Tesla (TSLA) shares are trending today, due to a report from the Financial Times indicating that the company is under investigation by the EU to assess potential unfair subsidies in Chinese exports for electric vehicle manufacturers. The EU is focusing its attention on the electric vehicle market due to it being a popular export, with approximately one-fifth of all-electric vehicles sold in Europe originating from China. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
S&P 500 (^GSPC) is in decline as it heads toward a losing month, with ongoing concerns about a potential recession weighing on investors' minds. Tesla (TSLA) shares are slipping amidst a report from the Financial Times the company is facing an EU investigation into foreign automakers exporting from China. Oil prices (CL=F) are moving after the dollar reached an eight-month high, prompting concerns about demand. Despite this, oil remains on course for its largest quarterly gain since March 2022. Investors are watching AMC (AMC) shares, following the announcement of Taylor Swift's global concert film release, set to reach 100 countries worldwide starting on October 13. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Tesla is working on an upgrade of its "gigacasting" technology to die cast almost all vehicle underbody parts in one piece, the Shanghai Securities News reported on Wednesday citing unnamed sources close to the automaker. The state-owned Chinese newspaper, which based its report after a recent visit to Tesla's Shanghai factory, did not say when and where the upgrade will happen. Reuters reported this month that Tesla was closing in on an innovation that would allow it to die cast nearly all of the underbody of an electric vehicle in one piece.