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Hybrid vehicles led the 2024 top vehicle rankings released Tuesday by influential product testing organization Consumer Reports. Such "electrified" vehicles, including plug-in hybrid models, represented six of the top 10 picks by the nonprofit consumer organization. Toyota's four vehicles in the top 10 rankings were all hybrid or plug-in hybrid vehicles. Both hybrids and plug-in hybrids have a traditional engine combined with EV technologies. Plug-in hybrids typically have a larger battery to provide for all-electric driving for a certain number of miles until an engine is needed to power the vehicle or electric motors.
Persons: Jake Fisher Organizations: Tesla, Consumer, Toyota Motor, Subaru, Ford Motor, Mazda, BMW, CNBC, EV, Toyota Prius
The House Select Committee on the Chinese Communist Party sent a letter on Saturday to Elon Musk demanding that U.S. troops stationed in Taiwan get access to SpaceX's Starshield, a satellite communication network designed specifically for the military. The letter, obtained by CNBC and first reported by Forbes, claimed that by not making Starshield available to U.S. military forces in Taiwan, SpaceX could violate its Pentagon contract, which requires "global access" to Starshield technology. The letter requests that Musk provide the House committee with a briefing on its Taiwan operations by March 8. Taiwan has been governing itself independently of China since the island split from the mainland during the 1949 civil war. "I think I've got a pretty good understanding as an outsider of China," Musk said on the All-In Podcast.
Persons: Elon Musk, Tesla, Forbes, Mike Gallagher, Gallagher, Tsai Ing, Lai Ching, Musk, I've, Jaushieh Joseph Wu Organizations: Fratelli, Chinese Communist Party, Elon, CNBC, SpaceX, Pentagon, U.S ., Rep, CCP, Starshield, Russia, U.S, Tesla, Foreign Locations: Italy, Rome, Taiwan, China, American, Shanghai, Hawaii
Electric vehicle maker Tesla failed to secure a vote among locals in favor of authorizing a major factory expansion for the company's battery and car assembly plant in Brandenburg, Germany. The vote is nonbinding, according to The New York Times, which reported that local officials would try to find another solution. While Tesla has remained a top-selling brand in Europe, it faces competition from more battery electric models than ever in and beyond the region. Sales of new battery electric passenger vehicles in Europe increased 29% year over year in Europe in January, according to the European Automobile Manufacturers Association. Germany and France currently represent the two biggest markets for fully electric vehicles in Europe.
Persons: Tesla Organizations: Tesla, DW, The New York Times, European Automobile Manufacturers Association . Germany, CNBC PRO Locations: Berlin, Brandenburg, Germany, Grünheide, Red, Europe, France
Arc Boat Company's fully electric Arc Sport model gets four to six hours of typical use on a single charge. Arc Boat Company began sales of its second electric boat model in just three years this week. The new $258,000 Arc Sport was designed for wake sports enthusiasts and follows the company's earlier Arc One, a limited-edition luxury cruiser. The 23-foot Arc Sport can carry up to 15 people at a time. Arc plans to begin deliveries of its new battery electric Arc Sport to customers this year.
Persons: Mitch Lee, Ryan Cook, Arc, Kevin Durant, Klay Thompson, Will Smith, Andreessen Horowitz, Lee, Rivian Organizations: Boat Company, GM, Sacramento –, SpaceX, EV, Eclipse Ventures, Menlo Ventures Locations: Malibu, Stockholm, Sacramento – San Joaquin, Stockton , California, Lyft, Brunswick, MarineMax
SpaceX has filed to change its incorporation location to Texas from Delaware, according to public filings with the Texas Secretary of State. Neuralink, another one of Musk's companies, has also begun moving its location of incorporation from Delaware to Nevada. He has also promised that Tesla will hold a shareholder vote to get approval to move the company's site of incorporation to Texas. "SpaceX has moved its state of incorporation from Delaware to Texas!" Musk is expected to file for appeal to the Delaware State Supreme Court regarding his pay package.
