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☆ Elon Musk’s X and Starlink face nearly $1 million in daily fines for alleged ban evasion in Brazil
▼ + stars: | 2024-09-19 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Elon Musk's X faces steep daily fines in Brazil for allegedly evading a ban on the service there, according to a statement from the country's supreme court on Thursday. The court said it would continue to impose "joint liability" on Starlink, the satellite internet service owned and operated by SpaceX, Musk's aerospace venture. Brazil previously withdrew money for fines it levied against X from the accounts of X and Starlink at financial institutions in the country. X said it wasn't intending to restore access for Brazilian users. Before the suspension, X had an estimated 22 million users in Brazil, according to Data Reportal.

Persons: Elon Musk's, Brazil's, Alexandre de Moraes, X, de Moraes, Darth Vader, Harry Potter, Voldemort, Musk, Correio, Cloudflare didn't Organizations: Supremo, Federal, SpaceX, Cloudflare, CNBC Locations: Brazil, India, Turkey, Hungary

While top executives from Alphabet , Meta and Microsoft are headed to Capitol Hill on Wednesday for a hearing on election threats, Elon Musk's X won't be participating. A representative for Sen. Mark R. Warner, the Democratic chair of the Senate Intelligence Committee, said in an emailed statement that X "declined to send an appropriate witness." The hearing is titled "Foreign Threats to Elections in 2024 — Roles and Responsibilities of U.S. Tech Providers." On Wednesday, Musk shared a false story on X that claimed explosives were found in a car near Trump's planned rally in Long Island, New York. "Under X, they are absent and some of the most egregious activity has taken place" on the platform, Warner said.

Persons: Elon Musk's, Sen, Mark R, Nick Pickles, Pickles, Kent Walker, Nick Clegg, Brad Smith, Marco Rubio, Joe Biden, Donald Trump, Biden, Merrick Garland, Musk, Kamala Harris, Harris, Warner Organizations: Microsoft, Capitol Hill, Warner, Democratic, Senate Intelligence, X, CNBC, U.S . Tech Providers, Republican, Social Design Agency, U.S . Department, Foreign Assets, Nassau County police, SpaceX, FAA Locations: Russian, Russia, Iran, China, Long Island , New York, Nassau County

☆ Elon Musk says SpaceX will sue FAA for 'regulatory overreach'
▼ + stars: | 2024-09-17 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Elon Musk said SpaceX will sue the Federal Aviation Administration for "regulatory overreach" after the agency planned to fine his defense contractor for issues with two launches last year. The FAA said SpaceX used an "unapproved rocket propellant farm" for its EchoStar XXIV Jupiter mission in July 2023. In a recent blog post, SpaceX complained about "difficulties launch companies face in the current regulatory environment," specifically pertaining to "launch and reentry licensing." In addition to taking on the FAA and environmental regulators, Musk has clashed with the National Labor Relations Board. WATCH: SpaceX will sue FAA

Persons: NASA's, Elon Musk, SpaceX didn't, Musk Organizations: Polaris, NASA's Kennedy Space Center, SpaceX, Federal Aviation Administration, FAA, Cape Canaveral Space Force, NASA, CNBC, Environmental Protection Agency, Texas Commission, National Labor Relations Board Locations: Cape Canaveral , Florida, Cape, Florida, Texas, Boca Chica , Texas

☆ Brazil supreme court unfreezes assets of Elon Musk's Starlink, X after taking fines
▼ + stars: | 2024-09-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Brazil's supreme court announced Friday that it ordered banks to transfer funds from Starlink and X accounts to pay fines the court levied against Elon Musk's social network. Following the transfers, the court ordered that the frozen bank accounts and assets of X and Starlink be released, saying there was no longer any need to keep them. The court suspended X at the end of August, and the suspension remains in place. On Sept. 5, his long-time collaborator at the helm of SpaceX, COO Gwynne Shotwell, also took shots at the Brazil supreme court online. Backers of de Moraes and the STF have seen the orders against X Corp. as an assertion of Brazilian sovereignty.

