It doesn't seem like there are any other cars on the market right now that have as many easter eggs as Tesla's cars do.Most of them are even hidden directly in front of the driver, but chances are you haven't even seen them.If you press button on your Tesla's charge handle, the light around the charge port flashes rainbow colors.Something to keep you entertained while you wait for your car to charge.If you've purchased Tesla's Autopilot software, turn it on four times quickly to display a Mario Kart-like rainbow road on your gauge cluster screen.Elon Musk referred to this rainbow Easter egg as a "psychedelic cowbell road."
Elon Musk s Tesla Motors has changed its name to Tesla Inc., as the auto maker repositions itself as an integrated clean-energy company after its tie-up with SolarCity Corp.Tesla closed its $2.6 billion acquisition of SolarCity in November, combining Mr. Musk s electric-car and solar-energy companies.Mr. Musk, who was chairman of SolarCity and the largest shareholder of both companies, wants to target customers with solar panels and batteries to let them power their homes and electric cars with clean energy.
Tesla has officially changed its name to Tesla, Inc., from its previous official corporate title of Tesla Motors, Inc.The name change likely reflects the expanded nature of its business now that it own SolarCity, and creates battery packs for both home and commercial use, aspects of the company which Tesla CEO Elon Musk has said previously will take on growing importance to its business overall.Tesla, Inc. picked up SolarCity in late 2016, a solar power company founded by Musk s cousins where he also acted as chairman of the board.Tesla also introduced its second-generation Powerwall battery storage device for home use last year, as well as its Powerpack 2.0 commercial solar energy storage solution.The company also revealed plans to create solar roof panels that look like ordinary roof tiles, which it aims to begin shipping to customers later this year.The company changed its website URL from Teslamotors.com to just Tesla.com last year, and it lists itself as not just an automaker, but also a technology and design company with a focus on energy innovation in its official about page, so the official name change was a long time coming.
Joining the great ranks of icons like Rihanna and Aristotle, Tesla is growing up and dropping its last name.On Wednesday, the company officially changed its name from Tesla Motors to Tesla Inc as its leader, human macadamia nut Elon Musk, focuses on shifting the company from just electric cars to a multitude of clean energy solutions.Tesla recently acquired Musk s SolarCity Corp, a clean energy company, so dropping the Motors was inevitable.Corporations ... they grow up so fast.Musk has a lot on his plate these days—between digging a big-ass tunnel, tweeting, warding off the evils of fake news, and launching non-exploding rockets—so hopefully the new name will save him some time.
Tesla Motors has dropped his name off the Motors of the word.the Company is now Tesla Inc.the name change told the news agency Reuters that Tesla is heading, now afraid of the car manufacturers into a versatile energy products manufacturer.Last October, Tesla ceo Elon Musk unveiled a solar panel to operate on the roofing, which would replace separate solar panel.the System also includes a solar city manufacturers Powerwall-battery system, which stores energy more effectively.tesla's European future battery factory after also in Finland.
Joining the great ranks of icons like Rihanna and Aristotle, Tesla is growing up and dropping its last name.On Wednesday, the company officially changed its name from Tesla Motors to Tesla Inc as its leader, human macadamia nut Elon Musk, focuses on shifting the company from just electric cars to a multitude of clean energy solutions.Tesla recently acquired Musk s SolarCity Corp, a clean energy company, so dropping the Motors was inevitable.Corporations... they grow up so fast.Musk has a lot on his plate these days — between digging a big-ass tunnel, tweeting, warding off the evils of fake news, and launching non-exploding rockets — so hopefully the new name will save him some time.
Tesla Inc. and SpaceX were among 31 companies added to an amicus brief late Monday afternoon filed earlier by nearly 100 tech and consumer firms supporting a lawsuit seeking to overturn President Trump's immigration order.Elon Musk s image is that of a brash, uncompromising CEO when it comes to promoting his companies missions to revolutionize the auto, energy and aerospace industries.Yet he s charting a more restrained course in voicing opposition to the Trump Administration and advocating the virtues of moderation in hopes of influencing federal policy decisions.Circuit Court of Appeals denied a government request to block a ruling by a federal judge in Seattle that temporarily halted Trump s executive order barring U.S. entry to people from seven majority-Muslim nations.Many in America don't realize how proud they should be of the legal system, Musk tweeted on Sunday.In the preceding week the South African-born tech billionaire, who emigrated to the U.S. from Canada, issued a cadence of courteous but critical objections to Trump s immigration move that triggered protests nationwide and global outrage.
