Elon Musk, the Tesla CEO, revealed during the quarterly earnings call of the company, that about <a href="https://www.wionews.com/science-tech/musk-hands-over-first-tesla-model-3-electric-cars-to-early-buyers-18373">63,000 people have cancelled their Model 3 pre-orders</a>. He added that the number of orders has decreased from 518,000 to 455,000 approximately.&nbsp;

Calling the figures &quot;inconsequential&quot;, Musk said that the company can shoot off the sales with a little effort, but currently, they are not able to satisfy the already placed orders.&nbsp;

&ldquo;Those cancellations occurred over the course of more than a year,&rdquo; Musk said.

&ldquo;I think these numbers&nbsp;are inconsequential. With a small amount of effort, we can easily drive the Model 3 reservation number to something much higher but there&rsquo;s no point. It&rsquo;s like if you&rsquo;re a restaurant and you&rsquo;re serving hamburgers and there&rsquo;s like an hour and a half wait for hamburgers do you really want to encourage more people to order more hamburgers?&rdquo; &nbsp;

The prospective customer&#39;s placing the order for Model 3&nbsp;today will not get the order before the end of next year(2018).

Tesla&nbsp;expects to manufacture 5000 Model 3 cars a week by the end of 2017 and later plans to expand&nbsp;the production to 10,000 cars per week by 2018.&nbsp;

On July 28, Tesla handed over the first 30 Model 3 cars to&nbsp;early buyers. Since then the company has averaged over 1,800 new Model 3 reservations per day.

&nbsp;

Tesla CEO said that the number of orders have decreased from 518,000 to 455,000 approximately

Elon Musk, the Tesla CEO, revealed during the quarterly earnings call of the company, that about 63,000 people have cancelled their Model 3 pre-orders. He added that the number of orders has decreased from 518,000 to 455,000 approximately. Calling the figures "inconsequential", Musk said that the company can shoot off the sales with a little effort, but currently, they are not able to satisfy the already placed orders. “Those cancellations occurred over the course of more than a year,” Musk said. “I think these numbers are inconsequential. With a small amount of effort, we can easily drive the Model 3 reservation number to something much higher but there’s no point. It’s like if you’re a restaurant and you’re serving hamburgers and there’s like an hour and a half wait for hamburgers do you really want to encourage more people to order more hamburgers?” The prospective customer's placing the order for Model 3 today will not get the order before the end of next year(2018). Tesla expects to manufacture 5000 Model 3 cars a week by the end of 2017 and later plans to expand the production to 10,000 cars per week by 2018. On July 28, Tesla handed over the first 30 Model 3 cars to early buyers. Since then the company has averaged over 1,800 new Model 3 reservations per day.

Over 60,000 orders of Tesla Model 3 cancelled: Musk

The highly anticipated Tesla Model 3 launch&nbsp;will be held tonight where a few lucky winners will be handed over the all new Tesla Model 3.&nbsp;

With a range of 215 miles&nbsp;per charge, the premium sedan has a starting price of $35,000 before incentives.

The car is installed with autopilot hardware and has a comfortable seating for five adults.

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Setting up for Model 3 handover tomorrow night ... <a href="https://t.co/gcnZ5jTjyR">https://t.co/gcnZ5jTjyR</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/890830152124563457">July 28, 2017</a></blockquote>
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Designed significantly smaller and better than Model S, Model 3 is expected to come with a charging screen.&nbsp;

The car is central to Tesla chief Executive Elon Musk&#39;s vision of &quot;humanity saving alternative energy&quot;. He aims to develop electric cars with solar roofs.&nbsp;

Model 3 is built with the highest 5-star safety ratings.&nbsp;Tesla will add Model 3 to its online design studio, reports say.&nbsp;

The estimated delivery for further reservation is expected to come in mid-2018 or later.&nbsp;

&nbsp;

 
&nbsp;

&nbsp;

With a range of 215 miles?per charge, the premium sedan has a starting price of $35,000 before incentives

The highly anticipated Tesla Model 3 launch will be held tonight where a few lucky winners will be handed over the all new Tesla Model 3. With a range of 215 miles per charge, the premium sedan has a starting price of $35,000 before incentives. The car is installed with autopilot hardware and has a comfortable seating for five adults. Setting up for Model 3 handover tomorrow night ... https://t.co/gcnZ5jTjyR — Elon Musk (@elonmusk) July 28, 2017 × Designed significantly smaller and better than Model S, Model 3 is expected to come with a charging screen. The car is central to Tesla chief Executive Elon Musk's vision of "humanity saving alternative energy". He aims to develop electric cars with solar roofs. Model 3 is built with the highest 5-star safety ratings. Tesla will add Model 3 to its online design studio, reports say. The estimated delivery for further reservation is expected to come in mid-2018 or later.

Musk's launch: Lucky winners to drive Tesla Model 3

Visionary entrepreneur Elon Musk and Facebook chief Mark Zuckerberg were trading jabs on social media over artificial intelligence this week in a debate that has turned personal between the two technology luminaries.

Musk, the founder of Tesla, SpaceX and other ventures, on Tuesday claimed Zuckerberg&#39;s knowledge of artificial intelligence was &quot;limited,&quot; two days after the Facebook founder described &quot;naysayers&quot; as &quot;irresponsible.&quot;

The debate underscored the rift in the tech community on whether new technologies capable of creating intelligent machines like robots and self-driving cars would be a blessing or a curse for humanity.

Musk has long warned of the potential for machines to get so smart that humans become tantamount to pets, while Zuckerberg has touted the potential for artificial intelligence to improve lives.

Facebook is among the Silicon Valley&#39;s largest investors in artificial intelligence.

While live streaming on the leading social network from his yard on Sunday, Zuckerberg touched on the topic while answering questions from viewers.

&quot;With AI especially, I am really optimistic,&quot; Zuckerberg said.

&quot;And I think people who are naysayers and try to drum up these doomsday scenarios -- &nbsp;I just, I don&#39;t understand it. It&#39;s really negative and in some ways I actually think it is pretty irresponsible.&quot;

When asked about Zuckerberg&#39;s comment early Tuesday during an exchange on Twitter, Musk wrote that he has discussed the topic with Zuckerberg and that &quot;his understanding of the subject is limited.&quot;

Musk more than a year ago took part in creating a nonprofit research company devoted to developing artificial intelligence that will help people and not hurt them.

People pets

&quot;If we create some digital super-intelligence that exceeds us in every way by a lot, it is very important that it be benign,&quot; Musk said a while back at a conference in California.

He reasoned that even a benign situation with ultra-intelligent AI would put people so far beneath the machine they would be &quot;like a house cat.&quot;

&quot;I don&#39;t love the idea of being a house cat,&quot; Musk said, envisioning the creation of neural lacing that magnifies people&#39;s brain power by linking them directly to computing capabilities.

At a gathering of US governors this month, Musk contended that artificial intelligence &nbsp;is a terrifying problem and a threat to human civilization.

He argued for the technology to be regulated sooner rather than later for risk of safeguards being put in place too late.

Smart machines could start wars or kill people in streets, Musk has warned.

Musk is also behind a startup devoted to neural lace that would enable brains to interface directly with computers.

Such a &quot;Neuralink&quot; would have the potential to level the playing field a bit by enabling people to directly access processing power and perhaps even download memories for storage.

Zuckerberg last year created his own personal &quot;butler&quot; imbued with artificial intelligence, named Jarvis, which plays with his family.

This comes two days after the Facebook founder described 'naysayers' as 'irresponsible'

Visionary entrepreneur Elon Musk and Facebook chief Mark Zuckerberg were trading jabs on social media over artificial intelligence this week in a debate that has turned personal between the two technology luminaries. Musk, the founder of Tesla, SpaceX and other ventures, on Tuesday claimed Zuckerberg's knowledge of artificial intelligence was "limited," two days after the Facebook founder described "naysayers" as "irresponsible." The debate underscored the rift in the tech community on whether new technologies capable of creating intelligent machines like robots and self-driving cars would be a blessing or a curse for humanity. Musk has long warned of the potential for machines to get so smart that humans become tantamount to pets, while Zuckerberg has touted the potential for artificial intelligence to improve lives. Facebook is among the Silicon Valley's largest investors in artificial intelligence. While live streaming on the leading social network from his yard on Sunday, Zuckerberg touched on the topic while answering questions from viewers. "With AI especially, I am really optimistic," Zuckerberg said. "And I think people who are naysayers and try to drum up these doomsday scenarios -- I just, I don't understand it. It's really negative and in some ways I actually think it is pretty irresponsible." When asked about Zuckerberg's comment early Tuesday during an exchange on Twitter, Musk wrote that he has discussed the topic with Zuckerberg and that "his understanding of the subject is limited." Musk more than a year ago took part in creating a nonprofit research company devoted to developing artificial intelligence that will help people and not hurt them. People pets "If we create some digital super-intelligence that exceeds us in every way by a lot, it is very important that it be benign," Musk said a while back at a conference in California. He reasoned that even a benign situation with ultra-intelligent AI would put people so far beneath the machine they would be "like a house cat." "I don't love the idea of being a house cat," Musk said, envisioning the creation of neural lacing that magnifies people's brain power by linking them directly to computing capabilities. At a gathering of US governors this month, Musk contended that artificial intelligence is a terrifying problem and a threat to human civilization. He argued for the technology to be regulated sooner rather than later for risk of safeguards being put in place too late. Smart machines could start wars or kill people in streets, Musk has warned. Musk is also behind a startup devoted to neural lace that would enable brains to interface directly with computers. Such a "Neuralink" would have the potential to level the playing field a bit by enabling people to directly access processing power and perhaps even download memories for storage. Zuckerberg last year created his own personal "butler" imbued with artificial intelligence, named Jarvis, which plays with his family.

Mark Zuckeberg's knowledge of artificial intelligence 'limited': Elon Musk

US entrepreneur Elon Musk said Thursday he&#39;d received tentative approval from the government to build a conceptual &quot;hyperloop&quot; system that would blast passenger pods down vacuum-sealed tubes from New York to Washington at near supersonic speeds.

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Just received verbal govt approval for The Boring Company to build an underground NY-Phil-Balt-DC Hyperloop. NY-DC in 29 mins.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/888053175155949572">July 20, 2017</a></blockquote>
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&quot;Just received verbal govt approval for The Boring Company to build an underground NY-Phil-Balt-DC Hyperloop. NY-DC in 29 mins,&quot; the flamboyant CEO of Tesla and SpaceX tweeted, using abbreviations for New York, Philadelphia, Baltimore and Washington DC.

New York and Washington are separated by some 330 kilometers (200 miles) -- currently an approximately three-hour journey by train or one hour and 15 minutes flying. The US Department of Transportation forwarded queries for comment to the White House, which offered a statement that neither confirmed nor outright dismissed the bombastic announcement.

&quot;We have had promising conversations to date, are committed to transformative infrastructure projects, and believe our greatest solutions have often come from the ingenuity and drive of the private sector,&quot; the statement said.

&nbsp;

Indian engineers

One team from the Indian state of Kerala has been competing against 23 other teams in the world to&nbsp;develop a prototype called the Orcapod since May of this year, which attempts to use the hyperloop technology&nbsp;to theoretically reach speeds up to 460 kilometres an hour, <a href="http://www.thehindu.com/news/cities/bangalore/hyperloop-india-gasping-for-funds/article19285845.ece" target="_blank">The Hindu&nbsp;</a>reports. The 25-member team has been&nbsp;contesting&nbsp;in California&#39;s SpaceX&nbsp;competition, and has been&nbsp;struggling for funds.

The Kerala team is the only team from India selection in the competition.

&nbsp;

Public implementation&nbsp;

Before the public gets too excited about this technology&#39;s immediate implementation, experts&nbsp;said the proposed system would likely require approvals from numerous departments as well as local and state authorities before construction work could begin.

Facing a barrage of skepticism, Musk, who has been known to over-promise in his announcements, clarified: &quot;Still a lot of work needed to receive formal approval, but am optimistic that will occur rapidly,&quot; urging people to lobby their representatives.

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If you want this to happen fast, please let your local &amp; federal elected representatives know. Makes a big difference if they hear from you.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/888136631672340480">July 20, 2017</a></blockquote>
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Musk&#39;s involvement in the proposed project is for now limited to building the tunnels, and it is not yet clear which firm he plans to partner with to handle the pod vehicles.

But several companies are now exploring the market, including Northeast Maglev, Hyperloop One and Hyperloop Transportation Technologies.

Beyond the Hyperloop system, Musk has made plans to send two private citizens around the Moon and land an unmanned spacecraft on Mars by 2020. Earlier this month he vowed to build the world&#39;s largest battery in Australia with a 100 megawatt-hour capacity, or enough to power 30,000 homes.

