Tag: Elon Musk

By on September 17, 2019

After Porsche’s Taycan secured its status as the fastest electric production vehicle ever to grace the Nürburgring, Tesla Motors was keen to steal the title. This evolving rivalry also resulted in Elon Musk tossing some light shade at the German manufacturer over its liberal use of the word “turbo.” What followed were some sedan-based lap records set by the American company at Laguna Seca, which was little more than a distraction from the main event while Tesla got its ducks in a row.

In Nürburg, Porsche’s Taycan Turbo S set the highly impressive time of 7 minutes and 42 seconds in August. The following month, Tesla starting running the Model S. This week, reports coming in from Germany claim the American manufacturer set an unofficial time of 7 minutes and 23 seconds. But there are issues with Tesla’s record-breaking run.  (Read More…)

By on September 16, 2019

Elon Musk + Tesla Model S Circa 2011

Man, it never ends. Removed from the many, many issues at play both inside and outside Tesla’s Palo Alto HQ, a lawsuit sparked by a childish spat between Tesla CEO Elon Musk and a British cave diver still hangs over Musk’s head.

If you don’t recall the ridiculous episode, Vernon Unsworth, who was instrumental in organizing the successful rescue of a Thai soccer team last summer, told Musk to shove his experimental, homemade submarine up his ass. Musk responded by referring to him as “pedo guy”on Twitter.

On Monday, Musk sought to have the defamation suit tossed out on the grounds that “pedo” could mean a lot of things. This is 2019, people, and it’s Silicon Valley.  (Read More…)

By on August 5, 2019

Tesla has resurrected its plan to provide free, unlimited access to its supercharger stations for the automaker’s customers. While the company frequently rejiggers its product offerings, this one still came out of left field. CEO Elon Musk called the plan unsustainable when the company officially eliminated it in 2018.

However, with the manufacturer seeing increasing sales volume from the Model 3, its premium models are falling by the wayside. Tesla reported 95,200 deliveries in the second quarter, the vast majority being the Model 3. While the company managed to generate $6.3 billion in revenue in the second quarter from those transactions, weaker Q1 volumes took a bite out of its share price and it still lost money through both periods. But it lost a couple hundred million less in Q2 thanks to the uptick in sales.  (Read More…)

By on July 29, 2019

Careful not to skip any opportunity to build hype for his auto brand, Elon Musk tweeted on Saturday that Tesla customers would soon be able to stream YouTube and Netflix videos from the comfort of their car’s interior. While it goes without saying, the CEO added that the feature would only be available while the vehicle is stopped until “full self-driving is approved by regulators” — as if that was the singular issue holding up autonomous vehicles.

The resulting comment thread led to a gaggle of other revelations. According to Musk, Tesla’s new pickup is slated to unveil in 2 to 3 months “maybe” and software version 10 is just around the corner.

Version 10 is claimed to come out as early as next month, incorporating games, new infotainment features (like text-message reading), improved Autopilot functionalities via FSD, better traffic light and stop sign recognition, and Tesla’s Smart Summon. However, Musk noted that some of these features will require the usage of the company’s paid premium connectivity package.  (Read More…)

By on July 23, 2019

Elon Musk certainly hasn’t been kind towards Ford in the past, talking about how the Dearborn truck plant is like a morgue. It’s a bold move considering his cars are assembled outdoors in a tent, but that hasn’t stopped the Twitter man from tweeting. He even recently claimed the Tesla all-electric pickup truck will be as good as Ford’s truck but also be able to tow 300,000 pounds.

Yes, that’s a totally ridiculous number and there’s no way the truck will tow that much in the real world, under the SAE J2807 standard. That’s assuming, of course, the Tesla pickup even exists. While Musk has long teased the truck, we’ve yet to actually see it in any physical capacity. It’s easy to say (or joke) your truck can tow 300,000 pounds when it doesn’t actually exist.

Ford is also working on an all-electric pickup truck. Today the company released a video of that development process, including the vehicle towing rail cars weighing over 1 million pounds. Not only is that 700,000 pounds more than Tesla’s claim but, since it’s a real truck that really exists, we can actually see it do it.  (Read More…)

By on July 16, 2019

When Elon Musk announced Tesla was developing a new Roadster, he promised us the moon. When released, the car is supposed to yield a 0-to-60 time of just 1.9 seconds and possess an all-electric range over 620 miles, thanks to its sizable, 200-kWh battery pack. As if that wasn’t ambitious enough, he spent last week outlining an optional SpaceX package that includes “cold-air thrusters” that might allow the vehicle to fly.

Then he said he was serious.

As you know, flying cars are bullshit. The closest we’ve come after decades of work are road-going airplanes. But Musk asserted over Twitter that some variants of the Roaster would fly or, at the very least, be able to hover. This has to be a joke, right?  (Read More…)

By on July 9, 2019

Are you sitting around waiting for a Tesla Model S or Model X update before spending your hard-earned money on the high-end electric vehicle of your dreams? You might as well just buy now because, according to Elon Musk himself, there is no major refresh or updates coming to either of Tesla’s top-end models. Cue the sad trombone.

