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Tesla shares declined 5.5% on Tuesday after the company said Monday it reached its goal to produce 5,000 Model 3 cars during the last week of the June quarter, as the tide among several Wall Street firms drifts toward skepticism about the company.

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FleetCor Joins S&P 500 Index

Fuel payment provider FleetCor Technologies has joined the S&P 500 Index as one of 500 leading U.S. companies that combine to capture about 80% of the market capitalization. FleetCor shares trade on the NYSE under the ticker FLT.

GM's Autonomous Vehicle Initiative Draws $3.3B

The General Motors autonomous driving unit, GM Cruise Holdings, will receive $3.35 billion in new capital investment to further accelerate its research toward producing a market-ready fully autonomous vehicle, the company has announced.

Element's Fleet Revenue Rises From Year Ago

Toronto-based Element Fleet Management increased gross revenue from its fleet business by 10.5% to $1.47 billion Canadian ($1.14 billion in U.S. dollars) in the first quarter and grew revenue 2.8% to $1.43 billion ($1.11 billion) from the fourth quarter of 2017, the fleet management company has reported.

ELD Supplier FleetUp Raises $20M, Appoints CEO

FleetUp has raised $20 million in funding led by HUMAX, which has appointed as chief executive officer its corporate chief strategy officer and president of HUMAX Americas & China, Albert Son, the company announced.

Workhorse to Spin Off Aviation Business

Workhorse Group announced its intention to spin off its aviation division, which includes its SureFly personal helicopter, into a separate publicly traded company named SureFly Inc. – but it will hold on to the HorseFly drone designed for parcel deliveries.

Investors Make Tesla Most Valuable Automaker

Tesla Inc. has surpassed General Motors in market capitalization to become the most valuable publicly traded automaker as investor enthusiasm continues to ramp up for the company.

Tesla Delivers 25K Vehicles in Q1

Tesla Inc. increased its vehicle deliveries 69% to just over 25,000 vehicles in the first quarter, a move that sent investors to drive Tesla shares sharply higher this week.

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