Elon Musk

Musk Focuses On Model 3 Success In Tesla Earnings Call

Musk focuses on Model 3 success in Tesla earnings callSasha Lekach / Mashable - 5 months ago

Tesla Shows A Profit In ‘historic’ Quarterly Report

Tesla shows a profit in ‘historic’ quarterly reportAlan Boyle / GeekWire - 5 months ago
  • Tesla CEO presides over the handover of the first Model 3 cars in August 2017.
  • Tesla shares jumped more than 10 percent in after-hours trading today after the controversial electric-car company posted a surprisingly positive quarterly report, including a profit rather than a loss.
  • Adjusted net income for the third quarter amounted to $312 million, which translated into earnings of $2.90 a share.
  • That cash position could take some of the pressure off Tesla, which had been burning through its reserves by the billions during what CEO Elon Musk called “production hell” for the company’s Model 3 electric car.

Tesla Pulls Useless ‘Full Self-Driving’ Add-on From Its Cars

Tesla pulls useless ‘Full Self-Driving’ add-on from its cars(Deleted account) / Mashable - 5 months ago
  • Tesla buyers were paying thousands for Elon Musk's promise of a self-driving car feature, one they couldn't currently use.
  • On Thursday, Elon Musk unveiled a new “lower cost, mid-range” Tesla Model 3 car coming in at around $45,000.
  • According to Musk’s reply tweet, the option is still available for Tesla customers who’d like it, but the company won’t be advertising it as it “was causing too much confusion.”

Elon Musk Reveals First High-speed Boring Tunnel Under LA Will Open Soon (December 10)

Elon Musk reveals first high-speed Boring tunnel under LA will open soon (December 10)Anthony Cuthbertson / The Independent - 5 months ago
  • A two-mile tunnel capable of transporting people at up to 155 mph under the city of Los Angeles is set to open in December, billionaire entrepreneur Elon Musk has announced.
  • The tunnel is the first major project of The Boring Company, a startup born out of Mr Musk's frustration with LA traffic.
  • Responding to questions on Twitter on Sunday, Mr Musk revealed that the tunnel will open on 10 December, with free rides available for the public the following day.
  • When asked if this date represented "real time or Elon time" – referencing his notoriously over-ambitious schedules – he replied "I think real."

Tesla Introduces A $45,000 Model 3 Variant With A 260-mile Range

Tesla introduces a $45,000 Model 3 variant with a 260-mile range Ivan Mehta / The Next Web - 5 months ago
  • In a surprise announcement, Elon Musk launched a mid-range model of Tesla 3 with a range of 260 miles.
  • "Just released lower cost, mid-range Tesla Model 3 & super simple new order page https://t.co/cz0TQn7IOZ"— Elon Musk (@elonmusk) October 18, 2018
  • Tesla 3 model has been available for $49,000 with a long-range battery and no options for over a year.

Tesla Buys New Plot For Its First China Factory

Tesla buys new plot for its first China factory CNBC - 5 months ago
  • Shanghai Mayor Ying Yong and Tesla Chairman and CEO Elon Musk pose in from of a plaque for the Tesla (Shanghai) Ltd.
  • Tesla successfully acquired an 864,885-square meter plot in Shanghai's Lingang area for the electric car maker's new factory, according to an announcement from Lingang Wednesday afternoon.
  • Tesla expects the factory to produce its first cars in three years, according to an earnings release in August.
  • Funding will mostly come from local debt, and Tesla's own investment "will not start in any significant way until 2019," the company said in the August release.

Elon Musk Says New Tesla Autopilot Chip Will Be Ready In About 6 Months

Elon Musk says new Tesla Autopilot chip will be ready in about 6 monthsAndrew Krok / CNET - 5 months ago
  • A promised upgrade for Tesla's Autopilot semi-automated driving system should bring some big performance benefits to both new and old cars, and it shouldn't be too much longer before it's available.Elon Musk said on Twitter a major upgrade for Autopilot will be available within approximately six months.
  • In addition to offering the Autopilot upgrade in new cars built after its release, it will also be available as an upgrade for older cars sporting the latest versions of its Autopilot hardware (versions 2.0.
  • This is in addition to Tesla's version 9.0 software upgrade, which was recently pushed to Tesla vehicles via an over-the-air update.

Twitter Caught Promoting Bogus Elon Musk Cryptocurrency Scam

Twitter caught promoting bogus Elon Musk cryptocurrency scam David Canellis / The Next Web - 5 months ago
  • Those pesky Tesla-themed cryptocurrency scammers are back!
  • For roughly 24 hours, the scammers were using the (hopefully) compromised account of TV celebrity chef Tyler Florence to share malicious links to obviously fake Bitcoin giveaways.
  • Note the little ‘Promoted’ watermark underneath the tweet, submitted to Hard Fork by an anonymous source.
  • It means hackers paid Twitter to share the cryptocurrency scams with as many users as possible – the audacity!

