Vietnamese electric vehicle manufacturer Vinfast has ignited a frenzy in the market. Shares of the company surged a staggering 21% in a single day, marking a continuation of the electric automaker's whirlwind ascent. With its valuation now surpassing $160 billion, Vinfast has established itself as the third-most valuable player in the auto industry, trailing only Tesla and Toyota.

Vinfast: EV maker's shares surge 21% in market rally

Elon Musk's Tesla Inc will soon defend itself for the first time against allegations that the company's Autopilot driver assistant feature led to the death of multiple people.

The upcoming trial as per Reuters will be a major test of Tesla Chief Executive Musk's assertions about the technology.

<h2>The trials and Tesla</h2>

Tesla currently faces two trials, however, more are likely to follow.&nbsp;

The first, a civil lawsuit, is scheduled for mid-September at a California state court. It alleges that Tesla's autopilot system caused a man named Micah Lee's Model 3 vehicle to suddenly veer off a highway east of Los Angeles. As per the lawsuit, Tesla knowingly sold the car with defective safety systems.

Also read |&nbsp;<a href="https://www.wionews.com/trending/indian-origin-executives-shine-across-global-corporations-this-is-how-elon-musk-reacted-629698">Indian-origin executives shine across global corporations. This is how Elon Musk reacted</a>

In 2019, the car which was travelling at the speed of 65 miles per hour, in a matter of seconds, crashed into a palm tree and burst into flames. The crash killed Lee, while the other two passengers, including an 8-year-old boy, were seriously injured.

The second trial is scheduled for October in a Florida state court. This one, also from 2019, caused Stephen Banner's Model 3 to drive under an 18-wheeler big rig truck, which sheared off the Tesla's roof and killed the owner.&nbsp;

<h2>What Tesla has to say</h2>

Tesla has repeatedly denied liability in both accidents and has blamed driver error. Musk's company says that "there are no self-driving cars on the road today," and claims that the Autopilot feature is safe when monitored by humans. In the Lee case, it also claimed that the driver (Lee) was driving under the influence of alcohol.

Reuters reports that these civil proceedings will probably reveal fresh evidence about what Musk and Tesla knew about the Autopilot feature's capabilities and deficiencies.

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Previously in April, Tesla won a bellwether trial — a small consolidation of similar cases taken from a larger group and tried first. The company at the time claimed that it told its drivers that despite the 'Autopilot' and Full Self-Driving' names, the technology requires human monitoring.

As per experts in the upcoming cases, the stakes are high for Tesla. "If Tesla backs up a lot of wins in these cases, I think they're going to get more favourable settlements in other cases," suggested Matthew Wansley, former General Counsel at nuTonomy, an automated driving startup, and currently an Associate Professor of Law at the Cardozo School of Law.

Bryant Walker Smith, a law professor at the University of South Carolina, says that "a big loss for Tesla, especially with a big damages award" could "dramatically shape the narrative going forward."

(With inputs from agencies)

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Elon Musk's Tesla Inc will soon defend itself for the first time against allegations that the company's Autopilot driver assistant feature led to the death of multiple people.

