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"This industry is a trillion-dollar industry," said Avinash Rugoobur, Arrival's president, of the surging electric-vehicle sector. "What we're looking at right now at Arrival is a cusp of a revolution of that industry," he said. We took a look around one of Arrival's microfactoriesArrival's research-and-development plant in the Oxfordshire countryside is certainly futuristic. Components that go into Arrival's vehicles have been designed to be built in a microfactory. "The company's microfactory structure is unique and a huge advantage versus its competitors with a strong management team running operations," he said.
Persons: It's, Elon, Denis Sverdlov, Uber, Tesla, Avinash Rugoobur, Rugoobur, Michael Cogley, Giuseppe Napo Montano, Arrival's, Napo, Rob Thompson, Thompson, haven't, Jeffrey Osborne, Cowen, Osborne, Mercedes, Dan Ives Organizations: Kia, Hyundai, Nasdaq, UPS, Automation, General Motors, Toyota, Mazda, Airbus, Ford Locations: Gloucestershire, Oxfordshire, Russian, Rugoobur, Fremont , California, Shanghai, Its, Europe, Alabama, Charlotte , North Carolina, Arrival's North Carolina, Banbury , England, United States
Tesla begins deliveries of its new Model S Plaid
  + stars: | 2021-06-11 | by ( Lora Kolodny | ) www.cnbc.com + 0.00   time to read: +3 min
Previously, Musk had promised the Tesla Model S Plaid would deliver acceleration from 0 to 60 mph in under 2 seconds, and he crowed about "breaking the 2-second barrier," repeatedly on Thursday. But he also caveated some of his own sweeping safety claims by noting that NHTSA has not yet rated the Model S Plaid for safety. On Thursday, Musk offered no significant details on the Model S Plaid battery pack, saying simply, "We have an all-new battery pack." He noted that the Model S Plaid can get 187 miles of range in just 15 minutes plugged into a Tesla Supercharger. Musk also touted myriad changes to the Model S Plaid interior, most of which were previously disclosed.
Persons: Tesla, Franz von Holzhausen, Elon Musk, von Holzhausen, Musk Organizations: Plaid, Porsche, Volvo, NHTSA, Model Locations: Fremont , California
Take a look at some of the biggest movers in the premarket:Snowflake (SNOW) – Snowflake shares fell 3.7% in premarket trading, following the cloud computing company's presentation of financial targets at its Investor Day meeting. Chewy (CHWY) – Chewy earned 9 cents per share for its latest quarter, compared to consensus forecasts for a 3 cents per share loss. Royal Caribbean lost 1.3% in premarket trading. Callaway slid 3.7% in premarket trading, while Apollo surged 11.9%. Livent (LTHM) – The lithium power specialist's shares fell 2% in the premarket after announcing a public offering of 13 million shares at $17.50 per share.
Persons: Snowflake, – Chewy, Chewy, Buster's, Dave, Bernstein, – Tesla, Goldman Sachs, – Callaway, GrubHub, Callaway Organizations: Vertex Pharmaceuticals, Royal, Royal Caribbean, UBS, Food, AMC Entertainment, GameStop, Clover Health, AMC, Plaid, American Airlines, Airlines, Aerospace, Callaway, GrubHub, Apollo Medical, Apollo Locations: Royal Caribbean, Fremont , California, ELY, Israel
Top analyst Toni Sacconaghi on his concerns about Tesla's valuation
  + stars: | 2021-06-11 | by ( ) www.cnbc.com sentiment -0.79   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTop analyst Toni Sacconaghi on his concerns about Tesla's valuationTesla began deliveries of its new Model S Plaid, a high-performance version of the company’s flagship electric sedan, on Thursday with a livestream event at the company’s test track near its factory in Fremont, California. Toni Sacconaghi, Bernstein senior research analyst who covers U.S. IT hardware, joined "Squawk Box" on Friday to discuss.
Persons: Toni Sacconaghi, Tesla, Bernstein Organizations: Plaid Locations: Fremont , California
Watch the new Tesla Model S Plaid rip to 100 mph in 5 seconds
  + stars: | 2021-06-11 | by ( Tim Levin | ) www.businessinsider.com + 0.00   time to read: +2 min
Tesla kicked off deliveries of its Model S Plaid on Thursday. Tesla has started delivering its Model S Plaid, a $130,000 super sedan that Elon Musk promises is the "quickest production car ever made of any kind." The standard Model S isn't a slow car by any means, but the Plaid kicks things into supercar territory. In one video posted to Twitter, the Plaid hits 60 mph in a bit over two seconds and reaches 100 mph in around five before hitting a top speed of 104 mph. Another video does a better job showing exactly how quickly the Plaid sprints to 60 mph and then to 100 mph.
