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Major Tesla Investor Urges the Electric Automaker to Issue Stock Buyback After Share Price Plummets 30% Since April

Major Tesla Investor Urges the Electric Automaker to Issue Stock Buyback After Share Price Plummets 30% Since April

One of Tesla’s biggest shareholders is not happy with the electric automaker’s tumbling stock price since last month. Billionaire Leo KoGuan, co-founder of IT provider SHI International Corp and a major individual investor in Tesla, is publicly calling on the company to buy back shares in order to return some cash back to shareholders.

Eric Walz2022-05-19 13:40 PT

Tesla Beats Revenue and Profit Estimates for Q1 With Deliveries of 310,048 Electric Vehicles

Tesla Beats Revenue and Profit Estimates for Q1 With Deliveries of 310,048 Electric Vehicles

Electric automaker Tesla announced its first quarter deliveries and revenue on Wednesday. The world’s most valuable automaker managed to beat earnings and profit estimates in Q1 2022 despite the semiconductor shortages and supply chain interruptions that have been hampering global auto production.

FutureCar Staff 2022-04-20 14:15 PT

Tesla Chief Executive Elon Musk Has a New Role, Twitter Board Member

Tesla Chief Executive Elon Musk Has a New Role, Twitter Board Member

Following Monday's news of Elon Musk’s multi-billion dollar investment in Twitter, which helped fuel rumors of a possible takeover of the social media platform, the Tesla chief will now take a seat on Twitter's board. As an official board member, Musk vowed to make "significant" improvements at Twitter, though it’s still unclear what they'll be.

FutureCar Staff 2022-04-05 09:15 PT

Elon Musk's Newly Acquired Stake in Twitter is Even Bigger Than its Co-founder and Former CEO Jack Dorsey

Elon Musk's Newly Acquired Stake in Twitter is Even Bigger Than its Co-founder and Former CEO Jack Dorsey

​Tesla Chief Executive Elon Musk purchased 73,486,938 shares of social media platform Twitter, equal to roughly a 9.2% stake in the company. Musk’s major purchase of Twitter shares was revealed in a U.S. Securities and Exchange commission (SEC) filing on Monday. It’s unclear what Musk’s intentions are for the investment, but the mercurial Chief Executive of the world’s most valuable car company has complained recently that Twitter is censoring free speech.

FutureCar Staff 2022-04-04 12:30 PT

Tesla Signs a Secretive Deal With Brazilian Mining Company Vale S.A. to Supply Nickel for EV Batteries, Bloomberg Reports

Tesla Signs a Secretive Deal With Brazilian Mining Company Vale S.A. to Supply Nickel for EV Batteries, Bloomberg Reports

Bloomberg News reported on Wednesday that Tesla has signed an undisclosed deal with Brazilian mining company Vale S.A. to supply nickel to the electric automaker. Vale is the world's largest producer of iron ore, pellets, and nickel. Demand for nickel is expected to rise with the auto industry's transition to electrification.

Eric Walz2022-03-30 08:15 PT

Tesla’s German Gigafactory Delivers the First Model Ys After Officially Starting Production

Tesla’s German Gigafactory Delivers the First Model Ys After Officially Starting Production

Tesla's bold plans to dominate the electric vehicle market in Europe is one step closer as the automaker's new factory in Germany kicked off production of the first European-built Model Y vehicles for the local market. Tesla Chief Executive Elon Musk traveled to Germany to celebrate the milestone and oversaw the handover of Tesla's first German-made cars on Tuesday.

FutureCar Staff 2022-03-22 12:15 PT

Tesla Delivers a Record 936,000 Vehicles in 2021, its Highest Ever Yearly Total

Tesla Delivers a Record 936,000 Vehicles in 2021, its Highest Ever Yearly Total

​Electric automaker Tesla Inc easily beat Wall Street estimates with a record breaking number of vehicle deliveries to close out 2021. The company reported deliveries of 308,600 vehicles in the fourth quarter of 2021, which helped to boost Tesla’s annual deliveries to more than 936,000 vehicles, the highest ever yearly total.

Eric Walz2022-01-03 08:00 PT

Elon Musk’s Criticism of Biden’s Infrastructure Plan Seems Justified When it Comes to EV Tax Credits

Elon Musk’s Criticism of Biden’s Infrastructure Plan Seems Justified When it Comes to EV Tax Credits

Tesla Chief Executive Elon Musk is not a fan of President’s Biden’s massive infrastructure plan when its comes to electric vehicles tax credits and and made his feeling clear in remarks on Monday. One of the biggest pain points for Musk about the plan is that it essentially shuts out Tesla from the proposed increase in the federal EV tax credit from $7,500 to $12,000, which is designed to boost the adoption of electric vehicles in the U.S.

Eric Walz2021-12-07 12:30 PT

Elon Musk’s Criticism of Biden’s Infrastructure Plan Seems Justified When it Comes to EV Tax Credits

Elon Musk’s Criticism of Biden’s Infrastructure Plan Seems Justified When it Comes to EV Tax Credits

​Tesla Chief Executive Elon Musk is not a fan of President’s Biden’s massive infrastructure plan when its comes to electric vehicle tax credits and he made his feeling clear in remarks on Monday. One of the biggest pain points for Musk is that the plan essentially shuts out Tesla from the proposed increase in the federal EV tax credit from $7,500 to $12,000, which is designed to boost the adoption of electric vehicles in the U.S.