Tesla Motors officially changed its name on Wednesday.The company, known for its impressive electric cars, will now simply go by Tesla Inc.While it may seem like a small change, the move marks a symbolic shift for the company.For the last few years, Tesla has been pushing beyond electric cars into new areas of business, specifically energy storage and generation.But Tesla's journey to becoming this new company has not always been easy.While the company has celebrated plenty of achievements, it has also experienced its fair share of setbacks.
Last week, Tesla officially changed its corporate name from "Tesla Motors" to "Tesla Inc." Tesla had already dropped the "Motors" from its website address last year, and ahead of reporting fourth-quarter and full-year 2016 earnings, the company had to alert the Securities and Exchange Commission of the new identity.Tesla's financial reporting in 2017 is about to become more complicated: beyond the car business, there's also a burgeoning Tesla Energy business and a new solar business, through last year's acquisition of SolarCity.So the company wants to present itself as an integrated sustainable-lifestyle-solutions conglomerate, with a current market cap of $40 billion.But to think of Tesla this way would be premature.In fact, thinking of Tesla as anything other than a car company is harmful to the long-term health of the enterprise.No value addedMorgan Stanley's lead auto analyst, Adam Jonas, in a note last year to accompany a target-price cut since reversed , put his finger on this problem when he outlined his model for Tesla:"Given SCTY's financial condition and recent reduction in guidance, we have assumed zero value for SCTY equity to TSLA shareholders of $0," he wrote."This dilution to equity with zero value compensation removed $20 from our price target, resulting in a net negative adjustment to our Tesla price target of $3, or a 1% cut from our prior target.Our price target also assumes $0 value from Tesla Energy stationary storage ."That's blunt, and Jonas hasn't much altered his view — Solar City equals zero investor value, and so does Tesla Energy.Tesla Energy is an incipient enterprise at this juncture, and SolarCity has added billions in debt to Tesla's balance sheet.I would go further than Jonas and argue that Tesla Inc.'s various non-auto lines of business could degrade the company's value, as they represent a tax on CEO Elon Musk's time, which is already strained because he is also the CEO of SpaceX.Bear in mind that Musk's companies fit together as critical pieces in a master plan that's intended to accelerate humanity's departure from the fossil-fuel era and provide us a backup home on Mars, in the event of a global catastrophe.Vision meets realityBut there's Musk's vision, and there's the day-to-day plug-and-chug of executing on Tesla's core business, which is the cars.
DUBAI—Dubai s gas-guzzling supercars will soon face greener healthier competition.Tesla Inc. s co-founder and chief executive, Elon Musk, launched the company s electric vehicles in the United Arab Emirates on Monday.This was the Californian company s first foray in the Middle East, which is potentially a big market for its luxury cars and sport-utility vehicles.The electric car maker will accept online orders for its...
