Tesla faces scrutiny over missing $1.4 billion

Tesla is facing scrutiny over $1.4 billion that appears to be unaccounted for in its financial statements. A recent report indicates that while Tesla spent $6.3 billion on capital investments in late 2024, its assets only increased by $4.9 billion. This discrepancy has raised alarms among accounting experts and investors. Despite having $37 billion in cash reserves at the end of 2024, Tesla still took on another $6 billion in debt last year. Accountants are concerned that the missing funds could indicate problems with the company’s financial reporting practices. If the company is misclassifying expenses, it might make its profits appear better than they actually are. Separately, Hyundai's leadership is not worried about potential changes to electric vehicle (EV) policies under former President Trump. Hyundai's new CEO, Jose Munoz, noted that a previous localization strategy has positioned the brand well against uncertainties in the automotive market. The company has committed over $12 billion towards U.S. manufacturing, which helps mitigate risks related to tariffs and policy changes. Meanwhile, Fisker Ocean owners are receiving some help from an unexpected source. After Fisker’s financial troubles, Rivian, another EV startup, has agreed to buy back some of the Fisker vehicles. Under a new plan, owners can sell their working Fisker cars to Rivian or trade them in for a Rivian vehicle. However, the buyback offers are lower than what owners originally paid, leading to mixed reactions among them. In light of these events, many Fisker owners are left questioning whether they would trust another startup like Rivian with their money. With the automotive landscape rapidly changing, confidence in new companies is shaky among consumers, especially after the ups and downs experienced with Fisker.