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Posts Tagged ‘Musk news’

Musk and Trump: Strange Bedfellows, Indeed

EV innovator hails choice of oil exec for new Sec. of State.

by on Jan.25, 2017

Elon Musk, left, listens intently as President Donald Trump, right, talks during a meeting with leading U.S. tech executives.

At first glance, they might seem to be polar opposites: one has proclaimed his desire to save the world from the effects of global warming and environmental degradation. The other has declared climate change a “hoax” perpetrated by the Chinese, and is kick-starting two controversial oil pipelines while naming a former oil executive to be his new Secretary of State.

True, they both claim to be wealthy entrepreneurs, but the unexpectedly cozy relationship that is developing between Tesla Motors founder and CEO Elon Musk and new President Donald Trump is nonetheless taking many observers, especially those in the environmental community, by surprise.

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It wasn’t necessarily the decision to join the new president’s business advisory board – along with traditional auto industry leader Mary Barra, the CEO of General Motors – nor the White House meeting on Monday. But what really shocked Musk’s legion of fans was his Tuesday announcement endorsing the choice of Rex Tillerson as Trump’s Secretary of State. (more…)

Musk Likely to Face Pressure from Trump Administration

New president's focus on old guard fuels likely to hinder EV guru's companies.

by on Nov.10, 2016

The Tesla Model X earned an award in Germany, but Elon Musk and his company's may not feel so welcome in the U.S. with the next administration.

The Tesla Model X has been honored with Germany’s “Golden Steering Wheel,” one of the automotive world’s most prestigious awards, which has rarely gone to an American vehicle.

The EV maker may want to bask in the friendly glow of the European honor because back home a new and unsympathetic administration in Washington D.C. is moving into the White House.

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Elon Musk, Tesla founder and chief executive officer, has been targeted by Breitbart, the conservative alternative new site favored by President-elect Donald Trump. In the past, Breitbart has criticized Musk for accepting large grants from the federal government. (more…)

Musk’s Big Plans for Tesla Need Big Money – Maybe $12.5B

Founder dispels notion company needs billions in a tweet.

by on Oct.14, 2016

CEO Elon Musk disputes the notion the company will need to raise billions of dollars.

As the latest product news from EV-maker Tesla looms, it’s the money the company will need – with estimates ranging from nothing to $12.5 billion – to meet all of its obligations that seems to be garnering all the attention.

Analysts have been furiously scouring the company’s SEC filings and looking for other clues to see what Tesla will need to spend to bring out new models, complete the acquisition of SolarCity and expand its other operations.

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Additionally, Elon Musk, the company’s founder and CEO, added more to the equation with a recent tweet alerting followers about a new product announcement on Oct. 17. (more…)

Musk Unwrapping Tesla Model 3 Next Spring

Mass-market model production can't start until Gigafactory up-and-running.

by on Sep.03, 2015

Tesla's Elon Musk tweeted recently that the Model X crossover will be slightly more expensive than the Model S sedan.

Any time Elon Musk starts tweeting, Tesla aficionados scramble to see if there’s news or even hints about what’s to come and in a recent string of tweets, he didn’t disappoint.

Musk, the company’s founder, took to social media to talk about both of the California-based EV maker’s anticipated vehicles: the Model 3 and Model X.

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The Model 3, which is slated to be maker’s mass-market entry, is expected to transform Tesla from a money-losing, niche operation into a profitable, high-volume manufacturer, Musk previously laying out a goal of hitting sales of at least 500,000 vehicles annually by decade’s end, or 10 times what he expects in 2016. (more…)

Tesla Offering $500 Million in Stock Offering

EV maker plowing cash into product, Gigafactory development.

by on Aug.13, 2015

Tesla is looking to raise $500 million in capital for product and Gigafactory development.

Days after it reported another quarterly loss and a study shows it’s basically losing $4,000 on every Model S it sells, Tesla Motors is looking for investors to gobble up another $500 million in stock with the EV maker’s latest public offering.

Tesla said it “intends to use the net proceeds from this offering to accelerate the growth of its business in the United States and internationally, including the growth of its stores, service centers, Supercharger network and the Tesla Energy business, and for the development and production of Model 3, the development of the Tesla Gigafactory, and other general corporate purposes.”

