Tesla Inc said on Monday it could seek alternative sources of financing although it expects cash generated from its business to be enough to fund its investments and pay down debt for at least the next 12 months.

Wall Street has been looking for more details after <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/tesla-ceo-elon-musk-strikes-deal-with-market-regulators-over-tweets-213814&amp;sa=U&amp;ved=2ahUKEwiM5ZLewvXhAhU16nMBHTCvCDMQFjABegQIDxAC&amp;usg=AOvVaw0LICCY6XsSjZS26phRsExQ">Chief Executive Officer Elon Musk</a> suggested last week that a capital raise could be imminent as the electric vehicle maker posted a $700 million loss for the first quarter.

"There is some merit to raising capital," Musk said on an earnings conference call on Wednesday, after being asked why he had not done so yet. "It's probably about the right time."

Shares of the company, which were initially up 2 per cent after Musk reached a deal with the US regulators to settle a dispute over his use of Twitter, pared most of their gains to trade up 0.2 per cent at $235.60 before the bell.

Many analysts had predicted the company would need to raise funds for its expansion, including the Shanghai factory, the upcoming Model Y SUV and other projects.

"We continually evaluate our capital expenditure needs and may decide it is best to raise additional capital to fund the rapid growth of our business," the electric car maker said in a regulatory filing&nbsp;

Tesla has $2.2 billion in cash and expects capital expenditures of about $2.5 billion to $3 billion annually for the next two fiscal years. The company's total debt stood at $10.33 billion as of March 31.

However, tapping the debt market for raising capital might become more expensive for the electric car maker.

Tesla's $1.8 billion junk bond sank half a cent to yield 8.42 per cent on Friday, more than 3 percentage points above the bond's coupon rate of 5.3 per cent.

Its spread or the premium investors demand the added risk of holding Tesla debt rather than a safer US Treasury security, widened by about 15 basis points to a near-record 611 basis points.

"We may need or want to raise additional funds in the future, and these funds may not be available to us when we need or want them, or at all," Tesla said in the filing.

Tesla Inc said on Monday it could seek alternative sources of financing although it expects cash generated from its business to be enough to fund its investments and pay down debt for at least the next 12 months.

Tesla Inc said on Monday it could seek alternative sources of financing although it expects cash generated from its business to be enough to fund its investments and pay down debt for at least the next 12 months. Wall Street has been looking for more details after Chief Executive Officer Elon Musk suggested last week that a capital raise could be imminent as the electric vehicle maker posted a $700 million loss for the first quarter. "There is some merit to raising capital," Musk said on an earnings conference call on Wednesday, after being asked why he had not done so yet. "It's probably about the right time." Shares of the company, which were initially up 2 per cent after Musk reached a deal with the US regulators to settle a dispute over his use of Twitter, pared most of their gains to trade up 0.2 per cent at $235.60 before the bell. Many analysts had predicted the company would need to raise funds for its expansion, including the Shanghai factory, the upcoming Model Y SUV and other projects. "We continually evaluate our capital expenditure needs and may decide it is best to raise additional capital to fund the rapid growth of our business," the electric car maker said in a regulatory filing Tesla has $2.2 billion in cash and expects capital expenditures of about $2.5 billion to $3 billion annually for the next two fiscal years. The company's total debt stood at $10.33 billion as of March 31. However, tapping the debt market for raising capital might become more expensive for the electric car maker. Tesla's $1.8 billion junk bond sank half a cent to yield 8.42 per cent on Friday, more than 3 percentage points above the bond's coupon rate of 5.3 per cent. Its spread or the premium investors demand the added risk of holding Tesla debt rather than a safer US Treasury security, widened by about 15 basis points to a near-record 611 basis points. "We may need or want to raise additional funds in the future, and these funds may not be available to us when we need or want them, or at all," Tesla said in the filing.

Tesla says may seek alternative financing sources

Elon Musk and US stock market regulators told a US court on Friday that they have reached a deal to settle their differences over the Tesla chief executive's Twitter use.

The settlement between Musk and the Securities and Exchange Commission sets out clearer guidelines on topics Musk should avoid on Twitter or other social media, including statements about acquisitions, mergers, new products and production numbers.

<a href="https://www.wionews.com/world/tesla-says-robotaxis-with-no-human-drivers-coming-to-us-roads-next-year-212733">Also read:&nbsp;Tesla says robotaxis with no human drivers coming to US roads next year&nbsp;</a>

Musk would have to adhere to Tesla rules regarding potentially significant comments by executives, and have tweets or other social media posts pre-approved by "an experienced securities lawyer employed by the company," according to the proposed settlement.

"The parties have reached an agreement to resolve the commission's pending contempt motion," a joint court filing said.

A Friday deadline set by US District Judge Alison Nathan was extended until April 30 after Musk and the SEC asked for time to have a final version of the settlement ready to submit for court approval.

The SEC said in the filing that the settlement "is fair, reasonable, and in the interest of the parties and investors because the proposed revisions will provide additional clarity regarding the written communications for which the defendant is required to obtain pre-approval."

SEC officials had originally argued Musk should be held in contempt of court for allegedly violating an earlier settlement on tweeting potentially market-sensitive information without having it reviewed by counsel.

At a hearing earlier this month, Nathan ordered both sides to try to work out their differences, suggesting she could rule on the case if the talks failed.

The judge appeared sympathetic at times with some of the government's arguments, but she also expressed significant reservations about finding Musk in contempt, which she said was "serious business" and a ruling that placed a "significant burden" of proof on the government.&nbsp;

Truce?

If approved, the settlement would mark a truce in Musk's dispute with the SEC after an October agreement required him to step down as chairman and pay $20 million to settle charges he defrauded investors with false claims on Twitter in August about a possible bid to take the company private, which was quickly aborted.

The settlement, which allowed Musk to remain as CEO, required him to obtain pre-approval from Tesla counsel before making written communications "that contain, or reasonably could contain, information material to Tesla or its stockholders."

The SEC cracked down after Musk tweeted on February 19 that Tesla would make 500,000 cars in 2019 -- up from the 400,000 that the company had estimated until then, an apparent increase on a benchmark tied to profitability.

Musk corrected himself four hours later, saying that Tesla would indeed produce about 400,000 cars this year.

SEC attorney Cheryl Crumpton argued that the February 19 tweet and the fact that Musk had not submitted any tweets for pre-publishing review showed he had made no serious effort to follow the requirement.

John Hueston, an attorney representing Musk, had countered that Musk's February 19 tweet was not consequential to investors and that the language in the settlement was ambiguous on what types of information needed to be reviewed prior to publication.&nbsp;

He also argued that the SEC had been hasty in seeking a contempt ruling without first trying to confer with Musk.

Sputtering deliveries

Word of a settlement came just days after Tesla disclosed a heavy loss in the first quarter as car deliveries sputtered overseas and a US tax credit that made its prices more attractive was reduced.

The California-based company reported a loss of $702 million in the first three months of this year after two consecutive quarters of profit.

Tesla produced about 63,000 Model 3 vehicles in the period, an increase of three per cent from the same quarter a year earlier but fewer than had been anticipated.&nbsp;

The company attributed its disappointing financial results to Model 3 shipping delays, particularly in Europe and China.

Overall company revenue in the period rose 33 per cent to $4.5 billion in a year-over-year comparison but fell far short of Wall Street forecasts.

Tesla was confident it would get past the financial speed-bumps and into a smoother road to improved fortune.

The company expected to remain on course to deliver between 360,000 and 400,000 vehicles in total this year, topping 2018 numbers by at least 45 per cent.

Tesla shares that finished the official trading day down five per cent regained a little ground to $237.31 in after-market trading.

Elon Musk and US stock market regulators told a US court on Friday that they have reached a deal to settle their differences over the Tesla chief executive's Twitter use.

Elon Musk and US stock market regulators told a US court on Friday that they have reached a deal to settle their differences over the Tesla chief executive's Twitter use. The settlement between Musk and the Securities and Exchange Commission sets out clearer guidelines on topics Musk should avoid on Twitter or other social media, including statements about acquisitions, mergers, new products and production numbers. Also read: Tesla says robotaxis with no human drivers coming to US roads next year Musk would have to adhere to Tesla rules regarding potentially significant comments by executives, and have tweets or other social media posts pre-approved by "an experienced securities lawyer employed by the company," according to the proposed settlement. "The parties have reached an agreement to resolve the commission's pending contempt motion," a joint court filing said. A Friday deadline set by US District Judge Alison Nathan was extended until April 30 after Musk and the SEC asked for time to have a final version of the settlement ready to submit for court approval. The SEC said in the filing that the settlement "is fair, reasonable, and in the interest of the parties and investors because the proposed revisions will provide additional clarity regarding the written communications for which the defendant is required to obtain pre-approval." SEC officials had originally argued Musk should be held in contempt of court for allegedly violating an earlier settlement on tweeting potentially market-sensitive information without having it reviewed by counsel. At a hearing earlier this month, Nathan ordered both sides to try to work out their differences, suggesting she could rule on the case if the talks failed. The judge appeared sympathetic at times with some of the government's arguments, but she also expressed significant reservations about finding Musk in contempt, which she said was "serious business" and a ruling that placed a "significant burden" of proof on the government. Truce? If approved, the settlement would mark a truce in Musk's dispute with the SEC after an October agreement required him to step down as chairman and pay $20 million to settle charges he defrauded investors with false claims on Twitter in August about a possible bid to take the company private, which was quickly aborted. The settlement, which allowed Musk to remain as CEO, required him to obtain pre-approval from Tesla counsel before making written communications "that contain, or reasonably could contain, information material to Tesla or its stockholders." The SEC cracked down after Musk tweeted on February 19 that Tesla would make 500,000 cars in 2019 -- up from the 400,000 that the company had estimated until then, an apparent increase on a benchmark tied to profitability. Musk corrected himself four hours later, saying that Tesla would indeed produce about 400,000 cars this year. SEC attorney Cheryl Crumpton argued that the February 19 tweet and the fact that Musk had not submitted any tweets for pre-publishing review showed he had made no serious effort to follow the requirement. John Hueston, an attorney representing Musk, had countered that Musk's February 19 tweet was not consequential to investors and that the language in the settlement was ambiguous on what types of information needed to be reviewed prior to publication. He also argued that the SEC had been hasty in seeking a contempt ruling without first trying to confer with Musk. Sputtering deliveries Word of a settlement came just days after Tesla disclosed a heavy loss in the first quarter as car deliveries sputtered overseas and a US tax credit that made its prices more attractive was reduced. The California-based company reported a loss of $702 million in the first three months of this year after two consecutive quarters of profit. Tesla produced about 63,000 Model 3 vehicles in the period, an increase of three per cent from the same quarter a year earlier but fewer than had been anticipated. The company attributed its disappointing financial results to Model 3 shipping delays, particularly in Europe and China. Overall company revenue in the period rose 33 per cent to $4.5 billion in a year-over-year comparison but fell far short of Wall Street forecasts. Tesla was confident it would get past the financial speed-bumps and into a smoother road to improved fortune. The company expected to remain on course to deliver between 360,000 and 400,000 vehicles in total this year, topping 2018 numbers by at least 45 per cent. Tesla shares that finished the official trading day down five per cent regained a little ground to $237.31 in after-market trading.

Tesla CEO Elon Musk strikes deal with market regulators over tweets

<a href="https://www.wionews.com/india-news/lok-sabha-polls-2019-phase-3-voting-on-april-23-212719">Lok Sabha polls 2019 live: Voting underway for phase 3; Rahul Gandhi, Amit Shah in fray</a>

PM Modi cast his vote at a polling booth in Nishan Higher Secondary School in Ranip, Ahmedabad. Drawing an analogy between voting and Kumbh, Modi said him exercising his franchise is like taking a holy dip in Kumbh.&nbsp;

<a href="https://www.wionews.com/india-news/terrorists-power-is-ied-peoples-power-is-voter-id-says-pm-modi-after-casting-his-vote-212771">Weapon of terrorism is IED, strength of democracy is voter ID, says PM Modi after casting his vote</a>

Prime Minister Narendra Modi on Tuesday cast his vote in the third phase of Lok Sabha elections and appealed to first-time voters to cast their votes.

Prime Minister Narendra Modi met his mother Heeraben in Ahmedabad before casting his vote. Modi sought his mother's blessings and then reached the polling booth in an open-top jeep.&nbsp;

<a href="https://www.wionews.com/south-asia/sri-lanka-imposes-state-of-emergency-after-attacks-blamed-on-islamists-212724">Sri Lanka imposes state of emergency after attacks blamed on Islamists</a>

Sri Lanka on Tuesday imposed a state of emergency hours after the government blamed a local Islamist group for a series of suicide bomb blasts that killed at least 290 people, including dozens of foreigners.

<a href="https://www.wionews.com/business-economy/amazon-to-close-online-store-in-china-by-july-18-212735">Amazon to shut its online store in China by July 18</a>

Amazon announced last Thursday that it will shut its China online store by July 18 and will no longer operate a marketplace, nor provide seller services on Amazon.cn.

<a href="https://www.wionews.com/world/tesla-says-robotaxis-with-no-human-drivers-coming-to-us-roads-next-year-212733">Tesla says robotaxis with no human drivers coming to US roads next year&nbsp;</a>

Chief Executive Elon Musk said Tesla Inc robotaxis with no human drivers would be available in some US markets next year, continuing a habit of bold pronouncements that have excited many investors while often missing deadlines.

Lok Sabha polls 2019 live: Voting underway for phase 3; Rahul Gandhi, Amit Shah in fray PM Modi cast his vote at a polling booth in Nishan Higher Secondary School in Ranip, Ahmedabad.

Lok Sabha polls 2019 live: Voting underway for phase 3; Rahul Gandhi, Amit Shah in fray PM Modi cast his vote at a polling booth in Nishan Higher Secondary School in Ranip, Ahmedabad. Drawing an analogy between voting and Kumbh, Modi said him exercising his franchise is like taking a holy dip in Kumbh. Weapon of terrorism is IED, strength of democracy is voter ID, says PM Modi after casting his vote Prime Minister Narendra Modi on Tuesday cast his vote in the third phase of Lok Sabha elections and appealed to first-time voters to cast their votes. Prime Minister Narendra Modi met his mother Heeraben in Ahmedabad before casting his vote. Modi sought his mother's blessings and then reached the polling booth in an open-top jeep. Sri Lanka imposes state of emergency after attacks blamed on Islamists Sri Lanka on Tuesday imposed a state of emergency hours after the government blamed a local Islamist group for a series of suicide bomb blasts that killed at least 290 people, including dozens of foreigners. Amazon to shut its online store in China by July 18 Amazon announced last Thursday that it will shut its China online store by July 18 and will no longer operate a marketplace, nor provide seller services on Amazon.cn. Tesla says robotaxis with no human drivers coming to US roads next year Chief Executive Elon Musk said Tesla Inc robotaxis with no human drivers would be available in some US markets next year, continuing a habit of bold pronouncements that have excited many investors while often missing deadlines.

News brief: Big stories of the day

Chief Executive Elon Musk said <a href="https://www.wionews.com/world/tesla-probes-car-fire-in-shanghai-212533">Tesla Inc</a> robotaxis with no human drivers would be available in some US markets next year, continuing a habit of bold pronouncements that have excited many investors while often missing deadlines.

"Probably two years from now we'll make a car with no steering wheels or pedals," Musk predicted, while acknowledging he is often late to meet aggressive targets.

Central to this promise is a new microchip for self-driving vehicles unveiled by Musk on Monday during a webcast presentation. Made by Samsung Electronics Co Ltd in Texas, the chip now in all vehicles is hoped to give Tesla an edge over rivals and show its massive investment in autonomous driving - described by Musk as "basically our entire expense structure" - will pay off.

The webcast presentation came two days before Tesla is expected to announce a quarterly loss on fewer deliveries of its Model 3 sedan, which represents Tesla's attempt to become a volume car maker.

After launching the event with detailed technical descriptions of Tesla's progress on hardware and software by top executives, Musk began hawking the Model 3 and its potential.

"The fundamental message consumers should be taking away today is it's financially insane to buy something other than a Tesla. It's like buying a horse," saying Tesla was the only company to have a full self-driving suite of hardware.

Tesla's use of the term "full self-driving" garners criticism, as it sells such an option today that is not yet "Level 4," or fully autonomous by industry standards, in which the car can handle all aspects of driving in most circumstances with no human intervention. Musk has said that with the hardware complete, improvements in software will allow vehicles to fully drive themselves in future.

The technology faces many regulatory hurdles both in Washington and from local governments.

Global carmakers, large technology companies and startups are developing self-driving - including Alphabet Inc's Waymo and Uber Technologies Inc - but experts say it will be years before the systems are ready for prime time.

"A year from now we'll have over a million cars with full self-driving, software, everything," Musk predicted.

Tesla has been working on a self-driving chip since 2016 and Musk had previously forecast that cars would be fully self-driving by 2018, a target Tesla has missed.

Investors appeared unmoved by the chip announcement but shares rose slightly in after-hour trading following the announcement of the robotaxis.

Wedbush analyst Daniel Ives said Tesla's robotaxi ambition was "impressive," but added that investors will be concerned by "the practicality and financial implications of this endeavour especially with Waymo miles ahead of the autonomous competition."

More pressing for analysts, he said, were concerns about demand for the Model 3 and whether Tesla may seek new financing.

"Doomed'' rivals

Musk took a swipe at competitors relying on Lidar, light-based sensors that are a key element in most other self-driving systems.

