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 Inc
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 […]
Tesla’s self-driving tech is ‘vastly ahead of everyone’, says Musk
Elon Musk thinks that Tesla is “vastly ahead of everyone.” Tesla CEO Elon Musk recently appeared on Lex Friedman’s Artificial Intelligence Podcast, where Musk spoke that how much longer people will be required to keep their hands on the wheel (“At least six months from here”) to what question would you ask of a very […]
Tesla supplier agrees to purchase GM’s South Korean plant
A South Korean supplier of Tesla Inc stated on Friday it had agreed to purchase a shuttered auto factory from General Motors’ local unit to start contract manufacturing of electric vehicles. The deal comes after GM shut down one of its four South Korean plants in late May and let go thousands of employees, as […]
China officials accept a solution to Tesla customs issue
China’s customs officials have accepted electric automaker Tesla Inc’s plan to remedy concerns with the clearance of imported cars, a source knowledgeable with the matter informed Reuters. Tesla shares dropped over 5 percent after financial publication Caixin reported previously that China had suspended customs clearance for the automaker’s Model 3 sedans, mentioning various irregularities including […]
Tesla’s top lawyer leaves two months into the job
Tesla Inc stated on Wednesday its general counsel Dane Butswinkas is departing from the electric automaker just two months into the job, the recent in a string of top-level departures at the company. Butswinkas, who joined Tesla in December and was reporting to Chief Executive Officer Elon Musk, will be back to his previous role […]
T. Rowe Price reduces stake in Tesla to 5.2 percent
Tesla Inc shareholder T. Rowe Price Group Inc had a 5.2 percent stake in the electric car maker as of end-December, approximately half its earlier stake, a regulatory filing on sec.gov revealed on Monday. As of September, the company had a 10.12 percent stake in Tesla. Shares of Tesla increased 3 percent at $315.16 during […]
Tesla to purchase Maxwell Technologies for $218 million
Tesla Inc has agreed to purchase energy storage company Maxwell Technologies Inc for $218 million in an all-stock deal that could assist the automaker produce batteries that hold more energy and last longer at a time when it has to cut expenses and faces increasing competition. Tesla is quickly boosting production of its Model 3 […]
Tesla holds battery supply talks Tianjin Lishen
U.S. automaker Tesla Inc has held conversations with China’s Tianjin Lishen to supply batteries for its new Shanghai factory, and two people with direct understanding of the matter stated the companies signed a preliminary agreement. The companies have yet to decide how large an order Tesla would place, and Lishen is still working out what […]
Tesla sets up Shanghai financial leasing company as China plans accelerate
Tesla Inc has registered a financial leasing company in China, a regional business registration filing shows, in the recent sign the U.S. electric automaker is trying to speed up its push into China. The California-based automaker, led by CEO Elon Musk, has started a wholly-owned financial leasing unit in Shanghai’s free trade zone with registered […]
Nio’s U.S. head Padmasree Warrior to leave the company
The U.S. head of Nio Inc, an electric automaker viewed as one of the major Chinese rivals to Tesla Inc, will depart from the company, the firm stated in a filing on Friday, the first major management departure since its September IPO. Padmasree Warrior, CEO of NIO USA and global chief development officer, is going […]
Volkswagen considering new North America factory for electric vehicles
Volkswagen is deciding where to establish a new factory in North America for making electric vehicles for the U.S. market, the German automaker’s new head for the Americas stated on Wednesday. Scott Keogh, the recently appointed CEO of Volkswagen Group of America, stated a new plant was required to build a vehicle yet to be […]
Tesla sales in China fall 70 percent in October
Tesla Inc’s vehicle sales in China fell 70 percent last month from a year earlier, the country’s passenger car association informed Reuters on Tuesday, underscoring how the Sino-U.S. trade war is harming the U.S. electric automaker. An official from China Passenger Car Association stated data from the industry body revealed Tesla sold just 211 cars […]
