Tesla blames misprinted label for China customs issue
Tesla Inc stated on Tuesday that China’s customs officials have accepted the electric automaker’s plan to sort out issues with the clearance of its Model 3 sedans that centered around misprinting of labels. “We have already reached a resolution with Chinese customs, and we are working closely with them to resume clearance procedures on these
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China officials accept a solution to Tesla customs issue
China’s customs officials have accepted electric automaker Tesla Inc’s plan to remedy concerns with the clearance of imported cars, a source knowledgeable with the matter informed Reuters. Tesla shares dropped over 5 percent after financial publication Caixin reported previously that China had suspended customs clearance for the automaker’s Model 3 sedans, mentioning various irregularities including
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$35,000 Model 3 to reach volume production mid-year, says CEO
Tesla Inc CEO Elon Musk stated on Monday production of the $35,000 version of the automaker’s Model 3 will start this month, but would not reach “volume production” until mid-2019. “Gap in understanding is that $35k Model 3 production *starts* this month, but will not reach volume production until mid year. Extremely difficult to predict
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Tesla moves to dismantle store network
Tesla Inc’s move to get rid of its network of high-end showrooms as part of a strategy to release the long-awaited cheaper version of its Model 3 sedan has pushed the electric automaker into uncharted territory for a market that has long depended on physical stores to move the metal. Retailers from Amazon to Apple
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Volvo announces Polestar 2, aimed to compete with Tesla Model 3
Tesla is seeing another potential competitor in the electric vehicle market. Polestar, Volvo’s standalone electric vehicle brand, is revealing its Polestar 2 model, a five-door car that will have two electric motors. According to the company, the car is aimed to travel up to 275 miles on a single charge with its 78kWh battery. With
Tesla Model S the new star of the Fremont Police Department
When you think about electric cars, you don’t usually picture power, speed or the ability to participate in a high-speed chase. The Fremont Police Department in California is hoping to change this perception and reduce their carbon footprint by incorporating electric cars into their fleet. Which electric vehicles have the Fremont PD chosen, and why
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Tesla Inc introduces the $35,000 Tesla Model 3
Tesla has now introduced a Model 3 that cost at $35,000. Having 220 miles of range, a 5.6 second 0–60mph and over-the-air updates, Model 3 Standard Range is currently available to order at $35,000 before incentives. Although less in cost, it is constructed to achieve the similar perfect 5-star safety rating as the longer-ranged version,
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Consumer Reports pulls off recommendation for Tesla’s Model 3, citing reliability
Consumer Reports on Thursday yanked a recommendation for Tesla Inc’s Model 3, pointing out reliability issues, and the influential U.S. magazine turned up the pressure on other automakers to include crash-avoiding automatic braking as conventional equipment. The magazine’s decision to withdraw its recommendation for the Tesla Model 3 less than nine months after endorsing the
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Tesla’s top lawyer leaves two months into the job
Tesla Inc stated on Wednesday its general counsel Dane Butswinkas is departing from the electric automaker just two months into the job, the recent in a string of top-level departures at the company. Butswinkas, who joined Tesla in December and was reporting to Chief Executive Officer Elon Musk, will be back to his previous role
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T. Rowe Price reduces stake in Tesla to 5.2 percent
Tesla Inc shareholder T. Rowe Price Group Inc had a 5.2 percent stake in the electric car maker as of end-December, approximately half its earlier stake, a regulatory filing on sec.gov revealed on Monday. As of September, the company had a 10.12 percent stake in Tesla. Shares of Tesla increased 3 percent at $315.16 during
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Tesla to purchase Maxwell Technologies for $218 million
Tesla Inc has agreed to purchase energy storage company Maxwell Technologies Inc for $218 million in an all-stock deal that could assist the automaker produce batteries that hold more energy and last longer at a time when it has to cut expenses and faces increasing competition. Tesla is quickly boosting production of its Model 3
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Volkswagen’s Electrify America purchases Tesla devices for EV charging stations
Volkswagen AG unit Electrify America stated on Monday it will set up Tesla battery storage packs at over 100 charging stations throughout the United States to keep expenses down for drivers charging electric vehicles. Electricity users can incur high-demand charges from numerous U.S. utilities when they draw enough energy from the grid in a short
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Tesla CFO leaves as automaker promises cheaper Model 3 sedans
Tesla Inc’s CFO will leave the company as the automaker on Wednesday assured more affordable Model 3 sedans, the launch of Chinese production this year and revenues in every quarter in this year. The departure of Deepak Ahuja and missing Wall Street earnings targets for the end of the last year, sent Tesla shares down
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Tesla to reduce production hours for Model S and X
Tesla Inc stated on Wednesday it is reducing production hours for higher-priced Model S and Model X cars, just days after stating it would slash jobs as the automaker looks to make more affordable versions of the Model 3 sedan. The shares of the company dropped 4.2 percent to $286.09. Tesla also faces the unenviable
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Tesla holds battery supply talks Tianjin Lishen
U.S. automaker Tesla Inc has held conversations with China’s Tianjin Lishen to supply batteries for its new Shanghai factory, and two people with direct understanding of the matter stated the companies signed a preliminary agreement. The companies have yet to decide how large an order Tesla would place, and Lishen is still working out what
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