Persons: Elon Musk, Tesla, Musk, didn't, Elon Organizations: SpaceX, USSF, U.S . Space Force, Missile Defense Agency, Texas, State, Elon, Delaware, Court, Twitter Locations: Cape Canaveral , Florida, U.S, Texas, Delaware, Nevada
Antonio Masiello | Getty ImagesTwo weeks after a Delaware court ruled that Tesla must rescind Elon Musk's $56 billion pay package, the company's board remains mum on what the decision means for shareholders or what's next for the mercurial CEO. CNBC sent requests for additional information to Tesla investor relations, Musk and some board members. "Given the high stakes involved, it is likely that Tesla will appeal the decision," Kastiel said in an email. In the absence of a successful appeal, "any new compensation arrangement with him will have to be assessed" in light of McCormick's decision, Kastiel said. Kastiel also said that the decision likely makes Musk and Tesla more vulnerable to other types of lawsuits.
Persons: Elon Musk, Antonio Masiello, Tesla, Chancellor Kathaleen McCormick, Musk, Richard Tornetta, Kimbal, Robyn Denholm, JB Straubel, Greg Varallo, Bernstein Litowitz Berger, Grossmann, Varallo, Kobi, Kastiel wasn't, Kastiel, Eric Talley, Talley, wasn't, He's, Walter Isaacson, CNBC's, you'll, Isaacson, Ann Lipton, Lipton, Organizations: Tesla Inc, Fratelli, Getty, Elon Musk's, SEC, CNBC, Tel Aviv University, Washington University Law, Nasdaq, Columbia Law School, SpaceX, Tesla, Tulane Law Locations: Italy, Rome, Delaware, Texas, Tesla, Nevada, California
A Waymo rider-only robotaxi is seen during a test ride in San Francisco, California, U.S., December 9, 2022. Waymo has filed a voluntary recall notice with federal vehicle safety regulators for software that was previously used in their driverless cars, the company announced Tuesday, marking a first for Alphabet 's self-driving vehicle unit. The two collisions involving their robotaxis resulted in only minor vehicle damage and no injuries, Waymo said in the post. Waymo currently operates its driverless ride-hailing service Waymo One in Phoenix, San Francisco, Los Angeles and Austin. In a separate incident, unknown parties set a Waymo vehicle ablaze on Saturday in San Francisco's Chinatown during Lunar New Year celebrations.
Persons: Waymo, Katherine Barna, Barna, Jan, Cruise, Elon Musk, Tesla Organizations: National, Traffic Safety Administration, NHTSA, California Department of Motor Vehicles, GM, California DMV, Authorities, NBC Bay Area Locations: San Francisco , California, U.S, Phoenix, San Francisco , Los Angeles, Austin, San Francisco, California, San Francisco's Chinatown
President Joe Biden's reelection campaign launched an official TikTok account Sunday evening. The account is noteworthy because TikTok is currently banned on most U.S. government-issued devices. The TikTok account, with the handle "@bidenhq," debuted Sunday during Lunar New Year celebrations in China and Super Bowl 58 in the U.S. Biden campaign advisors told NBC News the TikTok account is part of an effort to meet voters where they are. The Biden White House has carried on a love-hate relationship with TikTok since Biden took office.
Persons: Joe Biden, John F, Joe Biden's, TikTok, Biden, Shou Zi Chew, Jeffrey Yass, ratcheted Organizations: Kennedy International Airport, Super, China, Harvard Business School, TikTok's, Susquehanna International Group, Billionaire, U.S, NBC, Pew Research, Biden White Locations: New York City, U.S, China
Tesla and SpaceX CEO Elon Musk has to testify in a probe by the U.S. Securities and Exchange Commission concerning his 2022 acquisition of Twitter, a U.S. judge ordered in a court filing out Saturday. Musk closed his acquisition of Twitter in October 2022 in a deal worth roughly $44 billion, and has since rebranded it X. Musk, his attorney Alex Spiro and the SEC did not immediately respond to requests for comment. The settlement required Musk to have a "Twitter sitter" approve his tweets about his electric vehicle business before posting them. Attorneys for SpaceX argued in their suit that the very structure of the federal labor board violates the U.S. Constitution.
