Tesla (TSLA) CEO Elon Musk may not have the full backing of the EV maker's board of directors to re-incorporate Tesla in Texas from Delaware. Yahoo Finance Legal Reporter Alexis Keenan highlights the boardroom challenges Musk may face in getting approval on this decision. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Shares of Rivian (RIVN) and LUCID (LCID) are falling after both EV companies deliver disappointing outlooks for 2024. For Rivian, while the company did see a 167% increase in revenue in 2023, production guidance and vehicle costs have been called into question by some on Wall Street. Lucid reported a quarterly loss of $0.29 per share. Yahoo Finance Anchors Brad Smith and Seana Smith break down the latest developments for the companies and what it could mean for the EV market moving forward. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
“They need to cut costs massively and the exec team needs to live in the factory or they will die,” said the billionaire Tesla CEO.