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SEC Letters Show That Tesla Failed to Oversee Elon Musk's Public Communications As Directed

SEC Letters Show That Tesla Failed to Oversee Elon Musk's Public Communications As Directed

The Wall Street Journal reports that correspondence sent to Tesla in 2019 and 2020 from the SEC said tweets Elon Musk wrote about Tesla's solar roof production volumes and its stock price were not pre-approved by Tesla's lawyers. The vetting of Musk's communications is part of a 2018 settlement with the SEC after a tweet by Musk about taking Tesla private at a $420 a share.

Eric Walz2021-06-02 13:00 PT

The NTSB Determines That Tesla’s Autopilot Was Not Active in a Fatal Crash in Texas After Investigators Claimed ‘No One Was in the Driver’s Seat’

The NTSB Determines That Tesla’s Autopilot Was Not Active in a Fatal Crash in Texas After Investigators Claimed ‘No One Was in the Driver’s Seat’

After an investigation into a Tesla Model S crash in Texas that killed two passengers, the National Traffic Safety Board (NTSB) determined that Autopilot could not have been active without a driver behind the wheel. Local police claimed there was no one in the driver’s seat at the time of the crash, fueling rumors that Tesla's Autopilot could be somehow engaged without a driver behind the wheel.

FutureCar Staff 2021-05-10 16:00 PT

Tesla Engineer Tells the California DMV That Elon Musk’s Goal of Achieving Full Self-Driving by the End of 2021 Does Not ‘Match Engineering Reality’

Tesla Engineer Tells the California DMV That Elon Musk’s Goal of Achieving Full Self-Driving by the End of 2021 Does Not ‘Match Engineering Reality’

During a Tesla earnings call in January, Musk said that he was "highly confident the car will be able to drive itself with reliability in excess of human this year." But Musk’s tweet does not reflect that of Tesla’s own Autopilot engineers, a new memo confirms. After an early March conference call with Tesla representatives and the California DMV, Tesla Autopilot engineer CJ Moore wrote in a memo that "Elon's tweet does not match engineering reality.”

FutureCar Staff 2021-05-07 15:30 PT

Tesla Reports is Highest Quarterly Profit Ever, Predicts the Model Y Could Become the World’s Best Selling Vehicle of Any Kind

Tesla Reports is Highest Quarterly Profit Ever, Predicts the Model Y Could Become the World’s Best Selling Vehicle of Any Kind

As competition heats up in the electric vehicle space, pioneer Tesla proved that it’s still the undisputed leader in the auto industry. On Monday, Tesla reported its highest quarterly profit ever with a GAAP net income of $438 million. Tesla’s non-GAAP net income surpassed $1 billion for the first time in its history due to brisk sales of the Model 3 and Model Y.

Eric Walz2021-04-27 12:15 PT

Tesla Chief Elon Musk Assures Customers in China That its Vehicle Cameras Are Not Active, Addressing Recent Security Concerns

Tesla Chief Elon Musk Assures Customers in China That its Vehicle Cameras Are Not Active, Addressing Recent Security Concerns

Last month the Chinese military banned Tesla cars from entering its complexes in China, citing security concerns over cameras in its vehicles. So Tesla Chief Executive Elon Musk is downplaying the security threats of models sold in China, assuring customers on social media that Tesla's "Sentry Mode" cameras are not active outside of the U.S.

FutureCar Staff 2021-04-07 08:00 PT

Elon Musk Says You Can Now Buy a Tesla With Bitcoin

Elon Musk Says You Can Now Buy a Tesla With Bitcoin

Tesla Chief Executive Elon Musk said on Wednesday that you can now buy a Tesla electric vehicle with Bitcoin, which might help to boost acceptance of the use of cryptocurrency in the auto industry.

Eric Walz2021-03-24 07:40 PT

Tesla is Building a Massive Battery to Connect to the Texas Power Grid

Tesla is Building a Massive Battery to Connect to the Texas Power Grid

Tesla subsidiary Gambit Energy Storage LLC is building a giant energy storage battery that will be connected to the Texas power grid, Bloomberg reports. The massive battery could power roughly 20,000 homes on a hot summer day. Public documents confirmed Tesla’s role in the project.

Eric Walz2021-03-08 07:55 PT

Elon Musk Says Tesla’s California Factory Was Forced to Close for Two Days Due to Parts Shortages

Elon Musk Says Tesla’s California Factory Was Forced to Close for Two Days Due to Parts Shortages

The global chip shortages that have been plaguing the auto industry this year has apparently hit electric automaker Tesla Inc., the world’s most valuable car company, according to sources that spoke to Reuters. The sources said they were not aware of a reason for the production cuts, but one person said the ongoing chip shortage affecting the auto industry is at least partially to blame.

FutureCar Staff 2021-02-25 15:45 PT

Tesla Invests $1.5 Billion in Bitcoin, Plans to Accept the Cryptocurrency as Payment in the Near Future

Tesla Invests $1.5 Billion in Bitcoin, Plans to Accept the Cryptocurrency as Payment in the Near Future

Electric vehicle maker Tesla invested $1.5 billion in bitcoin, the cryptocurrency that allows for secure, peer-to-peer instant payments. The company's plan to accept bitcoin as a form of payment is unprecedented in the auto industry. Tesla is expected to start accepting the digital currency in the near future.

Eric Walz2021-02-08 10:55 PT

Tesla’s Market Value Tops $800 Billion for the First Time, But Can the Company Sell Another 500,000 Vehicles in 2021?

Tesla’s Market Value Tops $800 Billion for the First Time, But Can the Company Sell Another 500,000 Vehicles in 2021?

