Tesla: A Look at the Company’s Financial Performance on Yahoo Finance

Tesla, Inc. (TSLA) is an American multinational corporation that specializes in electric vehicles, energy storage and solar panel manufacturing based in Palo Alto, California. Founded in 2003, the company specializes in electric cars, lithium-ion battery energy storage, and residential photovoltaic panels (through the subsidiary company known as Tesla Energy). Tesla first gained widespread attention following their production of the Tesla Roadster, the first fully electric sports car. The company’s second vehicle, the Model S, a fully electric luxury sedan, was unveiled in 2012. In 2016, Tesla introduced the Model X, a crossover SUV. In addition to its electric vehicle manufacturing, Tesla sells electric powertrain systems to other automakers.

Tesla operates multiple production and assembly plants, notably Gigafactory 1 near Reno, Nevada, and its main vehicle manufacturing facility at Tesla Factory in Fremont, California. As of December 2020, Tesla sells the Model S, Model 3, Model X, and Model Y. The Model S was the world’s best-selling plug-in electric car in 2015 and 2016. As of December 2020, the Model 3 ranks as the world’s best-selling electric car.

In early 2017, Tesla announced plans to expand production to include the Tesla Semi and Tesla Pickup Truck. In 2020, Tesla unveiled its first fully autonomous vehicle, the Tesla Cybertruck.

In addition to its automotive business, Tesla is also a provider of residential photovoltaic panels and commercial and industrial photovoltaic systems through its subsidiary company, Tesla Energy, and has installed a number of solar panels on multi-family housing and businesses.

Tesla has faced controversy and criticism over the years, including concerns over the safety of its vehicles, production delays, and financial struggles. However, the company has also received accolades and praise for its innovative technology and commitment to sustainability.

Previous Close639.30
Open640.30
Bid648.30 x 1100
Ask648.97 x 800
Day’s Range639.60 – 662.91
52 Week Range608.88 – 1,243.49
Volume30,880,590
Avg. Volume28,695,063
Market Cap673.697B
Beta (5Y Monthly)2.13
PE Ratio (TTM)87.88
EPS (TTM)7.40
Earnings DateJul 25, 2022 – Jul 29, 2022
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est908.47

Why Is This District Banning Teslas?

The reason for the ban is not so much about maintaining a tranquil, car-free coast but the fact that Beidaihe hosts an annual ultra-secretive summit of top Chinese leadership. 

The event is always mired in secrecy — particular from foreign observers. The exact dates are never announced and, each year, some coverage of it emerges only after the summit has already taken place.

“Ostensibly an annual break for [China’s top leaders] to switch off and relax on the long beaches of the fabled northern resort town, it has also become an occasion when the country’s most powerful could spend time glad-handing, logrolling and tittle-tattling each other, making it the most watched unofficial event in the nation’s political calendar,” journalist William Zheng wrote for the South China Post in 2020.

A Beidaihe Traffic Police Brigade told Reuters that the Tesla ban was instituted due to a matter of “national affairs.”

He did not provide additional information on why Tesla was targeted as opposed to any other foreign car while Tesla, which disbanded its PR team, could not be reached for comment.

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