(WIth agency inputs)

One Kerala team is competing to create a prototype that would blast travellers in pods down vacuum-sealed tubes at near-supersonic speeds

US entrepreneur Elon Musk said Thursday he'd received tentative approval from the government to build a conceptual "hyperloop" system that would blast passenger pods down vacuum-sealed tubes from New York to Washington at near supersonic speeds. Just received verbal govt approval for The Boring Company to build an underground NY-Phil-Balt-DC Hyperloop. NY-DC in 29 mins. — Elon Musk (@elonmusk) July 20, 2017 × "Just received verbal govt approval for The Boring Company to build an underground NY-Phil-Balt-DC Hyperloop. NY-DC in 29 mins," the flamboyant CEO of Tesla and SpaceX tweeted, using abbreviations for New York, Philadelphia, Baltimore and Washington DC. New York and Washington are separated by some 330 kilometers (200 miles) -- currently an approximately three-hour journey by train or one hour and 15 minutes flying. The US Department of Transportation forwarded queries for comment to the White House, which offered a statement that neither confirmed nor outright dismissed the bombastic announcement. "We have had promising conversations to date, are committed to transformative infrastructure projects, and believe our greatest solutions have often come from the ingenuity and drive of the private sector," the statement said. Indian engineers One team from the Indian state of Kerala has been competing against 23 other teams in the world to develop a prototype called the Orcapod since May of this year, which attempts to use the hyperloop technology to theoretically reach speeds up to 460 kilometres an hour, The Hindu reports. The 25-member team has been contesting in California's SpaceX competition, and has been struggling for funds. The Kerala team is the only team from India selection in the competition. Public implementation Before the public gets too excited about this technology's immediate implementation, experts said the proposed system would likely require approvals from numerous departments as well as local and state authorities before construction work could begin. Facing a barrage of skepticism, Musk, who has been known to over-promise in his announcements, clarified: "Still a lot of work needed to receive formal approval, but am optimistic that will occur rapidly," urging people to lobby their representatives. If you want this to happen fast, please let your local & federal elected representatives know. Makes a big difference if they hear from you. — Elon Musk (@elonmusk) July 20, 2017 × Musk's involvement in the proposed project is for now limited to building the tunnels, and it is not yet clear which firm he plans to partner with to handle the pod vehicles. But several companies are now exploring the market, including Northeast Maglev, Hyperloop One and Hyperloop Transportation Technologies. Beyond the Hyperloop system, Musk has made plans to send two private citizens around the Moon and land an unmanned spacecraft on Mars by 2020. Earlier this month he vowed to build the world's largest battery in Australia with a 100 megawatt-hour capacity, or enough to power 30,000 homes. (WIth agency inputs)

Hyperloop or hyperbole? Tesla's Musk promises 330 km journey in 29 minutes

Tesla Chief Executive Elon Musk announced that production of its mass-market Model 3 would start this week.

Most investors are focused on the outlook for the Model 3, and some analysts have been sceptical about its planned July launch after production delays and quality issues marred the launches of the Model S and Model X.

Tesla&#39;s shares are up by more than 60 per cent this year, partly on expectations of a strong launch for its Model 3, the first car the company has aimed at the mass market. Tesla has a market value of $58 billion, greater than either General Motors or Ford Motor.

In a series of posts on Twitter, Musk said the Model 3 had passed all regulatory requirements for production two weeks ahead of schedule.

&quot;Production grows exponentially, so Aug should be 100 cars and Sept above 1,500,&quot; Musk said. &quot;Looks like we can reach 20,000 Model 3 cars per month in Dec.&quot;

That is in line with targets Tesla previously set, of more than 5,000 Model 3s per week by the end of this year and 10,000 vehicles per week &#39;at some point in 2018&#39;.

Musk said he expected SN1, the first car off the assembly line for sale, to be completed by 7 July.

Tesla has taken deposits on more than 300,000 Model 3s, starting at $35,000 a vehicle. Its popularity stands out as major US automakers face a downturn. GM and Ford both reported lower sales for June.

The Model 3 marks a turning point for Tesla as it transitions from a niche luxury car manufacturer to a mass producer. The 500,000 vehicles the company plans to make next year is nearly six times its 2016 production.

As per previous reports, Tesla shut down production at its California assembly plant for a week to prepare for production of the Model 3 sedan, in order to meet its target of starting production in July.

Production of its mass-market Model 3 would start this week and build up to 20,000 per month in December

Tesla Chief Executive Elon Musk announced that production of its mass-market Model 3 would start this week. Most investors are focused on the outlook for the Model 3, and some analysts have been sceptical about its planned July launch after production delays and quality issues marred the launches of the Model S and Model X. Tesla's shares are up by more than 60 per cent this year, partly on expectations of a strong launch for its Model 3, the first car the company has aimed at the mass market. Tesla has a market value of $58 billion, greater than either General Motors or Ford Motor. In a series of posts on Twitter, Musk said the Model 3 had passed all regulatory requirements for production two weeks ahead of schedule. "Production grows exponentially, so Aug should be 100 cars and Sept above 1,500," Musk said. "Looks like we can reach 20,000 Model 3 cars per month in Dec." That is in line with targets Tesla previously set, of more than 5,000 Model 3s per week by the end of this year and 10,000 vehicles per week 'at some point in 2018'. Musk said he expected SN1, the first car off the assembly line for sale, to be completed by 7 July. Tesla has taken deposits on more than 300,000 Model 3s, starting at $35,000 a vehicle. Its popularity stands out as major US automakers face a downturn. GM and Ford both reported lower sales for June. The Model 3 marks a turning point for Tesla as it transitions from a niche luxury car manufacturer to a mass producer. The 500,000 vehicles the company plans to make next year is nearly six times its 2016 production. As per previous reports, Tesla shut down production at its California assembly plant for a week to prepare for production of the Model 3 sedan, in order to meet its target of starting production in July.

Tesla starts Model 3 production

SpaceX wants to expand facilities in Florida to refurbish and store its reusable rocket boosters as it increases the pace of launches.

The privately owned rocket company, operated by entrepreneur Elon Musk, proposes building a 67,222-square-foot (6,245-square meter) hangar just south of its Cape Canaveral launch sites to prepare recovered Falcon boosters for reflight.

The Port Canaveral Board of Commissioners is scheduled to consider SpaceX&#39;s proposed lease.

Since successfully landing its first Falcon rocket in December 2015, SpaceX has successfully returned boosters 12 more times on drone barges floating in the ocean or on a landing pad on the ground. Two of those boosters were refurbished and relaunched on second satellite-delivery missions.

SpaceX in March took over a spacecraft processing facility at Port Canaveral that once was used to prepare Spacehab science and equipment modules for flight aboard NASA&#39;s now-retired space shuttles. The new lease is for 2.2 acres of vacant land adjacent to the Spacehab building.

The hangar that SpaceX wants to build there will be used for rocket refurbishment and storage, company spokesman John Taylor said. The old Spacehab building will be used for offices, rocket storage and to house equipment currently positioned at the dock where SpaceX&rsquo;s floating landing pad returns from sea, Taylor said.

&quot;Right now, we have that work dispersed at Kennedy Space Center and Cape Canaveral Air Force Station. This will allow us to consolidate and work more efficiently,&quot; Taylor said.

SpaceX operates two launch sites in Florida, though one remains out of service following a September 2016 accident that destroyed a $62 million rocket, a $200 million communications satellite and heavily damaged the launch pad. Repairs are underway and SpaceX expects to resume flights from the pad, located at Cape Canaveral Air Force Station, later this year.

The California-based firm uses the space shuttle&#39;s old launch pads at Kennedy Space Center in Florida, just north of the Air Force base. It also has a launch site at Vandenberg Air Force Base in California and is building a launch site near Brownsville, Texas.

The company is preparing for its 10th flight of the year, and third launch in nine days, on Sunday. SpaceX has a backlog of more than 70 missions, worth more than $10 billion, spokesman Taylor said.

SpaceX wants to refurbish and store its reusable rocket boosters as it increases the pace of launches

SpaceX wants to expand facilities in Florida to refurbish and store its reusable rocket boosters as it increases the pace of launches. The privately owned rocket company, operated by entrepreneur Elon Musk, proposes building a 67,222-square-foot (6,245-square meter) hangar just south of its Cape Canaveral launch sites to prepare recovered Falcon boosters for reflight. The Port Canaveral Board of Commissioners is scheduled to consider SpaceX's proposed lease. Since successfully landing its first Falcon rocket in December 2015, SpaceX has successfully returned boosters 12 more times on drone barges floating in the ocean or on a landing pad on the ground. Two of those boosters were refurbished and relaunched on second satellite-delivery missions. SpaceX in March took over a spacecraft processing facility at Port Canaveral that once was used to prepare Spacehab science and equipment modules for flight aboard NASA's now-retired space shuttles. The new lease is for 2.2 acres of vacant land adjacent to the Spacehab building. The hangar that SpaceX wants to build there will be used for rocket refurbishment and storage, company spokesman John Taylor said. The old Spacehab building will be used for offices, rocket storage and to house equipment currently positioned at the dock where SpaceX’s floating landing pad returns from sea, Taylor said. "Right now, we have that work dispersed at Kennedy Space Center and Cape Canaveral Air Force Station. This will allow us to consolidate and work more efficiently," Taylor said. SpaceX operates two launch sites in Florida, though one remains out of service following a September 2016 accident that destroyed a $62 million rocket, a $200 million communications satellite and heavily damaged the launch pad. Repairs are underway and SpaceX expects to resume flights from the pad, located at Cape Canaveral Air Force Station, later this year. The California-based firm uses the space shuttle's old launch pads at Kennedy Space Center in Florida, just north of the Air Force base. It also has a launch site at Vandenberg Air Force Base in California and is building a launch site near Brownsville, Texas. The company is preparing for its 10th flight of the year, and third launch in nine days, on Sunday. SpaceX has a backlog of more than 70 missions, worth more than $10 billion, spokesman Taylor said.

SpaceX plans expansion of rocket refurbishing facilities in Florida

Tesla Inc Chief Executive Officer Elon Musk and Walt Disney Co CEO Robert Iger said on Thursday they would leave White House advisory councils after US President Donald Trump said he would withdraw from the Paris climate accord.

Trump decided to pull the United States from the landmark 2015 global agreement designed to fight climate change despite entreaties from U.S. allies and corporate leaders in an action that fulfilled a major campaign pledge.&nbsp;

&quot;Climate change is real. Leaving Paris is not good for America or the world,&quot; Musk said in a Twitter post.

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Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/870369915894546432">June 1, 2017</a></blockquote>
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He is a member of the President&rsquo;s Strategic and Policy Forum, a business advisory group, and Trump&#39;s manufacturing jobs council.&nbsp;

Musk said on Wednesday that he had done &quot;all I can&quot; to convince Trump to stay in the accord, and threatened to leave the presidential advisory councils if Trump announced a US exit from the accord.

Iger wrote on Twitter that &quot;as a matter of principle, I&#39;ve resigned from the President&#39;s Council over the #ParisAgreement withdrawal.&quot; He is leaving the business advisory group.

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As a matter of principle, I&#39;ve resigned from the President&#39;s Council over the <a href="https://twitter.com/hashtag/ParisAgreement?src=hash">#ParisAgreement</a> withdrawal.
&mdash; Robert Iger (@RobertIger) <a href="https://twitter.com/RobertIger/status/870413002893254656">June 1, 2017</a></blockquote>
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Uber Technologies Inc CEO Travis Kalanick quit the business advisory council in February amid pressure from activists and employees who opposed the administration&#39;s immigration policies.

Trump created the business advisory group in December before taking office to assist him in making policy decisions.

The group is led by Stephen Schwarzman, chief executive of Blackstone Group LP and includes Indra Nooyi, the chief executive of PepsiCo Inc and Jamie Dimon, chief executive of JPMorgan Chase &amp; Co .

Late on Thursday, BlackRock Inc Chief Executive Larry Fink said he would continue to serve on Trump&#39;s CEO Forum, despite reservations about the White House decision to withdraw from the Paris accord.&nbsp;

&quot;I accepted the invitation to serve on the President&#39;s CEO Forum because I believe I can contribute to the policy dialogue in Washington and serve as a voice for investors,&quot; Fink said in a statement.&nbsp;

&quot;I am a strong believer that our industry needs to have a voice with governments around the world,&quot; said Fink, whose company is the world&#39;s largest asset manager, with $5.4 trillion under management.

&quot;I do not agree with all of the president&#39;s policies and decisions, including today`s announcement to exit the U.S. from the Paris Agreement which I believe is a critical step forward in addressing climate change.&quot;

Asked about Musk&#39;s resignation, Commerce Secretary Wilbur Ross told Fox News that &quot;anybody who read the agreement and understood it would realize that this was not really about climate, this was about US money going to other countries and it didn&rsquo;t solve the climate problem.&quot;

Musk has met with Trump several times and spoken with him about the long-term goal of his company SpaceX for flights to Mars carrying humans.

The White House is planning to a hold a meeting with technology leaders on June 19, an administration spokesman said Wednesday.

