Tesla: Nice cars, shame about the bottom line? April 26, 2019 Tesla has just announced its first-quarter financial results, and I’m surprised to see the headline figures aren’t good: a loss of $702 million, and an expectation that the company will bear further losses in Q2 (before, it claims, returning to profit in the third quarter). Reading deeper into the detail, Tesla’s cash reserves plummeted by [...]
Testy Tesla boss Elon Musk sees $2bn wiped from car maker’s market capitalisation May 3, 2018 Tesla boss Elon Musk has paid a steep price for rebuking analysts asking about the company’s profit potential during a conference call – $2bn (£1.47bn) to be exact. The electric car manufacturer yesterday announced its first quarter result, which showed the company had posted its largest ever quarterly loss. To achieve profitability, Tesla will have [...]
Tesla investigating social media video of one of its cars catching fire in Shanghai April 22, 2019 Electric car marker Tesla has said it is investigating a video that is circulating on Chinese social media which appears to show one of its most popular vehicles catching fire. The video shows a stationary Tesla car, identified as the Model S, erupting into flames while in a car park in Shanghai on Sunday evening. Tesla [...]
Tesla to buy battery firm Maxwell Technologies for $218m February 4, 2019 Electric vehicle manufacturer Tesla has agreed to buy energy storage firm Maxwell Technologies for $218m, as part of an all-stock deal to help Tesla build better batteries. Maxwell has developed tech that can help increase the driving range of electric cars while reducing the battery cost. Existing customers of the firm include General Motors and [...]
Space, the investment frontier: The companies that are reaching for the stars July 24, 2019 When Neil Armstrong was the first man to walk on the moon 50 years ago, space was the exclusive domain of two superpowers. Now it has become perhaps the ultimate competitive arena for two tech giants — not to mention a host of other private enterprises that see untold promise and profits in reaching for [...]
Tesla launches new Model Y to enter SUV market March 15, 2019 Tesla has officially launched its second mass-market car, the Model Y. The electric vehicle was unveiled in Los Angeles on Thursday with the company announcing that the first release will be a long-range version at a price of $47,000 (£35,489). It will be able to travel up to 300 miles before it needs recharging, whereas [...]
Tesla boss Elon Musk defends move to dodge analyst’s questions after brusque responses further share price falls May 4, 2018 Tesla boss Elon Musk has defended his decision to dodge questions posed to him by analysts after revealing a record $710m (£523m) loss, after his firm’s share price appeared to suffer as a result. More than $3.4bn was wiped off the value of the Californian car company after it posted results showing it had burned [...]
Elon Musk’s SpaceX successfully launches Falcon 9 Block-5 rocket from Florida’s Cape Canaveral May 12, 2018 Elon Musk’s fledgling aerospace company SpaceX has bounced back from its failure to launch this week, successfully launching its Falcon 9 rocket from Florida’s Cape Canaveral yesterday. The Falcon 9, which is designed to eventually send NASA astronauts into space, was due to launch the day before, but an auto-abort was triggered one minute before [...]
Tesla share price rises as stockholders approve Elon Musk’s $2.6bn compensation plan March 21, 2018 Tesla shareholders have approved a proposal to award chief executive Elon Musk with stock options valued at $2.6bn (£1.8bn) at a special meeting today. The windfall does not include a salary or cash bonus, so it relies on a rise in the company’s market value over the next decade. Shares in the company rose 3.42 [...]
Amazon founder Jeff Bezos unveils plans to send a Blue Origin rocket to the moon by 2024 May 10, 2019 Amazon owner Jeff Bezos has unveiled plans to send a spaceship to the moon by 2024 in his latest attempts to become a leader in space exploration. An unmanned rocked, called Blue Moon, will be around the size of a house, and carry four rovers and other scientific equipment to the moon, he said. Bezos, who [...]