Author: Business Insider

Nearly three days after Tesla CEO Elon Musk said he had secured the funding necessary to take Tesla private, pending a shareholder vote, neither he nor the company has disclosed where that money could come from. One possible explanation: Tesla and its board of directors don’t know. While Tesla’s board released a statement on Wednesday… Continue reading Elon Musk’s ‘funding secured’ tweet could cost Tesla millions, former SEC chairman says (TSLA)

The valuation estimates keep climbing for Alphabet ‘s self-driving car unit, Waymo. In a note to clients Tuesday, Morgan Stanley estimated the division, which graduated from Google’s secretive X lab to full-fledged subsidiary in 2016, could now be worth a whopping $175 billion thanks to three key business areas. “One of the most common Waymo… Continue reading Waymo is worth $100 billion more than previous estimates, Morgan Stanley says (GOOGL)

Indian ride-hailing company Ola plans to launch in the UK, signalling more competition for incumbent Uber. Ola will open operations in Greater Manchester and south Wales, including capital Cardiff, within the next month. The company said it was working with regulators to launch nationwide by the end of the year, but is yet to submit… Continue reading Indian cab-hailing giant Ola will launch in the UK to challenge Uber — and they both share a big investor

Tesla’s CEO, Elon Musk, and CTO, JB Straubel, suggested the company may not hit its goal of making 1 million vehicles by 2020 during its second-quarter earnings call on Wednesday. After Wall Street Journal reporter Tim Higgins asked if the company still planned to make 1 million vehicles in 2020, Musk and Straubel said that… Continue reading Elon Musk backs off Tesla’s goal of making 1 million vehicles by 2020 (TSLA)

Tesla CEO Elon Musk said the company will start rolling out “breakthrough” features to its semi-autonomous Autopilot software in around four weeks during the company’s second-quarter earnings call on Wednesday. Musk said some customers would begin receiving the update in around four weeks and all Tesla customers who purchased Autopilot would receive the update in… Continue reading Elon Musk said ‘breakthrough’ Autopilot features to arrive soon (TSLA)

Tesla revealed the cars people are giving up in favor of its Model 3 sedan on Wednesday during the company’s second quarter 2018 earnings call. According to Tesla, the most commonly traded in models include the Honda Accord, Honda Civic, Toyota Prius, Nissan Leaf, and BMW 3 Series. Even though Tesla sees the Model 3… Continue reading Tesla says these are the 5 cars people are trading in for the Model 3 (TSLA)

Tesla expects to make 6,000 Model 3 sedans in a week by the end of August, the company said in its second-quarter earnings letter, and a total of 50,000 to 55,000 Model 3s in the third quarter. In 2019, the company expects to make 10,000 Model 3s per week. While most of its production lines… Continue reading Tesla expects to make 6,000 Model 3s per week by the end of August (TSLA)

Some reservation-holders for Jaguar’s electric I-Pace SUV have been told their delivery dates will be delayed by three to four months, Electrek first reported. The publication said Jaguar dealerships are telling customers that manufacturing difficulties are responsible for the delay. A Jaguar representative told Business Insider some deliveries were being delayed because of “exceptional global… Continue reading Jaguar is delaying some orders of its Tesla rival and blaming high demand

Tesla CEO Elon Musk said on Monday that the company is attempting to eliminate contracts for its customers and simplify the return process. Musk was replying to a Twitter user who said his sister-in-law had experienced a delay with the contract for her Model X SUV. “We’re trying to get rid of contracts completely. Should… Continue reading Elon Musk said Tesla wants to eliminate contracts for its customers (TSLA)

Electric-scooter sharing startups are racing to become as dominant as Uber or Lyft in this wacky and well-funded transportation business that’s revolutionizing transit in America. At the same time, Uber is learning that it may need to end up dominating scooter-sharing, before companies like Bird, Lyft, and Ofo cannibalize its core car-hailing business. On Thursday,… Continue reading Uber just hinted it could be in serious trouble if it doesn’t conquer the market for electric bikes and scooters