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Musk Testifies in Tesla Tweet Trial
Musk Defends His
'420' Tesla Tweets

Musk Defends His '420' Tesla Tweets

He says he 'felt funding was secured' due to his ownership of SpaceX stock

(Newser) - Elon Musk returned to federal court Monday in San Francisco, testifying that he believed he had locked up financial backing to take Tesla private during 2018 meetings with representatives from Saudi Arabia’s Public Investment Fund—although no specific funding amount or price was discussed. The billionaire Tesla CEO and...

Arguments Begin in Musk's Tesla Tweet Trial
Musk's Tesla Tweet
Trial Begins

Musk's Tesla Tweet Trial Begins

'His lies caused regular people ... to lose millions and millions of dollars,' lawyer says

(Newser) - Elon Musk was depicted Wednesday as either a liar who callously jeopardized the savings of "regular people" or a well-intentioned visionary as attorneys delivered opening statements at a trial focused on a Tesla buyout that never happened. Lawyers on opposing sides drew the starkly different portraits of Musk for...

Engineer Says Tesla Self-Driving Video Was Staged

'The intent of the video was not to accurately portray what was available for customers in 2016'

(Newser) - A 2016 video promoting Tesla's self-driving technology wasn't what it appeared to be, a Tesla engineer testified. In previously unreported testimony, Ashok Elluswamy, director of Autopilot software, said the video was staged and the Tesla Model X involved wasn't really driving itself, reports Reuters . "The intent...

Teslas in the US Just Got Less Expensive

There are sudden big price drops on Model 3, Model Y cars in US, Europe as demand slows

(Newser) - Last week, Tesla announced it was slashing the prices on all of its Model 3 and Model Y vehicles in China, in an attempt to keep up with a demand slowdown spurred by a slumping economy. Now, the US and Europe are getting a similar deal: Mashable reports the electric...

Cops Believe Tesla Plunge Off Cliff Was Intentional

2 adults, 2 children survived the terrifying incident

(Newser) - Police have arrested the male driver of a Tesla that plunged off a Northern California cliff Monday, accusing him of intentionally driving off the side of the Pacific Coast Highway in an area known as Devil's Slide. Dharmesh Arvind Patel, 41, who is from the Los Angeles area, survived...

As Tesla Stock Tanks, Musk Has a Message for Staff

CEO assures employees that, one day, 'Tesla will be the most valuable company on Earth!'

(Newser) - Short sellers are celebrating Tesla's plummeting stock prices , but investors aren't happy, and they're now begging CEO Elon Musk—who's sold off billions of dollars worth of his shares to help fund his newest company, Twitter—to stop dumping his stock. Tesla employees are also likely...

Twitter CEO's Other Company Is Not Doing Very Well

Elon Musk blames inflation

(Newser) - Barring any profoundly unexpected news in the coming days, Tesla stock has achieved its worst-ever annual stock performance, losing roughly 70% of its value since its November 2021 peak, per the Wall Street Journal . It's not all CEO Elon Musk's fault, per se, as there are a host...

Musk: I'll Keep Tesla Stock for 18 Months

Stock's value has plunged since Twitter purchase

(Newser) - CEO Elon Musk says he won't sell any more shares in Tesla for 18 months or more, likely an attempt to comfort shareholders of the electric vehicle company who have watched the stock lose nearly half of its value since Musk's purchase of Twitter. "I'm not...

Tesla's Big New Discount Raises Concerns

US buyers can get $7.5K off, which may be a sign of weakening demand

(Newser) - In assessing Elon Musk's business strategy at Tesla, the Wall Street Journal observes that Musk "has frequently boasted how Tesla stands apart from traditional car companies by not relying on the kind of marketing tools, such as advertisements or discounting, to goose demand." Consider demand goosed, in...

This Has Been a Stellar Year for Tesla Short Sellers

They've made around $15B betting against stock, analytics firm

(Newser) - Betting against Tesla was a ruinously bad move in 2020 and 2021, but a winner in 2022, traders say. The company's stock started 2020 trading at around $30 and it hit a peak of more than $400 in November 2021. But it sank to a two-year low of $137....