Persons: Tesla, Elon Musk, , We've, Musk, It's Organizations: Plaid, Elon, Twitter Locations: Fremont , California
Tesla begins deliveries of new Model S Plaid
  + stars: | 2021-06-11 | by ( Natalie Zhang | ) www.cnbc.com sentiment -0.81   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla begins deliveries of new Model S PlaidTesla has finally unveiled its new Model S Plaid vehicle, the high-performance version of its flagship car. CEO Elon Musk presented the car and walked through the details at the company's test track in Fremont, California on Thursday.
Persons: Tesla, Plaid Tesla, Elon Musk Organizations: Plaid Locations: Fremont , California
A Tesla logo on a Model S is photographed inside of a Tesla dealership in New York, U.S., April 29, 2016. "The Model S has not been changing a lot in terms of looks over the past almost decade. Musk canceled another variant, Model S Plaid+, which would have had a 33% higher driving range than the Model S Plaid and used advanced battery technology, known as 4680 cells. "The Model S Plaid is definitely intended to help reduce the migration of current Tesla owners out of Tesla," said Ed Kim, vice president at consultancy AutoPacific. Musk has called the Model S Plaid "the fastest accelerating car ever."
Persons: Lucas Jackson, Elon Musk, Tesla, Jessica Caldwell, Edmunds, Ed Kim Organizations: REUTERS, Tesla, Porsche, Mercedes, Benz, Lucid Motors, Plaid, Twitter, Model, Thomson Locations: New York, U.S, Fremont , California
Take a look at some of the biggest movers in the premarket:RH (RH) – RH surged 8.4% in premarket trading after it reported quarterly profit of $4.89 per share, above the $4.10 a share consensus estimate. Signet Jewelers (SIG) – Signet surged 6.3% in premarket trading after it trounced a $1.27 consensus estimate with quarterly earnings of $2.23 per share. Clover Health (CLOV), Wendy's (WEN), WWE (WWE), Clean Energy Fuels (CLNE) – The newest of the so-called "meme stocks' remain on watch today, as they pick up social media interest. Clean Energy Fuels – a California-based natural gas provider – rallied 5.6% in premarket trading after a 31.5% surge Wednesday. Verint Systems (VRNT) – Verint Systems reported quarterly profit of 44 cents per share, beating the 35 cents a share consensus estimate.
Persons: – RH, Matt Furlong, Mike Recupero, WEN, Wendy's, – Jefferies, Goldman Sachs, Goldman, Oppenheimer, Fastly, – Tesla, Verint Organizations: Signet Jewelers, Signet, GameStop, Amazon, Securities and Exchange Commission, Clover Health, WWE, Energy Fuels, Clean Energy Fuels, , Northern Star, Boeing, – United Airlines, Max, Bloomberg, United, Plaid, Verint Systems, Systems Locations: California, Fremont , California
The home furnishings retailer formerly-known as Restoration Hardware also reported better-than-expected revenue and raised its full-year outlook. Signet Jewelers (SIG) surged 6.3% in premarket trading after it trounced a $1.27 consensus estimate with quarterly earnings of $2.23 per share. Signet raised its full-year revenue forecast as well. Boeing shares added 1% in premarket trading. Verint Systems (VRNT) reported quarterly profit of 44 cents per share, beating the 35 cents a share consensus estimate.
Persons: Verint, WATERCOOLER Organizations: Signet Jewelers, SIG, Signet, United Airlines, Boeing, Max, Bloomberg, United, Plaid, Verint Systems Locations: Fremont , California
A Tesla logo on a Model S is photographed inside of a Tesla dealership in New York, U.S., April 29, 2016. The launch of the Model S Plaid, which has already been showcased online, has faced delay and some controversy over an expected airplane-style yoke steering wheel. Musk canceled another variant, Model S Plaid+, which would have had a 33% higher driving range than the Model S Plaid and used advanced battery technology, known as 4680 cells. "The Model S Plaid is definitely intended to help reduce the migration of current Tesla owners out of Tesla," said Ed Kim, vice president at consultancy AutoPacific. Musk has called the Model S Plaid "the fastest accelerating car ever."
