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Tesla Inc.

Tesla Inc.111 posts

Tesla Inc. is a California-based company that builds electric cars, batteries and powertrains. It was founded in 2003 and initially financed by Martin Eberhard and Marc Tarpenning. Elon Musk became its chairman a year later and, in 2008, its CEO. The company produces the Model S, Model X and Model Y. It has stores in North America, Europe, Asia and Australia.

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16 Jan, 2024

Musk wants more control of Tesla as it moves into AI and robotics

Makes Statement2 Comments

TeslaMusk says he is ‘uncomfortable’ about building Tesla AI and robotics products without 25% voting control:

I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned. Unless that is the case, I would prefer to build products outside of Tesla. You don’t seem to understand that Tesla is not one startup, but a dozen. Simply look at the delta between what Tesla does and GM. As for stock ownership itself being enough motivation, Fidelity and other own similar stakes to me. Why don’t they show up for work?

Musk reduced his ownership stake in Tesla by selling billlions to fund his purchase of Twitter. Musk’s current £56 billion compensation package is ccurently being examined by Delaware Chancery Court to see if it was fair to shareholders.

23 Aug, 2023

Musk: Cybertruck parts must have ‘sub 10-micron’ Lego-like accuracy

Makes Statement5 Comments

In a leaked email to Tesla employees, Musk says that the Cybertruck needs to be manufactured to single-digit micron tolerance due to its straight edges.

Due to the nature of Cybertruck, which is made of bright metal with mostly straight edges, any dimensional variation shows up like a sore thumb.​ All parts for this vehicle, whether internal or from suppliers, need to be designed and built to sub 10 micron accuracy.​ That means all part dimensions need to be to the third decimal place in millimeters and tolerances need be specified in single digit microns. If LEGO and soda cans, which are very low cost, can do this, so can we.​ Precision predicates perfectionism.​

Elon

14 Aug, 2023

Tesla cuts China Model Y prices

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Tesla lowers prices on its Model Y long-range and performance versions in China. The move comes after sales of China-made Tesla vehicles fell 31%, and it is followed by a 2.7% drop in Tesla shares. Tesla reduced the starting prices of both models by 14,000 yuan ($1,935). The Model Y Long Range’s starting price is down 4.5% to 299,900 yuan, and that of the Model Y Performance is down 3.8% (349,900 yuan). Between August 14 and September 30, Tesla is also offering insurance subsidies in China of 8,000 yuan for buyers of the entry-level, rear-wheel-drive versions of the Model 3.

13 Aug, 2023

King: Model S a ‘good automobile’

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King says his Tesla Model S is a “good automobile” that has never given him “a speck of trouble.” Purchased in 2013, King concedes that his car does not have “the same range as” newer models, but defends the vehicle and says it “still goes fast.”

Never mind Twitter, what about the car? I bought my Tesla Model S in 2013…it’s never given me a speck of trouble. Still goes fast. Good automobile.

Tesla China sells Cybertruck-inspired cat litter box

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Tesla China lists (product link) a self-assembly “Cybertruck Multifunctional Corrugated Cat Litter” that includes a scratching board for cats. The cardboard box, branded ‘Tesla Life’,  is made of thickened and moisture-proof corrugated paper, costs ¥89 RMB ($12 US), and is described as:

a futuristic shape, a semi-open cat litter, and thick corrugated paper embedded inside to meet the nature and daily needs of cats.

7 Aug, 2023

‘Master of Coin’ leaves Tesla

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Zachary Kirkhorn, Tesla’s chief financial officer, resigns after four years in the post. Kirkhorn earned $1.2m in salary as CFO and walks away with $168m in Tesla stock and options. (When he was promoted to CFO, Kirkhorn was granted the secondary title of “Master of Coin,” a reference to the TV series Game of Thrones.) On LinkedIn, Kirkhorn thanked Musk for his “leadership and optimism, which has inspired so many people,” but gave no reason for his departure.  Tech analyst Dan Ives said Mr. Kirkhorn was “a key part of this historic Tesla turnaround the last five years” and that his departure was “a blow in the near term” for Tesla.

