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 Inc
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 […]
Elon Musk owes $507 million to banks helping Tesla raise capital
Tesla Inc CEO Elon Musk personally owes $507 million to Wall Street banks involved in Tesla’s stock and debt sale, supported by his stake in the electric car maker, a company filing revealed on Thursday. The lending was revealed in Tesla’s prospectus on Thursday to raise up to $2.3 billion with new shares and convertible […]
Tesla increases capital raise to $2.7 billion, Musk purchases more stock
Tesla Inc on Friday was set to boost up to $2.7 billion in a record-setting capital raising for the electric automaker, as investors scooped up a mix of new stock and convertible notes that are going to recharge the company’s cash-depleted balance sheet. The company stated in a filing that it had boosted its offer […]
Tesla junk bond spreads broaden to a record after a big loss
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 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 […]