"Lidar is a fools' errand. And anyone relying on Lidar is doomed," said Musk, who has been vocal about the technology's limitations. Tesla vehicles rely on cameras and radars as their vision system for self-driving.

Competitors will eventually "dump" Lidar, he said: "It's expensive and unnecessary and once you solved vision it's worthless."

More than $1 billion in corporate and private investment has been plowed into some 50 Lidar startups over the past three years, including a record $420 million in 2018, according to a Reuters analysis of publicly available investment data in March.

Musk called Tesla's new chip the industry's best because it was dedicated for autonomous driving, while others, like Nvidia Corp, developed chips for multiple uses.

Tesla's chip was capable of seven times as many frames as Nvidia's Xavier system, said Pete Bannon, Tesla's head of Autopilot hardware. Nvidia said the comparison was inaccurate.

US magazine Consumer Reports cautioned against Tesla's "bold claims about self-driving capabilities that overpromise and underdeliver."

"Claims about (Tesla's) driving automation systems and safety are not backed up by the data, and it seems today's presentations had more to do with investors than consumers' safety," wrote the publication. 
&nbsp;

Chief Executive Elon Musk said Tesla Inc robotaxis with no human drivers would be available in some US markets next year, continuing a habit of bold pronouncements that have excited many investors while often missing deadlines.

Chief Executive Elon Musk said Tesla Inc robotaxis with no human drivers would be available in some US markets next year, continuing a habit of bold pronouncements that have excited many investors while often missing deadlines. "Probably two years from now we'll make a car with no steering wheels or pedals," Musk predicted, while acknowledging he is often late to meet aggressive targets. Central to this promise is a new microchip for self-driving vehicles unveiled by Musk on Monday during a webcast presentation. Made by Samsung Electronics Co Ltd in Texas, the chip now in all vehicles is hoped to give Tesla an edge over rivals and show its massive investment in autonomous driving - described by Musk as "basically our entire expense structure" - will pay off. The webcast presentation came two days before Tesla is expected to announce a quarterly loss on fewer deliveries of its Model 3 sedan, which represents Tesla's attempt to become a volume car maker. After launching the event with detailed technical descriptions of Tesla's progress on hardware and software by top executives, Musk began hawking the Model 3 and its potential. "The fundamental message consumers should be taking away today is it's financially insane to buy something other than a Tesla. It's like buying a horse," saying Tesla was the only company to have a full self-driving suite of hardware. Tesla's use of the term "full self-driving" garners criticism, as it sells such an option today that is not yet "Level 4," or fully autonomous by industry standards, in which the car can handle all aspects of driving in most circumstances with no human intervention. Musk has said that with the hardware complete, improvements in software will allow vehicles to fully drive themselves in future. The technology faces many regulatory hurdles both in Washington and from local governments. Global carmakers, large technology companies and startups are developing self-driving - including Alphabet Inc's Waymo and Uber Technologies Inc - but experts say it will be years before the systems are ready for prime time. "A year from now we'll have over a million cars with full self-driving, software, everything," Musk predicted. Tesla has been working on a self-driving chip since 2016 and Musk had previously forecast that cars would be fully self-driving by 2018, a target Tesla has missed. Investors appeared unmoved by the chip announcement but shares rose slightly in after-hour trading following the announcement of the robotaxis. Wedbush analyst Daniel Ives said Tesla's robotaxi ambition was "impressive," but added that investors will be concerned by "the practicality and financial implications of this endeavour especially with Waymo miles ahead of the autonomous competition." More pressing for analysts, he said, were concerns about demand for the Model 3 and whether Tesla may seek new financing. "Doomed'' rivals Musk took a swipe at competitors relying on Lidar, light-based sensors that are a key element in most other self-driving systems. "Lidar is a fools' errand. And anyone relying on Lidar is doomed," said Musk, who has been vocal about the technology's limitations. Tesla vehicles rely on cameras and radars as their vision system for self-driving. Competitors will eventually "dump" Lidar, he said: "It's expensive and unnecessary and once you solved vision it's worthless." More than $1 billion in corporate and private investment has been plowed into some 50 Lidar startups over the past three years, including a record $420 million in 2018, according to a Reuters analysis of publicly available investment data in March. Musk called Tesla's new chip the industry's best because it was dedicated for autonomous driving, while others, like Nvidia Corp, developed chips for multiple uses. Tesla's chip was capable of seven times as many frames as Nvidia's Xavier system, said Pete Bannon, Tesla's head of Autopilot hardware. Nvidia said the comparison was inaccurate. US magazine Consumer Reports cautioned against Tesla's "bold claims about self-driving capabilities that overpromise and underdeliver." "Claims about (Tesla's) driving automation systems and safety are not backed up by the data, and it seems today's presentations had more to do with investors than consumers' safety," wrote the publication.

Tesla says robotaxis with no human drivers coming to US roads next year 

<a href="https://www.wionews.com/world/spacex-falcon-heavy-rocket-launches-first-commercial-flight-209697">Elon Musk's SpaceX</a> suffered an anomaly in one of its Crew Dragon capsules while conducting engine tests at the Cape Canaveral Air Force Station in Florida on Saturday, the company said.

"The initial tests completed successfully but the final test resulted in an anomaly on the test stand," the company said in a statement.

The issue was earlier reported by Florida Today, which said orange smoke was seen rising above SpaceX's facilities, and that the anomaly was contained with no injuries.

SpaceX said its teams are investigating and are working closely with US National Aeronautics and Space Administration (NASA) partners.

"NASA has been notified about the results of the SpaceX Static Fire Test and the anomaly that occurred during the final test," its administrator Jim Bridenstine said in a tweet.

"This is why we test. We will learn, make the necessary adjustments and safely move forward with our Commercial Crew Program," he added.

NASA has awarded SpaceX and Boeing Co a total of $6.8 billion to build competing rocket and capsule systems to launch astronauts into orbit from American soil.

In March, the privately owned SpaceX successfully completed its mission of sending an unmanned capsule to the International Space Station and returned safely to Earth, a mission seen as crucial to NASA's plans to resume human space flight from US soil.

SpaceX's first crewed test flight is slated to launch in July with US astronauts Doug Hurley and Bob Behnken.

Elon Musk's SpaceX suffered an anomaly in one of its Crew Dragon capsules while conducting engine tests at the Cape Canaveral Air Force Station in Florida on Saturday, the company said.

Elon Musk's SpaceX suffered an anomaly in one of its Crew Dragon capsules while conducting engine tests at the Cape Canaveral Air Force Station in Florida on Saturday, the company said. "The initial tests completed successfully but the final test resulted in an anomaly on the test stand," the company said in a statement. The issue was earlier reported by Florida Today, which said orange smoke was seen rising above SpaceX's facilities, and that the anomaly was contained with no injuries. SpaceX said its teams are investigating and are working closely with US National Aeronautics and Space Administration (NASA) partners. "NASA has been notified about the results of the SpaceX Static Fire Test and the anomaly that occurred during the final test," its administrator Jim Bridenstine said in a tweet. "This is why we test. We will learn, make the necessary adjustments and safely move forward with our Commercial Crew Program," he added. NASA has awarded SpaceX and Boeing Co a total of $6.8 billion to build competing rocket and capsule systems to launch astronauts into orbit from American soil. In March, the privately owned SpaceX successfully completed its mission of sending an unmanned capsule to the International Space Station and returned safely to Earth, a mission seen as crucial to NASA's plans to resume human space flight from US soil. SpaceX's first crewed test flight is slated to launch in July with US astronauts Doug Hurley and Bob Behnken.

SpaceX suffers capsule anomaly during Florida tests

The most powerful operational rocket in the world, SpaceX's Falcon Heavy, launched its first commercial mission on Thursday (April 11) from Florida in a key demonstration for billionaire entrepreneur Elon Musk's space company in the race to grasp lucrative military launch contracts.

SpaceX's Falcon Heavy conducts first commercial flight

The most powerful operational rocket in the world,<a href="https://www.wionews.com/world/spacex-capsule-back-on-earth-paving-way-for-new-manned-us-flights-202114"> SpaceX’s Falcon Heavy, launched</a> its first commercial mission on Thursday from Florida in a key demonstration for billionaire entrepreneur Elon Musk's space company in the race to grasp lucrative military launch contracts.

The 23-story-tall Heavy, which previously launched <a href="https://www.wionews.com/world/spacex-dragon-capsule-successfully-docks-with-iss-200972">Musk’s cherry red Tesla roadster</a> to space in a 2018 debut test flight, blasted off from Florida’s Kennedy Space Center carrying its first customer payload.

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Successful deployment of Arabsat-6A to geosynchronous transfer orbit confirmed—completing Falcon Heavy’s first commercial mission! <a href="https://t.co/KeKTP99xvv">pic.twitter.com/KeKTP99xvv</a>
— SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1116478585731051520?ref_src=twsrc%5Etfw">April 11, 2019</a></blockquote>
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"T plus 33 seconds into flight, under the power of 5.1 million pounds of thrust, Falcon Heavy is headed to space," SpaceX launch commentator John Insprucker said on a live stream.

Roughly three minutes after clearing the pad, Heavy’s two side boosters separated from the core rocket for a synchronized landing at the Cape Canaveral Air Force Station.&nbsp;

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Thanks on behalf of <a href="https://twitter.com/SpaceX?ref_src=twsrc%5Etfw">@SpaceX</a> team! We ♥️♥️♥️ <a href="https://twitter.com/NASA?ref_src=twsrc%5Etfw">@NASA</a>! <a href="https://t.co/6JTLCp00F3">https://t.co/6JTLCp00F3</a>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1116486389321719808?ref_src=twsrc%5Etfw">April 11, 2019</a></blockquote>
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&nbsp;

The middle booster, after pushing the payload into space, returned nearly 10 minutes later for a successful landing on SpaceX's seafaring drone ship 645 km&nbsp;off the Florida coast. In the 2018 test mission, Heavy's core booster missed the vessel and crashed into the Atlantic Ocean.&nbsp;

Liftoff with Heavy’s new military-certified Falcon 9 boosters was crucial in the race with Boeing-Lockheed venture United Launch Alliance and Jeff Bezos’ Blue Origin as Musk’s SpaceX, working to flight-prove its rocket fleet one mission at a time, aims to clinch a third of all US&nbsp;National Security Space missions - coveted military contracts worth billions.

The US Air Force tapped SpaceX in 2018 to launch for $130 million a classified military satellite and in February added three more missions in a $297 million contract.&nbsp;

Falcon Heavy carried a communications satellite for Saudi-based telecom firm Arabsat, which will beam internet and television services over Africa, Europe and the Middle East.

The most powerful operational rocket in the world, SpaceX’s Falcon Heavy, launched its first commercial mission on Thursday from Florida in a key demonstration for billionaire entrepreneur Elon Musk's space company in the race to grasp lucrative military launch contracts.

The most powerful operational rocket in the world, SpaceX’s Falcon Heavy, launched its first commercial mission on Thursday from Florida in a key demonstration for billionaire entrepreneur Elon Musk's space company in the race to grasp lucrative military launch contracts. The 23-story-tall Heavy, which previously launched Musk’s cherry red Tesla roadster to space in a 2018 debut test flight, blasted off from Florida’s Kennedy Space Center carrying its first customer payload. Successful deployment of Arabsat-6A to geosynchronous transfer orbit confirmed—completing Falcon Heavy’s first commercial mission! pic.twitter.com/KeKTP99xvv — SpaceX (@SpaceX) April 11, 2019 × "T plus 33 seconds into flight, under the power of 5.1 million pounds of thrust, Falcon Heavy is headed to space," SpaceX launch commentator John Insprucker said on a live stream. Roughly three minutes after clearing the pad, Heavy’s two side boosters separated from the core rocket for a synchronized landing at the Cape Canaveral Air Force Station. Thanks on behalf of @SpaceX team! We ♥️♥️♥️ @NASA! https://t.co/6JTLCp00F3 — Elon Musk (@elonmusk) April 11, 2019 × The middle booster, after pushing the payload into space, returned nearly 10 minutes later for a successful landing on SpaceX's seafaring drone ship 645 km off the Florida coast. In the 2018 test mission, Heavy's core booster missed the vessel and crashed into the Atlantic Ocean. Liftoff with Heavy’s new military-certified Falcon 9 boosters was crucial in the race with Boeing-Lockheed venture United Launch Alliance and Jeff Bezos’ Blue Origin as Musk’s SpaceX, working to flight-prove its rocket fleet one mission at a time, aims to clinch a third of all US National Security Space missions - coveted military contracts worth billions. The US Air Force tapped SpaceX in 2018 to launch for $130 million a classified military satellite and in February added three more missions in a $297 million contract. Falcon Heavy carried a communications satellite for Saudi-based telecom firm Arabsat, which will beam internet and television services over Africa, Europe and the Middle East.

SpaceX Falcon Heavy rocket launches first commercial flight

A federal judge on Thursday gave Tesla chief executive Elon Musk and US securities regulators two weeks to resolve their differences over <a href="https://www.wionews.com/world/elon-musk-tweet-may-cost-him-job-as-tesla-ceo-199947">Musk's prolific social media use</a>.

The Securities and Exchange Commission had argued Musk should be held in contempt of court for allegedly violating an earlier settlement on tweeting potentially market-sensitive information without having it reviewed by counsel.

"I am requiring you to meet and confer for at least an hour," US District Judge Alison Nathan said to conclude a 90-minute oral argument.

Nathan said the parties should prepare a joint letter, suggesting she could rule on the case after that time if the talks fail.

The judge appeared sympathetic at times with some of the government's arguments, but she also expressed significant reservations about finding Musk in contempt, which she said was "serious business" and a ruling that placed a "significant burden" of proof on the government.&nbsp;

Musk, who could be seen nodding or shaking his head at times, told reporters just after the argument he was "very happy" with the hearing and "very impressed" with Nathan. &nbsp;

Later, outside the courthouse, Musk told CNBC he would "most likely" be able to resolve his differences with the SEC.

Bigger fines

Thursday's hearing was the latest incident in Musk's running dispute with the SEC after an October agreement required Musk to step down as chairman and pay $20 million to settle charges he defrauded investors with false claims on Twitter in August about a possible go-private transaction that was quickly aborted.

The settlement, which allowed Musk to remain as CEO, required him to obtain pre-approval from Tesla counsel before making written communications "that contain, or reasonably could contain, information material to Tesla or its stockholders."

The SEC cracked down after Musk tweeted on February 19 that Tesla would make 500,000 cars in 2019 -- up from the 400,000 that the company had estimated until then, an apparent increase on a benchmark tied to profitability.

Musk corrected himself four hours later, saying that Tesla would indeed produce about 400,000 cars this year.

SEC attorney Cheryl Crumpton said the errant February 19 tweet and the fact that Musk had not submitted any tweets for pre-publishing review showed he had made no serious effort to follow the requirement, which she called the "heart" of the settlement.

Crumpton said possible remedies could include monthly reports from Tesla and Musk documenting steps to implement the requirement. She said fines could be escalated if there are more problem tweets.

Crumpton cited a comment from Musk on Twitter that the prior $20 million SEC fine had been "worth it," adding that the court should impose a "meaningful fine to make it not 'worth it.'"&nbsp;

John Hueston, an attorney representing Musk, argued that Musk's February 19 tweet was not material, or consequential, to investors, and that the language in the settlement was ambiguous on what types of information needed to be reviewed prior to publication.&nbsp;

He also argued that the SEC had been hasty in seeking a contempt ruling without first trying to confer with Musk.

"If Mr. Musk made some kind of mistake, that is not a reason for contempt," Hueston said.

When the SEC initiated the latest action against Musk, it generated talk that he could be removed as CEO. While some analysts think a contempt ruling could a prelude to that outcome down the road, the SEC has not discussed ousting Musk for flouting the agreement and Crumpton made no mention of such a punishment on Thursday.&nbsp;

The agency's remedies are constrained because of Musk's centrality to Tesla and a reluctance to harm Tesla employees and investors, said Columbia Law School professor Joshua Mitts.&nbsp;

"Normally we say if there are problems with corporate governance, just replace the CEO. That just doesn't work with Elon Musk," Mitts told AFP.&nbsp;

"Any kind of serious sanction on Elon Musk is devastating for Tesla the company and this is the perennial catch 22 that both the SEC and the judge face in this case."

A negative ruling could also increase investor pressure on Musk to appoint a chief operating officer to share responsibility for managing a company that has suffered from near-constant turnover.

Tesla faces heavy pressure to meet its ambitious targets for the Model 3 sedan.&nbsp;

On Thursday, shares of the company finished down 8.2 per cent at $267.78 after it reported lower than expected car deliveries in the first quarter.

A federal judge on Thursday gave Tesla chief executive Elon Musk and US securities regulators two weeks to resolve their differences over Musk's prolific social media use.

