Volkswagen aims to produce almost 50% more electric cars than it previously targeted, boosting a bet that has already strained profit margins.
Tesla said it’s rolling out new technology that will cut typical recharging times for its electric vehicles to about 15 minutes.
Tesla CEO Elon Musk caught many employees by surprise with his announcement last week that the electric-car maker would close most stores and shift to online-only sales.
Elon Musk said on Sunday that Tesla will unveil its Model Y crossover in less than two weeks, as questions about store closures and employee layoffs threaten the company’s growth narrative.
Elon Musk’s Twitter habit is putting him in increasing legal jeopardy, with the Tesla CEO facing millions of dollars in additional fines, tighter restrictions on his use of social media and even a possible bar on running the company, experts say.
Elon Musk is facing a new round of regulatory trouble for tweets about Tesla, raising fresh concerns about the billionaire CEO’s ability to keep his impulses in check and responsibly run a public company.
Elon Musk has backed himself into a corner with Tesla’s most crucial car. Some would-be customers have waited almost three years to take delivery of the Model 3,
Tesla is to cut its workforce by about 7% after a difficult year for the electric car maker. “The road ahead is very difficult,” the company’s founder and CEO Elon Musk said in an e-mail to employees.
Hours after launching its first rocket of the new year on Friday morning, the Elon Musk-led company told employees that roughly 10% of SpaceX’s workforce would be laid off.
Tesla may offer an option on the upcoming Roadster sports car to enable drivers to float above the ground using thrusters from Elon Musk’s rocket company, SpaceX.