27 Jul, 2023

Tesla accused of inflating in-dash range projections

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Tesla faces accusations of hyping the range of its EVs, raising consumer expectations beyond what the cars can actually deliver – a practice that apparently started about ten years ago for marketing purposes. Three experts say Tesla EVs often fail to achieve their advertised range estimates and their own equipment’s projections. The company allegedly rigged its range-estimating software by writing algorithms for the range meter that would display optimistic projections for the distance the vehicle could cover on a single charge. When the battery fell below 50%, the algorithm would show drivers more realistic projections for their remaining driving range. The vehicles were designed with a “safety buffer” to prevent drivers from getting stranded as their predicted range started declining more quickly, allowing about 15 miles of additional range after the dash readout showed an empty battery. The directive to give customers optimistic range estimates apparently came from Musk himself, who “wanted to show good range numbers when fully charged.”

 

Tesla accused of stifling range complaints

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Tesla faces accusations of creating a “Diversion Team” in Las Vegas to suppress thousands of driving range complaints from its customers. With its service centers flooded with appointments, Tesla instructed some of its employees to stop customers complaining about poor driving range from bringing in their EVs for service. Many of the customers had expected better range based on the company’s advertised estimates and the projections displayed by the cars’ in-dash range meters. Apparently, thousands of customers were told nothing was wrong with their car, even with no diagnostics. Tesla managers told “Diversion Team” employees that they were saving the company about $1,000 for every canceled appointment. Inside the Nevada team’s office, some employees celebrated canceling service appointments by putting their phones on mute and striking a metal xylophone, triggering applause from coworkers who sometimes stood on desks. The team often closed hundreds of cases a week and staffers were tracked on their average number of diverted appointments per day.

21 Jul, 2023

Musk wants to give amputees robotic limbs powered by brain implants

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While updating investors on Tesla’s second-quarter performance, Musk says he wants to help amputees by combining advanced robotics from Tesla with brain-implant technology from Neuralink. Musk says the combination could give amputees…

a robot arm or leg that is as good, maybe better long term, than a biological one…We believe we can give, basically, a cyborg body that is incredibly capable.

20 Jul, 2023

Musk: Tesla may cut prices in ‘turbulent times’

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On an analysts’ call, Musk says that he will cut prices again on Tesla’s vehicles due to “turbulent times”:

One day it seems like the world economy is falling apart, next day it’s fine. I don’t know what the hell is going on. We’re in, I would call it, turbulent times.

Tesla shares fall nearly 5% after Musk’s comments.

19 Jul, 2023

Musk sees “deflationary pressures” on lithium prices

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On a Tesla earnings call, Musk says he is “seeing what seems to be deflationary pressures” on lithium prices, which “went absolutely insane there for a while.” He attributes the spike to rising commodity prices that made it difficult to cut costs in 2022. Karn Budhiraj, Tesla’s vice president for supply chain, says the reduction in commodity prices translates into thousands of dollars on a per-vehicle basis, adding that the company is extending some fixed-price contracts with suppliers through the end of this decade to lock in the lower costs.

17 Jul, 2023

Tesla builds first Cybertruck

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Tesla builds its first Cybertruck for customers at its Giga Texas manufacturing facility in Austin, Texas, four years after the vehicle was announced in November 2019. In a tweet, more than 100 Telsa staff in hard hats and high-vis vests surround the vehicle after it comes of the production line.

First Cybertruck built at Giga Texas! 

Warren urges SEC to investigate Tesla over Twitter ties

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Warren sends a letter to the U.S. Securities and Exchange Commission, urging them to investigate Tesla over possible conflicts of interest, misappropriation of corporate assets, and other negative impacts to Tesla shareholders related to Musk’s Twitter takeover. Warren says the Tesla board’s “apparent lack of independence” from Musk raises questions about possible violations of security laws and exchange rules which fall under SEC’s jurisdiction.

11 Jul, 2023

Tesla to launch UK electricity supplier

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A job ad posted for UK head of operations for Tesla Electric, says Tesla is seeking to apply to Ofgem, the UK’s electricity regulator, for an electricity supply licence, which would allow the company to launch a “retail electricity product in the UK”. The ad says Tesla is seeking to “support the transition of the entire electricity grid to 100pc renewables” by making more use of home batteries.

