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It looks all but certain at this point that the Federal Reserve will soon cut rates. Shares of Tesla ( TSLA 5.89%) climbed higher on Thursday, finishing the day up 6%. The spike came as the S&P 500 gained 0.8% and the Nasdaq Composite rose 0.7%.
Electric vehicle sales in the US hit a record in August as buyers rushed to take advantage of the $7,500 tax credit before it ends in September.
Trouble opening Tesla’s doors dates back to the early days of the Model S. An otherwise positive New York Times review published in September 2012 described opening the sedan’s doors as a multistep process that sometimes required several attempts. “Tesla sometimes takes its urge to reinvent too far,” the author wrote.
Musk, who now holds $1.3 billion worth of bitcoin on Tesla’s balance sheet, helped Trump get reelected with his campaign rally warnings of looming financial disaster before quitting the administration amid a row over government spending and promising to create his own bitcoin-backing political party.
That promise is an ambitious feat for a single factory. Tesla says its existing Megafactories in Lathrop, California, and Shanghai, China, have a total manufacturing capacity of 80 GWh, or 20,000 units, per year. Together, those two factories supply enough energy storage to retire 400 fossil fuel peaker plants every year, according to Tesla.
Tesla and Waymo are vying for access to Bay Area-based airports, a lucrative hub for ride-hailing businesses.
Ant joins the likes of Elon Musk’s Tesla in doubling down on AI-powered robotics. While the field has been plagued with hyped-up promises and underwhelmingly slow progress on even basic tasks for decades, many believe that software advances will finally help the field overcome decades of slow and deeply underwhelming progress.
Tesla can now test its autonomous vehicle technology on public streets in Nevada, but it still has steps to take if it wants to offer paid rides like in Austin, Texas.