Persons: Elon Musk, Brazil's, Alexandre de Moraes, X, Musk, Starlink, de Moraes, UOL, Jair Bolsonaro, Bolsonaro, Brazil's Jan, Gwynne Shotwell, Alexandre Organizations: Tesla Inc, Elon, SpaceX, X Corp, Twitter Locations: Washington , DC, Starlink, Brazil

☆ Tesla Semi fire in California took 50,000 gallons of water to extinguish
▼ + stars: | 2024-09-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +1 min

A single-vehicle collision last month involving a Tesla Semi electric truck took 50,000 gallons of water to extinguish and required aircraft to dump fire retardant overhead, according to a preliminary report on Friday from the National Transportation Safety Board. The Tesla truck, driven by an employee, was headed to the company's battery factory in Sparks, Nevada, from a warehouse in Livermore, California, the report said. Tesla CEO Elon Musk first showed off the Semi truck design at an event in November 2017, promising it would come to market in 2020. "Preparation of Semi factory continues and is on track to begin production by end of 2025," Tesla said in its second-quarter earnings report in July. The NTSB report confirmed that Tesla's driver-assistance systems, which are marketed as Autopilot and Full Self-Driving (Supervised) in the U.S., were not "operational" at the time of the Semi collision and fire.

Persons: Tesla, Elon Musk Organizations: National Transportation Safety Board, NTSB, CAL Locations: Lake Tahoe, reigniting, Sparks , Nevada, Livermore , California, Nevada, U.S

☆ California attorney general warns tech platforms to look out for voter deception ahead of election
▼ + stars: | 2024-09-11 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

California Attorney General Rob Bonta cautioned executives at social media and other tech companies to work harder to protect voters from "deception, intimidation, and dissuasion," ahead of the November election. The letter reviewed sections of California law that prohibit interference with voting rights by misleading people about voting place and time and by using intimidation tactics. The letter follows pop icon Taylor Swift's endorsement of Kamala Harris for president on Tuesday night following the debate. Separately, X owner Elon Musk recently shared an AI-generated image portraying Harris dressed as a communist dictator. In August, an updated version of xAI's product, Grok-2, appeared to carry few limitations on creating fake images of political figures.

Persons: Rob Bonta, Bonta, Taylor, Kamala Harris, Swift, Donald Trump, Trump, Elon Musk, Harris, Kamala, Musk, OpenAI's Dall, Musk's Organizations: Microsoft, YouTube Locations: California

☆ If GPS goes dark, Mesa Quantum has a backup plan
▼ + stars: | 2024-09-05 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +5 min

Cofounded by Mesa Quantum CEO Sristy Agrawal and CTO Wale Lawal in 2023, the company has won a $1.9 million Space Force grant to demonstrate its alternative to GPS technology in military and civilian applications. J2 Ventures cofounder and managing partner, Alex Harstrick, told CNBC his fund backed Mesa Quantum in part because of the founders' extraordinary technical background. Harstrick said his fund hopes that Mesa Quantum will have its first demonstration of mass scale "atomic clocks" (quantum timing sensors) validated by a top-tier semiconductor manufacturing partner" in the next few years. "The U.S. government has established major initiatives to spur innovation in this area and is seeking to purchase a million quantum sensors each year -- if they can simply be mass-produced," she explained. With its grant funding and seed round in place, Agrawal said, Mesa Quantum will look to grow its team in Boulder, especially hiring atomic molecular and optical physicists, engineers and manufacturing experts this year.

Persons: Truckers, Sristy Agrawal, Wale Lawal, Alex Harstrick, Agrawal, Lawal, Harstrick, He's, that's Organizations: GPS, Mesa Quantum, Space Force, J2 Ventures, CNBC, University of Colorado, National Institute of Standards, Technology, U.S . Air Force Academy, Rice University, Harvard, Mesa Quantum's Locations: Sao Paolo, Brazil, Richmond , Vermont, Ukraine, Boulder , Colorado, Boston, U.S, Boulder

☆ X blocked in Brazil after supreme court panel upholds suspension order
▼ + stars: | 2024-09-02 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

A panel of Brazil's federal supreme court justices voted unanimously to uphold orders suspending the use of Elon Musk's social network X nationwide. X had earlier defied court requests to take down accounts or posts that it said violated Brazil's laws on political misinformation and hate speech online. The court also froze the financial assets of another Musk-led business, satellite internet service Starlink, in Brazil to ensure his social network would pay its fines. Brazil's telecoms regulator Anatel instructed internet service providers including Starlink to block access to X in the country until it complies with the court orders. However, some social media users in Brazil are moving to other social networks.

