The past week has been a rollercoaster ride in the world of business and finance. From Elon Musk‘s ambitious valuation for Tesla Inc. to skepticism over Tesla’s robotaxi, the week was filled with intriguing stories. Let’s dive into the top five stories that made headlines.
Elon Musk’s Trillion-Dollar Dream
Despite a decline in sales and revenue in the second quarter, Tesla CEO Elon Musk believes a $20 trillion valuation for the electric vehicle giant is achievable. Musk’s optimism comes amidst dwindling sales across multiple markets.
Skepticism Over Tesla’s Robotaxi
Gary Black, The Future Fund LLC's managing director, expressed doubts about the hype surrounding Tesla’s second supervised robotaxi test in San Francisco. Black questioned the scalability of Tesla’s Full Self-Driving (FSD) technology on a national level.
Trump’s Trade Deal: A Tax On Americans?
Economist Justin Wolfers criticized President Donald Trump's new trade agreement with Japan, arguing that it essentially results in a tax increase for American consumers. Wolfers expressed skepticism about the potential benefits for US auto companies.
GM’s EV Push
General Motors Co. announced that Chevrolet is now the second-largest electric vehicle brand in the U.S., with Cadillac ranking fifth in luxury EV sales. The company is making a $4 billion factory push to offset Trump tariffs.
BYD’s Sales Slip
Chinese EV giant BYD Co. Ltd. reported an 8% year-over-year slip in Chinese sales during June. The slip in sales comes as rivals like Xiaomi Corp and Xpeng Inc. gain in sales.
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This story was generated using Benzinga Neuro and edited by Ananya Gairola
Photo Courtesy: Frederic Legrand – COMEO On Shutterstock.com
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