Elon Musk Updates: Twitter currently owes $13 billion (roughly Rs. 1,050 crore) in debt, and over the course of the next 12 months, it will have to pay close to $1.2 billion (roughly Rs. 9,685 crore) in interest.
- Tesla built 87,706 Model 3 and Model Y vehicles.
- In China, Tesla lowered the cost of its Model 3 and Model Y vehicles.
- Musk also serves as the CEO of SpaceX, a satellite internet provider.
Today I am going to write about technology updates today: Twitter, Tesla, and other Elon Musk businesses will continue to be well-positioned through 2023.
Twitter and Tesla CEO Elon Musk claimed in a tweet on Friday that his businesses would be well-positioned in 2023 despite the likelihood of a challenging economic climate.
A DAY AFTER MUSK SUGGESTED THAT TWITTER MIGHT GO BANKRUPT, HE POSTED THE FOLLOWING TWEET:
Three people who have seen the email have told Reuters that Musk earlier in the day warned that Twitter would not be able to “survive the next economic slump” if it does not increase subscription revenue to counteract declining advertising revenues.
Twitter currently owes $13 billion (approximately Rs. 1,050 crore) in debt, and over the course of the next 12 months, it will have to pay close to $1.2 billion (about Rs. 9,685 crore) in interest.
The payments are greater than the business’s most recent cash flow disclosure, which was $1.1 billion (or almost Rs 8,880 crore) as of June’s end.
Tesla, an electric vehicle manufacturer, increased its inventory in Shanghai, China, in October at its quickest rate ever.
About half of Tesla’s global deliveries last year came from its Shanghai factory, which the company uses as both a production and a key market in China.
Data from China Merchants Bank International shows that in October, Tesla built 87,706 Model 3s and Model Ys in Shanghai but only delivered 71,704 of them, leaving 16,002 Chinese-made cars in stock (CMBI).
In an effort to boost sales, Tesla reduced the price of its Model 3 and Model Y vehicles in China. Additionally, it gave customers who took delivery in November and bought insurance from one of its partners an additional discount.
Demand was solid in the quarter, and Musk told analysts last month that he anticipated Tesla to be “recession-resistant.”
Along with leading SpaceX, the startup for brain chips Neuralink, and the tunnelling company The Boring Company, Musk serves as their CEO.
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