Volkswagen not seeking a deal with Tesla, says CEO Herbert Diess

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Volkswagen’s CEO Herbert Diess on Monday sought to quell speculation that the world’s largest automaker, which is on its way to push for mass production of electric cars, has plans to develop deeper ties with start-up rival Tesla Inc. Diess met with Tesla’s CEO Elon Musk in Braunschweig, Germany, last week, and during his visit […]

Elon Musk becomes third richest person, by surpassing Zuckerberg after Tesla stock split

Elon Musk

Tesla Inc CEO Elon Musk has become the third-richest person in the world after surpassing Facebook Inc co-founder Mark Zuckerberg on Monday as shares of Tesla continued their unrelenting rally after going through a forward stock split. Musk is now worth $115.4 billion compared with $110.8 billion for Zuckerberg, the Bloomberg Billionaires Index noted. Similarly, […]

Volkswagen CEO praises Musk’s SpaceX success to motivate top executives

Elon Musk

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 […]

Tesla’s ventilators attract controversy after hospitals say they are not ventilators

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Contrary to Tesla CEO and Founder Elon Musk’s claim the company had delivered more than 1,000 ventilators to hospitals in California to help treat COVID-19 coronavirus patients, some of these facilities informed that what they received were not really the highly sought-after machines. Musk showed a list of hospitals to which the company sent the “ventilators”. But four of the […]

U.S. turns down Tesla bid for tariff exemption for Autopilot ‘brain’

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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 […]

Tesla sets up Shanghai financial leasing company as China plans accelerate

People visit a Tesla Model S car during the Auto China 2016 in Beijing, China, April 25, 2016. REUTERS/Jason Lee/File Photo

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 […]