Persons: Elon Musk, Musk, Laurel Beeler, Alex Spiro, Tesla Organizations: SpaceX, U.S . Securities, Exchange Commission, Twitter, CNBC, SEC, U.S, Supreme, National Labor Relations Board, NLRB, Southern, Southern District of, Attorneys, . Constitution, Starbucks Locations: Warsaw, Poland, U.S, Southern District, Southern District of Texas, Brownsville, .
An aerial view of the Tesla Fremont Factory on May 13, 2020 in Fremont, California. Electric vehicle maker Tesla was sued by district attorneys representing 25 counties in California over the company's alleged improper handling of hazardous waste materials at facilities throughout the state. The company's first, high-volume EV factory in the world was its Fremont, California vehicle assembly plant, which it still owns and operates today. The lawsuit, The People of California v. Tesla Inc., was filed in a California state court in San Joaquin County on Tuesday. They also alleged that Tesla often failed to accurately label containers of hazardous materials that it generated, used or stored at its facilities, and failed to train employees in proper handling of hazardous waste.
Persons: Tesla, Eric Roesch, Roesch, Elon Musk, Moz.de Organizations: Tesla Fremont Factory, Electric, Tesla Inc, Reuters, SpaceX, CNBC, Cal . Health, Saf, Cal, Tesla, Economy Research Locations: Fremont , California, California, Austin , Texas, Palo Alto , California, San Joaquin County, Germany, Brandenburg
Tesla will pay a fee of $1.5 million to settle a civil lawsuit alleging the company mishandled hazardous waste materials at facilities throughout the state of California for years. District attorneys representing the people of 25 California counties had filed their lawsuit, The People of the State of California v. Tesla Inc., earlier in the week in a state court in San Joaquin County. The suit also alleged that Tesla frequently failed to properly label containers of hazardous materials that it generated, used or stored at its facilities, and failed to train employees in proper handling of hazardous waste. In addition to the settlement fee, Tesla will need to "comply with a detailed injunction for five years," according to the statement. The audits will continue for five years and involve inspections of Tesla's trash containers for hazardous waste, the statement from Jenkins said.
Persons: Tesla, Brooke Jenkins, Jenkins, Jack Sweeney Organizations: Tesla, California counties, of, Tesla Inc, San Francisco, Economy Research Locations: California, of California, San Joaquin County, Fremont , California
SpaceX, X (formerly known as Twitter), and Tesla CEO Elon Musk speaks during live interview with Ben Shapiro at the symposium on fighting antisemitism on January 22, 2024 in Krakow, Poland. Elon Musk said late Wednesday that Tesla will hold a shareholder vote on whether to transfer the electric carmaker's state of incorporation to Texas. After the poll, Musk said Tesla will "will move immediately to hold a shareholder vote to transfer state of incorporation to Texas." Musk will likely have to seek approval from the Tesla board to enact such a move. "Never incorporate your company in the state of Delaware," Musk posted on X this week.
Persons: Elon Musk, Ben Shapiro, Tesla, Musk, Musk's, Chancellor Kathaleen McCormick Organizations: SpaceX, Tesla, Musk Locations: Krakow, Poland, Texas, Delaware
A Delaware judge on Tuesday voided the $56 billion pay package of Tesla CEO Elon Musk, ruling that the company's board of directors failed to prove "that the compensation plan was fair" or show much evidence that they had even negotiated with him. The pay package that Tesla granted Musk in 2018 was the largest compensation plan in public corporate history, McCormick noted in her 200-page ruling. He claims that Tesla, Inc.'s directors breached their fiduciary duties by awarding Elon Musk a performance-based equity-compensation plan." "Put simply, neither the Compensation Committee nor the Board acted in the best interests of the Company when negotiating Musk's compensation plan. But in a tweet late Tuesday afternoon, Musk wrote, "Never incorporate your company in the state of Delaware."
