Business Related

Business News – 08-27-2021

Tesla has applied to become a Texas electricity provider

  • Tesla filed an application with the Texas Public Utility Commission to sell electricity in the state as the company’s big battery build-out in Angleton, Texas comes online
  • The company aims to connect a 100 megawatt energy storage system to the grid and has already built several utility-scale energy storage systems across the globe

Disappointing earnings cause Peloton stock to fall

  • On August 26, Peloton reported that revenue growth in their 4th fiscal quarter dropped off dramatically
  • The company posted a bigger-than-expected loss as costs from its treadmill recall mounted and also offered up a disappointing revenue outlook for its 2022 first quarter

Ford F-150 pickup truck production cut due to chip shortage

  • Due to the ongoing semiconductor shortage, Ford is cutting production of another one of their vehicles, their F-150 pickup truck along with 2 others starting August 30
  • The two other vehicles experiencing the cut in production are the Ford Edge and Lincoln Nautilus crossovers
  • Ford has been impacted particularly hard by the lack of chips, losing about 50% of its planned production in the second quarter.

K Buenavista

Mr. Buenavista is a writer that specializes in breaking down complex topics into easy to understand formats that appeal to a wide range of news seeking readers, without missing the important details. He handles a majority of the daily news reporting at Easy-Ad, and has written on many other websites. He resides in Southern California.

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