Technology 

Tesla starts taking Model 3 orders in China

FILE PHOTO – A parking lot of predominantly new Tesla Model 3 electric vehicles is seen in Richmond, California, U.S. June 22, 2018. Picture taken June 22, 2018. REUTERS/Stephen Lam (Reuters) – Tesla Inc has started taking orders for its Model 3 sedan in China for a deposit of 8,000 yuan ($1,153.60), according to the electric carmaker’s China website www.tesla.cn/model3/reserve. Chief Executive Officer Elon Musk said, “Probably some deliveries in March, but April is more certain”, after a Twitter user asked when the deliveries in China would begin. Tesla declined…

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VW plans to sell electric Tesla rival for less than $23,000: source

FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) intends to sell electric cars for less than 20,000 euros ($22,836) and protect German jobs by converting three factories to make Tesla (TSLA.O) rivals, a source familiar with the plans said. VW and other carmakers are struggling to adapt quickly enough to stringent rules introduced after the carmaker was found to have cheated diesel emissions tests, with its chief executive Herbert Diess warning last month that Germany’s auto industry faces extinction. Plans for VW’s electric car, known as “MEB entry” and with a production volume…

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Tesla names director Denholm to replace Musk as board chair

(Reuters) – Tesla Inc has named director Robyn Denholm as board chair, fulfilling a demand by the U.S. Securities and Exchange Commission to strip the job from Elon Musk, the electric car maker’s wayward chief executive who has dragged the company through months of turbulence. The appointment was required as part of a September deal Tesla struck with the securities regulator to settle fraud charges against Musk and Tesla. Legal experts said it was unclear if Denholm, who has been on Tesla’s board for four years, was independent enough for…

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Volkswagen plans to sell electric Tesla rival for less than $23,000: source

FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) intends to sell electric cars for less than 20,000 euros ($22,836) and protect German jobs by converting three factories to make the Tesla (TSLA.O) rival, a source familiar with the plans said. FILE PHOTO: Volkswagen logos are pictured during the media day of the Salao do Automovel International Auto Show in Sao Paulo, Brazil November 6, 2018. REUTERS/Paulo Whitaker/File Photo VW and other carmakers are struggling to adapt quickly enough to stringent rules introduced after the carmaker was found to have cheated diesel emissions tests,…

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Technology 

Tesla names new chair to replace Elon Musk

Image copyright Reuters Electric car company Tesla has appointed an executive at Australian company Telstra to chair its board. Robyn Denholm takes over the role from founder Elon Musk, who will remain as Tesla’s chief executive. Mr Musk agreed to give up the chairmanship last month to resolve claims of fraud brought by US financial regulators. The settlement requires Tesla to install an independent chairman, among other penalties. The move scotches reports that James Murdoch might have been appointed to the job. Tesla has endured a difficult few months, following…

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Tesla develops plan to make 3,000 Model 3s per week in Shanghai to cut tariff impact

FILE PHOTO: Rows of the new Tesla Model 3 electric vehicles are seen in Richmond, California, U.S., June 22, 2018. REUTERS/Stephen Lam/File Photo (Reuters) – Tesla Inc (TSLA.O) said on Friday that it is developing plans to start producing about 3,000 Model 3 vehicles per week in Shanghai in the initial phase of its Gigafactory 3 to reduce the impact of tariffs. The company also said here in a filing that Model S and Model X sales in China have been, and will likely continue to be, hurt by recently…

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Tesla discloses more regulatory credits helped profit in third quarter

FILE PHOTO: A man walks near a logo of Tesla outside its China headquarters at China Central Mall in Beijing, China July 11, 2018. REUTERS/Jason Lee/File Photo SAN FRANCISCO (Reuters) – Tesla booked $189.5 million in automotive regulatory credits in its third quarter which helped contribute to profitability, the company said in a quarterly filing on Friday. Last month Tesla disclosed $52 million in “zero emission vehicle” credit sales, but the quarterly filing includes all regulatory credits, including the ZEV credits. Higher gross margins that exceeded Tesla’s guidance in the…

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U.S. securities regulator subpoenas Tesla on Model 3 production estimates

SAN FRANCISCO (Reuters) – Tesla Inc said on Friday it had received a subpoena from the U.S. Securities and Exchange Commission over forecasts it made about Model 3 production in 2017, a set of targets the electric vehicle company failed to hit on time. FILE PHOTO: A Tesla charging station is seen in Salt Lake City, Utah, U.S., September 28, 2017. REUTERS/Lucy Nicholson/File Photo The SEC issued subpoenas over “certain projections that we made for Model 3 production rates during 2017 and other public statements relating to Model 3 production,”…

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SEC subpoenas Tesla on Model 3 production estimates

FILE PHOTO: A Tesla charging station is seen in Salt Lake City, Utah, U.S., September 28, 2017. REUTERS/Lucy Nicholson/File Photo (Reuters) – Tesla Inc said on Friday it received a subpoena from the U.S. Securities and Exchange Commission regarding certain projections the electric car maker made for Model 3 production rates during 2017. The company said no government agency in ongoing investigations has concluded that any wrongdoing occurred. “Should the government decide to pursue an enforcement action, there exists the possibility of a material adverse impact on our business, results…

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Tesla auto-park upgrade to be ready in six weeks: Musk

FILE PHOTO: A Tesla Model S electric car is seen at its dealership in Seoul, South Korea July 6, 2017. REUTERS/Kim Hong-Ji (Reuters) – An upgrade to Tesla Inc’s ‘Summon’ auto-parking feature will be ready within six weeks and will allow its vehicles to drive around a parking lot, find an empty spot and read parking signs, Chief Executive Elon Musk said on Thursday. The upgrade will be compatible in all Tesla cars made in the past two years, Musk said in a series of tweets bit.ly/2Puaeur on Thursday. “Car…

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