A federal judge on Thursday gave Tesla chief executive Elon Musk and US securities regulators two weeks to resolve their differences over Musk's prolific social media use. The Securities and Exchange Commission had argued Musk should be held in contempt of court for allegedly violating an earlier settlement on tweeting potentially market-sensitive information without having it reviewed by counsel. "I am requiring you to meet and confer for at least an hour," US District Judge Alison Nathan said to conclude a 90-minute oral argument. Nathan said the parties should prepare a joint letter, suggesting she could rule on the case after that time if the talks fail. The judge appeared sympathetic at times with some of the government's arguments, but she also expressed significant reservations about finding Musk in contempt, which she said was "serious business" and a ruling that placed a "significant burden" of proof on the government. Musk, who could be seen nodding or shaking his head at times, told reporters just after the argument he was "very happy" with the hearing and "very impressed" with Nathan. Later, outside the courthouse, Musk told CNBC he would "most likely" be able to resolve his differences with the SEC. Bigger fines Thursday's hearing was the latest incident in Musk's running dispute with the SEC after an October agreement required Musk to step down as chairman and pay $20 million to settle charges he defrauded investors with false claims on Twitter in August about a possible go-private transaction that was quickly aborted. The settlement, which allowed Musk to remain as CEO, required him to obtain pre-approval from Tesla counsel before making written communications "that contain, or reasonably could contain, information material to Tesla or its stockholders." The SEC cracked down after Musk tweeted on February 19 that Tesla would make 500,000 cars in 2019 -- up from the 400,000 that the company had estimated until then, an apparent increase on a benchmark tied to profitability. Musk corrected himself four hours later, saying that Tesla would indeed produce about 400,000 cars this year. SEC attorney Cheryl Crumpton said the errant February 19 tweet and the fact that Musk had not submitted any tweets for pre-publishing review showed he had made no serious effort to follow the requirement, which she called the "heart" of the settlement. Crumpton said possible remedies could include monthly reports from Tesla and Musk documenting steps to implement the requirement. She said fines could be escalated if there are more problem tweets. Crumpton cited a comment from Musk on Twitter that the prior $20 million SEC fine had been "worth it," adding that the court should impose a "meaningful fine to make it not 'worth it.'" John Hueston, an attorney representing Musk, argued that Musk's February 19 tweet was not material, or consequential, to investors, and that the language in the settlement was ambiguous on what types of information needed to be reviewed prior to publication. He also argued that the SEC had been hasty in seeking a contempt ruling without first trying to confer with Musk. "If Mr. Musk made some kind of mistake, that is not a reason for contempt," Hueston said. When the SEC initiated the latest action against Musk, it generated talk that he could be removed as CEO. While some analysts think a contempt ruling could a prelude to that outcome down the road, the SEC has not discussed ousting Musk for flouting the agreement and Crumpton made no mention of such a punishment on Thursday. The agency's remedies are constrained because of Musk's centrality to Tesla and a reluctance to harm Tesla employees and investors, said Columbia Law School professor Joshua Mitts. "Normally we say if there are problems with corporate governance, just replace the CEO. That just doesn't work with Elon Musk," Mitts told AFP. "Any kind of serious sanction on Elon Musk is devastating for Tesla the company and this is the perennial catch 22 that both the SEC and the judge face in this case." A negative ruling could also increase investor pressure on Musk to appoint a chief operating officer to share responsibility for managing a company that has suffered from near-constant turnover. Tesla faces heavy pressure to meet its ambitious targets for the Model 3 sedan. On Thursday, shares of the company finished down 8.2 per cent at $267.78 after it reported lower than expected car deliveries in the first quarter.

US judge orders talks between Tesla's Musk, securities regulators

<a href="https://www.wionews.com/world/us-agency-probing-two-fatal-tesla-crashes-in-florida-since-sunday-200840">Tesla chief Elon Musk</a> on Thursday urged workers to make helping with the "biggest wave" of deliveries in the electric car maker's history their top priority, Business Insider reported.

The news website posted a copy of an internal email from Musk rallying Tesla troops to pitch in with "a massive wave of deliveries" throughout Europe, China and North America.

"This is the biggest wave in Tesla's history," the email read. "For the last ten days of the quarter, please consider your primary priority to be helping with vehicle deliveries. This applies to everyone."

The firm is experiencing the kind of tremendous increase in delivery demand seen in North America last year in Europe and China, according to the email, which added the situation was exacerbated by component supplier shortages in Europe.

Musk was reportedly seeking volunteers to drive Tesla cars to destinations such as shipping points, but said he did not expect the delivery crunch to recur in future quarters.

Tesla did not respond to a request for comment.

Meanwhile, a message from Tesla's official Twitter account on Tuesday said that due to trouble processing an unusually high volume of online orders, a planned slight increase in prices of some models was postponed a day.

Tesla currently makes all its cars at a plant in the Northern California city of Fremont and aimed to deliver 400,000 cars this year.

The firm recently introduced a new electric sports utility vehicle slightly bigger and more expensive than its Model 3, pitched as an electric car for the masses.

Tesla last week showed the all-electric Model Y with a starting price of $39,000 for a version with 370-kilometres range.&nbsp;

Deliveries were expected to begin late next year that model, with the standard-range version likely to get to buyers by spring 2021, according to the company.

Musk, 47, is a visionary and inventive boss but also highly unpredictable, especially on social network Twitter, where he has often communicated in defiance of rules imposed on executives of publicly-traded companies.

Tesla chief Elon Musk on Thursday urged workers to make helping with the "biggest wave" of deliveries in the electric car maker's history their top priority, Business Insider reported.

Tesla chief Elon Musk on Thursday urged workers to make helping with the "biggest wave" of deliveries in the electric car maker's history their top priority, Business Insider reported. The news website posted a copy of an internal email from Musk rallying Tesla troops to pitch in with "a massive wave of deliveries" throughout Europe, China and North America. "This is the biggest wave in Tesla's history," the email read. "For the last ten days of the quarter, please consider your primary priority to be helping with vehicle deliveries. This applies to everyone." The firm is experiencing the kind of tremendous increase in delivery demand seen in North America last year in Europe and China, according to the email, which added the situation was exacerbated by component supplier shortages in Europe. Musk was reportedly seeking volunteers to drive Tesla cars to destinations such as shipping points, but said he did not expect the delivery crunch to recur in future quarters. Tesla did not respond to a request for comment. Meanwhile, a message from Tesla's official Twitter account on Tuesday said that due to trouble processing an unusually high volume of online orders, a planned slight increase in prices of some models was postponed a day. Tesla currently makes all its cars at a plant in the Northern California city of Fremont and aimed to deliver 400,000 cars this year. The firm recently introduced a new electric sports utility vehicle slightly bigger and more expensive than its Model 3, pitched as an electric car for the masses. Tesla last week showed the all-electric Model Y with a starting price of $39,000 for a version with 370-kilometres range. Deliveries were expected to begin late next year that model, with the standard-range version likely to get to buyers by spring 2021, according to the company. Musk, 47, is a visionary and inventive boss but also highly unpredictable, especially on social network Twitter, where he has often communicated in defiance of rules imposed on executives of publicly-traded companies.

Tesla chief Elon Musk calls on workers to help deliver cars

SpaceX's Crew Dragon capsule splashed down in the Atlantic Ocean on Friday, completing a <a href="http://www.wionews.com/world/nasa-captures-unprecedented-images-of-supersonic-shockwaves-201954">NASA demonstration mission</a> that paves the way for the resumption of manned space flights from the US.

After hours of suspense, the Dragon spacecraft touched down at 8:45 am (1345 GMT) some 230 miles (370 kilometres) off the coast of the US state of Florida.

The seven-seat capsule brought its "crew" of one test dummy back to Earth in the same way that American astronauts returned to the planet in the Apollo era in the 1960s and 1970s, before the 1981-2011 Space Shuttle Program.

NASA TV footage showed the capsule drifting down into the ocean, its descent slowed by its four main orange and white parachutes, which gently folded into the water around it as boats sped toward the site.

Pending the analysis of flight data, everything indicated that SpaceX -- founded in 2002 by Elon Musk -- had passed its test from beginning to end, a result that drew widespread praise.

NASA Administrator Jim Bridenstine hailed the splashdown, saying it "marked another milestone in a new era of human spaceflight."

The head of the Russian space agency Roskosmos sent his congratulations via Twitter to his "dear colleagues Jim Bridenstine and Elon Musk!"

And former president Barack Obama noted that it was his government that launched the commercialization of astronaut space transport. "We invested in the @Commercial_Crew program to strengthen the U.S. space program for the long haul, and it's great to see that happening," he tweeted.

Launched on March 2 from the Kennedy Space Center in Florida, Dragon docked at ISS the following day before successfully undocking Friday some 250 miles over Sudan.

The re-entry into Earth's atmosphere tested the vehicle's heat shield for the first time, and Musk had previously said that the phase was "probably my biggest concern."

Even though the capsule came back to Earth looking like a "toasted marshmallow" -- in the words of SpaceX engineer Kate Tice -- the heat shield held.

Preparation for crewed mission

While Dragon's crew member was a dummy named Ripley this time, the mission sets the stage for a manned flight, which will see two US astronauts book a return trip to the ISS.

In June, the capsule's in-flight abort system will be put to the test: the rocket will take off without human passengers, after which the capsule will eject using its own engines and return safely in a simulation of an incident.

"I don't think we saw really anything in the mission, so far -- and we've got to do the data reviews -- that would preclude us having the crewed mission later this year," Steve Stich, deputy program manager at NASA, said on Friday.

Separately, Boeing is scheduled to carry out an unmanned demo mission in April of its Starliner capsule.

Both systems must give NASA two independent means -- and at a lower cost than that of the Space Shuttle Program -- to access the ISS by 2020.

The SpaceX mission represents the first private venture to the ISS, as well as the first time a space vessel capable of carrying people was launched by the US in eight years.

Dragon also marks a return to a "vintage" format: it is the first US capsule since the pioneering Apollo program.&nbsp;

Capsules have no wings and fall to Earth, their descent slowed only by parachutes -- much like the Russian Soyuz craft, which lands in the steppes of Kazakhstan.

The last generation of US spacecraft, the space shuttles, landed like aeroplanes. Shuttles took American astronauts to space from 1981 to 2011, but their cost proved prohibitive, while two of the original four craft had catastrophic accidents, killing 14 crew members. Until SpaceX and Boeing are certified by NASA, Russia will continue to be the only country taking humans to the ISS. NASA buys seats for its astronauts, who train with their Russian cosmonaut counterparts.

SpaceX's Crew Dragon capsule splashed down in the Atlantic Ocean on Friday, completing a NASA demonstration mission that paves the way for the resumption of manned space flights from the US.

SpaceX's Crew Dragon capsule splashed down in the Atlantic Ocean on Friday, completing a NASA demonstration mission that paves the way for the resumption of manned space flights from the US. After hours of suspense, the Dragon spacecraft touched down at 8:45 am (1345 GMT) some 230 miles (370 kilometres) off the coast of the US state of Florida. The seven-seat capsule brought its "crew" of one test dummy back to Earth in the same way that American astronauts returned to the planet in the Apollo era in the 1960s and 1970s, before the 1981-2011 Space Shuttle Program. NASA TV footage showed the capsule drifting down into the ocean, its descent slowed by its four main orange and white parachutes, which gently folded into the water around it as boats sped toward the site. Pending the analysis of flight data, everything indicated that SpaceX -- founded in 2002 by Elon Musk -- had passed its test from beginning to end, a result that drew widespread praise. NASA Administrator Jim Bridenstine hailed the splashdown, saying it "marked another milestone in a new era of human spaceflight." The head of the Russian space agency Roskosmos sent his congratulations via Twitter to his "dear colleagues Jim Bridenstine and Elon Musk!" And former president Barack Obama noted that it was his government that launched the commercialization of astronaut space transport. "We invested in the @Commercial_Crew program to strengthen the U.S. space program for the long haul, and it's great to see that happening," he tweeted. Launched on March 2 from the Kennedy Space Center in Florida, Dragon docked at ISS the following day before successfully undocking Friday some 250 miles over Sudan. The re-entry into Earth's atmosphere tested the vehicle's heat shield for the first time, and Musk had previously said that the phase was "probably my biggest concern." Even though the capsule came back to Earth looking like a "toasted marshmallow" -- in the words of SpaceX engineer Kate Tice -- the heat shield held. Preparation for crewed mission While Dragon's crew member was a dummy named Ripley this time, the mission sets the stage for a manned flight, which will see two US astronauts book a return trip to the ISS. In June, the capsule's in-flight abort system will be put to the test: the rocket will take off without human passengers, after which the capsule will eject using its own engines and return safely in a simulation of an incident. "I don't think we saw really anything in the mission, so far -- and we've got to do the data reviews -- that would preclude us having the crewed mission later this year," Steve Stich, deputy program manager at NASA, said on Friday. Separately, Boeing is scheduled to carry out an unmanned demo mission in April of its Starliner capsule. Both systems must give NASA two independent means -- and at a lower cost than that of the Space Shuttle Program -- to access the ISS by 2020. The SpaceX mission represents the first private venture to the ISS, as well as the first time a space vessel capable of carrying people was launched by the US in eight years. Dragon also marks a return to a "vintage" format: it is the first US capsule since the pioneering Apollo program. Capsules have no wings and fall to Earth, their descent slowed only by parachutes -- much like the Russian Soyuz craft, which lands in the steppes of Kazakhstan. The last generation of US spacecraft, the space shuttles, landed like aeroplanes. Shuttles took American astronauts to space from 1981 to 2011, but their cost proved prohibitive, while two of the original four craft had catastrophic accidents, killing 14 crew members. Until SpaceX and Boeing are certified by NASA, Russia will continue to be the only country taking humans to the ISS. NASA buys seats for its astronauts, who train with their Russian cosmonaut counterparts.

SpaceX capsule back on Earth, paving way for new manned US flights

SpaceX docks first commercial spaceship for astronauts to the International Space Station

US authorities are investigating a fatal Tesla Inc Model S crash in Florida last Sunday that killed the driver and caused a massive fire, the second fatal Tesla crash&nbsp;in the state this week being probed, the National Highway Traffic Safety Administration (NHTSA) said on Saturday.

The agency and the National Transportation Safety Board said late on Friday they were sending teams to investigate the other fatal crash Friday in Delray Beach, Florida of a 2018 Model 3 that crashed into a semi-trailer.

An NHTSA spokesman confirmed Saturday the agency has an "ongoing investigation" into the Sunday Tesla crash in Davie, Florida, and "will take additional actions if appropriate."

Tesla did not immediately comment Saturday.

The South Florida Sun-Sentinel reported Monday the 2016 Tesla Model S caught fire and burned the 48-year-old driver beyond recognition. The newspaper said the Tesla battery repeatedly caught fire after being transported to a towing facility.

NHTSA, the auto safety regulator, can demand a recall if it believes a defect poses an unreasonable safety risk, while the NTSB makes safety recommendations.

NHTSA and NTSB are investigating a number of crashes since 2017 that focus on two primary issues: the role of Tesla's driver assistance technology Autopilot in accidents and some significant battery fires in the electric vehicles after crashes, including cases of batteries reigniting.

A report on Friday's crash released by the Palm Beach County Sheriff's Department did not indicate if Autopilot was engaged in the crash that killed the 50-year-old Tesla Model 3 owner.

The report said the Tesla struck a tractor-trailer and the roof was sheared off as it passed underneath the trailer and stopped three-tenths of a mile south of the collision. The driver was pronounced dead at the scene.

NTSB is sending a team of three to conduct a safety investigation, while NHTSA is sending a field team.

Some Tesla drivers say they are able to avoid putting their hands on the wheel for extended periods when using Autopilot, while Tesla advises drivers that they must keep their hands on the steering wheel and pay attention while using Autopilot.

NHTSA is also probing the January 2018 crash of a Tesla vehicle apparently travelling in Autopilot that struck a fire truck in Culver City, California, a May 2018 crash in Utah of a Tesla in Autopilot mode and a May 2018 Tesla accident in Florida that killed two teenagers and injured another but was not in Autopilot.

The NTSB is investigating three earlier Tesla incidents being reviewed by NHTSA, as well as an August 2017 Tesla battery fire in California, in which an owner ran into his garage.

Friday's crash is similar to the first fatal Tesla crash linked to Autopilot.

In May 2016, a Tesla Model S driver was killed near Williston, Florida, using Autopilot when he slammed into a tractor-trailer that also sheared off the vehicle roof.

The NTSB said in 2017 Tesla lacked proper safeguards allowing the driver “to use the system outside of the environment for which it was designed and the system gave far too much leeway to the driver to divert his attention."

In January 2017, NHTSA said its review found no evidence of defects in the 2016 fatal Autopilot crash that would require a recall.

Tesla says its Autopilot software reduces a driver's "overall workload" and will "steer, accelerate and brake for you within almost any lane. It will also automatically change lanes on most highways to overtake other cars or navigate to interchanges and exits."

Tesla says the feature "should not be used on highways that have very sharp turns or lane markings that are absent, faded, or ambiguous."

US authorities are investigating a fatal Tesla Inc Model S crash in Florida last Sunday that killed the driver and caused a massive fire, the second fatal Tesla crash in the state this week being probed, the National Highway Traffic Safety Administration (NHTSA) said on Saturday.

