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Tesla News
Insider
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423
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A lawsuit accuses Tesla of juicing odometers. So do these drivers.
- A new class action lawsuit accuses Tesla of intentionally manipulating the mileage shown on its electric vehicles' odometers to more quickly void its warranties.
- Some Tesla drivers have reported higher odometer readings than expected, impacting warranties, lease terms, and the car's range claims.
- One Tesla owner noticed her car had registered 7,000 miles in five months, despite driving significantly less.
- Multiple Tesla drivers observed discrepancies between their actual mileage and what was shown on the odometer.
- A California driver filed a lawsuit claiming Tesla used algorithms to manipulate mileage readings, leading to warranty issues.
- Drivers expressed concerns about the impact of inaccurate odometer readings on warranties, lease agreements, and resale value.
- Tesla has not publicly commented on the allegations but has denied all material allegations in court filings.
- Issues with odometer readings could lead to extra costs for lessees, warranty voiding before expected, and undermine trust in the company.
- Complaints about Tesla's odometers are not new, as the company faces multiple legal challenges and investigations related to its business practices.
- Tesla has been accused of inflating range projections, exaggerating claims, and mishandling service appointments, leading to various lawsuits and regulatory fines.
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Mensjournal
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0
Tesla's Cybertruck Isn't Cool Anymore—and That Might Save It
- Tesla is repositioning the Cybertruck as a rugged, functional workhorse, focusing on utility and everyday use.
- The new marketing strategy is aimed at attracting truck buyers who may have dismissed the Cybertruck as a novelty.
- Tesla has sold fewer than 6,500 Cybertrucks last quarter, indicating the need for a shift in approach.
- The Cybertruck's initial reception was marred by recalls, performance questions, and social media mockery.
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Pymnts
3w
352
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Tesla Eyes June Launch for Robotaxis Amid Decline in Sales
- Automotive manufacturer Tesla is reportedly rolling out trials of its ridesharing service, giving employees access, as it looks to expand that service later this year.
- According to Tesla, the ride-hailing service uses a suite of features called full self-driving, but the cars still require continual driver supervision and are not considered autonomous.
- Tesla plans to unveil a driverless version of the software that will still be remotely supervised, starting in Austin with 10 to 20 Model Y vehicles before scaling further and expanding to other cities and vehicle models.
- Tesla executives discussed the company's sluggish sales, which have fallen 41% year to date, and CEO Elon Musk mentioned plans to refocus on the automotive firm and pull back from his work with the U.S. government.
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Insider
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202
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Elon Musk says he's refocusing on Tesla. Satellite images show Musk's growing business empire in Texas.
- Elon Musk has moved all of his major companies' headquarters to Texas in the last five years.
- Satellite images show the expansion of SpaceX, Tesla, X, and The Boring Company in Texas.
- Musk announced plans to refocus on Tesla, stepping back from other responsibilities.
- In the late 2010s, Musk moved his companies to Texas for a business-friendly environment.
- SpaceX, Tesla, X, and The Boring Company have headquarters or ties to Texas.
- SpaceX's Starbase in Boca Chica, Texas, raises environmental concerns.
- Bastrop, Texas, has become a corporate campground for Musk's companies.
- Tesla's gigafactory in Texas covers 10,000,000 square feet, equivalent to 173 football fields.
- Musk plans to expand Neuralink in Austin and is involved in educational initiatives in Texas.
- Musk is expanding globally with Tesla gigafactories in China and Germany.
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TechCrunch
3w
79
Image Credit: TechCrunch
Tesla begins ‘FSD Supervised’ ride-hail tests with employees in Austin, Bay Area
- Tesla has begun testing its autonomous ride-hail service with employees in Austin and the Bay Area.
- The service, called FSD Supervised ride-hailing, is live for an early set of employees.
- Tesla plans to launch a robotaxi service in Austin in June.
- Currently, Tesla has a permit to test autonomously with a safety driver in California.
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Insider
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233
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Part-time CEOs like Elon Musk can be fine — until business does badly
- Elon Musk plans to reduce his time on government work to focus more on Tesla, though overseeing multiple companies could pose challenges.
- Investors are generally accepting of 'multi-CEOs' during successful times, but this can change if business performance declines.
- Despite scaling back government involvement, Musk still has various companies like Tesla and SpaceX under his purview.
- Christopher Myers from Johns Hopkins Carey Business School expressed concerns about Musk's ability to devote sufficient attention to each company.
- Lorenz Graf-Vlachy noted that Musk's ties to DOGE could deter potential Tesla buyers, necessitating more focus on resolving issues within the company.
- Investors reacted positively to Musk's plan to concentrate on his companies, with Tesla shares rising over 5% following the announcement.
- Analysts, including Wedbush Securities' Dan Ives, suggest that Musk should prioritize leading Tesla full-time to address challenges.
- Musk's management style, described as 'nano-managing,' raises questions about effectively overseeing a diverse portfolio of companies.
- Jonathan Marshall highlights the importance of delegation and trust in managing multiple businesses simultaneously.
- Despite Musk's proven capability in managing multiple entities, there are concerns about the extent to which a multi-CEO model can be sustained.
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Teslarati
3w
22
Image Credit: Teslarati
Tesla says it has launched ride-hailing Robotaxi teaser to employees only
- Tesla has launched an abbreviated version of its Robotaxi fleet to employees in Austin and the San Francisco Bay Area.
- The fleet uses Tesla's Full Self-Driving (Supervised) suite and has completed over 1,500 trips, totaling 15,000 miles of driving.
- The service helps Tesla develop and validate their Full Self-Driving networks, as well as create a mobile app for ride requests and vehicle allocation.
