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Tesla is planning to rollout its robotaxis in China, state-owned newspaper China Daily reported. Elon Musk suggested implementing Tesla's Full Self-Driving technology in China's taxi services. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla CEO Elon Musk is looking to to deploy his company's Full Self-Driving (FSD) technology in China's taxi services, Chinese state-owned newspaper China Daily reported on Tuesday. The Tesla chief made a surprise visit to China last month, where he met the country's second-highest-ranking politician, Premier Li Qiang.
Persons: Tesla, Elon Musk, , Li Qiang Organizations: China Daily, Service, Tesla, Bloomberg Locations: China
U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles' self-driving capabilities, three people familiar with the matter told Reuters. Tesla's Autopilot and Full Self-Driving systems assist with steering, braking and lane changes — but are not fully autonomous. Investigators are exploring whether Tesla committed wire fraud, which involves deception in interstate communications, by misleading consumers about its driver-assistance systems, the sources said. They are also examining whether Tesla committed securities fraud by deceiving investors, two of the sources said. The Securities and Exchange Commission is also investigating Tesla's representations about driver-assistance systems to investors, one of the people said.
Persons: Tesla, Elon, Musk Organizations: Reuters, Justice Department, The Securities, Exchange Commission, SEC, Prosecutors Locations: U.S, Teslas
An influx of over 175,000 migrants in New York City has further exposed the city's housing crisis. AdvertisementNo country in the world attracts more immigrants than the US — and no place symbolizes this better than New York City. Pushing migrants out of sheltersNew York City has managed to absorb much larger influxes of immigrants in the past. The New York City comptroller's office says the Adams administration is intentionally making life more difficult for asylum-seekers as a way to force them out of the city. "It is just a system that is meant to really discourage people from getting help from the city and from exercising their rights that they have as residents of New York City."
Persons: Eric Adams, , It's, it's, aren't, He's, who've, Elon Musk, Selcuk Acar, Susan Pozo, Pozo, Goldman Sachs, Adams, Celeste Hornbach, they've, they're, Sam Stanton, Hornbach Organizations: Service, New, New York City, Getty, Immigrants, Western Michigan University, Goldman Locations: New York City, Southern, New York, York, stoke, New
The rate of EV sales has been slowing for about a year, major automakers have pulled back on their previously lofty EV goals, and even electric car-giant Tesla is faltering. Demand for electric vehicles hasn't dried up completelyDemand for expensive EVs has softened significantly, but an opening exists in the affordable market. A new generation of electric car shoppers are looking for different options than their early-adopting counterparts. Essentially every major automotive company at this point has built its future around selling more electric vehicles. The real divide here is not between hybrids and EVs, but between legacy car companies and EV-only startups.
Persons: , it's, Power, It's, Elon Musk Organizations: Service, Business, EV, Companies, Ford, GM Locations: EVs
As recently as April 2022, the billionaire Tesla founder claimed in an interview that he was couch surfing and didn't "even own a place right now." In redacted court filings from December, Musk said he purchased the home in February 2022 and that he still lives there. In 2023, the Austin property was appraised at nearly $7 million, county tax records show. Less than a year later, in April 2022, Musk said again that he didn't own a home and rotated between friends' spare rooms. Eight weeks later, the LLC that purchased the Austin house was formed.
Persons: , Elon, Tesla, Grimes, Musk, Stefan Cassella, I'd, he'd, they'd, I'm, Austin, Ken Howery, Walter Isaacson, Tesla's Austin Gigafactory Organizations: Service, Business, Texas, State, Department of Justice, SpaceX, Street Journal, PayPal, Austin, Montessori Locations: Austin, Texas, California, San Francisco, Colorado, Bastrop , Texas, Tesla's
Tesla CEO Elon Musk suggested Boeing has "too many" non-technical managers. AdvertisementElon Musk is chiding Boeing on social media for employing "too many" non-technical managers amid a wave of ongoing layoffs at his own company, Tesla. Too many non-technical managers at Boeing. Advertisement"Too many non-technical managers at Boeing," Musk tweeted. Musk has opined about non-technical managers in the past, writing in a May 2020 tweet that he "strongly" believes "all managers in a technical area much be technically excellent."
