Tesla Model 3 News
For months, Tesla Chief Executive Elon Musk has been teasing investors, and rivals, with promises to reveal significant advances in battery technology during a "Battery Day" in late May. New, low-cost batteries designed to last for a million miles of use and enable electric Teslas to sell profitably for the same price or less than a gasoline vehicle are just part of Musk's agenda, people familiar with the plans told Reuters.
The county said the automaker could take additional steps ahead of next week after Chief Executive Elon Musk had vowed to defy authorities, saying Monday he was resuming production despite the prohibition. On Tuesday, he also won the backing of President Donald Trump. In a tweet, Alameda County said that following talks with Tesla it agreed that the electric carmaker can take steps "in preparation for possible reopening as soon as next week."
Musk has been pushing to re-open Tesla's Fremont, California, factory after Alameda County's health department said the carmaker must not reopen because local lockdown measures to curb the spread of the coronavirus remain in effect. In a blog post on Saturday, Tesla said the county's position left it no choice but to take legal action to ensure Tesla and its employees can go back to work.
The collapse in car sales puts more pressure on the UK economy, which is on course for an unprecedented quarterly contraction of at least 7%, a survey showed on Tuesday, as the coronavirus crimps activity. Lockdown measures have been in place across Europe since mid-March to contain the pandemic, shutting many companies and limiting people's movements, with Prime Minister Boris Johnson expected to detail this week how measures will be slowly eased. Sales to businesses in April accounted for fo
U.S. electric vehicle maker Tesla Inc said in Friday it has cut the starting price for China-made Model 3 sedans by 10% to qualify for subsidies in the world's biggest auto market. Tesla, which started delivering cars from its $2 billion Shanghai car plant in December, said in a statement it has cut the starting price for its Standard Range Plus Model 3 sedans to 271,550 yuan ($38,463.17), after receiving 20,250 yuan per car as EV subsidies. China had announced plans in 2015 to end su
U.S. District Judge Edward Chen ruled on Wednesday that shareholders could try to prove Musk intended to defraud them with his Aug. 7, 2018 tweet and follow-up messages about plans for his Palo Alto, California-based company. The judge said shareholders could also try to prove Musk's tweet was the "proximate cause" of volatility in Tesla's stock price that caused billions of dollars of losses. Tesla did not immediately respond to requests for comment.
Tesla’s Model 3 has shipped from the start with a camera pointing at the cabin, but it has gone unused ever since. Elon Musk has confirmed that the camera is there to support Tesla’s eventual robo-taxi plans. Since you won’t be in the car yourself when it’s picking up rides, the camera will provide video evidence if passengers trash the interior.
Tesla priced its second offering of stock at $767 apiece Friday. An announcement Thursday that Tesla would put an additional $2 billion worth of stock on the market surprised almost everyone. Just two weeks ago, CEO Elon Musk said the company had enough cash to fund its capital programs and that it didn't need to raise any more money.
Tesla's stock tumbled 17% on Wednesday, hitting the brakes on a dramatic rally as a senior executive said the coronavirus outbreak in China would delay deliveries of its Model 3 cars and analysts warned of its high valuation. With Tesla still up more than 25% since the company posted its second consecutive quarterly profit a week ago, Canaccord Genuity cut its rating on Tesla to "hold" from "buy," further shrinking the already small number of analysts who recommend buying the stock. T
"Giga Texas?" Musk tweeted, giving two options - "hell yeah" and "nope." The poll garnered over 102,000 responses as of 11:15 p.m. PT Tuesday, with about 80% voting in favor of the new gigafactory. Tesla currently has two gigafactories in the U.S. and one in Shanghai, China. During an earnings conference call last week, Musk said that Tesla needs to increase its battery capacity to produce high-capacity models like Cybertruck.