Tag: automotive
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Tesla is raising up to $1.5 billion through convertible note and share sale
Tesla is raising up to $1.55 billion through the sale of notes and stocks, according to a filing made by the EV maker today. The document outlines that Tesla will sell up to $1.35 billion in convertible senior notes. The number could increase further: Tesla is giving underwriters the chance to buy a further $202.5…
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Tesla sued in wrongful death lawsuit that alleges Autopilot caused crash
The family of Walter Huang, an Apple engineer who died after his Tesla Model X with Autopilot engaged crashed into a highway median, is suing Tesla. The State of California Department of Transportation is also named in the lawsuit. The wrongful death lawsuit, filed in California Superior Court, County of Santa Clara, alleges that mistakes…
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Tesla to open up Model 3 orders in UK
Tesla is poised to open up orders for the Model 3 in several right-hand drive markets, beginning with the UK by early May, according to a tweet from CEO Elon Musk. The Model 3 order page will go live May 1 or 2 in the UK, followed by Japan, Australia, New Zealand and Hong Kong.…
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Tesla plans to launch an insurance product ‘in about a month’
Tesla is developing an insurance product, which could be launched in about a month, CEO Elon Musk said during a call with analysts Wednesday after its first-quarter earnings report. “It will be much more compelling than anything else on the market,” he said. Musk didn’t provide further details on what the insurance product may look…
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Elon Musk on taking Tesla private: ‘That ship has sailed’
Elon Musk would prefer if Tesla, which is famous for its volatile share price and is one of the most heavily shorted stock, were a private firm, but acknowledged during an earnings call Wednesday that it wasn’t likely. Musk can dream, can’t he? “Unfortunately that ship had sailed,” Musk said in response to a query…
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Tesla reports $702 million loss in first quarter
Tesla reported Wednesday wider-than-expected loss of $702 million, or $4.10 a share, in the first quarter after disappointing delivery numbers, costs and pricing adjustments to its vehicles threw the automaker off of its profitability track. The loss included $188 million of non-recurring charges. When adjusted for one-time losses, Tesla lost $494 million, or $2.90 a…
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Judge to SEC and Elon Musk: Put your ‘reasonableness pants on and work this out’
Tesla, Elon Musk and the U.S. Securities and Exchange Commission have two weeks to work out their differences and come to a new resolution, a U.S. judge said Thursday at the conclusion of a hearing held to determine whether the automaker’s CEO should be held in contempt for his Twitter use. The SEC had asked…
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Tesla’s customer referral program is back weeks after it was killed off
Tesla killed off its customer referral program way back on Feb. 1, 2019 since the popular program was getting too costly to maintain. Now, however, less than two weeks later, Tesla is bringing it back with new incentives aimed at rewarding its customers, and bringing in new ones. Tesla’s customer referral program had offered a…
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Tesla sues former employees, Zoox for alleged trade secret theft
Tesla has filed a pair of lawsuits against a handful of former employees who went to work at self-driving vehicle startup Zoox and Chinese EV automaker Xiaopeng. The separate lawsuits filed Wednesday allege former Tesla employees stole trade secrets and used them at their new places of employment. Tesla declined to comment on each lawsuit.…
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3D Printing the Automotive Industry: Series Intro
Chicago Auto Show 2019 This series will be about 3D printing in cars. Additive manufacturing and the automobile industry go hand in hand. In this series, we’ll outline what we should know about this business as well as its connection to 3D printing. We’ll try to check into specific car companies and find out how…