Tesla News
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Tesla and its CEO Elon Musk settled a lawsuit with the Securities and Exchange Commission on Saturday that will result in a $40 million fine and a new chairman of Tesla's board of directors. The lawsuit was filed after Musk claimed "funding secured" in tweet as he floated the idea of taking the automaker private on Aug. 7. DON'T MISS: DOJ wants to know if Tesla CEO Elon Musk broke the law in going-private tweets Tesla will pay a $20 million fine and Musk will pay a $20 million fine as part of the settlement, and Musk will step down as chairman of the board for at least three years, with two...
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SEC sues Tesla CEO Elon Musk for lying about funding, seeks to bar him from running Tesla
Note to readers: This story has been updated from its original version with comment from Musk. Federal regulators said Thursday in a lawsuit that Tesla CEO Elon Musk intentionally misled investors last month when he tweeted that he had "funding secured" to buy back millions of dollars in shares...
Aaron Cole -
DOJ wants to know if Tesla CEO Elon Musk broke the law in going-private tweets
On August 7 Tesla CEO Elon Musk tweeted about taking the automaker private. While it may have seemed to slip out of the news, the tweet had not slipped the minds of federal agencies. The Wall Street Journal reported on Tuesday that the Department of Justice (DOJ) now has an open investigation into...
Joel Feder -
Walmart plans to purchase 30 more Tesla Semis
After placing an order for 15 Tesla Semis, Walmart is keen to buy even more. The discount retailer plans to purchase 30 additional electric semi-trucks from the Silicon Valley automaker. Reuters reported Thursday that the 30 additional Tesla Semi trucks would operate in Canada and join 10 trucks...
Sean Szymkowski -
Tesla Roadster makes European debut at 2018 Grand Basel show
Tesla's big surprise the company promised for this week's 2018 Grand Basel show in Switzerland has turned out to be a mockup of the second-generation Roadster, this one finished in white. It was hoped we might see a production-ready example of the new Roadster, which Tesla has promised for delivery...
Viknesh Vijayenthiran -
Spurred by Tesla, Koenigsegg aiming for 250 mph in 14 seconds
Koenigsegg currently produces the world's fastest production car in the Agera RS, but the company isn't stopping there. Especially not after learning how quickly the 2020 Tesla Roadster will accelerate. Speaking to Top Gear in a Friday report, founder and namesake, Christian von Koenigsegg, told...
Sean Szymkowski -
The turn signal is one of the most essential passive safety measures onboard every single new car. Yet, millions of drivers choose to ignore the ability, and let's face it, the decision puts other drivers at risk. Tesla appears ready to flick the indicators whether a driver likes it or not. The Silicon Valley-based electric car manufacturer has filed for a patent that flashes the left or right turn signal when drivers forget (or choose not to) use them. According to the patent, the technology relies on the Autopilot electronic driver aid to sense if other cars are nearby. If it detects the...
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Tesla has a surprise reveal for Grand Basel show; is it the production Roadster?
The Grand Basel show in Switzerland will play host to a new Tesla reveal, the electric car manufacturer confirmed Friday. Tesla sent invites to owners declaring it has a "surprise" to showcase at the show that celebrates all things design, as well as "automotive masterpieces." Noting the show's...
Sean Szymkowski -
This Audi S5 has a Tesla Model S powertrain
Engine swaps are an integral part of automotive culture. For decades, gearheads have ripped out factory engines and replaced them with something superior, at least in their eyes. Perhaps the powertrain in the Tesla Model S will soon become the GM LS V-8 swap of the future for those who prefer...
Sean Szymkowski -
New Tesla Roadster acceleration makes Jay Leno scream
In November 2017, Tesla showed us "one more thing" at the company's reveal of its Semi. That "thing" turned out to be the second-generation Roadster, planned for 2020. And at the debut event, Tesla gave depositors their first rides in the future electric sports car. Now, Jay Leno has had his turn...
Sean Szymkowski -
Volkswagen was reportedly Tesla's backer to go private
Volkswagen may have offered to come to Elon Musk's rescue but the Tesla CEO turned down funding from the German automaker and others to take his company private, according to a report from The Wall Street Journal on Monday. Elon Musk started a circus Aug. 7 when he tweeted about taking Tesla...
Joel Feder -
Elon Musk decides to keep Tesla public, board agrees
After a 17-day roller coaster, Tesla [NASDAQ: TSLA] CEO Elon Musk announced Friday via a blog post on the automaker's website that Tesla will remain a publicly traded company. The announcement comes more than two weeks after Musk tweeted his idea of taking Tesla private at $420 per share and said...
