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Tesla shares fall 7.6% following price cuts in China and Elon Musk’s promise to reimburse missed tax credits

Monday was a tough day for the U.S. stock market, but Tesla shares were hit especially hard. The stock fell by 7.6 percent after Tesla cut the Model 3’s price in China and CEO Elon Musk promised to reimburse U.S. customers if they miss a tax credit deadline due to Model 3 shipment delays.

Reuters reported this weekend that the Model 3’s prices on Tesla’s China website had been reduced by up to 7.6 percent, with the starting price now at 499,000 RMB (about $72,000). This is the third time since November that Tesla has lowered the price of its vehicles in China.

The first was in November, when it slashed the price of Model X and Model S vehicles by 12 to 26 percent, stating that it was “absorbing a significant part of the tariff to help make cars more affordable for customers in China.” Then this month, Tesla cut Model X and Model S prices again, citing China’s decision to temporarily suspend a new 25 percent tariff on American-produced vehicles and auto parts as the two countries reached a ceasefire in the trade war.

In October, Tesla announced on its site that if U.S. customers needed to order a Model S, Model X, or Model 3 before October 15 if they wanted the full $7,500 federal tax credit, which begins to phase out once a manufacturer sells 200,000 qualifying vehicles in the U.S. (Tesla hit that milestone earlier this year). As a result, the federal tax vehicle will be cut 50 percent to $3,750 for vehicles delivered January 1 to June 30, 2019, before behing halved again on July 1.

On Sunday, Musk tweeted in response to a question that if a customer’s pre-December order isn’t delivered before the end of the year, Tesla will reimburse the tax credits they missed out on.

If Tesla committed delivery & customer made good faith efforts to receive before year end, Tesla will cover the tax credit difference

Elon Musk (@elonmusk) December 22, 2018

After months of production and delivery delays, Tesla ramped up fulfillment of Model 3 orders in the third quarter of this year, when it delivered a total of 83,500 vehicles, including 55,840 Model 3 units.

China’s NIO invests in LiDAR startup Innovusion

Innovusion, a two-year-old startup developing LiDAR sensor technology for autonomous vehicles, has raised $30 million in a Series A funding round co-led by Chinese firms Nio Capital and Eight Roads Ventures along with U.S.-based F-Prime Capital.

Other seed round and strategic investors joined the round, the startup said.

Nio Capital is the venture arm of Nio, the Chinese electric automaker aiming to compete with Tesla. Nio, which raised $1 billion when it debuted on the New York Stock Exchange in September, has operations in the U.S., U.K. and Germany, although it only sells its ES8 vehicle in China.

Innovusion, which was founded in November 2016, says it will use the funding to scale up its operations, specifically to ramp up production of its light detection and ranging sensor system called Innovusion Cheetah. The company began shipping samples of the system in the second quarter of 2018 and is beginning to take customer orders.

The round of funding will allow the Los Altos, California-based company to expand its R&D team and manufacturing facilities to more quickly develop, market and deliver Innovusion Cheetah LiDAR to customers around the world, according to Junwei Bao, the company’s co-founder and CEO. The company primarily is targeting customers in China and the U.S.

LiDAR is used by companies developing autonomous vehicles to detect and measure objects on the road around them. Most of the companies testing AVs believe LiDAR is an essential sensor required to deploy self-driving vehicles safely on public roads. It’s what has propelled demand for LiDAR and, in turn, an array of startups to pop up and try capture market share away from Velodyne, the long-time dominant leader in the space.

Tesla to bring portion of Model 3 production to China next year

Tesla, which reported its first quarterly profits in two years Wednesday, is looking to extend its earnings streak by bringing its new Model 3 to customers beyond North America. And part of that plan involves accelerating its manufacturing plans in China.

Tesla saw its revenue skyrocket to $6.8 billion in the third quarter (and a $312 million profit) thanks to sales of its new Model 3 vehicle, despite production bottlenecks and more recent issues with delivery logistics. The company was able to achieve that profitability milestone just through sales in the U.S. and Canada. That leaves two other massive markets on the table. Cue Europe and China.

Tesla said Wednesday it will start to take orders for the Model 3 in Europe and China before the end of 2018. Tesla said it will begin deliveries of the Model 3 to Europe early next year.

“The mid-sized premium sedan market in Europe is more than twice as big as the same segment in the U.S.,” Tesla said in its shareholder letter released Wednesday. “This is why we are excited to bring Model 3 to Europe early next year.”