Eric Walz2021-11-30 12:30 PT

PepsiCo CEO Says the Company Will Take Delivery of Some Tesla Semi Trucks This Quarter

PepsiCo CEO Says the Company Will Take Delivery of Some Tesla Semi Trucks This Quarter

U.S.-based multinational food and beverage company PepsiCo will take delivery of electric semi trucks from Tesla in the fourth quarter, company CEO Ramon Laguarta said. PepsiCo was one of the first companies to commit to buying electric trucks from Tesla. The soft drink maker reserved 100 of Tesla's electric semi trucks in Dec 2017 as a way to reduce fleet emissions and fuel costs.

FutureCar Staff 2021-11-08 09:35 PT

As One of the World's Richest Persons, Can Jeff Bezos Help Make Amazon-backed Rivian Bigger Than Tesla?

As One of the World's Richest Persons, Can Jeff Bezos Help Make Amazon-backed Rivian Bigger Than Tesla?

E-commerce giant Amazon is now worth roughly $1.7 trillion, which has made its founder Jeff Bezos one of the richest people on the planet. Amazon is also a backer of electric vehicle startup Rivian and could help the company take on Tesla in the electric vehicle space.

Eric Walz2021-10-20 15:00 PT

Will Rivian’s Fully-Electric R1T Pickup and Ford’s F-150 Lightning Prompt Tesla to Further Delay the Launch of the Cybertruck?

Will Rivian’s Fully-Electric R1T Pickup and Ford’s F-150 Lightning Prompt Tesla to Further Delay the Launch of the Cybertruck?

By the time Tesla launches its Cybertruck in late 2022 at the earliest, the market will be occupied by new electric pickups with a more conservative and traditional design, which will make it much harder for Tesla to compete in the segment. The buzz surrounding the launch of Ford's F-150 Lightning and Rivian’s R1T electric pickup have for the most part overshadowed Tesla’s futuristic looking Cybertruck.

FutureCar Staff 2021-10-08 10:00 PT

Tesla Reports Record Vehicle Deliveries in Q3 - Without the Help of the Model S, Model X

Tesla Reports Record Vehicle Deliveries in Q3 - Without the Help of the Model S, Model X

As expected, electric automaker Tesla reported record electric vehicle sales over the weekend to close out the third quarter of 2021. Tesla delivered 241,300 vehicles globally in Q3, up 73% for the same period last year. However, of the 241,300 vehicles Tesla delivered in Q3, only a small number were Model S sedan and Model X SUVs, as the company focuses on building its more affordable models.

Eric Walz2021-10-04 09:30 PT

Tesla Chief Executive Elon Musk Says New Chip Factories Will End the Global Shortage in the Industry by Next Year

Tesla Chief Executive Elon Musk Says New Chip Factories Will End the Global Shortage in the Industry by Next Year

​Speaking at Italian Tech Week on Friday, Tesla Chief Executive Elon Musk announced that new semiconductor factories currently under construction will supply enough chips to end the global shortage that has plagued the auto industry for the past 18 months.

FutureCar Staff 2021-09-25 08:15 PT

Elon Musk’s Next Big Thing, ‘Humanoid Robots’ Powered by the Same AI Used for its Self-Driving Vehicles

Elon Musk’s Next Big Thing, ‘Humanoid Robots’ Powered by the Same AI Used for its Self-Driving Vehicles

Last night during a live streamed event called “AI Day”, Tesla Chief Executive Elon Musk teased the “Tesla Bot”, a realistic humanoid robot that would be powered by the same types of AI systems that Tesla uses for its Autopilot and Full Self-Driving (FSD) feature in its cars.

Eric Walz2021-08-20 11:25 PT

Elon Musk Aims for Tesla to Start Building Cars at the New German Gigafactory in October

Elon Musk Aims for Tesla to Start Building Cars at the New German Gigafactory in October

​Tesla chief executive Elon Musk said on Friday that he hopes to start producing electric cars at the company’s new Factory in Germany by October, or shortly after. Musk, who traveled to Germany on Wednesday in his private jet to meet with state officials and check on the progress of the plant, has expressed frustration over the lack of progress on the $6.9 billion factory.

FutureCar Staff 2021-08-13 09:50 PT

A Closer Look at Tesla’s Nvidia-powered Supercomputer for Training Deep Neural Networks

A Closer Look at Tesla’s Nvidia-powered Supercomputer for Training Deep Neural Networks

​At the fourth annual Computer Vision and Pattern Recognition (CVPR 2021) conference this week, Tesla’s senior director of AI, Andrej Karpathy, shared details the company’s latest supercomputer that will be used to train deep neural networks (DNN) for Tesla’s Autopilot and Full Self-Driving (FSD) autonomous driving features.

Eric Walz2021-06-22 11:00 PT

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

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