US authorities are investigating a fatal Tesla Inc Model S crash in Florida last Sunday that killed the driver and caused a massive fire, the second fatal Tesla crash in the state this week being probed, the National Highway Traffic Safety Administration (NHTSA) said on Saturday. The agency and the National Transportation Safety Board said late on Friday they were sending teams to investigate the other fatal crash Friday in Delray Beach, Florida of a 2018 Model 3 that crashed into a semi-trailer. An NHTSA spokesman confirmed Saturday the agency has an "ongoing investigation" into the Sunday Tesla crash in Davie, Florida, and "will take additional actions if appropriate." Tesla did not immediately comment Saturday. The South Florida Sun-Sentinel reported Monday the 2016 Tesla Model S caught fire and burned the 48-year-old driver beyond recognition. The newspaper said the Tesla battery repeatedly caught fire after being transported to a towing facility. NHTSA, the auto safety regulator, can demand a recall if it believes a defect poses an unreasonable safety risk, while the NTSB makes safety recommendations. NHTSA and NTSB are investigating a number of crashes since 2017 that focus on two primary issues: the role of Tesla's driver assistance technology Autopilot in accidents and some significant battery fires in the electric vehicles after crashes, including cases of batteries reigniting. A report on Friday's crash released by the Palm Beach County Sheriff's Department did not indicate if Autopilot was engaged in the crash that killed the 50-year-old Tesla Model 3 owner. The report said the Tesla struck a tractor-trailer and the roof was sheared off as it passed underneath the trailer and stopped three-tenths of a mile south of the collision. The driver was pronounced dead at the scene. NTSB is sending a team of three to conduct a safety investigation, while NHTSA is sending a field team. Some Tesla drivers say they are able to avoid putting their hands on the wheel for extended periods when using Autopilot, while Tesla advises drivers that they must keep their hands on the steering wheel and pay attention while using Autopilot. NHTSA is also probing the January 2018 crash of a Tesla vehicle apparently travelling in Autopilot that struck a fire truck in Culver City, California, a May 2018 crash in Utah of a Tesla in Autopilot mode and a May 2018 Tesla accident in Florida that killed two teenagers and injured another but was not in Autopilot. The NTSB is investigating three earlier Tesla incidents being reviewed by NHTSA, as well as an August 2017 Tesla battery fire in California, in which an owner ran into his garage. Friday's crash is similar to the first fatal Tesla crash linked to Autopilot. In May 2016, a Tesla Model S driver was killed near Williston, Florida, using Autopilot when he slammed into a tractor-trailer that also sheared off the vehicle roof. The NTSB said in 2017 Tesla lacked proper safeguards allowing the driver “to use the system outside of the environment for which it was designed and the system gave far too much leeway to the driver to divert his attention." In January 2017, NHTSA said its review found no evidence of defects in the 2016 fatal Autopilot crash that would require a recall. Tesla says its Autopilot software reduces a driver's "overall workload" and will "steer, accelerate and brake for you within almost any lane. It will also automatically change lanes on most highways to overtake other cars or navigate to interchanges and exits." Tesla says the feature "should not be used on highways that have very sharp turns or lane markings that are absent, faded, or ambiguous."

US agency probing two fatal Tesla crashes in Florida since Sunday

NASA and SpaceX counted down the hours Friday to the launch of a new astronaut capsule on a week-long trip to the International Space Station and back -- a key step towards resuming manned space flights from US soil after an eight-year break.

This time around, the only occupant on board SpaceX's Crew Dragon capsule will be a dummy named Ripley.

But if the test goes smoothly, NASA plans to put two astronauts aboard by the end of the year.&nbsp;

The new capsule will blast off aboard a rocket built by SpaceX -- run by billionaire Elon Musk -- at 2:49 am Saturday (0749 GMT) from the Kennedy Space Center at Cape Canaveral, Florida.

It is scheduled to reach the ISS by Sunday, with a return to Earth next Friday.

"This is a critically important event in American history," the head of the US space agency, Jim Bridenstine, told reporters, with the rocket and capsule visible behind him on the legendary launch pad where the Apollo missions to the Moon began. &nbsp;

"We're on the precipice of launching American astronauts on American rockets from American soil again for the first time since the retirement of the space shuttles in 2011."

The excitement was palpable at Cape Canaveral, from the space-fan volunteers guiding media on site, to the tourists who came to watch the launch light up the overcast skies.

"It's been a long eight years," the Kennedy Space Center's director Bob Cabana, a former astronaut himself, said as SpaceX employees milled around the rocket.

After the shuttle program was shuttered in July 2011 after a 30-year run, NASA began outsourcing the logistics of its space missions.

It pays Russia to get its people up to the ISS orbiting research facility at a cost of $82 million ahead, for a round trip.

In 2014, the US space agency awarded contracts to SpaceX and Boeing for them to take over this task.

But the program has suffered delays as safety requirements are much more stringent for manned flights than for unmanned missions to deploy satellites.

"We're going to have more access to space at a better cost than at any point in human history," said Bridenstine, adding he was "100 per cent confident" that a manned flight would happen by year's end.

Boeing next&nbsp;

Boeing also received a contract in 2014 to develop a space vessel, the Starliner. It will not be tested until April, in a mission similar to SpaceX's.

NASA did not want to rely on just one single vehicle, in case of accidents.

"We're going to be a customer," Bridenstine told reporters.

Planning has been delayed by around three years, with the first manned SpaceX flight still pencilled in for July, though officials frequently refer to the end of 2019 as a more realistic deadline.

"We're going to take it day by day," Bridenstine said of the timeline.&nbsp;

"Right now, the date is July and that's what we're planning for, but if we change that date we'll make sure people know when it's the right time."

Doug Hurley, one of the two astronauts chosen for the future first manned flight, said: "We will be ready when SpaceX and NASA are ready for us to fly."

'Going to learn a ton'

Saturday's flight aims to test the vessel's reliability and safety in real-life conditions.

The dummy that will ride in the capsule -- which SpaceX's Hans Koenigsmann prefers to call a "smartie" -- has been nicknamed Ripley in honour of the character played by Sigourney Weaver in the "Alien" movies.

It will be fitted with monitors to test the forces that future astronauts will be subjected to on takeoff and when they return to the Earth's atmosphere and then splash down in the Atlantic, slowed down by giant parachutes.

"We're going to learn a ton from this mission," said Kathy Lueders, the manager of NASA's Commercial Crew program.

For SpaceX, which Musk founded in 2002, sending an astronaut into orbit would be a culmination of years of hard work and high-risk investment.

"Every mission is important, but this is even more important, said Koenigsmann, the firm's vice-president for build and flight reliability.

"Early on, our goal was human spaceflight," he said. "Human spaceflight is a core value of the business of SpaceX."

In less than a decade, SpaceX has become a key partner for NASA, in addition to dominating the market for private satellite launches.

Its Falcon 9 rockets have resupplied the space station 15 times in seven years, even though one of them blew up in 2015.

NASA and SpaceX counted down the hours Friday to the launch of a new astronaut capsule on a week-long trip to the International Space Station and back -- a key step towards resuming manned space flights from US soil after an eight-year break.

NASA and SpaceX counted down the hours Friday to the launch of a new astronaut capsule on a week-long trip to the International Space Station and back -- a key step towards resuming manned space flights from US soil after an eight-year break. This time around, the only occupant on board SpaceX's Crew Dragon capsule will be a dummy named Ripley. But if the test goes smoothly, NASA plans to put two astronauts aboard by the end of the year. The new capsule will blast off aboard a rocket built by SpaceX -- run by billionaire Elon Musk -- at 2:49 am Saturday (0749 GMT) from the Kennedy Space Center at Cape Canaveral, Florida. It is scheduled to reach the ISS by Sunday, with a return to Earth next Friday. "This is a critically important event in American history," the head of the US space agency, Jim Bridenstine, told reporters, with the rocket and capsule visible behind him on the legendary launch pad where the Apollo missions to the Moon began. "We're on the precipice of launching American astronauts on American rockets from American soil again for the first time since the retirement of the space shuttles in 2011." The excitement was palpable at Cape Canaveral, from the space-fan volunteers guiding media on site, to the tourists who came to watch the launch light up the overcast skies. "It's been a long eight years," the Kennedy Space Center's director Bob Cabana, a former astronaut himself, said as SpaceX employees milled around the rocket. After the shuttle program was shuttered in July 2011 after a 30-year run, NASA began outsourcing the logistics of its space missions. It pays Russia to get its people up to the ISS orbiting research facility at a cost of $82 million ahead, for a round trip. In 2014, the US space agency awarded contracts to SpaceX and Boeing for them to take over this task. But the program has suffered delays as safety requirements are much more stringent for manned flights than for unmanned missions to deploy satellites. "We're going to have more access to space at a better cost than at any point in human history," said Bridenstine, adding he was "100 per cent confident" that a manned flight would happen by year's end. Boeing next Boeing also received a contract in 2014 to develop a space vessel, the Starliner. It will not be tested until April, in a mission similar to SpaceX's. NASA did not want to rely on just one single vehicle, in case of accidents. "We're going to be a customer," Bridenstine told reporters. Planning has been delayed by around three years, with the first manned SpaceX flight still pencilled in for July, though officials frequently refer to the end of 2019 as a more realistic deadline. "We're going to take it day by day," Bridenstine said of the timeline. "Right now, the date is July and that's what we're planning for, but if we change that date we'll make sure people know when it's the right time." Doug Hurley, one of the two astronauts chosen for the future first manned flight, said: "We will be ready when SpaceX and NASA are ready for us to fly." 'Going to learn a ton' Saturday's flight aims to test the vessel's reliability and safety in real-life conditions. The dummy that will ride in the capsule -- which SpaceX's Hans Koenigsmann prefers to call a "smartie" -- has been nicknamed Ripley in honour of the character played by Sigourney Weaver in the "Alien" movies. It will be fitted with monitors to test the forces that future astronauts will be subjected to on takeoff and when they return to the Earth's atmosphere and then splash down in the Atlantic, slowed down by giant parachutes. "We're going to learn a ton from this mission," said Kathy Lueders, the manager of NASA's Commercial Crew program. For SpaceX, which Musk founded in 2002, sending an astronaut into orbit would be a culmination of years of hard work and high-risk investment. "Every mission is important, but this is even more important, said Koenigsmann, the firm's vice-president for build and flight reliability. "Early on, our goal was human spaceflight," he said. "Human spaceflight is a core value of the business of SpaceX." In less than a decade, SpaceX has become a key partner for NASA, in addition to dominating the market for private satellite launches. Its Falcon 9 rockets have resupplied the space station 15 times in seven years, even though one of them blew up in 2015.

Countdown as SpaceX, NASA prepare to test new astronaut capsule

Tesla Inc. said it would begin shutting stores and move to selling vehicles only over the internet, an extraordinary step aimed at cutting costs so the company can sell its Model 3 compact at a long-delayed starting price of $35,000, Dow Jones Newswires reported in an article made available to EFE on Friday.

Lowering the price to $35,000 - a key part of the Silicon Valley company's effort to become a mainstream automaker - is a goal Tesla has discussed for years and repeatedly delayed, but the shift in its sales strategy was a surprise.

The move to online-only sales is likely to further rile car dealers around the US that have spent about a decade fighting Tesla's effort to sell directly to customers through company-owned stores. For more than 100 years, automakers have relied on a network of third-party franchised dealers to sell their vehicles across the US.

Those dealers have amassed, in some cases, immense political capital with local lawmakers, and Tesla has spent years battling in statehouses across the US&nbsp;for the ability to sell directly to consumers.

Chief Executive <a href="http://www.wionews.com/world/meet-elon-tusk-tesla-chief-changes-twitter-display-name-200158">Elon Musk</a> highlighted the significance of what Tesla is attempting to do.

Also read: <a href="http://www.wionews.com/world/elon-musk-tweet-may-cost-him-job-as-tesla-ceo-199947">Elon Musk tweet may cost him </a><a href="http://www.wionews.com/world/elon-musk-tweet-may-cost-him-job-as-tesla-ceo-199947">job</a><a href="http://www.wionews.com/world/elon-musk-tweet-may-cost-him-job-as-tesla-ceo-199947"> as Tesla CEO</a>

"Ultimately this will be a very strong competitive strength for Tesla," he said on a conference call on Thursday. "This will be a fundamental long-term competitive advantage of Tesla that...only a startup could replicate."

Some Tesla stores will be closed, resulting in staff cuts, he said, without detailing how many. Tesla had 378 stores and services centres globally at the end of last year.

Other stores will remain for shoppers to learn about its vehicles, but would-be buyers would be sent online to make the purchase. In North America, customers can buy a vehicle via their phone in about one minute, Tesla said.

Tesla has been pushing to cut the cost of the Model 3, trying to get the starting price for the compact car down from the level of $49,000 when it debuted in 2017. Thursday's announcement marks the third price cut for the car since the start of this year. The most recent had brought it to $42,900.

Tesla said its sales change is essential to meet its price goal. "To achieve these prices while remaining financially sustainable, Tesla is shifting sales worldwide to online only," it said in a blog post.

Cutting prices has put further strain on Tesla's finances, however.

The company reported consecutive quarterly profits for the first time ever in the last two periods of 2018, and Mr Musk in January expressed confidence that Tesla could consistently make money as it continues to sell more Model 3s.

But in Thursday's conference call, Mr Musk said Tesla doesn't expect to be profitable in the current quarter, though it hopes to resume profitability over the following three months.

Tesla shares fell 3.4% in after-hours trading following its announcement.

Mr Musk said that shifting sales online could cut costs by 5% to 6% and that Tesla would use those savings to reduce prices of its two other automobiles, the Model S sedan and Model X sport-utility vehicle.

Going to online-only sales reduces Tesla's ability to provide a personal experience for buyers considering one of the biggest purchases most people make. The move comes as Tesla already is struggling to service its existing customers and expand its customer base. Mr Musk said Tesla is increasing the number of people working on servicing cars as part of efforts to improve customer experience.

Tesla's distribution system already is unorthodox. It upended the automotive industry in the US by forgoing the traditional franchise dealership sale model, instead of selling directly to customers through its website and company stores.

State franchise laws require automakers to sell their vehicles through their existing dealership network, making it difficult for them to sell online - and impeding the growth of new internet sellers. Much of the growth in delivering vehicles directly to consumers has come from startups like Carvana Co. and Shift Technologies Inc. selling used vehicles, which don't have to be sold through franchised car dealers.

Several traditional car dealership chains have taken steps in recent years to pare back property holdings as car buyers increasingly use smartphones and internet tools to shop for cars instead of visiting the dealership lot.

"Closing its stores potentially save Tesla a lot of money on real estate," said Sam Abuelsamid, a senior analyst with Navigant research, especially because the stores were often inexpensive, high-traffic areas.

The switch to online-only sales could also be a benefit for Tesla customers because some consumers had to drive several hours to pick up a car at the nearest store, Mr Abuelsamid said.

However, Mr Abuelsamid expressed doubts about a new return policy Tesla announced, in which buyers can now return a car within seven days or 1,000 miles for a full refund.

"While in theory, the seven-day return policy is a great thing if you can't test drive, you have to pay for the car in full," said Mr Abuelsamid. "With a traditional dealer, you can do it for free."

The decision underscores the challenge Tesla has in bringing a mainstream electric car to market. Car companies and customers have shied away from electric cars in the past in part because of the added cost that batteries bring to the vehicle.

The arrival of the Roadster sports car in 2008 and Model S large sedan in 2012 helped change minds about electric vehicles. The sedan, typically selling for about $100,000, helped establish Tesla a global luxury brand. But Mr Musk's goal for Tesla has long been to produce a mainstream electric vehicle for the masses.

When Tesla unveiled the Model 3 in 2016, it stunned the automotive industry as customers lined up around street corners at stores to plop down $1,000 deposits for the car. While Mr Musk stoked enthusiasm, he has struggled to increase production of the vehicle after starting assembly in July 2017.

Tesla said the $35,000 version of the Model 3 has a 220-mile range and can go from zero to 60 in 5.6 seconds.

Tesla Inc. said it would begin shutting stores and move to selling vehicles only over the internet, an extraordinary step aimed at cutting costs so the company can sell its Model 3 compact at a long-delayed starting price of $35,000, Dow Jones Newswires reported in an article made available to EFE on Friday.

