Proxy adviser Institutional Shareholder Services Inc (ISS) has urged Tesla Inc shareholders to vote against the re-election of chairwoman Robyn Denholm at the electric automaker’s annual meeting next month. The firm expressed concerns regarding Denholm’s leadership, mentioning consecutive years of high compensation for directors, without a reasonable rationale, and a steep increase in share pledging […]
Tesla Inc
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 […]
Dispute over resuming Tesla’s California factory may be ending
It seems that the dispute between Tesla and San Francisco Bay Area officials over the restarting of a factory in the face of shutdown orders is close to an end. The Alameda County Public Health Department wrote on Twitter early Wednesday that the Fremont, California, plant will be able to go beyond general operations this […]
Elon Musk says ready for arrest as the plant reopens in California
Tesla Chief Executive Elon Musk on Monday stated production was restarting at the automaker’s only U.S. vehicle factory, in California, defying an order to stay closed and adding that if anyone had to be arrested it should be him. The move comes as states and cities around the country find ways to safely resume their […]
Tesla secures $565 million loan for Shanghai factory
Electric automaker Tesla Inc has reached an agreement for a working capital loan of up to 4 billion yuan ($565.51 million) with a lender from China for its Shanghai auto plant, a regulatory filing showed on Friday. The loan, which will be given by Industrial and Commercial Bank of China Limited, will be used only for expenses related […]
Tesla to furlough workers, cut salaries due to coronavirus
Tesla Inc informed employees on Tuesday it would furlough all non-essential employees and implement salary cuts during a shut down of its U.S. production plants because of the coronavirus outbreak. Tesla stated it prepared to resume normal operations on May 4, blocking any significant changes, according to an email sent to U.S. workers by in-house counsel […]
Ford, GM, Tesla can go ahead with making ventilators, says Trump
U.S. President Donald Trump stated on Sunday that American automakers such as Ford Motor, General Motors and Tesla Inc have been given the green light in making ventilators and other objects required during the coronavirus crisis. “Ford, General Motors and Tesla are being given the go ahead to make ventilators and other metal products, FAST! […]
Panasonic to suspend production at Tesla joint venture due to coronavirus
Panasonic stated on Saturday it will temporarily stop production at its battery joint venture with U.S. electric automaker Tesla Inc in Nevada due to the coronavirus outbreak. The Japanese electronics company, which provides battery cells for Tesla’s electric vehicles, will reduce operations at so-called Gigafactory 1 early next week before shutting down for 14 days, […]
Tesla states it plans to open China design and research center
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 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.
