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☆ As Tesla layoffs continue, here are 600 jobs the company cut in California
▼ + stars: | 2024-05-17 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

In an aerial view, brand new Tesla cars sit parked in a lot at the Tesla Fremont Factory on April 24, 2024 in Fremont, California. Faced with weakening demand for Tesla EVs and increased competition, the company has been slashing headcount since at least January. Previous filings revealed that Tesla would cut more than 6,300 jobs across California, Austin, Texas and Buffalo, New York. The WARN filing shows that to be the case, with many cut from the team at Tesla's Hanover Street location in Palo Alto. Read the latest WARN filing in California here:

Persons: —, Elon Musk, Tesla, Musk, Kato, CNBC's David Faber Organizations: Fremont Factory, California Employment Development Department, CNBC, Tesla, Tesla's, American, Twitter Locations: Fremont , California, California, Fremont, Palo Alto, Austin , Texas, Buffalo , New York, Tesla's Hanover, China, robotaxis, U.S

☆ Tesla quietly spent $2 million on a technology Elon Musk previously trashed as a 'fool's errand'
▼ + stars: | 2024-05-08 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

Read previewTesla spent around $2 million on lidar, a technology used in EVs that Elon Musk has previously referred to as a "fool's errand" and that any carmakers relying on it are "doomed." But according to a recent earnings report from lidar manufacturer Luminar, Tesla was its largest customer last quarter and "comprised more than 10%" of its revenue during the period. The CEO said Tesla EVs only rely on camera-based vision systems for driver-assist features. The Tesla CEO said he personally ran a project at SpaceX to create lidar sensors to help navigation. Last year, Tesla recalled over 2 million vehicles after regulators said its Autopilot system didn't protect enough against drivers misusing it.

Persons: —, Tesla, Elon Musk, Luminar, Lidar, lidar, Musk, Elon Musk's Organizations: Service, Business, Systems, SpaceX, Tesla, Luminar, Traffic Safety Administration, US Department of Justice Locations: EVs, Tesla's

☆ Tesla must provide NHTSA with Autopilot recall data by July or face up to $135 million in fines
▼ + stars: | 2024-05-07 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Since the recall, at least 20 Tesla vehicles have been involved in crashes in which the system was thought to be in use, according to a filing on the NHTSA's website. The "recall remedy" probe follows a three-year investigation by the agency that found safety issues with Tesla Autopilot contributed to at least 467 collisions and 14 deaths from January 2018 through August 2023. The NHTSA is seeking detailed crash data from the electric vehicle maker since the agency issued the recall update on Autopilot, including data and video stored in or streamed from its cars and retained by the company. The company hasn't disclosed how many jobs in its Autopilot and vehicle-safety engineering teams may have been cut. For about a decade, CEO Elon Musk has been promising that Tesla is on the cusp of a self-driving breakthrough.

Persons: Tesla, Autosteer, They're, Elon Musk, Musk Organizations: Traffic, Administration, NHTSA Locations: U.S

☆ These are the wildest EVs unveiled at China's biggest auto show
▼ + stars: | 2024-05-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIf you need more evidence that China's EV market is booming, just look at the country's biggest car show. VCG/VCG via Getty ImagesBy far the biggest name in China's EV market is BYD, the Warren Buffett-backed firm that is probably giving Elon Musk sleepless nights. Xiaomi brings its Tesla rivalJADE GAO/Getty ImagesOne of the biggest draws of the auto show was the SU7, an electric SUV built by smartphone maker Xiaomi. JADE GAO/Getty ImagesThe number of companies trying to make it in China's EV market — at least 123, according to one auto consultant — has seen some firms branch out in unexpected directions.

Persons: —, PEDRO PARDO, Warren Buffett, Elon, BYD, Tesla, Xiaomi, JADE GAO, It's, Mercedes Organizations: Service, Volkswagen, Mercedes, Business, EV, Getty, China's EV, VW Locations: Beijing, China's, China

☆ Goldman sees 10% downside for Tesla even after China self-driving progress
▼ + stars: | 2024-04-30 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Tesla shares could cool following Monday's rally as obstacles remain to achieving full self-driving technology in China, according to Goldman Sachs. But Goldman analyst Mark Delaney has a $175 price target, which implies a 9.8% downside from the stock's last closing price. "Importantly, Tesla will also need to navigate government rules on data access, localization, and AI which could complicate technology sharing within/outside of China." Tesla shares opened down more than 3% on Tuesday. Despite Monday's rally, Tesla stock is still down almost 22% in 2024 as the company contends with sales challenges.