Elon Musk Denies Being Replaced By James Murdoch As Tesla Chairman

Elon Musk denies being replaced by James Murdoch as Tesla chairmanJohnny Lieu / Mashable - 5 months ago
  • Elon Musk denied he'll be replaced by James Murdoch as Tesla's chairman, an alleged shakeup that was the subject of rumors on Wednesday.
  • Murdoch, who's due to end his stint as 21st Century Fox's CEO, was named in a Financial Times report as the lead candidate to succeed Musk, according to two sources who spoke with the newspaper.
  • The younger son of media mogul Rupert, Murdoch also serves as a director on Tesla's board, where he has done so since 2017.

Sorry Tesla Haters, The Model 3 Just Got A Perfect Safety Rating

Sorry Tesla haters, the Model 3 just got a perfect safety ratingSasha Lekach / Mashable - 5 months ago
  • The National Highway Traffic Safety Administration (NHTSA) recently tested the new Tesla Model 3 (yes, the same car that forced CEO Elon Musk to sleep at the Tesla factory).
  • Tesla, buried in endless problems like SEC lawsuits and terrible Elon Musk tweets, made sure to put the safety test results front and center Sunday.
  • In a blog post titled, "Model 3 achieves the lowest probability of injury of any vehicle ever tested by NHTSA," the company boasted that "not only has Model 3 achieved a perfect 5-star safety rating in every category and sub-category, but NHTSA’s tests also show that it has the lowest probability of injury of all cars the safety agency has ever tested."
  • The car company made sure to remind us that its Model S and Model X cars also scored well, "making Tesla vehicles the best ever rated by NHTSA."

Elon Musk’s SpaceX Rocket Lights Up California Sky

Elon Musk’s SpaceX rocket lights up California skyBBC Technology / BBC - 6 months ago
  • Elon Musk's SpaceX company has successfully launched a satellite into space from California - wowing social media users in the process.
  • Taking off at about 19:21 local time (02:21 GMT), the first stage of the rocket returned safely to the air base about eight minutes later. Californians posted videos and photos of the skies after the successful take-off, including Los Angeles mayor Eric Garcetti.

Tesla Share Price Falls After Musk Mocks SEC On Twitter And Judge Questions Settlement

Tesla share price falls after Musk mocks SEC on Twitter and judge questions settlementDuncan Riley / SiliconANGLE - 6 months ago
  • Musk (pictured), along with Tesla, agreed to pay $20 million each in a settlement with the SEC over a lawsuit that alleged that Musk violated anti-fraud provisions of federal securities laws when he posted on Twitter Aug.
  • That settlement included a provision that Tesla put in place additional controls and procedures to “oversee Musk’s communications,” implying Musk’s use of Twitter.
  • "Just want to that the Shortseller Enrichment Commission is doing incredible work." — Elon Musk (@elonmusk) October 4, 2018

Tesla Confirms That Model 3 Production Hit Its Ambitious Target Last Quarter

Tesla confirms that Model 3 production hit its ambitious target last quarterYoni Heisler / BGR - 6 months ago
  • Now that the drama between Elon Musk and the SEC is firmly behind us, it’s as good a time as any to focus on how Tesla’s production numbers have increased dramatically over the last few weeks.
  • Specifically, Tesla during the September quarter said that it manufactured 80,142 vehicles.
  • Delivery wise, Tesla during the September quarter delivered 83,500 vehicles to buyers.
  • No matter how you look at it, Tesla appears to have had a stellar quarter, Elon Musk’s peculiar antics on Twitter notwithstanding.

Federal Judge Rules Tesla Must Defend Itself Against Lawsuit Alleging It Mistreated Foreign Workers

Federal judge rules Tesla must defend itself against lawsuit alleging it mistreated foreign workersCatherine Shu / TechCrunch - 6 months ago
  • A federal judge denied Tesla’s motion to dismiss charges in a lawsuit claiming that it mistreated foreign workers.
  • The ruling comes just a few days after Elon Musk agreed to resign as Tesla’s chairman (while staying on as its CEO) to settle with the U.S.
  • In a ruling made on Monday, Judge Lucy Koh of California Northern District Court in San Jose dismissed five out of seven claims in the lawsuit, Lesnik v.
  • Other vehicle makers (Mercedes-Benz, Deere, REHAU, LaX, Volkswagen, Dicastal, and BMW) were also named as defendants, but dismissed because they aren’t included in the two claims that will go to trial.

