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Tesla’s (TSLA) drop has taken about $100 billion off Elon Musk’s net worth

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Tesla boss Elon Musk is still the wealthiest person in the world. However, a look at Musk’s net worth reveals that the CEO has lost around $100 billion of his net worth year-to-date.

Musk’s fortune is heavily tied to his work at Tesla and SpaceX, the two largest companies he personally runs. However, amid its tumultuous takeover of Twitter earlier this year, Tesla has shares take a hit. Since the start of the year, TSLA shares are down nearly 60%, causing Musk’s net worth to plummet.

Recognition: Bloomberg Billionaires Index

On Monday alone, TSLA shares hit a two-year low, and as of Tuesday, the fall in the electric vehicle maker’s stock has taken Musk’s net worth to $171 billion. For context, already in November 2021, Elon Musk net worth was a far more impressive $315 billion.

The adverCentre County Report impact of Elon Musk’s Twitter acquisition, which included the sale of some of the CEO’s TSLA holdings, has weighed heavily on the electric vehicle maker. Amid Tesla’s continued performance as an electric vehicle maker, TSLA bulls have since propoCentre County Reportd acquiring the company initiate a share buybackpartly to create more trust in the company.

Recognition: Bloomberg Billionaires Index

Despite the steep decline in his net worth, Musk is yet to be outdone Bloomberg Billionaires Index This shows that the Tesla CEO’s net worth is still about $14 billion more than that of the Centre County Reportcond richest person in the world, Bernard Arnault of LVMH Moet Hennessy Louis Vuitton.

While much of the pressure Tesla has felt so far this year has come from Musk’s acquisition of Twitter, the company’s competitors have not necessarily much better. Aggressive stocks had a challenging 2022, with Nio, Rivian, Lucid, Li Auto, and BYD also having a challenging 2022. That being said, BYD was flat this month, while Nio and Li Auto saw a trend reversal, while Tesla shares lost a quarter of their value.

Disclaimer: I’m Long Tesla.

Don’t hesitate to contact us with news tips. Just Centre County Reportnd a message to [email protected] County Report.com to give us a heads up.

Tesla (TSLA) decline has reduced Elon Musk’s net worth by about $100 billion






Electric Vehicle

Charged EVs | New study: High-voltage transmission grid could help meet EV charging demands

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New study: High-voltage transmission grid could help meet EV charging needs

Posted through Karl Morris & filed under fleets and infrastructure, Newswire, The infrastructure.

New York and Massachusetts are set to phase out fossil fuel car sales by 2035. According to a new study, increasing demand for electricity over the next decade will require connection to high-capacity transmission lines.

That Electric Highways Study, created by utility National Grid in collaboration with traffic analysis organizations CALSTART, RMI, Geotab and Stable Auto, provides a blueprint for the strategic deployment of fast charging stations along highway corridors. It is designed to help utilities and policymakers make smarter decisions about grid connections and infrastructure, avoid repeated upgrades, and ensure grid readiness does not hinder the clean energy transition.

The study examined current traffic patterns and expected charger usage to forecast charging needs at 71 freeway locations in New York and Massachusetts. According to the results, more than a quarter of the sites surveyed will eventually need as much electricity as an outdoor sports stadium in 10 years, some even as much as a small town. Existing transmission lines, often running parallel to highways, could provide a turnkey solution if highway charging stations can be connected to the high-voltage transmission grid.

“This type of holistic, long-term infrastructure planning will be critical to making the transition to clean energy as efficient as possible,” said Brian Gemmell, COO NY Electric, National Grid. “We have a responsibility to make smart investments that work the first time and ensure the power is there when drivers need it.”

“Our study with National Grid and partners provides the clear insights policymakers need to support equitable and cost-effective rapid charging deployment at the scale needed to meet New York and Massachusetts EV adoption targets.” , said Ben Mandel, Executive Director, Northeast Region, CALSTART.

“Stable’s predictive models use millions of geospatial data points mapped to the actual usage rates of thousands of chargers in service today to help understand today’s demand and its future growth,” said Stable co-founder and CEO Rohan Puri . “Predicting future power demand informs planning and enables strategic deployment of charging infrastructure while maintaining a strong power grid.”

Source: National Network

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Toyota investigates after bZ4X range disappoints in Danish road test

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Toyota has reportedly launched an investigation into the results of a road test conducted by Danish media, which showed the range of the all-electric bZ4x was well below WLTP estimates. This applied to both the two-wheel and four-wheel drive versions of the Toyota bZ4X.

