Tesla Inc got payroll-related benefits from the government in the first half of this year to help decrease the impact of the coronavirus crisis on its business, the electric automaker said in a filing on Tuesday. The company, whose CEO Elon Musk has voiced against further government aid as Congress debates another round of stimulus, […]
Elon Musk
Tesla picks Texas site for second US vehicle assembly plant
Tesla has selected the Austin area in Texas as the site for its largest auto assembly plant hiring at least 5,000 workers. The company will construct the project on a 2,100-acre tract in Travis County and will get over $60 million in tax breaks from the county and a regional school district. In a Wednesday […]
Tesla CEO Elon Musk qualifies for $2.1 billion payday
Tesla CEO Elon Musk qualified on Tuesday for a payout worth an unprecedented $2.1 billion, his second huge achievement since May from the electric automaker after its massive stock surge. On the same day, Tesla’s stock declined 3% in afternoon trading, crumbling a recent rally that has elevated the automaker’s market capitalization to almost $300 […]
Elon Musk becomes seventh richest person as Tesla stock continues to rise
Tesla Inc CEO Elon Musk is now the seventh-richest person in the world, surpassing well-known investor Warren Buffett, as Tesla’s stock continues to increase. Musk surpassed Buffett on Friday once Tesla shares hit an all-time high, giving Musk a net worth of about $70.5 billion, approximately $1 billion more than Buffett, according to Bloomberg. Tesla shares continued […]
Tesla to hold shareholder meet and ‘Battery Day’ on September 22
Tesla Inc will hold its yearly shareholder meeting in person on September 22 at its Fremont factory located in California, the electric automaker said on Friday. The company’s “Battery Day”, where it is expected to introduce significant advances in battery technology will also be held on the same day, the automaker said. CEO Elon Musk […]
Tesla to make molecule printers for COVID-19 vaccine developer CureVac
Tesla Inc is building mobile molecule printers to help make the possible COVID-19 vaccine which is being developed by CureVac in Germany, the electric automaker’s CEO, Elon Musk, tweeted on Wednesday. CureVac, an unlisted German company, has stated it is developing portable, automated mRNA production units that it calls printers and which Musk referred to […]
Tesla becomes most valuable automaker as valuation goes above $200 billion
Tesla Inc on Wednesday became the highest-valued automaker as its shares increased to record highs and the electric automaker’s market capitalization overtook that of former front runner Toyota Motors. The automaker’s shares gained 5% in early morning trade to a record of $1,133, increasing the company’s market cap to $209.47 billion – roughly $6 billion […]
Elon Musk calls on workers to help automaker break even in 2nd quarter
Tesla Inc CEO Elon Musk in an internal email called on workers to work hard to allow the electric automaker to break even in the second quarter regardless of the coronavirus pandemic. The rallying cry has become a familiar theme in recent quarters at the automaker, with Musk calling on workers to quickly build and […]
‘Battery Day’ and shareholder meeting likely on September 15, says Musk
Tesla Inc CEO Elon Musk has said September 15 is the tentative date for the company’s shareholder meeting and also “Battery Day”, at which the electric automaker is expected to reveal major advances in battery technology. The battery event, which Musk has promoted as being “one of the most of exciting days in Tesla’s history”, […]
Tesla reportedly negotiating incentives for Texas auto assembly plant
Electric automaker Tesla Inc is negotiating possible incentives with a Texas county that could make way for a new auto assembly plant to the region near Austin, the state capital, the Austin American-Statesman reported on Monday. Travis County Commissioners Court is set to talk about the terms of the deal on Tuesday, the paper reported, […]
Tesla Model Y experiencing production challenges, says Elon Musk
Tesla CEO Elon Musk has confirmed in a leaked email sent to company workers that there is an urgent need to address production related challenges of electric car Model Y and it is top priority for the automaker. “It is extremely important for us to ramp up Model Y production and minimize rectification needs. I want you to know that […]
How Coronavirus has Changed the European Car Industry
The coronavirus outbreak has had a major impact on the European automotive industry. Car manufacturers have shut down their factories all over the continent, and drop in the oil price has caused demand for electric cars to plummet. China has the world’s largest car industry, and the market fell by 80% already in February. Weeks […]
Volkswagen CEO praises Musk’s SpaceX success to motivate top executives
Volkswagen CEO Herbert Diess evoked the historic rocket launch by rival electric automaker Tesla’s CEO Elon Musk to motivate top executives at the automaker as they seek to overcome the auto industry’s biggest market decline in decades, people familiar with the matter said. Musk’s Space Exploration Technologies has become the first private company to launch humans into […]
California officials reject Musk’s SpaceX request for subsidies
A California state panel on Friday declined a request from Elon Musk’s SpaceX for $655,500 in state job and training funds, mentioning the chief executive’s recent threats to shift Tesla, the electric automaker that he also runs, out of the state. The rebuff comes as Musk has sparred with officials in Alameda County because of […]
Tesla, California county reach deal to resume plant next week
Tesla Inc and officials in California have resolved their conflict over safety procedures at the automaker’s only U.S. assembly plant with a deal that permits production to restart as early as Monday, county officials stated. The county said the automaker could take extra steps ahead of next week after CEO Elon Musk had pledged to […]