The project is said to be similar to Tesla’s Texas energy utility, which sells electricity from Tesla Powerwall batteries to the grid during peak times and buys it back when it is cheaper. An industry source says between 10,000 and 20,000 Powerwall units, which cost £9500 in the UK, are believed to have been installed in UK households. Owners of Tesla cars could also eventually use the service, under Ofgem plans to allow electric vehicles to sell electricity back to the grid.

Glass house investigation: outcome unknown

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The outcome of the probe by Tesla’s board into whether Musk misused the company’s clout to secure special glass for a personal building project (“Project 42”) remains unknown, according to “insiders” at the company. The investigation was launched after a top Musk advisor at Tesla ordered millions of dollars worth of specialized glass for the projected mansion. Nor has the glass-walled residence been constructed, despite the plans for it dating back to at least 2022. Sources at Tesla say they do not know the project’s status, and neither Musk nor any board members have commented about the matter.

8 Jul, 2023

Musk’s ketamine use ‘could jeopardize security clearance’

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Musk’s ketamine use could prompt an investigation into his security clearance for SpaceX and Tesla. It was reported that Musk microdoses ketamine for depression, and takes full doses of ketamine at parties. He has also tweeted approvingly of ketamine use to treat depression. Two national security attorneys say drug use is typically grounds for the government to revoke someone’s security clearance. They expect to see the federal agency in charge of security clearances investigate Musk’s use of ketamine, which is a schedule III drug, meaning it can be legally prescribed under federal law. One of the attorneys says:

[S]omeone who takes a cavalier approach to drug use may take a cavalier approach to the handling of classified information.

Musk does not respond to a request for comment. There is no evidence that the government has opened a review of Musk’s clearance.

6 Jul, 2023

Musk: Tesla could achieve ‘full self-driving’ this year

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Musk says Tesla could realize “full self-driving” vehicles “later this year.” During the opening ceremony of the World Artificial Intelligence Conference in Shanghai, the entrepreneur says via video link that although he has been wrong in previous predictions about autonomous driving, he feels like Tesla is closer to it than ever.

In terms of where Tesla is at this stage, I think we are very close to achieving full self-driving without human supervision. This is only speculation, but I think we’ll achieve full self-driving, maybe what you would call four or five, I think later this year. I feel like we’re closer to it than we ever have been.

3 Jul, 2023

Tesla delivers record number of cars after price cuts

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Tesla says it delivered a record number of vehicles for the three months from April to June, delivering 466,140 vehicles, 80% higher than last year. The company says it lowered prices in markets including the US, UK and China to compete with rival manufacturers. The company is due to report its financial results for the second quarter on 19 July. Musk,

We’re not ‘starting a price war’, we’re just lowering prices to enable affordability at scale.

21 Jun, 2023

Musk considers Cuban’s low-cost pharmacy for Tesla, SpaceX employees

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After a Twitter user asks Cuban who costplusdrugs.com does not offer Invermectin, which the user says “costs $0.02 per pill in Africa, 100x mark-up in America”, Musk responds:

Good question

A few hours later, Cuban responds to Musk:

I’m sorry I didn’t see you enter the discussion  @elonmusk. The price we were able to get was much higher than other available sources. We are trying to get a better price. We do sell HCQ. Our mission is to be the low cost provider of every med we are allowed to sell. You should have your employees use us. It will save them and @twitter a fuck ton of money. Costplusdrugs.com

Musk replies that he will ask Tesla & SpaceX to inquire into Cuban’s offer. In 2022, Tesla employed more than 127,000 people, while SpaceX has about 10,000 employees

Musk meets Modi, hints at Tesla expansion

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On a two-day visit to New York, Indian Prime Minister Modi meets with Musk. Musk:

[It was an] excellent and a very good conversation. I am confident Tesla will be in India and will do so as soon as humanly possible, Hopefully we’ll be able to announce something in the not-too-distant future….I am a fan of Modi. I like him quite a lot.

Musk, who said he hopes to visit India in 2023, said Modi is pushing Tesla to make “significant investments in India,” and that’s “something we intend to do.” He also added that he hopes to bring Starlink to remote and rural areas of India.