#tesla
Electric Vehicle Registrations Surge Across the U.S.
Continuing a nationwide & industry trend towards more electric vehicles, more Americans are registering EVs.
Elon Musk Sells Tesla Stock Worth $4 Billion
Elon Musk has sold an estimated $4 billion worth of Tesla stock days this week after reaching a $44 billion deal to purchase Twitter. Regulatory filing show the CEO offloading nearly 4.5 million shares of the automaker between April 26th and the 27th.
The timing of the transaction makes the why of the situation fairly obvious. Despite the resulting political hubbub, Musk reached an agreement on April 25th to acquire Twitter. The deal was tied up with tens of billions of dollars worth of his Tesla shares to support margin loans after the executive said he could come up with $21 billion in equity. While some questioned where the funding would come from, others claimed it was obvious.
Unintended Consequences: Henrik Fisker Abandons Twitter After Musk Buys the Place
By now, save for only the least informed gearheads, almost everyone has heard Elon Musk has been successful, at least to this point, in his quest to buy Twitter. This development has caused no shortage of natterings in all corners of the internet, with tech blogs suddenly discovering the unpredictable and sometime unfathomable morass that is Musk’s social media presence. Auto journalists have been dealing with such issues for years.
One surprising result of the Twitter buyout? Henrik Fisker, boss of an EV company which ostensibly competes with Tesla, has packed up camp and disappeared.
California Tech Mogul Launches Senate Run to Destroy Tesla
Dan O’Dowd, the billionaire founder and CEO of Green Hills Software, has announced he’s running for the U.S. Senate and his campaign has a single platform — destroy Tesla Inc.
“Today I launched my campaign for U.S. Senate to make computers safe for humanity. The first danger I am tackling is @ElonMusk‘s reckless deployment of unsafe @Tesla Full Self-Driving cars on our roads,” O’Dowd tweeted on April 19th.
The tweet was accompanied by a 60-second advertisement that showed clips of various Tesla vehicles equipped with the contentious software nearly striking pedestrians and making other mistakes in traffic while a disembodied voice explains does its utmost to make you feel like Tesla is an evil company that wants its cars to kill people.
Judge Rules Against Elon Musk in Tweet Case
When Tesla boss Elon Musk expressed a desire to buy Twitter last week, citing an absolutist vision of free speech as at least one reason behind his motivations, one had to wonder if his running afoul of the Securities and Exchange Commission over one of his tweets played a part.
To be sure, even if Twitter had no regulations moderating speech on the platform, Musk (or anyone in a similar position) could violate SEC regulations via tweet — a platform’s rules don’t protect someone from the Feds’ regs.
Tesla CEO Says Cybertruck, Semis, & Robots Coming in 2023
Last night, Tesla held a “ Cyber Rodeo” to celebrate the Gigafactory that’s opening in Austin, TX. The invitation-only event saw thousands of attendees, fireworks, a drone light show, Elon Musk in a cowboy hat, and a list of manufacturing promises so long that you almost have to believe that one of them will actually come true.
Among these were claims that Cybertruck would undoubtedly enter into production in 2023, along with the similarly delayed electric semi and Roadster. The CEO also touted Tesla’s often-criticized Full Self Driving (FSD) as poised to revolutionize the world after its public beta test is expanded later this year. Robotaxis are also said to be in the works and a humanoid robot, named Optimus, will help usher in “an age of abundance.”
Please, People: Don't Jump Your Cars for Clicks
I am an optimist by nature. One must be, in order to be a lifelong Chicago sports fan — otherwise, the crushing realization that decades of failure are likely to be followed by a future that consists of more of the same might cause a person to take a one-way stroll into Lake Michigan.
I am trying to retain that optimism even as more and more evidence, both empirical and anecdotal, emerges that social media has warped humanity’s brains beyond recognition. I try to see some value in it — surely your second cousin twice removed would be unaware of your recent Jamaican vacation and how much fun you had YOLO’ing if you didn’t have a Facebook account, right?
Surely your 10 Twitter followers must know your thoughts on how to solve the morass in Ukraine, because you have figured out something that world leaders haven’t, and the world just has to know.
Tesla Pauses Production in Shanghai
Tesla Inc. is briefly suspending production at its Shanghai factory for two days, starting today, as China upgrades restrictions pertaining to a new COVID outbreak. While the rest of the world has been scaling back pandemic-related restrictions, the Chinese Communist Party has begun issuing new mandates after locking down 51 million people at the start of the week. The government has said its part of its no-tolerance approach to the virus after citing roughly 1,700 infections spread across a dozen cities.