Persons: Elon, Twitter —, Elon Musk, Richard Tornetta, Chancellor Kathaleen McCormick, Tesla, McCormick, Musk, Tornetta, Todd Maron, Grant Organizations: SpaceX, Twitter, New York Times, Tesla, Delaware Supreme Court, Inc, Elon, Company, Musk, CNBC, CNBC PRO Locations: New York City, Delaware
Tesla is set to report fourth-quarter earnings for 2023 after the bell Wednesday. Tesla shareholders submitted questions for executives to answer via the platform Say Technologies ahead of the earnings call. They're asking when Tesla plans to debut its "next-generation" vehicle, a more affordable EV referred to by fans as the Model 2. Gerber said on CNBC's "Last Call" with Brian Sullivan, that Musk was "blackmailing" Tesla shareholders, and that "the idea that he doesn't control Tesla is absurd." WATCH: Elon Musk is very much in charge of Tesla
Persons: Elon Musk, Tesla, Musk, Elon, Ross Gerber, who's, bristled, Gerber, Brian Sullivan Organizations: Tesla Inc, Fratelli, LSEG, Labor, General Motors, Ford, United Auto Workers, Tesla, Investors, Twitter Locations: Italy, Rome, U.S, Sweden, Scandinavia, Europe, Nevada, Tesla
Tesla and SpaceX CEO Elon Musk, who also owns the social network X (formerly known as Twitter), said Monday that he wants about 25% of voting control over his electric vehicle business. Now, Musk is angling for even more control over Tesla. Specifically, Musk wrote on Monday, "I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. "Unless that is the case, I would prefer to build products outside of Tesla," the billionaire executive said on X. Tesla unveiled an early Optimus prototype at Tesla AI Day in September that year, and Musk said in a post around that event: "The point of AI Day is to show the immense depth & breadth of Tesla in AI, compute hardware & robotics."
Persons: Elon Musk, Rishi Sunak, Tesla, Musk, Musk's, Tesla's Organizations: Tesla Inc, SpaceX, Twitter Locations: London, That's, Tesla
Shares of Tesla closed down more than 3% Friday as the stock faced pressure from supply chain delays due to a crisis in the Red Sea, and after offering more price cuts on its vehicles in China. The Iranian-backed Houthi militia group has been attacking cargo ships and merchant vessels in the Red Sea in response to the ongoing war in the Gaza Strip. The Baird analysts wrote that they are "wary" of further effects to Tesla's supply chain, and they are "closely monitoring" any effect on the company's shipping routes from China. "No delays have been cited, however, we speculate that disruptions in the Red Sea may lead to longer wait times as supply chains are rerouted," they wrote. Analysts were also focused on Tesla's continuing price cuts including new discounts in China.
Persons: Tesla, Baird, Morgan Stanley, Price, Hertz, Stephen Scherr, Scherr, unionize Organizations: Tesla, Hertz, Reuters, Baird, United Auto Workers, UAW, Toyota Locations: Red, China, U.S, Berlin, Grunheide, Germany, Jan, Gaza, Europe, Sweden, Scandinavia, Detroit
Here are the key numbers: Total deliveries Q4 2023: 484,507Total production Q4 2023: 494,989Total annual deliveries 2023: 1,808,581Total annual production 2023: 1,845,985 In 2022, the Elon Musk-led automaker reported annual deliveries of 1.31 million and production of 1.37 million electric vehicles. In its last earnings call in October 2023, Tesla execs offered guidance that the company would notch at least 1.8 million deliveries for the full year, a number they had revised down from a 2 million goal earlier. Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company's shareholder communications. Tesla does not break out delivery and production numbers by individual model but reported combined numbers of: Tesla produced 476,777 Model 3 and Model Y vehicles during the quarter and reported 461,538 deliveries for these models. In the last quarter of 2023, Tesla sold its refreshed, or Highland, version of the entry-level Model 3 sedan in some markets.