Persons: Lucas Jackson, Elon Musk, Musk, Tesla, Jessica Caldwell, Ed Kim Organizations: REUTERS, Tesla, Porsche, Mercedes, Benz, Lucid Motors, Tesla's U.S, Volvo, Model, Plaid, Edmunds, Thomson Locations: New York, U.S, Fremont , California
Elon Musk says Tesla officially canceled the Model S Plaid Plus
  + stars: | 2021-06-07 | by ( Lora Kolodny | ) www.cnbc.com sentiment -1.00   time to read: +2 min
Tesla has canceled the most expensive variant of its flagship sedan, the Model S Plaid Plus, according to a tweet from CEO Elon Musk on Sunday. In March, Tesla raised the price of the Model S Plaid Plus by $10,000 bringing it to about $150,000. The option to order the Model S Plaid Plus variant was removed from Tesla's website around the last week of May, according to a CNET report. Musk previously planned a "delivery" ceremony at the Tesla factory in Fremont, California for the Model S Plaid on June 3. It produced none of the higher-priced Model S or Model X vehicles during the first quarter of 2021, even though Musk had said production was underway during a 2020 fourth-quarter earnings call.
Persons: Tesla, Elon Musk, Musk, we've Organizations: Model, Plaid, Tesla, Twitter, CNET Locations: Fremont , California, North America
Tesla has joined a project to build one of Europe's largest electric vehicle charging hubs. Tesla has joined a project to build one of Europe's most powerful charging hubs capable of powering 26 electric vehicles at once. The Oxford hub will be made up of 14 fast chargers and a further 12 Tesla Superchargers. Tesla's superchargers will form part of the charging hub project FastnedTesla CEO Elon Musk has also recently shown interest in the UK. Musk also revealed this week that Tesla could build a new factory in Russia, saying the company was close to establishing a presence there.
Persons: Tesla, Musk, Michiel Langezaal, Tesla's, Elon Musk Organizations: Elon, Tesla, Pivot, EDF, The Telegraph, Investment Locations: Oxford, Amsterdam, Europe, Netherlands, Germany, Fremont , California, Nevada and New York, Shanghai, China, Berlin, Russia
Elon Musk promises the Tesla Model S will return June 3
  + stars: | 2021-05-20 | by ( Chris Isidore | Cnn Business | ) edition.cnn.com sentiment -1.00   time to read: +1 min
New York (CNN Business) The Model S is finally coming back. Since then, CEO Elon Musk has been promising the return of the Model S was around the corner, saying as recently as April that deliveries would resume in May. Finally, in a tweet early Thursday, Musk announced a Model S "delivery event" to be held June 3 at Tesla's Fremont, California, factory. Tesla had paused deliveries on the Model S, as well as the Model X SUV after the company ran through the available inventory of 2,000 of those vehicles in January. Tesla TSLA Insteadconcentrated on building as many of its lower priced Model 3 sedans and Model Y SUVs as possible.
Persons: Tesla hasn't, Elon Musk, Musk, Tesla Organizations: CNN Locations: York, Tesla's Fremont , California
Tesla plans to deliver Model S Plaid in June after months of delays
  + stars: | 2021-05-20 | by ( Lora Kolodny | ) www.cnbc.com + 0.00   time to read: +3 min
Specifically, he wrote: "Tesla Model S Plaid delivery event June 3 at our California factory. Musk and Tesla first promoted and promised Plaid versions of the Model S, Model X SUV and Tesla Roadster in September 2019. Tesla drew criticism when it revealed the interior of the Model S Plaid during an earnings update in January this year. Barry Stuppler, a longtime Tesla owner who ordered his first Model S in 2014, spoke with CNBC about his long wait for the new version of the Model S.He ordered a Model S Plaid in January 2021, with plans to give his older Model S to his son. Stuppler said he loves his old Tesla Model S and never needing to get gas.
Persons: Elon Musk, Tesla, Musk, Joe Rogan, Barry Stuppler, Stuppler, Mercedes EQS Organizations: Plaid, Tesla Roadster, Model, CNBC, Tesla, Stuppler, Benz, Porsche, Audi Locations: Fremont , California, California
The company will pay a $750,000 fine and fund a solar roof project in a community with poor air quality. The EPA in April accused Tesla of failing to report emissions from its cars' coatings. Tesla has been slapped with a $750,000 fine for violating air quality regulations more than 30 times over the last several years at its Fremont, California plant, state officials announced Friday. Tesla agreed to a $1 million penalty, but will only pay $750,000 directly to the agency's operating fund. In April, the US Environmental Protection Agency accused Tesla of failing to report emissions generated by its car-coating operations.
