Companies

Can Tesla join $1 trillion club with 5 major issues?

Published

4 years ago

October 20, 2021

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Tesla’s performance in stock market remained fluctuated since CEO Elon Musk’s decision to buy $1.5 billion Bitcoin and rising concerns about safety and quality of Tesla vehicles from Chinese customers.

However, the company gained 30 percent at the S&P 500 after it registered record profit in second quarter.

Analysts predict another feat for the company when it will be publishing its positive results backed by strong shipments in the past three months despite hike in its prices due to a chip shortage and supply issues. With the potential positive financial results, the $870 billion carmaker could join the club of corporate titans like Amazon, Microsoft and Apple, which have over $1 trillion value.

Earlier this month, Musk claimed that his company can keep at least 50 percent annual growth rate in sales. He only considered the issue of shipment from China, playing down the chip shortage. But this problem would be wiped out with the opening of a new factory in Europe that would reduce burden of imports from China.

However, there are still 5 major issues that can create a hurdle for Tesla to join $1 trillion club.

Gigafactory Berlin-Brandenburg

Tesla’s upcoming project in Germany is facing a challenge from the local advocacy groups who are voicing concern over the plant’s effects on the region. A German television channel also run a documentary over the potential threats to the region’s water supply and the carmaker’s so-called anti-union policies. The company is depending on the plant for massive production for Europe and Musk wants to deliver the first Model Y vehicles from the factory before year-end. But Musk may have to demolish the plant if the site does not get final approval.

Cybertruck

Tesla has suddenly withdrawn its upcoming Cybertruck from its online ordering site without giving any explanation. The move shocked over one million customers who had already placed their orders. There are some speculations that Tesla pulled the vehicle due to rising cost or it was just like Musk’s previous decision when he cancelled the Model S Plaid+ this summer. This move may be risky for Tesla at the time when its rival Rivian is launching R1T.

Megapack

Tesla is working on storing renewable energy after soaring prices of various fossil fuels. The company has already installed its household Powerwall and industrial-size Megapack systems in Lathrop, California. Houston city is also set to install Tesla’s 100 MW battery farm. But the overall project is slowing down with the chips required for these products being supplied to the company’s cars.

Full Self-Driving beta

This month, Tesla gave early access of Full Self Driving beta program to its American customers. The move has created some risks as well. Analysts are raising questions that how the experimental technology can be given to customers. They are also of the view that the program’s name is misleading as it shows the system has the capability of self-driving which it does not have. Musk has also proposed that the program should not be handed over to the customers having poor driving records. Despite Musk’s suggestion, Tesla granted Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, access to the program, ignoring his terrible official safety score.

Tesla Bot

Tesla announced its Project Optimus in August to develop a humanoid robot prototype. Musk had claimed that the bot would be able to perform dangerous tasks. However, he also warned of threats of artificial intelligence. The project was launched jut weeks after Tesla’s South Korean rival Hyundai purchased Boston Dynamics to produce robots. Analysts are raising concern over Tesla’s project despite AI threats.

Announcements

Royaloak launches in UAE bringing Indian design excellence to gulf

Published

1 day ago

June 29, 2025

Staff Reporter

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Royaloak Furniture, one of India’s largest organised furniture retail chains, has announced its entry into the UAE market as part of a broader international expansion strategy. With an operational history spanning over 15 years and a customer base exceeding 5 million, the brand has opened three stores in the UAE—located in RAK Mall (Ras Al Khaimah), Lulu Mall (Fujairah), and Silicon Central Mall (Dubai)—each spanning nearly 20,000 square feet.

The move comes at a time when the UAE’s furniture and home décor industry is witnessing steady growth, driven by a combination of increased real estate development, rising urbanisation, and a growing population of design-conscious consumers. According to industry estimates, the UAE furniture market was valued at approximately USD 5.1 billion in 2024 and is projected to reach USD 5.4 billion by 2033, growing at a CAGR of 4.18%.

Royaloak’s entry adds momentum to the region’s expanding mid-to-premium furniture segment. The brand is known for its “Country Collection” that showcases curated pieces inspired by American, Italian, and Malaysian designs. The company sources products from manufacturing hubs across Asia and Europe, aiming to balance aesthetic appeal with functional quality.

“Our UAE expansion is aligned with market demand and retail opportunity,” said Mathan Subramaniam, Co-Founder and Managing Director of Royaloak. “What sets us apart is a vertically integrated model—from sourcing to distribution—which ensures both product consistency and affordability. With our dedicated warehouse in the UAE, we are equipped to provide fast, reliable delivery and a localised shopping experience.”