Elon Musk Will Pay $20 Million To The SEC And Resign As Chair Of Tesla

Elon Musk Will Pay $20 Million To The SEC And Resign As Chair Of TeslaStephanie K. Baer / BuzzFeed - 6 months ago
  • Tesla CEO Elon Musk has agreed to pay a $20 million fine to the Securities and Exchange Commission and to relinquish his role as chair of the company’s board of directors as part of a settlement with the federal agency.
  • The agreement, filed in court Saturday, comes just two days after the SEC sued Musk for making “false and misleading statements” on Twitter about the possibility of taking Tesla, a publicly traded company, private.
  • The SEC has also imposed a $20 million fine on Tesla itself, which will be expected to appoint two new independent directors to the board, for “failing to have required disclosure controls and procedures relating to Musk’s tweets,” the agency said.
  • The tweets caused Tesla’s stock price to increase by more than 6%, according to the complaint.“Musk’s false and misleading public statements and omissions caused significant confusion and disruption in the market for Tesla’s stock and resulting harm to investors,” the SEC said in Thursday’s complaint.

Tesla Shares Rebound, Erasing Losses From SEC-Elon Musk Showdown

Tesla shares rebound, erasing losses from SEC-Elon Musk showdownKirsten Korosec / TechCrunch - 6 months ago
  • Tesla shares popped more than 17 percent on Monday, erasing losses from last week’s tussle between CEO Elon Musk and the U.S.
  • That “tussle” might have cost Musk $20 million (and Tesla another $20 million) and his chairman of the board seat.
  • Or maybe investors believe the SEC settlement won’t fundamentally change the company.
  • Even the late-night tweets (yup, there already was one at 1 a.m.

Tesla Shares Surge Over 15 Percent After SEC Settlement

Tesla shares surge over 15 percent after SEC settlement  CNBC - 6 months ago
  • Tesla shares were up over 15 percent in pre-market trade on Monday after Chief Executive Elon Musk settled charges with the Securities and Exchange Commission (SEC).
  • The SEC charged Tesla with fraud alleging CEO Elon Musk issued "false and misleading" statements and failed to properly notify regulators of material company events.
  • But on Saturday, Musk settled the charges with the SEC, agreeing to pay a civil penalty of $20 million and give up his role as chairman of the board for at least three years.
  • Under the deal's terms, Musk and Tesla neither admit or deny wrongdoing alleged by regulators.

Elon Musk Tells Tesla To ‘ignore Distractions,’ Hints At Profitability

Elon Musk tells Tesla to ‘ignore distractions,’ hints at profitability CNBC - 6 months ago
  • Elon Musk believes Tesla is "very close" to turning a profit after years of burning through cash, but warned that Sunday would prove pivotal to the car marker achieving an "epic victory" on its production goals.
  • On the heels of a turbulent last few weeks that culminated in Tesla reaching a settlement with securities regulators, the company is expected to report third quarter production numbers this week.
  • In two emails obtained by CNBC, Musk exhorted staffers to "ignore the distractions" and that the company was close to "proving naysayers wrong."
  • A report in Electrek suggested Tesla has already met an ambitious benchmark for its Model 3, after setting a production record in the second quarter.

Tesla Is Outgrowing Elon Musk

Tesla is outgrowing Elon MuskTimothy B. Lee / Ars Technica - 6 months ago
  • Enlarge / Elon Musk in 2004, the year he became chairman of the board at a tiny electric car startup called Tesla.
  • Tesla's battle with the Securities and Exchange Commission could be the company's biggest crisis in almost a decade.
  • On Thursday, after Musk rejected a proposed settlement, the agency sued Musk, seeking fines, an injunction against future misbehavior, and an order barring Musk from being an officer or director of Tesla.
  • The lawsuit puts into sharp relief a question that has been looming over Tesla in recent months: is Musk still the best choice to lead Tesla?

Elon Musk Has To Pay $20 Million To Settle With The S.E.C.

Elon Musk has to pay $20 million to settle with the S.E.C.Alexis Nedd / Mashable - 6 months ago
  • The SEC doesn't think your jokes are very funny, Elon.Image: Getty Images for SXSWBy Alexis Nedd2018-09-29 22:23:30 UTC
  • Elon Musk's ill-advised weed humor is going to cost him $20 million dollars and his chairmanship of Tesla, in accordance with a settlement agreement Musk and Tesla made with the the U.S.
  • The fraud in this case is the initial content of Musk's tweet, in which he announced that he would take Tesla private when the stock hit $420 and that he had "funding secured" to make that move.