Tesla Inches Closer to $35,000 Model 3, Reduces Price for Sedan

Tesla is hoping to cancel out the effects of the loss of federal tax credits by slashing the Model 3’s price tag by an extra $1,100.

Vineeth Joel Patel2019-02-07 06:00 PT

Tesla to Buy Battery Maker Maxwell Technologies in a $218 Million All-Stock Deal

Electric automaker Tesla announced today the purchase of Maxwell Technologies, a San Diego-based developer and manufacturer of battery solutions, including ultracapacitors and electric vehicle battery cells.

FutureCar Staff 2019-02-04 14:35 PT

Tesla Begins Taking Orders for a Lower-Priced Model 3 in China

Customers in China looking to purchase a Tesla Model 3 can place their orders beginning today. Electric automaker Tesla said it will start taking orders in China for a lower-priced version of its mass-market electric car.

FutureCar Staff 2019-02-01 13:46 PT

Tesla CEO Elon Musk Provides Updates in Q4 Earnings Call

Tesla CEO Elon Musk had much to say on today’s Q4 earning call. He opened Wednesday’s call by saying that “Last year was definitely the most challenging year in Tesla’s history, but also the most successful.”

FutureCar Staff 2019-01-30 18:07 PT

Saudi Arabia’s Public Investment Fund Hedges its Stake in Tesla

Saudi Arabia’s Public Investment Fund (PIF) has cut its exposure to electric carmaker Tesla Inc. The move is a sign that the PIF is concerned about Tesla’s long-term profitability.

Eric Walz2019-01-28 11:32 PT

Tesla Reducing Production Hours for the Model S & Model X

Electric automaker Tesla is cutting production hours for the Model S sedan and Model X SUV, a move which raised concerns about falling demand for the company’s most profitable models.

FutureCar Staff 2019-01-23 14:21 PT

Tesla to Cut 7% of its Workforce to Help Lower the Costs of Model 3 Production

Electric automaker Tesla, fresh off its best sales year in the company’s history, announced today it will lay off about 7 percent of its full-time workforce. Tesla CEO Elon Musk said the move is necessary to help lower the costs associated with production of the Model 3

Eric Walz2019-01-18 11:59 PT

Tesla Announces Price Cuts & Record Output While Stock Slips on Expected Falling Demand

Electric automaker Tesla said it is cutting prices of the Model 3, Model S and Model X SUV by $2,000. Tesla’s surprise announcement weighed on the stock, pushing it down nearly 7 percent, as investors see it as a sign that Tesla may experience softer demand for the Model 3 going forward as the $7,500 federal EV tax credit is halved.

FutureCar Staff 2019-01-02 18:32 PT

Tesla Facing Sales Slowdown as the $7,500 Federal EV Tax Credit Ends Jan 1

Now that Tesla has reached sales of 200,000 electric vehicles, the $7,500 federal EV tax credit offered to buyers is being cut in half to $3,750 beginning Jan 1.

Eric Walz2018-12-31 10:05 PT

Co-Founder of Oracle Larry Ellison Joins Tesla’s Board

Tesla has added two new members to its board on Thursday. The electric automaker named Oracle co-founder Larry Ellison and Kathleen Wilson-Thompson to its board in compliance with an SEC settlement reached in September.

FutureCar Staff 2018-12-28 11:36 PT

Tesla Registers Financial Leasing Unit for Construction of Shanghai Gigafactory

Electric automaker Tesla is putting the pieces in place for its first factory in China. Reuters reported that the U.S. automaker has registered a financial leasing company in Shanghai’s free trade zone.

FutureCar Staff 2018-12-27 10:29 PT

Tesla Aims to Begin Electric Vehicle Production in Shanghai By Next Year

Tesla is on a rapid pace to get its Shanghai Gigafactory up and running. The electric automaker has opened a tender process to build its Shanghai Gigafactory and at least one contractor has started buying materials.

FutureCar Staff 2018-12-06 16:08 PT

Tesla Begins Taking Model 3 Reservations in China

Electric automaker Tesla has opened reservations in China to purchase the Tesla Model 3. Beginning today, customers in China can reserve their Model 3 with a deposit of 8,000 yuan ($1,153.60), according to Tesla’s China website

Eric Walz2018-11-16 11:32 PT

Tesla Updates its Autopilot to Work on Highway Interchanges

Tesla models equipped with the latest software version will now be able to navigate freeway interchanges autonomously. The new feature is called “Navigate on Autopilot” and uses the car’s built-in navigation system to guide the vehicle from a freeway on-ramp to the off-ramp.

Eric Walz2018-10-30 11:49 PT

Tesla Releases its Q3 Earnings Report, CEO Elon Musk Calls it 'Truly Historic'

Tesla announced its Q3 earning today and CEO Elon Musk called the company’s Q3 performance “truly historic”. The company posted a GAAP of $312 million on a record $6.8 billion in revenue, boosted by sales of the Model 3.

FutureCar Staff 2018-10-24 16:57 PT

New Bill Proposed to Remove Sales Limits on the $7500 Federal Tax Credit for EVs

A new bill introduced by Senator Dean Heller (R) of Nevada is hoping to keep electric car sales on the upward swing. The bill would extend the EV tax credits of up to $7,500 until 2022 for electric vehicles sold in the U.S.

Eric Walz2018-10-19 18:07 PT

Tesla Offering a New Mid-Range Battery Option for the Model 3

Tesla is offering a new a mid-range version of the Model 3, with an estimated range of 260 miles. The new mid-range Model 3 is priced at $45,000 before incentives.

FutureCar Staff 2018-10-18 16:40 PT

Tesla Secures Site in Shanghai for $2 Billion Gigafactory, its First Factory Outside the U.S.

Electric automaker Tesla has signed an agreement with the Shanghai government for a 860,000 square meter parcel of land where the electric automaker plans to build its first overseas Gigafactory, Tesla said in a Chinese social media post on Wednesday.

Eric Walz2018-10-17 12:25 PT

Tesla CEO Elon Musk Officially Settles with the SEC for Misleading the Public

A U.S. judge approved Tesla’s and Chief Executive Elon Musk’s $40 million settlement with the U.S. Securities and Exchange Commission, resolving government claims that Musk misled the public with a number of tweets about plans to take the automaker private.

Eric Walz2018-10-16 13:11 PT

Tesla CEO Elon Musk Out as Chairman, Required to Pay $20 Million in SEC Settlement

Musk will resign his role as Tesla’s chairman for three years, but will retain his position as the company’s CEO. In addition to paying a $20 million fine, Tesla will also have to pay a separate $20 million penalty.

Vineeth Joel Patel2018-10-01 14:30 PT