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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Tesla, Inc.    TSLA

TESLA, INC.

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California's new coronavirus curfew does not apply to Tesla workers -state health dept

11/20/2020 | 05:37pm EST
FILE PHOTO: Tesla's primary vehicle factory in Fremont, California

(Reuters) - Workers at Tesla Inc's California vehicle factory are deemed essential and are not impacted by the state's latest restrictions to curb a new surge in coronavirus infections, the California health department said on Friday.

Tesla and local California officials in March engaged in a heated months-long standoff over restrictions imposed to curb the first wave of infections, which culminated in the company's chief executive, Elon Musk, defying health orders, suing local officials and threatening to leave the state.

California's governor on Thursday imposed a curfew on social gatherings and other nonessential activities.

Beginning on Saturday, the stay-at-home order prohibits non-essential business from 10 p.m. until 5 a.m. each day and applies in the majority of the state's counties, including Alameda County, where Tesla's factory is located.

Asked whether the order applied to workers at Tesla's Fremont factory, the California Department of Public Health in a statement said it did not apply to employees deemed essential workers, with manufacturing listed as an essential workforce.

"The Critical Manufacturing Sector identifies several industries to serve as the core of the sector including Transportation Equipment Manufacturing Products," the office said.

CNBC first reported on the health department's policies.

Under California law, local counties can impose more restrictive measures than mandated by the state. Alameda County on Friday did not immediately respond to a request for comment.

In a statement on Monday the county's health department said it was following state guidance, but may act to restrict activities beyond the state's requirements.

During the initial virus outbreak in March, local officials ordered Tesla to halt production and Tesla's factory remained shut down for roughly six weeks. Billionaire Musk in early May defied county orders by reopening the factory, telling county officials he stood ready for arrest.

By Tina Bellon


© Reuters 2020
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Financials (USD)
Sales 2020 30 702 M - -
Net income 2020 1 254 M - -
Net cash 2020 1 817 M - -
P/E ratio 2020 468x
Yield 2020 -
Capitalization 555 B 555 B -
EV / Sales 2020 18,0x
EV / Sales 2021 12,5x
Nbr of Employees 48 016
Free-Float 80,0%
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Technical analysis trends TESLA, INC.
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 37
Average target price 385,13 $
Last Close Price 585,76 $
Spread / Highest target -1,32%
Spread / Average Target -34,3%
Spread / Lowest Target -86,3%
EPS Revisions
Managers
NameTitle
Elon Reeve Musk Chief Executive Officer & Director
Robyn M. Denholm Chairman
Zachary Kirkhorn Chief Financial Officer
Kimbal Musk Director
Ira M. Ehrenpreis Independent Director
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