34 percent depreciation after one year and 6,000 miles
Recap: Although the Cybertruck began missing CEO Elon Musk's stated goals as soon as it launched in late 2023, the odd-looking electric pickup truck sold well out of the gate. However, the vehicle's commercial performance has tanked over the last few months. Musk's political activities have soured public opinion on the company and contributed to declining global sales.
In brief: Tesla has vehemently denied a report by the Wall Street Journal that alleges the EV giant's board contacted recruitment firms to search for a replacement for Elon Musk as CEO. Musk called the article "deliberately false" and an "extremely bad breach of ethics."
It's not the first time someone has made this claim
A hot potato: Tesla is being sued over allegations it alters the odometers of customers' cars. According to the lawsuit, the automaker does this to increase the money it makes on repairs, avoid warranty obligations, and force customers to purchase warranty extensions early.
What just happened? Elon Musk has orchestrated another move in his sprawling business empire, announcing on Friday that his artificial intelligence firm, xAI, has acquired X (formerly Twitter). The all-stock transaction values X at $33 billion, including $12 billion in debt, and xAI at $80 billion, creating a combined entity Musk says will "unlock immense potential" and provide "smarter, more meaningful experiences" for users.