Detroit Bureau on Twitter

Posts Tagged ‘elon musk’

Tesla Cars Will Add Auto-Park Feature, Musk Tweets

Vehicles will be able to go hunting for a spot without a driver.

by Paul A. Eisenstein on Nov.01, 2018

All Tesla Model 3 sedans and newer Models S and X will be able to download the software.

Tired of circling around a parking lot looking for an open spot, perhaps missing a meeting while you wait? Or perhaps you want to don’t want to have to traipse back in snow or rain?

Tesla plans to solve those problems with a series of update that CEO Elon Musk said will start rolling out within six weeks for owners of recently built versions of its products. Upgrading the existing version of Tesla’s “Summon” auto-park feature, it will let a driver get out of their vehicle and then send it off to find a valid parking spot all on its own.

Park Yourself Here!

Noting it will simply require an over-the-air software upgrade,” Musk tweeted on Halloween eve that the new feature “will work on all cars made in past 2 years.”

(more…)

Musk’s Boring Company Set to Offer Test Rides in Pilot Tunnel

Short stretch to debut on Dec. 10.

by Paul A. Eisenstein on Oct.22, 2018

On Dec. 10, Elon Musk's Boring Company will offer free test rides in Los Angeles its test tunnel in California.

Elon Musk’s Boring Company plans to unveil its first “test tunnel” in the Los Angeles suburb of Hawthorne on Dec. 10, and will offer “free rides” to the public a day later, the 47-year-old executive tweeted.

The ultimate goal, Musk previously announced, was to set up a network of underground tunnels that will permit vehicles, pedestrians and bicyclists to whisk around the City of Angels at speeds of up to 150 mph, avoiding the city’s notoriously gridlocked streets. Musk has indicated rides for individuals could run as little as $1.

News You Can Trust!

“The first tunnel is almost done,” Musk tweeted Sunday night to his 23 million followers. The pilot tunnel  “Opens Dec 10,” he tweeted, adding, “Opening event that night & free rides for the public the next day.” (more…)

CEO Musk Risks Becoming Liability for Tesla

Stock plunges again after weepy interview, SEC probe revealed.

by Paul A. Eisenstein on Aug.20, 2018

Musk has said he's been working up to 120 hours a week - but is that really benefitting Tesla?

(This story has been updated with a comment by former GM V.Chairman Bob Lutz.)

Since the era when Lee Iacocca was the seemingly ever-present face of Chrysler, perhaps no other automotive executive has been more closely linked with his company than Tesla’s constantly tweeting CEO Elon Musk – and Iacocca didn’t have access to the social media tools that routinely help Musk make headlines.

But the events of recent weeks have started raising questions about the 47-year-old Tesla chief’s role, some observers beginning to wonder whether Musk is starting to become more asset than liability. That has become underscored in recent days as backlash continues to mount over the tweet Musk posted early this month announces his goal of taking Tesla private and suggesting that the necessary funding had been “secured.”

News Now!

That has triggered a new probe by the Securities and Exchange Commission, it was revealed last week, about the same time Musk sat down by an unexpectedly emotional interview with the New York Times that raised questions about both his health and his ability to remain at Tesla’s helm and, as this week begins, it has led to new warnings about Tesla finances, the automaker’s shares taking a sharp tumble as Monday trading began on Wall Street.

(more…)

Good News, Bad News: A Round-Up of the Latest Tesla Developments

Whistleblower reveals defects; SEC probing Musk tweets and a key analyst raises earnings forecast.

by Paul A. Eisenstein on Aug.16, 2018

Former Tesla employee Martin Tripp tweeted images of what he claimed were faulty Tesla batteries.

Regulators, whistleblowers, analysts and investors? Oh, and did we leave out factories finally emerging from “production hell?” It’s been a busy 24 hours for Tesla and CEO Elon Musk, with a heavy mix of both good news and bad news.

Here’s a summary of key developments including claims for a quality cover-up, an SEC probe and the possibility that Tesla could wind up being more profitable this year than even its most bullish proponents had expected:

Whistleblower claims Tesla covered up battery problems, delivered defective cars to customers.

/about/subscribe

Beyond the Headlines!

Tesla’s battle with Martin Tripp – a self-styled whistleblower whom the carmaker prefers to call a saboteur – is heating up. The former employee at the Gigafactory battery plant has tweeted out images of what he claims are defective lithium-ion battery packs that were nonetheless installed in sedans to help Tesla speed up production of the Model 3. Tripp also posted of vehicle identification numbers that he claims are equipped with the batteries which, among other things, may have punctures.

(more…)

Musk Apology Underscores Increasingly Erratic Behavior

"Do you think I'm insane?"

by Paul A. Eisenstein on Jul.18, 2018

Tesla CEO Elon Musk has come under increasing fire for comments made in recent months.

Tesla CEO Elon Musk has issued an apology for calling one of the divers involved in the rescue of a soccer team caught in a Thai cave a “pedo,” shorthand for pedophile.

The overnight tweet marked one of the rare times the South African-born executive has retreated from what have become increasingly erratic and aggressive comments that, in recent months, have taken aim at journalists, Wall Street analysts, regulators, and even the victim in a fatal crash involving one of Tesla’s battery-electric vehicles.

Beyond the Headlines!

Musk, much like President Donald Trump, has become a regular user of Twitter, developing a broad audience and a loyal fan base for himself and for his company. But as with the president, some of Musk’s tweets have begun raising eyebrows and this week’s attack on diver Vernon Unsworth caused collateral damage to Tesla’s stock which tumbled when Unsworth threatened to sue the eccentric billionaire.

(more…)

Wall Street Souring on Tesla

A good week gone bad.

by Paul A. Eisenstein on Jul.09, 2018

Tesla CEO Elon Musk is promising the company will be in the black by the third quarter.