Notably, the company is further accelerating its timeline for China and said it will bring portions of Model 3 production to the country next year.

“We are aiming to bring portions of Model 3 production to China during 2019 and to progressively increase the level of localization through local sourcing and manufacturing,” Tesla said in its earnings report. “Production in China will be designated only for local customers.”

Tesla said earlier this month it plans for as rapid build out of a factory in China. But there’s something new here. The term “portions of Model 3 production” is the important phrase. This could be referring to a term used in the manufacturing world known as a complete knock down. CKD is basically a kit of non-assembled parts of a product, like say a Model 3. It’s a strategy used to avoid tariffs when shipping to foreign countries.

Tesla has plans to build a factory in Shanghai, but construction hasn’t even begun yet.

The company secured in October rights to about 210 acres of land in Lingang, Shanghai, the site of the electric automaker’s planned factory and its first outside of the U.S.

Tesla warned in its production and delivery report in early October that tariffs, combined with the cost of shipping its vehicles via ocean carrier and the lack of access to cash incentives available to locally produced electric vehicles, has put the company at a disadvantage in China. Tesla reiterated those cost constraints in its third-quarter earnings report.

Tesla reached a deal in July with the Shanghai government to build a factory that it says will be capable of producing 500,000 electric vehicles a year. Once construction begins, it will take about two years until Tesla can produce vehicles. It will be another “two to three years before the factory is fully ramped up to produce around 500,000 vehicles per year for Chinese customers,” a Tesla spokesman said at the time.

Tesla’s first safety report claims drivers on Autopilot are safer, but lacks detail

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Tesla has released its first Autopilot safety report on Thursday, following promises from CEO Elon Musk in May that the company would do so quarterly after highly-publicised crashes involving its cars.

The one-page report claims that in the third quarter of 2018, there has been one accident or crash-like event for every 3.34 million miles for Tesla cars driven with Autopilot. 

Without Autopilot engaged, Tesla registered one accident or crash-like event for every 1.92 million miles driven. 

Tesla compared their findings to the National Highway Traffic Safety Administration, whose latest data shows “an automobile crash every 492,000 miles,” — this doesn’t include near-misses that Tesla has recorded in its report. Read more…

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Elon Musk: Tesla will remain a public company

Tesla will remain a public company, CEO Elon Musk said Friday night, less than three weeks after he announced to the world via Twitter that he was considering taking the electric automaker private at $420 a share.

Musk, who posted the announcement via Tesla’s blog, said Friday that after speaking with shareholders and investigating the process of taking the company private he believes the better path is for Tesla to remain public. Musk met with Tesla’s board of directors Thursday and told him his decision. The board agreed, he wrote.

Here’s an excerpt:

Given the feedback I’ve received, it’s apparent that most of Tesla’s existing shareholders believe we are better off as a public company. Additionally, a number of institutional shareholders have explained that they have internal compliance issues that limit how much they can invest in a private company. There is also no proven path for most retail investors to own shares if we were private. Although the majority of shareholders I spoke to said they would remain with Tesla if we went private, the sentiment, in a nutshell, was “please don’t do this.”

I knew the process of going private would be challenging, but it’s clear that it would be even more time-consuming and distracting than initially anticipated. This is a problem because we absolutely must stay focused on ramping Model 3 and becoming profitable. We will not achieve our mission of advancing sustainable energy unless we are also financially sustainable.

That said, my belief that there is more than enough funding to take Tesla private was reinforced during this process.

Friday night’s announcement closes a tumultuous 17 days that began with Musk tweeting that he secured funding and was considering taking Tesla private. The tweet wasn’t warmly embraced by the Tesla board or many shareholders. It also prompted the U.S. Securities and Exchange Commission to investigate.

https://twitter.com/elonmusk/status/10268726522903797

While this 17-day ride might be over, the questions over Musk’s behavior (and possible drug use) and the company’s future are likely not.

Tesla is making a $1500… surfboard?

Tesla is no stranger to branded merch. Its got the standard company swag — the hats, the shirts, and the mugs. It’s got quirkier stuff, like miniature Teslas for kids and USB chargers shaped like the Superchargers that juice up their vehicles.

And now they’ve got… surfboards?

