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Elon Musk has already sold much more Tesla shares than was needed to pay taxes

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Elon Musk has already sold more Tesla shares than he needed to pay his current tax liabilities. Experts suggest he is either converting some of his fortune from stocks into cash, or is saving it for higher taxes due next year.

As of early Wednesday, Musk has sold roughly 8.2 million shares of the electric vehicle and solar panel maker over the past nine days, for a total of just over $ 8.8 billion. At the same time, he sold shares for about $ 5 billion more than he currently needs to pay taxes.

Musk has the option to buy 26.4 million shares. The options expire the next year when taxes are due. Wedbush analyst Daniel Ives reckons it is about $ 10-15 billion, depending on the stock price. Musk’s options have so far allowed him to buy shares at $ 6.24 a share, while they are priced at around $ 1080.

Eric Gordon, a professor of business and law at the University of Michigan, suggested that Musk expects the share price to fall: “If you think that the stock will rise or stay at the current level, you will not sell additional shares.”

Dan Ives, an analyst at private equity firm Wedbush Securities, said: “If he hadn’t done a Twitter survey and just started selling the stock, the stock would probably be 15% cheaper than it is today.”

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Electric Cars

Weight 15 kg, 25 km / h, soft suspension and load capacity 100 kg, inexpensive. Yadea KS3 Electric Scooter Introduced

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Electric vehicle manufacturer Yadea has released the convenient, lightweight and inexpensive Yadea KS3 electric scooter, which is a smaller version of the more expensive, powerful and heavier Yadea scooters.

It is designed for drivers who need to carry it frequently by hand when reaching their destination. Therefore, they do not need to worry about the scooter being stolen in the parking lot. This foldable scooter weighs just under 15 kg and has a payload of 100 kg. It can reach a top speed of 25 km / h and has a 500 W motor.

The KS3 competes favorably with electric scooters in its price range. It boasts some additional features that will draw extra attention to it. The Yadea KS3 has a soft front suspension that helps smooth bumps. The 8.5 x 2.4 inch tires do not need to be inflated. The minimum wear resistance of the tires is about 5,000 km. With a declared range of 30 km without recharging, tires can last for several years and more than 150 full charge cycles.

The front drum brake is also an innovative feature of the KS3. The drum brake is maintenance-free and sealed to better protect it from dirt and damage. Brake drums will not fade in wet conditions. Likewise, the rear brake is durable and requires no maintenance. The rear brake charges the battery during braking on the road.

The Yadea KS3 is cheaper than its faster predecessors. The Yadea KS3 electric scooter costs $ 569 and can be purchased on Amazon.

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Electric Cars

Elon Musk continues to sell Tesla shares. How the course reacts

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Tesla founder Elon Musk sold more Tesla shares a week ago than he needed to pay his current tax liabilities. At that time, the amount was $ 8.8 billion, but he continues to sell shares in the company.

He sold another 934,091 shares this week for $ 1.05 billion. Since the beginning of this month, he has sold nearly $ 10 billion worth of shares in the company. Initially, he announced that he would sell 10% of the company’s shares, at that time they were valued at $ 21 billion. That is, he has now sold about half of the planned number of securities.

The sharp drop in Tesla shares happened after a poll in which Elon Musk asked readers if he should sell the company’s shares. Then the rate fell from 1200 to 1000 dollars, but then there was an adjustment, and now the companies give about 116 dollars per share.

Eric Gordon, a professor of business and law at the University of Michigan, previously suggested that Musk expects the stock price to fall: “If you think the stock will rise or stay at its current level, you will not sell additional shares.”

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Electric Cars

Skoda has announced a sports crossover Afriq

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Skoda has officially announced the first details about the Skoda Afriq sports crossover, which is being created by 25 vocational school students in cooperation with Skoda Motorsport.

This is the rally version of the Skoda Kamiq city SUV, which is dedicated to the legendary Dakar Rally in Africa. The name Skoda Afriq was also chosen for another reason: Since the beginning of this year, Skoda has been in charge of all Volkswagen Group activities in North Africa.

The letter “Q” at the end of the car’s name indicates its belonging to the Skoda crossover family – by analogy with the Kodiaq, Karoq, Kamiq and Enyaq models. It has already been determined that the Skoda Afriq has a length of 4362 millimeters and a wheelbase of 2649 millimeters.

What kind of improvements Skoda Afriq will receive in comparison with Skoda Kamiq has not yet been reported. The standard crossover Skoda Kamiq has been produced in Europe since 2019. In the maximum configuration, it has a 1.5-liter petrol engine with a capacity of 150 hp. with. with 250 Nm of torque.

Skoda has announced a sports crossover Afriq

At the 40th Desert Rally in 2018, the Kodiaq became the first Skoda ever to compete in what is arguably the world’s toughest rally. The large Skoda SUV was used as a support vehicle for the Czech Barth Racing team. The unmodified production model easily covered the nearly 10,000-kilometer route through Peru, Bolivia and Argentina – in some sections at an altitude of over 4,500 meters.

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