Tesla Inc. said it would begin shutting stores and move to selling vehicles only over the internet, an extraordinary step aimed at cutting costs so the company can sell its Model 3 compact at a long-delayed starting price of $35,000, Dow Jones Newswires reported in an article made available to EFE on Friday. Lowering the price to $35,000 - a key part of the Silicon Valley company's effort to become a mainstream automaker - is a goal Tesla has discussed for years and repeatedly delayed, but the shift in its sales strategy was a surprise. The move to online-only sales is likely to further rile car dealers around the US that have spent about a decade fighting Tesla's effort to sell directly to customers through company-owned stores. For more than 100 years, automakers have relied on a network of third-party franchised dealers to sell their vehicles across the US. Those dealers have amassed, in some cases, immense political capital with local lawmakers, and Tesla has spent years battling in statehouses across the US for the ability to sell directly to consumers. Chief Executive Elon Musk highlighted the significance of what Tesla is attempting to do. Also read: Elon Musk tweet may cost him job as Tesla CEO "Ultimately this will be a very strong competitive strength for Tesla," he said on a conference call on Thursday. "This will be a fundamental long-term competitive advantage of Tesla that...only a startup could replicate." Some Tesla stores will be closed, resulting in staff cuts, he said, without detailing how many. Tesla had 378 stores and services centres globally at the end of last year. Other stores will remain for shoppers to learn about its vehicles, but would-be buyers would be sent online to make the purchase. In North America, customers can buy a vehicle via their phone in about one minute, Tesla said. Tesla has been pushing to cut the cost of the Model 3, trying to get the starting price for the compact car down from the level of $49,000 when it debuted in 2017. Thursday's announcement marks the third price cut for the car since the start of this year. The most recent had brought it to $42,900. Tesla said its sales change is essential to meet its price goal. "To achieve these prices while remaining financially sustainable, Tesla is shifting sales worldwide to online only," it said in a blog post. Cutting prices has put further strain on Tesla's finances, however. The company reported consecutive quarterly profits for the first time ever in the last two periods of 2018, and Mr Musk in January expressed confidence that Tesla could consistently make money as it continues to sell more Model 3s. But in Thursday's conference call, Mr Musk said Tesla doesn't expect to be profitable in the current quarter, though it hopes to resume profitability over the following three months. Tesla shares fell 3.4% in after-hours trading following its announcement. Mr Musk said that shifting sales online could cut costs by 5% to 6% and that Tesla would use those savings to reduce prices of its two other automobiles, the Model S sedan and Model X sport-utility vehicle. Going to online-only sales reduces Tesla's ability to provide a personal experience for buyers considering one of the biggest purchases most people make. The move comes as Tesla already is struggling to service its existing customers and expand its customer base. Mr Musk said Tesla is increasing the number of people working on servicing cars as part of efforts to improve customer experience. Tesla's distribution system already is unorthodox. It upended the automotive industry in the US by forgoing the traditional franchise dealership sale model, instead of selling directly to customers through its website and company stores. State franchise laws require automakers to sell their vehicles through their existing dealership network, making it difficult for them to sell online - and impeding the growth of new internet sellers. Much of the growth in delivering vehicles directly to consumers has come from startups like Carvana Co. and Shift Technologies Inc. selling used vehicles, which don't have to be sold through franchised car dealers. Several traditional car dealership chains have taken steps in recent years to pare back property holdings as car buyers increasingly use smartphones and internet tools to shop for cars instead of visiting the dealership lot. "Closing its stores potentially save Tesla a lot of money on real estate," said Sam Abuelsamid, a senior analyst with Navigant research, especially because the stores were often inexpensive, high-traffic areas. The switch to online-only sales could also be a benefit for Tesla customers because some consumers had to drive several hours to pick up a car at the nearest store, Mr Abuelsamid said. However, Mr Abuelsamid expressed doubts about a new return policy Tesla announced, in which buyers can now return a car within seven days or 1,000 miles for a full refund. "While in theory, the seven-day return policy is a great thing if you can't test drive, you have to pay for the car in full," said Mr Abuelsamid. "With a traditional dealer, you can do it for free." The decision underscores the challenge Tesla has in bringing a mainstream electric car to market. Car companies and customers have shied away from electric cars in the past in part because of the added cost that batteries bring to the vehicle. The arrival of the Roadster sports car in 2008 and Model S large sedan in 2012 helped change minds about electric vehicles. The sedan, typically selling for about $100,000, helped establish Tesla a global luxury brand. But Mr Musk's goal for Tesla has long been to produce a mainstream electric vehicle for the masses. When Tesla unveiled the Model 3 in 2016, it stunned the automotive industry as customers lined up around street corners at stores to plop down $1,000 deposits for the car. While Mr Musk stoked enthusiasm, he has struggled to increase production of the vehicle after starting assembly in July 2017. Tesla said the $35,000 version of the Model 3 has a 220-mile range and can go from zero to 60 in 5.6 seconds.

Tesla shuts its stores, moves to online-only sales model

Tesla Inc Chief Executive Officer Elon Musk changed his Twitter display name to "Elon Tusk" and promised news from his electric carmaker later this week in another late-night flurry of tweets between Tuesday evening and Wednesday morning.

In a series of tweets to his 25 million followers following charges from the US Securities and Exchange Commission earlier this week, Musk accused the regulator of failing to read Tesla's annual reports and said its oversight was "broken".

Overnight, he changed his display https://twitter.com/elonmusk name and added an elephant tag.

<img alt="Elon Musk Twitter" data-entity-type="file" data-entity-uuid="ac345fe8-f194-4088-83bd-710fb3f78093" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2810%29_1.jpg" />

Shares of the company were up nearly 5 per cent at $312.15 in afternoon trading on Wednesday, after Musk said Tesla would have "news" at 2 pm California time on Thursday.

Also read: <a href="http://www.wionews.com/world/elon-musk-tweet-may-cost-him-job-as-tesla-ceo-199947">Elon Musk tweet may cost him </a><a href="http://www.wionews.com/world/elon-musk-tweet-may-cost-him-job-as-tesla-ceo-199947">job</a><a href="http://www.wionews.com/world/elon-musk-tweet-may-cost-him-job-as-tesla-ceo-199947"> as Tesla CEO</a>

The company, which is deep in debt as it ramps up production of its popular Model 3 sedan, is due to repay a $920 million convertible bond a day later.

Convertible issues give bondholders the right to trade their debt for equity after shares rise over a certain price. Tesla shares are currently about $48 below the $359.87 conversion price.

Tesla had $3.7 billion in cash and cash equivalents at the end of December, according to the company's annual filing.

Musk had promised last year to have his public statements vetted by the company's board, as part of a settlement with the SEC that headed off demands for him to resign as Tesla CEO.

Tesla did not immediately respond to request for comment.

Tesla Inc Chief Executive Officer Elon Musk changed his Twitter display name to "Elon Tusk" and promised news from his electric carmaker later this week in another late-night flurry of tweets between Tuesday evening and Wednesday morning.

Tesla Inc Chief Executive Officer Elon Musk changed his Twitter display name to "Elon Tusk" and promised news from his electric carmaker later this week in another late-night flurry of tweets between Tuesday evening and Wednesday morning. In a series of tweets to his 25 million followers following charges from the US Securities and Exchange Commission earlier this week, Musk accused the regulator of failing to read Tesla's annual reports and said its oversight was "broken". Overnight, he changed his display https://twitter.com/elonmusk name and added an elephant tag. Shares of the company were up nearly 5 per cent at $312.15 in afternoon trading on Wednesday, after Musk said Tesla would have "news" at 2 pm California time on Thursday. Also read: Elon Musk tweet may cost him job as Tesla CEO The company, which is deep in debt as it ramps up production of its popular Model 3 sedan, is due to repay a $920 million convertible bond a day later. Convertible issues give bondholders the right to trade their debt for equity after shares rise over a certain price. Tesla shares are currently about $48 below the $359.87 conversion price. Tesla had $3.7 billion in cash and cash equivalents at the end of December, according to the company's annual filing. Musk had promised last year to have his public statements vetted by the company's board, as part of a settlement with the SEC that headed off demands for him to resign as Tesla CEO. Tesla did not immediately respond to request for comment.

Meet Elon Tusk: Tesla chief changes Twitter display name

The standoff between US stock regulators and mercurial <a href="http://www.wionews.com/world/sec-asks-us-judge-to-hold-teslas-musk-in-contempt-of-violating-deal-199725">Tesla chief Elon Musk</a> has taken a dramatic turn over a tweet that could cost the entrepreneur his job as CEO of the electric carmaker.

Musk, 47, is a visionary and inventive boss but is also highly unpredictable, especially on social network Twitter, where he often communicates in defiance of rules imposed on executives of publicly-traded companies.

The Securities and Exchange Commission (SEC) on Monday accused him of violating the terms of a court-endorsed deal between him and the regulatory agency stating that he should avoid sending any tweet that could affect the price of Tesla shares.

On February 19, he tweeted that Tesla would make 500,000 cars in 2019 -- up from the 400,000 that the company had estimated until then, as it grapples with production problems with the Model 3.

Musk corrected himself four hours later, saying that Tesla would indeed produce about 400,000 cars this year: "Meant to say annualized production rate at end of 2019 probably around 500k."

But that correction was not enough for a federal judge, who gave Musk two weeks to explain why he should be spared from being held in contempt for violating the agreement with the SEC.

Options&nbsp; 
"No CEO would survive this," said Charles Elson, a corporate governance specialist at the University of Delaware.

"If the board wishes to get ahead of the problem, they may have to take action as serious as relieving Musk of his executive responsibilities, at least for a period of time," said Stephen Davis, a senior fellow at Harvard's Program on Corporate Governance.

For Davis, executives of publicly traded companies have a responsibility to provide accurate information.&nbsp;

"You have special responsibility to be accurate... if information is not accurate, then the question arises, are you the right person to be running a public company?"

Last year, the SEC opened an investigation into Tesla and Musk after he tweeted that he planned to take Tesla private and already had the financing to do it -- an assertion that proved false but nonetheless made investors who bet against the company lose millions.

Credibility at stake&nbsp; 
To settle fraud charges stemming from the tweet, Musk had to resign as Tesla chairman, both he and the company had to pay a $20 million fine and the SEC demanded oversight of his social media use.

"We are sceptical that (Tesla) can prove oversight, particularly given that its new general counsel resigned last week just hours after the social media posts in question," said Garett Nelson of CFRA Research.

"We believe Musk is likely to be subject to additional penalties which could include any number of measures -- additional fines, social media restrictions or worse."

While the February 19 tweet "was presumably to highlight what (Tesla) has achieved in a short period of time, it also opens the door to potential legal jeopardy for Musk," said Canaccord Genuity analyst Jed Dorsheimer.

The penalty against Musk could be heavy because the SEC's credibility as guarantor of investors' interests is at stake, said Davis.

"It's not only about Elon Musk. I think at the end of the day it's also about the SEC sending a signal to all corporate leaders that the information they release to the market needs to be accurate," he added.

Musk's reasoning is that "if I leave company collapses and everyone loses so, therefore, I can do whatever I want" -- an argument the SEC should ignore, Elson said.

"Unless they react to this appropriately, they've got a real problem enforcing these laws against other people."

The standoff between US stock regulators and mercurial Tesla chief Elon Musk has taken a dramatic turn over a tweet that could cost the entrepreneur his job as CEO of the electric carmaker.

The standoff between US stock regulators and mercurial Tesla chief Elon Musk has taken a dramatic turn over a tweet that could cost the entrepreneur his job as CEO of the electric carmaker. Musk, 47, is a visionary and inventive boss but is also highly unpredictable, especially on social network Twitter, where he often communicates in defiance of rules imposed on executives of publicly-traded companies. The Securities and Exchange Commission (SEC) on Monday accused him of violating the terms of a court-endorsed deal between him and the regulatory agency stating that he should avoid sending any tweet that could affect the price of Tesla shares. On February 19, he tweeted that Tesla would make 500,000 cars in 2019 -- up from the 400,000 that the company had estimated until then, as it grapples with production problems with the Model 3. Musk corrected himself four hours later, saying that Tesla would indeed produce about 400,000 cars this year: "Meant to say annualized production rate at end of 2019 probably around 500k." But that correction was not enough for a federal judge, who gave Musk two weeks to explain why he should be spared from being held in contempt for violating the agreement with the SEC. Options "No CEO would survive this," said Charles Elson, a corporate governance specialist at the University of Delaware. "If the board wishes to get ahead of the problem, they may have to take action as serious as relieving Musk of his executive responsibilities, at least for a period of time," said Stephen Davis, a senior fellow at Harvard's Program on Corporate Governance. For Davis, executives of publicly traded companies have a responsibility to provide accurate information. "You have special responsibility to be accurate... if information is not accurate, then the question arises, are you the right person to be running a public company?" Last year, the SEC opened an investigation into Tesla and Musk after he tweeted that he planned to take Tesla private and already had the financing to do it -- an assertion that proved false but nonetheless made investors who bet against the company lose millions. Credibility at stake To settle fraud charges stemming from the tweet, Musk had to resign as Tesla chairman, both he and the company had to pay a $20 million fine and the SEC demanded oversight of his social media use. "We are sceptical that (Tesla) can prove oversight, particularly given that its new general counsel resigned last week just hours after the social media posts in question," said Garett Nelson of CFRA Research. "We believe Musk is likely to be subject to additional penalties which could include any number of measures -- additional fines, social media restrictions or worse." While the February 19 tweet "was presumably to highlight what (Tesla) has achieved in a short period of time, it also opens the door to potential legal jeopardy for Musk," said Canaccord Genuity analyst Jed Dorsheimer. The penalty against Musk could be heavy because the SEC's credibility as guarantor of investors' interests is at stake, said Davis. "It's not only about Elon Musk. I think at the end of the day it's also about the SEC sending a signal to all corporate leaders that the information they release to the market needs to be accurate," he added. Musk's reasoning is that "if I leave company collapses and everyone loses so, therefore, I can do whatever I want" -- an argument the SEC should ignore, Elson said. "Unless they react to this appropriately, they've got a real problem enforcing these laws against other people."

Elon Musk tweet may cost him job as Tesla CEO

The US Securities and Exchange Commission on Monday said a federal court should hold <a href="http://www.wionews.com/world/now-musk-eyes-tunnel-through-australian-mountain-to-solve-traffic-woes-190839">Tesla Inc Chief Executive Officer Elon Musk </a>in contempt for violating last year's settlement with the federal regulatory agency due to new statements made on Twitter, sending shares of the electric carmaker down 5 per cent in extended trade.

Musk, Tesla and the SEC last year settled a lawsuit filed by the federal agency over misleading tweets Must make in August that he planned to take the company private. As part of that settlement, any material statements made by Musk on social media were to be vetted in advance by the company.

The regulator pointed to Musk's February 19 tweet: "Tesla made 0 cars in 2011, but will make around 500k in 2019," noting that Musk did not seek or receive preapproval before publishing this tweet, which was inaccurate and disseminated to over 24 million people.

"Musk has thus violated the court's final judgment by engaging in the very conduct that the pre-approval provision of the final judgment was designed to prevent," the SEC wrote in its motion filed on Monday in federal court in Manhattan.

Musk subsequently clarified his tweet to say that the "annualised production rate" at year-end 2019 would probably be about 500,000, with deliveries expected to be about 400,000.

The motion asks the judge to issue an order that would put the onus on Musk to show why he should not be held in contempt for violating the settlement.

Tesla did not immediately respond to a request for comment.

Tesla and Musk agreed in September to pay $20 million each to the SEC, and the billionaire stepped down as the company's chairman but remained as chief executive. In the settlement, the agency pulled back from its original demand that Musk, who is synonymous with the Tesla brand, be barred from running Tesla, a sanction many investors said would be disastrous.

The settlement was approved by a US judge in October, who can now decide whether its terms have been violated.

In a response to the SEC's demand for information regarding the Feb. 19 tweet, a lawyer for Tesla and Musk said the CEO's tweet was meant to reiterate information already approved, then disseminated when the company released fourth-quarter earnings results in January.

Although the tweet was not pre-approved, the lawyer wrote, Musk believed its substance had been "appropriately vetted, pre-approved and publicly disseminated." Moreover, the lawyer said, the statement was made outside of market trading hours.

It was not immediately clear what the repercussions would be Musk to be found in contempt, as such a citation does not necessarily mean the original agreement is now null and void.

The SEC could seek a so-called bar order, removing him from Tesla’s board, or could ask for a lesser penalty, like a monetary fine, said Stephen Diamond, a professor of corporate governance at Santa Clara University.

The SEC could also ask the court to reopen the original settlement for renegotiation, he said, perhaps asking that the original charges be reinstated.

"It’s a pretty unusual situation," Diamond said, adding that "all bets are off."

The US Securities and Exchange Commission on Monday said a federal court should hold Tesla Inc Chief Executive Officer Elon Musk in contempt for violating last year's settlement with the federal regulatory agency due to new statements made on Twitter, sending shares of the electric carmaker down 5 per cent in extended trade.

The US Securities and Exchange Commission on Monday said a federal court should hold Tesla Inc Chief Executive Officer Elon Musk in contempt for violating last year's settlement with the federal regulatory agency due to new statements made on Twitter, sending shares of the electric carmaker down 5 per cent in extended trade. Musk, Tesla and the SEC last year settled a lawsuit filed by the federal agency over misleading tweets Must make in August that he planned to take the company private. As part of that settlement, any material statements made by Musk on social media were to be vetted in advance by the company. The regulator pointed to Musk's February 19 tweet: "Tesla made 0 cars in 2011, but will make around 500k in 2019," noting that Musk did not seek or receive preapproval before publishing this tweet, which was inaccurate and disseminated to over 24 million people. "Musk has thus violated the court's final judgment by engaging in the very conduct that the pre-approval provision of the final judgment was designed to prevent," the SEC wrote in its motion filed on Monday in federal court in Manhattan. Musk subsequently clarified his tweet to say that the "annualised production rate" at year-end 2019 would probably be about 500,000, with deliveries expected to be about 400,000. The motion asks the judge to issue an order that would put the onus on Musk to show why he should not be held in contempt for violating the settlement. Tesla did not immediately respond to a request for comment. Tesla and Musk agreed in September to pay $20 million each to the SEC, and the billionaire stepped down as the company's chairman but remained as chief executive. In the settlement, the agency pulled back from its original demand that Musk, who is synonymous with the Tesla brand, be barred from running Tesla, a sanction many investors said would be disastrous. The settlement was approved by a US judge in October, who can now decide whether its terms have been violated. In a response to the SEC's demand for information regarding the Feb. 19 tweet, a lawyer for Tesla and Musk said the CEO's tweet was meant to reiterate information already approved, then disseminated when the company released fourth-quarter earnings results in January. Although the tweet was not pre-approved, the lawyer wrote, Musk believed its substance had been "appropriately vetted, pre-approved and publicly disseminated." Moreover, the lawyer said, the statement was made outside of market trading hours. It was not immediately clear what the repercussions would be Musk to be found in contempt, as such a citation does not necessarily mean the original agreement is now null and void. The SEC could seek a so-called bar order, removing him from Tesla’s board, or could ask for a lesser penalty, like a monetary fine, said Stephen Diamond, a professor of corporate governance at Santa Clara University. The SEC could also ask the court to reopen the original settlement for renegotiation, he said, perhaps asking that the original charges be reinstated. "It’s a pretty unusual situation," Diamond said, adding that "all bets are off."