While it’s now gone for some reason, a product page went live in its shop early this morning detailing a $1500 Tesla-branded board (we’ve asked Tesla for insight, but it sounds like they sold out.) Electrek caught the description before the page vanished:

“Designed by the Tesla Design Studio in collaboration with Lost Surfboards and Matt “Mayhem” Biolos, surfboard shaper for World Surf League Championship athletes. The Limited Edition Tesla Surfboard features a mix of the same high-quality matte and gloss finishes used on all our cars. The deck is reinforced with light-weight “Black Dart” carbon fiber, inspired by the interiors in our cars, and featuring tonal logos in subtle contrast gloss.”

(Update: the page is back up now, and it is, in fact, sold out)

While its unclear why the product page vanished, a Google cache of it is visible here, and a few people on Twitter mention being able to get orders in before it went down.

At $1500 before tax, the board is… certainly on the higher end of the surfboard pricing scale. A solid board from a company like JS or Ripcurl would cost you around $750. Most of the boards made by Lost (the company Tesla is doing the collab with here) go for around $700-800. But with a limited run of 200 boards, they’re probably going to sell out here anyway. My gut feeling is that many of these could end up being wall pieces or permanent roof rack accessories rather than shredding up the ocean — but who knows.

And for the curious surfers out there: based on Lost’s other “Black Dart” models, this board comes in at 6’8″ long. It doesn’t come with fins. The now-gone product page said all 200 boards should ship within 2-10 weeks.

Here’s all the photos that were on the product page:

Data breach exposes trade secrets of carmakers GM, Ford, Tesla, Toyota

Security researcher UpGuard Cyber Risk disclosed Friday that sensitive documents from more than 100 manufacturing companies, including GM, Fiat Chrysler, Ford, Tesla, Toyota, ThyssenKrupp, and VW were exposed on a publicly accessible server belonging to Level One Robotics.

The exposure via Level One Robotics, which provides industrial automation services, came through rsync, a common file transfer protocol that’s used to backup large data sets, according to UpGuard Cyber Risk. The data breach was first reported by the New York Times.

According to the security researchers, restrictions weren’t placed on the rsync server. This means that any rsync client that connected to the rsync port had access to download this data. UpGuard Cyber Risk published its account of how it discovered the data breach to show how a company within a supply chain can affect large companies with seemingly tight security protocols.

This means if someone knew where to look they could access trade secrets closely protected by automakers. It’s unclear if any nefarious actors actually got their hands on the data. At least one source at an affected automaker told TechCrunch it doesn’t not appear that sensitive or proprietary data was exposed.

UpGuard’s big takeaway in all of this: rsync instances should be restricted by IP address. The researchers also suggest that user access to rsync be set up so that clients have to authenticate before receiving the dataset. Without these measures, rsync is publicly accessible, the researchers said.

The breach exposed 157 gigabytes of data—a treasure trove of 10 years of assembly line schematics, factory floor plans and layouts, robotic configurations and documentation, ID badge request forms, VPN access request forms. The breach even included sensitive non-disclose agreements, including one from Tesla.

Personal details of some Level One employees, including scans of driver’s licenses and passports, and Level One business data, including invoices, contracts, and bank account details.

The security team discovered the breach July 1. The company successfully reached Level One by July 9 and the exposure was closed by the following day.

Tesla says fatal crash involved Autopilot

Tesla has provided another update to last week’s fatal crash. As it turns out, Tesla said the driver had Autopilot on with the adaptive cruise control follow-distance set to minimum. However, it seems the driver ignored the vehicle’s warnings to take back control.

“The driver had received several visual and one audible hands-on warning earlier in the drive and the driver’s hands were not detected on the wheel for six seconds prior to the collision,” Tesla wrote in a blog post. “The driver had about five seconds and 150 meters of unobstructed view of the concrete divider with the crushed crash attenuator, but the vehicle logs show that no action was taken.”

The promise of Tesla’s Autopilot system is to reduce car accidents. In the company’s blog post, Tesla notes Autopilot reduces crash rates by 40 percent, according to an independent review by the U.S. government. Of course, that does not mean the technology is perfect in preventing all accidents.

As Tesla previously noted, the crash was so severe because the middle divider on the highway had been damaged in an earlier accident. Tesla also cautioned that Autopilot does not prevent all accidents, but it does make them less likely to occur.