Persons: Tesla, StreetAccount, Aly Song, Musk Organizations: Elon, Analysts, Tesla Locations: Tesla China, Shanghai, China, U.S
Tesla is recalling around 2 million of its vehicles in the U.S. to fix Autopilot features that auto safety regulators found to be confusing to drivers, or too easy for them to misuse and abuse. The NHTSA opened an investigation into 11 incidents involving Tesla cars where Autopilot and Autosteer were involved in 2021, a probe which ultimately led to today's voluntary recall. He hopes Tesla and NHTSA will pay special attention to roads with cross traffic, because there have been multiple fatal crashes with trucks in that situation involving Tesla vehicles with Autopilot engaged. If people need to steer, for instance, they must pay attention. The Autopilot system will still be helpful if it just does the accelerating and braking but people could not not pay attention."
Persons: Elon, Twitter —, Tesla, Autosteer, Philip Koopman, Koopman, hasn't, Erik Vinkhuyzen Organizations: SpaceX, Twitter, New York Times, National, Traffic, NHTSA, Federal Reserve, Carnegie Mellon University, CNBC, King's College London, CNBC PRO Locations: New York City, U.S
of X Elon Musk speaks during the New York Times annual DealBook summit on November 29, 2023 in New York City. Elon Musk on Sunday reinstated the account of conspiracy theorist Alex Jones on X, formerly Twitter, reneging on a year-ago vow to keep Jones off the social network. Users of the Elon Musk-led X social media platform had anticipated the reinstatement of Jones since at least Thursday, when Musk said he would consider reinstating Jones. Musk said Jones "cannot break the law," but that if he does spread misinformation, X's community notes feature will correct him. X has allowed Tate to monetize his account and Tate has said that he generated tens of thousands of dollars on X, previously.
Persons: Tesla, X Elon Musk, Elon Musk, Alex Jones, Jones, Sandy, Sandy Hook, Infowars, Musk, Andrew Tate —, Tate, monetize, Travis Brown, Jack Sweeney, Aaron Greenspan, MMfA, he's, Donald Trump Organizations: SpaceX, New York Times, Elon, Twitter, Elementary, Sandy Hook Elementary School, Associated Press, Media, America Locations: New York City, Sandy, Newtown , Connecticut, Texas and Connecticut, Romania, New York
At that event, Musk boasted, "It will be the biggest product launch of anything by far on Earth this year." At the event in Austin, Musk said the Cybertruck's hard steel body was bulletproof, and that its windows were "rock proof." Tesla first unveiled the Cybertruck — with its angular and unpainted hard steel body — in November 2019. The covid pandemic and other factors contributed to a two-year delay however, and Tesla only began early Cybertruck production in July this year. The U.S. electric pickup truck market has not expanded as quickly as some thought when the Cybertruck was initially revealed.
Persons: Elon Musk, Musk, Tesla, Rivian, CNBC's Mike Wayland Organizations: Ford, General Motors, Lordstown Motors, GM, CNBC PRO Locations: New York, Austin, U.S
Tesla and SpaceX's CEO Elon Musk reacts during an in-conversation event with British Prime Minister Rishi Sunak in London, Britain, Thursday, Nov. 2, 2023. Speaking at the 2023 DealBook Summit in New York on Wednesday, Elon Musk, the owner of social media site X (formerly Twitter), scoffed at advertisers leaving the platform because of antisemitic posts he amplified there. "The whole world will know that those advertisers killed the company and we will document it in great detail," Musk threatened. Musk told Sorkin on stage that his visit to Israel was planned before his tweets, and were not part of an "apology tour." Previously, Musk had said he wanted to bring SpaceX satellite communications service, Starlink, to the region and specifically to humanitarian organizations in Gaza.