SEC asks US judge to hold Tesla's Musk in contempt of violating deal

NASA gave its final go-ahead on Friday to billionaire entrepreneur Elon Musk's SpaceX company to conduct its first unmanned test flight of a newly designed crew capsule to the International Space Station on March 2.

The approval cleared a key hurdle for SpaceX in its quest to help NASA revive America's human spaceflight program, stalled since space shuttle missions came to an end in 2011.

NASA has awarded SpaceX $2.6 billion, and aerospace rival Boeing Co $4.2 billion to build separate rocket and capsule launch systems to carry US astronauts to and from the space station, an orbital research laboratory that flies 250 miles above Earth.

"Following a full day of briefings and discussion, NASA and SpaceX are proceeding with plans to conduct the first uncrewed test flight of the Crew Dragon on a mission to the International Space Station," NASA said in a statement announcing its decision.

NASA gave its final go-ahead on Friday to billionaire entrepreneur Elon Musk's SpaceX company to conduct its first unmanned test flight of a newly designed crew capsule to the International Space Station on March 2.

NASA gave its final go-ahead on Friday to billionaire entrepreneur Elon Musk's SpaceX company to conduct its first unmanned test flight of a newly designed crew capsule to the International Space Station on March 2. The approval cleared a key hurdle for SpaceX in its quest to help NASA revive America's human spaceflight program, stalled since space shuttle missions came to an end in 2011. NASA has awarded SpaceX $2.6 billion, and aerospace rival Boeing Co $4.2 billion to build separate rocket and capsule launch systems to carry US astronauts to and from the space station, an orbital research laboratory that flies 250 miles above Earth. "Following a full day of briefings and discussion, NASA and SpaceX are proceeding with plans to conduct the first uncrewed test flight of the Crew Dragon on a mission to the International Space Station," NASA said in a statement announcing its decision.

NASA clears SpaceX test flight to space station

A rocket took off from Cape Canaveral in Florida on Thursday night carrying Israel's Beresheet spacecraft, aiming to make history twice - as the first private-sector landing on the Moon, and the first from the Jewish state.

The 585-kilogram (1,290-pound) Beresheet, which means "Genesis" in Hebrew, lifted off at 8:45 pm (0145 GMT Friday) atop a Falcon 9 rocket from the private US-based SpaceX company of entrepreneur Elon Musk.

Take-off was followed live back in Israel, with Prime Minister Benjamin Netanyahu watching alongside engineers from the control center of the Israeli Aerospace Industries (IAI).

The Israeli craft has been placed in Earth orbit, from where it will use its own engine to undertake a seven-week trip to reach the Moon and touch down on April 11 in a large plain.&nbsp;

The rocket also contains an Indonesian satellite and a satellite of the US Air Force Research Laboratory.

The unmanned mission is part of renewed global interest in the Moon, sometimes called the "eighth continent" of the Earth, and comes 50 years after American astronauts first walked on the lunar surface.&nbsp;

"This is history in the making - and it's live! Israel is aiming for the #moon and you're all invited to watch," said a Twitter message from SpaceIL, the non-profit organization that designed the Israeli craft.

It was backed notably by businessman and philanthropist Morris Kahn, who financed the development of a craft. "Make us proud," he said Thursday.

Entrepreneurs, not government space agencies, financed the mission, which was initially projected at $10 million but eventually grew to $100 million.

Other partners are Israel Aerospace Industries (IAI), Israel's space agency, and the country's Ministry of Science and Technology.

So far, only Russia, the United States and China have made the 384,000-kilometer (239,000-mile) journey and landed spacecraft on the Moon.

China's Chang'e-4 made the first-ever soft landing on the far side of the Moon on January 3, after a probe sent by Beijing made a Lunar landing elsewhere in 2013.

Americans are the only ones to have walked on the lunar surface, but have not been there since 1972.

For Israel, the landing itself is the main mission, but the spacecraft also carries a scientific instrument to measure the lunar magnetic field, which will help understanding of the Moon's formation.

Technically, it is far from a trivial mission.

After its initial boost from the Falcon 9, the Beresheet's British engine will have to make several ignitions to place the spacecraft on the correct trajectory to the Moon.&nbsp;

When it arrives, its landing gear must cushion the descent onto the lunar surface to prevent Beresheet from crashing.

India plans to follow

Beresheet carries a "time capsule" loaded with digital files containing a Bible, children's drawings, Israeli songs, memories of a Holocaust survivor and the blue-and-white Israeli flag.

At a cost of $100 million, "this is the lowest-budget spacecraft to ever undertake such a mission. The superpowers who managed to land a spacecraft on the Moon have spent hundreds of millions of dollars in government funding," IAI said in an earlier statement.

"Beresheet is the first spacecraft to land on the Moon as a result of a private initiative, rather than a government."&nbsp;

After China earlier this year, and now Israel, India hopes to become the fifth lunar country in the spring with its Chandrayaan-2 mission. It aims to put a craft with a rover onto the Moon's surface to collect data.

Japan plans to send a small lunar lander, called SLIM, to study a volcanic area around 2020-2021.&nbsp;

As for the Americans, a return to the Moon is now the official policy of NASA, according to guidelines issued by President Donald Trump in 2017.&nbsp;

"This time, when we go to the Moon, we're actually going to stay," NASA Administrator Jim Bridenstine said last week.&nbsp;

To achieve this, the US space agency is changing its model and no longer wants to design the missions itself.

The National Aeronautics and Space Administration, which has installed equipment on Beresheet to upload its signals from the Moon, said last week it aims to land instruments later this year or next year and that it is inviting private sector bids to build and launch the US probes.

The US space agency plans to build a small space station, dubbed Gateway, in the Moon's orbit by 2026, and envisages a manned mission to Mars in the following decade.&nbsp;

A rocket took off from Cape Canaveral in Florida on Thursday night carrying Israel's Beresheet spacecraft, aiming to make history twice - as the first private-sector landing on the Moon, and the first from the Jewish state.

A rocket took off from Cape Canaveral in Florida on Thursday night carrying Israel's Beresheet spacecraft, aiming to make history twice - as the first private-sector landing on the Moon, and the first from the Jewish state. The 585-kilogram (1,290-pound) Beresheet, which means "Genesis" in Hebrew, lifted off at 8:45 pm (0145 GMT Friday) atop a Falcon 9 rocket from the private US-based SpaceX company of entrepreneur Elon Musk. Take-off was followed live back in Israel, with Prime Minister Benjamin Netanyahu watching alongside engineers from the control center of the Israeli Aerospace Industries (IAI). The Israeli craft has been placed in Earth orbit, from where it will use its own engine to undertake a seven-week trip to reach the Moon and touch down on April 11 in a large plain. The rocket also contains an Indonesian satellite and a satellite of the US Air Force Research Laboratory. The unmanned mission is part of renewed global interest in the Moon, sometimes called the "eighth continent" of the Earth, and comes 50 years after American astronauts first walked on the lunar surface. "This is history in the making - and it's live! Israel is aiming for the #moon and you're all invited to watch," said a Twitter message from SpaceIL, the non-profit organization that designed the Israeli craft. It was backed notably by businessman and philanthropist Morris Kahn, who financed the development of a craft. "Make us proud," he said Thursday. Entrepreneurs, not government space agencies, financed the mission, which was initially projected at $10 million but eventually grew to $100 million. Other partners are Israel Aerospace Industries (IAI), Israel's space agency, and the country's Ministry of Science and Technology. So far, only Russia, the United States and China have made the 384,000-kilometer (239,000-mile) journey and landed spacecraft on the Moon. China's Chang'e-4 made the first-ever soft landing on the far side of the Moon on January 3, after a probe sent by Beijing made a Lunar landing elsewhere in 2013. Americans are the only ones to have walked on the lunar surface, but have not been there since 1972. For Israel, the landing itself is the main mission, but the spacecraft also carries a scientific instrument to measure the lunar magnetic field, which will help understanding of the Moon's formation. Technically, it is far from a trivial mission. After its initial boost from the Falcon 9, the Beresheet's British engine will have to make several ignitions to place the spacecraft on the correct trajectory to the Moon. When it arrives, its landing gear must cushion the descent onto the lunar surface to prevent Beresheet from crashing. India plans to follow Beresheet carries a "time capsule" loaded with digital files containing a Bible, children's drawings, Israeli songs, memories of a Holocaust survivor and the blue-and-white Israeli flag. At a cost of $100 million, "this is the lowest-budget spacecraft to ever undertake such a mission. The superpowers who managed to land a spacecraft on the Moon have spent hundreds of millions of dollars in government funding," IAI said in an earlier statement. "Beresheet is the first spacecraft to land on the Moon as a result of a private initiative, rather than a government." After China earlier this year, and now Israel, India hopes to become the fifth lunar country in the spring with its Chandrayaan-2 mission. It aims to put a craft with a rover onto the Moon's surface to collect data. Japan plans to send a small lunar lander, called SLIM, to study a volcanic area around 2020-2021. As for the Americans, a return to the Moon is now the official policy of NASA, according to guidelines issued by President Donald Trump in 2017. "This time, when we go to the Moon, we're actually going to stay," NASA Administrator Jim Bridenstine said last week. To achieve this, the US space agency is changing its model and no longer wants to design the missions itself. The National Aeronautics and Space Administration, which has installed equipment on Beresheet to upload its signals from the Moon, said last week it aims to land instruments later this year or next year and that it is inviting private sector bids to build and launch the US probes. The US space agency plans to build a small space station, dubbed Gateway, in the Moon's orbit by 2026, and envisages a manned mission to Mars in the following decade.

Israel's first Moon mission blasts off from Florida

NASA said on Friday it was weighing an option to buy two additional astronaut seats aboard a Russian rocket as a contingency plan against further delays in the launch systems being developed by Elon Musk's SpaceX and Boeing Co.

A possible purchase "provides flexibility and back-up capability" as the companies build rocket-and-capsule launch systems to return astronauts to the International Space Station (ISS) from US soil for the first time since NASA's Space Shuttle program went dark in 2011.

The US space agency has since had to rely on Russia's Roscosmos program to ferry astronauts to the orbital space station at a cost of roughly $80 million per seat, NASA has said.

After 2019 there are no seats available on the spacecraft for US crew, and a NASA advisory panel recommended on Friday that the US space program develop a contingency plan to guarantee access to the station in case technical problems delay Boeing and SpaceX any further.

A NASA spokesman on Friday characterized a solicitation request NASA filed on Wednesday as a contingency plan. NASA said it could buy a seat for one astronaut in the fall and another seat in the spring of 2020.

"The absence of US&nbsp;crew members at any point would diminish ISS operations to an inoperable state," NASA wrote in its solicitation on Wednesday.

NASA awarded $6.8 billion to SpaceX, founded by Tesla Chief Executive Elon Musk, and aerospace giant Boeing to develop separate launch systems to fly astronauts to space, but both companies have faced technical challenges and delays.

NASA announced another slip last week, citing concerns for both contractors such as the need to complete hardware testing and other factors. The US space agency said SpaceX was now targeting March 2 instead of February 23 for its un-crewed Crew Dragon test flight, with its astronaut flight coming in July.

NASA said Boeing's un-crewed CST-100 Starliner would fly no sooner than April, with Boeing's crewed mission is currently slated for August.

"Typically, problems will be discovered during these test flights," NASA wrote.

NASA said on Friday it was weighing an option to buy two additional astronaut seats aboard a Russian rocket as a contingency plan against further delays in the launch systems being developed by Elon Musk's SpaceX and Boeing Co.

NASA said on Friday it was weighing an option to buy two additional astronaut seats aboard a Russian rocket as a contingency plan against further delays in the launch systems being developed by Elon Musk's SpaceX and Boeing Co. A possible purchase "provides flexibility and back-up capability" as the companies build rocket-and-capsule launch systems to return astronauts to the International Space Station (ISS) from US soil for the first time since NASA's Space Shuttle program went dark in 2011. The US space agency has since had to rely on Russia's Roscosmos program to ferry astronauts to the orbital space station at a cost of roughly $80 million per seat, NASA has said. After 2019 there are no seats available on the spacecraft for US crew, and a NASA advisory panel recommended on Friday that the US space program develop a contingency plan to guarantee access to the station in case technical problems delay Boeing and SpaceX any further. A NASA spokesman on Friday characterized a solicitation request NASA filed on Wednesday as a contingency plan. NASA said it could buy a seat for one astronaut in the fall and another seat in the spring of 2020. "The absence of US crew members at any point would diminish ISS operations to an inoperable state," NASA wrote in its solicitation on Wednesday. NASA awarded $6.8 billion to SpaceX, founded by Tesla Chief Executive Elon Musk, and aerospace giant Boeing to develop separate launch systems to fly astronauts to space, but both companies have faced technical challenges and delays. NASA announced another slip last week, citing concerns for both contractors such as the need to complete hardware testing and other factors. The US space agency said SpaceX was now targeting March 2 instead of February 23 for its un-crewed Crew Dragon test flight, with its astronaut flight coming in July. NASA said Boeing's un-crewed CST-100 Starliner would fly no sooner than April, with Boeing's crewed mission is currently slated for August. "Typically, problems will be discovered during these test flights," NASA wrote.

NASA mulls buying new rides to space from Russia amid programme delays

Amazon.com Inc said on Friday it would lead a $700 million investment in US electric pickup truck startup Rivian Automotive LLC, in the e-commerce giant`s biggest bet on technologies with the potential to reshape the automotive sector.

The deal represents a major endorsement of Rivian's electric vehicle technology by the world's largest online retailer, which is looking for ways to boost the speed and reduce the cost of its deliveries.&nbsp;

Reuters reported on Tuesday that Amazon and General Motors Co (GM) were in talks to invest in Rivian. GM's talks with Rivian about investment are continuing and any deal would be announced at a later date, people familiar with the talks said on Friday.

Rivian could ultimately be valued at between $3 billion and $4 billion, one of the sources said.

The Rivian deal comes as its much larger electric car manufacturing rival, Tesla Inc, struggles to stabilize production and deliver consistent profits as it ramps up its mass-market Model 3 sedan.

Tesla CEO Elon Musk told investors in August that an electric pickup is ''probably my personal favourite for the next product'' from the company. But he has spoken only in general about a potential launch, saying that it would happen ''right after'' Tesla’s Model Y, which the company has targeted to start production in 2020.&nbsp;

Rivian unveiled its electric R1T pickup and R1S SUV for the first time at the Los Angeles Auto Show last November. But the company had piqued Amazon`s interest earlier, according to one of the sources.

Amazon CEO Jeff Bezos personally reached out to Rivian founder and CEO RJ Scaringe last summer to express interest in an investment, the source said. Since then Amazon has stepped up its investment in the car sector, participating in a $530 million funding round announced last week in self-driving car startup Aurora Innovation Inc.

Amazon is looking for deals that can speed packages to shoppers’ doorsteps regardless of spikes in consumer demand or shortages of the delivery personnel. Last year, Mercedes said Amazon had become the biggest customer of its Sprinter vans, securing 20,000 vehicles for delivery contractors.

Amazon has sought to win customers inside the car as well. Working with BMW AG, Ford Motor Co and Toyota Motor Corp, Amazon has enabled its Alexa virtual assistant to be installed in new models so drivers can dictate what music they want to hear and what tasks they want it to perform, hands-free.

Rivian aspires to be the first to produce a mass-market electric pickup. It intends to begin selling its R1T by the end of 2020.

Scaringe has described the Rivian vehicle’s platform as a skateboard that packages the drive units, battery pack, suspension system, brakes and cooling system all below wheel height to allow for more storage space and greater stability due to a lower centre of gravity.

He has also said the company plans to partner with outside firms to develop advanced self-driving technology, rather than try to do so on its own.

Rivian's existing financial backers include Saudi auto distributor Abdul Latif Jameel Co, Sumitomo Corp of Americas and Standard Chartered Bank. 
&nbsp;

Amazon.com Inc said on Friday it would lead a $700 million investment in US electric pickup truck startup Rivian Automotive LLC, in the e-commerce giant`s biggest bet on technologies with the potential to reshape the automotive sector.