What was supposed to be a great week for Tesla turned out to be anything but, with analysts and investors largely ignoring CEO Elon Musk’s jubilant announcement of hitting the company’s production target, instead turning increasingly bearish amidst a sharp stock sell-off.

The roller-coaster ride could continue during the next few weeks as Wall Street waits to see what Tesla will report when it releases its second-quarter earnings announcement. The company delivered record losses during the first three months of this year and is expected to remain deep in the red through the end of June. The longer-term question is whether Tesla’s rising production of the critical Model 3 battery-sedan will finally translate into the black ink and positive cash flow Musk has repeatedly promised.

Product News!

For now, however, it appears that a growing number of analysts aren’t particularly optimistic. Of the 31 analysts who cover Tesla shares, 10 now offer “sell” guidance, nearly one in three. A roughly equal number list TSLA shares as “hold,” with only a third now recommending investors “buy.” It is rare, according to the Bloomberg news service, for analysts to go with a “sell” rating, most signaling displeasure with “hold” guidance. (more…)

Tesla Claims Employee Tried to Sabotage Plant – But Refuses to Say if Authorities Were Notified

Musk blames employee who didn’t receive promotion, hints others might be involved.

by Paul A. Eisenstein on Jun.19, 2018

In a letter to employees, Tesla CEO Musk said the Fremont plant was the subject of sabotage.

Tesla CEO Elon Musk advised employees late Sunday that the company had been sabotaged by an employee who sent “highly sensitive” data to unnamed outside parties, but he and Tesla have so far refused to provide details, declining to even say whether police or other authorities, such as the FBI, have been asked to investigate.

Musk’s e-mail to Tesla workers, first reported by CNBC, was sent hours after a small fire at the Tesla assembly plant in Fremont, California briefly shut down due to a fire in its welding area. The incident was deemed minor and work quickly resumed. Tesla has been struggling to boost the factory’s output, primarily of the new Model 3 sedan, and has gone to an around-the-clock production schedule.

Breaking News!

In his note to employees, Musk said an employee committed “quite extensive and damaging sabotage to our operations,” among other things making “direct code changes” in Tesla’s manufacturing system while also sending “large amounts” of “highly sensitive” company data to an address outside the company.

(more…)

Chicago Gives Go to Musk’s Boring Co. for Underground Link to O’Hare Airport

System would take just 12 minutes for 16-mile route, slashing travel times, hassles.

by Paul A. Eisenstein on Jun.14, 2018

Elon Musk's The Boring Co. won the bid to build a new high-speed tunnel from downtown Chicago to O'Hare Airport.

Elon Musk’s Boring Co. has received tentative approval from the City of Chicago to build a link from downtown to its suburb-based O’Hare Airport using skateboard-like pods that could move both vehicles and individual passengers.

The Boring Co. beat out bids by a number of other transit companies, but negotiations still have to be completed before work can begin on the venture which would be privately, rather than publicly funded. It would be “transformative,” Chicago Mayor Rahm Emanuel said in a statement, and that likely goes for the new company launched by Tesla and SpaceX founder and CEO Elon Musk.

News Now!

“We’re really excited to work with the Mayor and the City to bring this new high-speed public transportation system to Chicago!” the Boring Co, tweeted after the city confirmed the discussion had moved to the next phase. (more…)

Tesla Slashing Up to 9% of Workforce

Up to 3,000 likely to lose jobs, but assembly, battery-plant workers expected to be spared.

by Paul A. Eisenstein on Jun.12, 2018

Tesla CEO Elon Musk told employees that the company would lay off 9% of the workforce in a letter.

Tesla will lay off as many as 3,000 workers, or nearly 9% of its workforce, in a bid to reorganize and address endemic problems, according to a letter sent by CEO Elon Musk to company employees.

The first layoffs reportedly were set to take effect this week, according to website Electrek, which obtained a copy of the letter. The automaker subsequently confirmed that the layoffs will take place, but emphasized that production workers will be spared, the cuts targeting the salaried side of a workforce that grew to around 30,000 after last year’s acquisition of Solar City.

Subscribe Now!

If anything, Tesla has been trying to expand the workforce at both its Fremont, California assembly plant and Reno, Nevada Gigafactory in an effort to finally put production of the critical Model 3 battery-sedan on track. Musk recently said Tesla is on track to roll out about 5,000 of the vehicles a week by the end of this month, a roughly 250% increase from the end of the first quarter – though still well below its original target. (more…)

Despite Concerns, Safety Probes, Musk Promise “Full Self-Driving” Autopilot to Debut in August

But CEO Musk doesn’t explain what that actually means.

by Paul A. Eisenstein on Jun.12, 2018

According to a new tweet from Tesla CEO Musk, products like the new Model 3 may soon be updated with full "self-driving" capabilities.

Tesla Version 9, an apparently major software update to the operating system used for the automaker’s vehicles, will debut in August and, according to CEO Elon Musk, add “full sell-driving” capabilities to the controversial Autopilot system.

The news, announced in a Musk tweet late Monday, comes at a time when earlier versions of the semi-autonomous Autopilot system have come under intense scrutiny. A preliminary report by the National Transportation Safety Board has raised serious concerns about how it functioned in the moments leading up to a fatal crash of a Tesla Model X SUV in California earlier this year.

Technology News!

But Musk has repeatedly downplayed such concerns — even pointing his finger at owners who may not have used Autopilot properly – while promising a far more advanced version of the system was coming. And in his late Monday tweet, Musk said, “to date, Autopilot resources have rightly focused entirely on safety (but) with V9, we will begin to enable full self-driving features.”

(more…)