Persons: Tesla, Jack Broadbent, Read, Elon Musk Organizations: EPA, Bay, Air Quality Management, Air, Mercury News, US Environmental Protection Agency Locations: California, Fremont , California, Fremont, Bay
An increased risk of violenceIn the U.S., there are 1.4 million Asian American Pacific Islander (AAPI) health care workers, who comprise 8.5% of the country's essential health workers, according to 2020 data from New American Economy, a research organization specializing in immigration policies. Health care workers of all races have risked their lives during the pandemic, despite their increased risk of workplace violence compared to other professions, according to the Occupational Safety and Health Administration. But she worries that non-union health care workers experiencing violence can't advocate for a safer workplace as strongly. (According to a New York Times analysis of government data, roughly 17% of nurses and 12% of other health workers are unionized.) But under current conditions, many AAPI health care workers are facing racism at work while still trying to provide the best care for their patients, regardless of whether they're the ones spewing it.
Persons: Helen Nguyen, who's, Nguyen, he'd, weren't, they've, Michelle Gutierrez, she's, Gutierrez, Vo, it's, I've, that's, Valerie Francisco, Tess Brillante Organizations: American Pacific, New, Occupational Safety, Health Administration, National Nurses United, New York Times, San Francisco State University, Pilipino Association of Workers and Immigrants, U.S . House, Health Care, Social Service Workers, Health, Education, Labor, NBC, Facebook, Twitter Locations: Albuquerque , New Mexico, America, Atlanta, U.S, New American, Fremont , California, Santa Clara County , California, Santa Clara County
About 60 percent of day camps were open. But for this summer, camp directors from Connecticut to California told NBC News that not only are they open, they also have booming waitlists. Campers at Winding Trails Summer Day Camp in 2019. Her son and daughter did not go last summer, and this year, they will go to overnight camps. Misty Gregg's son, Torin, and daughter, Amira, did not get to go to summer camp last year.
Persons: Camp, Randy Grayson, ” Grayson, Covid, , Camp Augusta, , , Grayson, Andy Shlensky, Rachel Beltzman, Rachel B, Julie Rothschild, Tom Rosenberg, Sara Bode, Bode, Casey Klein, ” Klein, Klein, Ned Lamont, Keith Garbart, ” Garbart, Misty Gregg, Torin, Minecraft, Misty Gregg's, Amira, Misty Gregg “, ’ ” Grayson, hasn’t, “ There’s Organizations: American Camp Association, NBC News, Camp Augusta, North Star Camp for Boys, North Star, Centers for Disease Control, YMCA, USA, CDC, American Academy of Pediatrics, School Health, Geneva Glen, Colorado Camps Network, Geneva, Gov Locations: Camp Augusta, Nevada City , California, Augusta, Connecticut, California, Camp, Georgia, Hayward , Wisconsin, Wisconsin, Chicago, , Geneva, Indian Hills , Colorado, New York City, United States, Farmington , Connecticut, Fremont , California
Neuralink cofounder Max Hodak said on Saturday he left the company "a few weeks ago." Elon Musk's Neuralink cofounder Max Hodak on Saturday said he left the company a few weeks ago. "I am no longer at Neuralink (as of a few weeks ago). Hodak and Musk appeared together in 2019 to announce that Neuralink had implanted a chip into a monkey, allowing it to control a computer with its brain. Monkeys have been able to control computer cursors with their brains since 2002, scientists told Insider afterwards.
Persons: Max Hodak, Hodak, Neuralink, Elon Musk's, Musk Organizations: Twitter, Duke University Locations: Fremont , California, California
Fremont, California-based Neuralink is, "developing ultra-high bandwidth brain-machine interfaces to connect humans and computers," according to the company's self-description on LinkedIn . Neuralink President Max Hodak announced on Saturday, via Twitter, that he is no longer with the health tech venture he co-founded with Elon Musk, and has not been for a few weeks. Musk described the surgery to insert a Neuralink device as taking less than an hour. After the August 2020 demo, MIT Technology Review deemed Neuralink "neuroscience theater," in a scathing teardown of the presentation. Among them are Kernel, Synchron, Neurable and even Facebook in the U.S., CereGate in Germany and Mindmaze in Switzerland.
Persons: Elon Musk, SpaceX –, Max Hodak, Musk, Anna Wexler, Hodak, what's Organizations: SpaceX, Washington , D.C, Twitter, Elon, MIT Technology, The New York Times, YouTube, NASA, Competitors Locations: Washington ,, Fremont , California, U.S, CereGate, Germany, Mindmaze, Switzerland
Tesla accused of environmental rule violations in U.S. and Germany
  + stars: | 2021-04-28 | by ( Lora Kolodny | ) www.cnbc.com + 0.00   time to read: +3 min
A worker wearing a face covering exits a Tesla Inc. vehicle at the company's assembly plant in Fremont, California, U.S., on Thursday, Aug. 13, 2020. In the U.S., the Environmental Protection Agency accused Tesla last week of failing to prove it is in compliance with federal emission standards for hazardous air pollutants. Tesla wrote in the filing: "This is primarily relating to administrative requirements, but Tesla has continued to take back battery packs." Tesla filed an objection in Germany, and said that the matter should not have a material impact on Tesla's business. Tesla previously obtained a permit to build a vehicle assembly plant there, but not with the battery cell production facility.
