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Tesla’s Model 3 Production Leader Exits the Company

3Jul By AnkitaNo Comments

News

Tesla’s Model 3 Production Leader Exits the Company

The automotive and energy storage company, Tesla has confirmed that the head of Model 3 production, who went on leave after chief executive Elon Musk took over his duties, will not be coming back. The departure of engineering senior vice president Doug Field came as California-based Tesla appeared to have finally hit a self-imposed goal of cranking out 5,000 Model 3 electric cars in a week. Tesla co-founder Elon Musk fired off a Twitter post over the weekend saying "7,000 cars, 7 days." In a note to investors yesterday, Analyst Trip Chowdhry of Global Equities said that in the preceding week, Tesla produced 5,000 of its Model 3 cars, along with a combined total of 2,000 Model S and Model X vehicles. Musk has been managing the Tesla production line, which has been rejiggered to pump o...

Elon Musk’s Co. To Construct Chicago-To-O’Hare Express Transport

15Jun By Gauri SinghNo Comments

USA

Elon Musk’s Co. To Construct Chicago-To-O’Hare Express Transport

The American business magnate Elon Musk on Thursday claimed that a high-speed transportation system will move people between downtown Chicago and O'Hare International Airport at speeds of up to 150 mph could be operational in about three years. The basic aim of the project is to reduce travel time to less than minutes. Elon Musk joined Chicago Mayor Rahm Emanuel and officially announced that The Boring Company, a Musk-owned firm has been chosen for the project and will fund it completely. According to the statement, the electric vehicles will carry passengers through underground tunnels in about 12 minutes each way. The new project was being called as the "the fast lane to Chicago's future" and also claimed that it will create employment and bring in competition in the city. In this ...

Norway’s $1 Trillion Wealth fund Opposes Elon’s Double Role at Tesla

7Jun By Lavina TolaniNo Comments

USA

Norway’s $1 Trillion Wealth fund Opposes Elon’s Double Role at Tesla

Norges Bank Investment Management (NBIM), world's largest sovereign wealth fund on Wednesday said that it had backed an initiative to wrest the role of chairman away from Tesla Chief Executive Elon Musk. The proposal which represented the strongest challenge yet to Musk’s grip on the Silicon Valley car company got defeated Tesla’s annual meeting of stockholders on Tuesday. Norway's $1 trillion wealth fund is in favour of dividing the roles of CEO and chairman to strengthen corporate governance. Furthermore, the fund voted against the re-election of board member Antonio Gracias but favoured the re-appointment of Elon Musk’s brother Kimbal and James Murdoch. It is also crucial to note that NBIM had voted against Elon Musk's proposed pay package that was valued at $2.6 billion by ...

After Elon Musk, More Tech Moguls Are Deleting Facebook

10Apr By Sheldan RungasamyNo Comments

News

After Elon Musk, More Tech Moguls Are Deleting Facebook

Facebook is currently facing a privacy crisis after reports emerged that third party apps such as Cambridge Analytica could access personal user data per millions and use these informations for unfair practices. Consequently, a campaign against the social media giant followed under the banner #DeleteFaceboook which was picked up by several personalities in the tech industry such as Whatsapp co-founder Brian Acton and Tesla and SpaceX CEO Elon Musk. Reports are now emerging that Apple co-founder Steve Wozniak has also shut down his Facebook account obviously concerned by the data policy and possible breaches of private information. He sent an email to USA Today explaining the motive behind his decision to leave Facebook, stating that Facebook enrich themselves by selling users' inform...

Review of Tesla’s Quarterly Vehicle Production

6Apr By Sheldan RungasamyNo Comments

ANALYSIS

Review of Tesla’s Quarterly Vehicle Production

Tesla has increased its production rate of electric cars in the first quarter of 2018 as new data reveals that the company has presently produced over 35,000 new vehicles. This production amount in 4 months represent a 34% increase compared to their previous record of 25,700 cars produced in Q2 2017. This chart from Pixr8 News indicates that Tesla’s production of car since Q3 2016 is on inconsistent in almost every quarter. Usually, the carmaker company produces approximately 25,000 cars per quarter since Q3 2016 and the 35,000 mark is a noteworthy milestone for Tesla. Unfortunately, a report emerged today indicating that the company’s Fremont factory ground vehicle production came to a standstill, at least momentarily, on Tuesday morning due to a fire that spread out in Tesla’s ...

Elon Musk Deletes Facebook Pages of Tesla and SpaceX

24Mar By Sheldan RungasamyNo Comments

News

Elon Musk Deletes Facebook Pages of Tesla and SpaceX

A few days ago, Whatsapp co-founder and former Facebook employee Brian Acton joined the Delete Facebook campaign by posting tweets encouraging individuals to delete their accounts on the social media website. His position against the social media website comes in the wake of Facebook’s data breach scandal with Cambridge Analytica. Elon Musk, the famous CEO of SpaceX and Tesla, shared Acton’s opinion and took to the micro blogging website to show support to the campaign. Indeed, the eccentric CEO retweeted Brian Acton’s tweet asking, “What’s Facebook?” What’s Facebook? — Elon Musk (@elonmusk) March 23, 2018 Another Twitter user then suggested Musk to delete SpaceX’s Facebook page and lived up to his words. “I didn’t realize there was one. Will do,” he replied. I didn’t real...