Persons: Luiz Fux, Alexandre de Moraes, X, Starlink, de Moraes, Musk, Moraes Organizations: Elon, Anatel, Labor, SpaceX, Associated Press Locations: Brazil, NATO, U.S, Australia, Turkey, India

☆ Brazil's top court orders nationwide suspension of Elon Musk's X
▼ + stars: | 2024-08-30 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Brazil's supreme court on Friday ordered a nationwide suspension of Elon Musk's social network X after the company vowed to defy earlier court orders concerning content moderation and the appointment of a legal representative in the country. Hours later, the court issued a second order suspending some of the measures in its first 51-page order against X. A suspension of X in Brazil could cause business problems for Musk's already embattled company. Musk has repeatedly denounced de Moraes' court orders as censorship. In its Thursday statement, X said de Moraes court had taken "illegal actions" against the company.

Persons: Elon, Alexandre de Moraes, de Moraes, Moraes, Musk, Starlink, De Moraes, X, Voldemort Organizations: Globo, Apple, Google, Twitter, World Bank, CBS, Starlink, Musk's SpaceX, U.S, Brazil weren't Locations: Brazil, NATO, U.S

☆ Musk ramps up attacks on Brazil’s top judge as X faces possible suspension, Starlink finances frozen
▼ + stars: | 2024-08-29 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

X Global Government Affairs issued a statement on Thursday evening ahead of an anticipated suspension of its platform in Brazil. A suspension of X in Brazil could cause serious business problems for the already embattled social network. And under Brazil's laws, social networks there have to employ someone who can receive and consider government takedown notices about political misinformation. X has no such employee in Brazil, after the company said it was removing all its employees from the country earlier this month. Mark my words," Musk wrote to de Moraes and Musk's 195.8 million listed followers on X.

Persons: Elon Musk, The Beverly Hilton, Tesla, Alexandre de Moraes, de Moraes, De Moraes, Musk, Alexandre Organizations: SpaceX, Tesla, The Beverly, X Corp, Brazilian, X Global Government Affairs Locations: Beverly Hills , California, U.S, Brazil

☆ Elon Musk’s xAI accused of worsening Memphis smog with unauthorized gas turbines at data center
▼ + stars: | 2024-08-28 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Elon Musk announced his new company xAI which he says has the goal to understand the true nature of the universe. Elon Musk's artificial intelligence startup, xAI, is being accused by environmental and health advocates of adding to the pollution problem in Memphis, Tennessee, by using natural gas burning turbines at its new data center, and doing so without a permit. The letter notes that xAI "has installed at least 18 gas combustion turbines over the last several months (with more potentially on the way)." The company has been using the turbines to power the facility, but its long-term plan is to use power from the local utility, Memphis Light, Gas and Water and the Tennessee Valley Authority. MLGW told CNBC that it started providing 50 megawatts of power to xAI at the beginning of August.

Persons: Elon Musk, Musk, xAI, MLGW Organizations: Southern Environmental Law Center, Health Department, Environmental Protection Agency, Memphis, Tennessee Valley Authority, CNBC, SpaceX, Google, Microsoft, American Lung Association Locations: Memphis , Tennessee, Shelby County, Memphis, Tennessee, Shelby

☆ Texas judge in X's lawsuit against advertisers recuses himself after report he owned Tesla stock
▼ + stars: | 2024-08-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +1 min

The judge overseeing X's lawsuit against advertisers has recused himself following a news report that showed he owned shares of Tesla . In a recusal notice dated Aug. 13, U.S. District Judge Reed O'Connor in Texas backed out of X's case against the World Federation of Advertisers, which was filed last week. X, formerly known as Twitter, is owned by Elon Musk, who is also the CEO and largest shareholder in Tesla. On Monday, NPR reported that O'Connor had owned shares of Tesla in 2022, the date of his last available disclosure, posing a potential conflict of interest. In X's lawsuit, the company accused a number of advertisers of engaging in antitrust behavior when they stopped ad campaigns on the site.