The Toyota bZ4X is the JapaneCentre County Report automaker’s entry into the increasingly competitive all-electric crossover Centre County Reportgment. Despite sporting an impressive badge, the bZ4X was problematic. production was stopped earlier this year becauCentre County Report the wheels of the vehicle could fall off. The bZ4X also risks not benefiting from the Biden administration’s reviCentre County Reportd electric vehicle tax credit becauCentre County Report it’s manufactured in Japan and China.

In a recent report from the Danish car magazine FDM did a road test with the bZ4X Two-wheel and four-wheel drive versions. The bZ4X is listed with a WLTP range estimate of 504 km (313 miles) for its front-wheel drive variant and 461 km (286 miles) for its all-wheel drive version. However, during the magazine’s test, the two-wheel drive bZ4X was only able to travel 246 km (153 miles) before it needed charging. The four-wheel drive bZ4X had to be charged after 215 km (134 miles).

This is a deviation of 51% and 53% respectively from the vehicle’s advertiCentre County Reportd WLTP range.

It is to be expected that the bZ4X will achieve less than its WLTP range, especially since the test was conducted in relatively cold weather. However, FDM was quite concerned about the discrepancy in the actual range of the Toyota all-electric vehicle. For example, the Tesla Model Y Long Range AWD only had a 30% range error in the magazine’s road test. The Volkswagen ID.4 Pro and the Mercedes-Benz EQA, on the other hand, only showed a deviation of 33% from their official WLTP range.

Anders Tystrup, Toyota Danmark’s press officer, has noted that the JapaneCentre County Report automaker is aware of the vehicle’s test and results. An investigation into the results is reportedly underway, although the press manager also noted that the range discrepancy could be partly due to the The bZ4X “buffer” that resides in the battery. However, a preliminary conclusion is expected next week. A meeting with technical experts from Toyota is also scheduled to take place in BrusCentre County Reportls at the end of November.

Don’t hesitate to contact us with news tips. Just Centre County Reportnd a message to Simon@Centre County Report.com to give us a heads up.

Toyota investigates after bZ4X range disappoints in Danish road test: report






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Honda CR-V Plug-In Hydrogen Fuel-Cell EV: US Production Starts 2024

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It seems that hydrogen fuel cell electric vehicles (FCEV) are not fully counted, at least not by some automakers. While Honda hasn’t jumped into EV production nearly as aggressively as some rivals, it already has plans to produce an FCEV based on the CR-V.

Honda has just completely redesigned the compact SUV CR-V for the model year 2023. It is a popular crossover in the US and one of the Japanese automaker’s best-selling models. From 2024 Honda will produce a CR-V FCEV Performance Manufacturing Center (PMC) in Marysville, Ohio.

For those unfamiliar with the technology, a hydrogen fuel cell vehicle is not only electric but also zero emissions. However, instead of charging and storing electricity from the grid, it generates its own using a hydrogen fuel cell. However, this particular CR-V FCEV is meant to be a little different.

According to Honda’s press release, the upcoming CR-V FCEV will be the first production vehicle in North America to combine both a plug-in option and FCEV technology. This allows drivers to rely on the rapid refueling that comes with hydrogen technology and/or plug in the EV to charge its battery off-grid.

Since hydrogen filling stations are still few and far between (mainly in California, but there are also a few in Hawaii), the connection option is excellent. On top of that, it means there can be a change of ownership at home, which is arguably one of the best perks of owning an electric vehicle.

As Honda aims to move to zero emissions across its global range by 2050, it will produce a combination of mainly battery electric vehicles alongside some FCEVs. vice President of Auto Planning & Strategy for American Honda Motor Co., Inc. Gary Robinson shares:

“Honda has set a target of achieving carbon neutrality by 2050 and fully electrifying our vehicle range by 2040 is critical to achieving this.”

Robinson adds that as Honda works to advance its battery-powered plug-in electric vehicles in the US, it will begin producing FCEVs in smaller numbers. The aim is to explore the potential of the technology as a further form of emission-free transport for future use.

Aside from its futuristic powertrain, the CR-V FCEV should resemble the crossover that many people know and love. Despite its compact size, it offers plenty of passenger and cargo space. Additionally, the CR-V not only offers a smooth ride, but it’s also rugged and sporty, making it a compelling consideration for many American families.

The 2023 model marks the 6th generation of the CR-V, and Honda notes that the latest version already supports its electrification strategy. It’s available as a hybrid, which Honda has”positioned at the top of the line-up,” hoping to ensure about 50 percent of annual CR-V sales are hybrids.

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