As Musk Fiddles With Twitter, Tesla Burns

EV manufacturer's shares plummet to 2-year low, which some attribute to Musk's 'loss of focus'

(Newser) - Elon Musk recently tweeted that he'd be "working & sleeping" at Twitter, his newest acquisition, "until the org is fixed." But that intense dedication to Twitter (and the chaos that has ensued since Musk took over) is among the factors that have investors in his other...

Musk: 'I Frankly Don't Want to Be the CEO of Any Company'

The CEO/CEO/CEO testified in a Tesla shareholder trial in Delaware

(Newser) - Elon Musk is a CEO in triplicate: It's the title he has at Tesla, SpaceX, and now Twitter. But as he tells it, he'd prefer the count to be zero. Musk said as much from the witness stand Wednesday while in a Delaware court where he was battling...

Senator to Elon Musk: 'Fix Your Companies. Or Congress Will'

Dem Sen. Ed Markey of Mass. got into it with the Twitter CEO over the weekend

(Newser) - Elon Musk had it out over the weekend with a US senator on the platform he now owns. Axios reports that Democratic Sen. Ed Markey of Massachusetts kicked things off on Friday with a letter to Musk that he posted on Twitter , asking Musk to fill him in on how...

Elon Musk Unloads $4B More in Tesla Stock

Scraping the couch cushions presumably to fund his Twitter purchase

(Newser) - Twitter's new owner and Tesla CEO Elon Musk has sold nearly $4 billion worth of Tesla shares, according to regulatory filings cited by the AP . Musk, who bought Twitter for $44 billion, sold 19.5 million shares of the electric car company from Nov. 4 to Nov. 8, according...

Tesla Rival's Flying Car Makes Its Maiden Flight

Xpeng's X3 was unveiled late last month, but it's got competition

(Newser) - A Chinese electric-vehicle manufacturer that's considered a Tesla rival has driven its first flying car out of the garage and into the sky, and its unveiling is spurring buzz across the eVToL (electric vertical takeoff and landing) landscape. NPR reports that Xpeng held its annual Tech Day on Oct....

Tesla Recalls a Million Cars Over Windows

They might pinch people's fingers when rolling up

(Newser) - Tesla is recalling nearly 1.1 million vehicles in the US because the windows can pinch a person's fingers when being rolled up. Tesla says in documents posted Thursday by US safety regulators that the automatic window reversal system may not react correctly after detecting an obstruction, per the...

Tesla Considers Lithium Refinery on Gulf Coast
Tesla Considers
Refining Lithium

Tesla Considers Refining Lithium

Price of battery component has shot up, but supply hasn't

(Newser) - Supply chain realities involving batteries have driven Tesla to consider building its own lithium hydroxide refining plant. The maker of electric vehicles has filed a notice with Texas saying that it's considering locations in Texas and Louisiana that have access to the Gulf Coast shipping channel. The company said...

Tesla to Advocacy Group: Take Down Videos, Now

Company threatens legal action after the Dawn Project says Full Self-Driving is dangerous

(Newser) - Tesla is threatening legal action against an advocacy group and demanding it immediately take down videos that allege the company's Full Self-Driving mode is a particular threat to child pedestrians. The Washington Post reports that the company sent a cease-and-desist letter to the Dawn Project, which is run by...

Musk Does What He Said He Wouldn't
Musk Does
What He Said
He Wouldn't

Musk Does What He Said He Wouldn't

Billionaire sells $6.9B in Tesla stock in case his $44B purchase of Twitter goes through

(Newser) - Elon Musk has reneged on his vow not to sell more Tesla stock. The billionaire just sold $6.9 billion in stock in the company ahead of a court battle that could force him to follow through on his earlier offer to buy Twitter. He sold 7.92 million shares...

Tesla Autopilot May Have a Motorcycle Problem

Authorities investigating two fatal crashes

(Newser) - Two crashes involving Teslas apparently running on Autopilot are drawing scrutiny from federal regulators and suggest a potential new hazard on US freeways: The partially automated vehicles may not stop for motorcycles. The National Highway Traffic Safety Administration sent investigation teams to two crashes last month in which Teslas collided...

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