Joel Feder -
Readers may not recognize the Kalashnikov name, but they will recognize one of its best-known products: the AK-47 assault rifle. Now, the same company has decided to gun for the electric car market. It's called the CV-1 and the Russian firm unveiled the car at the 2018 International Military Technical Forum in Kubinka, Russia. Autocar reported Friday that the CV-1 is meant to recall the 1970s Izh 2125 Combi with retro design cues. It's hard to believe this is a new vehicle given its design. The look is, indeed, retro-inspired and the ride height and wheel combination makes the CV-1 look like...
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Opinion: It's time for Tesla's Elon Musk to step aside
It’s hard to overstate Elon Musk’s contributions to the 21st century. As one of PayPal’s founders, Musk cemented his fortune. As the dreamer behind SpaceX, he cemented his vision for humanity’s future. As Tesla’s CEO, he’s created an automaker that not only...
Aaron Cole -
SEC subpoenas, board surprised, investor lawsuits: Tesla woes mounting?
A reported subpoena from the Securities and Exchange Commission may add to the long list of growing worries for Tesla and its embattled CEO Elon Musk that now includes potential investor lawsuits, federal inquiries, and reports that the automaker's board of directors may not have been fully briefed...
Joel Feder -
Elon Musk says talks with Saudis led him to tweet "funding secured"
Tesla [NYSE: TSLA] CEO Elon Musk provided insight Monday behind his "funding secured" comment made last week when he floated the idea of taking the automaker private. Musk released a statement on Tesla's blog and wrote the sovereign wealth fund of Saudi Arabia approached him multiple times in the...
Joel Feder -
Report: SEC inquired about Elon Musk's tweet regarding taking TSLA private
The Internet and financial industry weren't the only ones to take notice Tuesday when Tesla CEO [NYSE: TSLA] Elon Musk took to Twitter floating the idea of taking the automaker private. The Wall Street Journal reported Wednesday that SEC investigators could be looking into a variety of violations...
Joel Feder -
Elon Musk isn't kidding, Tesla board confirms TSLA could go private
Elon Musk disrupted multiple industries on Tuesday when the Tesla CEO [NASDAQ: TSLA] took to Twitter to float the idea of taking the Silicon Valley automaker private. Musk mused Tesla could be bought back at $420 per share. On Wednesday morning, multiple members of Tesla's board of directors signed...
Joel Feder -
Update: 3:53 pm EST: Tesla stock is now trading again. It opened today at $341.99 and is up 10.61 percent at $378.26 currently. ------------------------------------------ Update 3:44 pm EST: Tesla released a statement that was emailed to employees earlier today laying out the potential of taking Tesla private at $420 per share in a bid to insulate the company from news fluctuations on its capital. The change would be in an effort to focus on executing on the automaker's long-term vision of sustainable transportation. Musk laid out that he currently holds "about 20 percent of the company now"...
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Tesla Model S, X to receive spartan Model 3 interior design
Tesla's Model S and Model X haven't been put on the back burner as the electric car brand focuses on the Model 3. According to images published by Electrek on Monday, both the larger sedan and SUV models are in for interior refreshes. (Current Model S interior shown.) Hopefully fans and buyers...
Sean Szymkowski -
Elon Musk says future Teslas will be like K.I.T.T. with AI
Twitter makes it incredibly easy to gain insight into what Tesla CEO Elon Musk is thinking, for better or worse. On Sunday, Musk let slip on the social media platform that future Teslas will be reminiscent of K.I.T.T. of "Knight Rider" fame, complete with artificial intelligence. Musk replied to a...
Sean Szymkowski -
Collector car expert Hagerty rates Tesla Model S car of the decade
Hagerty is always on the hunt for the next great collectible car. Such a machine should be considered exemplary amongst automobiles built during the same era. So which future classic fits the mold for the decade starting 2010? According to the insurance specialist, the greatest car of the 2010s is...
Jeff Glucker -
German Tesla Model S owners told to repay $4,650 electric car subsidy
Hundreds of Tesla Model S owners in Germany will be required to repay a $4,650 electric car subsidy after the country's Federal Office for Economic Affairs and Export Control ruled the car does not qualify. Around 800 owners will be responsible for the sum after the agency declared the Model S is...
Sean Szymkowski -
Tesla is the first automaker to lose electric car federal tax credit
Soon, Tesla electric cars will cost up to $7,500 more as the automaker is first to reach the 200,000-vehicle threshold for federal tax credits. It means the tax incentives will enter a phase out period. Green Car Reports confirmed with Tesla Thursday that the automaker had passed the 200,000-car...
Sean Szymkowski