Former Tesla exec claims EV industry will grow, not shrink, after death of $7,500 tax credit: ‘The market’s established’

This week's Wall Street Week highlights key insights from Steven Rattner on the labor market and economic growth, alongside Ford CEO Jim Farley's vision for the company's future and American manufacturing. The discussion also touches on Australia's potential to innovate beyond its resource-based economy and how AI is transforming healthcare by allowing doctors more time with patients. These topics are crucial as they reflect the evolving landscape of the economy and the impact of technology on various sectors.

California Governor Gavin Newsom recently commented on the success of Tesla and its CEO Elon Musk, suggesting that his administration's policies have played a role in that achievement. However, this raises questions about the ongoing subsidies for Tesla, prompting a discussion on the balance between supporting innovation and fiscal responsibility. This matters because it highlights the complexities of government involvement in the tech industry and the implications for future policies.

This week saw significant movements in the stock market, with companies like Pfizer, Tesla, and Electronic Arts making headlines. Pfizer's advancements in healthcare continue to boost investor confidence, while Tesla's innovations in electric vehicles keep it at the forefront of the automotive industry. Electronic Arts is also gaining traction with its latest gaming releases. These developments are crucial as they not only reflect the companies' performances but also influence market trends and investor sentiment.

A lawsuit has been filed against Tesla after a college student, Krysta Tsukahara, was trapped inside a Cybertruck that caught fire following a crash caused by a driver under the influence. This incident raises serious concerns about vehicle safety and design, particularly regarding emergency exits in electric vehicles. As more consumers turn to electric cars, the implications of this case could influence public perception and regulatory scrutiny of Tesla's safety features.

Tesla is facing lawsuits from families of two Californians who tragically died in a fire after being trapped in a Cybertruck due to its faulty electronic doors. These doors, designed for convenience, reportedly malfunctioned, preventing the victims from escaping or being rescued. This situation raises serious concerns about the safety of innovative automotive technologies and the responsibilities of manufacturers in ensuring their products do not pose a risk to users.

Freedom Capital Markets has raised its price target for Tesla's stock to $338, citing strong delivery numbers as a key factor. This adjustment reflects growing confidence in Tesla's performance and market position, which could attract more investors and positively influence the stock's trajectory. As Tesla continues to deliver impressive results, this news highlights the company's resilience and potential for future growth.

In premarket trading, Tesla and Rumble saw an uptick in their stock prices, indicating positive investor sentiment, while Apple experienced a decline. This shift in the market highlights the volatility and changing dynamics within the tech and automotive sectors, which can impact investor strategies and market forecasts.

Ford and GM have found a way to keep the $7,500 EV tax credit alive by utilizing an IRS loophole for select lease deals. This is significant because it allows consumers to still benefit from the tax incentive, making electric vehicles more affordable and encouraging their adoption. As the market for EVs continues to grow, this move could help maintain momentum in the transition to greener transportation.

Tesla's proposal to grant Elon Musk a staggering $1 trillion in compensation is facing significant backlash from investors and state officials. They argue that the company's board has not adequately overseen Musk's leadership, raising concerns about governance and accountability. This situation is crucial as it highlights the tension between executive compensation and shareholder interests, potentially impacting Tesla's reputation and stock performance.

Tesla's sales in the UK remained flat in September, a surprising contrast to the overall growth in the electric vehicle market. This stagnation raises concerns about Tesla's competitive edge in a rapidly evolving industry, especially as other manufacturers are gaining traction. Understanding these dynamics is crucial for investors and consumers alike, as it may signal shifts in market preferences and the effectiveness of Tesla's strategies.

Mira Murati, a 36-year-old tech prodigy, has made waves in the artificial intelligence sector, rising to prominence at OpenAI after impressive stints at Goldman Sachs and Tesla. Now, she leads her own startup, which has caught the attention of tech giant Mark Zuckerberg, highlighting her influence and the potential of her innovations. This matters because it showcases the growing importance of AI in the tech landscape and the competitive nature of the industry, where talent like Murati's is highly sought after.

Tesla has officially launched the sale of its highly anticipated Cybertruck in Qatar, marking a significant expansion of its market presence in the Middle East. This move not only showcases Tesla's commitment to innovation and sustainability but also caters to the growing demand for electric vehicles in the region. The Cybertruck's unique design and advanced features are expected to attract a lot of attention from consumers, making it a noteworthy addition to Qatar's automotive landscape.

The mayor of Pohang, South Korea, has taken a bold step by protesting outside the White House against President Trump's tariffs, which have severely impacted the local steel industry. This situation highlights the broader consequences of U.S. trade policies on international markets, particularly for cities like Pohang and Pittsburgh that are deeply rooted in steel production. As these tariffs continue to strain local economies, the mayor's actions underscore the urgent need for dialogue and reconsideration of such policies.

Walmart is offering a stylish Bluetooth speaker that typically retails for $199 at an incredible price of just $28. This multifunctional device not only serves as a speaker but also functions as a clock and a decorative piece, making it a great addition to any home. This deal is significant as it provides consumers with an affordable option to enhance their audio experience without breaking the bank.

The German economy ministry has slightly revised its growth forecast for 2025 to 0.2%, indicating a cautious optimism about the country's economic recovery. This adjustment reflects a more favorable outlook amidst ongoing global economic challenges, suggesting that Germany may be on a path to stability. Such forecasts are crucial as they influence investment decisions and economic policies, impacting the overall economic landscape.

The recent government shutdown has led to a situation where national parks will remain mostly open, but many services will be unavailable. This means visitors can still enjoy the natural beauty, but they should be prepared for limited amenities and potential disruptions. It's important for travelers to plan accordingly, as this could affect their experience in these beloved outdoor spaces.

A senior US senator is advocating for increased pressure on China regarding its stance on Taiwan. This move is significant as it reflects the growing concern in the US about China's assertiveness in the region and aims to support Taiwan's autonomy. By pushing for stronger measures, the senator hopes to deter any aggressive actions from China, ensuring stability in East Asia and reinforcing US commitments to its allies.

A significant number of adults are not having crucial conversations about their long-term care needs with family or healthcare providers. This lack of preparation can lead to serious challenges in accessing appropriate care when it is needed most, highlighting the importance of proactive planning and communication.