The stores are designed to cater to a wide demographic—offering furniture for living rooms, bedrooms, offices, dining areas, and outdoor spaces, in addition to home décor and mattresses. Each outlet is supported by Arabic-speaking staff to ensure culturally attuned customer service.

In tandem with its retail footprint, Royaloak has launched a dedicated UAE e-commerce platform, while also partnering with Amazon UAE and Noon to strengthen its omnichannel presence. The brand’s UAE entry is not just an expansion strategy but also a commitment to job creation and customer-centric innovation in one of the Middle East’s most competitive retail landscapes. The company plans further expansion across the Emirates in the coming year

Announcements

UAE announces fuel prices for June 2025

Published

1 month ago

May 31, 2025

Staff Reporter

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The UAE fuel price committee on Saturday announced petrol and diesel prices for the month of June 2025.The Fuel Prices Monitoring Committee has kept the prices unchanged from the month of May.

Super 98 petrol will cost Dh2.58 a litre, compared to Dh2.58 a litre in May, while Special 95 will cost Dh2.47 a litre, compared to Dh2.47 a litre the previous month.

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E-Plus category petrol will be available for Dh2.39 a litre, compared to Dh2.39 a litre in May, while diesel will now cost Dh2.45 a litre, compared to Dh2.52 a litre the previous month.

The UAE deregulated fuel prices in 2015, aligning them with market fluctuations.

Fuel prices in the UAE are tied to movements in the global oil market, which has experienced significant volatility since the beginning of the year.

Business

BEYOND Expo 2025 kicks off in Macau with over 800 tech companies, investors and global innovators

Published

1 month ago

May 22, 2025

Michael Gomes

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Asia’s biggest technology gathering, BEYOND Expo 2025, opened its doors on Wednesday, May 21, at The Venetian Macau’s Cotai Expo, marking its fifth anniversary with the theme “Empowering Asia, Bridging the World.” Running from May 22 to 24, the event brings together over 800 companies, 25,000 visitors, and more than 800 investors from around the world.

Covering everything from AI and HealthTech to Clean Energy, Robotics, FinTech, and SportsTech, the expo offers a glimpse into the future of innovation and how it’s shaping Asia’s global tech footprint.

The expo also offers unique opportunities for UAE, Saudi Arabia, and other GCC countries to explore cutting-edge solutions in AI, HealthTech, Clean Energy, FinTech, and Robotics, all aligning closely with national visions like “We the UAE 2031” and Saudi Vision 2030.

The opening day drew a crowd of top tech minds who took part in a high-profile panel titled “What’s Next?” Speakers included Alibaba Cloud founder Dr. Jian Wang, Carl Pei, CEO of smartphone brand Nothing, Dr. Burt Guo of Sichuan Aerofugia, Zhaopeng Chen of Agile Robots, and Jingkang Liu, founder of Insta360.

The event also marked the launch of the BEYOND Founders Club (BFC), a new community that aims to connect Asia’s rising tech entrepreneurs and help shape the future of innovation. BEYOND Expo Co-Founder Dr. Lu Gang said the expo was created in 2021 to highlight Asia’s tech progress on a global stage. “We are thrilled to celebrate our fifth year with our largest lineup yet,” he said.

Co-Founder Jason Ho added, “Launching the Founders Club is a powerful step. We believe technology should serve humanity, and this community will help guide the next generation of tech leaders.”

Alongside the expo, a packed schedule of over 300 speakers will lead summits and forums on major trends and topics. These include the Global Investment Summit, AI Summit, Wealth Summit, Fashion Tech Forum, Gen-Z Founder Forum, and SHETECH Summit, among others.

Investment plays a major role at BEYOND Expo, with live funding events like Fund at First Pitch, where 150 companies are competing in front of more than 100 investors for the chance to secure funding. The Wealth Summit, held in partnership with the Asian Family Legacy Foundation and Greenwich Economic Forum, highlights the growing role of family offices and regional investors in shaping the global innovation ecosystem.

For innovators and investors across the Gulf region, BEYOND Expo presents a valuable opportunity to connect with global tech leaders and explore partnerships, as Gulf countries continue to diversify their economies through investments in AI, clean tech, and smart industries, events like BEYOND offer access to cutting-edge trends, emerging markets, and cross-border collaboration with Asia’s fastest-growing tech hubs.

Held at The Venetian Macau’s Cotai Expo, one of Asia’s largest MICE (meetings, incentives, conferences and exhibitions) venues, the event is supported by Sands Resorts Macau, known for its luxury hotels, shopping, dining and entertainment experiences.

For more information, visit: www.beyondexpo.com