Persons: Elon Musk, Boeing's Starliner, Tesla, , Elon, Musk, bTXWAfxfrh — Elon, Musk's Organizations: Boeing, Service, Tesla, Business, NASA, SpaceX, International Space
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
Tesla Chairwoman Robyn Denholm has just sold $17.3 million worth of her shares in the electric vehicle maker, according to a filing Monday, bringing her total stock sales this year to more than $50 million. Former Tesla Senior Vice President Drew Baglino, who announced his resignation in mid-April, sold shares worth around $181.5 million soon after his departure, according to a filing. In Denholm's early years on the Tesla board, she served on the audit committee. Before joining the Tesla board, Denholm served in executive roles at Sun Microsystems, and in finance roles at Toyota in Australia and at accounting firm Arthur Andersen. In her opinion, Chancellor Kathaleen McCormick wrote that by serving on Tesla's board, Denholm received "life-changing" compensation, which "far exceeded the compensation she received from other sources."
Persons: Robyn Denholm, Tesla, Denholm, Drew Baglino, Kathleen Wilson, Thompson, Elon Musk, hasn't, Musk, Arthur Andersen, , Chancellor Kathaleen McCormick Organizations: Tesla Inc, American, of Commerce, Tesla, SEC, Sun Microsystems, Toyota Locations: Australia, Sydney, what's, Delaware
General Motors is seeking to recruit students impacted by Tesla's recent internship rescindments. This story is available exclusively to Business Insider subscribers. "In light of recent industry news, GM is extending an invite to software students who may have been impacted from the changes in Tesla's upcoming summer internship cohort," the recruiter wrote. Del Amo and a spokesperson for GM did not respond to a request for comment from Business Insider ahead of publication. On Monday, Tesla workers entered their fourth week of layoff notices.
Persons: Motors, Tesla, , Laura del Amo, who'd, Del, Elon Musk, It's, Kurt Kelty, JP Clausen, Austin Gigafactory Organizations: GM, Service, LinkedIn, Business, Tesla Locations: Detroit, Del Amo
Calling AI profound, Buffet said that the technology is like a "genie" — once it gets let out of the bottle, it could have disastrous effects. It's a question, he said, that has riddled the best economists for a century. Warren Buffett is the first to admit he doesn't know much about artificial intelligence. This rebound has led to questions from corporate executives about factors that could be at play, from AI to return-to-office mandates. "Every company is looking at AI and deciding where it will help them," he said during a recent interview on CNBC's "Money Movers."
Persons: Buffett, Buffet, Warren Buffett, it's, couldn't, John Maynard Keynes, Keynes, Gary Cohn, Cohn, Dev Ittycheria, Elon Musk, Mark Zuckerberg, Sam Altman, Robert Solow, Berkshire Hathaway Organizations: Apple, Berkshire Hathaway, Berkshire, IBM, National Economic, CNBC, Nvidia, McKinsey, Harvard Business Locations: Omaha, Berkshire
Despite lower price tags, Chinese EVs often have more powerful batteries and more advanced technology. The competition among hundreds of Chinese EV makers has spurred rapid innovation. Even Tesla CEO Elon Musk, who made a surprise visit to Beijing last week, has said that without trade barriers Chinese EV makers would "demolish" their competitors. Chinese EVs tend to be smaller, cheaper and more accessible to the masses — BYD's Seagull, a small all-electric hatchback, starts at less than $10,000. It would take time to set up a sales and distribution network, Fields said, and Chinese EV makers could face a perception issue among American consumers.
Persons: They're, Stella Li, America's Tesla, Tesla, BYD, Mark Fields, Elon Musk, Musk, Fields, they've, Li, Biden, Musk's, That's Organizations: Alliance for American Manufacturing, U.S, BYD, NBC News, Western, Communist Party, Ford, International Energy Agency, Western automakers, United States, Lawmakers, World Trade Organization, European, Rhodium Group, EV, China Association of Automobile Manufacturers Locations: China, EVs, U.S, BYD Americas, BYD, Shenzhen, United States, Beijing, Europe, United, Union, Chinese, Mexico, South Korea, Japan
Apple wants to give the iPad a boost
  + stars: | 2024-05-07 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
The tech giant's event will reportedly showcase a new family of… iPads and iPad accessories. But Apple's event , which kicks off at 10 a.m. EST, is looking to give the iPad a boost. iPhone sales have noticeably dipped, which is why you're hearing Apple tout its "services" business , writes BI's Peter Kafka. And the new product Apple wants you to be excited about — the Vision Pro — hasn't lived up to the hype. a16z joins the Big Tech "fake work" debate.
