Tesla, Inc. Announces Directorate and Executive Changes

Elon Musk is closer to achieving his goal of transferring Tesla's headquarters to Texas as Tesla's Q3 2024 earnings release indicates a positive performance by the company. The automotive giant reported a profit of $1.9 billion in the third quarter of this year, which marks a significant improvement from its net loss of $1.48 billion during the same period last year. This surge in profits is attributed to the increased production and sales of Tesla's electric vehicles (EVs), particularly the Model S, Model X, and Model Y. The company's manufacturing capacity has grown with the expansion of the Gigafactory Texas, which began production in 2022. As of the end of 2023, Tesla had seven manufacturing sites located in the United States (five), China, and Germany, with net sales distributed geographically as follows: the United States (46.7%), China (22.5%), and other countries (30.8%).