Amazon.com Inc said on Friday it would lead a $700 million investment in US electric pickup truck startup Rivian Automotive LLC, in the e-commerce giant`s biggest bet on technologies with the potential to reshape the automotive sector. The deal represents a major endorsement of Rivian's electric vehicle technology by the world's largest online retailer, which is looking for ways to boost the speed and reduce the cost of its deliveries. Reuters reported on Tuesday that Amazon and General Motors Co (GM) were in talks to invest in Rivian. GM's talks with Rivian about investment are continuing and any deal would be announced at a later date, people familiar with the talks said on Friday. Rivian could ultimately be valued at between $3 billion and $4 billion, one of the sources said. The Rivian deal comes as its much larger electric car manufacturing rival, Tesla Inc, struggles to stabilize production and deliver consistent profits as it ramps up its mass-market Model 3 sedan. Tesla CEO Elon Musk told investors in August that an electric pickup is ''probably my personal favourite for the next product'' from the company. But he has spoken only in general about a potential launch, saying that it would happen ''right after'' Tesla’s Model Y, which the company has targeted to start production in 2020. Rivian unveiled its electric R1T pickup and R1S SUV for the first time at the Los Angeles Auto Show last November. But the company had piqued Amazon`s interest earlier, according to one of the sources. Amazon CEO Jeff Bezos personally reached out to Rivian founder and CEO RJ Scaringe last summer to express interest in an investment, the source said. Since then Amazon has stepped up its investment in the car sector, participating in a $530 million funding round announced last week in self-driving car startup Aurora Innovation Inc. Amazon is looking for deals that can speed packages to shoppers’ doorsteps regardless of spikes in consumer demand or shortages of the delivery personnel. Last year, Mercedes said Amazon had become the biggest customer of its Sprinter vans, securing 20,000 vehicles for delivery contractors. Amazon has sought to win customers inside the car as well. Working with BMW AG, Ford Motor Co and Toyota Motor Corp, Amazon has enabled its Alexa virtual assistant to be installed in new models so drivers can dictate what music they want to hear and what tasks they want it to perform, hands-free. Rivian aspires to be the first to produce a mass-market electric pickup. It intends to begin selling its R1T by the end of 2020. Scaringe has described the Rivian vehicle’s platform as a skateboard that packages the drive units, battery pack, suspension system, brakes and cooling system all below wheel height to allow for more storage space and greater stability due to a lower centre of gravity. He has also said the company plans to partner with outside firms to develop advanced self-driving technology, rather than try to do so on its own. Rivian's existing financial backers include Saudi auto distributor Abdul Latif Jameel Co, Sumitomo Corp of Americas and Standard Chartered Bank.

Amazon places big bet on aspiring Tesla rival Rivian

Tesla Inc said it would cut thousands of jobs to rein in costs as it ramps up production of its crucial Model 3 sedan, and the electric car maker expects fourth-quarter profit to be lower than the previous quarter, sending its shares down 7 per cent.

The company has long struggled with cash burn and Chief Executive Officer Elon Musk has been under intense pressure to stabilise the production of the Model 3, seen critical for easing a cash crunch and achieving long-term profitability.

"I want to make sure that you know all the facts and figures and understand that the road ahead is very difficult," Musk said in an email to employees that was published on the company's blog.

"There isn't any other way," he said.

This is Tesla's second job cut in seven months and comes just days after it cut US prices for all vehicles and fell short on quarterly deliveries of its mass-market Model 3 sedan.

"This quarter, as with Q3, shipment of higher priced Model 3 variants (this time to Europe and Asia) will hopefully allow us, with great difficulty, effort and some luck, to target a tiny profit," Musk said.

Tesla reported a profit of $311.5 million, or $1.75 per share, for the third quarter ended Sept. 30.

Musk, who has often set goals and deadlines that Tesla has failed to meet, surprised investors by delivering on his pledge to make the company profitable in the third quarter, for only the third time in its 15-year existence.

Tesla said on Friday it would reduce full-time employee headcount by about 7per cent and retain only the most critical temps and contractors.

In June, the company said it was cutting 9 per cent of its workforce.

As of Dec. 31, 2017, Tesla had 37,543 full-time employees, according to its latest annual filing.

Tesla Inc said it would cut thousands of jobs to rein in costs as it ramps up production of its crucial Model 3 sedan, and the electric car maker expects fourth-quarter profit to be lower than the previous quarter, sending its shares down 7 per cent.

Tesla Inc said it would cut thousands of jobs to rein in costs as it ramps up production of its crucial Model 3 sedan, and the electric car maker expects fourth-quarter profit to be lower than the previous quarter, sending its shares down 7 per cent. The company has long struggled with cash burn and Chief Executive Officer Elon Musk has been under intense pressure to stabilise the production of the Model 3, seen critical for easing a cash crunch and achieving long-term profitability. "I want to make sure that you know all the facts and figures and understand that the road ahead is very difficult," Musk said in an email to employees that was published on the company's blog. "There isn't any other way," he said. This is Tesla's second job cut in seven months and comes just days after it cut US prices for all vehicles and fell short on quarterly deliveries of its mass-market Model 3 sedan. "This quarter, as with Q3, shipment of higher priced Model 3 variants (this time to Europe and Asia) will hopefully allow us, with great difficulty, effort and some luck, to target a tiny profit," Musk said. Tesla reported a profit of $311.5 million, or $1.75 per share, for the third quarter ended Sept. 30. Musk, who has often set goals and deadlines that Tesla has failed to meet, surprised investors by delivering on his pledge to make the company profitable in the third quarter, for only the third time in its 15-year existence. Tesla said on Friday it would reduce full-time employee headcount by about 7per cent and retain only the most critical temps and contractors. In June, the company said it was cutting 9 per cent of its workforce. As of Dec. 31, 2017, Tesla had 37,543 full-time employees, according to its latest annual filing.

Tesla to cut workforce by 7 per cent, sees smaller fourth-quarter profit

Australia could become a test ground for another of<a href="http://www.wionews.com/world/tesla-ceo-musk-says-to-break-ground-on-shanghai-gigafactory-today-188757"> Elon Musk</a>'s massive infrastructure projects after the maverick billionaire tweeted a "bargain" price to build a tunnel through a mountain to solve Sydney's traffic woes.

Musk in 2017 made a Twitter pitch -- and followed through with the offer -- to build what was the world's biggest battery in an Australian state to solve its severe energy crisis.

The entrepreneur behind electric carmaker Tesla has most recently turned his sights on tackling city traffic via low-cost tunnels created by his Boring Company, and in December unveiled a sample project near Los Angeles.

So when an Australian politician tweeted at Musk on Wednesday about the costs of drilling through a mountain range north of Sydney, he responded quickly.

"I'm a lawmaker in Sydney, which is choking with traffic. How much to build a 50km tunnel through the Blue Mountains and open up the west of our State?," asked New South Wales state MP Jeremy Buckingham.

"About $15M/km for a two-way high-speed transit, so probably around $750M plus maybe $50M/station," Musk replied late Wednesday, with his response liked more than 22,000 times on Twitter.

He has more than 24 million followers on the social media platform.

Another billionaire, Mike Cannon-Brookes, who founded Australian software startup Atlassian, weighed in on the exchange, saying the estimated price tag "sounds like a bargain for Sydney".&nbsp;

The population of the Sydney region has grown by around 25 per cent since 2011 to reach 5.4 million, out of a national population of 25 million, and road congestion is a major concern.

There was no indication the exchange of tunnel tweets would lead to any quick action, but it could bring some needed positive publicity for Musk.

Musk has risen to prominence with a series of ambitious ventures, particularly Tesla, but has also drawn plenty of criticism for some volatile behaviour.

He waged a public battle with a rescuer who helped save a group of boys trapped in a cave in Thailand last year, calling him a "pedo guy" after the Brit slammed his idea of building a mini-submarine to save the children as a public relations stunt.

Meanwhile, riders who have tested out Boring's prototype tunnel -- where cars are lowered by lifts then slotted into tracks and propelled along at high speeds -- have complained of a bumpy journey.

Australia could become a test ground for another of Elon Musk's massive infrastructure projects after the maverick billionaire tweeted a "bargain" price to build a tunnel through a mountain to solve Sydney's traffic woes.

Australia could become a test ground for another of Elon Musk's massive infrastructure projects after the maverick billionaire tweeted a "bargain" price to build a tunnel through a mountain to solve Sydney's traffic woes. Musk in 2017 made a Twitter pitch -- and followed through with the offer -- to build what was the world's biggest battery in an Australian state to solve its severe energy crisis. The entrepreneur behind electric carmaker Tesla has most recently turned his sights on tackling city traffic via low-cost tunnels created by his Boring Company, and in December unveiled a sample project near Los Angeles. So when an Australian politician tweeted at Musk on Wednesday about the costs of drilling through a mountain range north of Sydney, he responded quickly. "I'm a lawmaker in Sydney, which is choking with traffic. How much to build a 50km tunnel through the Blue Mountains and open up the west of our State?," asked New South Wales state MP Jeremy Buckingham. "About $15M/km for a two-way high-speed transit, so probably around $750M plus maybe $50M/station," Musk replied late Wednesday, with his response liked more than 22,000 times on Twitter. He has more than 24 million followers on the social media platform. Another billionaire, Mike Cannon-Brookes, who founded Australian software startup Atlassian, weighed in on the exchange, saying the estimated price tag "sounds like a bargain for Sydney". The population of the Sydney region has grown by around 25 per cent since 2011 to reach 5.4 million, out of a national population of 25 million, and road congestion is a major concern. There was no indication the exchange of tunnel tweets would lead to any quick action, but it could bring some needed positive publicity for Musk. Musk has risen to prominence with a series of ambitious ventures, particularly Tesla, but has also drawn plenty of criticism for some volatile behaviour. He waged a public battle with a rescuer who helped save a group of boys trapped in a cave in Thailand last year, calling him a "pedo guy" after the Brit slammed his idea of building a mini-submarine to save the children as a public relations stunt. Meanwhile, riders who have tested out Boring's prototype tunnel -- where cars are lowered by lifts then slotted into tracks and propelled along at high speeds -- have complained of a bumpy journey.

Now, Musk eyes tunnel through Australian mountain to solve traffic woes

<a href="http://www.wionews.com/world/spacex-launches-first-us-national-security-space-mission-186034">Elon Musk's SpaceX</a> will lay off about 10 per cent of its more than 6,000 employees, a source familiar with the matter said on Friday.

The company did not comment on the number of layoffs but said in emailed comments that it needs to become a "leaner" organization for which it would "part ways" with some of its workforce.

"To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company", a SpaceX spokesman said.

The layoffs were reported earlier by the LA Times.

Elon Musk's SpaceX will lay off about 10 per cent of its more than 6,000 employees, a source familiar with the matter said on Friday. The company did not comment on the number of layoffs but said in emailed comments that it needs to become a "leaner" organization for which it would "part ways" with some of its workforce.

Elon Musk's SpaceX will lay off about 10 per cent of its more than 6,000 employees, a source familiar with the matter said on Friday. The company did not comment on the number of layoffs but said in emailed comments that it needs to become a "leaner" organization for which it would "part ways" with some of its workforce. "To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company", a SpaceX spokesman said. The layoffs were reported earlier by the LA Times.

SpaceX to lay off about 10% of its workforce: Report

Tesla Inc on Monday will break ground for its Shanghai Gigafactory where it will begin making Model 3 electric vehicles (EV) by year-end, <a href="http://www.wionews.com/world/elon-musk-and-his-social-media-debacles-in-2018-186779">Chief Executive Elon Musk</a> tweeted ahead of the formal start of construction of the firm's first Chinese plant.

The $2 billion factory - long under discussion - marks a major bet by the US electric vehicle maker as it looks to bolster its presence in the world's biggest auto market, where it faces rising competition from a swathe of domestic rivals and its sales have been hit by increased tariffs on US imports.

"Looking forward to breaking ground on the @Tesla Shanghai Gigafactory today!" Musk wrote in a post on Twitter.

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Looking forward to breaking ground on the <a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw">@Tesla</a> Shanghai Gigafactory today!
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1082103637990625281?ref_src=twsrc%5Etfw">January 7, 2019</a></blockquote>
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Musk has said previously he would attend the event in Shanghai. Tesla officials in China declined to comment.

The carmaker, which currently imports US-made vehicles to sell in China, is building the plant in an auto market that is set to contract this year for the first time in decades, though so-called new-energy vehicle (NEV) sales have been strong.

China raised the import tariff on US-made cars to 40 per cent in July, but cut it back to 15 per cent from the start of this year as part of a ceasefire in a trade war with the United States. The lower tariff will last until the end of March pending trade talks.

A local plant will help Tesla lower prices in the market to compete with a new generation of local rivals including Nio Inc, Byton and XPeng Motors.

"Affordable cars must be made on same continent as customers," Musk said in another tweet.

"Shanghai Giga will produce affordable versions of 3/Y for greater China. All Model S/X &amp; higher cost versions of Model 3/Y will still be built in US for WW market, incl China," he later added, referring to the worldwide market including China.

Alan Kang, a Shanghai-based analyst for consultancy LMC Automotive, said: "Tesla's sales (in China) have dropped over the past few months because of high price caused by the tariffs. And the competition is getting more and more fierce."

"With the construction of the Shanghai factory, the faster the better (for Tesla)," Kang said.

CONSTRUCTION TARGETS

Tesla has been pushing forward its plans for the plant after it secured the site in October, hiring staff, starting procurement for building materials and setting up a financial leasing company in the city.

The so-called Gigafactory would also be China's first wholly foreign-owned car plant, a reflection of China's broader shift to open up its car market even amid the whipsawing trade war.

Tesla plans to produce its Model 3 and Model Y cars in the initial phase of production at the Shanghai plant, with an annual capacity of 250,000 vehicles.

"Aiming to finish initial construction this summer, start Model 3 production end of year &amp; reach high volume production next year," Musk wrote in a separate post on Twitter.

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Aiming to finish initial construction this summer, start Model 3 production end of year &amp; reach high volume production next year
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1082116267568377857?ref_src=twsrc%5Etfw">January 7, 2019</a></blockquote>
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"Shanghai Giga production of Model 3/Y will serve greater China region," Musk added in another one.

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Shanghai Giga production of Model 3/Y will serve greater China region
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1082118212546953216?ref_src=twsrc%5Etfw">January 7, 2019</a></blockquote>
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Shares in Chinese suppliers to Tesla, including Tianjin Motor Dies Co Ltd and VT Industrial Technology Co Ltd, rallied on Monday after Musk's comments.

The Shanghai government last month said mayor Ying Yong had visited the site and urged Tesla to "accelerate" work on the factory. He said production would start to some degree in the second half of 2019.

China is the largest market for electric vehicles, and most forecasters predict EV sales in the country will accelerate rapidly as the government drives toward a goal of 100 per cent electric vehicles by 2030. 
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A local plant will help Tesla lower prices in the market to compete with a new generation of local rivals including Nio Inc, Byton and XPeng Motors.

Tesla Inc on Monday will break ground for its Shanghai Gigafactory where it will begin making Model 3 electric vehicles (EV) by year-end, Chief Executive Elon Musk tweeted ahead of the formal start of construction of the firm's first Chinese plant. The $2 billion factory - long under discussion - marks a major bet by the US electric vehicle maker as it looks to bolster its presence in the world's biggest auto market, where it faces rising competition from a swathe of domestic rivals and its sales have been hit by increased tariffs on US imports. "Looking forward to breaking ground on the @Tesla Shanghai Gigafactory today!" Musk wrote in a post on Twitter. Looking forward to breaking ground on the @Tesla Shanghai Gigafactory today! — Elon Musk (@elonmusk) January 7, 2019 × Musk has said previously he would attend the event in Shanghai. Tesla officials in China declined to comment. The carmaker, which currently imports US-made vehicles to sell in China, is building the plant in an auto market that is set to contract this year for the first time in decades, though so-called new-energy vehicle (NEV) sales have been strong. China raised the import tariff on US-made cars to 40 per cent in July, but cut it back to 15 per cent from the start of this year as part of a ceasefire in a trade war with the United States. The lower tariff will last until the end of March pending trade talks. A local plant will help Tesla lower prices in the market to compete with a new generation of local rivals including Nio Inc, Byton and XPeng Motors. "Affordable cars must be made on same continent as customers," Musk said in another tweet. "Shanghai Giga will produce affordable versions of 3/Y for greater China. All Model S/X & higher cost versions of Model 3/Y will still be built in US for WW market, incl China," he later added, referring to the worldwide market including China. Alan Kang, a Shanghai-based analyst for consultancy LMC Automotive, said: "Tesla's sales (in China) have dropped over the past few months because of high price caused by the tariffs. And the competition is getting more and more fierce." "With the construction of the Shanghai factory, the faster the better (for Tesla)," Kang said. CONSTRUCTION TARGETS Tesla has been pushing forward its plans for the plant after it secured the site in October, hiring staff, starting procurement for building materials and setting up a financial leasing company in the city. The so-called Gigafactory would also be China's first wholly foreign-owned car plant, a reflection of China's broader shift to open up its car market even amid the whipsawing trade war. Tesla plans to produce its Model 3 and Model Y cars in the initial phase of production at the Shanghai plant, with an annual capacity of 250,000 vehicles. "Aiming to finish initial construction this summer, start Model 3 production end of year & reach high volume production next year," Musk wrote in a separate post on Twitter. Aiming to finish initial construction this summer, start Model 3 production end of year & reach high volume production next year — Elon Musk (@elonmusk) January 7, 2019 × "Shanghai Giga production of Model 3/Y will serve greater China region," Musk added in another one. Shanghai Giga production of Model 3/Y will serve greater China region — Elon Musk (@elonmusk) January 7, 2019 × Shares in Chinese suppliers to Tesla, including Tianjin Motor Dies Co Ltd and VT Industrial Technology Co Ltd, rallied on Monday after Musk's comments. The Shanghai government last month said mayor Ying Yong had visited the site and urged Tesla to "accelerate" work on the factory. He said production would start to some degree in the second half of 2019. China is the largest market for electric vehicles, and most forecasters predict EV sales in the country will accelerate rapidly as the government drives toward a goal of 100 per cent electric vehicles by 2030.

Tesla CEO Musk says to break ground on Shanghai Gigafactory today

Tesla Inc on Friday named two independent board directors as part of a September deal with federal regulators to move past the turbulence following Chief Executive Officer <a href="http://www.wionews.com/world/elon-musk-and-his-social-media-debacles-in-2018-186779">Elon Musk</a>'s tweet about taking the electric carmaker private.

