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☆ Elon Musk is tightening his grip on Tesla
▼ + stars: | 2024-05-06 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

Top Tesla exec Tom Zhu has been redeployed to China, Electrek reports. Several other top execs have left Elon Musk's company. Musk is consolidating power at Tesla as a vote over his $47 billion pay package looms. AdvertisementOne of Tesla's top executives has been reassigned to China in another sign that Elon Musk is tightening his grip on the electric carmaker. Prior to the move, Zhu had assumed more responsibilities at Tesla as Musk was increasingly occupied by X, according to Electrek.

Persons: Tom Zhu, —, Elon, Elon Musk —, Zhu, Musk, Zhu —, Tesla, Drew Baglino, Rohan Patel, That's Organizations: Elon Musk's, Service, China, X, Reuters, North, Business, Street Locations: China, Shanghai, Delaware

☆ Fisker's woes are another reason to consider leasing an EV over buying
▼ + stars: | 2024-05-01 | by ( Graham Rapier | ) www.businessinsider.com time to read: +4 min

There are several reasons to consider leasing an EV over buying. To be sure, the vast majority of EV owners don't have to worry about the maker of their vehicles imminently going out of business. AdvertisementUsed EV prices are a huge question markThere's limited data on EV resale prices. Pre-owned EV prices have fallen in line with new EV prices. EV leasing is growing in popularityLeasing an EV is no longer a niche concept.

Persons: —, Fisker, Cox, Polestar, Paul Jacobson Organizations: Service, EV, Leasing, International Energy Agency, American, Tesla, Cox Automotive, Electrek, Lease

☆ Big names are leaving Tesla. An analyst says Elon Musk has to quickly lay out what the layoffs mean.
▼ + stars: | 2024-04-16 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Elon Musk has been urged to lay out a vision for Tesla as senior staff leave amid layoffs. AdvertisementElon Musk must set out a vision for Tesla after investors were spooked by high-profile departures amid layoffs, an analyst has said. Tesla stock fell 5.6% on Monday after Elon Musk announced over the weekend that more than 10% of its workforce would be laid off. Those departing Tesla worked on critical projectsBoth Baglino and Thurston worked on critical projects at the Texas factory. In an X post earlier this month, Musk said Knight was "going to join OpenAI, so it was either xAI or them."

Persons: Elon Musk, Tesla, Musk, —, Elon, Dan Ives, Ives, Drew Baglino, he'd, Rohan Patel, Anthony Thurston, Electrek, Thurston, Fred Lambert, Amir Mirshahi, Zachary Kirkhorn, Tesla's, Ethan Knight, Musk's, Knight Organizations: Service, Elon, Energy, Tesla, Business, OpenAI Locations: Texas

☆ Tesla to cut more than 10% of its global staff
▼ + stars: | 2024-04-15 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Tesla is reportedly cutting more than 10% of its global staff of 140,000. It did not mention anything about the slowdown in demand for electric vehicles or about Tesla sales. In the fourth quarter Tesla briefly lost its title for the leader in global EV sales to Chinese automaker BYD. It recaptured the EV sales title from BYD in the first quarter, despite the drop in sales. This is not the first time that Tesla has cut staff.

Persons: New York CNN — Tesla, Elon Musk, ”, Electrek, Tesla, Musk Organizations: New, New York CNN, Reuters, General Motors, Ford, EV, US, Tesla Locations: New York, BYD, Germany, Texas, Mexico, Friday’s

Tesla plans to lay off more than 10 percent of its work force in an effort to cut costs, Elon Musk, the automaker’s chief executive, told employees on Monday. The job cuts, amounting to about 14,000 people, come as the company faces increasing competition and declining sales. The email was earlier reported by Electrek, an online news site, and Handelsblatt, a German business newspaper. The move is the latest sign that Tesla may not be as unstoppable as it once seemed. The company’s sales are no longer growing at a rapid pace, and it has been slow to introduce new models.

Persons: Tesla, Elon Musk, Mr, Musk, ”, Electrek Organizations: Elon, The New York Times Locations: Asia, Europe

☆ BP's EV charging arm cuts jobs, reduces global ambitions: Reuters
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: +2 min

EV charging, however, remains one of BP's key growth engines. The changes at BP Pulse are "a step towards ensuring that we can execute our goals with even greater precision and effectiveness". BP Pulse has also stepped away from several bets it made since launching its energy transition strategy under previous group CEO Bernard Looney in 2020. BP last May also shut down its home EV charging business. The company says it expects returns from its EV charging and convenience stores operations to exceed 15% and create $1.5 billion in earnings before interest, taxes, depreciation, and amortization by 2025.

