TSLA - Tesla, Inc.

Tesla shareholder: 'I don't want this company to sell...it's so, so undervalued'

HyperChange founder and CEO, Galileo Russell explains to Yahoo Finance why he thinks Tesla is should not sell itself to another company.

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  VW says it has no interest in buying stake in Tesla

  Yahoo Finance Video
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  Why Tesla could give Volkswagen a 'critical edge,' according to one expert

  Yahoo Finance Video

Volkswagen says report about its interest in buying Tesla stake is 'unfounded'

Volkswagen won't be buying Tesla... apparently. The auto giant is denying reports from German publication 'Manager Magazin' that its CEO Herbert Diess wants to buy shares in Tesla to access its software and batteries technology. In a statement to yahoo finance, the company says- "The latest media speculations regarding v-w investments in Tesla are unfounded." Yahoo Finance's Emily McCormick joins Akiko Fujita.

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  Report says Volkswagen CEO is interested in Tesla stake

  Yahoo Finance Video
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  Why Big Tech is a better fit to buy Tesla than a car company

  Yahoo Finance Video

China Hits Back at Trump With Higher Tariffs on Soybeans, Autos

(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. China threatened to impose additional tariffs on $75 billion of American goods including soybeans, automobiles and oil, in retaliation for President Donald Trump’s latest planned levies on Chinese imports that pushed U.S. stocks and farm commodities lower.Some of the countermeasures will take effect starting Sept. 1, while the rest will come into effect from Dec. 15, according to the announcement from the Finance Ministry. This mirrors the timetable the U.S. has laid out for 10% tariffs on nearly $300 billion of Chinese shipments.An extra 5% tariff will be put on American soybeans and crude-oil imports starting next month. The resumption of a suspended extra 25% duty on U.S. cars will resume Dec. 15, with another 10% on top for some vehicles. With existing general duties on autos taken into account, the total tariff charged on U.S. made cars would be as high as 50%.China’s tariff threats take aim at the heart of Trump’s political support -- factories and farms across the Midwest and South at a time when the U.S. economy is showing signs of slowing down. Soybean prices sank to a two-week low.Among automakers, Tesla Inc. and Germany’s Daimler AG and BMW AG are the most vulnerable to the additional levies. Shares of the two German companies fell at least 2% in Frankfurt, while Tesla dropped 1.6% in early trading in New York.BMW and Daimler ship large numbers of sport utility vehicles from plants in South Carolina and Alabama to China, while Tesla doesn’t yet make its electric cars in the country. Six of the top 10 vehicles exported from the U.S. to the world’s biggest car market are from the two German brands, according to forecaster LMC Automotive.The news from Beijing rekindled concerns about the world’s two largest economies and a global growth outlook that’s already looking shaky. U.S. stocks dropped along with Treasury yields and oil prices. Emerging-market currencies also declined, while havens such as the yen and gold gained.The tariffs beginning in September include 10% on pork, beef, and chicken, and various other agricultural goods, while soybeans will have the extra 5% tariff on top of the existing 25%. Starting in December, wheat, sorghum, and cotton will also get a 10% tariff.While China will impose a new 5% levy on oil, there was no new tariff on liquefied natural gas.In Washington, the initial reaction from the White House was aimed at easing concerns about the fallout. “The amount of money being tariffed is not material in terms of macro growth,” Trump adviser Peter Navarro said on Fox Business Network. The retaliation will “absolutely not” slow growth, he said.China’s announcement comes as leaders from the Group of Seven nations prepare to meet in France and central bankers gather in Jackson Hole, Wyoming, to discuss issues such as the global slowdown. The Chinese announcement was foreshadowed by a tweet from Hu Xijin, the editor-in-chief of the Global Times, a newspaper controlled by the ruling Communist Party.China promised earlier this week that any new tariffs from the U.S. would lead to escalation and retaliation. The U.S. has said it will put 10% tariffs on some $110 billion of Chinese goods starting Sept. 1 and the same levy on another $160 billion on Dec. 15, a staggered approach aimed at ease the impact on the American economy.After Trump gave the go-ahead earlier this month for tariffs on the nearly $300 billion in Chinese imports that haven’t been hit by higher duties, China halted purchases of agricultural goods and allowed the yuan to weaken.Since then, negotiators have spoken by phone and are planning another call in coming days. People familiar with their intentions previously said that the Chinese delegation is sticking to their plan to travel to the U.S. in September for face-to-face meetings, which may offer a chance for further reprieve.The U.S. side is still hoping for that visit to happen, with Trump’s economic adviser Larry Kudlow telling Fox Business Network that “hopefully we are still planning on having the Chinese team come here to Washington D.C. to continue the negotiations.”“I don’t want to predict, but we will see,” Kudlow said on Thursday in Washington.(An earlier version corrected source of statement in second paragraph.)\--With assistance from Anthony Palazzo.To contact the reporters on this story: Natalie Lung in Hong Kong at flung6@bloomberg.net;James Mayger in Beijing at jmayger@bloomberg.net;Miao Han in Beijing at mhan22@bloomberg.netTo contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, Brendan MurrayFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

Tesla (TSLA) Down 2.9% Since Last Earnings Report: Can It Rebound?