General Motors Co said Chief Executive Officer Mary Barra would remain on the presidential advisory panel, adding that her participation &quot;provides GM a seat at an important table to contribute to a constructive dialogue about key policy issues.&quot;

In 2013, GM signed a declaration joining other major companies arguing that responding to climate change was good business. The automaker said on Thursday that despite the withdrawal it &quot;will not waver from our commitment to the environment.&quot;

It was unclear whether Ford Motor Co&#39;s new chief executive, James Hackett, would join Trump&#39;s panel.&nbsp;

Ford spokeswoman Christin Baker said on Thursday the No.2 US&nbsp;automaker believes &quot;climate change is real, and remain deeply committed to reducing greenhouse gas emissions in our vehicles and our facilities.&quot;

(Reuters)

Walt Disney Co CEO Robet Iger and Tesla Inc Chief Executive Officer Elon Musk said they were leaving White House advisory councils after Trump 's decision to pull out of the Paris climate accord

Tesla Inc Chief Executive Officer Elon Musk and Walt Disney Co CEO Robert Iger said on Thursday they would leave White House advisory councils after US President Donald Trump said he would withdraw from the Paris climate accord. Trump decided to pull the United States from the landmark 2015 global agreement designed to fight climate change despite entreaties from U.S. allies and corporate leaders in an action that fulfilled a major campaign pledge. "Climate change is real. Leaving Paris is not good for America or the world," Musk said in a Twitter post. Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world. — Elon Musk (@elonmusk) June 1, 2017 × He is a member of the President’s Strategic and Policy Forum, a business advisory group, and Trump's manufacturing jobs council. Musk said on Wednesday that he had done "all I can" to convince Trump to stay in the accord, and threatened to leave the presidential advisory councils if Trump announced a US exit from the accord. Iger wrote on Twitter that "as a matter of principle, I've resigned from the President's Council over the #ParisAgreement withdrawal." He is leaving the business advisory group. As a matter of principle, I've resigned from the President's Council over the #ParisAgreement withdrawal. — Robert Iger (@RobertIger) June 1, 2017 × Uber Technologies Inc CEO Travis Kalanick quit the business advisory council in February amid pressure from activists and employees who opposed the administration's immigration policies. Trump created the business advisory group in December before taking office to assist him in making policy decisions. The group is led by Stephen Schwarzman, chief executive of Blackstone Group LP and includes Indra Nooyi, the chief executive of PepsiCo Inc and Jamie Dimon, chief executive of JPMorgan Chase & Co . Late on Thursday, BlackRock Inc Chief Executive Larry Fink said he would continue to serve on Trump's CEO Forum, despite reservations about the White House decision to withdraw from the Paris accord. "I accepted the invitation to serve on the President's CEO Forum because I believe I can contribute to the policy dialogue in Washington and serve as a voice for investors," Fink said in a statement. "I am a strong believer that our industry needs to have a voice with governments around the world," said Fink, whose company is the world's largest asset manager, with $5.4 trillion under management. "I do not agree with all of the president's policies and decisions, including today`s announcement to exit the U.S. from the Paris Agreement which I believe is a critical step forward in addressing climate change." Asked about Musk's resignation, Commerce Secretary Wilbur Ross told Fox News that "anybody who read the agreement and understood it would realize that this was not really about climate, this was about US money going to other countries and it didn’t solve the climate problem." Musk has met with Trump several times and spoken with him about the long-term goal of his company SpaceX for flights to Mars carrying humans. The White House is planning to a hold a meeting with technology leaders on June 19, an administration spokesman said Wednesday. General Motors Co said Chief Executive Officer Mary Barra would remain on the presidential advisory panel, adding that her participation "provides GM a seat at an important table to contribute to a constructive dialogue about key policy issues." In 2013, GM signed a declaration joining other major companies arguing that responding to climate change was good business. The automaker said on Thursday that despite the withdrawal it "will not waver from our commitment to the environment." It was unclear whether Ford Motor Co's new chief executive, James Hackett, would join Trump's panel. Ford spokeswoman Christin Baker said on Thursday the No.2 US automaker believes "climate change is real, and remain deeply committed to reducing greenhouse gas emissions in our vehicles and our facilities." (Reuters)

Iger, Musk to quit Trump advisory councils after Paris accord decision

Tesla founder and technology luminary Elon Musk said Wednesday he would quit President Donald Trump&#39;s business advisory councils if Washington pulls out of the Paris climate accord.

Musk&#39;s move, announced on Twitter, could deepen the rift between the tech world and the Trump administration, which have been at odds over immigration and other issues.

The comments came after media reports said Trump would withdraw from the global agreement to curb emissions. The White House did not confirm the report, and Trump himself tweeted that he would announce a decision in the &quot;next few days.&quot;

Musk indicated that he had been trying to persuade Trump to remain part of the climate agreement.

&quot;Don&#39;t know which way Paris will go, but I&#39;ve done all I can to advise directly to POTUS, through others in WH &amp; via councils, that we remain,&quot; the founder of &nbsp;electric carmaker Tesla and the private space exploration firm SpaceX tweeted.

Asked by another Twitter user what a decision to withdraw would mean, Musk answered, &quot;Will have no choice but to depart councils in that case.&quot;

Musk has been among the few from tech sector to work with the Trump administration, participating in the president&#39;s Economic Advisory Board&nbsp;and Manufacturing Jobs Initiative.&nbsp;

In February, Uber chief Travis Kalanick quit the economic panel, saying his presence had been viewed as an endorsement of the Trump administration.

Musk, who has also faced criticism for working with Trump, stated in February that his participation &quot;does not mean that I agree with actions by the Administration.&quot;

(AFP)

The Tesla founder is a part of US President Donald Trump's business advisory councils

Tesla founder and technology luminary Elon Musk said Wednesday he would quit President Donald Trump's business advisory councils if Washington pulls out of the Paris climate accord. Musk's move, announced on Twitter, could deepen the rift between the tech world and the Trump administration, which have been at odds over immigration and other issues. The comments came after media reports said Trump would withdraw from the global agreement to curb emissions. The White House did not confirm the report, and Trump himself tweeted that he would announce a decision in the "next few days." Musk indicated that he had been trying to persuade Trump to remain part of the climate agreement. "Don't know which way Paris will go, but I've done all I can to advise directly to POTUS, through others in WH & via councils, that we remain," the founder of electric carmaker Tesla and the private space exploration firm SpaceX tweeted. Asked by another Twitter user what a decision to withdraw would mean, Musk answered, "Will have no choice but to depart councils in that case." Musk has been among the few from tech sector to work with the Trump administration, participating in the president's Economic Advisory Board and Manufacturing Jobs Initiative. In February, Uber chief Travis Kalanick quit the economic panel, saying his presence had been viewed as an endorsement of the Trump administration. Musk, who has also faced criticism for working with Trump, stated in February that his participation "does not mean that I agree with actions by the Administration." (AFP)

Musk to quit advisory if Trump pulls out of Paris climate pact

Elon Musk paused while chatting about his series of potentially world-changing endeavours to say he isn&#39;t in it to provide salvation. It was during a talk at a prestigious TED Conference in Vancouver, where the tech entrepreneur was discussing his ventures building electric cars and trucks, rockets, a newly launched tunnel-boring company and even dabbling with super-fast mass transit.

&quot;I&#39;m not trying to be anyone&#39;s saviour,&quot; Musk said while discussing colonising Mars and other dreams. &quot;I am just trying to think about the future and not be sad.&quot;

&quot;You&#39;ll tell me if it ever starts getting genuinely insane, right?&quot;&nbsp;the Silicon Valley star known for turning his passions into visionary enterprises added playfully.

Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electric cars.

Describing the vehicle as powerful enough to tow a regular big rig up a hill, he said it would handle like a sports car. 
&quot;When I was driving the test prototype for the first truck, it was really weird,&quot; he said. &quot;I thought, &#39;This is crazy!&#39; driving this large truck and it&#39;s doing these amazing maneuvers.&quot;
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Racing a snail

A founder of the PayPal online payment system as well as Tesla and SpaceX - the maker and launcher of rockets and spacecraft - Musk is also working on building tunnels more efficiently at his aptly named Boring company.

Describing traffic jams as &quot;soul-crushing,&quot; he said they could be eliminated by building multi-level tunnel networks for cars.

His company is already trying to bore tunnels under Los Angeles, he said.

The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels, he added. His machines would build small-bore tunnels &quot;faster than Gary,&quot; in what he said would be a major, cost-saving advance.

A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way.

Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several years ago, inviting entrepreneurs to make it real.

In his vision, Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boring company.

But Musk devotes only two or three percent of his time to the Boring company, he said, calling it more of a hobby -- and boasting that it is nevertheless making good progress.

Wary of flying cars

Although he also admires flying innovations - witnessed by his SpaceX endeavours - Musk isn&#39;t keen on the idea of cars in the sky.

&quot;If there were a whole bunch of flying cars going all over the place, that&#39;s not an anxiety-reducing situation,&quot; he quipped.

&quot;You&#39;re thinking, &#39;Did they service their hub cap, or is it going to come off and guillotine me?&#39;&quot;

Speaking tech to power

Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electric cars.

With his first lithium battery Gigafactory ramping production in the United States, he revealed that he would announce plans later this year for as many as four more facilities &quot;to address the global market.&quot;

Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump.

They meet approximately once a month and essentially consist of going around a room asking opinions.

&quot;I have used them thus far to argue in favour of immigration and in favour of (addressing) climate change,&quot; he said. 
&quot;That wasn&#39;t on the agenda before,&quot; he added. &quot;Maybe nothing will happen, but at least the words were said.&quot;

One of Musk&#39;s latest big ideas is to send space tourists on trips around the moon.

&quot;There have to be reasons you get up in the morning and want to live,&quot; he said of pursuing big dreams such as space exploration.

&quot;If the future doesn&#39;t include being out there in the stars, being a multi-planet species, that is incredibly depressing.&quot;

(AFP)

Musk also teases the audience with a photo of a self-driving truck at a prestigious TED Conference in Vancouver

Elon Musk paused while chatting about his series of potentially world-changing endeavours to say he isn't in it to provide salvation. It was during a talk at a prestigious TED Conference in Vancouver, where the tech entrepreneur was discussing his ventures building electric cars and trucks, rockets, a newly launched tunnel-boring company and even dabbling with super-fast mass transit. "I'm not trying to be anyone's saviour," Musk said while discussing colonising Mars and other dreams. "I am just trying to think about the future and not be sad." "You'll tell me if it ever starts getting genuinely insane, right?" the Silicon Valley star known for turning his passions into visionary enterprises added playfully. Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electric cars. Describing the vehicle as powerful enough to tow a regular big rig up a hill, he said it would handle like a sports car. "When I was driving the test prototype for the first truck, it was really weird," he said. "I thought, 'This is crazy!' driving this large truck and it's doing these amazing maneuvers." Racing a snail A founder of the PayPal online payment system as well as Tesla and SpaceX - the maker and launcher of rockets and spacecraft - Musk is also working on building tunnels more efficiently at his aptly named Boring company. Describing traffic jams as "soul-crushing," he said they could be eliminated by building multi-level tunnel networks for cars. His company is already trying to bore tunnels under Los Angeles, he said. The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels, he added. His machines would build small-bore tunnels "faster than Gary," in what he said would be a major, cost-saving advance. A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way. Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several years ago, inviting entrepreneurs to make it real. In his vision, Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boring company. But Musk devotes only two or three percent of his time to the Boring company, he said, calling it more of a hobby -- and boasting that it is nevertheless making good progress. Wary of flying cars Although he also admires flying innovations - witnessed by his SpaceX endeavours - Musk isn't keen on the idea of cars in the sky. "If there were a whole bunch of flying cars going all over the place, that's not an anxiety-reducing situation," he quipped. "You're thinking, 'Did they service their hub cap, or is it going to come off and guillotine me?'" Speaking tech to power Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electric cars. With his first lithium battery Gigafactory ramping production in the United States, he revealed that he would announce plans later this year for as many as four more facilities "to address the global market." Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump. They meet approximately once a month and essentially consist of going around a room asking opinions. "I have used them thus far to argue in favour of immigration and in favour of (addressing) climate change," he said. "That wasn't on the agenda before," he added. "Maybe nothing will happen, but at least the words were said." One of Musk's latest big ideas is to send space tourists on trips around the moon. "There have to be reasons you get up in the morning and want to live," he said of pursuing big dreams such as space exploration. "If the future doesn't include being out there in the stars, being a multi-planet species, that is incredibly depressing." (AFP)

WATCH Musk @ TED: A sneak peek into tunnel networks for cars

Pope Francis made a surprise appearance at a TED talk conference on Tuesday, urging powerful leaders &quot;to act humbly&quot; and said he hoped technological innovation would not leave people behind.

The 18-minute video was filmed in Vatican City and broadcast to the audience at the annual TED 2017 conference in Vancouver.

&quot;The more powerful you are, the more your actions will have an impact on people, the more responsible you are to act humbly,&quot; said the pontiff, while seated at a desk.

&quot;If you don&#39;t, your power will ruin you, and you will ruin the other.&quot;

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<h5>The more powerful you are, the more your actions will have an impact on people, the more responsible you are to act humbly,&#39; Pope Francis said</h5>
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The comments echoed Francis&#39; frequent themes to not ignore the plight of immigrants, the poor and other vulnerable people

Speaking in Italian with subtitles, Francis urged solidarity to overcome a &quot;culture of waste&quot; that had affected not only food but people cast aside by economic systems that rely increasingly on automation.

&quot;How wonderful would it be if the growth of scientific and technological innovation would come along with more equality and

social inclusion,&quot; he said.

TED Talk lectures have grown in popularity, having been viewed cumulatively over 4.6 billion times since going online in 2006 (www.ted.com).

Other speakers slated to appear at the annual conference this week include tennis superstar Serena Williams and entrepreneur Elon Musk.&nbsp;

(Reuters)

'The more powerful you are, the more your actions will have an impact on people, the more responsible you are to act humbly,' he said

Pope Francis made a surprise appearance at a TED talk conference on Tuesday, urging powerful leaders "to act humbly" and said he hoped technological innovation would not leave people behind. The 18-minute video was filmed in Vatican City and broadcast to the audience at the annual TED 2017 conference in Vancouver. "The more powerful you are, the more your actions will have an impact on people, the more responsible you are to act humbly," said the pontiff, while seated at a desk. "If you don't, your power will ruin you, and you will ruin the other." The more powerful you are, the more your actions will have an impact on people, the more responsible you are to act humbly,' Pope Francis said × The comments echoed Francis' frequent themes to not ignore the plight of immigrants, the poor and other vulnerable people Speaking in Italian with subtitles, Francis urged solidarity to overcome a "culture of waste" that had affected not only food but people cast aside by economic systems that rely increasingly on automation. "How wonderful would it be if the growth of scientific and technological innovation would come along with more equality and social inclusion," he said. TED Talk lectures have grown in popularity, having been viewed cumulatively over 4.6 billion times since going online in 2006 (www.ted.com). Other speakers slated to appear at the annual conference this week include tennis superstar Serena Williams and entrepreneur Elon Musk. (Reuters)

Pope gives TED talk, tells powerful leaders to 'act humbly'

Tesla founder and Chief Executive Elon Musk said his latest company Neuralink is working to link the human brain with a machine interface by creating micron-sized devices.

Neuralink is aiming to bring to the market a product that helps with certain severe brain injuries due to stroke, cancer lesion etc, in about four years, Musk said in an interview with website Wait But Why.

&quot;If I were to communicate a concept to you, you would essentially engage in consensual telepathy,&quot; Musk said in the interview published on Thursday.

Artificial intelligence and machine learning will create computers so sophisticated and godlike that humans will need to implant &quot;neural laces&quot; in their brains to keep up, Musk said in a tech conference last year.

&quot;There are a bunch of concepts in your head that then your brain has to try to compress into this incredibly low data rate called speech or typing,&quot; Musk said in the latest interview.