No one knows about the accidents that didn’t happen, only the ones that did. The consequences of the public not using Autopilot, because of an inaccurate belief that it is less safe, would be extremely severe. There are about 1.25 million automotive deaths worldwide. If the current safety level of a Tesla vehicle were to be applied, it would mean about 900,000 lives saved per year. We expect the safety level of autonomous cars to be 10 times safer than non-autonomous cars.

In the past, when we have brought up statistical safety points, we have been criticized for doing so, implying that we lack empathy for the tragedy that just occurred. Nothing could be further from the truth. We care deeply for and feel indebted to those who chose to put their trust in us. However, we must also care about people now and in the future whose lives may be saved if they know that Autopilot improves safety. None of this changes how devastating an event like this is or how much we feel for our customer’s family and friends. We are incredibly sorry for their loss.

This development, of course, comes in light of a fatal accident involving one of Uber’s self-driving cars in Tempe, Arizona.

What Tesla knows about the fatal Model X crash

Tesla has shed some more light on the fatal crash and fire involving a Model X car last week. In a blog post tonight, Tesla said it’s not yet clear what happened in the time leading up to the accident. Tesla also said it does not yet know what caused it.

Tesla did note that, according to its data, Tesla owners have driven that same stretch of Highway 101 with Autopilot engaged about 85,000 times since Tesla first rolled out the automated control system in 2015. Since the beginning of this year, Tesla drivers have successfully handled that stretch of the highway 20,000 times, according to Tesla.

“The reason this crash was so severe is that the crash attenuator, a highway safety barrier which is designed to reduce the impact into a concrete lane divider, had either been removed or crushed in a prior accident without being replaced,” the company wrote.

Below, you can see what the barrier was supposed to look like versus what it looked like the day before the accident.

Tesla says it obtained the image of the more recent photo from the dash cam of a witness who regularly makes the commute. The company went on to say it has “never seen this level of damage to a Model X in any other crash.”

As previously reported, the accident also caused a fire. In the event there is a fire, Tesla says its battery packs are designed so that people have enough time to get out of the car.

“According to witnesses, that appears to be what happened here as we understand there were no occupants still in the Model X by the time the fire could have presented a risk,” Tesla wrote. “Serious crashes like this can result in fire regardless of the type of car, and Tesla’s billions of miles of actual driving data shows that a gas car in the United States is five times more likely to experience a fire than a Tesla vehicle.”

The promise of Tesla’s Autopilot system is to reduce car accidents. In the company’s blog post, Tesla notes Autopilot reduces crash rates by 40 percent, according to an independent review by the U.S. government. Of course, that does not mean the technology is perfect in preventing all accidents.

Earlier today, the National Transportation Safety Board announced it is conducting an investigation into the accident, which killed the driver and resulted in a fire.

2 NTSB investigators conducting Field Investigation for fatal March 23, 2018, crash of a Tesla near Mountain View, CA. Unclear if automated control system was active at time of crash. Issues examined include: post-crash fire, steps to make vehicle safe for removal from scene.

— NTSB_Newsroom (@NTSB_Newsroom) March 27, 2018

“Out of respect for the privacy of our customer and his family, we do not plan to share any additional details until we conclude the investigation,” Tesla’s blog post stated. “We would like to extend our deepest sympathies to the family and friends of our customer.”

Elon Musk drops epic Falcon Heavy launch trailers made by ‘Westworld’ co-creator

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Attendees of the the Westworld panel at SXSW got a surprise visit from Elon Musk.

The Tesla and SpaceX CEO used the panel to not only inspire a new generation on space exploration, but also drop two epic highlight reels of the Falcon Heavy rocket launch that carried Starman riding in a Tesla Roadster into deep space.

“Life cannot just be about solving one miserable problem after another,” Musk said. “That cannot be the only thing. There need to be things that inspire you, that make you glad to wake up in the morning and be part of humanity.” Read more…

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Elon Musk promises to make a pickup truck ‘right after Model Y’

 On the heels of Elon Musk unveiling the Tesla all-electric semi-truck and a second-generation Roadster in November, Musk took to Twitter today to ask his fans how Tesla can further improve. In response to someone who requested a Tesla pickup truck, Musk said, “I promise that we will make a pickup truck right after Model Y. Have had the core design/engineering elements in my mind for almost… Read More

Crunch Report | Twitter tests a new tweetstorm feature and Tesla unveils a semi truck

 Today’s Stories Apple pushes back on the release of the Homepod Twitter tests a new tweetstorm feature Tesla unveils a new semi truck Walmart will pilot the new Tesla Semis Credits Written by: Sarah Buhr Hosted by: Sarah Buhr Filmed by: Chris Gates Edited by: John Murillo Notes: Tito continues his journey in the Outback this week so you’re with me til Friday. Let’s… Read More

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Tesla fires hundreds of workers companywide amid production struggles

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Tesla just made some drastic changes to its workforce.