Persons: Murray, Tesla, Bernard Looney, Auchincloss Organizations: BP, Reuters, EV Locations: United States, Britain, Germany, China

☆ Tesla shares dip in premarket trade after reports the firm will lay off more than 10% of global workforce
▼ + stars: | 2024-04-15 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

Elon Musk, CEO of Tesla, speaks with CNBC on May 16th, 2023. Tesla shares were down over 1% in premarket trade Monday on media reports that the automaker will lay off more than 10% of its global workforce. The company's stock was down 1.32% in premarket deals at roughly 8:20 a.m. CNBC was unable to independently verify the memo and has reached out for comment. Tesla had 140,473 employees as of December 2023.

Persons: Elon Musk, Tesla Organizations: CNBC, Reuters

☆ Tesla is taking the Cybertruck on a tour of China — but it won't be on sale
▼ + stars: | 2024-01-19 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Tesla is taking the Cybertruck on a tour of China, per a company WeChat post reported by Reuters. However, it's unlikely to be on sale in China soon, with Elon Musk saying it'll be hard to make legal. It comes as Tesla tries to fight off a new wave of competition from Chinese EV makers such as BYD. Elon Musk's company is taking the Cybertruck on a tour of China to show off its futuristic pickup, according to a company post on WeChat reported by Reuters . Elon Musk has previously hinted at the plan, posting on X on Sunday that Tesla could ship some Cybertruck prototypes to China for display.

Persons: Tesla, Elon Musk, —, Elon, Frederic J . Brown, Warren Buffett, Xiaomi, Musk Organizations: Reuters, Service, Elon Musk's, Geely, Huawei, New York Times, Business Locations: China, North America, AFP

☆ The stainless steel body of Tesla's Cybertruck is reportedly leading to issues with gaps in between the panels
▼ + stars: | 2023-11-27 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

The Cybertruck's stainless steel body has made it difficult to align its panels, WSJ reported. The stainless steel has been difficult to shape into panels without gaps or alignment issues, the publication said, citing individuals who had worked on the Cybertruck. The Journal said the stainless steel is made in "coils that resemble giant rolls of toilet paper." The billionaire has said the vehicle's stainless steel body will be bulletproof and even comes with an option for fixed bulletproof windows. Munro has also pointed out that the thick stainless steel body has several perks for owners.

Persons: Elon Musk, Tesla, —, Javier Verdura, Musk, you've, Giorgetto Giugiaro, Electrek, Sandy Munro, Munro Organizations: EV, Elon, Service, Street, DeLorean

☆ Tesla fans are lining up outside showrooms to catch a peek of the new Cybertruck
▼ + stars: | 2023-11-27 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

People lined up outside some Tesla showrooms over the weekend to see the Cybertruck. Dozens of Tesla fans lined up outside some of the company's showrooms over the holiday weekend trying to catch a glimpse of the new Cybertruck. "My wife and I just got to the @Tesla Showroom in Tampa and there is a line wrapping around! AdvertisementUpdate: My wife and I just got to the @Tesla Showroom in Tampa and there is a line wrapping around! Advertisement" $TSLA halo effect," Future Fund founder Gary Black wrote on X in response to a video of the lines at a Tesla showroom.

Persons: —, Tesla, Electrek, @NickGibbsIAG, Ps0hefMzuH, Matthew Donegan, Ryan, Donegan, " Donegan, bk31FmiYHJ — Matthew Donegan, @MatthewDR, Christian Artman, Artman, Toby Li, there’s, Javier Verdura, It's, Elon Musk, Gary Black Organizations: Service, Apple, Twitter, Electrek Locations: Tampa, Washington, Miami, Langley , British Columbia

☆ Tesla will only deliver 10 Cybertrucks at its big event this month, executive says
▼ + stars: | 2023-11-21 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Tesla plans to deliver 10 Cybertrucks at its November 30 event, an executive said. The company plans to deliver only 10 Cybertrucks during its delivery event later this month, Tesla global director of product design Javier Verdura said at a keynote address last week, the Mexican newspaper Milenio reported. Up until recently, it was unclear how many Cybertrucks Tesla planned to deliver at the event or how many it would be able to get into customers' hands this year. "We dug our own grave with Cybertruck," Musk said during Tesla's earnings call earlier in November. The Tesla CEO said the company aims to produce about a quarter million Cybertrucks per year by 2025.

