Tesla looks to strengthen with $2.3bn fundraising round May 2, 2019 Tesla will look to raise around $2.3bn (£1.76bn) by issuing new shares and debt, with chief executive Elon Musk pitching in $10m of his own cash to buy shares. The electric car maker said this afternoon it has filed with regulators to launch the fundraising, after it lost $700m in the first three months of [...]
Tesla pledges a return to black as profitability fails to materialise April 25, 2019 A return to profit escaped Tesla chief Elon Musk for a second consecutive quarter last night. The electric car maker reported a widening $494m (£382.5m) loss after a record drop in deliveries. Tesla posted a deficit per share of $2.90 for the first three months of 2019, compared to the average analyst estimate of a [...]
Elon Musk predicts Tesla will launch a robotaxi service in 2020 April 23, 2019 Elon Musk has promised Tesla will be able to produce so-called robotaxis with no human drivers in parts of the US as soon as next year. Read more: Tesla investigating incident of car catching fire in Shanghai In a webcast ahead of the firm’s quarterly results this week, the outspoken chief executive said its driverless [...]
Tesla’s Musk and SEC ordered to settle out of court within a fortnight April 5, 2019 Tesla billionaire Elon Musk said it was “most likely” that he and the US markets watchdog would be able to settle their differences. A US judge ordered yesterday that the two come to an agreement within a fortnight, and said she could rule on whether Musk violated his recent fraud settlement with the regulator if they [...]
Tesla shares fall after Elon Musk’s company confirms huge quarterly drop in car deliveries April 4, 2019 Tesla shares fell nearly nine per cent in early US trading this afternoon, after the electric car giant said its deliveries have suffered a record 31 per cent quarterly drop. The manufacturer’s stock value fell to $266.32 this afternoon, having closed yesterday at $291.81 as investors digested the results. Read more: Elon Musk helps Sheryl [...]
Peltarion, the AI startup used by Nasa, Ocado and Tesla, raises $20m February 14, 2019 Swedish artificial intelligence (AI) startup Peltarion is heading across the Atlantic after closing a $20m (£15.5m) funding round. The series A funding was led by Euclidean Capital, which has also backed the likes of popular DNA ancestry startup 23 And Me. Existing investors FAM, which is owned by Swedish investor family the Wallenbergs, and EQT Ventures also took [...]
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 [...]
Tesla tops revenue forecasts but profits take a hit January 30, 2019 Electric vehicle manufacturer Tesla has posted a smaller profit tonight than in its previous quarter, as fresh legislation and ramped up production costs took a bite out of its success. The firm made a net profit of $139.5m (£106.4m) in the three months ending 31 December, compared with a $311.5m profit in the previous quarter when it still [...]
Apple sales come to the fore as big tech firms brace for crunch results January 29, 2019 Silicon Valley will be preparing for market instability this week as several members of the so-called Faang grouping gear up to report quarterly results for the recent festive period. Three members of the big tech club – which includes Facebook, Apple, Amazon, Netflix and Google – will publish figures amid rising speculation that their time [...]
CEO Elon Musk reveals plan to slash Tesla headcount as electric car firm targets “tiny profit” January 18, 2019 Tesla is set to cut its workforce by around seven per cent, sending shares down in pre-market trading. Chief executive Elon Musk told staff that the company has "no choice" but to reduce its full-time employee headcount after growing unsustainably large. Read more: US billionaire reveals significant stake in Tesla Musk also blamed squeezing margins at [...]