The automaker fired between 400 and 700 workers from its south Bay Area headquarters and production plant this week, the San Jose Mercury first reported. The company claims the employees were fired for subpar job performance rather than laid off.

“Like all companies, Tesla conducts an annual performance review during which a manager and employee discuss the results that were achieved, as well as how those results were achieved, during the performance period,” a Tesla spokesperson said in a statement. “Performance reviews also occasionally result in employee departures.” Read more…

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Tesla flips a switch to increase the range of some cars in Florida to help people evacuate

 Tesla has pushed an over-the-air update to some of its vehicles in Florida that lets those cars go just a liiiittle bit farther, thus helping their owners get that much farther away from the devastation of Hurricane Irma. Wondering how that’s even possible? Up until a few months ago, Tesla sold a 60kWh version of its Model S and Model X vehicles — but the battery in those cars… Read More

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Crunch Report | SpaceX Falcon Heavy launch Planned for November

Falcon Heavy launch is set for November, i.am+ acquires Wink and Stitch Fix has confidentially filed for an IPO. All this on Cruch Report. Read More

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Tesla's Model 3 doesn't come with a key

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This might take a little getting used to.

After months and months of anticipation, Elon Musk has finally answered almost all of our questions about the Model 3. But there’s one aspect of the electric car that might take a little more adjustment: there is no key for the Model 3. 

To be clear, this is not the same as the “keyless” systems, which require some kind of key fob, and it’s not the app-enabled remote starting some automakers offer. No, the Model 3 doesn’t require any kind of “key” or physical object other than your smartphone. Read more…

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Elon Musk just gave us our first real look at the Tesla Model 3

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The Tesla Model 3 is finally here. 

After months of hype, a bonkers production plan, and multiple prototypes spotted zooming around California, Tesla CEO Elon Musk revealed the first production Model 3. 

Production unit 1 of Model 3 is now built and going through final checkout. Pics soon.

— Elon Musk (@elonmusk) July 9, 2017

First Production Model 3 pic.twitter.com/TCa2NSUNI3

— Elon Musk (@elonmusk) July 9, 2017

pic.twitter.com/is6Hthjjoj

— Elon Musk (@elonmusk) July 9, 2017

The first Model 3 was slated to be finished to cap off the first week of the month, but the early July start is still about two weeks ahead of Tesla’s adjusted schedule. That’s great news for the hundreds of thousands of Tesla fans who have placed a reservation since March 2016, when pre-order totals reached over 134,000 in just over 24 hours.     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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Apple ARKit user puts a color changing Tesla Model 3 in his driveway before the car's release

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Elon Musk is working hard to make Tesla vehicles everyone can afford, but the only available versions of the tech-centric electric vehicle are still too pricey for some of us — but not in augmented reality! 

That’s what one Norway-based 3D designer decided when he used Apple’s new ARKit to create his own augmented reality version of the upcoming Tesla Model 3. 

Posting a video of the ARKit-created app on Twitter on Saturday, creator Jelmer Verhoog show off how it allows you to choose the color of your Model 3 while seeing how it looks in your own driveway.  Read more…

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Crunch Report | Google To Stop Scanning Inboxes

Crunch Report June 23 Today’s Stories  Google now has all the data it needs, will stop scanning Gmail inboxes for ad personalization Samsung’s Galaxy Note8 will reportedly be the company’s most expensive smartphone yet YouTube TV expands to 10 more U.S. markets, adds more YouTube Red series Tesla said to be in talks to create its own streaming music service Credits Written and Hosted by:… Read More

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Elon Musk draws farting unicorn to showcase Tesla's new Sketch Pad feature

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Of course the new software update for Tesla cars has a hidden feature. Of course, it’s a sketch pad. 

And of course, Tesla CEO Elon Musk announced the feature with a drawing of what appears to be a farting unicorn. 