&quot;If you have two brain interfaces, you could actually do an uncompressed direct conceptual communication with another person.&quot;

The technology could take about eight to 10 years to become usable by people with no disability, which would depend heavily on regulatory approval timing and how well the devices work on people with disabilities, Musk was quoted as saying.

In March, the Wall Street Journal reported that Musk had launched a company through which computers could merge with human brains. Neuralink was registered in California as a &quot;medical research&quot; company last July, and he plans on funding the company mostly by himself.

(Reuters)

Musk's latest company Neuralink is aiming to bring to the market a product that helps with certain severe brain injuries

Tesla founder and Chief Executive Elon Musk said his latest company Neuralink is working to link the human brain with a machine interface by creating micron-sized devices. Neuralink is aiming to bring to the market a product that helps with certain severe brain injuries due to stroke, cancer lesion etc, in about four years, Musk said in an interview with website Wait But Why. "If I were to communicate a concept to you, you would essentially engage in consensual telepathy," Musk said in the interview published on Thursday. Artificial intelligence and machine learning will create computers so sophisticated and godlike that humans will need to implant "neural laces" in their brains to keep up, Musk said in a tech conference last year. "There are a bunch of concepts in your head that then your brain has to try to compress into this incredibly low data rate called speech or typing," Musk said in the latest interview. "If you have two brain interfaces, you could actually do an uncompressed direct conceptual communication with another person." The technology could take about eight to 10 years to become usable by people with no disability, which would depend heavily on regulatory approval timing and how well the devices work on people with disabilities, Musk was quoted as saying. In March, the Wall Street Journal reported that Musk had launched a company through which computers could merge with human brains. Neuralink was registered in California as a "medical research" company last July, and he plans on funding the company mostly by himself. (Reuters)

Elon Musk on mission to link human brains with computers in four years: Report

Tesla founder Elon Musk said the electric car startup is set to launch its first semi-truck in September, moving for the first time into that segment. Musk made the announcement in a tweet, offering few details about the plan, although he has spoken in the past about moving into the truck segment.

&quot;Tesla Semi truck unveil set for September. Team has done an amazing job. Seriously next level,&quot; he wrote on Twitter.

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Tesla Semi truck unveil set for September. Team has done an amazing job. Seriously next level.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/852580027178696704">April 13, 2017</a></blockquote>
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The news comes with Tesla stock on an uptrend and the California-based group jockeying for position as the most valuable automotive maker with General Motors, even though Tesla produces far fewer vehicles.

Tesla&#39;s rise reflects a belief in the market that it embodies the future of the industry and has a firmer grip than traditional players on technologies that will inject autonomous features into driving.

Tesla last year sold 84,000 cars, generating $7 billion in revenue.

Tesla, which has overtaken Ford in market capitalisation, is on track to begin production in July of the Model 3, which is aimed at the middle market, making the electric car accessible to a broader swath of consumers.

Last year, Musk announced that Tesla plans to build a new pickup truck, an urban bus, and launch a sharing system of self-driving cars.

On Thursday, Musk said in response to a Twitter question that the pickup truck would be unveiled &quot;in 18 to 24 months&quot; and that the new roadster in the works would be a convertible.

The projects are part of what the billionaire entrepreneur called a &quot;secret&quot; second master plan for the US electric car manufacturer.

&quot;In addition to consumer vehicles, there are two other types of electric vehicle needed: heavy-duty trucks and high passenger-density urban transport,&quot; Musk wrote last July.

(AFP)

&nbsp;

Tesla's rise reflects a belief in the market that it embodies the future of the industry

Tesla founder Elon Musk said the electric car startup is set to launch its first semi-truck in September, moving for the first time into that segment. Musk made the announcement in a tweet, offering few details about the plan, although he has spoken in the past about moving into the truck segment. "Tesla Semi truck unveil set for September. Team has done an amazing job. Seriously next level," he wrote on Twitter. Tesla Semi truck unveil set for September. Team has done an amazing job. Seriously next level. — Elon Musk (@elonmusk) April 13, 2017 × The news comes with Tesla stock on an uptrend and the California-based group jockeying for position as the most valuable automotive maker with General Motors, even though Tesla produces far fewer vehicles. Tesla's rise reflects a belief in the market that it embodies the future of the industry and has a firmer grip than traditional players on technologies that will inject autonomous features into driving. Tesla last year sold 84,000 cars, generating $7 billion in revenue. Tesla, which has overtaken Ford in market capitalisation, is on track to begin production in July of the Model 3, which is aimed at the middle market, making the electric car accessible to a broader swath of consumers. Last year, Musk announced that Tesla plans to build a new pickup truck, an urban bus, and launch a sharing system of self-driving cars. On Thursday, Musk said in response to a Twitter question that the pickup truck would be unveiled "in 18 to 24 months" and that the new roadster in the works would be a convertible. The projects are part of what the billionaire entrepreneur called a "secret" second master plan for the US electric car manufacturer. "In addition to consumer vehicles, there are two other types of electric vehicle needed: heavy-duty trucks and high passenger-density urban transport," Musk wrote last July. (AFP)

Tesla to launch first semi-truck in September

Tesla on Monday became the second-largest US car maker in terms of market capitalisation, displacing Ford, whose sales lagged amid concerns about the ability of the US market to keep growing.

Many major auto makers reported US sales declines in March compared to a year ago, but Tesla over the weekend said it saw a huge jump in vehicles delivered to consumers in the first three months of the year.&nbsp;

That was enough to send the electric car maker&#39;s stock soaring Monday, even as investors punished major car brands for reporting lower-than-expected March sales.&nbsp;

Tesla said it delivered 25,000 of its high-tech vehicles in the January-March period -- a 69 per cent surge compared to the first three months of 2016 -- indicating it was on its way to meeting its goal of 50,000 vehicle deliveries by mid-2017.&nbsp;

Late last year, the company reported its first quarterly profit in more than three years, but then slipped back into unprofitability in the following quarter.&nbsp;

Investors still rewarded the company on Monday, with stock movements reshuffling the hierarchy among US carmakers. Tesla Motors overtook Ford for the number two spot and closed the gap with GM, the biggest US automaker by market capitalisation.&nbsp;

At market close, Tesla was up 7.3 per cent to $298.52 for a market capitalisation of $48.63 billion.

Ford, which at one point was down as much as three per cent, had a market capitalisation of $45.47 billion. At its low, GM fell 4.4 per cent, but maintained a market capitalization above $50.9 billion.

Tesla founder and CEO Elon Musk marked the occasion on Twitter with a dig at short sellers, investors who bet that a company&#39;s stock will decline.&nbsp;

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Stormy weather in Shortville ...
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/848935705057280001">April 3, 2017</a></blockquote>
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&quot;Stormy weather in Shortville,&quot; Musk wrote.&nbsp;

&nbsp;

Major brands struggle

For the industry as a whole, it may indeed be stormy weather. &nbsp;Car companies failed to meet forecasts of an overall March sales increase, which fell instead industry-wide by 1.6 per cent, according to an estimate by the tracking firm Autodata.&nbsp;The seasonally-adjusted annual rate for US vehicle sales fell to 16.62 million units, versus 16.67 million units a year ago, Autodata reported.&nbsp;

Despite the bad news, there were bright spots among established auto makers.&nbsp;GM saw sales gain 1.6 per cent, helped by Americans&#39; strong demand for light trucks and sport utility vehicles, as well as bigger discounts. Nissan sales also rose, up 3.2 per cent compared to March 2016, helped by its popular Rogue compact SUV.&nbsp;

But the news was not good for many other big players.&nbsp;Ford reported that sales fell a worse-than-expected 7.2 per cent, while Toyota sales dropped 2.1 per cent, compared to the same period last year.&nbsp;

FCA US, the American arm of Fiat Chrysler, continued to struggle, reporting a five per cent decline last month, while in the first three months of the year, sales were down eight per cent.&nbsp;Record Honda truck and SUV sales could not help the Japanese car maker notch an overall increase last month, as sales slipped 0.7 per cent, when accounting for declines at its Acura luxury brand.&nbsp;

In an earlier forecast note, Edmunds analyst Jessica Caldwell struck a cautionary tone for the industry, saying there were several areas of concern.&nbsp;

&quot;Inventories have reached levels not seen in more than a decade, and incentives are rising,&quot; Caldwell said, referring to discounts and other enticements offered to consumers.

&quot;We&#39;re also seeing an increase in loan terms and indications of a rise in subprime lending, which demonstrate sales aren&#39;t coming as easily as they used to,&quot; she said.&nbsp;

But while Toyota echoed that cautionary tone, pointing to a declining selling rate, GM remained optimistic. &nbsp;&quot;More people are working, consumer confidence is at a 16-year high, fuel prices are low,&quot; Kurt McNeil, head of GM&#39;s US sales, said in a statement. &quot;We see more growth ahead for our brands,&quot; McNeil said.&nbsp;

(AFP)

Elon Musk's company has now overtaken Ford, and it's narrowing in on General Motors

Tesla on Monday became the second-largest US car maker in terms of market capitalisation, displacing Ford, whose sales lagged amid concerns about the ability of the US market to keep growing. Many major auto makers reported US sales declines in March compared to a year ago, but Tesla over the weekend said it saw a huge jump in vehicles delivered to consumers in the first three months of the year. That was enough to send the electric car maker's stock soaring Monday, even as investors punished major car brands for reporting lower-than-expected March sales. Tesla said it delivered 25,000 of its high-tech vehicles in the January-March period -- a 69 per cent surge compared to the first three months of 2016 -- indicating it was on its way to meeting its goal of 50,000 vehicle deliveries by mid-2017. Late last year, the company reported its first quarterly profit in more than three years, but then slipped back into unprofitability in the following quarter. Investors still rewarded the company on Monday, with stock movements reshuffling the hierarchy among US carmakers. Tesla Motors overtook Ford for the number two spot and closed the gap with GM, the biggest US automaker by market capitalisation. At market close, Tesla was up 7.3 per cent to $298.52 for a market capitalisation of $48.63 billion. Ford, which at one point was down as much as three per cent, had a market capitalisation of $45.47 billion. At its low, GM fell 4.4 per cent, but maintained a market capitalization above $50.9 billion. Tesla founder and CEO Elon Musk marked the occasion on Twitter with a dig at short sellers, investors who bet that a company's stock will decline. Stormy weather in Shortville ... — Elon Musk (@elonmusk) April 3, 2017 × "Stormy weather in Shortville," Musk wrote. Major brands struggle For the industry as a whole, it may indeed be stormy weather. Car companies failed to meet forecasts of an overall March sales increase, which fell instead industry-wide by 1.6 per cent, according to an estimate by the tracking firm Autodata. The seasonally-adjusted annual rate for US vehicle sales fell to 16.62 million units, versus 16.67 million units a year ago, Autodata reported. Despite the bad news, there were bright spots among established auto makers. GM saw sales gain 1.6 per cent, helped by Americans' strong demand for light trucks and sport utility vehicles, as well as bigger discounts. Nissan sales also rose, up 3.2 per cent compared to March 2016, helped by its popular Rogue compact SUV. But the news was not good for many other big players. Ford reported that sales fell a worse-than-expected 7.2 per cent, while Toyota sales dropped 2.1 per cent, compared to the same period last year. FCA US, the American arm of Fiat Chrysler, continued to struggle, reporting a five per cent decline last month, while in the first three months of the year, sales were down eight per cent. Record Honda truck and SUV sales could not help the Japanese car maker notch an overall increase last month, as sales slipped 0.7 per cent, when accounting for declines at its Acura luxury brand. In an earlier forecast note, Edmunds analyst Jessica Caldwell struck a cautionary tone for the industry, saying there were several areas of concern. "Inventories have reached levels not seen in more than a decade, and incentives are rising," Caldwell said, referring to discounts and other enticements offered to consumers. "We're also seeing an increase in loan terms and indications of a rise in subprime lending, which demonstrate sales aren't coming as easily as they used to," she said. But while Toyota echoed that cautionary tone, pointing to a declining selling rate, GM remained optimistic. "More people are working, consumer confidence is at a 16-year high, fuel prices are low," Kurt McNeil, head of GM's US sales, said in a statement. "We see more growth ahead for our brands," McNeil said. (AFP)

Tesla now second largest US automaker

Supreme Court today dismissed the plea of auto manufacturers and&nbsp;banned&nbsp;the sale and registration of vehicles with BS-III emission norms. The apex court&#39;s move means only cars with BS-IV emission norms can be sold in the country.

The Supreme Court said the health of the people is more important than the&nbsp;commercial interest of automobile companies.

The move is likely to affect the&nbsp;sale of&nbsp;upto&nbsp;8.5 lakh vehicles in India. Supreme Court&#39;s directive comes into effect from April 1.&nbsp;

A bench of Justices Madan B Lokur and Deepak Gupta prohibited registration of any vehicles which do not meet the Bharat Stage-IV emission norm standards from April 1.