Persons: Goldman Sachs, Goldman, Mark Delaney, Delaney, Tesla Locations: China

☆ China's Xiaomi will price its Tesla EV rival under $69,400, CEO says ahead of Thursday launch
▼ + stars: | 2024-03-25 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

On Thursday, Xiaomi will officially launch the SU7 electric vehicle and begin taking orders. Xiaomi CEO Lei Jun on Monday teased the price of the Chinese firm's first electric vehicle ahead of its official launch this week. Xiaomi Group President Weibing Lu told CNBC previously that the company is targeting the premium segment of the electric car market. The EV market is in the midst of a price war which was sparked by Tesla at the end of 2022. "Three years ago, I announced that Xiaomi was going to enter the EV market.

Persons: Xiaomi, Lei, Lei Jun, Weibing Lu, Li Auto, Tesla Organizations: Weibo, Xiaomi, CNBC, stoke, EV Locations: Hefei, Anhui Province, China, Xiaomi

☆ Hybrids are more popular than ever as shoppers cool on EVs
▼ + stars: | 2024-03-13 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Fewer new-car shoppers are considering EVs for their next vehicle, according to JD Power, with shoppers citing a lack of access to charging infrastructure as a main reason for ruling out EVs. Brands that have leaned into hybrids saw better sales results in February. "Hybrids are just rockin,'" Toyota Motor North America's sales chief David Christ told Automotive News after it released its sales results last week. The Toyota RAV4 SUV is one of the more popular hybrids on dealer lots. Among American brands, Ford notched a 31.5% increase in hybrid sales, as these vehicles lured more new customers to the Blue Oval.

Persons: —, Power, David Christ, Ford, Jim Baumbick Organizations: Service, Tesla, Business, Brands, Toyota, Automotive, Blue, Ford

☆ Look closely: Tesla's video celebrating a Mustang EV using its Supercharger hides a potential pain point for other drivers
▼ + stars: | 2024-03-04 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

15,000+ Tesla superchargers available for non-Teslas with an adapter starting todayOn the downside: Did you catch it? Many automakers have switched to Tesla's charging technology over the past year. Tesla's charging network is one of its biggest advantages over EV rivals — from faster and more accessible charging stations to more amenities. Non-Tesla EV owners can charge at updated Superchargers that have a Magic Dock adapter. On Thursday, Tesla opened V3 chargers to Ford owners who can use a NACS adapter supplied by Ford, according to Tesla's website.

Persons: —, Tesla, Marques Brownlee, Brownlee, ITuxtLsDju — Marques Brownlee, Elon Musk Organizations: Service, Ford, Business, Ford EV, Tech, Tesla EV, EV, — Locations: New York

☆ Cybertruck engineer addresses claims the Tesla EVs rust in the rain
▼ + stars: | 2024-02-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

One owner even said they'd been warned when the truck was delivered that it could rust in the rain. "The advisor specifically mentioned the Cybertrucks develop orange rust marks in the rain and that required the vehicle to be buffed out," a member of the Cybertruck Owners Club forum wrote. Stainless is reactive and free iron that sits on it will rust," the Cybertruck engineer said. Demaree said the latter method appeared to do the trick but advised Cybertruck owners to be careful using the polish on the truck. Tesla delivered its first dozen on November 30, and several celebrities have been spotted with their own Cybertrucks in the months since.

Persons: —, Wes Morrill, they'd, Morrill, Tesla, Elon Musk, Justin Demaree, Guy, he'd, Demaree, It's Organizations: Service, Business, Cybertruck Owners, Tesla, YouTube, Delorean

☆ A Cybertruck driver documented his 1340-mile road trip — and the issues he ran into with the Tesla EV
▼ + stars: | 2024-01-14 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

AdvertisementYouTuber Dennis Wang is one of the first drivers to document a cross-country road trip in the much-hyped Cybertruck, just weeks after the first vehicles were shipped to customers. But he ran into some issues along the way — including difficulties with charging and a glitch in Tesla's infotainment system. He also said that closing the tonneau, the cover that spans the back of the truck, helped improve the Cybertruck's range. But despite the hiccups along the way, Wang enjoyed the experience, especially the spacious cabin and comfort of the vehicle. "It's a fantastic truck," Wang said.