Elon Musk's Tesla Inc will soon defend itself for the first time against allegations that the company's Autopilot driver assistant feature led to the death of multiple people. The upcoming trial as per Reuters will be a major test of Tesla Chief Executive Musk's assertions about the technology. The trials and Tesla Tesla currently faces two trials, however, more are likely to follow. The first, a civil lawsuit, is scheduled for mid-September at a California state court. It alleges that Tesla's autopilot system caused a man named Micah Lee's Model 3 vehicle to suddenly veer off a highway east of Los Angeles. As per the lawsuit, Tesla knowingly sold the car with defective safety systems. Also read | Indian-origin executives shine across global corporations. This is how Elon Musk reacted In 2019, the car which was travelling at the speed of 65 miles per hour, in a matter of seconds, crashed into a palm tree and burst into flames. The crash killed Lee, while the other two passengers, including an 8-year-old boy, were seriously injured. The second trial is scheduled for October in a Florida state court. This one, also from 2019, caused Stephen Banner's Model 3 to drive under an 18-wheeler big rig truck, which sheared off the Tesla's roof and killed the owner. What Tesla has to say Tesla has repeatedly denied liability in both accidents and has blamed driver error. Musk's company says that "there are no self-driving cars on the road today," and claims that the Autopilot feature is safe when monitored by humans. In the Lee case, it also claimed that the driver (Lee) was driving under the influence of alcohol. Reuters reports that these civil proceedings will probably reveal fresh evidence about what Musk and Tesla knew about the Autopilot feature's capabilities and deficiencies. Also read | Saudi Arabia to execute man for criticising government on X account with only nine followers Previously in April, Tesla won a bellwether trial — a small consolidation of similar cases taken from a larger group and tried first. The company at the time claimed that it told its drivers that despite the 'Autopilot' and Full Self-Driving' names, the technology requires human monitoring. As per experts in the upcoming cases, the stakes are high for Tesla. "If Tesla backs up a lot of wins in these cases, I think they're going to get more favourable settlements in other cases," suggested Matthew Wansley, former General Counsel at nuTonomy, an automated driving startup, and currently an Associate Professor of Law at the Cardozo School of Law. Bryant Walker Smith, a law professor at the University of South Carolina, says that "a big loss for Tesla, especially with a big damages award" could "dramatically shape the narrative going forward." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk's Tesla in hot seat, faces trials over Autopilot safety concerns

India is working on a new electric vehicle policy that would slash import taxes for automakers that commit to some local manufacturing, following a proposal by Tesla&nbsp;which is considering entering the domestic market, people with direct knowledge said.

The policy being considered could allow automakers to import fully-built EVs into India at a reduced tax as low as 15 per cent, compared to the current 100 per cent that applies to cars which cost above $40,000 and 70 per cent for the rest, said two of the sources, including a senior Indian government official.

Tesla's best-selling Model Y, for example, starts at $47,740 in the U.S. before tax credits.

"There is an understanding with Tesla's proposal and government is showing interest," said the official, who is familiar with the issue.

India's commerce and finance ministries, and Tesla, did not respond to requests for comment.

If such a policy is adopted, it could amount to a drastic reduction in the cost of imported EVs that local carmakers have been keen to avoid. It could also open the door for global automakers, beyond Tesla, to tap the world's third-largest car market where sales of EVs are less than 2 per cent of total car sales, but growing rapidly.

The lower import taxes could help Tesla sell its full range of models in India, and not just the new car it wants to make locally, said a third source.

Shares of Tata Motors, India's largest electric car manufacturer, fell nearly 3 per cent on the Reuters report, while rival Mahindra and Mahindra&nbsp;dropped over 2 per cent, dragging the benchmark auto index to an intra-day low with losses of 1.1 per&nbsp;cent.

New Delhi is going to move slowly in considering the policy proposal as any lowering of taxes on imported EVs could disrupt the market and upset local players like Tata and Mahindra that are investing to build electric cars at home, the Indian official said.

"This is going to go through a lot of deliberations even though government is keen on getting Tesla. That's because of the impact on domestic players," said the official.

The policy is still in the initial stages of deliberation and the final tax rate could change, the sources said.

<h2 data-testid="Heading">Tesla's new EV</h2>

Other countries have taken similar measures to spur EV manufacturing commitments.&nbsp; Indonesia, for example, has offered to reduce import duties from 50% to zero for EV makers planning investments, a move seen aimed at attracting Chinese players and Tesla.

Tesla first tried to enter India in 2021 by pushing officials to lower the 100 per cent&nbsp;import tax for EVs. Last year, the talks between Tesla and the Indian government collapsed when officials conveyed the company would have to first commit to local manufacturing.

More recently, Tesla has told Indian officials it is keen to set up a local factory and make a&nbsp;new EV&nbsp;priced around $24,000, roughly 25% cheaper than its current entry model, for both the Indian market and export.

Tesla's senior public policy and business development executive Rohan Patel has in recent weeks&nbsp;met top officials&nbsp;privately. Prime Minister Narendra Modi, who held&nbsp;talks with CEO Elon Musk&nbsp;in June, has been tracking progress closely, Reuters has reported.

Indian officials conveyed there will be no special incentives for Tesla's market entry, and the proposal for a low import tax, conditional on a manufacturing commitment, was touted by Tesla to keep both sides happy, the sources said.