Tesla (TSLA) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

Why Elon Musk Doesn’t Need to Be Tesla’s CEO

On Thursday, James Anderson of Baillie Gifford did an interview with Manager Magazin. Anderson discussed why he thinks Tesla could work without Musk.

Tesla Agrees to Buy LG Batteries for Vehicles Made in China

(Bloomberg) -- Tesla Inc. agreed to buy batteries from South Korea’s LG Chem Ltd. to be used in electric vehicles produced out in China, according to people familiar with the matter.Batteries made by LG Chem will be used initially in Model 3 cars manufactured in the plant near Shanghai, Tesla’s first outside of the U.S, said the people, asking not to be identified discussing a private matter. LG Chem batteries will also be used in Model Ys produced there once the compact crossover car is released, they said. Shares of LG Chem jumped.The supply agreement isn’t exclusive to LG Chem, the people said, meaning Tesla could procure batteries from other suppliers as the Model 3 maker prepares to start production in China later this year, part of the EV pioneer’s push into what is the world’s biggest market for new-energy vehicles.Tesla plans to use multiple battery suppliers for its China-made cars, the people said, and has also been in talks with top Chinese battery producer Contemporary Amperex Technology Co. Ltd. about a supply deal, Bloomberg reported in March. Tesla has a long-standing relationship with Japan’s Panasonic Corp., which makes batteries with the carmaker in Nevada.Key StepSecuring battery supply is a key step in Chief Executive Officer Elon Musk’s plan to expand in China, an increasingly important market for the loss-making company as incentives for EVs in the U.S. wane. While Tesla has a strong following in China, local rivals have a head start thanks to significant support for the sector from Beijing. Imported vehicles are made costlier by tariffs, while locally built EVs enjoy government incentives.For Seoul-based LG Chem, winning an order from a high-profile customer like Tesla bolsters its profile as one of the world’s emerging battery-making powerhouses.Shares of the South Korean company climbed 3% in Seoul. CATL dropped 2.2% in Shenzhen and Panasonic advanced 0.2% in Tokyo.The $18 Billion Electric-Car Bubble at Risk of Bursting in ChinaA spokesman for LG Chem said the company doesn’t comment on issues related to customers. Representatives for Tesla in China didn’t respond to multiple requests for comment. A CATL representative declined to comment.Talks with CATL are continuing, but are taking time as the two sides discuss technical specifications, according to the people. LG Chem was more flexible in meeting Tesla’s technology requirements, one of the people said.More CapacityLG Chem will provide Tesla with so-called 21700 type battery cells, which have more capacity than some older battery types, one of the people said. They will be made at LG Chem’s factory in Nanjing, which is about 200 miles (320 kilometers) west of Shanghai.A unit of South Korea’s fourth-largest conglomerate, LG Chem is the world’s second-biggest manufacturer of lithium-ion battery cells, according to BloombergNEF. The company is seeking to reduce its reliance on chemical production by boosting sales of electric-vehicle batteries. It has supply deals with Volvo Cars to Renault SA and General Motors Co.Tesla broke ground on the factory outside Shanghai on Jan. 7, after years of negotiations with Chinese authorities to become the first foreign automaker to wholly own a manufacturing facility in the country. Tesla plans to start producing cars at the factory by the end of 2019.But Tesla is doubling down on China at an uncertain time for the company and the country.Though electric-vehicle sales are rising in China, growth is being held back by the government’s move to phase out subsidies on EV purchases. China’s overall auto market is suffering a historic slump, with the industry’s total sales in decline for more than a year.Tesla is also up against stiff competition. BYD Co., an EV giant backed by Warren Buffett’s Berkshire Hathaway Inc., and other domestic contenders such as upstart NIO Inc. are winning users with their locally-built cars, and premium rivals such as BMW AG and Daimler AG are starting to bring their electric models to the market.\--With assistance from Chunying Zhang, Sohee Kim and Tian Ying.To contact Bloomberg News staff for this story: Haze Fan in Beijing at hfan40@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

Tesla in advanced talks with LG Chem on battery supply in China: source

SEOUL/SHANGHAI (Reuters) - U.S. electric vehicle maker Tesla Inc is in advanced talks with South Korea's LG Chem Ltd to source batteries for vehicles to be made in its Shanghai plant, a person familiar with the matter said. The move represents a push by Tesla to diversify sources of the key component for its electric vehicles from its exclusive supplier, Japan's Panasonic Corp . Another source said LG Chem agreed to supply batteries for Tesla's China plant, without elaborating.

