Tesla began delivering on a dream to make an electric car for the masses, rolling out the first of its keenly-awaited “Model 3” cars, aiming to disrupt a world accustomed to automobiles powered by pollution-spewing fossil fuel. An initial batch of the ‘Model 3’ cars that rolled out of the Tesla plant in Fremont, California … Read more
Elon Musk’s Tesla will build what the maverick entrepreneur claims is the world’s largest lithium ion battery within 100 days, making good on a Twitter promise to ease South Australia’s energy woes. The region was hit with a total blackout when an “unprecedented” storm wrecked power transmission towers in 2016, and billionaire Musk in March … Read more
General Motors regained its spot as the biggest US carmaker by market capitalization Thursday, amid greater investor skepticism that chipped away at rival Tesla Motors. Near 1845 GMT, GM had a market capitalization of $52.6 billion, about $1.9 billion more than the electric car maker, which had overtaken GM in April. GM shares dipped 0.6 … Read more
Tesla said Thursday it was considering the possibility of manufacturing in China as it ramps up for expansion of its line of electric-powered cars. The California company founded by entrepreneur Elon Musk said in an email it was in talks with the Shanghai Municipal Government “to explore the possibility of establishing a manufacturing facility in … Read more
The driver killed in the 2016 crash of a Tesla Model S took his hands off the wheel while using autopilot despite repeated warnings not to do so, government investigators have found. The National Transportation Safety Board said the driver had been using the semi-autonomous driver assistance system for extended periods when his car crashed … Read more
When General Motors CEO Mary Barra introduced the Chevrolet Bolt at the CES gadget show last year, she took a shot at Tesla. Buyers can be confident because Chevy has 3,000 U. S. dealers to service the new electric vehicle, she said. The implication was that Tesla, with just 69 service centers nationwide, can make … Read more
The rate of serious injuries at a Tesla factory in California is double the industry average, a worker advocacy group said Wednesday in a report calling for better workplace protections. The study by Worksafe, a California nonprofit group, used Tesla’s own internal data to show injury rates at the company’s plant in Fremont, California. Total … Read more
Cash-strapped Chinese tech firm LeEco on Wednesday confirmed that it is throttling back plans to invade the US market, cutting 325 jobs months after announcing a major expansion. The layoffs were reported represent about 70 percent of the company’s US staff. “The challenges with raising new capital have made it difficult in the past few … Read more
Ford plans to fire CEO Mark Fields amid slowing sales in the US and Chinese markets, a source familiar with the matter said Monday. The US auto maker is expected to name Jim Hackett, who is currently responsible for the autonomous vehicle division, to replace Fields as part of a major management reshuffle, the New … Read more
Tesla has issued a voluntary global recall for some of its Model S and Model X cars to fix a problem with the parking brake. The electric car maker said about 2% of the 53,000 vehicles built from February to October 2016 were affected, but all of those cars are being recalled. The company added … Read more
Tesla is recalling 53,000 cars to address a manufacturing defect that could prevent the parking brake from moving. The carmaker noted this is a ‘voluntary’ decision after it had determined that Model S and X models manufactured between February and October of last year ‘may contain a small gear that could have been manufactured improperly … Read more
Tesla Motors overtook top US automaker General Motors in market capitalization Monday following an upbeat report by an investment analyst citing the electric carmaker’s “captivating” ability to stir investor and consumer enthusiasm. Near 1430 GMT, Tesla shares were up 3.1 percent at $311.93 for a market capitalization of $51.53 billion, more than $1 billion above … Read more
Tesla has become the second-largest US car maker in terms of market capitalization, displacing Ford, whose sales lagged amid concerns about the ability of the US market to keep growing. Many major auto makers reported US sales declines in March compared to a year ago, but Tesla over the weekend said it saw a huge … Read more
The electric car maker said that was a 70% rise on the same period of 2016. In a record quarter, Tesla delivered just over 25,000 cars in the first three months of the year. The electric car maker said that was a 70% rise on the same period of 2016. It is a rebound for … Read more
Tesla sold more than 25,000 vehicles in the first quarter, a record that beat analysts’ forecasts, the electric carmaker said on Sunday. The Palo Alto, California-based carmaker saw deliveries bounce back by 69 percent compared to a rough first quarter in 2016. Tesla produced 25,418 vehicles, a bit above its prior record in the third … Read more
Chinese tech giant Tencent has spent $1.78bn (£1.4bn) on buying a 5% stake in electric carmaker Tesla. Tencent, best known for its WeChat mobile app, has been investing in a number of sectors, including gaming, entertainment, cloud computing and online financing. Tesla said the stake was passive, meaning Tencent would not get a say in … Read more
China’s giant Tencent Holdings has taken a five percent stake in the Tesla electric car company as it moves to ramp up production, according to an official filing Tuesday. Tencent paid about $1.8 billion for the small share of Elon Musk’s company, according to the document filed with the US Securities and Exchange Commission (SEC). … Read more
Tesla on Wednesday announced plans to raise $1.15 billion in new funding to help fuel production of a mass market-targeted Model 3 electric car set for release this year. Tesla said that it planned to offer $250 million in common stock and $750 million in convertible notes, with underwriters being given the option to buy … Read more
Elon Musk, boss of electric car firm Tesla, says he can help solve South Australia’s power crisis within 100 days – and if not he’ll do it for free. The offer follows a series of blackouts in the state. On Thursday, Tesla executive Lyndon Rive had said the company could install 100-300 megawatt hours of … Read more
Tesla reported on Wednesday that it slipped back into the red in the recently ended quarter while revenue revved, with orders for some of electric car models hitting record highs. The company forecast that demand for its cars would show strong growth in the first half of this year, and shares rose more than 1.5 … Read more