Persons: Dennis Wang, Tesla, —, Wang, Joshua Tree, he's, Wang isn't, Dennis Wang Plus, YouTuber Organizations: Service, YouTube, Bloomberg Locations: Austin , Texas, California, Texas

☆ Some Tesla Cybertruck reservation-holders were underwhelmed by Elon Musk's big launch party – but many say they'll still buy one
▼ + stars: | 2023-12-03 | by ( Grace Kay | Nora Naughton | ) www.businessinsider.com time to read: +5 min

It lasted 30 minutes and fans later found the truck had a lower range and higher price on their own. AdvertisementAfter a four-year wait, the official Cybertruck launch party lasted about 30 minutes and left some order-holders wanting more. CEO Elon Musk stood in the bed of the Cybertruck listing off its specs – many of which had been leaked ahead of the launch . Following the launch party, all of the specs and prices for the three Cybertruck variations were posted to Tesla's website. AdvertisementThe Cybertruck launch was always going to be a difficult tightrope for Musk to walk , said Martin French, managing director at automotive consultancy Berylls.

Persons: —, Elon Musk, Zack Nelson, Christopher Bowe, there's, Bowe, Nelson, we'd, Elon, Martin French, doesn't, Tesla, Matthew Donegan, Ryan, Donegan, Eric Locke, he's, Locke Organizations: Service, Porsche, Ford, Business, YouTube, nab

[1/3] Tesla's new Cybertruck is shown on display at a Tesla store in San Diego, California, U.S., November 20, 2023. Cybertruck, Tesla's first new model in nearly four years, is critical to its reputation as a maker of innovative vehicles. "We dug our own grave with Cybertruck," Musk said last month, warning that it would take a year to 18 months to make the vehicle a significant cash flow contributor. The billionaire has said Tesla was likely to reach a production rate of roughly 250,000 Cybertrucks a year in 2025. Tesla has faced "enormous challenges in reaching volume production" with the Cybertruck because of its new technology and design, Musk said.

Persons: Mike Blake, Elon Musk, Tesla's, Musk, Tesla, Eric Noble, Rivian, R1T, Rivian's R1T, Ford's, Seth Goldstein, Paul Waatti, Akash Sriram, Hyunjoo Jin, Sayantani Ghosh, Bill Berkrot Organizations: REUTERS, New York Times, Dodge, Ford, General Motors, Hummer, Morningstar, Thomson Locations: San Diego , California, U.S, Bengaluru, Hyunjoo, San Francisco

☆ Tesla is planning a 24-hour diner and drive-in theater. Check out the latest image.
▼ + stars: | 2023-11-25 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Tesla plans to open a futuristic diner and drive-in theater in California. AdvertisementNearly six years after Elon Musk first announced his plans for a futuristic Supercharger station, Tesla has finally broken ground on the project. Last year, Tesla submitted plans to the city of Los Angeles for a charging station equipped with a 24-hour diner and drive-in theater. By reimagining charging stations, Tesla and other electric-car makers could combat EV adoption hesitancy. To date, several Tesla charging stations already include several amenities, including lounges, vending machines, and Tesla merchandise.

Persons: Tesla, —, Elon Musk, Musk, Forbes, Tesla hasn't Organizations: Service, Elon, Santa Monica, Bloomberg, Tesla EV Locations: California, LA, Los Angeles, Hollywood, North America

Electric vehicle sales are expected to hit a record 9% of all passenger vehicles in the U.S. this year, according to Atlas Public Policy. That will be up from 7.3% of new car sales in 2022. These figures include both battery electric vehicles and plug-in hybrid EVs. But even as U.S. EV market share grows steadily, hurdles still stand in the way for some car buyers considering electric. Several U.S. states have set target dates by which they expect vehicle sales to be majority zero-emissions.

Persons: EVs, Tesla, Kelley, Alexa St, John Organizations: Atlas Public, EV, American, Ford Motor Co, General Motors, AP Locations: U.S, China, Germany, Norway, California, Washington, New Jersey, Press, ___

☆ The US government won’t quit Elon Musk
▼ + stars: | 2023-11-20 | by ( Zachary Wolf | Analysis Zachary B. Wolf | ) edition.cnn.com time to read: +5 min

CNN —Condemning Elon Musk is easy. On Friday, the White House joined the uproar over Musk’s endorsement of an antisemitic conspiracy theory on X. On Monday, the White House announced it would be joining X rival Threads, which is owned by Meta, as backlash to Musk intensifies. Musk faced backlash a year ago when he had complained about the cost of that service. The White House bragged early this year that after months of negotiations, Tesla would open up part of its charging network to non-Tesla EVs.

