Faraday Future’s bankrupt founder gets OK for reorganization plan

The billionaire founder of electric-car startup Faraday Future — who boldly challenged Tesla with a far-out car design in 2015, only to file for personal bankruptcy last fall — said Friday his Chapter 11 restructuring plan has won court approval. The nod from a federal bankruptcy judge is a win for Faraday Future’s ex-chief executive […]

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Tesla close to rolling out car with ‘million mile’ battery: report

Tesla is getting closer to unveiling its first-ever “million mile” car battery. The electric automaker by early next year plans to roll out Model 3 sedans containing a new lower-cost, longer-life battery in China, according to Reuters. The upgraded batteries, which CEO Elon Musk has long teased investors and rivals with, are designed to last […]

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Tesla reportedly threatens factory workers’ unemployment benefits

Tesla has told employees at its Fremont, California, factory that they risk their unemployment benefits if they don’t get back to work on the assembly line following a seven-week coronavirus lockdown, according to a report. “Once you are called back, you will no longer be on furlough so if you choose not to work, it […]

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California reaches deal with Tesla to reopen factory

California officials say they’ve reached a truce with Tesla over the company’s efforts to restart its Bay Area factory in spite of the coronavirus crisis. Alameda County’s Public Health Department agreed that Tesla can ramp up operations at its Fremont car plant this week and fully reopen as soon as Monday if it takes sufficient […]

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Dispute over reopening California Tesla factory may be over

It appears the dispute between Tesla and San Francisco Bay Area authorities over the reopening of a factory in the face of shutdown orders is coming to an end. The Alameda County Public Health Department announced on Twitter early Wednesday that the Fremont, California, plant will be able to go beyond basic operations this week […]

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Elon Musk becomes champion of defying virus stay-home orders

Tesla CEO Elon Musk has emerged as a champion of defying stay-home orders intended to stop the coronavirus from spreading, picking up support — as well as critics — on social media. Among the supporters was President Donald Trump, who on Tuesday morning tweeted that Tesla’s San Francisco Bay Area factory should be allowed to […]

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Tesla, Defying Local Order, Plans to Restart Factory: Live Business Updates

[embedded content] Here’s what you need to know: Elon Musk says Tesla is restarting production despite a county order. Asian markets tumble amid spate of negative virus news. China bans some beef from Australia as tensions flare. Why Wall Street has become so disconnected from economic reality. Catch up: Here’s what else is happening. ImageCars […]

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Elon Musk says he’s willing to be arrested as Tesla reopens Fremont factory

Tesla CEO Elon Musk escalated his quarantine battle with California officials on Monday by saying he would restart vehicle production at his company’s northern California factory in spite of lockdown orders intended to stem the spread of the coronavirus. “Tesla is restarting production today against Alameda County rules,” Musk tweeted just before 5 p.m. to […]

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Tesla lays out reopening plans amid California coronavirus spat

Tesla laid out a plan for reopening factories — amid the coronavirus crisis and a spat with California officials who shut down its plant there. The 38-page “Return to Work Playbook” Tesla published Saturday calls for a wide range of precautions to keep plants clean and prevent the virus from spreading among workers. It came […]

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Elon Musk plans to move Tesla to Texas or Nevada over coronavirus gripes in CA

Elon Musk announced Saturday he plans to move Tesla to either Texas or Nevada — after the electronic carmaker was told it could not reopen Friday by California health officials. “Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity […]

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Tesla Tells Workers It Will Reopen California Factory Despite County Order

Tesla told employees it would restart its factory in Fremont, Calif., on Friday. But the electric car company’s plans do not comply with a local government order that has not cleared large manufacturers to resume operations. The company informed employees of the plan in companywide emails sent late Thursday and early Friday. The emails were […]

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Tesla wants to restart production at California plant on Friday

Tesla reportedly plans to restart its California plant as soon as Friday as the state lifts coronavirus restrictions for manufacturers. The electric-car maker wants to resume production at the Bay Area factory on Friday afternoon, CEO Elon Musk told employees in a Thursday email reported by Bloomberg News. Tesla shut down assembly lines there in […]

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Tesla shares drop after Elon Musk tweets ‘stock price is too high’

Tesla shares took a dive after Elon Musk unleashed a bizarre Twitter rant on Friday morning, saying that the electric-car company’s “stock price is too high.” “Tesla stock price is too high imo,” Tesla’s billionaire boss tweeted at 11:11 a.m. ET, sending shares in the Silicon Valley-based company, which were hovering slightly ahead of their […]