(Reuters) – SolarCity, which was acquired by Tesla Inc at the end of last year, slashed nearly 20 percent of its staff in 2016 as it sought to preserve cash amid slowing growth in the rooftop solar industry.In a regulatory filing on Wednesday, SolarCity said it had 12,243 employees at the end of 2016, down 19.8 percent from the 15,273 it reported a year earlier.The cuts affected workers in operations, installations, manufacturing, sales and marketing, according to the filings.The number of people in general and administrative jobs has also fallen since June of last year, the company said.SolarCity had announced job cuts before being acquired by Tesla but did not say how many employees would be laid off.Earlier in the year, it eliminated 550 jobs in Nevada after the state scrapped a key solar incentive.SolarCity officials were not immediately available for comment.The contraction in its workforce marked a sharp reversal from the company’s explosive growth in previous years.In 2015, the number of SolarCity employees swelled by 68.7 percent.SolarCity, founded by the first cousins of Tesla founder Elon Musk, rose rapidly to become the nation’s top rooftop solar installer thanks to innovative no-money-down financing schemes and a vast sales operation.The company at one time had bold ambitions of having 1 million customers by 2018, but began scaling back its plans at the end of 2015 as costs for funding that growth mounted and demand began to slow.By the middle of 2016, SolarCity had agreed to be acquired by Tesla, which said last month it was cutting spending on solar advertising in part by preparing to sell rooftop systems in Tesla’s network of retail stores.The company is also shifting to more cash sales of systems instead of leases in order to generate cash and deliver the cost savings it promised investors would come from the acquisition.Also in the annual filing, SolarCity said sales and marketing expenses fell 3 percent in 2016, in part due to staff cuts and efforts to boost sales efficiency.(Reporting by Nichola Groom; Editing by James Dalgleish)
(Reuters) — California, the largest U.S. car market, plans to allow testing on public roads of self-driving vehicles without human backup drivers by the end of the year, state officials said Friday.The state’s Department of Motor Vehicles is seeking public comment on proposed regulations for driverless testing and public use of autonomous vehicles that will no longer be required to have conventional manual controls such as steering wheels and pedals.Current regulations require such vehicles to have those controls, as well as a backup driver.The proposed change provides a path to the eventual sale and deployment of self-driving vehicles in California, state transportation secretary Brian Kelly said in a statement.The state has licensed 27 companies to test driverless vehicles on public roads, including vehicle manufacturers from BMW to Tesla Inc; suppliers such as Delphi Automotive Plc and Nvidia Corp; technology companies such as Alphabet Inc’s Waymo and China’s Baidu Inc; and a long list of self-driving startups such as Zoox, Drive.ai, AutoX and PlusAI.Also licensed are China-funded electric vehicle startups NextEV and Faraday Future.Earlier this week, California granted a testing permit to ride services firm Uber Technologies [UBER.UL] after a legal standoff last December.The proposed regulations enable manufacturers to certify that their driverless test vehicles can operate without conventional controls.The cars must meet federal safety standards or have an exemption from the National Highway Traffic Safety Administration, DMV Deputy Director Brian Soublet said in a media briefing on Friday.The state will “rely heavily” on the federal guidelines for self-driving vehicles released last fall by the agency, Soublet said.Driverless vehicles must also have a remote operator who is capable of monitoring the vehicle’s operation and communicating with any passengers.A number of automakers have said they plan to begin deploying self-driving vehicles, some of them in commercial fleets, by 2020-2021.California initiated a 45-day public comment period, starting Friday, on the proposed rules changes, to be followed by a public hearing on April 25.(Reporting by Paul Lienert in Detroit; Editing by Richard Chang)
MELBOURNE, Australia—Tesla Inc.’s Elon Musk has set his sights on Australia, betting his company’s battery technology can help solve the country’s energy problems and save it from a repeat of the blackouts that struck households and businesses in the south for several days last year.In a series of Twitter exchanges from his official account in recent days, the Tesla founder offered the company’s energy-storage technology and said he...
Chinese-backed startup Lucid Motors is bolstering its pitch to join Silicon Valley’s electric-car industry, saying its battery-powered “Air” sedan will come with a lower base sticker price than Tesla Inc.’s popular Model S.The catch: it won’t be available until at least 2019.By then, similarly-equipped EVs are expected to be more...
