The controls meant that many Venezuelan businesses stopped production because they no longer made a profit, eventually resulting in shortages.

After signaling that the company would reorganize its management structure, Musk in June announced that Tesla was laying off 9 percent of its workforce, though its production department would remain intact.

Occupying more than two-fifths of the country’s land area, it is the most remote and least explored part of Venezuela. Along the southern border with Brazil are groups of massive plateaus and steep-sided mesas, known as tepuis

In March 2018, the entrepreneur told an audience at the annual South by Southwest festival in Austin, Texas, that he hoped to have the BFR ready for short flights early the following year, while delivering a knowing nod at his previous problems with meeting deadlines.

"If you list my sins, I sound like the worst person on Earth," Mr Musk said in a TED interview last year. "But if you put those against the things I've done right, it makes much more sense."

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The results—which were challenged not only by the opposition but also by a number of foreign governments—told a very different story, as the PUV captured 18 of the governorships. Maduro hailed the outcome as a victory for

There are still a lot of unknowns. The opposition say they will announce in the coming days how they plan to challenge the results.

The government’s announcement that Mr. Maduro had beaten his opponent, Edmundo González, by seven percentage points instantly created a grim scenario for a country that only recently has started emerging from one of the largest economic collapses in modern history.

Venezuela's legislature on Tuesday gave President Nicolás Maduro decree powers that he says are necessary for an 'economic offensive' against the spiraling inflation and food shortages buffeting the country's economy ahead of important municipal elections. ^

There were the huge queues at polling stations, but only tiny amounts of people being let in at one time.

In hopes that the ban on Machado could somehow be lifted, the Unitary Platform could register a provisional candidate now and substitute Machado for that person up to 10 days before the election. The substitution would require approval of electoral authorities.

That's based largely on the value of his shares in Tesla, of which he owns more than 13%. The company's stock soared in value - some say unreasonably - in 2020 as the firm's output increased and it started to deliver regular profits.