Elon Musk Set to Receive over $2.6 Bn Pay Package From Tesla

22Mar By Sheldan RungasamyNo Comments

News

Elon Musk Set to Receive over $2.6 Bn Pay Package From Tesla

Shareholders of Tesla Inc, the electric car and solar panel maker have agreed to deliver an incredible pay package to famous CEO Elon Musk worth $50 billion if he makes the company reach their targets over the next 10 years, stated a person participating in the vote which took place in California, where Tesla’s headquarters are found. The participant, who preferred to remain anonymous because official vote results have not yet been released states that the agreement was by a large margin. The final results will be shared next week in a filing to the U.S. Securities and Exchange Commission. Tesla says the pay package, an all-or-nothing agreement is worth $2.6 billion looking at the current stock values, but it could increase significantly if Musk reaches the 12 incredible targets whic...

Twitter Argument Between Elon Musk and Donald Trump

13Mar By Sheldan RungasamyNo Comments

USA

Twitter Argument Between Elon Musk and Donald Trump

United States President, Donald Trump, and Tesla and SpaceX CEO, Elon Musk started a political debate on Twitter concerning the import tax difference between China and USA on cars. It all started off from a tweet of US President over his promised tariffs on foreign steel and aluminum. On Wednesday, 7 March, the White House resident tweeted that China were asked to find ways to cut the trade deficit between the two countries by a billion dollars. Truthfully, the request comes from America and the correct amount is $100 billion. “China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States. Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with. We mus...

SpaceX launches Falcon Heavy with Elon Musk’s Tesla Car in it

7Feb By Sabhyata AgarwalNo Comments

News

SpaceX launches Falcon Heavy with Elon Musk’s Tesla Car in it

SpaceX launched its most powerful rocket, Falcon Heavy on Tuesday around 3:45 pm ET, from Kennedy Space Center in Florida. Thousands of witnesses were heard cheering on the company's live stream in Florida, which was viewed by 3 million people from all around the world. More photos from Falcon Heavy's first flight → https://t.co/095WHX44BX pic.twitter.com/6vlXJoYif0 — SpaceX (@SpaceX) 7 February 2018 Although it wasn't clear up to the launch that the rocket would work or not. The rocket's smooth take-off stunned everyone. However, the most magnificent thing about the Falcon Heavy wasn't only its convincing muscular body but also a fact that it carried Elon Musk's personal Tesla (TSLA)roadster along with three hefty telecommunications satellites into orbit. "Pe...

How Tesla’s First Truck Charging Stations Will be Built

3Feb By reutersNo Comments

Tech

How Tesla’s First Truck Charging Stations Will be Built

Elon Musk, the chief executive of Tesla Inc, has said little about how he plans to turn his prototype electric truck into reality. But Reuters has learned that Tesla is collaborating with Anheuser-Busch, PepsiCo and United Parcel Service Inc to build on-site charging terminals at their facilities as part of the automaker’s efforts to roll out the vehicle next year. Details of the partnerships, which have not been disclosed previously, are still being hammered out, but include design and engineering from Tesla, the companies said. They declined to disclose what portion of the building costs, if any, Tesla would pay, or whether Tesla would be compensated for its work. The firms are among nine major corporations that have placed pre-orders for Tesla’s truck, dubbed the Semi. With ...

2Jan By reutersNo Comments

CHINA

LeEco Founder Defies China Return Order, Stays In U.S. For Car Fundraising

The founder of debt-laden tech conglomerate LeEco has defied orders from Chinese regulators to return to the country before end-2017, saying he needed to stay in the United States as a fundraising for his electric car startup was making progress. The Beijing branch of the China Securities Regulatory Commission (CSRC) issued a notice last week ordering LeEco CEO Jia Yueting to return to China to sort out a mounting debt pile linked to his firms and protect investors’ rights. Jia said in a statement that he had asked his brother, Jia Yuemin, to meet the regulator face-to-face last Friday to provide a report after the notice was issued. “I am deeply sorry and blame myself for the negative impact of LeEco’s debt crisis,” he said in the statement that was posted on his official WeChat ...

Elon Musk Promises On Twitter To Build Pick Up Trucks ‘Right After’ Model Y

27Dec By RishabhNo Comments

News

Elon Musk Promises On Twitter To Build Pick Up Trucks ‘Right After’ Model Y

It's just about a month that Tesla launched its electric semi-truck along with a surprise launch of Roadster in November, Musk took to Twitter today relying to a fan that he will soon launching a pick-up truck. I promise that we will make a pickup truck right after Model Y. Have had the core design/engineering elements in my mind for almost 5 years. Am dying to build it. — Elon Musk (@elonmusk) December 26, 2017 When a fan requested that he awaits on Tesla's pick-up truck, Musk tweeted,“I promise that we will make a pickup truck right after Model Y. Have had the core design/engineering elements in my mind for almost 5 years. Am dying to build it." When asked about the size of the pick-up truck and whether it will be comparable to Ford F150, he said,"Similar total size. M...