Saturday, December 10, 2022
HomeDigit NewsElon Musk lost $ 15 billion in one day, the effect of...

Elon Musk lost $ 15 billion in one day, the effect of a huge fall in Tesla’s shares

Elon Musk, the chief of electric car maker Tesla and the world’s richest man, lost more than $15 billion in a single day. The reason for this is the biggest fall in Tesla’s shares in four months. The delay in delivery of cars by the company to the customers is affecting its shares.

Bloomberg Billionaires Index According to reports, Musk’s wealth has decreased by more than six percent in one day. Musk’s total wealth as of October 4 was about $223 billion. Tesla has delivered 3,43,830 vehicles to customers in the last three months. This is lower than analysts’ estimates of 3,58,000 vehicles being delivered. Tesla’s stock price fell more than 8 percent on Monday. This is the biggest fall in the company’s stock since the beginning of June. The company says that for it the delivery of vehicles increases at the end of each quarter and the lack of transportation capacity is delaying the delivery of cars to the customers.

Apart from Tesla, Musk is also the chief executive of space rocket maker SpaceX. He also has a stake in the social networking company Twitter. He has also expressed his intention to complete the deal to buy Twitter. Recently, BYD, one of China’s largest automobile companies, has sold the highest number of electric vehicles (EVs) globally, beating Tesla. BYD sold around 3,54,000 EVs in the second quarter of the current financial year with an annual growth of 266 per cent. Tesla’s sales during this period stood at around 2,54,000 units.

According to Counterpoint’s Global EV Sales Tracker, total sales of these vehicles grew by 61 per cent year-on-year to 2.18 million units in the second quarter. China tops this market with 12.4 lakh units. In China, this sales grew by about 92 percent on a year-on-year basis. Europe and America were ranked second and third. This is the first time that an automobile company has introduced an EV. sales I have left Tesla behind. Semiconductor shortages and the pandemic were the main reasons for Tesla’s sales decline. However, the second half of this year is likely to be better for the company.

- Advertisement -

- Advertisment -

- Advertisment -spot_imgspot_imgspot_img


Two Wheeler


Digit News