Persons: District Judge Reed O'Connor, Elon Musk, O'Connor, weren't, Ed Kinkeade, Sen, John Cornyn Organizations: Tesla, District, World Federation, Elon, NPR, Companies, Unilever, Mars, CVS Healthcare, Orsted, WFA, Global Alliance, Responsible Media, X, Media Matters, America Locations: U.S, Texas, Tesla, Europe, North Texas, China

"I look at what you do," Trump said to Musk during a two-hour interview Monday night on X, the social media platform Musk owns. They go on strike," Trump said to Musk, who also is CEO of the EV car maker Tesla and of SpaceX. So, every one of you is gone,'" Trump said. "When we say Trump stands against everything our union stands for, this is what we mean." Neither the Trump campaign nor Musk replied to CNBC's request for comment on the UAW action.

Persons: Donald Trump, Elon Musk, Trump, Musk, Shawn Fain Organizations: United Auto Workers, National Labor Relations Board, EV, SpaceX, Twitter, UAW

☆ SpaceX repeatedly polluted waters in Texas this year, regulators found
▼ + stars: | 2024-08-12 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +5 min

"In total, the Harlingen region received 14 complaints alleging environmental impacts from the Facility's deluge system," the regulator said in the document. Water deluge systems with flame deflectors diffuse heat, sound and energy generated by orbital test flights and rocket launches. SpaceX ran its first full-pressure test of the water deluge system in July 2023. The company hit new milestones with the test flight and Musk appeared triumphant. NASA chief Bill Nelson congratulated SpaceX on "a successful test flight!"

Persons: SpaceX's, TCEQ, Elon Musk's, Musk, Bill Nelson, SpaceX, Eric Roesch, Roesch Organizations: Boca, Aerospace, SpaceX, Federal Aviation Administration, CNBC, Texas Commission, Environmental, Environmental Protection Agency, Elon Musk's SpaceX, Boca Chica, FAA, EPA, NASA Locations: Brownsville , Texas, U.S, Boca Chica, Harlingen, South Texas, Starbase, Texas, Mars

Thierry Breton, France's European Union commissioner for internal market and consumer protection, industry, research and energy. Billed as an unscripted conversation by Musk, the Spaces session will be one of the few campaign events Trump does this week. Breton warned Musk that the EU was prepared to "make full use of our toolbox" to protect EU citizens from "serious harm." Getty Images | Getty Images News | Getty ImagesSince then, Musk has made a series of incendiary comments about the situation in the U.K. on X. Riot police officers push back anti-migration protesters outside on Aug. 4, 2024 in Rotherham, U.K. Christopher Furlong | Getty Images

Persons: Elon Musk, Tesla, Apu Gomes, Linda Yaccarino, Thierry Breton, Yaccarino, Donald Trump, Musk, Kamala Harris, Keir Starmer, Ashlea Simon, Peter Kyle, Christopher Furlong Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Getty, European, X Corp, Union, Trump, Republican, Democratic, EU's Digital Services, Digital Services, Riot, British, Britain, Times Locations: Beverly Hills , California, Europe, United Kingdom, EU, Breton, Southport , England, Southport, England, Northern Ireland, Falkland Islands, Rotherham, U.K

☆ Uber reports better-than-expected results for second quarter
▼ + stars: | 2024-08-06 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

For the third quarter, Uber expects bookings of $40.25 billion to $41.75 billion. Uber's "monthly active platform consumers" (MAPCs) reached 156 million in the second quarter with 2.77 billion trips via the Uber platform. This compares to 137 million MAPCs and 2.28 billion trips during the same period a year ago. Uber also reported $1.02 billion in net income for the quarter, which included a $333 million pre-tax benefit from "revaluations of Uber's equity investments." The companies also plan "to collaborate on future BYD autonomous-capable vehicles to be deployed on the Uber platform," Uber said on Tuesday.

Persons: Dara Khosrowshahi, Uber, Gross, Instacart, Tesla Organizations: Uber, LSEG Revenue, Bank of America Locations: Davos, Switzerland, Europe, Latin America, U.S

☆ Kamala Harris gets support of more than 100 VCs and tech execs in online pledge
▼ + stars: | 2024-07-31 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

U.S. Vice President Kamala Harris speaks at a campaign rally at the Georgia State Convocation Center in Atlanta on July 30, 2024. More than 100 VCs on Wednesday pledged their support to Vice President Kamala Harris, the de facto Democratic nominee, as she ramps up her campaign to take on Trump in the November election. The group, calling itself VCs for Kamala, is made up of investors and entrepreneurs from a range of established and rising funds, and different demographic groups. "We spend our days looking for, investing in and supporting entrepreneurs who are building the future," the group said in its pledge. The VCs for Kamala list highlights a deepening political divide in Silicon Valley and the broader tech industry.

