Day: July 3, 2017

Amazon completes its acquisition of Middle Eastern e-commerce firm Souq

 Amazon has completed its acquisition of e-commerce firm Souq.com, which was first announced at the end of March and sees the U.S. retail giant enter the Middle Eastern market. The deal is officially undisclosed, but sources previously told TechCrunch that Amazon is paying around $650 million. Bloomberg previously reported that Amazon was in discussions over an investment at a valuation in… Read More

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Elon Musk says first Model 3 will exit the factory Friday

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Tesla’s affordable mid-size electric sedan, the Model 3, is ready for production, and the first car (Musk calls it SN1 which likely means serial number 1) will be completed on Friday. 

That’s according to Elon Musk, who shared the news on Twitter, explaining the Model 3 passed “all regulatory requirements for production two weeks ahead of schedule.” 

Musk also tweeted that he plans to throw a “handover party” for the first 30 Model 3s to be handed to customers on July 28. He says that production will grow “exponentially,” meaning the company should be producing 100 cars in August, more than 1,500 in September, and 20,000 in December.  Read more…

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