Latest news with #Tesla-focused
CNBC
10-07-2025
- Automotive
- CNBC
Tesla moves to expand Robotaxi to Phoenix, following rival Waymo
Elon Musk's Tesla has applied to test and eventually deploy its Robotaxi vehicles in Phoenix, Arizona, following in the footsteps of market leader Waymo. Tesla has applied to conduct autonomous vehicle testing and operations, with and without human safety drivers on board, in Arizona, a spokesperson for the Arizona Department of Transportation told CNBC on Thursday. A decision on the application is expected at the end of July, and Tesla has "expressed interest in operating within the Phoenix Metro area," the spokesperson said via email. Reuters first reported Tesla's Arizona ambitions. The effort to expand to Arizona comes after Tesla in June began a pilot test of its robotaxis in Austin, Texas. Tesla's Austin fleet includes Model Y SUVs that are equipped with the company's newest, automated driving systems. Those vehicles are remotely supervised by employees in an undisclosed operations center, and they each include a human safety supervisor who rides with passengers. The safety supervisor sits in the front passenger seat, accompanying riders, who are invited fans of Tesla. The supervisor can intervene should the Tesla Robotaxis get into trouble. Waymo, owned by Google parent Alphabet, opened up a driverless robotaxi service to the public in the Phoenix area in 2020. Tesla, which was once seen as a self-driving pioneer, is now working to catch up to Waymo. The companies have distinct approaches to self-driving technology. Tesla claims its choice to mostly use cameras instead of expensive sensors like lidar will make its autonomous vehicles more economically viable. The Musk company's initial efforts in Austin have run into issues. One invited passenger, who runs a Tesla-focused YouTube channel called Dirty Tesla, captured an incident on camera where his Robotaxi dinged a parked car outside of a restaurant. Other incidents where Tesla Robotaxis violated rules of the road in Austin have also been captured on camera and circulated on social media, drawing regulatory scrutiny from the National Highway Traffic Safety Administration, the federal vehicle safety agency. Tesla is scheduled to hold a second-quarter earnings call on July 23, during which executives are expected to discuss the initial Robotaxi pilot. Separately, Musk on Wednesday said on X that Tesla is awaiting regulatory approvals to bring Robotaxis to the San Francisco Bay Area "probably in a month or two." The California Department of Motor Vehicles sued Tesla in 2022 alleging that the company made false claims in marketing and advertising about its vehicles' self-driving capabilities.
Time of India
09-07-2025
- Automotive
- Time of India
Elon Musk Soap Opera Must END, says Tesla Bull Dan Ives
Tesla's market value dropped by over $80 billion on July 7 after CEO officially announced a new political party called the 'America Party'. The stock fell nearly 7%, raising new concerns among investors about Musk's continued focus on Tesla. Tired of too many ads? go ad free now Wedbush Securities analyst Dan Ives urged the company's board of directors to 'act and create ground rules for Musk'. In a client note, he wrote 'The Tesla Board MUST act and create ground rules for Musk', adding 'The soap opera must end.' Tesla can't afford a distracted CEO: Dan Ives According to Ives, 'Tesla is heading into one of the most important stages of its growth cycle… and cannot have Musk spending more and more time creating a political party which will require countless time, energy, and political capital.' He further warned: 'Going after a handful of seats in the Senate and House heading into the 2026 mid-terms would essentially make Musk a foe of Trump and the Republican party ... which is exactly the opposite of what Tesla shareholders want to see with a very important autonomous regulatory framework now on the horizon during the Trump Administration.' Tesla Bull lays out three-point plan for Tesla In the note, Ives proposed a three-point action plan for Tesla board – Link Musk's pay to a clear time commitment at Tesla, form a board committee to monitor his political involvement, and if needed, offer more Tesla shares based on his actual involvement in the company. He wrote: 'The Board cannot control Musk's donations … but they can have oversight if his political ambitions/endeavors interfere with his role as CEO of Tesla,' He wrote. 'The Board now has to take the bull by the horns.' 'Tesla needs Musk as CEO for another five years at least given how important of a role Musk will play in the autonomous and robotics future of Tesla,' Ives added. Other Tesla investors urge board to act James Fishback, CEO of investment firm Azoria and a major Tesla shareholder, pulled plans to launch a Tesla-focused ETF following Musk's announcement. Tired of too many ads? go ad free now In a letter to Tesla's board, he said Musk's political involvement 'creates a conflict with his full-time responsibilities as CEO of Tesla.' 'Elon is free to burn his own money on the ridiculous stunt that is the America Party ,' Fishback posted on X. 'He is not free to drag shareholders down with him. Elon is a visionary CEO. He needs to focus on Tesla, not on President Trump.' OnePlus Nord 5 review: Is This the Best Phone Under Rs 35K?
