Musk tweets Tesla to end customer referral plan due to expenses
Tesla Inc’s customer referral incentive plan is going to end on February 1, the electric automaker’s CEO Elon Musk tweeted on Thursday, citing costs. Musk tweet here that the referral program is ending as “it’s adding too much cost to the cars, especially Model 3”. Musk in the past few months has been pushing for cost-cutting plans
- Published in Press Releases
Tesla names Larry Ellison to board
Tesla Inc on Friday named Oracle Corp co-founder Larry Ellison, a shareholder and self-admitted close friend of CEO Elon Musk, to its board to give the independent oversight demanded by U.S. regulators following Musk’s tweet about taking the electric automaker private. The move is meant to bring Tesla past months of turbulence after Musk’s August
- Published in Tesla
Tesla, GM weigh fate of Ohio plant Trump wants saved
Tesla CEO Elon Musk boosted hopes again on Thursday that he could ride to the rescue of a threatened General Motors car plant at the center of a political storm regarding auto jobs, and GM responded, saying the Ohio factory’s fate depends on union talks in 2019. Musk suggested in a Twitter exchange with outgoing
- Published in General Motors, Tesla
Tesla begin taking Model 3 orders in China
Tesla Inc begin taking orders for its Model 3 sedan in China for a deposit of 8,000 yuan ($1,153.60), as per the electric automaker’s China website www.tesla.cn/model3/reserve. CEO Elon Musk stated, “Probably some deliveries in March, but April is more certain”, after one Twitter user asked when the deliveries in China would start. Tesla has
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Tesla to deliver new Model 3 orders by end of this year
Tesla Inc CEO Elon Musk stated on Thursday that Model 3s ordered in the United States by the end of this month are going to be delivered by December 31, as the electric automaker attempts to take advantage of tax breaks. “Tesla just acquired trucking capacity to ensure Model 3 can be delivered in U.S.
- Published in Tesla
Baillie Gifford wants to invest more in Tesla
Baillie Gifford & Co, one of the leading shareholders of Tesla Inc, has stated it would be willing to invest more money into the electric automaker, the Times reported on Monday. “If he (Tesla CEO Elon Musk) needs more capital we would be willing to back him,” stated Nick Thomas, a partner at Edinburgh-based Baillie
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Tesla has not received subpoena on Model 3 production, says company
Tesla Inc has not received a U.S. subpoena related to its Model 3 production forecasts, the electric automaker stated on Friday, after a report that it dealt with a deepening criminal investigation about the projections. The company has cooperated in replying to what it called a “voluntary request” for documents from the Department of Justice
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Tesla shares surge as Musk delivers quarterly profit
Tesla Inc shares boosted on Thursday as Wall Street analysts stated the company had turned a corner with profitable third quarter results and it may no longer need need to raise outside capital. Increasing 12 percent at one point in early trading, the move in shares has contributed as much as $6 billion to Tesla’s
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T. Rowe Price boosts stake on Tesla in vote of confidence for Musk
Tesla shareholder T. Rowe Price Group Inc raised its stake in the electric car maker by nearly half in the July-September quarter, according to a regulatory filing on Wednesday, an apparent vote of confidence for CEO Elon Musk. A subsidiary of T. Rowe that manages the company’s mutual funds boosted its investment in Tesla to
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Musk to step down as Tesla chairman, remain as CEO in SEC settlement
Tesla Inc and Elon Musk have accepted to pay $20 million each to financial regulators and the billionaire are going to step down as the company’s chairman but remain as chief executive, under a settlement that caps two months for the automaker. The securities fraud agreement, revealed by the U.S. Securities and Exchange Commission on
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Tesla’s Elon Musk would no longer pursue $72 billion take-private deal
Tesla Inc CEO Elon Musk stated late on Friday he would no more pursue a $72 billion deal to take his U.S. automaker private, abandoning an idea that had shocked investors and drawn regulatory scrutiny. The decision leaves Tesla as a publicly listed company but raises new concerns regarding its future. Its shares have been
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Norway wealth fund permitted to stay on as investor if Tesla goes private
Rules governing Norway’s $1 trillion wealth fund would permit it to stay on as an investor in Tesla if the electric automaker goes private, its deputy CEO stated on Tuesday. Tesla CEO Elon Musk shocked financial markets this month when he informed on Twitter he was thinking a $420 per share take-private deal for the
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Saudi PIF in talks to invest in Tesla competitor Lucid
PIF, the Saudi Arabian sovereign wealth fund that Tesla Inc CEO Elon Musk has stated could assist him fund a $72 billion deal to take his automaker private, is looking forward to invest in aspiring Tesla competitor Lucid Motors Inc, people knowledgeable with the matter stated on Sunday. The discussion between privately-held Lucid Motors and
- Published in Tesla
Slow disclosure by Tesla raises governance, social media concerns
Tesla Inc’s handling of CEO Elon Musk’s proposal to take the automaker private and its failure to promptly submit an official disclosure has raised governance issues and sparked questions about how companies utilize social media. Musk stunned investors on Tuesday by announcing on Twitter that he was thinking about taking Tesla private in a potential
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Saudi Arabia’s PIF is not interested in bankrolling Tesla buyout
Saudi Arabia’s Public Investment Fund (PIF) has shown no interest so far in funding Tesla Inc CEO Elon Musk’s proposed $72 billion deal to take the U.S. electric automaker private, despite acquiring a small stake in the company this year, two sources knowledgeable with the matter stated. The 47-year-old investor and engineer stunned financial markets
- Published in Tesla