Difference&nbsp;between BS-III and BS-IV, VI 
BS-III 
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Introduced in 13 Indian cities in April 2005 for all vehicles (except two-wheelers)<a href="http://pib.nic.in/newsite/backgrounders.aspx?relid=65197"> link</a> 
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Entire country covered by April 2010. 
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Cars using petrol could give out regulated pollutants at rate of 2.65 g/km driven according to BS-III norms.&nbsp;<a href="http://www.siamindia.com/technical-regulation.aspx?mpgid=31&amp;pgidtrail=33">(link)</a> 
&middot; &nbsp; &nbsp; &nbsp; &nbsp; BS-III petrol is allowed to have up to 150 parts per million (ppm) sulphur and BS-III diesel is allowed to have 350 ppm sulphur.&nbsp;

BS-IV and VI 
&middot; &nbsp; &nbsp; &nbsp; &nbsp; BS-IV norms introduced in 13 cities in April 2010, BS-V standards skipped, straight to BS VI. 
&middot; &nbsp; &nbsp; &nbsp; &nbsp; In BS-IV, Cars using petrol will give out regulated pollutants at rate of 1.18 g/km and in BS VI cars will give them out at rate of 1.16 g/km driven.&nbsp;<a href="http://www.siamindia.com/technical-regulation.aspx?mpgid=31&amp;pgidtrail=33">(link)</a> 
&middot; &nbsp; &nbsp; &nbsp; &nbsp; BS-IV petrol and diesel both have 50 parts per million sulphur, BS-VI has 10 ppm sulphur.&nbsp;

(WION)

Elon Musk says this feat could dramatically lower the cost of space travel

Supreme Court today dismissed the plea of auto manufacturers and banned the sale and registration of vehicles with BS-III emission norms. The apex court's move means only cars with BS-IV emission norms can be sold in the country. The Supreme Court said the health of the people is more important than the commercial interest of automobile companies. The move is likely to affect the sale of upto 8.5 lakh vehicles in India. Supreme Court's directive comes into effect from April 1. A bench of Justices Madan B Lokur and Deepak Gupta prohibited registration of any vehicles which do not meet the Bharat Stage-IV emission norm standards from April 1. Difference between BS-III and BS-IV, VI BS-III · Introduced in 13 Indian cities in April 2005 for all vehicles (except two-wheelers) link · Entire country covered by April 2010. · Cars using petrol could give out regulated pollutants at rate of 2.65 g/km driven according to BS-III norms. (link) · BS-III petrol is allowed to have up to 150 parts per million (ppm) sulphur and BS-III diesel is allowed to have 350 ppm sulphur. BS-IV and VI · BS-IV norms introduced in 13 cities in April 2010, BS-V standards skipped, straight to BS VI. · In BS-IV, Cars using petrol will give out regulated pollutants at rate of 1.18 g/km and in BS VI cars will give them out at rate of 1.16 g/km driven. (link) · BS-IV petrol and diesel both have 50 parts per million sulphur, BS-VI has 10 ppm sulphur. (WION)

SpaceX hails 'revolution' after recycled rocket launch, landing

Tesla Inc founder and chief executive Elon Musk has launched a company called Neuralink Corp through which computers could merge with human brains, the Wall Street Journal reported, citing people familiar with the matter.

Neuralink is pursuing what Musk calls the &quot;neural lace&quot; technology, implanting tiny brain electrodes that may one day upload and download thoughts, the Journal reported.

Musk has not made an official announcement, but Neuralink was registered in California as a &quot;medical research&quot; company last July, and he plans on funding the company mostly by himself, a person briefed on the plans told the Journal.

It is unclear what sorts of products Neuralink might create, but people who have had discussions with the company describe a strategy similar to space launch company SpaceX and Tesla, the Journal report said.

In recent weeks, Neuralink has also hired leading academics in the field, the Journal reported.

(Reuters)

Musk has launched a company called Neuralink Corp through which computers could merge with human brains, WSJ reported

Tesla Inc founder and chief executive Elon Musk has launched a company called Neuralink Corp through which computers could merge with human brains, the Wall Street Journal reported, citing people familiar with the matter. Neuralink is pursuing what Musk calls the "neural lace" technology, implanting tiny brain electrodes that may one day upload and download thoughts, the Journal reported. Musk has not made an official announcement, but Neuralink was registered in California as a "medical research" company last July, and he plans on funding the company mostly by himself, a person briefed on the plans told the Journal. It is unclear what sorts of products Neuralink might create, but people who have had discussions with the company describe a strategy similar to space launch company SpaceX and Tesla, the Journal report said. In recent weeks, Neuralink has also hired leading academics in the field, the Journal reported. (Reuters)

New Elon Musk company may (one day) allow upload, download of thoughts: WSJ

Tesla announced plans to raise $1.15 billion in new funding to help fuel production of a mass market-targeted Model 3 electric car set for release this year.

Tesla said that it planned to offer $250 million in common stock and $750 million in convertible notes, with underwriters being given the option to buy an additional 15 percent of each offering.

Tesla co-founder and chief executive Elon Musk will take part by buying $25 million worth of the new shares, according to the California-based company.

The offerings were expected to raise about $1.15 billion for Tesla, which said it intended to use the money &quot;to strengthen its balance sheet and further reduce any risks associated with the rapid scaling of its business due to the launch of Model 3, as well as for general corporate purposes.&quot;

Tesla&#39;s Model 3 was on track to begin production in July, with output gradually ramping up to 5,000 vehicles weekly by the end of this year, according to executives.

The Model 3 is priced at a moderate $35,000 in the United States, much below the price of its initial models S and X electric vehicles.

The Model 3 was designed from the outset to be more efficient to make, a move intended to avoid production stumbles.

Tesla slipped back into the red in the final three months of last year while revenue revved up, with orders for some electric car models hitting record highs, according to an earnings statement in February.

Musk expressed confidence in an earnings call at the time that Tesla electric car production would climb to 500,000 next year.

According to its latest financial report, revenue for the quarter that ended on December 31 came to $2.28 billion, a leap from the $1.22 billion taken a year ago.

The company recorded a loss of $121.3 million, compared with a profit of $22 million in the prior quarter but a loss of $320.4 in the same period a year earlier.

General Motors, the leading US automaker, is hoping to challenge Tesla&#39;s lower-priced model with its own Bolt electric vehicle.

(AFP)

The Model 3 is priced at a moderate $35,000 in the United States, much below the price of its initial models S and X electric vehicles

Tesla announced plans to raise $1.15 billion in new funding to help fuel production of a mass market-targeted Model 3 electric car set for release this year. Tesla said that it planned to offer $250 million in common stock and $750 million in convertible notes, with underwriters being given the option to buy an additional 15 percent of each offering. Tesla co-founder and chief executive Elon Musk will take part by buying $25 million worth of the new shares, according to the California-based company. The offerings were expected to raise about $1.15 billion for Tesla, which said it intended to use the money "to strengthen its balance sheet and further reduce any risks associated with the rapid scaling of its business due to the launch of Model 3, as well as for general corporate purposes." Tesla's Model 3 was on track to begin production in July, with output gradually ramping up to 5,000 vehicles weekly by the end of this year, according to executives. The Model 3 is priced at a moderate $35,000 in the United States, much below the price of its initial models S and X electric vehicles. The Model 3 was designed from the outset to be more efficient to make, a move intended to avoid production stumbles. Tesla slipped back into the red in the final three months of last year while revenue revved up, with orders for some electric car models hitting record highs, according to an earnings statement in February. Musk expressed confidence in an earnings call at the time that Tesla electric car production would climb to 500,000 next year. According to its latest financial report, revenue for the quarter that ended on December 31 came to $2.28 billion, a leap from the $1.22 billion taken a year ago. The company recorded a loss of $121.3 million, compared with a profit of $22 million in the prior quarter but a loss of $320.4 in the same period a year earlier. General Motors, the leading US automaker, is hoping to challenge Tesla's lower-priced model with its own Bolt electric vehicle. (AFP)

Tesla seeks $1.15 billion to help fuel Model 3 launch

Sending tourists for a trip around the moon is the latest big idea launched by Elon Musk, a Silicon Valley star known for turning his passions into visionary enterprises.

Musk has become one of the United States&#39; best-known innovators. He was a founder of payments company PayPal, electric carmaker Tesla Motors and SpaceX, maker and launcher of rockets and spacecraft.

SpaceX recently announced that two private citizens have paid money to be sent around the Moon in what would mark the farthest humans have ever travelled to deep space since the 1970s.

In a sector where entrepreneurs often speak of &quot;moonshots,&quot; Musk is one of the biggest dreamers. The 45-year-old South Africa-born entrepreneur has channelled a dot-com fortune into a series of ambitious ventures.

Besides being the head of SpaceX and Tesla, Musk is the chairman of SolarCity, a solar panel installer recently bought by Tesla. He also operates his own foundation focusing on education, clean energy and child health.

And he drafted a paper detailing the feasibility of an ultra-fast &quot;Hyperloop&quot; rail transport system that would transport people at near supersonic speeds, then made it freely available to enterprises willing to pursue the project.

&#39;Doesn&#39;t sit around&#39;

&quot;He is a visionary who has some key passions which he pursues with vigour,&quot; Jackdaw Research chief analyst Jan Dawson said of Musk. &quot;He doesn&#39;t sit around and wait for people to do something about them; he goes out and does it himself.&quot;

Musk&#39;s penchant for rocketing after his passions may appear to spread him thin, but he has built a record of success. 
Musk appears strong on painting big ideas in broad strokes and then enlisting people skilled at tending to the nuts-and-bolts work needed to follow through, say observers.

&quot;He doesn&#39;t seem to be able to focus,&quot; analyst Rob Enderle of Enderle Group said. &quot;He just likes coming up with the ideas and is good at picking other people who can deal with the plumbing - that is why he is able to do a lot of stuff.&quot;

And while some may wonder whether hubris or realism reigns in Musk&#39;s moves, his businesses have gained value, with the jury still out on the wisdom of the Tesla acquisition of SolarCity.

&quot;He can certainly sell his ideas,&quot; Enderle said. &quot;The fact his businesses have held together so long indicates he is not a con man.&quot;

Fighting against evil

Musk more than a year ago took part in creating a nonprofit research company devoted to developing artificial intelligence that will help people and not hurt them. Musk found himself in the middle of a technology world controversy by holding firm that AI could turn on humanity and be its ruin instead of a salvation.

Technology giants including Google, Apple and Microsoft have been investing in making machines smarter, contending the goal is to improve lives. &quot;If we create some digital super-intelligence that exceeds us in every way by a lot, it is very important that it be benign,&quot; Musk said at a conference in California.

He reasoned that even a benign situation with ultra-intelligent AI would put people so far beneath the machine they would be &quot;like a house cat.&quot; &quot;I don&#39;t love the idea of being a house cat,&quot; Musk said, envisioning the creation of neural lacing that magnifies people&#39;s brain power by linking them directly to computing capabilities.

Living in a game

Some of his ideas have prompted questions about whether Musk is a visionary or mad scientist. He has raised eyebrows with a theory that the world as it is known may be a computer simulation.

&quot;I&#39;ve had so many simulation discussions it&#39;s crazy,&quot; Musk said while fielding a question on the topic at the conference. 
He maintained that &quot;the odds that we are in base reality is one in billions.&quot;

Musk lives in Los Angeles and holds US, Canadian and South African citizenship. He moved to Canada in his late teens and then to the United States, earning bachelor&#39;s degrees in physics and business from the University of Pennsylvania.

After graduating, Musk abandoned plans to pursue further studies at Stanford University and started Zip2, a company that made online publishing software for the media industry. He banked his first millions before the age of 30 when he sold Zip2 to US computer maker Compaq for more than $300 million in 1999.

Musk&#39;s next company, X.com, eventually merged with PayPal, the online payments firm bought by Internet auction giant eBay for $1.5 billion in 2002. Forbes estimates Musk&#39;s current net worth at $13.4 billion.

(AFP)

Sending tourists for a trip around the moon is the latest big idea launched by Elon Musk

Sending tourists for a trip around the moon is the latest big idea launched by Elon Musk, a Silicon Valley star known for turning his passions into visionary enterprises. Musk has become one of the United States' best-known innovators. He was a founder of payments company PayPal, electric carmaker Tesla Motors and SpaceX, maker and launcher of rockets and spacecraft. SpaceX recently announced that two private citizens have paid money to be sent around the Moon in what would mark the farthest humans have ever travelled to deep space since the 1970s. In a sector where entrepreneurs often speak of "moonshots," Musk is one of the biggest dreamers. The 45-year-old South Africa-born entrepreneur has channelled a dot-com fortune into a series of ambitious ventures. Besides being the head of SpaceX and Tesla, Musk is the chairman of SolarCity, a solar panel installer recently bought by Tesla. He also operates his own foundation focusing on education, clean energy and child health. And he drafted a paper detailing the feasibility of an ultra-fast "Hyperloop" rail transport system that would transport people at near supersonic speeds, then made it freely available to enterprises willing to pursue the project. 'Doesn't sit around' "He is a visionary who has some key passions which he pursues with vigour," Jackdaw Research chief analyst Jan Dawson said of Musk. "He doesn't sit around and wait for people to do something about them; he goes out and does it himself." Musk's penchant for rocketing after his passions may appear to spread him thin, but he has built a record of success. Musk appears strong on painting big ideas in broad strokes and then enlisting people skilled at tending to the nuts-and-bolts work needed to follow through, say observers. "He doesn't seem to be able to focus," analyst Rob Enderle of Enderle Group said. "He just likes coming up with the ideas and is good at picking other people who can deal with the plumbing - that is why he is able to do a lot of stuff." And while some may wonder whether hubris or realism reigns in Musk's moves, his businesses have gained value, with the jury still out on the wisdom of the Tesla acquisition of SolarCity. "He can certainly sell his ideas," Enderle said. "The fact his businesses have held together so long indicates he is not a con man." Fighting against evil Musk more than a year ago took part in creating a nonprofit research company devoted to developing artificial intelligence that will help people and not hurt them. Musk found himself in the middle of a technology world controversy by holding firm that AI could turn on humanity and be its ruin instead of a salvation. Technology giants including Google, Apple and Microsoft have been investing in making machines smarter, contending the goal is to improve lives. "If we create some digital super-intelligence that exceeds us in every way by a lot, it is very important that it be benign," Musk said at a conference in California. He reasoned that even a benign situation with ultra-intelligent AI would put people so far beneath the machine they would be "like a house cat." "I don't love the idea of being a house cat," Musk said, envisioning the creation of neural lacing that magnifies people's brain power by linking them directly to computing capabilities. Living in a game Some of his ideas have prompted questions about whether Musk is a visionary or mad scientist. He has raised eyebrows with a theory that the world as it is known may be a computer simulation. "I've had so many simulation discussions it's crazy," Musk said while fielding a question on the topic at the conference. He maintained that "the odds that we are in base reality is one in billions." Musk lives in Los Angeles and holds US, Canadian and South African citizenship. He moved to Canada in his late teens and then to the United States, earning bachelor's degrees in physics and business from the University of Pennsylvania. After graduating, Musk abandoned plans to pursue further studies at Stanford University and started Zip2, a company that made online publishing software for the media industry. He banked his first millions before the age of 30 when he sold Zip2 to US computer maker Compaq for more than $300 million in 1999. Musk's next company, X.com, eventually merged with PayPal, the online payments firm bought by Internet auction giant eBay for $1.5 billion in 2002. Forbes estimates Musk's current net worth at $13.4 billion. (AFP)

Is Tesla chief Elon Musk a visionary or mad scientist?