​Electric automaker Tesla became the world’s most valuable car company in 2020. But Tesla’s meteoric rise did not end there. The company's stock has continued to climb and now for the first time Tesla’s market cap has surpassed $800 billion. However, in order to justify Tesla’s soaring value, the company will need to sustain its sales momentum throughout 2021 and beyond. But there are indications that Tesla will have a difficult time matching the success in 2020.

Eric Walz2021-01-08 12:15 PT

Tesla’s Market Value Tops $500 Billion as the Company Nears its S&P 500 Debut

Tesla’s Market Value Tops $500 Billion as the Company Nears its S&P 500 Debut

Electric automaker Tesla has further cemented its place as the world’s most valuable car company by far. The company’s stock continues to surge despite the worsening pandemic and is up nearly 5% to $546.59 on Tuesday pushing Tesla’s market cap over $500 billion to $518 billion.

Eric Walz2020-11-24 11:10 PT

Elon Musk’s Next Big Thing Could Be Using the SpaceX Starlink Network to Connect Tesla Vehicles

Elon Musk’s Next Big Thing Could Be Using the SpaceX Starlink Network to Connect Tesla Vehicles

Tesla Chief Executive Elon Musk claims that Tesla is close to achieving Level-5 autonomous driving. These highly advanced self-driving Tesla vehicles will need to be connected to the cloud, transferring terabytes of data between Tesla’s fleet and powerful AI-powered processors that support autonomous driving. This requires requires a low-latency, ultra-fast connection, which the SpaceX Starlink satellite-based broadband internet network can provide.

Eric Walz2020-11-04 14:30 PT

Tesla Launches $5 Billion Capital Raise As Investors Drive Up its Stock Price

Tesla Launches $5 Billion Capital Raise As Investors Drive Up its Stock Price

On Tuesday, electric automaker Tesla unveiled its biggest program of new share sales as a public company, seeking to cash in on soaring Wall Street interest in the electric carmaker. The new share sales will raise up to $5 billion, which would beef up the company's cash reserves for any future debts.

FutureCar Staff 2020-09-01 10:00 PT

Tesla Chief Elon Musk Drops Hints About the Company’s New Advanced EV Batteries

Tesla Chief Elon Musk Drops Hints About the Company’s New Advanced EV Batteries

Electric automaker Tesla is getting ready for its “Battery Day” event on Sept 22, in which the company will reveal details about its new highly advanced batteries that promise to extend the range of its electric vehicles. On Monday, Tesla Chief Executive Elon Musk dropped some battery hints for the first time on Twitter.

Eric Walz2020-08-25 09:00 PT

Tesla Reports its 4th Consecutive Profitable Quarter, Paving the Way to an Elite S&P 500 Listing

Tesla Reports its 4th Consecutive Profitable Quarter, Paving the Way to an Elite S&P 500 Listing

On Wednesday Tesla reported profitable second quarter earnings, which is its fourth consecutive profitable quarter for the company and paves the way for the company’s inclusion in the coveted S&P 500 index. The S&P 500 is largely considered an essential benchmark index for the U.S. stock market. The four consecutive profitable quarters are the first in Tesla’s history.

Eric Walz2020-07-22 15:15 PT

German Court Bans Tesla’s ‘Misleading’ Ads About the Company’s Self-Driving Capabilities

German Court Bans Tesla’s ‘Misleading’ Ads About the Company’s Self-Driving Capabilities

Germany has banned Tesla from repeating what a court says are “misleading” advertising statements relating to the capabilities of its Autopilot driver assistance system, a Munich court ruled on Tuesday.

Jeremy Carlton2020-07-14 14:00 PT

Tesla is ‘Very Close’ to Level-5 Autonomous Driving, Chief Executive Elon Musk Says

Tesla is ‘Very Close’ to Level-5 Autonomous Driving, Chief Executive Elon Musk Says

Tesla Chief Executive Elon Musk says that Tesla is “close” to achieving Level-5 autonomous driving. Musk made the comments in remarks made via a video message at the opening of Shanghai’s annual World Artificial Intelligence Conference (WAIC). However, skeptics believe Level-5 autonomy is still years away.

Jeremy Carlton2020-07-09 10:00 PT

Tesla Reports Better Than Expected Q2 Deliveries, Stock Reaches an All-Time High

Tesla Reports Better Than Expected Q2 Deliveries, Stock Reaches an All-Time High

One day after electric automaker Tesla became the world’s most valuable automaker with a market cap of $206 billion, the California automaker reported vehicle deliveries which beat analysts expectations, sending the company’s stock to record highs. Shares of Tesla jumped by $85 in early trading on Thursday to $1,204, the highest stock price since Tesla became a public company in 2010.

FutureCar Staff 2020-07-02 11:00 PT

Tesla is Now the World’s Second Most Valuable Automaker as Shares Top $1,000 After CEO Elon Musk Announces Plans to Build its Semi Truck

Tesla is Now the World’s Second Most Valuable Automaker as Shares Top $1,000 After CEO Elon Musk Announces Plans to Build its Semi Truck

For the first time since Tesla became a public company in June 2010, the company’s shares have topped the $1,000 mark on news that Tesla Chief Executive Elon Musk told staff that it’s time for “volume production” of the semi truck. The fully-electric truck will reportedly have a range of over 600 miles.

Eric Walz2020-06-10 11:00 PT

Alameda County Orders Tesla to Cease Vehicle Manufacturing at its California Factory

Alameda County Orders Tesla to Cease Vehicle Manufacturing at its California Factory

After a series of angry tweets expressing his frustration with California's shelter-in-place orders that have resulted in the shutdown of Tesla Fremont, California factory since March, Tesla Chief Executive Elon Musk defied a county order and reopened the factory. The move prompted Alameda County, the county where Tesla's factory is located, to order the electric automaker to cease vehicle production at the plant.

FutureCar Staff 2020-05-12 14:00 PT

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