Category Archives: Tesla

Nick Kyrgios’s Tesla allegedly stolen from mother at gunpoint – tennis star uses app to track car for police

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Officers chase bright green vehicle after gunman raided the sportsman’s family home in Canberra, Australia, court documents say

Tennis star Nick Kyrgios helped police by using a phone app to remotely track his Tesla after it was stolen from his mother at gunpoint on Monday morning.

Kygrios was inside his family’s Canberra home about 8.30am when a masked man wearing all black knocked on the front door, describing himself as “Chris”.

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Black former worker awarded $3.2m in Tesla factory racial-harassment suit

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Originally awarded $130m, which a judge reduced to $15m, plaintiff opted for new trial against the electric vehicle maker

Tesla will pay about $3.2m to a Black former employee after a federal jury in San Francisco ruled the electric-vehicle maker failed to prevent severe racial harassment at its flagship assembly plant in California.

The amount is far less than the $15m that the plaintiff, Owen Diaz, rejected last year in opting for a new trial. Diaz asked for a new trial on damages after the judge reduced the amount he was awarded in a 2021 ruling from $137m to $15m. Diaz accused Tesla of failing to act when he repeatedly complained to managers that employees at the Fremont factory frequently used racist slurs and scrawled swastikas, racist caricatures and epithets on walls and work areas.

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Elon Musk broke law with threat to Tesla workers’ stock options, court rules

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Appeal judges uphold previous ruling, citing ‘implied threat’ in CEO’s tweet directed at Fremont employees who wanted to join union

A US appeals court has ruled that Elon Musk violated federal labour law by tweeting that employees of Tesla would lose stock options if they joined a union.

The New Orleans-based 5th US circuit court of appeals upheld a decision by the US National Labor Relations Board that said the 2018 tweet amounted to an unlawful threat that could discourage unionising and ordered Musk to delete it.

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Musk tells court he lacked ‘specific’ funding to take Tesla private

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CEO of electric carmaker says finance was ‘not an issue’ but he did not have binding commitments from investors

Elon Musk expected strong financial support when he tweeted that he would take Tesla private in 2018, but lacked specific commitments from potential backers, according to testimony he gave on his third day of questioning in a San Francisco federal court.

Musk is accused of defrauding investors by driving up the price of Tesla stock by tweeting on 7 August 2018 that he had “funding secured” to take the electric carmaker private.

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Musk tells Tesla trial: ‘Just because I tweet doesn’t mean people believe it’

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The carmaker founder said Twitter was the most democratic way to communicate but tweets didn’t affect stock as he expected

Elon Musk testified on Friday as part of a trial over a 2018 tweet in which he claimed to have “funding secured” to take Tesla private, a tweet that shareholders allege cost them millions in trading losses.

The Tesla CEO appeared in a San Francisco federal courtroom and defended himself by saying that “just because I tweet something does not mean people believe it or will act accordingly”.

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‘A little off his rocker’: jurors grilled over views of Elon Musk for shareholder trial

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Despite Musk’s claim he can’t get a fair trial in Twitter’s hometown, judge sits San Francisco jury for Tesla suit

The shareholder case against Tesla CEO Elon Musk got off to a slow start on Tuesday, as potential jurors who variously described the controversial tech billionaire as “narcissistic”, “unpredictable”, “a little off his rocker”, “a genius” and “another arrogant rich guy” were questioned about their impartiality by the judge.

But, by the end of the day, nine jurors had been selected to sit on the jury for the San Francisco trial, which hinges on whether Musk cheated investors of “billions” by asserting in 2018 tweets that he had “secured” financing to take the electric automaker private.

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Elon Musk seeks to move trial out of San Francisco, claiming he can’t get fair trial

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Musk says negative local media coverage of shareholder lawsuit over 2018 Tesla tweet has biased jurors against him

Elon Musk has urged a federal judge to shift a trial in a shareholder lawsuit out of San Francisco because he says negative local media coverage has biased potential jurors against him.

Instead, in a filing submitted late Friday – less than two weeks before the trial was set to begin on 17 January – Musk’s lawyers argue it should be moved to the federal court in the western district of Texas. That district includes the state capital of Austin, which is where Musk relocated his electric car company, Tesla, in late 2021.

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Tesla behind eight-vehicle crash was in ‘full self-driving’ mode, says driver

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San Francisco crash is the latest in a series of accidents blamed on Tesla technology, which is facing regulatory scrutiny

The driver of a 2021 Tesla Model S told California authorities the vehicle was in “full self-driving mode” when the technology malfunctioned, causing an eight-vehicle crash on the San Francisco Bay bridge last month.

The crash on Thanksgiving Day resulted in two juveniles being transported to hospital and led to lengthy delays on the bridge. The incident was made public in a police report on Wednesday.

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Elon Musk loses title of world’s richest person to Bernard Arnault

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Loss of top spot to LVMH chief executive comes after Tesla shares more than halve in value

Elon Musk has lost his crown as the world’s richest person, after further falls in the value of shares in his electric car company Tesla.

Forbes and Bloomberg, which track the wealth of billionaires, reported that Musk had lost the top spot to France’s Bernard Arnault, the chief executive of the luxury group LVMH.

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Tesla misses quarterly revenue expectations amid fears of slowing demand

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Company posts $3.3bn in net income and $21.45bn in revenue as vehicle production outstrips delivery

Tesla’s third-quarter revenue fell short of Wall Street expectations on Wednesday, prompting its stock price to drop more than 4% after markets closed.

The company posted $3.3bn in profit and $21.45bn in revenue. The results come two weeks after the electric carmaker said it produced 22,000 more vehicles than it delivered, signaling to some analysts that the company was not able to maintain demand.

