Rani Molla

1 week ago | sherwood.news | Rani Molla

When President Trump added 34% levies on Chinese goods as part of his reciprocal tariffs on April 2, Tesla, which gets some of its components for its robotaxi and its electric semitrucks from China, held its ground. But when Trump soon after raised the tariff to 84% and then to 125%, Tesla suspended shipments of those parts, according to an exclusive report from Reuters.

1 week ago | sherwood.news | Rani Molla

Electric SlideThe pileup is shrinkingTesla isn’t selling as many cars, but it also isn’t making as many. Last year in March, Tesla had a production problem. It was producing way more vehicles than it was able to sell, and as a result, it was forced to stash that excess outside its factories, in parking lots, and at ports around the world. As we noted then, there were so many extra Teslas that you could easily see how packed the parking lots were from space.

1 week ago | sherwood.news | Rani Molla

Tesla Technoking Elon Musk pushed aside his company’s long-awaited $25,000 car, known as the Model 2, in exchange for the Cybercab — even after internal Tesla analysis showed the pedal-less, driverless vehicles “might never be profitable,” The Information reports. Musk hoped he could sell millions of Cybercabs to individuals and for ride-sharing, but the internal analysis pegged those sales in the hundreds of thousands.

1 week ago | sherwood.news | Rani Molla

Wedbush analyst Dan Ives wrote in a note this morning that the “concept of a US made car with all US parts is a fairy tale fictional narrative,” so he considers potential tariff relief to be “good news” for Tesla, as well as GM, Ford, and Stellantis. Despite manufacturing its cars for the US market in the US, Tesla still relies heavily on parts made in other countries, including Canada and Mexico.

1 week ago | sherwood.news | Rani Molla

Apple is currently in tariff limbo, having been exempted from reciprocal tariffs and not yet having been assigned sector tariffs. Presumably, the new tariffs won’t be as bad as the previous 125% levies Apple was facing on China imports, so the hit to Apple’s earnings will likely be much less. Investors consider that pretty good news, with the stock closing up over 2% today — enough to bring Apple back into the $3 trillion club, which it had exited 10 days ago.