A SpaceX Falcon rocket blasted off on Sunday from a Florida launch pad once used to send NASA astronauts to the moon, a step forward for billionaire entrepreneur Elon Musk and his company&#39;s goal of ferrying astronauts to the International Space Station.

The 229-foot tall (70-meter) Falcon 9 soared off a seaside launchpad at the Kennedy Space Center at 9.39 am&nbsp;ET (1439 GMT) carrying a Dragon cargo ship bound for the station.

Nine minutes after blastoff, the main section of the rocket flew back to a landing pad at nearby Cape Canaveral Air Force Station, the eighth successful touchdown for Space Exploration Technologies Corp.

&quot;Baby came back,&quot; Musk wrote on Twitter, celebrating the re-landing, which came a day after SpaceX decided to delay the mission 13 seconds before launch due to concerns about the steering system in the rocket`s upper stage, the company said.

Sunday&#39;s launch was the first for SpaceX from Launch Complex 39A, originally built for the 1960s-era Apollo moon program and later repurposed for the space shuttles.

The pad was last used for the final space shuttle launch in 2011. In 2014, SpaceX signed a 20-year lease to use pad and has spent millions remodeling it.&nbsp;&nbsp;

The launch was also SpaceX&#39;s first from Florida since an accident in September heavily damaged what had been the company&#39;s prime site at Cape Canaveral Air Force Station, located just south of the NASA spaceport.&nbsp;

Last month, SpaceX resumed flying its Falcon 9 rockets using a second launch pad in California, where the first stage of the rocket also nailed its re-landing.&nbsp;

The company plans to reuse the rockets, slashing costs and allowing it to offer reduced pricing.

The National Aeronautics and Space Administration, which hired SpaceX to fly cargo to the station after the shuttle program ended, closely monitored the launch to learn more about the company`s operations before it clears the company to fly NASA astronauts on SpaceX rockets.

SpaceX and Boeing Co are scheduled to begin flying crew to the station by the end of 2018. A Government Accountability Office report last week said both companies face technical hurdles that likely will delay their programs.&nbsp;

SpaceX aims to have the Florida launchpad,&nbsp;damaged in last year&#39;s explosion, up and running by this summer.

(Reuters)

The 229-foot tall (70-meter) Falcon 9 soared off a seaside launchpad at the Kennedy Space Center at 9.39 am?ET

A SpaceX Falcon rocket blasted off on Sunday from a Florida launch pad once used to send NASA astronauts to the moon, a step forward for billionaire entrepreneur Elon Musk and his company's goal of ferrying astronauts to the International Space Station. The 229-foot tall (70-meter) Falcon 9 soared off a seaside launchpad at the Kennedy Space Center at 9.39 am ET (1439 GMT) carrying a Dragon cargo ship bound for the station. Nine minutes after blastoff, the main section of the rocket flew back to a landing pad at nearby Cape Canaveral Air Force Station, the eighth successful touchdown for Space Exploration Technologies Corp. "Baby came back," Musk wrote on Twitter, celebrating the re-landing, which came a day after SpaceX decided to delay the mission 13 seconds before launch due to concerns about the steering system in the rocket`s upper stage, the company said. Sunday's launch was the first for SpaceX from Launch Complex 39A, originally built for the 1960s-era Apollo moon program and later repurposed for the space shuttles. The pad was last used for the final space shuttle launch in 2011. In 2014, SpaceX signed a 20-year lease to use pad and has spent millions remodeling it. The launch was also SpaceX's first from Florida since an accident in September heavily damaged what had been the company's prime site at Cape Canaveral Air Force Station, located just south of the NASA spaceport. Last month, SpaceX resumed flying its Falcon 9 rockets using a second launch pad in California, where the first stage of the rocket also nailed its re-landing. The company plans to reuse the rockets, slashing costs and allowing it to offer reduced pricing. The National Aeronautics and Space Administration, which hired SpaceX to fly cargo to the station after the shuttle program ended, closely monitored the launch to learn more about the company`s operations before it clears the company to fly NASA astronauts on SpaceX rockets. SpaceX and Boeing Co are scheduled to begin flying crew to the station by the end of 2018. A Government Accountability Office report last week said both companies face technical hurdles that likely will delay their programs. SpaceX aims to have the Florida launchpad, damaged in last year's explosion, up and running by this summer. (Reuters)

SpaceX launches rocket from historic NASA pad in Florida

Electric car maker Tesla Incorporation may enter the Indian market this summer, Chief Executive Elon Musk tweeted on Tuesday.

Replying to a question on Twitter regarding whether Tesla plans to launch in India, Musk tweeted: &quot;Hoping for summer this year.&quot;&nbsp;

Twitter user who goes by the handle &rlm;@goel_ishan posted a tweet which asked, &ldquo;@elonmusk eagerly waiting for Tesla to launch in India. Any plans to do it? If so then WHEN?&rdquo; Musk replied by saying, &ldquo;@goel_ishan Hoping for summer this year.&rdquo;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/goel_ishan">@goel_ishan</a> Hoping for summer this year
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/829027848434257924">February 7, 2017</a></blockquote>
<script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

Musk did not offer any details on the plans.

(WION with agency inputs) 
&nbsp;

&nbsp;

&nbsp;

Electric car maker Tesla Incorporation may enter the Indian market but Elon Musk did not offer any details.

Electric car maker Tesla Incorporation may enter the Indian market this summer, Chief Executive Elon Musk tweeted on Tuesday. Replying to a question on Twitter regarding whether Tesla plans to launch in India, Musk tweeted: "Hoping for summer this year." Twitter user who goes by the handle ‏@goel_ishan posted a tweet which asked, “@elonmusk eagerly waiting for Tesla to launch in India. Any plans to do it? If so then WHEN?” Musk replied by saying, “@goel_ishan Hoping for summer this year.” @goel_ishan Hoping for summer this year — Elon Musk (@elonmusk) February 7, 2017 × Musk did not offer any details on the plans. (WION with agency inputs)

Tesla may launch cars in India this summer

Tesla Motors changed its name to &quot;Tesla Inc&quot; as Chief Executive Elon Musk looks to transform the Silicon Valley firm from an electric car maker to a diversified energy products company.

In October, Musk unveiled solar-powered roof tiles that eliminate the need for traditional panels and a longer-lasting home battery illustrating the benefits of combining his electric car and battery maker with solar installer SolarCity.

Tesla won approval in November from its shareholders to acquire SolarCity, for a stock swap deal worth about $2 billion, in which Musk was the largest shareholder.

The new name is effective from February 1, Tesla said in a filing on Wednesday.

(Reuters)

Elon Musk aims to transform the firm from an electric car maker to a diversified energy products company

Tesla Motors changed its name to "Tesla Inc" as Chief Executive Elon Musk looks to transform the Silicon Valley firm from an electric car maker to a diversified energy products company. In October, Musk unveiled solar-powered roof tiles that eliminate the need for traditional panels and a longer-lasting home battery illustrating the benefits of combining his electric car and battery maker with solar installer SolarCity. Tesla won approval in November from its shareholders to acquire SolarCity, for a stock swap deal worth about $2 billion, in which Musk was the largest shareholder. The new name is effective from February 1, Tesla said in a filing on Wednesday. (Reuters)

Tesla drops 'Motors' from the company's name

After electric luxury cars, carmaker Tesla has now forayed into alternative energy business&mdash;by introducing solar roofs for environment-friendly homes, international news agency Reuters reported.&nbsp;

&nbsp;

Company founder Elon Musk emphasised&nbsp;on&nbsp;the need for solar panels to undergo a similar transformation as Tesla&#39;s electric cars. He was speaking at a news conference at Universal Studios in Los Angeles.&nbsp;

&nbsp;

&quot;Global warming is a serious crisis and we need to do something about that,&quot; he was quoted as saying.&nbsp;

&nbsp;

&quot;The goal is to have solar roofs that look better than a normal roof, generate electricity, last longer, have better insulation, and actually have a total cost that his less than the price of a normal roof plus electricity,&quot; Musk said.

&nbsp;

Unveiling an updated version of Tesla&#39;s&nbsp;solar-powered battery, Musk said the process of installing solar roofs will begin &quot;sometime next year&quot;.&nbsp;

&nbsp;

Tesla has joined hands with solar panel maker SolarCity and aims to capture five per cent of the market, Musk said at the conference.&nbsp;

&nbsp;

(WION with inputs from Reuters)

'The goal is to have solar roofs that look better than a normal roof, generate electricity, last longer, have better insulation,' he said

After electric luxury cars, carmaker Tesla has now forayed into alternative energy business—by introducing solar roofs for environment-friendly homes, international news agency Reuters reported. Company founder Elon Musk emphasised on the need for solar panels to undergo a similar transformation as Tesla's electric cars. He was speaking at a news conference at Universal Studios in Los Angeles. "Global warming is a serious crisis and we need to do something about that," he was quoted as saying. "The goal is to have solar roofs that look better than a normal roof, generate electricity, last longer, have better insulation, and actually have a total cost that his less than the price of a normal roof plus electricity," Musk said. Unveiling an updated version of Tesla's solar-powered battery, Musk said the process of installing solar roofs will begin "sometime next year". Tesla has joined hands with solar panel maker SolarCity and aims to capture five per cent of the market, Musk said at the conference. (WION with inputs from Reuters)

Tesla forays into clean energy with solar roofs

Musk has become one of the United States&#39; best-known innovators. He was a founder of payments company PayPal, electric carmaker Tesla Motors and SpaceX, maker and launcher of rockets and spacecraft.

The 45-year-old South Africa-born entrepreneur has channeled a dot-com fortune into a series of ambitious ventures.&nbsp;Besides being the head of SpaceX and Tesla, Musk is the chairman of SolarCity, a solar panel installer that has agreed recently to be bought by Tesla.&nbsp;He also operates his own foundation focusing on education, clean energy and child health.

This week Musk, as SpaceX chief, unveiled maybe the most ambitious plan anywhere on the planet:&nbsp;to establish a Mars colony by sending 100 humans at a time on massive spacecraft, possibly costing as low as $100,000 per person.

&nbsp;Evil AI&nbsp;

Late last year Musk took part in creating a nonprofit research company devoted to developing artificial intelligence, that will help people and not hurt them.

Musk found himself in the middle of a technology world controversy by holding firm that AI could turn on humanity and be its ruin instead of a salvation.&nbsp;Technology giants including Google, Apple and Microsoft have been investing in making machines smarter, contending the goal is to improve lives.

&quot;If we create some digital super-intelligence that exceeds us in every way by a lot, it is very important that it be benign,&quot; Musk said at a Code Conference in California in June.

A danger, he contended, was that highly advanced artificial intelligence would be left to its own devices, or in the hands of a few people, to the detriment of civilisation as a whole.&nbsp;&quot;I am concerned about certain directions that AI could take,&quot; Musk said.

He reasoned that even a benign situation with ultra-intelligent AI would put people so far beneath the machine they would be &quot;like a house cat.&quot;

&quot;I don&#39;t love the idea of being a house cat,&quot; Musk said, envisioning the creation of neural lacing that magnifies people&#39;s brain power by linking them directly to computing capabilities.

&nbsp;

Living in a game&nbsp;

 
Musk has also raised eyebrows with a theory that the world as it is known may be a computer simulation so real that people take it for life.&nbsp;&quot;I&#39;ve had so many simulation discussions it&#39;s crazy,&quot; Musk said, while fielding a question on the topic at the Code Conference.

The argument for life as we know it being a simulation is strong, according to Musk.&nbsp;He maintained that &quot;the odds that we are in base reality is one in billions&quot;.

Musk lives in Los Angeles and holds US, Canadian and South African citizenship.

He moved to Canada in his late teens and then to the United States, earning bachelor&#39;s degrees in physics and business from the University of Pennsylvania.

After graduating, Musk abandoned plans to pursue further studies at Stanford University and started Zip2, a company that made online publishing software for the media industry.

He banked his first millions before the age of 30 when he sold Zip2 to US computer maker Compaq for more than $300 million in 1999.&nbsp;Musk&#39;s next company, X.com, eventually merged with PayPal, the online payments firm bought by Internet auction giant eBay for $1.5 billion in 2002.&nbsp;Forbes estimated Musk&#39;s current net worth at $11.7 billion

&nbsp;

Space, earth visions&nbsp;

 
In 2002, Musk launched SpaceX, or Space Exploration Technologies Corp, where he serves as chief executive and chief technology officer, with plans to develop low-cost rockets.

Musk invested $100 million of his personal fortune in SpaceX.&nbsp;Closer to earth, Musk in 2004 launched Tesla Motors, with the aim of popularising electric vehicles. Tesla is also building a massive &quot;Gigafactory&quot; to crank out lithium-ion batteries in Nevada as part of a plan to produce more electric cars at lower price points.

&nbsp;

&#39;Hyperloop&#39; dreams&nbsp;

Musk openly released a design for a super-fast transport system dubbed &quot;Hyperloop&quot; which could carry passengers in low-pressure tubes at near-supersonic speeds.&nbsp;The project could connect Los Angeles and San Francisco in 35 minutes and could be a low-cost alternative to a high-speed rail network planned for the western US state.

Musk has said he has no plans to build the system but offered the &quot;open source design&quot; for others to pursue a venture. A couple of startups have taken up the challenge.&nbsp;Musk&#39;s called the system a cross between a &quot;Concorde, a rail gun, and an air hockey table&quot;.