Persons: Tesla, Elon Musk, —, Javier Verdura, Electrek, Musk, you've Organizations: EV, Service

☆ Tesla is hiring a bunch of designers so it can start selling humanoid robots by 2027
▼ + stars: | 2023-11-07 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Elon Musk's desire to launch Tesla's humanoid robot, Optimus, by 2027 may be closer to reality. Tesla's website shows more than 50 adverts for roles with Tesla Bot in the title. AdvertisementAdvertisementElon Musk has high aspirations for Tesla's humanoid robot, Optimus. Some of the roles listed, which are to be based in Palo Alto, California, include "Humanoid Controls Engineer, Tesla Bot," "Systems Design & Integration Engineer, Tesla Bot," and various other Tesla Bot engineers. But with some US-based competitors already testing humanoid robots in warehouses, Tesla may have some catching up to do.

Persons: Elon, Tesla, —, Elon Musk, Musk, Optimus, Apptronik, Jeff Cardenas Organizations: Service, Optimus, NASA, Robotics Locations: Palo Alto , California, . Texas, Oregon, Seattle

☆ Tesla Cybertruck prototypes appear to have fit and finish issues — but an expert says not to worry
▼ + stars: | 2023-10-08 | by ( Grace Kay | ) www.businessinsider.com time to read: +6 min

Some people have called out potential fit and finish issues with a Tesla Cybertruck prototype. Auto expert Sandy Munro said it's misleading to judge a vehicle's fit and finish off a prototype. AdvertisementAdvertisementProspective Tesla Cybertruck buyers shouldn't worry about some of the panel gaps and smears that have showed up in recent sightings of the electric pickup, auto expert Sandy Munro says. "That vehicle has probably gone through some fairly rigorous testing," Munro said, referencing Tapley's video. "The thing about stainless steel is it hangs around a while," he said.

Persons: Sandy Munro, —, Munro, Elon Musk, Frederic J . BROWN, Tesla, Electrek, — Munro, Musk, Dave Tapley, they'd, Insider's Tim Levin, Nora Naughton Organizations: Auto, Service, Getty, YouTube, Ford Locations: AFP, Northern California, California, Texas

☆ Elon Musk reportedly complained about the Cybertruck's design and wants it to be as precise as a Lego brick
▼ + stars: | 2023-08-25 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Elon Musk emailed Tesla staff this week to complain about the Cybertruck design, CNBC reported. Musk reportedly said: "Any dimensional variation shows up like a sore thumb." AdvertisementAdvertisementElon Musk sent an email to all Tesla staff on Wednesday complaining about the quality of the Cybertruck design, CNBC reported. On Wednesday, the same day he sent his email, Musk shared a photo of himself driving a "production candidate" Cybertruck. Musk said in May that the truck would be available for customers to buy by the end of this year.

Persons: Elon Musk, Tesla, Musk, that's Organizations: CNBC, Electrek, micron, Tesla

☆ Tesla hasn’t issued final pricing or specs for Cybertruck as Musk memo warns of manufacturing challenges
▼ + stars: | 2023-08-24 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

Tesla CEO Elon Musk has been promoting the company's long-delayed, sci-fi inspired Cybertruck on social media this week. The company also said in a shareholder deck that it was "working on equipment installation for Cybertruck production, which remains on track for initial deliveries this year." On Wednesday, Musk shared a post on X, formerly Twitter, with an image of the Cybertruck, saying, "Just drove the production candidate Cybertruck at Tesla Giga Texas!" Musk also sent an email to "everybody" at Tesla on Wednesday about the Cybertruck and the challenges of producing the vehicle. What Musk said in the email implies that Tesla is still struggling with Cybertruck quality.