(Reuters) — Tesla Inc said on Wednesday it expects to raise about $1.15 billion from a stock and senior notes offering, an infusion of needed capital as the electric car maker enters pre-production of its upcoming Model 3 electric sedan.A capital raise by Tesla has been anticipated since late last year, gaining steam last month after Chief Executive Elon Musk said the company could be “close to the edge” on cash needs.Some Wall Street analysts had predicted that Tesla would seek to raise as much as $2.5 billion in capital.Tesla has repeatedly turned to Wall Street for fresh capital throughout its history.It has had negative cash flow since 2014 and has posted a quarterly profit only twice since going public.Tesla had $3.39 billion in cash and cash equivalents at the end of 2016, but most comes from a May stock offering, cash from its SolarCity acquisition and nearly $1 billion in draws on its credit facilities.Tesla’s warning that it would spend $2 billion-$2.5 billion in the first half of 2017 in capital expenditures left little cushion at a critical time ahead of its Model 3 production, which the company says will begin in July.The company’s shares, which are down 9 percent since a 52-week year high in February, rose 2.1 percent to $261.11 in after-hours trade.Also In Technology NewsTesla said it would offer $250 million of common stock and $750 million of convertible senior notes due in 2022 in concurrent underwritten registered public offerings.Tesla said it would use the proceeds to “strengthen its balance sheet and further reduce any risks associated with the rapid scaling of its business due to the launch of Model 3, as well as for general corporate purposes.”The Silicon Valley-based company also said Musk will participate by purchasing $25 million of the company’s stock.(Reporting By Alexandria Sage and Ankit Ajmera in Bengaluru)
(Reuters) — Tesla Inc said on Friday it had raised about $1.2 billion, roughly 20 percent more than it had planned, by selling common shares and convertible debt, ahead of the launch of the crucial Model 3 sedan.The company, led by Elon Musk, said it sold 1.3 million common shares at $262 apiece to raise $350 million and that it raised another $850 million through the sale of convertible senior notes due 2022.The electric car company said on Wednesday it planned to sell $250 million worth of stock and $750 million in notes.Tesla had been expected to raise capital since late last year, with the expectations gaining steam last month after Musk said the company could be “close to the edge” on cash needs.Musk had Tesla was considering a number of options, including raising capital, to reduce risk ahead of the upcoming Model 3 sedan, the $35,000 mass-market vehicle on which the company’s future profitability hinges.Tesla said Musk, already the company’s top shareholder with a stake of about 21 percent as of December, bought 95,420 common shares for $25 million in the latest stock sale.The 1.3 million shares sold represents about 0.8 percent of Tesla’s outstanding shares as of Dec. 31.Tesla’s shares were up 0.3 percent at $262.71 in premarket trading on Friday.(Reporting by Rishika Sadam in Bengaluru; Editing by Savio D’Souza)
Building a mass-market electric vehicle and colonizing Mars aren’t ambitious enough for Elon Musk.The billionaire entrepreneur now wants to merge computers with human brains to help people keep up with machines.The founder and chief executive of Tesla Inc. and Space Exploration Technologies Corp. has launched another company called Neuralink Corp., according to people familiar with the matter.Neuralink is pursuing what Mr. Musk...
Tesla Inc. gained a potential ally in China after the country’s most valuable company, Tencent Holdings Ltd., revealed it had bought a 5% stake in the Silicon Valley electric-vehicle maker.The $1.8 billion investment marks a vote of confidence in Tesla Chief Executive Elon Musk, who is facing questions about whether he can meet his ambitious goals of delivering the $35,000 Model 3 sedan on time later this year and at the scale he...
Tencent, currently the largest internet company in China, has bought a 5% stake in Tesla Inc. China's most valuable internet company continues to diversify it's portfolio by picking up a 5% share in Tesla for $1.8 billion.The exchange has boosted Tesla's share value and the original 5% stake has risen to over 2.2 billion since the announcement.Tencent is the creator of WeChat, China's largest social messaging/media app with over 800 million monthly users.TechSpot readers may also know Tencent as the majority shareholder of Riot Games and Supercell Oy.Just as Apple has found huge market success in East Asia, Elon Musk expects China to be one of Tesla's biggest new markets.Since last year, Tesla's car sales tripled in China resulting in 15% of the company's total sales.
Automotive and energy storage firm Tesla Inc has reported that it has shipped 25,000 vehicles in the first quarter of 2017.This marks a 69% increase from the first quarter and a 2% increase from fourth quarter last year.The shipments were a near even split between the Model X and Model S cars.The significant increase marks an impressive track record for the Palo Alto based firm, as their Model S has been the world's best selling plug in electric car for 2015 and 2016.A new Model 3 is set to commence vehicle production on July 2017.The new model will be priced at $35,000, making it significantly cheaper than the current models in order to capture a larger market share.