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Elon Musk Plans to Bring Tesla Partially in India Next Year

5Nov By Gauri SinghNo Comments

BUSINESS

Elon Musk Plans to Bring Tesla Partially in India Next Year

Tesla Motors' Chief Executive Officer (CEO), Elon Musk, has revealed the company's plans of expanding its overall market beyond North America, Europe, and China. The owner of the largest EV company stated that he recently asked his service team to expand to all population regions (not just major metros) in North America, Eastern Europe, China, and Japan by the end of next year. Any plans to make service outside Tesla serviced countries easier? — Anner J. Bonilla???️?? (@annerajb) November 2, 2018 The 47-year-old opened up about his firm's expansion plans after a user responded to a tweet in which Musk had revealed that Tesla and Panasonic are together the largest producer of batteries for electric vehicles in the world. In a follow-up tweet, Musk said the fir...

Tesla Rolls Out a Cheaper, Mid-Range Model 3

20Oct By Gauri SinghNo Comments

BUSINESS

Tesla Rolls Out a Cheaper, Mid-Range Model 3

One of the largest EV companies Tesla is coming up with a new, cheaper mid-range battery version of the Model 3 that starts at $45,000 before federal tax incentives. Tesla CEO Elon Musk made an announcement about the new variant through Twitter and also stated that it has an estimated battery range of 260 miles. The company’s website has already been updated and the customers in the U.S. can order the mid-range version as of today. The model will soon be offered in Canada as well. Just released lower cost, mid-range Tesla Model 3 & super simple new order page https://t.co/cz0TQn7IOZ — Elon Musk (@elonmusk) October 18, 2018 “As Model 3 production and sales continue to grow rapidly, we’ve achieved a steady volume in manufacturing capacity, allowing us to diversi...

Elon Musk to Pay a $20 million Fine & Step Down as the Chairman

18Oct By Gauri SinghNo Comments

News

Elon Musk to Pay a $20 million Fine & Step Down as the Chairman

Elon Musk, the CEO of the electric vehicle giant Tesla is the largest shareholder of the company and is again looking to buy another $20 million in common stock. As a part of the deal, Musk has agreed to pay a $20 million fine and step down as chairman of the board for at least three years. He will still keep a board seat and has not admitted or denied any of the SEC’s allegations. Along with this, Tesla will pay a separate $20 million fine. The company also agreed to monitor and pre-approve Musk’s communications through channels such as Twitter and the Tesla blog. The 8-K document detailed a settlement agreement between Musk, Tesla and the SEC over allegations of securities fraud connected to his August 7 “funding secured” tweet about taking the electric automaker private. At the...

Following, SEC’s settlement, Elon Musk out as Tesla Chairman

1Oct By Gauri SinghNo Comments

News

Following, SEC’s settlement, Elon Musk out as Tesla Chairman

In the charges against Tesla and Elon Musk, the entrepreneur has agreed to pay a total of $40 million and make a series of concessions to settle a government lawsuit. This settlement is enabling Musk to remain CEO of the electric car company but requires him to discontinue his role as chairman for at least three years. However, he will continue to be the company's CEO. Following this, Tesla is looking to hire an independent chairman to oversee the company. "I do not doubt the value of Musk to Tesla," John Coffee, a Columbia University law professor and corporate governance expert, said. "Without him, they are just a struggling startup that is burning cash at a hopeless rate and is facing a debt refunding crisis in the near future. Besides a new chairman, Tesla was also ordered to ...

Tesla CEO Elon Musk Charged with Fraud by US Regulators

28Sep By Gauri SinghNo Comments

USA

Tesla CEO Elon Musk Charged with Fraud by US Regulators

The US Securities and Exchange Commission has charged Tesla CEO Elon Musk with securities fraud accusing him of misleading investors in tweets about taking the company private last month. It was in August that Musk tweeted about taking Tesla private. He also stated that he had raised funds for the same purpose. But, he never took the company private, instead continued with it being public. The SEC said Musk's statements on Twitter were "false and misleading" and that he had never discussed the plans with company officials or potential funders. However, Musk rejected the SEC's allegations, calling the charges baseless and swearing to defend himself. "This unjustified action by the SEC leaves me deeply saddened and disappointed," Musk said in a statement. "I have always taken action i...

Tesla to Build its own Car Carrier Trailers to Boost Deliveries

26Sep By Gauri SinghNo Comments

USA

Tesla to Build its own Car Carrier Trailers to Boost Deliveries

With an aim to accelerate deliveries, electric car maker Tesla has started manufacturing its own car carrier trailers as stated by CEO Elon Musk. The company is seeing a production of about 4,000 Model 3 vehicles per week. Also, it is witnessing an increase in delivery volume by a factor of 3-4 in some markets and therefore, logistics is becoming a bottleneck. "Shortages of railway cargo carriers, trucks, trailers and drivers are already common in the industry, but Tesla's sudden volume increase highlights the issue even more," a report stated. Tesla's delivery volume is increasing so much this week as the company is looking to end the quarter strong. The company is now facing a problem where they are running out of car carriers. As it is often the case with Tesla, they decided to com...