Persons: , Tyler Le, they're, iPads, Antonio Villas, Boas, BI's Peter Kafka, Peter, hasn't, Katie Notopoulos, Wall, Lauren DeCicca, Tim Cook, Katie, aren't, I'd, we'll, I'm, Alyssa Powell, Danielle DiMartino Booth, James Devaney, Roger Kisby, Jack Dorsey's, Elon, Dorsey, Elon Musk, Satya Nadella, OpenAI, Jeff Bezos, Mark Zuckerberg, Warren Buffett, Berkshire Hathaway, a16z, Emily Sundberg, Andreessen Horowitz, David Ulevitch, Vladimir Putin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Apple, Google, Getty, US Treasury, National Bureau of Economic Research, Images, Penske Media, Microsoft, Tech, Paramount, Berkshire, Big Tech, Walt Disney Company Locations: BREIT, New York, London
Elon Musk revealed that SpaceX "basically uses no AI." "I mean, oddly enough, one of the areas where there's almost no AI used is space exploration," Musk replied. "So SpaceX uses basically no AI, Starlink does not use AI. At X, Musk integrated his AI chatbot Grok — similar to ChatGPT — into the social media platform. Musk also considered using AI to help summarize news on the site.
Persons: Elon Musk, hasn't, , Elon, Musk, Michael Milken, I'm, he's, electrochemistry, Geoff Hinton Organizations: SpaceX, Service, Milken Institute Global, Musk, Milken Institute, Business
Just a few months ago, the political movement behind Brazil’s far-right former president, Jair Bolsonaro, was sputtering. Mr. Bolsonaro had been voted out of office, ruled ineligible to run in the next election and was in the cross hairs of deepening criminal investigations. But now Mr. Bolsonaro and his followers have had a sudden surge of energy and momentum — with the help of Elon Musk and the Republican Party. Over the past month, Mr. Musk and House Republicans have harshly criticized Alexandre de Moraes, a Brazilian Supreme Court justice who is leading investigations into Mr. Bolsonaro, over the judge’s moves to block more than 100 social media accounts in Brazil. Many of them belong to prominent right-wing pundits, podcasters and federal lawmakers who, in some cases, have questioned Mr. Bolsonaro’s election loss.
Persons: Jair Bolsonaro, Bolsonaro, Elon Musk, Alexandre de Moraes Organizations: Elon, Republican Party, House Republicans, Brazilian Locations: Brazil
US automakers lose ground in China correction
  + stars: | 2024-05-06 | by ( ) www.cnbc.com   time to read: 1 min
Tesla CEO Elon Musk spoke last month during an investor earnings call. An earlier version misstated the timing. It was reported last Monday that Tesla passed a significant milestone to roll out its advanced driver assistance technology in China amid a visit by Musk. An earlier version misstated the timing. An earlier version misstated the timing.
Persons: Elon Musk, Tesla, John Lawler Organizations: Ford Locations: China
SpaceX beat Boeing to the punch, flying NASA astronauts to the space station four years ago for cheaper. NASA astronauts Suni Williams (left) and Butch Wilmore (right) conduct suited operations in a Boeing Starliner simulator. AdvertisementThe SpaceX Crew Dragon spaceship that accomplished the feat came from the same NASA initiative that's flying Starliner on Monday. NASA astronauts Bob Behnken (left) and Doug Hurley (right) were the first people to fly aboard a private spaceship, SpaceX's Crew Dragon. SpaceXWith each flight, SpaceX has earned money, while Boeing has been sinking more and more funds into Starliner.
Persons: Elon Musk, , Boeing's, Butch Wilmore, Suni Williams, Robert Markowitz, Bob Behnken, Doug Hurley, bTXWAfxfrh — Elon, Musk, Eric Berger, Cory Huston, Starliner's, Berger, George Nield, Nield, Scrappy SpaceX Organizations: Boeing, SpaceX, NASA, Service, Twitter, International Space Station, ISS, Atlas, Reuters, Department of Defense, Space Transportation Locations: Starliner
The company sent out another round of layoff notices on Sunday night, according to impacted workers who posted about the cuts on social media. The latest round of cuts mean that employees at the company are entering their fourth straight week of layoff notices. At least seven Tesla workers took to LinkedIn to say they'd received layoff notices on Sunday. "After watching my team gradually slimmed down week after week since mid-April, I received the dreaded 'Hello Employee' email this Sunday afternoon," one Tesla worker wrote on LinkedIn. Another worker shared a screenshot of her layoff email on LinkedIn that showed her last day of work would be May 5.
Persons: , Elon Musk, they'd, Tesla, Elon, Musk, Tesla's, Drew Baglino, Rohan Patel, Patel, TechCrunch he'd Organizations: Service, LinkedIn, Business, Workers, BI, TechCrunch Locations: California, Texas
Tesla's Model Y may offer unlocked range for an extra $1,500 to $2,000. Elon Musk said the new range provides an extra 40 to 60 miles and is pending regulatory approvals. AdvertisementTesla CEO Elon Musk says its recent Model Y models have more range than you thought — but you'll have to pay to get it. Musk said in a post on X that Model Y vehicles built over the past few months have an extra 40 to 60 miles of range that can be unlocked, depending on the battery. Musk said Tesla would charge an extra $1,500 to $2,000 for the upgrade and that he's "working through regulatory approvals to enable" the new range.