- Tesla is on track to launch a pilot version of the Robotaxi program in Austin in June.
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Insider
3w
412
Image Credit: Insider
'Too late dude': Traders online are unmoved by Elon Musk's planned return to Tesla
- Traders online are not impressed by Elon Musk's planned return to Tesla.
- Retail investors believe the brand damage might be irreversible, and Musk's focus on politics has caused distractions for the company.
- Despite Musk's return, investors don't expect a significant impact on Tesla's underwhelming Q1 earnings and the reputational damage.
- Some investors suggest Musk needs to concentrate on fixing Tesla's fundamentals and address the significant brand damage caused by his politics.
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Insider
3w
432
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Elon Musk says China wants assurances that magnets for Tesla's humanoid robot won't be used for 'military purposes'
- Elon Musk said that 'China wants some assurances' that rare-earth magnets supplied to Tesla for its Optimus humanoid robot won't be used for military purposes.
- Production of the humanoid robot could face some delays as Tesla deals with challenges, such as convincing China that some of the robot's parts would not be used for military purposes.
- Musk said that Tesla is 'working through' the supply chain issue with China, and will 'hopefully' get a license to use the magnets.
- Tesla expects to scale Optimus 'faster than any product,' and aims to produce a 'million units per year' in under five years.
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Zycrypto
3w
375
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Tesla Still Holds Almost $1 Billion In Bitcoin As Elon Musk Promises To Step Back From DOGE
- Tesla continues to hold 11,509 BTC on its balance sheet, valued at around $1 billion.
- Tesla sold 10% of its Bitcoin cache in Q1 2021 to prove liquidity of Bitcoin as an alternative to holding cash on the balance sheet.
- Elon Musk, CEO of Tesla, plans to reduce his time allocation to DOGE (Department of Government Efficiency) and focus more on Tesla.
- Musk will continue to spend a day or two per week on his prominent government gig for as long as the president wants.
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TechCrunch
3w
282
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Anti-Musk protests are now an official risk to Tesla’s business
- Protests against Elon Musk and Tesla have been listed as an official 'risk factor' by the company in paperwork filed with the Securities and Exchange Commission.
- The protests, a response to Musk's involvement in the Trump administration, could damage Tesla's brand and business.
- The updated risk factor language explains that the protests have incited violence and may harm Tesla's brand, business, and ability to raise funds.
- While no link has been established between protests and acts of vandalism against Tesla's showrooms, the company acknowledged that they are having a negative impact.
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Teslarati
3w
66
Image Credit: Teslarati
Tesla analyst sees brighter future after Elon Musk reduces DOGE work
- Wedbush Securities analyst Daniel Ives raises Tesla's price target from $315 to $350 with a BUY rating, citing a brighter future after Elon Musk's plan to reduce his time with DOGE team.
- Ives views Tesla's recent earnings call as a turning point in the company's story, allowing Musk to pivot away from the DOGE/Trump association and recommit as CEO of Tesla.
- Musk confirms that he will significantly reduce his time with DOGE starting from next month and focus more on Tesla.
- Musk differentiates himself from the U.S. President by sharing his stance on Trump's auto tariffs, emphasizing that the decision is up to the President and mentioning that he advocates for lower tariffs.
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The Verge
3w
27
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Elon Musk’s robotaxi fantasy is starting to unravel
- Elon Musk promises 'millions' of autonomous Tesla vehicles on the road by the end of next year.
- Musk's promises of achieving full self-driving capabilities have consistently failed to materialize.
- Tesla's driver assist features, Autopilot and Full Self-Driving, have come under investigation for fatalities.
- Amid Tesla's mounting financial problems, Musk looks to redirect attention towards his autonomous vehicle fantasy.
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Insider
3w
255
Image Credit: Insider
Tesla spikes 9% as investors cheer Musk's plan to step back from politics
- Tesla shares jumped 9% as investors cheered Elon Musk's plan to step back from politics.
- Musk's announcement to allocate more time to Tesla on the earnings call eased investors' concerns about his divided attention.
- Despite weak quarterly earnings, Musk's renewed focus on the company is seen as positive, potentially addressing some of Tesla's challenges.
- Shareholders hope that the shift in focus will open a brighter chapter for Tesla, with autonomous and robotics initiatives in the forefront.
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Insider
3w
203
Image Credit: Insider
Why Tesla's Robotaxi launch is the one deadline it can't miss
- Elon Musk and Tesla are preparing for the Robotaxi launch in June, a critical moment for the company's future and investor confidence.
- Tesla has a history of missing deadlines, but the success of the Robotaxi launch is paramount, given the challenges the company is facing.
- The launch of Robotaxi, part of Tesla's autonomous driving ambition, is crucial for profitability and to establish itself amidst fierce competition.
- Investors are looking for Tesla to deliver on its promises, especially regarding unsupervised Full Self-Driving (FSD) technology.
- Musk has emphasized the significance of self-driving technology to Tesla's value, positioning the company as a tech innovator rather than a traditional automaker.
- Tesla is under pressure to meet the June launch deadline for Robotaxi, as missing it could worsen the already challenging year for the company.
- Despite Musk's track record of setting optimistic deadlines and missing them, the success of the Robotaxi launch is seen as essential for Tesla's future growth.
- Investors are closely watching Tesla's progress with autonomous driving technology, as it forms a key part of the company's long-term strategy.
- Tesla's stock price reacted positively after Musk's commitment to the Robotaxi launch, indicating the importance of meeting this deadline.
- The stakes are high for Tesla with the Robotaxi launch, as it represents a significant milestone in the company's journey towards autonomous driving technology.
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