Elon Musk’s Ex-Wife Tells You What it Takes to Become a Business Magnate

24Sep By Gauri SinghNo Comments

Story

Elon Musk’s Ex-Wife Tells You What it Takes to Become a Business Magnate

Everybody is aware of the business tycoon and billionaire Elon Musk who owns the largest EV company Tesla and has co-founded many of the biggest leading companies in America, including Paypal, Space X, among others. What does it take to be a billionaire or a business tycoon like Musk? For any advice on this matter, consider someone who has been married to one. Justine Musk, first wife of billionaire Elon Musk knows exactly about wealth and hard work that takes to reach the level of a billionaire. The lady was married to Musk from 2000 to 2008. Having lived with the business magnate for eight long years, Ms. Musk who is an author, had a ringside view of one of the world’s most successful entrepreneurs and businessmen. She poured her views on this matter when someone on her social medi...

Tesla Stock Drops After Elon Musk Smokes Weed on a Talk Show

16Sep By AdityaNo Comments

News

Tesla Stock Drops After Elon Musk Smokes Weed on a Talk Show

Elon Musk led Tesla's share price drops 8.2% after he took a puff of marijuana during a live YouTube talk show. In The talk show of The Joe Rogan Experience, the anchor host Rogan who lit up a joint more than two hours into the interview and this is how Elon started asking about the joint, Elon asked, “So is that a joint? Or is it a cigar?” Rogan said, it's marijuana inside tobacco, and asked Elon, did you ever tried it? “I think I tried once,” Musk replied with a laugh. “C’mon, man. You probably can’t because of stockholders, right?” Rogan said. “I mean it’s legal, right?” Musk said. “Totally legal,” Rogan said. “OK,” Musk said. Then Elon took a puff of a cigratte and drink whisky. After a while Musk starts receiving the messages from his friends saying, ‘What the he...

Elon Musk’s Tesla To Remain a Public Company

25Aug By Gauri SinghNo Comments

News

Elon Musk’s Tesla To Remain a Public Company

After brewing up all the excitement of people regarding Tesla going private, the company announced that it will remain a public company. CEO Elon Musk on Friday stated that after interacting with shareholders and investigating the procedure and process of taking the company private, he believes the better way for Tesla is to remain public. For the same purpose, Musk had a meeting with Tesla’s board of directors on Thursday and announced his decision. "Elon communicated to the Board that after having done this work and considered all factors, he believes the better path is to no longer pursue a transaction for taking Tesla private," the board members wrote. On the other hand, the special committee that was formed for the purpose of taking Tesla private has been dissolved. When Musk...

Saudi’s Public Investment Fund to Invest in Lucid Motors

22Aug By Gauri SinghNo Comments

MIDDLE EAST

Saudi’s Public Investment Fund to Invest in Lucid Motors

Saudi Arabia-based public investment fund is reportedly looking to invest in Lucid Motors, a Newark, CA-based electric car maker which is also a rival of Elon Musk’s Tesla. The amount of the fund is expected to be more than $1 billion and the fund ownership of the company will be transferred as stated by the reports. Under this particular deal, the fund will provide an initial investment of $500 million and then make two subsequent investments if Lucid hits certain production targets. Lucid Motors was established in 2007 by Sam Weng (former Oracle executive) and Bernard Tse (former Tesla vice president). The companies that have backed Lucid include Venrock and Tsing Capital. Unlike Tesla, the company has yet to release any cars on the open markets. However, the previous year Lucid...

8Aug By Gauri SinghNo Comments

News

Elon Musk’s Tesla is Going Private

Elon Musk, the chief executive of electric car manufacturer Tesla is taking the carmaker private at $420 per share. This move comes when the company is witnessing immense growth and financial constraints. When the deal is implemented, it would take Tesla out of the glare of Wall Street but might limit its access to capital. “There’s a lot of noise that surrounds a public company and people are constantly commenting on the share price and value,” Musk said. “Being public definitely increases the management overhead for any given enterprise.” Taking Tesla Privatehttps://t.co/kw4eHOJfBh — Tesla (@Tesla) August 7, 2018 Musk stated his plans of going private on Twitter and this shocked the investors and sent Tesla’s stock price soaring as much as 8.5 percent befo...

Tesla Won’t Sell Stock & Plans to Fund China Factory with Local Debt

2Aug By Gauri SinghNo Comments

USA

Tesla Won’t Sell Stock & Plans to Fund China Factory with Local Debt

Elon Musk, the well-known entrepreneur who is the CEO of Tesla has announced that his electric car company won’t be raising cash by selling stock. Along with this he also stated that the investment in the new factory to be set up in China is expectedly to be done through a local debt from the bank. Provided that Tesla is burning cash to boost up development of its Model 3 sedan, various investors raised up a query that how will the company continue to fund its operations. To this, the company responded that it is on the path of reaching profitability by improving margin and cutting costs. However, Tesla reported on Wednesday that its quarterly loss rose to $742.7 million which was earlier $401.4 million in the same period last year. In the third quarter, the founder has planned to ma...