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Elon Musk slams ‘fascist’ coronavirus lockdowns in Tesla earnings call

Tesla CEO Elon Musk on Wednesday night doubled-down on his criticism of the coronavirus lockdowns that have shut down life in the United States, calling public officials’ directives to stay home “fascist.” The billionaire’s expletive-filled outburst came during Tesla’s earnings call, where the electric automaker was celebrating its third consecutive quarterly profit. On the topic […]

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Tesla shares spike as automaker delivers third-consecutive profitable quarter

Tesla on Wednesday delivered its third consecutive quarterly profit, sending the stock up more than 7 percent in extended trading and putting Elon Musk within arm’s reach of a $750 million payday. The electric automaker reported earnings per share of $1.24, while the Street had been expecting a loss of 36 cents per share. The […]

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Elon Musk slams coronavirus lockdowns: ‘FREE AMERICA NOW’

Billionaire Tesla boss Elon Musk lashed out Wednesday at lockdowns meant to contain the coronavirus in a series of early-morning Twitter posts echoing calls from protesters around the US. “FREE AMERICA NOW,” Musk  tweeted at 2:15 a.m. The 48-year-old tech tycoon crowed “Bravo Texas!” in an earlier post hailing the Lone Star State for moving […]

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Elon Musk poised to bag $750M as Tesla workers face furloughs

Elon Musk is speeding toward a $750 million payday — even as Tesla employees are getting slammed by pay cuts and hundreds of hourly workers are furloughed. After getting hit by factory closures that the coronavirus epidemic mandated, Tesla shares have lately been making a comeback, with investors hoping for news that its plant in […]

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Tesla asks employees to return to work before coronavirus lockdown ends

Tesla has asked some employees at its California factory to return to work before the end of a lockdown order that shut down the plant last month, according to reports. Elon Musk’s electric-car maker told some paint and stamping operations workers to report to the Fremont, California factory on Wednesday — four days before the […]

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Net worth of America’s billionaires surges during coronavirus pandemic

The combined wealth of America’s billionaires, including Amazon founder Jeff Bezos and Tesla chief Elon Musk, increased nearly 10 percent during the ongoing COVID-19 pandemic, according to a report published by the Institute for Policy Studies (IPS). The wealth surge of America’s richest men happened during a period that saw as many as 22 million […]

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Tesla shares jolted up nearly 30 percent in two days thanks to stock upgrade

Shares of Tesla surged 13 percent on Tuesday after Credit Suisse upgraded its rating on the electric-car maker and as Wall Street rallied on optimism the coronavirus outbreak was reaching a plateau. The stock has jumped nearly 30 percent in the past two days as investors look beyond disruptions caused by the pandemic, which has […]

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Tesla asks landlords for rent reduction during coronavirus pandemic

Tesla has reportedly asked landlords for rent discounts as it tries to cut costs during the coronavirus crisis. The electric-car maker has told at least some of its landlords that it is cutting its monthly rent obligations because of the “increasing restrictions on our ability to conduct business” amid the pandemic, The Wall Street Journal […]

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Tesla to furlough staff, cut salaries as coronavirus idles factories

Tesla plans to furlough non-essential workers and cut employees’ salaries now that the coronavirus crisis has halted production at some of its factories. The electric-car maker will furlough staff who cannot work from home and are not performing crucial work at its plants, a company official told US employees Tuesday. Tesla expects to restart normal […]

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‘Dear Elon’: Ukraine takes up Tesla’s ventilator offer via Twitter

© Reuters. FILE PHOTO: Tesla Inc CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai KIEV (Reuters) – Ukraine has taken to Twitter to ask Elon Musk to send it ventilators after the billionaire chief executive of Tesla Inc (O:) offered to ship them across the world during the […]

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Tesla cuts staff at Gigafactory in Nevada because of coronavirus

Tesla is slashing the number of workers at its Nevada Gigafactory by about 75 percent as the coronavirus pandemic roils the company’s manufacturing operations, local officials say. The electric-car maker told officials in the surrounding Storey County that it would cut its on-site staff at the Reno-area factory “in the coming days,” county manager Austin […]

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Tesla and Industry Criticized at Hearing on Autopilot System

WASHINGTON — A top federal safety official said on Tuesday that Tesla, the auto industry and regulators were not doing enough to prevent accidents involving advanced driver-assistance systems like Tesla’s Autopilot. The criticism from the official, Robert L. Sumwalt, who is chairman of the National Transportation Safety Board, came at the start of a hearing […]

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