Elon Musk's defamation trial could be in the hands of jury by the end of Thursday after the billionaire and the diver who is suing him sparred over the meaning and impact of a "pedo guy" tweet at the heart of the case. British cave explorer Vernon Unsworth testified on Wednesday he felt "branded a pedophile" despite Musk's assertion that his "pedo guy" tweet was not meant to be taken literally. Unsworth's appearance in a packed federal courtroom in Los Angeles came hours after Musk, the chief
SEOUL/WASHINGTON (Reuters) - South Korea's LG Chem said on Thursday it would invest $916 million in its U.S. subsidiary by 2023 to set up an electric vehicle battery joint venture with General Motors . An LG Chem spokesman confirmed an earlier Reuters report on the joint venture, but declined to give details. One source familiar with the matter told Reuters earlier that the facility, expected to be located in the Lordstown area of Ohio, would see investment of more than $2 bi
Elon Musk, wrapping up two days of testimony at his defamation trial on Wednesday, insisted his "pedo guy" Twitter message at the heart of the case was an "off-the-cuff" insult hurriedly written in anger and not meant to be taken literally. The chief executive of electric carmaker Tesla Inc and founder of rocket company SpaceX also acknowledged in a packed Los Angeles federal courtroom his net worth, mostly from stock holdings in those two companies, was about $20 billion (£15.59 billion). Mus
British exotic sports car maker McLaren Automotive will bank on expanded sales in Asia and a new generation of hybrid cars as it steers toward a potential public offering, the company's chief executive said on Tuesday. "We need to put more cars into Asia," McLaren CEO Mike Flewitt said in a meeting with reporters in Detroit. Sales of McLaren's carbon fibre and aluminium sports cars, which start at about $200,000 in the United States, have fallen in the United Kingdom, its largest market.
Hyundai Motor plans to invest about 61.1 trillion won ($51.81 billion) between 2020 and 2025, the company said on Wednesday, with a third of the expenditure focused on electric and autonomous vehicles, but analysts want to see it deliver. Shares in Hyundai rose as much as 2% on the news, only to give up most of their gains by the close of trade, with analysts waiting to see how its intentions translate into action. "Its announcement of investment plan and goals is full of good words, but not r
High-tech entrepreneur Elon Musk took the witness stand at his defamation trial on Tuesday, testifying that his inflammatory Twitter message at the center of the case was sent in response to an "unprovoked" insult he received from the man now suing him. Musk, the billionaire chief executive of electric carmaker Tesla Inc , was the first witness to testify in the lawsuit brought by a British cave diver who gained fame for his leading role in the rescue of 12 boys and their soccer coach f
CNH Industrial's truck unit Iveco on Tuesday unveiled its first electric vehicle, the Nikola Tre, built in partnership with U.S. startup Nikola Motor Co.. The heavy truck will be built for the European market under a deal announced by the two groups in September and is expected to give a boost to Iveco, which as the smallest of Europe's traditional truck makers competes with the might of Volkswagen , Daimler and Volvo Group. "Just three months after we signed our partnership we have
Elon Musk is going on trial Tuesday for his troublesome tweets in a defamation case pitting the billionaire against a British diver he allegedly branded a pedophile. The Tesla CEO will be called to testify early in the case in Los Angeles federal court to explain what he meant when he called Vernon Unsworth, who helped rescue youth soccer players trapped underwater in a Thailand cave, “pedo guy” in a Twitter spat more than year ago. Musk later apologized for lashing out at Unsworth on Twitter
Last year at AWS re:invent, the company's massive customer conference, Amazon launched a new miniature race car and a racing league, all designed to teach developers about machine learning in a fun way. "We are adding more chances to compete at AWS events and at your own events, more chances to win with new races, including head-to-head multi-car competitions, and an upgraded DeepRacer car with new sensing capabilities," AWS's Jeff Barr wrote in the company blog announcing the updates.
In 2018, South Korea's SK Innovation beat its larger, local rival LG Chem to a multibillion dollar deal to supply German carmaker Volkswagen with electric vehicle batteries in the United States. With great fanfare, SK Innovation (SKI) broke ground in March on a $1.7 billion (£1.3 billion) factory in Commerce, Georgia, about 200 km from VW's Chattanooga plant, which will be the automaker's electric vehicle hub in the United States. LG Chem (LGC) had other ideas.