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Elon Musk to showcase humanoid ‘Optimus’ robot at Tesla’s AI Day

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CEO also expected to discuss self-driving technology and high-speed computer at Friday event

Elon Musk has said a robot business will be worth more than Tesla’s cars, and on Friday investors, customers and potential workers expect to see a prototype at Tesla’s “AI Day” that could prove whether the bot named “Optimus” is ready for work.

The robot will be the star of the AI show, but Musk is also expected to discuss Tesla’s long-delayed self-driving technology. In May, the CEO said that the world’s most valuable carmaker would be “worth basically zero” without achieving full self-driving capability, and it faces growing regulatory investigations, as well as technological hurdles.

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Tesla recalls nearly 1.1m vehicles in US over windows pinching fingers

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Company says in documents that the automatic window reversal system may not react correctly after detecting an obstruction

Tesla is recalling nearly 1.1m 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.

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Indigenous leaders urge businesses and banks to stop supporting deforestation

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Amazon ecosystem is on verge of collapse, leaders tell brands such as Apple and Tesla as UN gathers in New York

Indigenous leaders from the Amazon have implored major western brands and banks to stop supporting the ongoing destruction of the vital rainforest through mining, oil drilling and logging, warning that the ecosystem is on the brink of a disastrous collapse.

Representatives of Indigenous peoples from across the Amazon region have descended upon New York this week to press governments and businesses, gathered in the city for climate and United Nations gatherings, to stem the flow of finance to activities that are polluting and deforesting large areas of the rainforest.

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VW boss Herbert Diess exits three years early after turbulent tenure

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Porsche’s Oliver Blume will take over after difficulties managing electric transition during Diess’s four years in charge

Volkswagen’s CEO, Herbert Diess, is stepping down and will be succeeded by the current head of Porsche, Oliver Blume, Europe’s top carmaker has said, after a four-year tenure in which Diess pushed VW’s electric vehicle ambitions and clashed with its work council and board.

Sources with knowledge of the matter said the Porsche and Piëch families, who own over half the voting rights and a 31.4% equity stake in Volkswagen, pressed for a change at the helm.

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Mexico gives Tesla a dedicated lane at the border to speed up crossing into the US

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The exclusive lane, at the remote checkpoint just north of Laredo, Texas, will be for suppliers only, not Tesla owners

Tesla has reportedly gained an exclusive lane at a remote US-Mexico border crossing after Elon Musk recently struck a deal with the “pro-business” state of Nuevo León.

The electric car company’s suppliers traveling from Mexico into Texas can use a dedicated lane to speed up their crossing at the Colombia Solidarity site, Bloomberg reported, a less popular checkpoint just north of Laredo. Tesla relies on at least six suppliers in Nuevo León, which borders the US for about 10 miles and is closer to the car company’s new headquarters in Austin. The lane is for suppliers only, not Tesla owners.

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Tesla sells 75% of its bitcoin as profits slump due to production challenges

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CEO Elon Musk said the cryptocurrency sale was to maximize its cash position only, but prices still slid after Wednesday’s report

Tesla’s second quarter of 2022 came to a shaky end as the electric carmaker reported a drop in profit after it struggled to meet demand due to a shutdown of its Shanghai factory and production challenges at new plants. The company also sold 75% of its bitcoin holdings, leading to a slide in the cryptocurrency price.

Tesla’s second-quarter profit fell 32% from record levels in the first quarter, with the company reporting a $2.26bn net profit on Wednesday.

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Tech company earnings reports expected to bring a flush of bad news

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Some US firms have announced hiring slowdowns and layoffs in recent weeks amid fears of recession

As top tech companies prepare to release their quarterly earnings reports starting next week, investors are bracing for bad news.

Several US tech companies have announced hiring slowdowns and layoffs in recent weeks, and the difficulties are expected to continue. “It’s not a great time for tech in general,” said Paul Verna, an analyst at Insider Intelligence, a market analysis firm. “There is no question that companies are going to be spending less, cutting back budgets, and maybe implementing hiring freezes. None of that is good news for the next quarter.”

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Tesla hit by new lawsuit alleging racial abuse

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Fifteen black former or current employees allege they faced racial abuse and harassment at carmaker’s factories

Fifteen black former or current employees at Tesla filed a lawsuit against the electric carmaker on Thursday, alleging they were subjected to racial abuse and harassment at its factories.

The workers said they were subjected to offensive racist comments and behaviour by colleagues, managers, and human resources employees on a regular basis, according to the lawsuit filed in a California state court.

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Twitter set to comply with Elon Musk demand for data on fake accounts

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Network ready to provide stream of daily data after world’s richest man threatened to pull out of $44bn purchase if Twitter refused

Twitter is preparing to comply with Elon Musk’s demand for data on fake accounts, after the Tesla chief executive threatened to walk away from buying the business if it refused.

The social media company will provide the world’s richest man with access to a stream of data comprising more than 500 million tweets posted every day, according to the Washington Post.

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Elon Musk seeks 10% job cuts at Tesla over ‘super bad feeling’ about economy

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Email to executives also calls for hiring freeze at electric car maker, which has 100,000 staff worldwide

Elon Musk is considering a hiring freeze and job cuts of up to 10% of staff at Tesla because he has a “super bad feeling” about the state of the economy, according to an internal email seen by Reuters.

Tesla currently has about 5,000 job openings advertised worldwide, and 100,000 employees. The email was sent to Tesla executives late on Thursday with the subject line “pause all hiring worldwide”, and comes days after Musk ordered all employees to return to the office for at least 40 hours a week or face immediate termination.

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