The company said Oracle Corp's founder Larry Ellison and Walgreens Boots Alliance's global head of human resources Kathleen Wilson-Thompson joined the board as independent directors, effective December 27.&nbsp;Ellison bought 3 million shares of Tesla earlier this year.

"In Larry and Kathleen, we have added a preeminent entrepreneur and a human resources leader, both of whom have a passion for sustainable energy," Tesla said.

Under an agreement with the US&nbsp;Securities and Exchange Commission, Musk agreed to pay a $20 million fine and step aside as Tesla's chairman for three years to settle charges that could have forced his exit.&nbsp;

Tesla also agreed to appoint an independent chairman, two independent directors and a board committee to control Musk's communications.

A US judge in October approved the deal resulting from Musk's August 7 tweets that he was considering taking the company private and had secured funding, which prompted the SEC to file fraud charges against him.

In November, Tesla named director Robyn Denholm as board chair, fulfilling one of the demands. She joined Tesla as an independent director in 2014 and agreed to step down from her job as finance chief of Australian telecoms firm Telstra Corp Ltd.

The stock dropped in September after the SEC accused Musk, 47, of fraud over his "false and misleading" tweets on August 7.

The company's shares were up 4 per cent at $330 in early trading on Friday.

Under an agreement with the US Securities and Exchange Commission, Musk agreed to pay a $20 million fine and step aside as Tesla's chairman for three years to settle charges that could have forced his exit.

Tesla Inc on Friday named two independent board directors as part of a September deal with federal regulators to move past the turbulence following Chief Executive Officer Elon Musk's tweet about taking the electric carmaker private. The company said Oracle Corp's founder Larry Ellison and Walgreens Boots Alliance's global head of human resources Kathleen Wilson-Thompson joined the board as independent directors, effective December 27. Ellison bought 3 million shares of Tesla earlier this year. "In Larry and Kathleen, we have added a preeminent entrepreneur and a human resources leader, both of whom have a passion for sustainable energy," Tesla said. Under an agreement with the US Securities and Exchange Commission, Musk agreed to pay a $20 million fine and step aside as Tesla's chairman for three years to settle charges that could have forced his exit. Tesla also agreed to appoint an independent chairman, two independent directors and a board committee to control Musk's communications. A US judge in October approved the deal resulting from Musk's August 7 tweets that he was considering taking the company private and had secured funding, which prompted the SEC to file fraud charges against him. In November, Tesla named director Robyn Denholm as board chair, fulfilling one of the demands. She joined Tesla as an independent director in 2014 and agreed to step down from her job as finance chief of Australian telecoms firm Telstra Corp Ltd. The stock dropped in September after the SEC accused Musk, 47, of fraud over his "false and misleading" tweets on August 7. The company's shares were up 4 per cent at $330 in early trading on Friday.

Tesla names Larry Ellison, Kathleen Wilson-Thompson to board as part of Musk-US settlement

Elon Musk, the man behind Tesla, SpaceX and PayPal has many plans.

Musk said in May this year that SpaceX would launch more orbital missions in 2018 than any nation on earth.

While his rocket company couldn't achieve that as China launched at least 35 rockets, Musk launched the Falcon heavy rocket, the world's most powerful operational launch vehicle which sent ripples through the industry. The rocket carried a spacesuit-clad dummy called Starman towards Mars orbit inside a red Tesla Roadster car.

But Musk likes to surprise, shock and stay in the news.

Earlier this year, he shocked the world by calling one of the Thai cave rescuers a paedophile. The tweet led Musk being slapped with a lawsuit. In August, he tweeted that he was taking Tesla private and that he had secured funds to do the same. But soon, it became clear that Musk had neither secured the funding nor had the regulatory approvals for it.

A month later, the Securities and Exchange Commission of US filed a lawsuit against him, leading Musk to pay a fine of $20 million and losing the chairmanship to his company. Musk's compulsive tweeting and erratic behaviour, which included smoking marijuana during a video interview, has raised concerns about his leadership, with several Wall Street analysts and some investors urging Tesla to appoint a strong second-in-command.

Then, in an interview with 60 Minutes recently, Musk said he does not respect the Securities and Exchange Commission.

But despite Musk's frequent firing sprees and difficult relationship with his employees, production delays and social media debacles, Tesla has managed to become a success story. Musk shut his critics when Tesla reported a net profit, positive cash flow and wider-than-expected margins in the third quarter, delivering on his promise to turn the electric carmaker profitable as higher production volumes of its new Model 3 began to pay off.

By the end of the year, Musk, despite his controversies, launched the SmallSat Express mission. With this single launch, SpaceX delivered 64 small satellites into orbit. Three of those satellites will track covert shipping, fishing, piracy, and other illegal activities on the ocean from space.

The mission, dubbed SSO-A, also marked the third voyage to space for the same Falcon 9 rocket - another milestone for SpaceX's cost-cutting reusable rocket technology.

And now, he has his eyes set on exploring the depths of space. He recently said that the next goal in space exploration is colonising "heavenly bodies" such as the Moon or "Mars and beyond".

Elon Musk, the man behind Tesla, SpaceX and PayPal has many plans. Musk said in May this year that SpaceX would launch more orbital missions in 2018 than any nation on earth.

Elon Musk, the man behind Tesla, SpaceX and PayPal has many plans. Musk said in May this year that SpaceX would launch more orbital missions in 2018 than any nation on earth. While his rocket company couldn't achieve that as China launched at least 35 rockets, Musk launched the Falcon heavy rocket, the world's most powerful operational launch vehicle which sent ripples through the industry. The rocket carried a spacesuit-clad dummy called Starman towards Mars orbit inside a red Tesla Roadster car. But Musk likes to surprise, shock and stay in the news. Earlier this year, he shocked the world by calling one of the Thai cave rescuers a paedophile. The tweet led Musk being slapped with a lawsuit. In August, he tweeted that he was taking Tesla private and that he had secured funds to do the same. But soon, it became clear that Musk had neither secured the funding nor had the regulatory approvals for it. A month later, the Securities and Exchange Commission of US filed a lawsuit against him, leading Musk to pay a fine of $20 million and losing the chairmanship to his company. Musk's compulsive tweeting and erratic behaviour, which included smoking marijuana during a video interview, has raised concerns about his leadership, with several Wall Street analysts and some investors urging Tesla to appoint a strong second-in-command. Then, in an interview with 60 Minutes recently, Musk said he does not respect the Securities and Exchange Commission. But despite Musk's frequent firing sprees and difficult relationship with his employees, production delays and social media debacles, Tesla has managed to become a success story. Musk shut his critics when Tesla reported a net profit, positive cash flow and wider-than-expected margins in the third quarter, delivering on his promise to turn the electric carmaker profitable as higher production volumes of its new Model 3 began to pay off. By the end of the year, Musk, despite his controversies, launched the SmallSat Express mission. With this single launch, SpaceX delivered 64 small satellites into orbit. Three of those satellites will track covert shipping, fishing, piracy, and other illegal activities on the ocean from space. The mission, dubbed SSO-A, also marked the third voyage to space for the same Falcon 9 rocket - another milestone for SpaceX's cost-cutting reusable rocket technology. And now, he has his eyes set on exploring the depths of space. He recently said that the next goal in space exploration is colonising "heavenly bodies" such as the Moon or "Mars and beyond".

Elon Musk and his social media debacles in 2018

A SpaceX rocket carrying a US military navigation satellite blasted off from Florida's Cape Canaveral on Sunday, marking the space transportation company's first national security space mission for the United States.

The Falcon 9 rocket carrying a roughly $500 million GPS satellite built by Lockheed Martin Corp lifted off from Cape Canaveral at 8:51 am local time. Four previous scheduled launches in the last week, including one on Saturday, were cancelled due to weather and technical issues.

The successful launch is a significant victory for billionaire Elon Musk's privately held rocket company, which has spent years trying to break into the lucrative market for military space launches dominated by Lockheed and Boeing Co.

SpaceX sued the U.S. Air Force in 2014 over the military's award of a multibillion-dollar, non-compete contract for 36 rocket launches to United Launch Alliance, a partnership of Boeing and Lockheed. It dropped the lawsuit in 2015 after the Air Force agreed to open up competition.

The next year, SpaceX won an $83 million Air Force contract to launch the GPS III satellite, which will have a lifespan of 15 years.

The satellite is the first to launch out of 32 in production by Lockheed under contracts worth a combined $12.6 billion for the Air Force GPS III program, according to Lockheed spokesman Chip Eschenfelder.

The launch was originally scheduled for 2014 but has been hobbled by production delays, the Air Force said.

The next GPS III satellite is due to launch in mid-2019, Eschenfelder said, while subsequent satellites undergo testing in the company's Colorado processing facility.

A SpaceX rocket carrying a US military navigation satellite blasted off from Florida's Cape Canaveral on Sunday, marking the space transportation company's first national security space mission for the United States.

A SpaceX rocket carrying a US military navigation satellite blasted off from Florida's Cape Canaveral on Sunday, marking the space transportation company's first national security space mission for the United States. The Falcon 9 rocket carrying a roughly $500 million GPS satellite built by Lockheed Martin Corp lifted off from Cape Canaveral at 8:51 am local time. Four previous scheduled launches in the last week, including one on Saturday, were cancelled due to weather and technical issues. The successful launch is a significant victory for billionaire Elon Musk's privately held rocket company, which has spent years trying to break into the lucrative market for military space launches dominated by Lockheed and Boeing Co. SpaceX sued the U.S. Air Force in 2014 over the military's award of a multibillion-dollar, non-compete contract for 36 rocket launches to United Launch Alliance, a partnership of Boeing and Lockheed. It dropped the lawsuit in 2015 after the Air Force agreed to open up competition. The next year, SpaceX won an $83 million Air Force contract to launch the GPS III satellite, which will have a lifespan of 15 years. The satellite is the first to launch out of 32 in production by Lockheed under contracts worth a combined $12.6 billion for the Air Force GPS III program, according to Lockheed spokesman Chip Eschenfelder. The launch was originally scheduled for 2014 but has been hobbled by production delays, the Air Force said. The next GPS III satellite is due to launch in mid-2019, Eschenfelder said, while subsequent satellites undergo testing in the company's Colorado processing facility.

SpaceX launches first US national security space mission

<a href="http://www.wionews.com/world/spacex-to-retry-launch-in-first-us-national-security-space-mission-185872">Elon Musk's SpaceX</a> scrapped Saturday's launch of a long-delayed navigation satellite for the US military due to strong upper-level winds.

The next launch attempt will be on Sunday at 8:51 am, according to Space X officials.

The launch, SpaceX's fourth attempt in a week after technical and weather delays, would have been the rocket firm's first national security space mission for the United States. Musk's rocket company has spent years trying to break into the lucrative market for military space launches long-dominated by Lockheed and Boeing Co.

SpaceX sued the US Air Force in 2014 in protest over the military's award of a multibillion-dollar, non-compete contract for 36 rocket launches to United Launch Alliance, a partnership of Boeing and Lockheed. It dropped the lawsuit in 2015 after the Air Force agreed to open up competition.

The next year, SpaceX won an $83 million Air Force contract to launch the GPS III satellite, which will have a lifespan of 15 years.

The launch would be the first of 32 satellites in production by Lockheed under contracts worth a combined $12.6 billion for the Air Force GPS III program, Lockheed spokesman Chip Eschenfelder said.

Air Force spokesman William Russell said: "Once fully operational, this latest generation of GPS satellites will bring new capabilities to users, including three times greater accuracy and up to eight times the anti-jamming capabilities."

The launch was originally scheduled for 2014 but has been hobbled by production delays, the Air Force said.

It would have marked SpaceX's first so-called National Security Space mission, as defined by the US military, SpaceX said.

The next GPS III satellite is due to launch in mid-2019, Eschenfelder said, while subsequent satellites undergo testing in the company's Colorado processing facility.

Elon Musk's SpaceX scrapped Saturday's launch of a long-delayed navigation satellite for the US military due to strong upper-level winds. The next launch attempt will be on Sunday at 8:51 am, according to Space X officials.

Elon Musk's SpaceX scrapped Saturday's launch of a long-delayed navigation satellite for the US military due to strong upper-level winds. The next launch attempt will be on Sunday at 8:51 am, according to Space X officials. The launch, SpaceX's fourth attempt in a week after technical and weather delays, would have been the rocket firm's first national security space mission for the United States. Musk's rocket company has spent years trying to break into the lucrative market for military space launches long-dominated by Lockheed and Boeing Co. SpaceX sued the US Air Force in 2014 in protest over the military's award of a multibillion-dollar, non-compete contract for 36 rocket launches to United Launch Alliance, a partnership of Boeing and Lockheed. It dropped the lawsuit in 2015 after the Air Force agreed to open up competition. The next year, SpaceX won an $83 million Air Force contract to launch the GPS III satellite, which will have a lifespan of 15 years. The launch would be the first of 32 satellites in production by Lockheed under contracts worth a combined $12.6 billion for the Air Force GPS III program, Lockheed spokesman Chip Eschenfelder said. Air Force spokesman William Russell said: "Once fully operational, this latest generation of GPS satellites will bring new capabilities to users, including three times greater accuracy and up to eight times the anti-jamming capabilities." The launch was originally scheduled for 2014 but has been hobbled by production delays, the Air Force said. It would have marked SpaceX's first so-called National Security Space mission, as defined by the US military, SpaceX said. The next GPS III satellite is due to launch in mid-2019, Eschenfelder said, while subsequent satellites undergo testing in the company's Colorado processing facility.

SpaceX halts launch of US military satellite due to winds

Billionaire <a href="http://www.wionews.com/world/elon-musks-boring-company-to-unveil-its-first-underground-tunnel-185202">Elon Musk</a>'s <a href="http://www.wionews.com/world/elon-musk-unveils-his-first-los-angeles-area-tunnel-185381">SpaceX</a> is scheduled on Saturday to launch a long-delayed US military navigation satellite, which if successful would mark the rocket company's first national security space mission for the United States.

A Falcon 9 rocket carrying a roughly $500 million GPS satellite built by Lockheed Martin Corp was due to blast off from Florida's Cape Canaveral around 9 am (1400 GMT), privately held SpaceX said.

<a href="http://www.wionews.com/world/spacex-launches-64-satellites-at-once-181346">A successful launch</a> - SpaceX's fourth attempt in a week after technical and weather delays - would be a significant victory for Musk's rocket company, which has spent years trying to break into the lucrative market for military space launches long-dominated by Lockheed and Boeing Co.

SpaceX sued the US Air Force in 2014 in protest over the military's award of a multibillion-dollar, non-compete contract for 36 rocket launches to United Launch Alliance, a partnership of Boeing and Lockheed. It dropped the lawsuit in 2015 after the Air Force agreed to open up the competition.

The next year, SpaceX won an $83 million Air Force contract to launch the GPS III satellite, which will have a lifespan of 15 years.

The launch would be the first of 32 satellites in production by Lockheed under contracts worth a combined $12.6 billion for the Air Force GPS III program, Lockheed spokesman Chip Eschenfelder said.

Air Force spokesman William Russell said: "Once fully operational, this latest generation of GPS satellites will bring new capabilities to users, including three times greater accuracy and up to eight times the anti-jamming capabilities."

The launch was originally scheduled for 2014 but has been hobbled by production delays, the Air Force said.

It would mark SpaceX's first so-called National Security Space mission, as defined by the US military, SpaceX said.

The next GPS III satellite is due to launch in mid-2019, Eschenfelder said, while subsequent satellites undergo testing in the company's Colorado processing facility.

Billionaire Elon Musk's SpaceX is scheduled on Saturday to launch a long-delayed US military navigation satellite, which if successful would mark the rocket company's first national security space mission for the United States.

Billionaire Elon Musk's SpaceX is scheduled on Saturday to launch a long-delayed US military navigation satellite, which if successful would mark the rocket company's first national security space mission for the United States. A Falcon 9 rocket carrying a roughly $500 million GPS satellite built by Lockheed Martin Corp was due to blast off from Florida's Cape Canaveral around 9 am (1400 GMT), privately held SpaceX said. A successful launch - SpaceX's fourth attempt in a week after technical and weather delays - would be a significant victory for Musk's rocket company, which has spent years trying to break into the lucrative market for military space launches long-dominated by Lockheed and Boeing Co. SpaceX sued the US Air Force in 2014 in protest over the military's award of a multibillion-dollar, non-compete contract for 36 rocket launches to United Launch Alliance, a partnership of Boeing and Lockheed. It dropped the lawsuit in 2015 after the Air Force agreed to open up the competition. The next year, SpaceX won an $83 million Air Force contract to launch the GPS III satellite, which will have a lifespan of 15 years. The launch would be the first of 32 satellites in production by Lockheed under contracts worth a combined $12.6 billion for the Air Force GPS III program, Lockheed spokesman Chip Eschenfelder said. Air Force spokesman William Russell said: "Once fully operational, this latest generation of GPS satellites will bring new capabilities to users, including three times greater accuracy and up to eight times the anti-jamming capabilities." The launch was originally scheduled for 2014 but has been hobbled by production delays, the Air Force said. It would mark SpaceX's first so-called National Security Space mission, as defined by the US military, SpaceX said. The next GPS III satellite is due to launch in mid-2019, Eschenfelder said, while subsequent satellites undergo testing in the company's Colorado processing facility.

SpaceX to retry launch in first US national security space mission

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