In response to a tweet from last night, Musk answered the question as to whether there would be an update on the horizon. “There is no ‘refreshed’ Model X or Model S coming” said the CEO, “only a series of minor ongoing changes.” Musk went on to then say there there might be small updates over time, like integrating the motor from the Model 3 into the S and X, but that just happened recently so there’s nothing in the pipeline.  (Read More…)

By on May 22, 2019

Elon Musk + Tesla Model S Circa 2011

In what kind of shape would Tesla find itself today if tech giant Apple had acquired the automaker in 2013? That’s a question for analysts to ponder in their off hours, as Apple’s reported offer went nowhere.

Craig Irwin, an analyst at Roth Capital Partners, claims specific knowledge of the failed bid, telling CNBC that Apple wished to acquire Tesla for $240 a share — a higher price than the automaker’s stock currently trades at. (Read More…)

By on May 21, 2019

Image: Tesla

There must be more than a few half-grins among the cynical, perpetually grumpy denizens of Finance Twitter today. For the first time since late 2016, Tesla’s stock price opened below $200. Compared to the sky-high valuation the company’s enjoyed a year or two ago, Tesla’s sinking shares reflect the weight of reality.

Tesla needs cash. Years after it began building electric cars for the fairly well-off masses, the company’s actions in recent months stands in stark contrast to the rosy predictions of the past, and it seems people are taking notice. (Read More…)

By on May 17, 2019

tesla-model-3

Ten months. That’s how long Tesla’s CEO claims this month’s offering of $2.7 billion in stock and convertible notes bought the struggling automaker.

Hungry for cash to fuel new model development, a Shanghai Gigafactory, and an assembly line on which to build the upcoming Model Y crossover, Tesla has resorted to endless measures to trim costs, from moving to an online sales model and attempting to cull the bulk of its sales staff, to general staff reductions, to reducing build configurations. Vehicles prices seem to change by the week.

And still it’s not enough. To keep the automaker afloat, Musk told employees, the company will need to count every penny. (Read More…)

By on May 3, 2019

Elon Musk

Hot on the heels of yesterday’s Tesla cash-raising bonanza, the electric automaker is looking to boost the size of its stack once again.

After Thursday’s shelf offering of stock and convertible notes, Tesla announced Friday it wants to boost its injection of capital from $2.3 billion to $2.7 billion, issuing further common stock and debt. CEO Elon Musk now says he’ll buy $25 million of the new stock, up from $10 million yesterday. (Read More…)

By on May 2, 2019

Financial Twitter and Tesla Twitter — groups that are often one and the same — are in hardcore prediction mode after Tesla announced plans to raise $2 billion through the sale of stock and convertible bonds.

The automaker’s move comes after a first-quarter earnings report showed a steep drop in deliveries and automotive revenue, plus a $702 million net loss. Tesla’s cash pile dwindled, quarter over quarter, to $2.2 billion — its smallest stack in years. Among those snapping up shares will be CEO Elon Musk, who promises to buy $10 million in common stock. (Read More…)

By on April 25, 2019

tesla-model-3

Analysts and investors, who were already warned to expect disappointment, didn’t walk away disappointed from Tesla’s first-quarter 2019 earnings report. The automaker’s two-quarter streak of profitability came to a crashing halt, with the company warning that next quarter might bring with it another loss.

Quite an about-face from the rosy projections issued at the start of the year. It wasn’t all that long ago that CEO Elon Musk was only mildly worried about Q1. Now, as the company reports a $702 million loss, the onus is on Musk to restore investor enthusiasm the hard way. (Read More…)

By on April 23, 2019

tesla model x, Image: Tesla Motors

Did you miss Autonomy Day yesterday? If you’re unaware, that’s the name given to Tesla CEO Elon Musk’s promise-filled, self-driving-focused speech to investors yesterday in the cradle of dreams (also known as Silicon Valley). There, Musk promised cars a driver can sleep in; cars that will make its owner money. Cars that, despite their self-driving nature, might be allowed to bash other vehicles around a bit.

Also stemming from that announcement? Musk’s assertion that any new car that isn’t a Tesla will be as antiquated and useless as a horse in three years. That’s right, even that affordable Kia Rio hatch that can be serviced anywhere. It’s “financially insane” to buy that, you know. (Read More…)

By on April 22, 2019

Elon Musk

Tesla celebrated “Autonomy Day” on Monday, broadcasting a web presentation to investors touting its self-driving strategy — part of CEO Elon Musk’s attempt to prove that the manufacturer’s longstanding commitment to the technology will bear fruit. While the mood was undercut by news of one of its vehicles spontaneously combusting in a Shanghai parking garage, the company stayed the course, focusing on autonomy instead of electrification.

Still, it wasn’t the fire that had investors seeking comfort. Tesla’s promise of fully self-driving vehicles is years old, with Musk initially pegging 2018 as the target date. That didn’t happen, with 2018 turning out to be the year the company faced elevated scrutiny over the effectiveness of its Autopilot system after a series of high-profile crashes.  (Read More…)

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