Founder Favourites: Richard Farleigh on what playing chess, investing and starting a business have in common
Elon Musk accuses SEC of forcing him to sign Tesla settlement March 9, 2022 Tesla’s chief executive and serial entrepreneur Elon Musk has accused the US Government of forcing him to sign a settlement that forced him to step down as chairman in 2018. Musk has asked a court to throw away the deal as he said the Securities and Exchange Commission (SEC) had a personal “vendetta” against him. [...]
US investigates 416,000 Tesla cars over braking defect February 17, 2022 The US investigation into Tesla’s malfunctions shows no sign of easing, as the agency in charge of vehicle safety evaluated today 416,000 cars over braking defects. The National Highway Traffic Safety Administration (NHTSA) said today its primary evaluation will focus on 2021-2022 Model 3 and Model Y, following more than 300 complaints of braking issues. [...]
Tesla recalls 580,000 vehicles over boombox feature February 11, 2022 Tesla was forced to recall some 580,000 vehicles after the US National Highway Traffic Safety Administration (NHTSA) flagged an error in the boombox feature. According to the agency, the boombox feature could drown out a safety feature that signals the the presence of an electric car to pedestrians. “While Boombox can enhance the conspicuity of [...]
Tesla recalls 26,000 cars over software error while it braces for harassment lawsuit February 9, 2022 Tesla can’t seem to catch a break these days, as it was forced to recall more than 26,000 cars over a software error, while bracing for a potential racism and harassment lawsuit. According to the US agency in charge of automotive safety standards, software errors could cause a valve in the heat pump to open [...]
Tesla under fire after two senators raise concerns over driving system February 8, 2022 Another turbulent day at Tesla, as two US senators have expressed “significant concerns” over the electric vehicle (EV) giant’s ‘autopilot’ and ‘full self-driving systems’. “We are deeply troubled by Tesla’s design choices that seemingly encourage unsafe driving habits,” Democratic senators Richard Blumenthal and Ed Markey wrote in a letter to the Austin-based company. “These complaints and [...]
Musk faces fresh lawsuit as 2018 tweet comes back to bite him February 7, 2022 Elon Musk faces fresh legal challenge from the US stock market watchdog as his Twitter thread continues to cause problems for the electric car giant Tesla. In 2018, Musk tweeted that he had “funding secured” to take Tesla private, sending its share price soaring. It prompted subsequently prompted a Securities and Exchange Commission (SEC) lawsuit and [...]
Tesla recalls more than 817,000 cars over seat belt chime malfunction February 3, 2022 Tesla was forced today to recall more than 817,000 US vehicles after the National Highway Traffic Safety Administration (NHTSA) flagged a malfunction in the technology that reminds drivers to fasten their seat belts. The agency said that in several models – including the 2021-2022 Model S and Model X, the 2017-2022 Model 3 and the [...]
Tesla revenue exceeds analyst forecasts by more than $1bn January 26, 2022 Tesla enjoyed an upbeat fourth quarter, as its revenue exceeded analyst estimates by more than $1bn. The car manufacturer, which specialises in electric vehicles (EVs), secured $17.7bn in revenue, with analysts expecting a figure closer to $16.6bn. Tesla, the brainchild of billionaire entrepreneur Elon Musk, also reported adjusted earnings per share of $2.54, up from [...]
Analysts forecast record revenues and possible supply chain issues ahead of Tesla results January 25, 2022 Ahead of tomorrow’s full year results, analysts have forecast that while Tesla’s revenue are expected to skyrocket, the car manufacturer could not be exempt from supply chain issues. “I would not be surprised if Tesla has some significant manufacturing challenges, producing the new vehicle structures and new batteries in high volumes,” Sam Abuelsamid, analyst at Guidehouse Insights, [...]
Panasonic invests £522m to produce Tesla EV batteries January 24, 2022 Panasonic has sold its stake in electric car maker Tesla for $3.6bn, a spokesperson for the Japanese company said today. The sale comes as Panasonic looks to raise cash for investing in growth and to reduce its dependence on Tesla. The electronics firm is dominated by Elon Musk’s company, but the two have often had a rocky relationship with executives trading barbs publicly.