

Asian shares are mixed, tracking Wall Street split as momentum slows and Tesla drops

MANILA, Philippines (AP) — Asian shares were mixed on Wednesday following a similar drift overnight on Wall Street as losses for Tesla and other technology shares put a brake on the momentum of recent record highs. U.S. futures edged higher and oil prices were little changed. Shares fell in Japan, hit by jitters over a lack of progress in trade talks with the U.S., but they recovered much of their lost ground, trading 0.3% lower at 39,874.33. Stephen Innes, managing partner at SPI Asset Management, pointed to President Donald Trump's declaration that there will be no extension of his tariff pause, which ends on July 9. 'The message was blunt: if Tokyo won't yield, it will pay. Tariffs of 30%, 35% or 'whatever number we determine' are now openly back on the table,' he said. 'The negotiating table just became a pressure cooker.' Hong Kong's Hang Seng advanced 0.6% to 24,220.65 and the Shanghai Composite index was down just over 1 point at 3,456.51. South Korea's KOSPI fell 1.2% to 3,053.39 as inflation rose in June. Australia's S&P ASX 200 edged up 0.4% to 8,580.70. On Tuesday, the S&P 500 dipped 0.1% to 6,198.01 for its first loss in four days. The Dow Jones Industrial Average rose 0.9% to 44,494.94, and the Nasdaq composite fell 0.8% to 20,202.89. Tesla tugged on the market as the relationship between its CEO, Elon Musk, and President Donald Trump soured even further. Once allies, the two have clashed recently, and Trump suggested there's potentially 'BIG MONEY TO BE SAVED' by scrutinizing subsidies, contracts or other government spending going to Musk's companies. Tesla fell 5.3%. It has lost just over a quarter of its value so far this year, 25.5%, in large part because of Musk's and Trump's feud. Drops for several darlings of the artificial-intelligence frenzy also weighed on the market. Nvidia's decline of 3% was the heaviest weight on the S&P 500. But more stocks within the index rose than fell, led by several casino companies. They rallied following a report showing better-than-expected growth in overall gaming revenue in Macao, China's casino hub. Las Vegas Sands gained 8.9%, Wynn Resorts climbed 8.8% and MGM Resorts International rose 7.3%. Automakers outside of Tesla were also strong, with General Motors up 5.7% and Ford Motor up 4.6%. The U.S. stock market has made a stunning recovery from its springtime sell-off of roughly 20%. But challenges still lie ahead for Wall Street, with one of the largest being the continued threat of Trump's tariffs. Many of Trump's stiff proposed taxes on imports are currently on pause, and they're scheduled to kick into effect in about a week. Depending on how big they are, they could hurt the economy and worsen inflation. Washington is also making progress on proposed cuts to tax rates and other measures that could send the U.S. government's debt spiraling higher, which could raise inflation. That in turn could mean higher interest rates, which would hurt prices for bonds, stocks and other investments. Despite such challenges, strategists at Barclays say they see signals of euphoria among some investors. The strategists say a measure that tries to show how much 'excess optimism' is in the market is not far from the peaks seen during the 'meme stock' craze that sent GameStop to market-bending heights or to the dot-com bubble at the turn of the millennium. In other dealings early Wednesday, benchmark U.S. crude gained 1 cent to $65.46 per barrel. Brent crude, the international standard, rose 5 cents per barrel to $67.16. The U.S. dollar rose to 143.58 Japanese yen from 143.41 yen. The euro slid to $1.1798 from $1.1808. ___ AP Business Writer Stan Choe contributed

Asian shares are mixed, tracking Wall Street split as momentum slows and Tesla drops
Asian shares are mixed, tracking Wall Street split as momentum slows and Tesla drops

Associated Press

time34 minutes ago

  • Associated Press

Asian shares are mixed, tracking Wall Street split as momentum slows and Tesla drops