Persons: Tesla, Elon Musk, Rishi Sunak, somebody's, Musk, Bob Iger, Bob, Andrew Ross Sorkin, Paris Mayor Anne Hidalgo, Benjamin Netanyahu, Netanyahu, Sorkin Organizations: British, Disney, Apple, Paris Mayor, SpaceX Locations: London, Britain, New York, Israel, Gaza
Accounts on Threads were also established for the first lady and second gentleman as well as for the White House itself. White House officials repeatedly rebuked Musk for what they called "anti-semitic rhetoric" on X over the last week. Several major advertisers including Apple and Disney subsequently paused their spending on X. Musk defended himself on Sunday, without apologizing or rescinding his statements. The White House said in a statement to CNBC that the launch of the new Threads accounts "has been in process for several weeks." Here's what Biden said in his first post on Threads:"Folks, it's President Biden.
Persons: Joe Biden, Andres Manuel Lopez Obrador, Kamala Harris, Elon Musk's, Musk, Adam Mosseri, Biden, it's, hasn't Organizations: Economic Cooperation, Elon, Defamation League, White House, Apple, Disney, Twitter, CNBC, America Locations: Asia, San Francisco , California, U.S, White, America, China
Cruise founder and CEO Kyle Vogt has resigned from his role at the autonomous vehicle venture owned by General Motors, according to a company statement sent to CNBC on Sunday. Cruise CEO and co-founder Kyle Vogt has resigned from his role at the autonomous vehicle venture owned by General Motors , according to a company statement sent to CNBC on Sunday. Mo Elshenawy, who previously served as executive vice president of engineering at Cruise, will now serve as president and CTO for Cruise, the company said. Vogt confirmed his resignation Sunday night in a social media post on X, formerly known as Twitter. The departing CEO also offered words of encouragement, writing: "Cruise is still just getting started, and I believe it has a great future ahead.
Persons: Kyle Vogt, Mo Elshenawy, Vogt, Cruise Organizations: General Motors, CNBC, Sunday, Cruise, Twitter, California Department of Motor Vehicles, California DMV Locations: San Francisco, California
Elon Musk lashed out at large advertisers and Media Matters, a media watchdog group, on Friday after several major brands decided to pause spending on X, the social media platform he owns and runs as CTO. Discovery , then decided to halt their ad spending, at least temporarily, on the social media platform formerly known as Twitter. In late October, an X user complained that a statue of Confederate general Robert E. Lee was melted down in Charlottesville, Virgina. Last week, Musk agreed with a post falsely claiming that the Jewish people have been pushing "dialectical hatred" against white people. It is not clear whether or when X Corp. will actually file a suit against Media Matters, or in which jurisdiction.
Persons: Elon Musk, Musk, hawked, Joe Benarroch, Confederate, Robert E, Lee, Jonathan Greenblatt, Musk's, Angelo Carusone, Jonathan Vanian Organizations: Media, X Corp, America, Twitter, Apple, Comcast, NBC Universal, Disney, IBM, Lions, Paramount Global, Warner Bros, CNBC, Facebook, Defamation League, Media Matters, Washington , D.C Locations: Charlottesville, Virgina, Jewish, San Francisco, Washington ,
The White House on Friday lashed out at Elon Musk for promoting "Antisemitic and racist hate" after the Tesla CEO and X Corp. owner said he agreed with a social media post accusing "Jewish communities" of pushing "hatred against whites." Musk, responding on X, wrote that that post "said the actual truth." Bates appeared to be referring to the mass murder at the Tree of Life Synagogue in Pittsburgh in 2018, in which 11 people were shot to death by a gunman who expressed a belief in the antisemitic "white genocide" conspiracy theory. "We condemn this abhorrent promotion of Antisemitic and racist hate in the strongest terms, which runs against our core values as Americans," Bates said. Spokespeople for Tesla and X did not immediately respond to CNBC's requests for comment on the White House's statement.
Persons: Elon Musk, Rishi Sunak, Andrew Bates, Bates, " Bates, Musk, Jonathan Greenblatt Organizations: Tesla Inc, Elon, X Corp, Synagogue, Defamation League Locations: London, Pittsburgh, Israel, America
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