U.S. electric automaker Tesla prepares to open a design and research center in China to make “Chinese-style” vehicles, the company stated in a recruitment notice on its official WeChat account. Wednesday’s notice sought to recruit designers and other workers to help meet the goal, and called for applications by February 1, but did not mention […]
Tesla Inc
Tesla secures $1.29 billion loans from Chinese banks for Shanghai plant
Tesla Inc has entered into agreements with lenders in China for a secured term loan facility of about 9 billion yuan ($1.29 billion), as per a regulatory filing on Thursday. The electric automaker stated it has signed agreements for an unsecured revolving loan facility as well of up to 2.25 billion yuan ($322 million), adding […]
Tesla to take new $1.4 billion loan from Chinese banks for Shanghai factory
Tesla Inc and a group of China banks have accepted a new 10 billion yuan ($1.4 billion), five-year loan facility for the automaker’s Shanghai auto plant, three sources knowledgeable with the matter stated, part of which will be used to roll over a present loan. China Construction Bank (CCB), Agricultural Bank of China (AgBank), Industrial […]
Tesla to charge $10 per month for ‘Premium’ in-car data
Tesla wasn’t completely accurate when it stated it would begin charging for some in-car data on July 1st of 2018, but it seems like the owners have finally been asked to payout. Tesla is notifying customers who ordered on or after July 1, 2018, that it’s switching them to 30-day trials of Premium Connectivity and that they will need to […]
Tesla’s Chinese-built Model 3 cars would receive state subsidies
Tesla Inc stated on Friday that its Chinese-built Model 3 cars would get state subsidies, a move that will significantly help the electric automaker’s push into the world’s biggest auto market. China’s industry ministry had previously stated Tesla’s Model 3 cars, being constructed at its $2 billion factory located in Shanghai, were on a list […]
Tesla has 200,000 orders for Cybertruck, says Musk
Tesla Inc CEO Elon Musk suggested in a tweet that the electric automaker received 200,000 orders for its electric pickup truck under three days of its introduction. Musk, who has been frequently tweeting about the Cybertruck’s features since its introduction on Thursday, has also been updating his followers with the number of orders the company […]
Volkswagen has no plans to cooperate with Tesla
Volkswagen CEO Herbert Diess on Friday stated the German automaker has no strategy to cooperate with American electric automaker Tesla. During the interview in Wolfsburg, Germany, Diess stated that Tesla should be admired for how swiftly they innovate and sets the benchmark in some areas of technology.
Elon Musk back on Twitter, days after quitting
Elon Musk has not quit Twitter after all. Just three days after Musk announced that he was going offline, Tesla Inc’s CEO went back on Tuesday with some tweets about promoting a successful test by his rocket company, SpaceX. “Great work by SpaceX Dragon team & Airborne! To be clear, we’ve only done 1 multi-parachute […]
Tesla settles lawsuit with Walmart over solar panel installations, fires
Walmart Inc has settled its lawsuit alleging Tesla Inc of negligence in installing solar panels atop hundreds of the retailer’s stores and resulting in at least seven fires. In a joint statement on Tuesday, both companies stated were “pleased to have resolved the issues raised by Walmart” regarding the installations, and looked forward to “a […]
Tesla filing shows U.S. sales dropped 39% in third quarter
Tesla Inc’s third-quarter revenue dropped 39% in the United States, its first drop in over two years, but sales in China and other places surged, the electric automaker’s break down of sales by geography revealed on Tuesday. U.S. sales, which account for the biggest share of the company’s total earnings, dropped to $3.13 billion from […]
Ex Ford and Tesla officials join German electric van maker
The German electric van maker StreetScooter has recruited executives from Tesla and Ford to assist drive its worldwide expansion. Peter Bardenfleth-Hansen, who worked in Tesla’s first European Tesla team, and Ulrich Stuhec, has joined the Streetscooter, the company stated in a news release. Streetscooter is a subsidiary of the German company Deutsche Post. Bardenfleth-Hansen is going […]
Most new vehicles to get over-the-air upgrade tech by 2023, says General Motors
General Motors stated on Monday that majority of its global models will be capable of over-the-air software upgrades by 2023, as GM presents new vehicle electrical systems aimed to securely handle heavy data traffic and software downloads from the internet. General Motors and other established auto companies have been not that quick to catch up […]
CEO Musk to evaluate all of Tesla’s expenses in new cost cutting plan
Tesla Inc Chief Executive Officer Elon Musk informed workers on Thursday that he will boost scrutiny of the company’s expenses in his recent initiative to slash costs at the electric automaker. Tesla earlier this month shut down at a $2.7 billion offering of stock and convertible notes, providing it much needed cash as it increases […]
Tesla to upgrade battery software after car fires
Car fire in Hong Kong being the most recent. Tesla Inc is set to update its battery software following two recent fires involving it’s Model S electric vehicles in Shanghai and Hong Kong, the American electric automaker stated on Thursday, adding that investigations into the incidents are continued. “As we keep investigating, out of an […]
U.S. turns down Tesla bid for tariff exemption for Autopilot ‘brain’
U.S. trade officials turned down Tesla Inc’s bid for relief from President Donald Trump’s 25-percent tariffs on the Chinese-made Autopilot “brain” of its Model 3 among other electric automobiles, one of over 1,000 product denials associated with China’s industrial development plans. According to documents submitted by the U.S. Trade Representative’s office (USTR) and seen by […]
