Tesla told workers at its Fremont, California factory it would temporarily shut down production, a source told Bloomberg. The Tesla Model 3 line shutdown would last from February 22 to March 7, the source said. Tesla said last month that production could be impacted by the global semiconductor shortage. Visit the Business section of Insider… Continue reading Tesla has reportedly temporarily halted production on its Model 3 line in California
Tag: Tesla
Tesla shuts down Model 3 production line for 2 weeks amid chip shortage
Tesla is shutting down a Model 3 production line at Fremont factory for 2 weeks amid an industry-wide microchip shortage. According to a new report from Bloomberg, Tesla has informed employees from a Model 3 production line at Fremont factory that their line is being shut down until March 7: “Workers on a Model 3… Continue reading Tesla shuts down Model 3 production line for 2 weeks amid chip shortage
Tesla prepares cloud-based driver profile ahead of ‘Tesla Network’ ride-hailing app launch
Tesla is preparing to move all driver data and settings into the cloud ahead of the launch of its “Tesla Network” ride-hailing app launch. Driver profiles exist in Tesla vehicles and are linked to keys (or phones through the Tesla app) in order to automatically have your seat, mirror, music settings, etc. set in your… Continue reading Tesla prepares cloud-based driver profile ahead of ‘Tesla Network’ ride-hailing app launch
Air taxi startup Joby to go public in $6.6 billion blank-check deal
Joby is the first aerial vehicle startup to go public via the SPAC route. By Paul Lienert and Anirban Sen Joby Aviation, the 12-year-old electric air taxi startup partnered with Toyota Motor Corp and Uber Technologies, will go public in a $6.6 billion reverse merger with blank check company Reinvent Technology Partners, the firms said… Continue reading Air taxi startup Joby to go public in $6.6 billion blank-check deal
Lucid Motors’ SPAC skids as $56 billion valuation sparks bubble concerns
By Akanksha Rana, Noor Zainab Hussain 4 Min Read (Reuters) – Shares of Churchill Capital IV Corp fell more than 40% on Tuesday, as its merger with electric vehicle maker Lucid Motors sparked concerns about the real worth of the company which has yet to start regular production. FILE PHOTO: The Lucid Air speed test… Continue reading Lucid Motors’ SPAC skids as $56 billion valuation sparks bubble concerns
Lucid Motors is set to go public with a $24 billion valuation. It probably couldn’t have happened without billions in Saudi money.
Electric vehicle startup Lucid Motors plans to go public via SPAC at a $24 billion valuation. The company struggled for years before getting $1.3 billion from Saudi Arabia in 2019. The deal increases Saudi Arabia’s ownership stage from 67% to 85%. Visit the Business section of Insider for more stories. Somewhere out there, there’s a… Continue reading Lucid Motors is set to go public with a $24 billion valuation. It probably couldn’t have happened without billions in Saudi money.
Nikola could fall 30% as ‘ambitious’ profit forecasts and Tesla’s first-mover advantage weigh on valuation, CFRA analysts say (NKLA, TSLA)
Nikola truck prototype. Nikola CFRA analyst Garrett Nelson initiated coverage on EV maker Nikola with a “sell” rating and a $15 price target. The price target implies a nearly 30% drop from Monday’s closing price. Nelson said Nikola has “ambitious” profit forecasts and faces stiff competition from Tesla and others. Watch Nikola trade live here.… Continue reading Nikola could fall 30% as ‘ambitious’ profit forecasts and Tesla’s first-mover advantage weigh on valuation, CFRA analysts say (NKLA, TSLA)
ChargeLab raises seed capital to be the software provider powering EV charging infrastructure
As money floods into the electric vehicle market a number of small companies are trying to stake their claim as the go-to provider of charging infrastructure. These companies are developing proprietary ecosystems that work for their own equipment but don’t interoperate. ChargeLab, which has raised $4.3 million in seed financing led by Construct Capital and… Continue reading ChargeLab raises seed capital to be the software provider powering EV charging infrastructure
Tesla voids your warranty if you try to power your home with your electric car battery pack
Tesla is voiding your warranty if you try to power your home with your electric car battery pack – something that more people have been looking into following power outages in some areas in the US. While Tesla vehicles are not equipped with bidirectional charging enabling vehicle-to-grid or vehicle-to-home features, there’s actually a way to… Continue reading Tesla voids your warranty if you try to power your home with your electric car battery pack
Lucid Motors’ $24 billion blank-check deal sparks bubble concerns
By Akanksha Rana, Noor Zainab Hussain 4 Min Read (Reuters) – Electric vehicle sensation Lucid Motors has set the market alight this week with a $24 billion blank check deal to list in New York, but it has also sparked concerns among some investors of a short circuit in the valuation of electric vehicle makers.… Continue reading Lucid Motors’ $24 billion blank-check deal sparks bubble concerns