Tesla Inc's chief executive, Elon Musk, will testify in his own defense against a defamation lawsuit brought by a British cave explorer, Musk's lawyer said on Monday in U.S. District Court in Los Angeles. Vernon Unsworth is suing Musk for calling him a "pedo guy." Musk posted the tweet after Unsworth accused Musk in a CNN interview of grandstanding by offering to help Unsworth's diving team rescue 12 boys and their soccer coach from a Thailand cave in July 2018.

Audi on Tuesday announced a major restructuring scheme, slashing around 9,500 jobs until 2025 in an effort to adopt production to the e-mobility era and achieve billion-euro cost savings. "The resulting savings of around 6 billion euros will secure the strategic operating profit margin corridor of 9 to 11% and will be invested in projects of the future such as electrification and digitalisation," the company said in a statement. Audi said that the cost savings would be achieved by 2029.

Tesla CEO Elon Musk and his spacy Cybertruck have ignited a frenzy over electric pickups, and at least seven other U.S. automakers expect to build new battery-powered trucks by 2021. Companies ranging from General Motors Co to startup Lordstown Motors Corp have said they plan to introduce electric pickups over the next two years, and are scheduled to build up to 250,000 a year by 2024, according to industry analysts. If demand falls that far short of production targets, "there are going to be

London’s transit authority on Monday refused to renew Uber’s license to operate, with the ride-hailing company vowing to appeal the decision as it struggles to secure its future in the British capital. It’s the latest chapter in Uber’s rocky history with London transport officials, who have subjected the San Francisco-based tech company to ever tighter scrutiny over concerns about passenger safety and security. Transport for London cited “several breaches that placed passengers and their safety

Tesla opened preorders immediately, however, and allowed potential buyers to book the truck by depositing just $100, compared to the $1,000 Tesla charged for booking Model 3 sedans in 2016, drawing the flood of reservations and sending the company's shares back up on Monday. From touting the features of the new vehicle to taking a dig at Ford rival F-150 pickup truck, Musk has been tweeting furiously to boost sales since Thursday's launch. The billionaire has long been using his 30 milli

BEIJING/FRANKFURT (Reuters) - Daimler's main Chinese joint venture partner BAIC Group [BEJINS.UL] has signalled its intention to increase its stake in the German luxury car manufacturer, sources briefed on the matter said, after it built up a 5% Daimler stake in July. Officials at BAIC's listed company BAIC Motor Corp Ltd said at investor conferences in mid-October that "both sides are willing to increase stakes in the other", responding to questions about future relationsh

When Deb Fink heard about a company that could drive her 9-year-old son to his after-school program, she balked at the idea of putting him in a car with a stranger. Now she is sold, and grateful for the handful of ride-hailing companies that have emerged at a time when children are expected to accomplish a dizzying array of extracurricular activities and the boundaries between work and home have blurred. Among them are HopSkipDrive, Kango and Zum, hatched as startups primarily led by working m

"146k Cybertruck orders so far, with 42% choosing dual, 41% tri & 17% single motor", Musk said in a tweet, adding separately that the orders were achieved without any advertising or paid endorsements. At the launch, Musk had taken aim at the design, power and durability of mainstream trucks, only to be shaken when the windows of Tesla's new vehicle shattered while being tested. With a starting price of $39,900, the Cybertruck's angular body in gun-metal grey resembles an armoured vehicle.