This has already started impacting supply chains that have been beleaguered by two years of restrictions already, apparently catching Tesla in the process. Despite Shanghai not having been issued any official orders, there’s been mounting pressure for businesses to temporarily shut down or reinstate protocols to have people work from home.
Tesla Raises Prices Twice This Week
Tesla is receiving a lot of attention for having increased prices twice in one week. The Model 3, often presented as the company’s most-affordable option catering to the masses, now starts at $48,440 in the United States. Its crossover equivalent, the Model Y, now starts at a whopping $64,400 while larger products have surpassed the six-figure point of entry. Despite being the brand’s oldest model, the Model S saw increases over the summer (when it was just $90,000) and has since settled into $101,200 before you’ve even said the words Plaid or Full Self Driving. But the Model X remains even more expensive at $116,200.
Worse yet, those who can afford such vehicles won’t even be able to get them in a timely fashion. Despite weathering COVID restrictions rather well vs legacy automakers, supply chain issues seem to have caught up with the EV manufacturer. Wait times on order vehicles are now several months long. Some customers are being told that they’ll likely have to wait until 2023, specifically those hoping to score a Model X.
Ford Outlines EV Production Strategy for Europe
Ford Motor Co. has shared its intent to launch seven fully electric vehicles in Europe, including a battery-electric variant of the Puma subcompact crossover, its best-selling (and looking) passenger car for the market. Though the first EV in its new product offensive will be a midsize crossover helping Blue Oval deliver on a previous promise to manufacture electric vehicles in Cologne, Germany.
The unit is said to capitalize on Ford’s partnership with Volkswagen Group by leaning on the latter entity’s MEB platform that already underpins VW’s ID products and Audi’s e-tron vehicles. Driving range is estimated at 311 miles per charge, with the company anticipating a formal debut later this year.
Drama: Elon Musk Dares UAW to Hold Union Vote in California
Tesla CEO Elon Musk has invited the United Auto Workers (UAW) to hold a union vote at the company’s facility in Fremont, California. While this may fool you into believing the executive has had a change of heart in regard to unionization, Musk seems to be inviting the labor group into a trap to dunk on his political enemies.
It’s no secret that there’s been bad blood between Tesla and the Biden administration. The White House has repeatedly left the automaker out of its discussions pertaining to industry regulation and proposed additional financial incentives for automakers using unionized labor to build electric vehicles. As the world’s largest purveyor of EVs by far, Musk believes his organization deserves some acknowledgment and has noted that the UAW is one of the Democratic Party’s staunchest allies. He’s asking for the vote in Fremont because he clearly thinks it will fail.
Report: Elon Musk and Brother Face Insider Trading Probe
The Securities and Exchange Commission (SEC) is reportedly investigating whether stock sales by Tesla CEO Elon Musk and his brother, Kimbal Musk, violated insider-trading rules.
Launched in 2021, the probe is looking into shares sold by Kimbal valued at $108 million one day before Elon polled Twitter to see whether or not he should offload 10 percent of his stake in the company, suggesting he would run with the results. Though the tweet itself was a snide way of discussing proposals from Democrat legislators that would have imposed new taxes on unrealized capital gains, effectively money that doesn’t yet (and may never) exist.
Two's Complement: Jim Farley Says Ford Remains as One
Speculators on Wall Street (where else?) have been yammering about the possibility of Ford Motor Company creating a second company for its moving-at-light-speed EV business. To that end, CEO Jim Farley had one thing to say on Wednesday:
“We have no plans to spin off our electric business or our ICE business,” he told people assembled on a finance call.
NHTSA Looking Into Tesla Vehicles Over 'Phantom Braking'
The National Highway Traffic Safety Administration (NHTSA) has announced it is investigating 416,000 Tesla vehicles after receiving 354 individual complaints of unexpected braking.
America’s largest purveyor of all-electric vehicles was forced to cancel its push of version 10.3 of its Full Self-Driving (FSD) beta software last fall after receiving reports that it was creating problems for some users. Drivers were complaining that the update had created instances of phantom braking after the vehicle issued false collision warnings. However, things only seemed to get worse as complaints to the NHTSA grew more frequent after bumping FSD back to an earlier version.
Opinion: Tesla and Elon Musk Need to Hold Themselves Accountable
Tesla and its boss, Elon Musk, stepped in it again this week.
As we reported the other day, Tesla faced a recall of 54,000 vehicles because the company had programmed its Full-Self Driving software to allow rolling stops.
When the Associated Press’s Tom Krisher wrote a pretty straightforward news story describing the recall, Elon Musk called him a “lobbyist” while replying to a tweet.
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