Time of India
09-07-2025
- Automotive
- Time of India
Elon Musk Soap Opera Must END, says ...
Tesla's market value dropped by over $80 billion on July 7 after CEO Elon Musk officially announced a new political party called the 'America Party'. The stock fell nearly 7%, raising new concerns among investors about Musk's continued focus on Tesla. Wedbush Securities analyst Dan Ives urged the company's board of directors to 'act and create ground rules for Musk'. In a client note, he wrote 'The Tesla Board MUST act and create ground rules for Musk', adding 'The soap opera must end.' Tesla can't afford a distracted CEO: Dan Ives According to Ives, 'Tesla is heading into one of the most important stages of its growth cycle… and cannot have Musk spending more and more time creating a political party which will require countless time, energy, and political capital.' He further warned: 'Going after a handful of seats in the Senate and House heading into the 2026 mid-terms would essentially make Musk a foe of Trump and the Republican party ... which is exactly the opposite of what Tesla shareholders want to see with a very important autonomous regulatory framework now on the horizon during the Trump Administration.' Tesla Bull lays out three-point plan for Tesla In the note, Ives proposed a three-point action plan for Tesla board – Link Musk's pay to a clear time commitment at Tesla, form a board committee to monitor his political involvement, and if needed, offer more Tesla shares based on his actual involvement in the company. He wrote: 'The Board cannot control Musk's donations … but they can have oversight if his political ambitions/endeavors interfere with his role as CEO of Tesla,' He wrote. 'The Board now has to take the bull by the horns.' 'Tesla needs Musk as CEO for another five years at least given how important of a role Musk will play in the autonomous and robotics future of Tesla,' Ives added. Other Tesla investors urge board to act James Fishback, CEO of investment firm Azoria and a major Tesla shareholder, pulled plans to launch a Tesla-focused ETF following Musk's announcement. In a letter to Tesla's board, he said Musk's political involvement 'creates a conflict with his full-time responsibilities as CEO of Tesla.' 'Elon is free to burn his own money on the ridiculous stunt that is the America Party ,' Fishback posted on X. 'He is not free to drag shareholders down with him. Elon is a visionary CEO. He needs to focus on Tesla, not on President Trump.' OnePlus Nord 5 review: Is This the Best Phone Under Rs 35K? AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Canada News.Net
09-07-2025
- Business
- Canada News.Net
Musk's new political party draws fire from investors, officials
WASHINGTON, D.C.: Elon Musk's entry into the political arena is drawing pushback from top U.S. officials and investors, as his decision to launch a new political party triggers fresh controversy and business fallout. Treasury Secretary Scott Bessent and major stakeholders are urging Musk to focus on his corporate responsibilities. A day after Musk unveiled plans for the "America Party" and criticized President Donald Trump's tax and spending bill, Bessent said Musk should avoid politics and focus on his companies. "I imagine that those boards of directors did not like this announcement yesterday (July 5) and will be encouraging him to focus on his business activities, not his political activities," Bessent said on CNN's State of the Union. Musk said the party would target Republican lawmakers who supported what he called a fiscally dangerous measure. The legislation, dubbed the "big, beautiful bill," includes tax cuts and increased spending on defense and border security. It passed along party lines last week. Musk previously served as a top adviser to Trump during his first months in office, especially on government efficiency reforms. However, their relationship has soured over the bill, which Musk says would "bankrupt the country." His criticism includes claims that the new law removes green energy credits for Tesla vehicles. In response, Trump has threatened to withdraw billions of dollars in contracts and subsidies currently awarded to Tesla and SpaceX. The White House declined to address Musk's new political threat directly but defended the legislation. "As the leader of the Republican Party, President Trump has unified and grown the party in a way we've never seen," said White House spokesperson Harrison Fields. Musk's announcement also rattled financial circles. Azoria Partners, an investment firm planning to launch a Tesla-focused ETF, delayed its offering. CEO James Fishback said the new party "posed a conflict with his full-time responsibilities as CEO." Fishback later posted on X, "Elon left us with no other choice," and called on Tesla's board to clarify Musk's political ambitions. Bessent noted that while Musk's government efficiency initiatives were well received, polling showed voters connected more with the ideas than with Musk himself. "The principles of DOGE were very popular," Bessent said. "I think if you looked at the polling, Elon was not." Meanwhile, Stephen Miran, chair of Trump's Council of Economic Advisers, defended the legislation on ABC's This Week, calling it a powerful catalyst: "The one, big, beautiful bill is going to create growth on turbo charge."