Persons: Kamala Harris, Donald Trump, Kamala, Vinod Khosla, Reid Hoffman, Mark Cuban, Aileen Lee, Rebecca Kaden, Elon Musk, VCs Marc Andreessen, Ben Horowitz, Trump, Musk, Shaun Maguire, 8VC's Joe Lonsdale, Musk's, David Sacks, Hoffman, Greylock, Harris, Erika Lucas Organizations: Republican, Democratic, Trump, Khosla Ventures, LinkedIn, Dallas Mavericks, Cowboy Ventures, Union Square Ventures, America PAC, Sequoia, Craft Ventures, Republican National Convention, Musk, Convention Locations: Georgia, Atlanta, Silicon Valley, Chicago

☆ Elon Musk wants Tesla to invest $5 billion into his newest startup, xAI — if shareholders approve
▼ + stars: | 2024-07-24 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Specifically, he asked: "Should Tesla invest $5B into @xAI, assuming the valuation is set by several credible outside investors? Tesla reported second-quarter earnings that fell shy of analysts expectations for the fourth consecutive quarter, and declining revenue in its core automotive segment. During the Tuesday earnings call, shareholders asked Musk whether Tesla might invest in xAI and integrate xAI's software, named Grok, into its vehicles. Musk replied, "Tesla is learning quite a bit from xAI. The $5 billion number did not come up until Musk posted the poll after the call.

Persons: Musk, Elon Musk, —, Tesla's, Tesla, It's, I'm, Grok Organizations: Cannes Lions, SpaceX, The Boring Company, X Corp, Tesla, CNBC Locations: Tesla's Texas, xAI

As Tesla CEO Elon Musk continues to make lofty promises about his company's future in autonomous driving and robotics, investors keep watching profit margins deteriorate. It's the fourth straight quarter of shrinkage. The company reported just $1.48 billion in net income on revenue of $25.5 billion, which included $890 million in regulatory credits. "Affordability remains top of mind for customers," said Vaibhav Taneja, Tesla's chief accounting officer, on the company's earnings call. Tesla began offering a five-year, zero interest loan offer to spur sales of its EVs in China in April.

Persons: Elon Musk, Tesla, Vaibhav Taneja Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Nasdaq Locations: Beverly Hills , California, China, CnEVPost, Shanghai, Germany

☆ Tesla set to report second-quarter earnings after the bell Tuesday
▼ + stars: | 2024-07-23 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Tesla is set to report second-quarter earnings after the bell on Tuesday. Although Tesla reported vehicle deliveries of 443,956 in the second quarter, a 4.8% decline from the year-earlier period, those numbers were better than analysts had expected. But Musk and his stalwart Tesla bulls and broader fan base have ambitions for the EV maker beyond making and selling cars. In 2021, Musk also began to promise that Tesla would develop and produce humanoid robots capable of factory work, at least. Tesla "deliveries" are not an audited financial metric, but are the closest approximation to sales reported by the company.

Persons: Elon Musk, The Beverly Hilton, Tesla, Elon, Musk, Donald Trump, InsideEVs Organizations: SpaceX, Tesla, The Beverly, LSEG, PAC, Trump, Republican, Pew Research, Democratic, Cox Automotive, Boring Company, X Corp, CNBC Pro Locations: Beverly Hills , California, U.S

☆ Tesla reports second-quarter earnings on Tuesday and investors want a robotaxi update
▼ + stars: | 2024-07-22 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Tesla will report second-quarter earnings after the bell on Tuesday. The company's vehicle deliveries report on July 2 was better than analysts feared, but still represented a decline from the previous year. Retail investors who submitted questions via the Say Technologies platform ahead of time are hoping for answers about the company's delayed plan to unveil its CyberCab, a "dedicated robotaxi" and its progress on self-driving technology in general. Retail investors who submitted questions via the Say Technologies platform ahead of time are hoping for answers about the company's delayed plan to unveil its CyberCab, a "dedicated robotaxi" and its progress on self-driving technology. Investors also submitted questions via Say Technologies about Tesla's progress developing humanoid robotics that the company aims to put to work in its factories.