MANILA, Philippines (AP) — Asian shares were mixed on Wednesday following a similar drift overnight on Wall Street as losses for Tesla and other technology shares put a brake on the momentum of recent record highs. U.S. futures edged higher and oil prices were little changed. Shares fell in Japan, hit by jitters over a lack of progress in trade talks with the U.S., but they recovered much of their lost ground, trading 0.3% lower at 39,874.33. Stephen Innes, managing partner at SPI Asset Management, pointed to President Donald Trump's declaration that there will be no extension of his tariff pause, which ends on July 9. 'The message was blunt: if Tokyo won't yield, it will pay. Tariffs of 30%, 35% or 'whatever number we determine' are now openly back on the table,' he said. 'The negotiating table just became a pressure cooker.' Hong Kong's Hang Seng advanced 0.6% to 24,220.65 and the Shanghai Composite index was down just over 1 point at 3,456.51. South Korea's KOSPI fell 1.2% to 3,053.39 as inflation rose in June. Australia's S&P ASX 200 edged up 0.4% to 8,580.70. On Tuesday, the S&P 500 dipped 0.1% to 6,198.01 for its first loss in four days. The Dow Jones Industrial Average rose 0.9% to 44,494.94, and the Nasdaq composite fell 0.8% to 20,202.89. Tesla tugged on the market as the relationship between its CEO, Elon Musk, and President Donald Trump soured even further. Once allies, the two have clashed recently, and Trump suggested there's potentially 'BIG MONEY TO BE SAVED' by scrutinizing subsidies, contracts or other government spending going to Musk's companies. Tesla fell 5.3%. It has lost just over a quarter of its value so far this year, 25.5%, in large part because of Musk's and Trump's feud. Drops for several darlings of the artificial-intelligence frenzy also weighed on the market. Nvidia's decline of 3% was the heaviest weight on the S&P 500. But more stocks within the index rose than fell, led by several casino companies. They rallied following a report showing better-than-expected growth in overall gaming revenue in Macao, China's casino hub. Las Vegas Sands gained 8.9%, Wynn Resorts climbed 8.8% and MGM Resorts International rose 7.3%. Automakers outside of Tesla were also strong, with General Motors up 5.7% and Ford Motor up 4.6%. The U.S. stock market has made a stunning recovery from its springtime sell-off of roughly 20%. But challenges still lie ahead for Wall Street, with one of the largest being the continued threat of Trump's tariffs. Many of Trump's stiff proposed taxes on imports are currently on pause, and they're scheduled to kick into effect in about a week. Depending on how big they are, they could hurt the economy and worsen inflation. Washington is also making progress on proposed cuts to tax rates and other measures that could send the U.S. government's debt spiraling higher, which could raise inflation. That in turn could mean higher interest rates, which would hurt prices for bonds, stocks and other investments. Despite such challenges, strategists at Barclays say they see signals of euphoria among some investors. The strategists say a measure that tries to show how much 'excess optimism' is in the market is not far from the peaks seen during the 'meme stock' craze that sent GameStop to market-bending heights or to the dot-com bubble at the turn of the millennium. In other dealings early Wednesday, benchmark U.S. crude gained 1 cent to $65.46 per barrel. Brent crude, the international standard, rose 5 cents per barrel to $67.16. The U.S. dollar rose to 143.58 Japanese yen from 143.41 yen. The euro slid to $1.1798 from $1.1808. ___ AP Business Writer Stan Choe contributed

Elon Musk says his DOGE chainsaw stunt onstage 'lacked empathy'
Elon Musk says his DOGE chainsaw stunt onstage 'lacked empathy'

Business Insider

timean hour ago

  • Business Insider

Elon Musk says his DOGE chainsaw stunt onstage 'lacked empathy'

Elon Musk said that brandishing a chainsaw onstage in February probably wasn't such a good idea. Musk — who's been on a tear criticizing President Donald Trump's spending bill — was posting on X about the debt ceiling on Tuesday. That got a response from an X user who criticized Musk for his actions in February. "Maybe you shouldn't have taken the chainsaw on stage and acted a fool. Maybe you could have gotten more done if you weren't so worried about looking cool," the X user, Jim Spradlin, wrote, responding to one of Musk's Tuesday tweets on government spending. "Valid point. Milei gave me the chainsaw backstage and I ran with it, but, in retrospect, it lacked empathy," Musk replied, referring to Javier Milei, Argentina's president. That moment at the Conservative Political Action Conference in February has become an iconic image of Musk's time helming the Department of Government Efficiency. "President Milei has a gift for me," Musk said onstage at CPAC. Milei then walked out from backstage and handed the chainsaw to Musk, who lifted it over his head and brandished it briefly while growling. "This is the chainsaw for bureaucracy," Musk said, chainsaw aloft. Now, things are different with Trump and Musk. Musk has become one of the most vocal opponents of Trump's "big, beautiful bill." Musk started criticizing the bill in June, leading to an ugly, public fallout with Trump that seemed to clear up. But he reignited his criticism on Saturday, posting on X that the president's signature tax bill — which would cut an electric vehicle tax credit that has helped Musk's Tesla — "will destroy millions of jobs in America and cause immense strategic harm to our country." "Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future," he wrote. He also threatened to form a new political party and fund primary opponents to any lawmakers who help pass the spending bill. In response, Trump has suggested at press events and in a post on Truth Social that DOGE could look into slashing Musk's government contracts. "I don't know. We'll have to take a look. We might have to put DOGE on Elon. You know what DOGE is? The monster that might have to go back and eat Elon," Trump said at the White House on Tuesday. "Wouldn't that be terrible? He gets a lot of subsidies." Musk then wrote on X: "So tempting to escalate this. So, so tempting. But I will refrain for now."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store