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In the spirit of shared sacrifice, Tesla’s founder and CEO, Elon Musk, will buy the first $20 million, according to the automaker. Tesla intends to grant the underwriters a 30-day option to purchase up to $75 million of additional shares of common stock. (more…)

Elon Musk a Bachelor Again

Files for divorce – for second time – from actress wife.

by on Jan.05, 2015

Elon Musk filed for divorce from his second wife, actress Talulah Riley, for a second time.

Apparently, balancing business and pleasure is difficult for South African-born billionaire Elon Musk. The head of battery carmaker Tesla Motors and rocket company SpaceX has filed for divorce – for a second time – from wife Talulah Riley, a British actress.

Depending upon how you count, it becomes the second or third divorce for the handsome, if eccentric, Musk, who had five children with his first wife.

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“Elon Musk and his wife Talulah Riley have announced that they are ending their marriage amicably,” said a brief statement by a spokesman for the couple, noting they filed their petition for divorce with Los Angeles Country Superior Court on New Year’s Eve. (more…)

Tesla Unveiling “Something Else” This Week

by on Oct.06, 2014

Speculation about what's coming on Thursday has run rampant, but most think it's an all-wheel drive Model S.

Last week, Tesla’s CEO Elon Musk sent out a cryptic tweet suggesting something new was coming on Thursday from the California-based EV maker and speculation has centered on what it is.

“About time to unveil the D and something else,” he tweeted.

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The “D” is widely expected to be an all-wheel drive system for the Model S. However, the “something else” may be something much bigger: the beginnings of an autonomous Model S. (more…)

Tesla’s Musk Has No Plans of Leaving CEO Job

Chief exec blames Ford for taking the SEX out of Tesla’s plans.

by on Jun.04, 2014

Tesla founder and CEO Elon Musk told Tesla shareholders he plans to remain in charge of the company for at least the next four or five years.

He may be splitting his long days between carmaking, space exploration and solar cells, but Tesla Motors CEO Elon Musk says he expects to remain in his post at the helm of the battery-carmaker for at least another four or five years.

Musk outlined his plans for Tesla during the maker’s annual shareholders meeting, noting he plans to stick around through the launch of the upcoming Model X sport-ute, as well as a more mainstream battery-car that the company had hoped to call the Model E. But that has apparently run afoul of a trademark at Ford Motor Co., and spoils Tesla’s plans to have a line-up that spelled out SEX.

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“They are killing SEX,” Musk jokingly told shareholders, noting that Ford had threatened to sue Tesla. But he hints there’s another sexy alternative name Tesla is working on. (more…)

Tesla May Build Cars in China

Battery carmaker launches sales, outlines plans for supercharger network.

by on Apr.22, 2014

Tesla delivered its first eight cars in China today. Building the vehicles in China is a possibility in the future, according to CEO Elon Musk.

Tesla Motors has launched what could become its biggest gamble yet, delivering its first cars in China and hinting at plans to produce cars in the booming Asian nation.

The Silicon Valley start-up is already the second best-selling producer of battery-electric vehicles in the U.S. and has already launched sales of its Model S in Europe, but it is betting its timing is right to tap into burgeoning demand in China where the government is desperately pushing for a shift to battery power as a way to reduce the country’s endemic smog problems.

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Tesla today delivered its first eight Model S sedans to Chinese customers, CEO Elon Musk telling reporting he hoped the maker could sell 5,000 of the vehicles in China this year, though he quickly cautioned the number is “just a guess.” (more…)

Tesla May Raise Gigacapital to Build Gigafactory

Maker unlikely to meet demand in China this year.

by on Feb.20, 2014

Tesla CEO Elon Musk said the company would likely need to raise capital if its proposed battery "gigafactory" was to be ready in the next three years.

Tesla Motor’s financial results showed the company’s progress, but the performance of the stock reflects its perceived potential. Now it appears the EV maker is going to leverage that to raise capital.

The company is preparing to announce its plans to develop a “gigafactory” that would produce batteries for its vehicles at a much higher volume and much lower cost, but in order to do it, it’s going to need some cash and now’s the time to get some with the stock price at an all time high.

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“I think that’s a good idea,” said said Elon Musk, Tesla’s founder and leader, during a conference call with analysts yesterday. He declined to comment specifically about the possibility, but allowed if the company were to build the gigafactory within the next three years, raising money to do so would be necessary. Since the announcement for the plan will be next week, it seems getting some more cash is on Tesla’s agenda. (more…)