Persons: Elon Musk, hasn't, Tesla, Musk, let's, Elon Organizations: U.S . Securities, Exchange Commission, Tesla, CNBC, Electrek Locations: Austin , Texas

☆ It looks like Tesla's Cybertruck might be a fingerprint magnet due to its stainless steel body
▼ + stars: | 2023-08-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Photos of the Tesla Cybertruck show the stainless steel truck appears to smudge easily. Stainless steel appliances are known to be magnets for fingerprints and smudges. The Tesla Cybertruck appears to smudge easily, photos of the electric pickup truck show. The vehicle's stainless steel body could make it prone to smudges and extra finger prints — an issue that is commonly seen with stainless steel appliances. The Cybertruck is the first stainless steel vehicle to be produced since DMC made the stainless steel DeLorean and later halted production in 1983.

Persons: smudge, Tesla, Getty, Tim Conn, Tesla's, Insider's Nora Naughton, Elon Musk Organizations: Twitter, DMC, DeLorean Locations: California, Texas

☆ Tesla's Supercharger Cables Are Too Short for Some Other Electric Cars
▼ + stars: | 2023-08-18 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

Tesla began to open some of its exclusive Supercharging stations to other electric vehicles earlier this year. But the cords are designed for Teslas, meaning that owners of some other cars need to use two spaces to plug in. There's just one kink that Elon Musk hasn't ironed out: The charging cables, which were designed for Teslas, aren't long enough to comfortably accommodate some other cars. That poses a problem when other electric cars, which may have their charging ports elsewhere, try to charge up. Tesla owners sometimes experience long lines at charging stations, particularly during popular travel times.

Persons: Tesla, There's, Elon, Marques Brownlee, Electrek, Dave Conner, Conner, Tom Moloughney Organizations: Morning, EV, YouTube, Ford, Hyundai Locations: New York

☆ It's official: The battery crunch is the new chip shortage
▼ + stars: | 2023-07-31 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

The chip shortage has ailed the auto industry since early in COVID, but a bigger issue is surfacing. Automakers are starting to see the impacts of the electric vehicle battery crunch. It's official: The battery crunch is the new chip shortage. The chip shortage is still impacting vehicle supply, experts say, but automakers are now having to reckon with the battery supply chains as an even bigger headwind. Challenges surrounding electric vehicle production and the battery supply chain are finally materializing for legacy automakers and impacting their bottom lines.

Persons: Jim Farley, Elon Musk, Tesla, Mary Barra, Barra, Oliver Blume Organizations: Ford, Morning, GM, Porsche, Tesla, Battery Locations: COVID, Canadian, EVs

☆ China is installing offshore wind turbines as tall as 30 Rock in the Taiwan Strait
▼ + stars: | 2023-07-29 | by ( Rebecca Harrington | ) www.businessinsider.com time to read: +2 min

China recently switched on a 16-megawatt offshore wind turbine in the Taiwan Strait. It's the largest, most powerful turbine in the world, at 499 feet tall with 404-foot blades. That dwarfs the size and capacity of American and European wind turbines currently in use. For comparison, the Block Island Wind Farm off the coast of Rhode Island has five wind turbines capable of generating 30 megawatts of electricity combined, which the company behind it says can power 17,000 homes. Workers install the world's first 16-megawatt offshore wind turbine at an offshore wind farm operated by China Three Gorges Corporation on June 28, 2023 in Pingtan Comprehensive Experimental Zone, Fujian Province of China.

Persons: IFLScience, Lyu, GREG BAKER, it's, China doesn't Organizations: Service, Privacy, Gorges Corporation, Workers, China Three Gorges Corporation, China News Service, Getty, GE Locations: China, Taiwan Strait, Rhode, Fujian Province, New York City, Pingtan, Taiwan, China's, Fujian, AFP

☆ It looks like Tesla's Cybertruck is missing 1 thing Ford nailed in its electric truck: A big frunk
▼ + stars: | 2023-07-24 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

It looks like frunk in the Ford F-150 Lightning, one of the Cybertruck's closest rivals, is way bigger. The Ford F-150 Lightning looks like it has one big edge over Tesla's upcoming Cybertruck. Judging by an unverified photo posted online and first spotted by the EV news website Electrek, the Cybertruck's frunk looks rather tiny, which may disappoint potential buyers. When I drove the F-150 Lighting last year, the truck's frunk easily handled multiple backpacks and duffels that I didn't want sliding around in the bed. Tesla's Texas factory just built its first Cybertruck, and deliveries are set to begin later this year — two years behind schedule.