Persons: Elon Musk, , Musk, Tesla Organizations: Service
Jack Dorsey was very active on X this weekend. During a posting frenzy, he announced that he has left the Bluesky board. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: Jack Dorsey, Dorsey, , Kendrick Lamar, Drake, Kenny, Julian Assange's, Stella Assange, Edward Snowden, Elon Musk, Bluesky, Drake's Organizations: Service, he's, Business
Lucid Group reported first-quarter revenue above analysts' estimates on Monday as price cuts helped the company deliver more luxury electric sedans in the first three months of 2024. Revenue for the first quarter was $172.7 million, compared with analysts' estimate of $156.99 million, according to LSEG data. Lucid posted a net loss of $684.76 million, narrower than a $779.5 million loss a year earlier. It ended the first quarter with cash and cash equivalents of $2.17 billion, compared with $1.37 billion in the fourth quarter of last year. The company said it expects capital expenditure of $1.5 billion this year, compared with $910.6 million in 2023.
Persons: Lucid, Elon Musk, Tesla Organizations: Lucid, Air, Revenue, Saudi Arabia's Public Investment Fund Locations: Newark , California
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
After years of delays, Boeing is finally set to launch two NASA astronauts to the International Space Station on its Starliner spacecraft. ET, atop an Atlas V rocket at Florida's Cape Canaveral Space Force Station. Astronauts Barry "Butch" Wilmore and Sunita Williams will pilot the Starliner on its inaugural crewed flight — a crucial final test before NASA can authorize Boeing to conduct routine flights to and from the space station for the agency. If successful, the flight will enable Boeing to challenge the dominance held by Elon Musk's SpaceX, which has been ferrying NASA astronauts to and from the orbiting outpost since 2020. At a preflight briefing last week, Wilmore said safety is paramount and that previous Starliner launch attempts — both uncrewed and crewed — were delayed because the capsule simply was not ready until now.
Persons: Astronauts Barry, Butch, Wilmore, Sunita Williams, Elon Musk's Organizations: National Aeronautics and Space Administration, NASA, United, Alliance, Boeing's, NASA's Boeing, Cape Canaveral Space Force, Boeing, International, Atlas, Canaveral Space Force, Astronauts, Elon, Elon Musk's SpaceX Locations: Florida
Warren Buffett's Berkshire Hathaway should buy Tesla stock, according to Elon Musk. Detailed below is why Warren Buffett probably won't invest in Tesla, despite the encouragement. AdvertisementWarren Buffett should buy Tesla stock, according to Elon Musk. Related storiesBut Musk's dream of Berkshire Hathaway giving Tesla its stamp of approval and buying the stock is probably never going to happen. This isn't the first time Musk suggested Berkshire Hathaway should invest in Tesla.
Persons: Warren, Berkshire Hathaway, Elon Musk, Musk, Buffett, Warren Buffett, , Charlie Munger, Munger, Charlie, you've, they're Organizations: Service, Apple, Berkshire, Berkshire Hathaway's Locations: Tesla, Berkshire, BYD
Elon MuskElon Musk isn't a big fan of people being in meetings if they're not contributing value. Christian Marquardt - Pool/Getty ImagesMusk, the CEO of companies including Tesla and X, formerly Twitter, has described himself as a "nanomanager." Consistent with that style, Musk doesn't like delegating and last year told Tesla staff he wanted to personally approve all new hires . Musk also encourages people to leave meetings rather than stay in some cases. He's also said employees can feel free to buck the chain of command to get things done.
Persons: Elon, they're, Christian Marquardt, Tesla, Musk, He's Organizations: Getty
Jack Dorsey has gone from loving to hating to loving Elon Musk again. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTwitter co-founder Jack Dorsey might have once been a critic of Elon Musk's changes to his creation. But all that seems to be water under the bridge now for Dorsey, who's now seemingly in his "I Love Elon" era. For starters, Dorsey unfollowed over 2,000 accounts on X over the weekend, leaving just three accounts — Elon Musk, NSA whistleblower Edward Snowden, and Stella Assange, the wife of Wikileaks founder Julian Assange.
Persons: Jack Dorsey, Elon Musk, Bluesky, Dorsey, , Elon, who's, Dorsey unfollowed, Edward Snowden, Stella Assange, Julian Assange Organizations: Service, Twitter, NSA
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