JPMorgan Chase & Co has sued Tesla and its founder, Elon Musk, for $162.2 million for “flagrantly” breaching a contract signed by the companies in 2014. The contract relates to warrants the automaker sold to the bank that year. A warrant gives the holder the right to buy a stock at a set “strike” price […]
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Kimbal Musk sold 88,500 of his Tesla shares on Friday, according to an SEC filing, a day before his older brother and Tesla CEO, Elon Musk, publicly launched his infamous Twitter poll. At an average price of $1,229.91, he made nearly $109 million as a result of the transaction. The sale occurred on Friday, November […]
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More than 3.5 million Twitter users took part in a poll held by Elon Musk this weekend to decided whether he should sell 10 percent of his Tesla stock. And the answer was fairly clear cut: almost 58 percent of voters told him to sell. In a tweet on Saturday Musk told his Twitter followers: […]
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Tesla CEO Elon Musk took to Twitter last night to say that “no contract has been signed yet” with Hertz on a deal that saw the automaker’s valuation hit a $1 trillion market cap. Hertz announced on October 25 that it was making an “initial order of 100,000 Teslas by the end of 2022.” Following […]
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President Biden plans to fill two major roles at the National Highway Traffic Safety Administration (NHTSA) with high-profile appointees. One, Missy Cummings is a well-regarded autonomy researcher who has been vocal in her criticisms of Tesla. Reuters reported Tuesday that NHTSA will get its first head in four years, with the appointment of Steven Cliff, […]
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VW boss Herbert Diess called Elon Musk during a recent event at the automaker’s global headquarters to discuss what separates Tesla from its rivals. Diess and Musk are friends and have acknowledged their shared admiration for each other in the past. In fact, Musk once tried to hire Diess as the new CEO of Tesla. […]
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Tesla chief executive Elon Musk has revealed that the automaker should start building the Model Y at its new Gigafactory in Berlin, Germany before the end of the year. While speaking during a special ‘Giga-Fest’ event hosted in a small town near the factory over the weekend, Musk said that production should commence in November […]
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Tesla is moving its HQ to Austin, Texas, CEO Elon Musk has announced at the company’s annual shareholder meeting. The EV-maker already has a factory under construction in Austin that will manufacture both the Model Y and the Cybertruck, and held the shareholder meeting there, rather than in Palo Alto. The news wasn’t totally unexpected. […]
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Tesla chief executive Elon Musk has acknowledged it probably doesn’t need to make the beta testers of its ‘Full-Self Driving’ system sign a nondisclosure agreement (NDA). Earlier in the week, a report revealed that those with early access to the Full-Self Driving Beta program are required to sign an NDA that prohibits owners from speaking […]
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Tesla has broken ground on a new production facility in California that will focus on producing the company’s large Megapack battery system. The new factory is located in the Northern California city of Lathrop, not too far from Tesla’s existing factory in Fremont, California. Tesla also operates a 870,000-square-foot distribution center in Lathrop. Tesla’s Megapack […]
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