A third Tesla car factory in the US is likely, Elon Musk said on a podcast released Monday. Tesla announced in July that its second US car factory would be in Austin, Texas. It’s also building a Gigafactory in Europe, near Berlin, Germany, and operates one in Shanghai, China. Visit Business Insider’s homepage for more… Continue reading Elon Musk says a third Tesla car factory in the US is ‘likely’ after it finishes Austin and Berlin construction (TSLA)
Tag: Tesla
Elon Musk says Tesla will create a normal pickup truck if the Cybertruck doesn’t sell, as a ‘fallback strategy’ (TSLA)
Despite hundreds of thousands of Cybertruck pre-orders, Elon Musk told Automotive News that Tesla will build a “normal truck, no problem” if people don’t buy the unique design. An exact number or pre-orders isn’t known. Musk has previously said Tesla had crossed 200,000 pre-orders since the Cybertruck was revealed in November, but a Wedbush analyst… Continue reading Elon Musk says Tesla will create a normal pickup truck if the Cybertruck doesn’t sell, as a ‘fallback strategy’ (TSLA)
Tesla competitor Nio surges 13% after reporting July deliveries skyrocketed (NIO)
Ng Han Guan/Associated Press Shares of Nio, a Chinese competitor to Tesla, surged as much as 13% Monday after the company reported an uptick in July deliveries. The company announced Monday that it delivered 3,533 vehicles in July, a more than 322% increase from the same month a year ago. So far in 2020, Nio… Continue reading Tesla competitor Nio surges 13% after reporting July deliveries skyrocketed (NIO)
Elon Musk defends calling Tesla’s software ‘Autopilot’ and says criticism that the name is misleading is ‘idiotic’ (TSLA)
Elon Musk lashed out against critics of Tesla’s Autopilot in a new interview. Tesla’s CEO said suggestions that a name change would improve safety are ‘idiotic.’ The driver-assistance software has been linked to a handful of crashes, including multiple deaths. Visit Business Insider’s homepage for more stories. Tesla’s Autopilot software has been linked to multiple… Continue reading Elon Musk defends calling Tesla’s software ‘Autopilot’ and says criticism that the name is misleading is ‘idiotic’ (TSLA)
Lordstown Motors to merge with acquisition company, go public
Detroit — Electric vehicle startup Lordstown Motors Corp. and DiamondPeak Holdings Corp. have entered into a $1.6 billion merger agreement that will result in Lordstown becoming publicly listed, the two companies said Monday. Lordstown’s merger with the special purpose acquisition company is viewed as a way to aid in the development of Lordstown’s all-electric pickup truck, the Endurance, which was unveiled… Continue reading Lordstown Motors to merge with acquisition company, go public
Ferrari expects at least 1 billion euros profit in 2020
Daniele Lepido, Bloomberg Published 9:53 a.m. ET Aug. 3, 2020 | Updated 10:02 a.m. ET Aug. 3, 2020 Ferrari NV narrowed the range of its full-year profit guidance toward the lower end after the supercar-maker was forced to shutter factories for seven weeks because of the coronavirus pandemic. Ferrari, controlled by the Agnelli family’s investment… Continue reading Ferrari expects at least 1 billion euros profit in 2020
Elon Musk: Tesla Cybertruck Created With Zero Market Research, Could Flop
The Tesla Cybertruck reveal was one of those events that broke the internet. It gained so much notoriety so quickly that it has to be acknowledged as being the star of one of the most memorable automotive unveiling venues of recent years. However, its success seems to have been a mere fluke, since we’ve now… Continue reading Elon Musk: Tesla Cybertruck Created With Zero Market Research, Could Flop
EV maker Lordstown Motors to go public by merging with blank check firm
(Reuters) – Lordstown Motors has agreed to go public through a merger with blank-check company DiamondPeak Holdings in a deal that values the electric pickup truck start-up at pro forma equity value of $1.6 billion, the companies said on Monday. The combined company will be called Lordstown Motors Corp following the closure of the deal… Continue reading EV maker Lordstown Motors to go public by merging with blank check firm
German Manager Magazin: Northvolt Secures $ 1.6 Billion for Battery Factory000001
The Swedish Battery producer Northvolthas secured loans totaling $ 1.6 billion for the massive expansion of its production. The company announced on Wednesday in Stockholm. Donors include other banks, pension funds and financial institutions, including the European Investment Bank (EIB), which provides $ 350 million. This enables the company, which as a partner as from… Continue reading German Manager Magazin: Northvolt Secures $ 1.6 Billion for Battery Factory000001
Chinese electric vehicle maker Xpeng said to raise another $300m
Chinese electric vehicle (EV) maker Xpeng Motors has raised an additional $300 million from investors including Qatar’s sovereign wealth fund, people familiar with the matter said. As enthusiasm builds for EVs, shares of their makers such as Tesla Inc and Nio Inc have surged in recent months and automakers are looking to the markets for funds. Six-year-old Xpeng,… Continue reading Chinese electric vehicle maker Xpeng said to raise another $300m