Investors are asking for a record risk premium for holding Tesla Inc’s $1.8 billion junk bond after the automaker posted a $700 million first-quarter loss and indicated it may be in the market for more capital soon. The cost on Tesla’s 5.3% note due August 2025 slipped, prompting its yield to the highest in about […]
Tesla
Tesla expects to have fully self-driving cars by 2020
Tesla expects to have fully self-driving cars in which humans won’t have to touch the steering wheel around the second quarter of 2020. The company made the declaration during an investor meeting at its Palo Alto, California, headquarters Monday, in which it highlighted its bold but risky bid to modify Tesla’s electric cars into driverless […]
Tesla investigates the apparent explosion of a parked car in Shanghai
Tesla has sent a team to investigate the explosion of one of its cars in Shanghai. Tesla stated Monday it immediately sent a team to probe an apparent explosion of one of its cars which took place in Shanghai on Sunday. No casualties have been reported at this time, the electric car company stated in […]
Tesla’s self-driving tech is ‘vastly ahead of everyone’, says Musk
Elon Musk thinks that Tesla is “vastly ahead of everyone.” Tesla CEO Elon Musk recently appeared on Lex Friedman’s Artificial Intelligence Podcast, where Musk spoke that how much longer people will be required to keep their hands on the wheel (“At least six months from here”) to what question would you ask of a very […]
Tesla and Panasonic to suspend spending on $4.5 billion Gigafactory
Tesla and Panasonic are freezing plans to boost the capacity of their Gigafactory 1, the largest EV battery plant of the world, as concerns mount on Wall Street regarding sales at Tesla dipping below estimates. The partners had planned to increase capacity 50% by next year, but with sales of electric vehicles performing less than […]
Tesla Model 3 will now cost more than $35,000
Tesla has modified the Model 3 lineup and increased prices because of newly standard Autopilot and removing the least costly Standard Range model from its online ordering The Standard Range car, is now going to cost more than the originally announced $35,000 base price ($36,200 with destination), now would be available only by special order. […]
Tesla starts offering leases for Model 3
Tesla Inc on Thursday started leasing out its Model 3 sedan in the United States, in a financing option that would boost the automaker’s client base. Tesla stated its clients in the United States would be able to lease any Model 3 variant for a small down payment and monthly payments thereafter, however, they will […]
Tesla, Panasonic to seek gains before more battery investments
Panasonic and Tesla will keep making new investments in the U.S. automaker’s Gigafactory as needed, but believe they can squeeze more out of present resources than earlier planned, Tesla stated on Thursday. Separately, Panasonic stated it was observing the demand situation in the electric auto market before making any further investments in boosting the capacity […]
Tesla stock down after reporting biggest sales drop in its history
Tesla on Wednesday reported a huge drop in auto sales for last quarter, though the company stated it’s confident it will still reach its yearly sales goal. About 63,000 vehicles were delivered to clients in the first three months of 2019 — a 31% decline compared to the prior quarter. The total sales figures consisted […]
Tesla sales lifts Norway’s electric car sales
Nearly 60 percent of all new cars sold in Norway in March were wholly electric, the Norwegian Road Federation (NRF) stated on Monday, a global record as the country looks forward to end fossil-fueled vehicles sales by 2025. Exempting battery engines from taxes enforced on diesel and petrol cars has upended the country’s auto market, […]
Tesla supplier agrees to purchase GM’s South Korean plant
A South Korean supplier of Tesla Inc stated on Friday it had agreed to purchase a shuttered auto factory from General Motors’ local unit to start contract manufacturing of electric vehicles. The deal comes after GM shut down one of its four South Korean plants in late May and let go thousands of employees, as […]
Judge rejects suit over Tesla Model 3 production
A federal judge in San Francisco rejected for the second time a securities fraud lawsuit brought by Tesla Inc shareholders accusing the company of misleading comments regarding the production status of its Model 3. U.S. District Judge Charles Breyer dismissed the lawsuit brought in October 2017. Breyer dismissed the original lawsuit in August but permitted […]
Tesla reveals Model Y, price starts at $39,000
Tesla Inc revealed its Model Y electric sports utility vehicle on Thursday in California, promising a much-awaited crossover that will see competition from European automakers. CEO Elon Musk stated the compact SUV, built on the same design as the Model 3, would first debut in a long-range version with a range of 300 miles (482 […]
Tesla backs off on store closures, plans increasing top-end price
Tesla Inc backtracked its strategy to close all of its U.S. stores and instead will increase prices of its high-end vehicles by about 3 percent on average, as it seeks to earn a profit. The company stated last Sunday that it would now be closing only about half as many stores than what was initially […]
Tesla moving sales online is a ‘leap of faith,’ says Mark Fields
Customers are used to seeing and testing a car, says Fields. Tesla’s decision to shift its sales completely online is a “leap of faith” that may not necessarily succeed, former Ford CEO Mark Fields stated on Friday. While the American automaker has a “very sustainable brand,” it has to find out how to churn out […]