Persons: Elon, Andrew Bates, Bates, Musk, ”, David Sanger, Eric Lipton, ” John Kirby, ” Kirby, Kirby, CNN’s Kristin Fisher, Pat Ryder, Lloyd Austin, He’s, CNN’s Chris Isidore, Tesla Organizations: CNN, NASA, Pentagon, Twitter, White House, Warner Bros, Meta, New York Times, White, SpaceX, National Security, House, Reliant, SpaceX The, Starlink, ” Locations: Ukraine

☆ A reporter drove a Rivian to 126 EV fast-chargers in LA and found out-of-order signs on dozens of them
▼ + stars: | 2023-11-16 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

A reporter with The Wall Street Journal visited over 100 non-Tesla fast-charging stations across LA. She said 27% of the 126 fast-charging stations she visited did not work for various reasons. Tesla will allow cars from other brands to use its charging stations in the next year. During his drive, he stopped at three different charging stations before he was able to find one that was compatible with his car. The move will make electric vehicle charging more widely available to EV owners and may help address range anxiety among some non-Tesla owners.

Persons: —, Joanna Stern, Stern, Axios, Dan Primack, Primack Organizations: Wall Street Journal, Service, Tesla, US, Tesla EV, Wall Street, Consumer, Ford, General Motors, Toyota, Hyundai, EV Locations: LA, Los Angeles, Boston, New York City

☆ Tesla to double its components imports from India - Trade Minister
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowBENGALURU, Nov 14 (Reuters) - U.S. electric car maker Tesla Inc (TSLA.O) is planning to double the number of components it imports from India, Indian trade minister Piyush Goyal said on Tuesday through a post on social media platform X. "Proud to see the growing importance of Auto component suppliers from India in the Tesla EV supply chain. It is on its way to double its components imports from India," Goyal posted on X, earlier called Twitter, after visiting Tesla's manufacturing facility at Fremont, California. He was, however, unable to meet Tesla chief Elon Musk during his visit to the plant, Goyal added. He said in September Tesla was aiming to source components worth between $1.7 billion and $1.9 billion from India this year, having bought $1 billion of components last year.

Persons: Mike Blake, Piyush Goyal, Goyal, Elon Musk, Tesla, Ashna Teresa Britto, Rashmi Aich Organizations: Tesla Inc, REUTERS, Tesla, Reuters, Thomson Locations: Costa Mesa , California, U.S, India, Fremont , California, Bengaluru

☆ Tesla will sue you for $50,000 if you try to resell your Cybertruck in the first year
▼ + stars: | 2023-11-12 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Tesla has released the sale terms for its long-awaited Cybertruck ahead of its 30 November release. AdvertisementAdvertisementCustomers set to receive the first Tesla Cybertrucks this November will be prevented from reselling their vehicles during the first year, according to Tesla's terms and conditions. Tesla added a section titled "For Cybertruck Only" to its Motor Vehicle Order Terms, which laid out the new rules. If Tesla does not want to purchase the vehicle, it may then agree to let the customer sell it to someone else. First announced in 2019, the Cybertruck is Tesla's first new product in years, and it is expected to shake up the electric pickup truck market.

Persons: Tesla, Musk, —, Elon Musk Organizations: Service, Fast Company Locations: @ElectrifyExpo, Austin

☆ Ford to add more Tesla EV chargers to its network
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

Oct 30 (Reuters) - Ford Motor (F.N) said on Monday it would add more of Tesla's Superchargers to its electric-vehicle charging network, higher than previously forecast, as automakers tap into the EV leader's sprawling charger network to expand the range of their cars. Ford will now add over 15,000 of Tesla's Superchargers to its network, up from its earlier projection of 12,000 chargers. These three providers would bring more than 10,000 new chargers to the network, including more than 550 new DC fast chargers. BlueOval combines multiple charging networks to provide access to the largest North American public charging network offered by automotive manufacturers. The development comes months after Ford struck a deal with Tesla to allow EV owners gain access to the biggest network of high-speed Superchargers in the United States in early 2024.

Persons: Ford, BlueOval, Tesla, Abhijith Ganapavaram, Shilpi Majumdar Organizations: Ford, EV, U.S, Francis Energy, Ford EV, Shell, Thomson Locations: North America, Canada, America, United States, Bengaluru

☆ BP buys $100 million worth of Tesla chargers
▼ + stars: | 2023-10-26 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +1 min

CNN —Oil and gas company BP has agreed to purchase $100 million worth of electric vehicle chargers from Tesla. This marks the first time Tesla has ever sold chargers to another company, according to an announcement from BP. BP will begin installing the chargers next year, but no specific number of chargers was mentioned in the announcement. These chargers won’t look like other Tesla chargers, though. BP Pulse, BP’s EV charging business, operates 27,000 charging points currently and has announced plans for rapid expansion.

