New competitors are on the way, too. This year, General Motors is supposed to start making electric versions of its Chevrolet Silverado pickup and Chevrolet Blazer and Equinox sport utility vehicles. Tesla has also had trouble in China, its largest market, where a local manufacturer, BYD, is now the No. 1 electric vehicle brand. Tesla… Continue reading Tesla Cuts Prices Sharply as It Moves to Bolster Demand
Author: New York Times Online News
Uber Drivers Say They Are Struggling: ‘This Is Not Sustainable’
But it has not been enough for Ishtiaq Ahmed, 42, who works for Uber and Lyft and lives with his wife and four children in Brooklyn. Mr. Ahmed said that, more than a decade ago, he used to earn $700 to $800 a day with the app services. Now, he is lucky to make $140.… Continue reading Uber Drivers Say They Are Struggling: ‘This Is Not Sustainable’
Electric Vehicles Could Match Gasoline Cars on Price This Year
Declines in new car prices are pushing down used electric vehicle prices, too. They have fallen 17 percent since July, according to Recurrent, which tracks the used car market. That’s largely because Tesla cut the price of the Model 3 and G.M. lowered the price of the Chevrolet Bolt by almost $6,000 last year. Under… Continue reading Electric Vehicles Could Match Gasoline Cars on Price This Year
Energy Department Will Loan $2 Billion to Redwood Materials
The Energy Department on Thursday announced a $2 billion loan to help a Nevada company step up production of critical components of electric vehicle batteries. The company, Redwood Materials, plans to use the loan to expand a manufacturing campus near Reno, Nev., where it makes some of the components from new and recycled sources. The… Continue reading Energy Department Will Loan $2 Billion to Redwood Materials
General Motors Reaches Deal to Ensure Its Chip Supply
General Motors has reached an agreement with a large computer chip maker to help ensure it has a steady supply of semiconductors as it ramps up production of electric vehicles and complex components that require increases in computing power. Under the agreement, the chip maker, GlobalFoundries, agreed to set aside a portion of its manufacturing… Continue reading General Motors Reaches Deal to Ensure Its Chip Supply
Elon Musk Said Tesla Buyout Plan Didn’t Involve ‘a Specific Number’
Under direct questioning by a federal judge on Tuesday, Elon Musk could not say exactly how much money investors were considering putting into his 2018 proposal to take Tesla off the stock market. Mr. Musk wrote on Twitter on Aug. 7, 2018, that he had “funding secured” for the deal. But during his last day… Continue reading Elon Musk Said Tesla Buyout Plan Didn’t Involve ‘a Specific Number’
Elon Musk Says He Could Have Raised Funds to Take Tesla Private
Elon Musk said on Monday that he had not lied or misspoken about his plan to take Tesla off the stock market in 2018, testifying in federal court that Saudi Arabia’s sovereign wealth fund had “unequivocally wanted to take Tesla private.” Investors are suing Mr. Musk, Tesla and the company’s board because they contend that… Continue reading Elon Musk Says He Could Have Raised Funds to Take Tesla Private
Elon Musk Testifies That His Tweets Did Not Drive Tesla’s Stock Price
In his testimony, Mr. Musk said he thought Twitter was “the best way to communicate with people,” including “investors, big and small.” He also said he used Twitter to share memes, a comment that drew laughter from some people watching the trial. Mr. Musk also acknowledged that in July 2018 his associates and friends, including… Continue reading Elon Musk Testifies That His Tweets Did Not Drive Tesla’s Stock Price
Elon Musk’s Appetite for Destruction
And yet, as Robert Lowell wrote, “No rocket goes as far astray as man.” In recent months, as the outrages at Twitter and elsewhere began to multiply, Musk seemed determined to squander much of the good will he had built up over his career. I asked Slavik, the plaintiffs’ attorney, whether the recent shift in… Continue reading Elon Musk’s Appetite for Destruction
Elon Musk Goes to Trial Over His 2018 Plan to Take Tesla Private
More than four years after he said he had secured the funding to take Tesla off the stock market, Elon Musk will try to defend that statement in a trial that began on Tuesday in a federal court in San Francisco. The case is brought by investors who claim Mr. Musk, the electric automaker’s chief… Continue reading Elon Musk Goes to Trial Over His 2018 Plan to Take Tesla Private