Walmart, Tesla look to address issues surrounding solar systems

In the lawsuit, Walmart accused Tesla of having untrained workers putting up shoddy installations and showing "utter incompetence or callousness, or both," and asked for the removal of solar panels from more than 240 of Walmart's U.S. stores.

Walmart Lawsuit Threatens to Undermine Tesla’s Bid to Reboot Solar Unit

(Bloomberg) -- Walmart Inc.’s lawsuit against Tesla Inc. over fires at more than a half-dozen stores threatens to undermine the automaker’s latest bid to reboot its struggling solar unit.In the complaint Tuesday, the retailer said it had leased or licensed roof space at more than 240 stores to Tesla’s energy unit, formerly known as SolarCity, to install and operate solar systems. As of November, fires had broken out atop at least seven of the stores, Walmart said, prompting all of the solar systems to be disconnected.The suit marks another high-profile headache for Tesla’s solar unit, which has lost much of its market share as it repeatedly rejiggers its strategy. The complaint, filed in New York state court, accuses the company of shoddy installations and “widespread, systemic negligence.” It comes days after Tesla Chief Executive Officer Elon Musk announced a “relaunch” of the unit that once led the rooftop solar industry.“The disagreement with Walmart could spook customers that Tesla is trying to bring back,” Hugh Bromley, a New York-based analyst at BloombergNEF, said in an interview Wednesday.Late Thursday, Tesla and Walmart said in a joint statement they are in discussions to address the issue. Each company plans to provide an update on the litigation, they said.In a July 29 letter to Walmart, a lawyer for Tesla said the company had tried to resolve the matter amicably. “My client continues to prefer a business solution to this dispute, but Walmart’s conduct has put the parties on a collision course for litigation,” the attorney for Tesla, Fred Norton, wrote in the letter, which was filed with the court.The automaker’s attorney, in that letter, said the power not generated from the solar systems had contributed to at least $13.7 million in damages (not including lost incentives), a figure that increases by at least $37,400 daily.On Sunday, Musk announced that his Palo Alto, California-based company is now offering to rent solar panels to customers without long-term contracts. The move harks back to the no-money-down leases the unit popularized back when it was a standalone company.Tesla bought SolarCity Corp. for $2.6 billion in 2016, then shifted away from leases to prioritize outright sales. It also ceased door-to-door marketing, ended a partnership with Home Depot Inc. and cut jobs. The company recently shifted to offering standardized panel systems online, rather than customized arrays.Installations have fallen in the last seven of 10 quarters since Tesla bought SolarCity. Last month the company reported its fewest quarterly installations to date: 29 megawatts. It has also struggled to ramp up production of its sleek solar roof shingles that Musk unveiled with fanfare in 2016.Now, the solar unit faces a new challenge: Walmart.Walmart’s inspectors found Tesla “failed to abide by prudent industry practices in installing, operating and maintaining its solar systems,” according to the breach-of-contract complaint. Many of the panels had defects that could be seen by the naked eye or were easily identifiable with proper equipment, Walmart said.“This is the culmination of inattention being paid to the business,” Joe Osha, an analyst at JMP Securities, said in an interview Wednesday.The case is Walmart Inc. v. Tesla Energy Operations, New York State Supreme Court, New York County.(Updates with companies’ statement in fifth paragraph.)\--With assistance from Matthew Boyle.To contact the reporters on this story: Brian Eckhouse in New York at beckhouse@bloomberg.net;Chris Dolmetsch in Federal Court in Manhattan at cdolmetsch@bloomberg.net;Dana Hull in San Francisco at dhull12@bloomberg.netTo contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, ;Lynn Doan at ldoan6@bloomberg.net, Reg Gale, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

