Author: Business Insider

As Wall Street analysts worry that demand for Tesla vehicles is waning, CEO Elon Musk told employees that the company has received more than 50,000 new orders this quarter. That number was disclosed to all Tesla employees in an email sent late Wednesday, a copy of which was viewed and confirmed authentic by Business Insider.… Continue reading Elon Musk tells Tesla employees in leaked email that customer demand is still high, despite the stock crashing in recent weeks (TSLA)

Elon Musk has promised yet another sprint of financial discipline at Tesla. In an email to company employees Thursday, parts of which were published by the blog Electrek, Musk said Tesla had about 10 months’ worth of cash at its current burn rate to achieve breakeven. He also announced a new cost-cutting initiative in which… Continue reading Elon Musk says in email to employees that new cost-cutting measures are the ‘only way for Tesla to become financially sustainable’ (TSLA)

Tesla has raised the price of its least-expensive Model 3 sedan from $35,000 to $35,400, CNN reported. The electric-car maker did not immediately respond to Business Insider’s request for comment about the change. While the reported price increase is relatively small, Tesla had touted the Model 3’s $35,000 entry-level price before it started taking reservations… Continue reading You can no longer buy a $35,000 Tesla Model 3 — the price just went up (TSLA)

Tesla CEO Elon Musk’s timeline to have an autonomous ride-hailing service ready by next year is too aggressive, Uber CEO Dara Khosrwoshahi told CNBC on Friday. “I thought, if he can do it, more power to him,” Khosrwoshahi said. “Our approach is a more conservative approach, as far as sensor technology and mapping technology. The… Continue reading Uber CEO Dara Khosrowshahi said Elon Musk won’t be able to hit his goal of putting Tesla robotaxis on the road next year (TSLA)

In April, Tesla CEO Elon Musk had harsh words for the sensor technology that most self-driving cars companies rely on, but on Wednesday executives at Alphabet’s Waymo,who pioneered that tech defended their approach. Musk’s attack was centered on the honeycomb-looking sensors — known as lidar — that Waymo and other companies like Uber, Ford, and… Continue reading Waymo’s top scientist and CTO explain why Elon Musk’s approach to self-driving cars is ‘very risky’ (GOOG, GOOGL)

In a conference with analysts at the end of April this year, Musk confirmed Tesla was working on a new insurance policy for its own vehicles. Musk said in Manager Magazin that the product will be “more overwhelming than anything else out there”, and also explained that, for autopilot, insurance rates would be measured based… Continue reading Elon Musk hits back at Warren Buffett after he knocked Tesla’s plans to sell insurance

Tesla vehicles can determine which parts need to replaced and order new ones, the electric-car maker announced Monday on Twitter. “Our cars can keep tabs on certain components to let you know if they need replacing and order parts ahead of your next service visit,” the company said. Read more: ‘Funding secured at $240-ish’: Tesla… Continue reading Tesla cars can now figure out which parts need to be replaced and order new ones (TSLA)

Just three days into its IPO roadshow, Uber has already garnered enough demand to sell its full 180 million shares, Bloomberg reported Tuesday, citing anonymous sources familiar with the matter. The ride-hailing giant is expected to net a valuation of up to $90 billion when it prices next week on May 9, the company said… Continue reading Uber’s IPO is reportedly sold-out just three days into its investor road show

PayPal will invest $500 million in Uber, the ride-hailing company revealed in an updated IPO filing on Friday. Uber is preparing to go public on the New York stock exchange, and set its share price at $44 to $50 per share in an amended S-1 filing to the SEC. At the high end, this price… Continue reading PayPal is investing $500 million into Uber as part of the ride-hailing firm’s $90 billion IPO