Persons: David Paul Morris, Tesla Organizations: Tesla Inc, Bloomberg, Getty, Environmental Protection Agency, CNBC, Fremont, Bay, Air Quality Management, Fremont Factory, Tesla Locations: Fremont , California, U.S, Germany, Fremont , Calif, Fremont, California, Grünheide, Brandenburg, Berlin
Elon Musk expects the Tesla Model Y to be the world's best-selling car in 2022, he said Monday. Tesla's Model Y SUV would likely become the world's best-selling car next year, its CEO, Elon Musk, said at its earnings call Monday. In 2019, the world's best-selling car was the Toyota Corolla, with sales surpassing 1.2 million, per Statistica. I'd say more likely than not, that in 2022 Model Y is the best-selling car or truck of any kind in the world." Musk reiterated his Model Y sales goals on Twitter, where he said it "seems quite likely at least based on revenue in 2022 & possibly total units in 2023."
Persons: Elon Musk, Tesla, Forbes, Ford's, Musk, Zachary Kirkhorn, Grace Dean Organizations: Toyota Corolla, Twitter, Tesla Locations: US, Fremont , California, Shanghai, China, Austin, Berlin
Elon Musk wants Tesla to be big in Texas. Elon Musk wants Tesla and SpaceX to be big in Texas. The anatomy of a bad ideaLet's start with the pickup market. Each company sells close to a million pickups every year in the US; Ford's F-Series has claimed the crown of America's best-selling vehicles since 1982. This is why Tesla Texas could be sort of a dumb move.
Persons: Elon, Tesla, Musk, Elon Musk, Lone Star Cape Kennedy, There's, Biden, it's Organizations: SpaceX, Lone Star, Twitter, State, General Motors, Ford, Fiat Chrysler Automobiles, France's PSA Group ., GMC, Chevy, Toyota, Detroit, Volvo, GM Locations: Texas, China, Boca Chica, Nevada, Fremont , California, California, Midwest, Austin, Detroit, China China, Shanghai, Europe, South Carolina, Berlin, USA
Signage is displayed on the Tesla Inc. assembly plant in Fremont, California, on Tuesday, Sept. 22, 2020. David Paul Morris | Bloomberg | Getty Images
Persons: David Paul Morris Organizations: Tesla Inc, Bloomberg, Getty Locations: Fremont , California
Tesla appeals order to delete Elon Musk's tweet about unions
  + stars: | 2021-04-05 | by ( ) www.cnbc.com sentiment -1.00   time to read: +1 min
Elon Musk, Founder and Chief Engineer of SpaceX, speaks during the Satellite 2020 Conference in Washington, DC, United States on March 9, 2020. Tesla is asking an appeals court to set aside a federal agency's order that a Twitter post discouraging union organizing be deleted from CEO Elon Musk's account. Among other things, the lengthy March 25 board ruling also orders Tesla to reinstate an employee who was fired for union-organizing activity and to give him back pay. Musk tweeted on May 20, 2018: "Nothing stopping Tesla team at our car plant from voting union. But why pay union dues and give up stock options for nothing?
Persons: Elon Musk, Tesla, Elon, Musk Organizations: SpaceX, National Labor Relations Board, United Auto Workers, U.S, Circuit, UAW Locations: Washington , DC, United States, Fremont , California, New Orleans
Tesla on Friday announced better-than-expected car sales for the first three months of 2021, despite major production and supply-chain headwinds. The electric-car maker delivered 184,800 vehicles in the first quarter, topping Wall Street's expectations. The carmaker sold 182,780 of its Model 3 and Model Y, along with 2,020 of its higher-end Model S and Model X. Tesla does not break down its sales by individual model. Additionally, we're working extremely hard to manage through the global semiconductor shortage as well as port capacity, which may have a temporary impact." In February, Tesla temporarily halted production at its Fremont, California, factory, and CEO Elon Musk attributed the break to "parts shortages."
Persons: Tesla, Read, Zach Kirkhorn, Kirkhorn, Elon Musk, they've Organizations: Wall, Tesla Locations: Shanghai, Fremont , California, Germany, Texas
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