Walmart’s Fire Suit May ‘Spook’ Solar Customers Tesla Wants

(Bloomberg) -- Walmart Inc.’s lawsuit against Tesla Inc. over fires at more than a half-dozen stores threatens to undermine the automaker’s latest bid to reboot its struggling solar unit.In the complaint Tuesday, the retailer said it had leased or licensed roof space at more than 240 stores to Tesla’s energy unit, formerly known as SolarCity, to install and operate solar systems. As of November, fires had broken out atop at least seven of the stores, Walmart said, prompting all of the solar systems to be disconnected.The suit marks another high-profile headache for Tesla’s solar unit, which has lost much of its market share as it repeatedly rejiggers its strategy. The complaint, filed in New York state court, accuses the company of shoddy installations and “widespread, systemic negligence.” It comes days after Tesla Chief Executive Officer Elon Musk announced a “relaunch” of the unit that once led the rooftop solar industry.“The disagreement with Walmart could spook customers that Tesla is trying to bring back,” Hugh Bromley, a New York-based analyst at BloombergNEF, said in an interview Wednesday.Late Thursday, Tesla and Walmart said in a joint statement they are in discussions to address the issue. Each company plans to provide an update on the litigation, they said.In a July 29 letter to Walmart, a lawyer for Tesla said the company had tried to resolve the matter amicably. “My client continues to prefer a business solution to this dispute, but Walmart’s conduct has put the parties on a collision course for litigation,” the attorney for Tesla, Fred Norton, wrote in the letter, which was filed with the court.The automaker’s attorney, in that letter, said the power not generated from the solar systems had contributed to at least $13.7 million in damages (not including lost incentives), a figure that increases by at least $37,400 daily.On Sunday, Musk announced that his Palo Alto, California-based company is now offering to rent solar panels to customers without long-term contracts. The move harks back to the no-money-down leases the unit popularized back when it was a standalone company.Tesla bought SolarCity Corp. for $2.6 billion in 2016, then shifted away from leases to prioritize outright sales. It also ceased door-to-door marketing, ended a partnership with Home Depot Inc. and cut jobs. The company recently shifted to offering standardized panel systems online, rather than customized arrays.Installations have fallen in the last seven of 10 quarters since Tesla bought SolarCity. Last month the company reported its fewest quarterly installations to date: 29 megawatts. It has also struggled to ramp up production of its sleek solar roof shingles that Musk unveiled with fanfare in 2016.Now, the solar unit faces a new challenge: Walmart.Walmart’s inspectors found Tesla “failed to abide by prudent industry practices in installing, operating and maintaining its solar systems,” according to the breach-of-contract complaint. Many of the panels had defects that could be seen by the naked eye or were easily identifiable with proper equipment, Walmart said.“This is the culmination of inattention being paid to the business,” Joe Osha, an analyst at JMP Securities, said in an interview Wednesday.The case is Walmart Inc. v. Tesla Energy Operations, New York State Supreme Court, New York County.(Updates with companies’ statement in fifth paragraph.)\--With assistance from Matthew Boyle.To contact the reporters on this story: Brian Eckhouse in New York at beckhouse@bloomberg.net;Chris Dolmetsch in Federal Court in Manhattan at cdolmetsch@bloomberg.net;Dana Hull in San Francisco at dhull12@bloomberg.netTo contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, ;Lynn Doan at ldoan6@bloomberg.net, Reg Gale, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

What's Next for Tesla Stock After Walmart Sues Over Solar Panel Fires?

It seems like every few months Tesla (TSLA) is in the news for a scandal or some production issue. TSLA has also been a hot stock for young investors and people searching for massive growth potential from a firm in game-changing industry.

Ford Stock: Price Target, Valuation Compared to Peers

Ford (F) stock has slumped 5.1% in August amid criticism from President Trump, rising trade tension, and the bond yield curve inversion.

Volkswagen says it is not interested in buying a Tesla stake

FRANKFURT (Reuters) - Volkswagen on Thursday denied a media report which suggested that the German carmaker was interested in buying a stake in United States electric car manufacturer Tesla. "The speculation about buying a stake in Tesla made by Manager Magazin is without merit," a Volkswagen spokesman said in a written statement to Reuters. (Reporting by Edward Taylor; Editing by Michelle Martin)

Volkswagen not interested in buying Tesla stake

Volkswagen said on Thursday it was not interested in taking a stake in Tesla, denying a media report that CEO Herbert Diess wanted to buy shares in the U.S. company to access its software and batteries technology. "The speculation about buying a stake in Tesla made by Manager Magazin is without merit," a Volkswagen spokesman said in a written statement to Reuters. Manager Magazin had said Diess meets with Tesla CEO Elon Musk on a regular basis because of the U.S. carmaker's expertise in software and battery cell design, and that Tesla had so far rebuffed Volkswagen's efforts at striking an alliance.