The Hill
08-07-2025
- Business
- The Hill
Tesla investors aren't excited about Elon Musk's new political party
Tech billionaire Elon Musk says he's starting a new political party, but Tesla investors aren't thrilled. Shares of Tesla plunged nearly 7 percent Monday, as markets reacted to Musk's plans for the 'America Party,' a third political faction aimed at rivaling Democrats and Republicans, and in response to President Trump's renewed calls for tariffs. Prominent Wall Street tech analyst Dan Ives said the billionaire entrepreneur's latest political foray is 'exactly the opposite direction that most Tesla investors want him to take' and is 'causing exhaustion.' 'I think the board is going to have to get involved,' Ives, managing director at Wedbush Securities, told Bloomberg TV on Monday, adding that Musk is starting to cross 'a line in the sand.' James Fishback, CEO of investment firm Azoria, said Saturday that the firm would be postponing the launch of its Tesla-focused ETF due to Musk's political party announcement. 'We deserve a full-time CEO, not someone fixated on sabotaging President Trump,' Fishback, known for proposing 'DOGE dividend checks,' wrote on social platform X. Trump was also quick to voice his disapproval on Truth Social, saying the Tesla CEO had gone 'completely off the rails' and argued that third parties 'have never succeeded in the United States.' Musk, once a top donor and ally of Trump, had a falling out with the president over the Republicans' 'Big, Beautiful' spending and tax bill — which was signed into law on July 4. The Budget Lab at Yale University estimates it could add $3 trillion to the nation's debt over the next decade. 'When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,' Musk wrote Sunday on X, declaring the formation of the 'America Party.' The question on Tesla investors' minds: Where will he find the time? Musk's alliance with Trump was good for Tesla's stock — until it wasn't. Shares of Tesla nearly doubled after Election Day, but as Musk's role in the administration grew, so did investors' concerns about his focus, or lack thereof, on the EV giant. The Tesla CEO allayed some of those fears in May when he left Washington and vowed to spend '24/7' at work, even if it meant 'sleeping in conference/server/factory rooms.' But that renewed focus didn't last long, and the latest political distraction threatens to create new enemies on both sides of the aisle. 'I think in the view of investors, there's really no upside,' Ives said Monday, warning that Trump could become a blockade to Tesla's autonomous vehicle ambitions. Ross Gerber, a longtime Tesla investor and vocal Musk critic, didn't hold back online, writing in his own post that, 'no one wants the Elon first party,' accusing the company's board of being 'Elon vampires sucking the blood of Tesla equity.' 'Waymo has solved autonomous driving. Meanwhile Elon is starting a new political party,' Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, wrote on X over the weekend. Musk's new political adventure comes at an especially challenging time for the EV maker. Last week, Tesla reported a 13 percent drop in global car sales from a year earlier. Part of that decline has been attributed to Musk's political forays, which have sparked protests and alienated many consumers in Tesla's core market. A recent AP-NORC Research Center poll found that about half of U.S. adults have an unfavorable opinion of Tesla. Even more, closer to 60 percent have an unfavorable view of the tech billionaire. Tesla recently launched its robotaxi service in Austin, Texas, and while it's been generally well-received by passengers, it's also drawn the attention of federal traffic safety regulators after videos surfaced appearing to show driving errors. Then there's the problem of China — a vital country where Tesla's market share has shrunk thanks to stiff competition from low-cost local rivals. The Wall Street Journal put it bluntly Sunday: 'Elon Musk Is Running Out of Road in China.' But whatever the headwinds, investors want their mercurial CEO at the helm. Instead, Musk will be splitting his attention across a range of ventures, including Tesla, SpaceX, the social media platform X, and now, apparently, a political party.
