Author: Business Insider

Tesla Inc chief executive Elon Musk said the electric car company will reimburse customers if delays to car deliveries cause them to miss out on a significant tax credit. Under a major tax overhaul passed by the Republican-controlled U.S. Congress late last year, incentives in the way of tax credits that lower the cost of… Continue reading Elon Musk says Tesla will pay customers if late deliveries lead to a smaller electric vehicle tax credit

BEIJING (Reuters) — Tesla Inc has slashed prices on its Model 3 electric car in China. According to the California-based electric carmaker’s Chinese website, prices of certain Model 3 cars were cut by up to 7.6 percent. The starting price for a Model 3 in China now is 499,000 yuan ($72,000). It was the third… Continue reading Tesla slashed its prices in China yet again — now Chinese customers can snag a Model 3 for a starting price of $72,000 (TSLA)

GM Tech companies and auto companies are all racing to be the first to roll out self-driving cars onto the road. The stakes are high for everyone involved. The self-driving revolution and the prevalence of ride-hailing services such as Uber and Lyft threatens to reduce individual car ownership, which would eat into a sizable piece… Continue reading These are the 5 leaders in the self-driving-car race (GOOG, GOOGL, GM, F)

The past few years have been good for entrepreneurs who were early to the self-driving-car game. In the aftermath of the financial crisis and the bankruptcies of General Motors and Chrysler, markets were focused on the overall health of the auto industry. As far as new technology was concerned, electric cars were considered the future.… Continue reading The CEO of Argo AI, a self-driving startup backed by Ford, reveals the one thing that is absolutely necessary for an autonomous-driving company to survive (F)

Elon Musk revealed what’s next for The Boring Company in a series of tweets on Wednesday, a day after he demonstrated how the underground tunnels the startup is developing would operate in Los Angeles. “Next step for @BoringCompany Loop is demonstrating high throughput at high speed. Target is 4000 vehicles/hour at 155mph (250km/h),” he said.… Continue reading Elon Musk said The Boring Company wants to prove it can send 4,000 vehicles traveling at 155 mph through its tunnels every hour

Autonomous and electric transportation will eventually resemble utilities like electricity, gas, or phone service, Morgan Stanley said in a note to clients on Tuesday. That could spell trouble for Tesla, the investment bank said, as it may not retain access to data from the vehicles it builds in China. Read more: A drone video claims… Continue reading Self-driving, electric transport will eventually be like a public utility — here’s why that could be bad for Tesla (TSLA)

Last month, General Motors announced that it intended to idle five US and Canadian factories amid a shift in the auto industry away from passenger cars toward SUVs. The carmaker has begun to notify the federal government of its layoff plans for the plants that won’t have “allocated” production — in other words, no new… Continue reading GM is issuing layoff notices for 5 US and Canadian factories — but over 1,000 workers are interested in relocating (GM)

Tesla has $920 million worth of debt coming due in March, and it’s reportedly chosen to pay holders of the convertible notes in an unusual fashion. Bloomberg News’ Dana Hull and Molly Smith reported Thursday that the company informed holders of the notes last week that, if they elect to convert the notes, they will… Continue reading Tesla is reportedly planning to pay off its next chunk of convertible debt in an odd way (TSLA)

On Tuesday, Uber’s CEO Dara Khosrowshahi and the head of its self-driving car unit, Eric Meyhofer, stood up at an all-hands meeting to a smattering of polite applause. Behind them on a large screen was a list of questions submitted and voted on by employees, indicating the burning questions employees wanted their leaders to address.… Continue reading ‘We have screwed up’: Uber CEO Dara Khosrowshahi says in an all-hands meeting that the company deserves some fault after its self-driving car killed a pedestrian

SHANGHAI (Reuters) – The U.S. head of Nio, an electric carmaker seen as one of the main Chinese rivals to Tesla, will leave the company, the firm said in a filing on Friday, the first major management departure since its September IPO. Padmasree Warrior, chief executive officer of NIO USA and global chief development officer,… Continue reading Chinese Tesla competitor NIO loses its US chief executive, Padmasree Warrior