Jon Favreau, director of &quot;Iron Man,&quot; calls Musk a modern-day &quot;Renaissance man&quot;.&nbsp;In an article for Time, Favreau said he and actor Robert Downey Jr modeled the main character in their movie,&nbsp;&quot;genius billionaire Tony Stark&quot;,&nbsp;after the Silicon Valley star.

Musk told Time that his goal was to be &quot;involved in things that are going to make a significant difference to the future of humanity&quot;.

(AFP)

Musk has said, 'If we create some digital super-intelligence that exceeds us in every way by a lot, it is very important that it be benign'

Musk has become one of the United States' best-known innovators. He was a founder of payments company PayPal, electric carmaker Tesla Motors and SpaceX, maker and launcher of rockets and spacecraft. The 45-year-old South Africa-born entrepreneur has channeled a dot-com fortune into a series of ambitious ventures. Besides being the head of SpaceX and Tesla, Musk is the chairman of SolarCity, a solar panel installer that has agreed recently to be bought by Tesla. He also operates his own foundation focusing on education, clean energy and child health. This week Musk, as SpaceX chief, unveiled maybe the most ambitious plan anywhere on the planet: to establish a Mars colony by sending 100 humans at a time on massive spacecraft, possibly costing as low as $100,000 per person. Evil AI Late last year Musk took part in creating a nonprofit research company devoted to developing artificial intelligence, that will help people and not hurt them. Musk found himself in the middle of a technology world controversy by holding firm that AI could turn on humanity and be its ruin instead of a salvation. Technology giants including Google, Apple and Microsoft have been investing in making machines smarter, contending the goal is to improve lives. "If we create some digital super-intelligence that exceeds us in every way by a lot, it is very important that it be benign," Musk said at a Code Conference in California in June. A danger, he contended, was that highly advanced artificial intelligence would be left to its own devices, or in the hands of a few people, to the detriment of civilisation as a whole. "I am concerned about certain directions that AI could take," Musk said. He reasoned that even a benign situation with ultra-intelligent AI would put people so far beneath the machine they would be "like a house cat." "I don't love the idea of being a house cat," Musk said, envisioning the creation of neural lacing that magnifies people's brain power by linking them directly to computing capabilities. Living in a game Musk has also raised eyebrows with a theory that the world as it is known may be a computer simulation so real that people take it for life. "I've had so many simulation discussions it's crazy," Musk said, while fielding a question on the topic at the Code Conference. The argument for life as we know it being a simulation is strong, according to Musk. He maintained that "the odds that we are in base reality is one in billions". Musk lives in Los Angeles and holds US, Canadian and South African citizenship. He moved to Canada in his late teens and then to the United States, earning bachelor's degrees in physics and business from the University of Pennsylvania. After graduating, Musk abandoned plans to pursue further studies at Stanford University and started Zip2, a company that made online publishing software for the media industry. He banked his first millions before the age of 30 when he sold Zip2 to US computer maker Compaq for more than $300 million in 1999. Musk's next company, X.com, eventually merged with PayPal, the online payments firm bought by Internet auction giant eBay for $1.5 billion in 2002. Forbes estimated Musk's current net worth at $11.7 billion Space, earth visions In 2002, Musk launched SpaceX, or Space Exploration Technologies Corp, where he serves as chief executive and chief technology officer, with plans to develop low-cost rockets. Musk invested $100 million of his personal fortune in SpaceX. Closer to earth, Musk in 2004 launched Tesla Motors, with the aim of popularising electric vehicles. Tesla is also building a massive "Gigafactory" to crank out lithium-ion batteries in Nevada as part of a plan to produce more electric cars at lower price points. 'Hyperloop' dreams Musk openly released a design for a super-fast transport system dubbed "Hyperloop" which could carry passengers in low-pressure tubes at near-supersonic speeds. The project could connect Los Angeles and San Francisco in 35 minutes and could be a low-cost alternative to a high-speed rail network planned for the western US state. Musk has said he has no plans to build the system but offered the "open source design" for others to pursue a venture. A couple of startups have taken up the challenge. Musk's called the system a cross between a "Concorde, a rail gun, and an air hockey table". Jon Favreau, director of "Iron Man," calls Musk a modern-day "Renaissance man". In an article for Time, Favreau said he and actor Robert Downey Jr modeled the main character in their movie, "genius billionaire Tony Stark", after the Silicon Valley star. Musk told Time that his goal was to be "involved in things that are going to make a significant difference to the future of humanity". (AFP)

Elon Musk is wary of humanity's future, AI

Tesla Motors Inc chief executive Elon Musk said yesterday the company will offer a larger upgraded battery pack for performance versions of its Model S and X vehicles that will extend range and allow for super fast acceleration. 
 
The new 100 kilowatt hour battery pack means high end versions of the Model S sedan, called the P 100D, will be the world&#39;s fastest accelerating car in production, the Silicon Valley automaker said. 
 
&quot;These are very profound milestones and I think will help convince people around the world that electric is the future,&quot; said Musk on a conference call with journalists. 
 
The new battery extends the range of performance versions of the new Model S beyond 482.8 kilometres, Tesla said. Musk said that if the weather is not too hot, a driver could travel from San Francisco to Los Angeles without recharging. 
 
After rising 2.1 per cent to $227.71 in afternoon trade, shares dipped from session highs to $224.87, up less than 1 per cent. 
 
News of the upgrade comes as the all-electric car maker lays the groundwork for a controversial buyout of SolarCity Corp, while it also prepares for next year&#39;s launch of its high profile Model 3 mass-market vehicle. 
 
SolarCity agreed to Tesla&#39;s $2.6 billion offer to buy the solar panel installer earlier this month, clearing one obstacle in the way of Musk&#39;s ambitious goal to create a carbon-free energy and transportation company. Both companies are still trading below where they were when SolarCity&#39;s approval for the deal was announced. 
 
In May, Tesla said it was stepping up production plans for its upcoming Model 3 mass-market sedan and would build a total of 500,000 all-electric vehicles in 2018, two years ahead of schedule, but it warned that spending will ramp up as well. 
 
Tesla earlier this month reported a steeper than expected quarterly loss on higher spending at its vehicle and battery factories. 
 
(Reuters)

The new 100 kilowatt-hour battery means high-end versions of the Model S sedan will be the world's fastest accelerating car in production

Tesla Motors Inc chief executive Elon Musk said yesterday the company will offer a larger upgraded battery pack for performance versions of its Model S and X vehicles that will extend range and allow for super fast acceleration. The new 100 kilowatt hour battery pack means high end versions of the Model S sedan, called the P 100D, will be the world's fastest accelerating car in production, the Silicon Valley automaker said. "These are very profound milestones and I think will help convince people around the world that electric is the future," said Musk on a conference call with journalists. The new battery extends the range of performance versions of the new Model S beyond 482.8 kilometres, Tesla said. Musk said that if the weather is not too hot, a driver could travel from San Francisco to Los Angeles without recharging. After rising 2.1 per cent to $227.71 in afternoon trade, shares dipped from session highs to $224.87, up less than 1 per cent. News of the upgrade comes as the all-electric car maker lays the groundwork for a controversial buyout of SolarCity Corp, while it also prepares for next year's launch of its high profile Model 3 mass-market vehicle. SolarCity agreed to Tesla's $2.6 billion offer to buy the solar panel installer earlier this month, clearing one obstacle in the way of Musk's ambitious goal to create a carbon-free energy and transportation company. Both companies are still trading below where they were when SolarCity's approval for the deal was announced. In May, Tesla said it was stepping up production plans for its upcoming Model 3 mass-market sedan and would build a total of 500,000 all-electric vehicles in 2018, two years ahead of schedule, but it warned that spending will ramp up as well. Tesla earlier this month reported a steeper than expected quarterly loss on higher spending at its vehicle and battery factories. (Reuters)

Tesla touts vehicle speed and range with new upgraded battery

Tesla Motors Inc reported a steeper than expected quarter loss on Wednesday on higher spending at its vehicle and battery factories&nbsp;and said adjusted profitability could be within sight if the company meets its delivery goals.&nbsp; 
 
The 13th straight quarterly loss for the Silicon Valley electric carmaker underscores the financial hurdles that hamper it while it takes on increasingly ambitious goals - a ten-fold ramp of vehicle production in three years and the recent plan to acquire solar panel installer, SolarCity Corp. 
 
Tesla, led by entrepreneur Elon Musk, said it was still on track to deliver about 50,000 new Model S and Model X vehicles during the second half of 2016, and reiterated that it would spend $2.25 billion in capital expenditures in 2016 to prepare for its upcoming Model 3 sedan. 
 
If the company can fulfil those production and delivery goals in the second half of the year, &quot;we`ve got a great chance of being non-GAAP profitable,&quot; chief financial officer Jason Wheeler told analysts on a conference call without specifying a time period. 
 
Tesla reported its first-ever quarterly profit in 2013. 
 
Shares of the company, which had acquired SolarCity for $2.6 billion, were little changed in after-hours trading. 
 
&quot;There&#39;s no doubt Tesla will remain the category leader as electric vehicles become increasingly mainstream, but it could be years before the bottom line justifies any investment in Tesla other than a purely speculative one,&quot; said James Brumley, InvestorPlace.com analyst. 
 
Tesla reported last month it had missed its vehicle delivery target for the second consecutive quarter, raising doubts it would hit its annual target. But Tesla could end the year just shy of its original delivery target of 80,000 to 90,000 vehicles for 2016 if it delivers 50,000 cars in the second half of 2016. 
 
&quot;We were in production hell for the first six months of the year,&quot; Musk told analysts during a conference call. &quot;Man, it was hell. And we managed to climb out of hell partway through June and now the production line is humming and our suppliers mostly have their shit together.&quot; 
 
Musk warned he would fire suppliers and reorganize internal teams who fail to meet a target date of July 1 to begin production of the Model 3, even while acknowledging it will not be possible to meet that date.&nbsp; 
 
The company said it planned to open a new store every four days on average for the rest of the year, including in Taipei, Seoul and Mexico City, but did not disclose the cost. 
 
Excluding items, Tesla lost $1.06 per share in the three months ended June 30, wider than analysts&#39; expected loss of 52 cents per share, according to Thomson Reuters I/B/E/S.&nbsp; 
 
Tesla said its net quarterly loss widened to $293.2 million, or $2.09 per share, from $184.2 million, or $1.45 per share, a year earlier. Total revenue rose 33 per cent to $1.27 billion. 
 
Tesla said gross margins will improve by 2-3 percentage points in the second half of the year, although adjusted operating expenses will increase for the full year by 30 per cent. 
 
Musk sketched out an ambitious plan last month to venture into manufacturing electric trucks and buses, as well as expanding the company&#39;s solar energy business. 
 
He has cast the SolarCity tie-up as a long-term bet on a carbon-free energy and transportation company that provides cars, battery storage, solar panels, and other energy solutions&nbsp;while leveraging technology and cost savings from the combined entity. 
 
SolarCity&#39;s chairman and biggest shareholder, Musk has said the combined company will help save at least $150 million a year and require only a &quot;small equity capital raise&quot; next year. But some analysts are wary of the combination of two companies burning through huge amounts of cash. 
 
Tesla unveiled its massive battery factory, the Gigafactory, in Nevada last week, and on the conference call, Musk said he foresees &quot;exponential growth&quot; in Tesla`s storage battery business. 
 
(Reuters)

Silicon Valley electric carmaker reported the 13th straight quarterly loss while it takes on increasingly ambitious goals

Tesla Motors Inc reported a steeper than expected quarter loss on Wednesday on higher spending at its vehicle and battery factories and said adjusted profitability could be within sight if the company meets its delivery goals. The 13th straight quarterly loss for the Silicon Valley electric carmaker underscores the financial hurdles that hamper it while it takes on increasingly ambitious goals - a ten-fold ramp of vehicle production in three years and the recent plan to acquire solar panel installer, SolarCity Corp. Tesla, led by entrepreneur Elon Musk, said it was still on track to deliver about 50,000 new Model S and Model X vehicles during the second half of 2016, and reiterated that it would spend $2.25 billion in capital expenditures in 2016 to prepare for its upcoming Model 3 sedan. If the company can fulfil those production and delivery goals in the second half of the year, "we`ve got a great chance of being non-GAAP profitable," chief financial officer Jason Wheeler told analysts on a conference call without specifying a time period. Tesla reported its first-ever quarterly profit in 2013. Shares of the company, which had acquired SolarCity for $2.6 billion, were little changed in after-hours trading. "There's no doubt Tesla will remain the category leader as electric vehicles become increasingly mainstream, but it could be years before the bottom line justifies any investment in Tesla other than a purely speculative one," said James Brumley, InvestorPlace.com analyst. Tesla reported last month it had missed its vehicle delivery target for the second consecutive quarter, raising doubts it would hit its annual target. But Tesla could end the year just shy of its original delivery target of 80,000 to 90,000 vehicles for 2016 if it delivers 50,000 cars in the second half of 2016. "We were in production hell for the first six months of the year," Musk told analysts during a conference call. "Man, it was hell. And we managed to climb out of hell partway through June and now the production line is humming and our suppliers mostly have their shit together." Musk warned he would fire suppliers and reorganize internal teams who fail to meet a target date of July 1 to begin production of the Model 3, even while acknowledging it will not be possible to meet that date. The company said it planned to open a new store every four days on average for the rest of the year, including in Taipei, Seoul and Mexico City, but did not disclose the cost. Excluding items, Tesla lost $1.06 per share in the three months ended June 30, wider than analysts' expected loss of 52 cents per share, according to Thomson Reuters I/B/E/S. Tesla said its net quarterly loss widened to $293.2 million, or $2.09 per share, from $184.2 million, or $1.45 per share, a year earlier. Total revenue rose 33 per cent to $1.27 billion. Tesla said gross margins will improve by 2-3 percentage points in the second half of the year, although adjusted operating expenses will increase for the full year by 30 per cent. Musk sketched out an ambitious plan last month to venture into manufacturing electric trucks and buses, as well as expanding the company's solar energy business. He has cast the SolarCity tie-up as a long-term bet on a carbon-free energy and transportation company that provides cars, battery storage, solar panels, and other energy solutions while leveraging technology and cost savings from the combined entity. SolarCity's chairman and biggest shareholder, Musk has said the combined company will help save at least $150 million a year and require only a "small equity capital raise" next year. But some analysts are wary of the combination of two companies burning through huge amounts of cash. Tesla unveiled its massive battery factory, the Gigafactory, in Nevada last week, and on the conference call, Musk said he foresees "exponential growth" in Tesla`s storage battery business. (Reuters)

Tesla loss widens as company works to speed production

Tesla Motors Inc&#39;s &quot;master plan&quot; to broaden the electric vehicle maker&#39;s product line could cost &quot;tens of billions&quot; of dollars over time and would likely require a &quot;modest capital raise&quot;, chief executive Elon Musk said on Tuesday. 
 