Persons: Tesla Organizations: CNN —, BP, Tesla, CCS, Amoco, Hertz, EV Locations: America

☆ $20,000 repair bills and other hidden costs that could sneak up on EV buyers
▼ + stars: | 2023-10-21 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

The switch to electric vehicles is still hampered by the high cost compared to gas cars. The higher upfront costs don't consider several less obvious costs that can hit after buying an EV. AdvertisementAdvertisementThose premiums are driven by higher repair costs. According to Mitchell, a collision repair software company, the average repair cost for a non-Tesla EV is $269 higher than the average for all vehicles. If people interested in used EVs are worried about replacing an expensive battery, the resale value will take a big hit.

Persons: —, Johnny Bacigalupo, Sandy Munro, Bankrate, Mitchell, Mark Matousek, Kevin Tynan, Davis, Power Organizations: Service, Edinburgh, EV, Washington Post, Insurance, Anderson Economic Group, Ford, Bloomberg, Toyota, University of California Locations: Scotland, skyrocket, Canada, Edmunds

☆ Toyota to adopt Tesla EV charging standard from 2025
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: 1 min

A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su/File Photo Acquire Licensing RightsOct 19 (Reuters) - Toyota Motor (7203.T), the world's largest automaker by sales, said on Thursday it had signed an agreement to adopt Tesla's (TSLA.O) North American Charging Standard (NACS) on its battery-electric vehicles (BEVs) beginning 2025. Reporting by Yuvraj Malik in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Edgar Su, Yuvraj Malik, Devika Organizations: Toyota, Tokyo, REUTERS, Thomson Locations: Tokyo, Japan, Bengaluru

☆ It looks like Tesla might offer Cybertruck colors for people who don't want plain stainless steel
▼ + stars: | 2023-10-11 | by ( Tim Levin | ) www.businessinsider.com time to read: +2 min

Tesla launched colored wraps for the Model 3 and Model Y, indicating it could do the same for its truck. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementTesla fans have been wondering whether the upcoming Cybertruck would be offered in any colors except for bare stainless steel. Elon Musk's car company for the first time introduced colored wraps for its Model Y SUV and Model 3 sedan. AdvertisementAdvertisementAnd, as anyone with a constantly smudgy fridge knows well, stainless steel can be a nightmare to keep clean.

Persons: Tesla, —, Elon Organizations: Service, DeLorean, Toyota

☆ Gas prices are less of a factor behind consumers switching to EVs, Barclays says
▼ + stars: | 2023-10-06 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The Barclays study focuses on consumers purchasing Tesla EVs rather than other makes. "[I]n previous years, consumers who bought EVs were spending more on gas prior to their purchase than consumers in recent years," Zhu said. "This suggests that new EV buyers are willing to buy an EV even at lower levels of gas expenditure, and that EV demand will stay higher than before even if gas prices decline." "Our U.S. Barclays credit card data show consumers with lower gas expenditures are now more willing to buy EVs than previously," Zhu said. "In recent years, EV buyers were already spending less on gas prior to their EV purchase than EV buyers in previous years."

Persons: Joy Zhu, Tesla, Zhu, — CNBC's Michael Bloom Organizations: Barclays, U.S, EV, Volkswagen, Volvo Locations: Germany

☆ Hyundai Motor to adopt Tesla EV-charging standard from 2024 in US
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSEOUL, Oct 5 (Reuters) - Hyundai Motor Co (005380.KS) said on Thursday it has decided to adopt Tesla Inc's (TSLA.O) electric vehicle (EV) charging technology in the United States and Canada. That will give Hyundai EVs with NACS ports access to more than 12,000 Tesla Superchargers across the United States, Canada, and Mexico, the company said. Owners of existing and future Hyundai EVs with the current CCS will have access to the Tesla Supercharging Network starting in the first quarter of 2025. In June, Hyundai Motor said it would consider making its vehicles more readily compatible with the NACS charging system. Tesla's NACS is widely available, with the U.S. Department of Energy saying they make up about 60% of the fast chargers in the United States.

Persons: Andrew Kelly, Tesla, Hyundai's, Elon, company's superchargers, Jose Munoz, NACS, Heekyong Yang, Christian Schmollinger Organizations: Hyundai Kona, New York, REUTERS, Rights, Hyundai, Ford, General Motors, Nissan, Hyundai Motor, Hyundai Motor's, Global, CCS, Tesla Supercharging Network, U.S . Department of Energy, Volkswagen, Kia Corp, BMW, Thomson Locations: Manhattan , New York City, U.S, Rights SEOUL, KS, United States, Canada, Mexico

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