Persons: Tesla, Elon Musk, LSEG, They're, Donald Trump, Vance, Trump, Musk, Optimus Organizations: Say, Republican, Reuters, Car Dealers Association, Investors, Technologies Locations: Monterrey, Mexico, California

☆ Elon Musk endorses Donald Trump shortly after ex-president injured by shots fired at rally
▼ + stars: | 2024-07-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Elon Musk, chief executive officer of SpaceX and Tesla and owner of X, speaks at the Milken Conference 2024 in Beverly Hills, California, May 6, 2024. Elon Musk posted on X that he "fully" endorses Donald Trump moments after the former president and presumptive Republican nominee was rushed off stage by secret service members following gunshots at a rally in Pennsylvania on Saturday. "I fully endorse President Trump and hope for his rapid recovery," Musk wrote on X, which he owns. Musk also compared Trump to Theodore Roosevelt, who survived an assassination attempt while campaigning for president in 1912. Musk also said at that event that Trump "does call me out of the blue for no reason."

Persons: Elon Musk, Donald Trump, Trump, Musk, Theodore Roosevelt, Joe Biden's Organizations: SpaceX, Tesla, Republican, Trump, NBC, Bloomberg, PAC, America PAC, Forbes Locations: Beverly Hills , California, Pennsylvania, Butler County, Lago, Palm Beach

☆ Tesla shares wipe out loss for the year with 27% rally this week
▼ + stars: | 2024-07-05 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +1 min

Elon Musk attends 'Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk' session during the Cannes Lions International Festival Of Creativity 2024 - Day Three on June 19, 2024 in Cannes, France. Tesla's stock price rose enough on Friday to wipe out its loss for the year and bring its gain for the week to 27%. The latest rally was sparked by a better-than-expected deliveries report for the second quarter on Tuesday. In April, Tesla shares hit a 52-week low after a string of troubling developments. Since last year, Tesla has been offering extensive discounts and incentives to attract customers to its aging lineup of EVs, including its popular entry-level Model 3 sedans, Model Y crossover utility vehicles, and its more expensive, flagship Model S sedans and Model X SUVs.

Persons: Elon Musk, Mark Read, Tesla Organizations: Cannes Lions Locations: Cannes, France, Texas

☆ Tesla short sellers lost $3.5 billion in two days of trading after deliveries report
▼ + stars: | 2024-07-04 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

With the shares rallying 17% in the two trading days since the second-quarter report, short sellers have lost an estimated $3.5 billion on a mark-to-market basis, according to data from S3 Partners. It's been a painful few months for short sellers, as Tesla shares have soared 73% since bottoming for the year in April. Short interest in Tesla currently stands at 3.5% of float, or 97 million shares shorted, with a $22.4 billion notional value. While the deliveries report suggested demand for Tesla vehicles remains stronger than feared, it offered a limited view into company performance. In the U.S., Tesla offered a three-year, 2% APR financing deal for buyers of its rear-wheel drive Model 3.

Persons: Tesla, Patrick Pleul, PATRICK PLEUL, It's Organizations: Getty, S3 Partners Locations: Gruenheide, Berlin, Germany, Norway, China, U.S

☆ Tesla recalls Cybertruck to fix faulty windshield wipers, loose trim
▼ + stars: | 2024-06-25 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

One is to fix problems with trim pieces, which can loosen and fall off the trunk, and the other is to address faulty motor controllers in the front windshield wipers. The report said a "non-functioning windshield wiper may reduce visibility in certain operating conditions, which may increase the risk of a collision." Tesla plans to replace the motor controller in the Cybertruck windshield wipers for customers. An earlier Cybertruck recall was issued to repair an accelerator pedal issue. The recall disclosures for the windshield wiper issue said that from Nov. 13, 2023, to Jun.

Persons: Tesla, —, didn't, Elon Musk, Musk, Tesla's, It's Organizations: National, Traffic Safety Administration, Ford, Tesla Locations: U.S, Austin , Texas, China

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