Speaking at a formal unveiling of Tesla&#39;s $5 billion battery &quot;gigafactory&quot; outside Reno, Nevada, Musk said the new plant being jointly developed with Japan&#39;s Panasonic Corp could ultimately support 1.5 million electric vehicles a year. 
 
Musk said he was confident the partners could eventually lower battery costs to $100 per kilowatt-hour by 2020, well below estimates by competitors. 
 
The immediate plans call for Tesla&#39;s new Model 3 sedan, due out next year, to reach an annual production level of 500,000 by the end of 2018, Musk said. 
 
Eventually, he expects the Model 3, which will be priced from around $35,000, to generate $20 billion in revenue per year and $5 billion in gross profit. 
 
Last week Musk unveiled an ambitious plan to expand the company into electric trucks and buses, as well as car sharing. 
 
(Reuters)

Tesla's new plant, being jointly developed with Japan's Panasonic Corp, could support 1.5 million electric vehicles a year

Tesla Motors Inc's "master plan" to broaden the electric vehicle maker's product line could cost "tens of billions" of dollars over time and would likely require a "modest capital raise", chief executive Elon Musk said on Tuesday. Speaking at a formal unveiling of Tesla's $5 billion battery "gigafactory" outside Reno, Nevada, Musk said the new plant being jointly developed with Japan's Panasonic Corp could ultimately support 1.5 million electric vehicles a year. Musk said he was confident the partners could eventually lower battery costs to $100 per kilowatt-hour by 2020, well below estimates by competitors. The immediate plans call for Tesla's new Model 3 sedan, due out next year, to reach an annual production level of 500,000 by the end of 2018, Musk said. Eventually, he expects the Model 3, which will be priced from around $35,000, to generate $20 billion in revenue per year and $5 billion in gross profit. Last week Musk unveiled an ambitious plan to expand the company into electric trucks and buses, as well as car sharing. (Reuters)

Tesla's 'Gigafactory' master plan requires 'modest' capital raise, says company chief

Tesla Motors Inc and SolarCity Corp have made progress in putting together a deal that will merge the electric car maker and the solar panel installer, people familiar with the matter said. 
 
The two companies, which count billionaire Elon Musk as a major shareholder, are in the final stages of carrying out due diligence on each other, and could agree on the terms of a deal in the coming days, though it is still possible that their negotiations end unsuccessfully, the people said on Saturday. 
 
It could not be learned whether SolarCity would be successful in including a go-shop provision in a merger agreement with Tesla that would allow it to continue to solicit bids from other potential buyers for a short period of time. 
 
The sources asked not to be identified because the negotiations are confidential. Representatives for SolarCity and Tesla did not immediately respond to requests for comment. 
 
Tesla announced last month that it had made an all-stock offer for SolarCity worth $2.8 billion. It argued that by acquiring SolarCity, the two companies would form a one-stop clean energy shop, offering consumers solar panels, home battery storage and electric cars under a single trusted brand. 
 
SolarCity has not publicly revealed its views on Tesla&#39;s offer since it announced on June 27 that it had formed a special committee consisting of two board members to evaluate the offer. The committee said it had retained legal and financial advisers and would review the proposal against SolarCity&#39;s standalone prospects and a broad range of strategic alternatives. 
 
As chief executive of Tesla, chairman of SolarCity and the biggest shareholder in both companies, Musk has recused himself from voting on the deal at both companies. Several Tesla and SolarCity executives, including Musk&#39;s cousins SolarCity CEO Lyndon Rive and SolarCity board member Peter Rive, have also recused themselves from voting. 
 
Elon Musk said on July 20 when he revealed his master plan &quot;part deux&quot; for Tesla that he is looking to create a &quot;smoothly integrated and beautiful solar-roof-with-battery product.&quot; 
 
&quot;We can&#39;t do this well if Tesla and SolarCity are different companies, which is why we need to combine and break down the barriers inherent to being separate companies,&quot; Musk said. 
 
(Reuters)

The two companies are in the final stages of carrying out due diligence on each other, but failure of negotiations is still a possibility

Tesla Motors Inc and SolarCity Corp have made progress in putting together a deal that will merge the electric car maker and the solar panel installer, people familiar with the matter said. The two companies, which count billionaire Elon Musk as a major shareholder, are in the final stages of carrying out due diligence on each other, and could agree on the terms of a deal in the coming days, though it is still possible that their negotiations end unsuccessfully, the people said on Saturday. It could not be learned whether SolarCity would be successful in including a go-shop provision in a merger agreement with Tesla that would allow it to continue to solicit bids from other potential buyers for a short period of time. The sources asked not to be identified because the negotiations are confidential. Representatives for SolarCity and Tesla did not immediately respond to requests for comment. Tesla announced last month that it had made an all-stock offer for SolarCity worth $2.8 billion. It argued that by acquiring SolarCity, the two companies would form a one-stop clean energy shop, offering consumers solar panels, home battery storage and electric cars under a single trusted brand. SolarCity has not publicly revealed its views on Tesla's offer since it announced on June 27 that it had formed a special committee consisting of two board members to evaluate the offer. The committee said it had retained legal and financial advisers and would review the proposal against SolarCity's standalone prospects and a broad range of strategic alternatives. As chief executive of Tesla, chairman of SolarCity and the biggest shareholder in both companies, Musk has recused himself from voting on the deal at both companies. Several Tesla and SolarCity executives, including Musk's cousins SolarCity CEO Lyndon Rive and SolarCity board member Peter Rive, have also recused themselves from voting. Elon Musk said on July 20 when he revealed his master plan "part deux" for Tesla that he is looking to create a "smoothly integrated and beautiful solar-roof-with-battery product." "We can't do this well if Tesla and SolarCity are different companies, which is why we need to combine and break down the barriers inherent to being separate companies," Musk said. (Reuters)

One-stop clean energy shop: Tesla, SolarCity merger in the offing

Tesla Motors Inc CEO Elon Musk on Sunday tweeted his intention to soon publish part two of his &#39;top secret Tesla masterplan&#39; following an embattled several weeks for the Silicon Valley heavyweight. 
 
The tweet, which read &#39;Working on Top Secret Tesla Masterplan, Part 2. Hoping to publish later this week&#39; comes amid inquiries into two crashes of Tesla cars, as well as ongoing questions regarding Musk&#39;s plans to combine his electric vehicle company, Tesla, with his solar panel-maker company, SolarCity Corp. 
 
On July 1, a driver of a Tesla Model X in Pennsylvania crashed into a turnpike. The National Highway Traffic Safety Administration (NHTSA) announced last week that it is investigating the crash &#39;to determine whether automated functions were in use at the time of the crash.&#39; 
 
Tesla has said, &quot;Based on the information we have now, we have no reason to believe that Autopilot had anything to do with this accident.&quot; 
 
The crash came on the heels of NHTSA&#39;s disclosure it was investigating a May 7 crash in Florida that killed the driver of a Tesla Model S that was operating in Autopilot mode. 
 
The Tesla Autopilot system allows the car to keep itself in a lane, maintain speed and operate for a limited time without a driver doing the steering. 
 
Last month, Tesla proposed to buy SolarCity over which Musk serves as chairman and principal shareholder. Musk expects the deal will help Tesla get into the market for sustainable energy for homes and businesses. 
 
Jim Chanos of Kynikos Associates has called the proposed acquisition &#39;shameful example of corporate governance at its worst.&#39; 
 
(Reuters)

Tesla founder tweets 'Working on Top Secret Tesla Masterplan, Part 2. Hoping to publish later this week'

Tesla Motors Inc CEO Elon Musk on Sunday tweeted his intention to soon publish part two of his 'top secret Tesla masterplan' following an embattled several weeks for the Silicon Valley heavyweight. The tweet, which read 'Working on Top Secret Tesla Masterplan, Part 2. Hoping to publish later this week' comes amid inquiries into two crashes of Tesla cars, as well as ongoing questions regarding Musk's plans to combine his electric vehicle company, Tesla, with his solar panel-maker company, SolarCity Corp. On July 1, a driver of a Tesla Model X in Pennsylvania crashed into a turnpike. The National Highway Traffic Safety Administration (NHTSA) announced last week that it is investigating the crash 'to determine whether automated functions were in use at the time of the crash.' Tesla has said, "Based on the information we have now, we have no reason to believe that Autopilot had anything to do with this accident." The crash came on the heels of NHTSA's disclosure it was investigating a May 7 crash in Florida that killed the driver of a Tesla Model S that was operating in Autopilot mode. The Tesla Autopilot system allows the car to keep itself in a lane, maintain speed and operate for a limited time without a driver doing the steering. Last month, Tesla proposed to buy SolarCity over which Musk serves as chairman and principal shareholder. Musk expects the deal will help Tesla get into the market for sustainable energy for homes and businesses. Jim Chanos of Kynikos Associates has called the proposed acquisition 'shameful example of corporate governance at its worst.' (Reuters)

Musk hints at top secret Tesla masterplan

Tesla Motors Inc.&nbsp;may source batteries from Samsung SDI Co Ltd.&nbsp;for its energy systems in homes, companies and utilities, rather than for its electric cars, the US&nbsp;company&#39;s chief executive Elon Musk&nbsp;said on Wednesday.

Shares of Samsung SDI, an affiliate of Samsung Electronics Co Ltd, rebounded three&nbsp;per cent early Thursday.

The stock had fallen eight&nbsp;per cent on Wednesday after Elon Musk tweeted that Tesla was working exclusively with longtime partner Panasonic Corporation&nbsp;to supply batteries for its upcoming Model 3, the company&#39;s first mass-market car. Panasonic shares rallied nearly four&nbsp;per cent on Wednesday after his comments.

Asked in a tweet whether Samsung batteries might be used in Tesla Energy, Musk&nbsp;responded, &quot;yes.&quot;

The company launched Tesla Energy storage systems last year to expand its&nbsp;business&nbsp;beyond electric vehicles into supplying energy for homes and&nbsp;businesses.

Samsung SDI spokesperson&nbsp;declined to comment.

Reuters reported on Tuesday&nbsp;that Samsung SDI was making progress in talks with Tesla to supply batteries for the Model 3, as well as Tesla&#39;s energy storage products.

Reuters&#39;&nbsp;source said Tesla planned to initially use Panasonic as the sole supplier for Model 3 and might add Samsung SDI if and when Tesla&#39;s battery plant is unable to meet demand.

Tesla has taken 373,000 orders for the Model 3, which has a starting price of $35,000, about half the price of&nbsp;its luxury Model S liftback sedan. It has said it would begin customer deliveries in late 2017.

Citing &quot;tremendous demand,&quot; Musk said in April that Tesla planned to boost total vehicle production to 500,000 in 2018, two years ahead of its original target. Suppliers have said the goal would be difficult to achieve.

Panasonic said last month it was ready, if necessary, to speed up its investment in Tesla&#39;s $5 billion Gigafactory battery plant to meet demand for the Model 3.

The Japanese company plans to contribute $1.6 billion to the plant in phases over the next few years.

Tesla CEO confirmed in a tweet query that Samsung batteries might be used in Tesla energy

Tesla Motors Inc. may source batteries from Samsung SDI Co Ltd. for its energy systems in homes, companies and utilities, rather than for its electric cars, the US company's chief executive Elon Musk said on Wednesday. Shares of Samsung SDI, an affiliate of Samsung Electronics Co Ltd, rebounded three per cent early Thursday. The stock had fallen eight per cent on Wednesday after Elon Musk tweeted that Tesla was working exclusively with longtime partner Panasonic Corporation to supply batteries for its upcoming Model 3, the company's first mass-market car. Panasonic shares rallied nearly four per cent on Wednesday after his comments. Asked in a tweet whether Samsung batteries might be used in Tesla Energy, Musk responded, "yes." The company launched Tesla Energy storage systems last year to expand its business beyond electric vehicles into supplying energy for homes and businesses. Samsung SDI spokesperson declined to comment. Reuters reported on Tuesday that Samsung SDI was making progress in talks with Tesla to supply batteries for the Model 3, as well as Tesla's energy storage products. Reuters' source said Tesla planned to initially use Panasonic as the sole supplier for Model 3 and might add Samsung SDI if and when Tesla's battery plant is unable to meet demand. Tesla has taken 373,000 orders for the Model 3, which has a starting price of $35,000, about half the price of its luxury Model S liftback sedan. It has said it would begin customer deliveries in late 2017. Citing "tremendous demand," Musk said in April that Tesla planned to boost total vehicle production to 500,000 in 2018, two years ahead of its original target. Suppliers have said the goal would be difficult to achieve. Panasonic said last month it was ready, if necessary, to speed up its investment in Tesla's $5 billion Gigafactory battery plant to meet demand for the Model 3. The Japanese company plans to contribute $1.6 billion to the plant in phases over the next few years.

Tesla CEO may source Samsung battery for energy storage products

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