Persons: Tesla, Ford, Hummer Organizations: Ford, Morning, EV, Rivian's, Ram, Silverado Locations: Tesla's Texas

☆ Look closely: Tesla workers appear to flash a hand signal for the Cybertruck
▼ + stars: | 2023-07-17 | by ( Grace Kay | ) www.businessinsider.com time to read: +2 min

Workers flashed a hand signal in a photo with Tesla's first Cybertruck built at its Austin factory. The photo shows several workers using their thumb and index finger to make an angular shape. Tesla workers appear to have created a hand signal in honor of the EV company's Cybertruck. Pictures of the workers' hand signals quickly took off on Reddit and in a Tesla Motors Club thread. Dozens of Tesla workers made the hand signal in a photo that was posted on the company's Twitter account.

Persons: Twitter Tesla, Elon Musk, Tesla, Franz von Holzhausen, Insider's Nora Naughton Organizations: company's, Tesla Motors, Twitter, Elon Locations: Austin, Austin , Texas, Texas

☆ Tesla's first Cybertruck finally rolls off the production line – 2 years late
▼ + stars: | 2023-07-16 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

It was made at the company's Texas factory and deliveries should start later this year. The Cybertruck was expected in 2021 before being delayed by alterations and tweaks. The Cybertruck has been a long time coming after a number of issues that delayed production by two years. "Sorry for the delay, we're finally going to start delivering production Cybertrucks later this year," Musk told investors in May. Musk's said Tesla planned to make about 250,000 Cybertrucks a year depending on demand, with sales expected to start later this year.

Persons: Tesla, Elon Musk's, it'd, we're, Musk, Musk's Organizations: Reuters Locations: Texas

☆ Is this a leaked video of Tesla's rumored futuristic self-driving passenger pod? You be the judge.
▼ + stars: | 2023-07-13 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

A Las Vegas content creator shared a video that says shows a prototype vehicle from The Boring Company. The leaked video appears to show a steering wheel with Tesla's insignia. Courtesy of Jacob OrthOrth's video looks roughly similar to early renderings of autonomous pods that The Boring Company shared in 2018. Since 2018, Musk has had little to say about The Boring Company's people-mover, but the billionaire has been known to announce surprise products every once and while. Representatives for Tesla and The Boring Company did not respond to a request for comment ahead of publication.

Persons: Elon Musk, Jacob Orth, Orth, he's, Tesla, Jacob Orth Orth's, Musk Organizations: Boring Company, Twitter, Las Vegas Convention Center, YouTube, Elon Musk's EV, The Boring, Tesla Locations: Vegas, Hawthorne , California

☆ Ford CEO says Tesla's Cybertruck is only for 'Silicon Valley people' and he's not threatened by it: 'I make trucks for real people who do real work'
▼ + stars: | 2023-06-21 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Ford's CEO said Tesla's Cybertruck is for "Silicon Valley people" not "real people who do real work." Jim Farley said Tesla's pickup truck won't compete with the F-150 Lightning. Ford CEO Jim Farley dismissed concerns that Tesla's Cybertruck could pose a threat to the automaker's F-150 Lightning electric pickup truck during an interview with CNBC's Jim Cramer on Tuesday. Up until recently, Ford has been one of few automakers to produce an EV pickup truck. Farley went on to describe Tesla's pickup truck as "like a cool high-end product parked in front of a hotel."

Persons: Tesla's Cybertruck, Jim Farley, Tesla, it's, CNBC's Jim Cramer, Farley, Ford, Kelley, Elon Musk, MotorTrend, Insider's Nora Naughton Organizations: Morning, Wired, Ford, CNBC Locations: America, Silicon

☆ Tesla is offering 3 years of free supercharging and big discounts to sell more cars by June 30
▼ + stars: | 2023-06-18 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +2 min

Tesla is offering big discounts on its Model S and Model X cars. It is also offering three years of free supercharging for customers who buy before June 30. It appears that Elon Musk's EV maker has cut $8,000 off both the Model X and Model S, as well as offering three years of free supercharging to customers who buy before June 30. The moves mean that customers could now get a 2023 Tesla Model S from about $83,000, according to Tesla's website, with the Model X at around $93,000. It then cut the Model X and Model S by $10,000 and $5,000 respectively.

Persons: Tesla, Musk, Electrek Organizations: Morning, Elon Musk's, EV, Ford, GM, Plaid, Tesla Locations: North America

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