Musk shared two drawings, the other one being a slightly displeased Mona Lisa, complete with a signature and all. 

Made today on Tesla sketch pad pic.twitter.com/Z8dFP2NN41

— Elon Musk (@elonmusk) March 30, 2017

We’ll leave it to the cruel, cruel world of Twitter to critique these. As for how to get the sketch pad in your Tesla, Musk shared that, too: Tap the T on your Tesla’s center screen three times.  Read more…

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Crunch Report | Tesla’s Long List of Updated Updates

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Equity podcast: The return of IPOs and Tesla’s billion-dollar bet

 One down, many more to go! The first episode of TechCrunch’s latest podcast, Equity, our venture capital-focused podcast is out.
This week, TechCrunch’s Matthew Lynley, CrunchBase editor-in-chief Alex Wilhelm and I sat down with investor and SaaStr founder Jason Lemkin to talk about Tesla’s $1 billion raise, the return of IPOs and recent acquisitions in the technology… Read More

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A very confident Tesla launches the new Powerwall 2 in Australia

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Elon Musk’s home battery is returning to Australia for a second round.

The new Powerwall 2 has about double the capacity of Tesla’s original Powerwall, and will roll out from April. Vice President for energy products at Tesla Lyndon Rive, who incidentally is Musk’s cousin, was in Melbourne Thursday for the launch.

Although the launch of Tesla’s original rechargeable lithium-ion battery in early 2016 earned plenty of attention locally, the Tesla executive wouldn’t divulge what market share Tesla currently had in Australia’s battery market.  Read more…

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Crunch Report | Tesla and Rollercoasters

Waymo is suing Otto and Uber for allegedly stealing its trade secrets, Layer gets more funding and acquires Cola, a major Cloudflare bug leaked sensitive data from customers’ websites and Elon Musk addresses unionization concerns at Tesla. All this on Crunch Report. Read More

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Elon Musk: Tesla Model 3 won't come with a 100 kWh battery

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If you wondered just how big a battery will Tesla pack into its upcoming Model 3 electric car, we’ve got some bad news for you: It won’t have a 100 kWh capacity like some Model S and Model X models.

Elon Musk confirmed that in a reply on Twitter on Tuesday, explaining that the Model 3’s wheelbase just can’t fit such a big battery. 

@jovanik21 @Veidit No, will be lower. Wheelbase can’t fit 100.

— Elon Musk (@elonmusk) February 7, 2017

Musk did not say exactly how big a battery the Model 3 will have. The Model S is available with either a 60, 75, 90 or a 100 kWh battery, so it’s likely the Model 3 with come with one of the lower three options. In the car’s initial announcement in March 2016, Tesla said the car will have a minimum 215-mile range.  Read more…

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Tesla to 'hopefully' launch the Model 3 in India this summer: Elon Musk

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India’s wait to drive — and the world’s wait to see it ride —  Tesla’s autonomous and electric car Model 3 on its poorly maintained, and overly crowded roads will come to an end this year.

Addressing a person’s question, Elon Musk said Tuesday night the company plans to debut its car in India this summer (period between the latter part of June and beginning of September). 

@goel_ishan Hoping for summer this year

— Elon Musk (@elonmusk) February 7, 2017

To much fanfare, Musk announced the Tesla Model 3 — the “affordable”, mass-market, $35,000 electric vehicle — last year.  Read more…

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Elon Musk defends meeting with Trump: 'Does not mean I agree'

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Elon Musk, one of the tech leaders that joined President Donald Trump’s Strategic and Policy Forum in December 2016, will not be leaving just yet, despite not being too happy with some of the Trump administration’s decisions. 

On Friday, Musk posted a public note explaining why he didn’t quit the council. 

“Advisory councils simply provide advice and attending does not mean that I agree with actions by the administration,” he wrote in the note that he shared on Twitter. 

Musk also said he would express his objections to Trump’s recent executive order on immigration — or so-called the “Muslim ban” — at the scheduled council meeting on Friday.  Read more…

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Crunch Report | Galaxy S8 Coming in March

The Trump administration names its manufacturing council, Tesla is suing an ex-employee for reportedly stealing proprietary autopilot information and poaching talent, Samsung Galaxy S8 is reportedly launching in March and Apple is using iCloud to improve Siri. All this on Crunch Report! Read More

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Crunch Report | Zoom CEO Eric Yuan Raised $100 Millon

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