One of the sources said Tesla told Indian officials a potential India factory could operate at full capacity by 2030.

Outside the United States, Tesla currently has a plant in Shanghai — its largest factory worldwide — and one outside Berlin. It is building a new plant in Mexico that will focus on a new mass-market EV platform Musk has said will slash costs for consumers.

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India is working on a new electric vehicle policy that would slash import taxes for automakers that commit to some local manufacturing, following a proposal by Tesla which is considering entering the domestic market, people with direct knowledge said.

India is working on a new electric vehicle policy that would slash import taxes for automakers that commit to some local manufacturing, following a proposal by Tesla which is considering entering the domestic market, people with direct knowledge said. The policy being considered could allow automakers to import fully-built EVs into India at a reduced tax as low as 15 per cent, compared to the current 100 per cent that applies to cars which cost above $40,000 and 70 per cent for the rest, said two of the sources, including a senior Indian government official. Tesla's best-selling Model Y, for example, starts at $47,740 in the U.S. before tax credits. "There is an understanding with Tesla's proposal and government is showing interest," said the official, who is familiar with the issue. India's commerce and finance ministries, and Tesla, did not respond to requests for comment. If such a policy is adopted, it could amount to a drastic reduction in the cost of imported EVs that local carmakers have been keen to avoid. It could also open the door for global automakers, beyond Tesla, to tap the world's third-largest car market where sales of EVs are less than 2 per cent of total car sales, but growing rapidly. The lower import taxes could help Tesla sell its full range of models in India, and not just the new car it wants to make locally, said a third source. Shares of Tata Motors, India's largest electric car manufacturer, fell nearly 3 per cent on the Reuters report, while rival Mahindra and Mahindra dropped over 2 per cent, dragging the benchmark auto index to an intra-day low with losses of 1.1 per cent. New Delhi is going to move slowly in considering the policy proposal as any lowering of taxes on imported EVs could disrupt the market and upset local players like Tata and Mahindra that are investing to build electric cars at home, the Indian official said. "This is going to go through a lot of deliberations even though government is keen on getting Tesla. That's because of the impact on domestic players," said the official. The policy is still in the initial stages of deliberation and the final tax rate could change, the sources said. Tesla's new EV Other countries have taken similar measures to spur EV manufacturing commitments. Indonesia, for example, has offered to reduce import duties from 50% to zero for EV makers planning investments, a move seen aimed at attracting Chinese players and Tesla. Tesla first tried to enter India in 2021 by pushing officials to lower the 100 per cent import tax for EVs. Last year, the talks between Tesla and the Indian government collapsed when officials conveyed the company would have to first commit to local manufacturing. More recently, Tesla has told Indian officials it is keen to set up a local factory and make a new EV priced around $24,000, roughly 25% cheaper than its current entry model, for both the Indian market and export. Tesla's senior public policy and business development executive Rohan Patel has in recent weeks met top officials privately. Prime Minister Narendra Modi, who held talks with CEO Elon Musk in June, has been tracking progress closely, Reuters has reported. Indian officials conveyed there will be no special incentives for Tesla's market entry, and the proposal for a low import tax, conditional on a manufacturing commitment, was touted by Tesla to keep both sides happy, the sources said. One of the sources said Tesla told Indian officials a potential India factory could operate at full capacity by 2030. Outside the United States, Tesla currently has a plant in Shanghai — its largest factory worldwide — and one outside Berlin. It is building a new plant in Mexico that will focus on a new mass-market EV platform Musk has said will slash costs for consumers. WATCH WION LIVE HERE

With Tesla push, India mulls import tax cut if EV makers build locally

Tesla is selling Cybertruck-themed cat beds in China. The products resemble the design of Tesla's Cybertruck. Molly Gambhir brings you a report.

Gravitas: Tesla is selling Cybertruck-themed cat beds in China

Elon Musk's Tesla has taken an eccentric turn by introducing a novel cat bed in China, known as the "Cybertruck multifunctional corrugated cat litter."

This peculiar offering, crafted entirely from cardboard, mimics the design aesthetics of Tesla's upcoming Cybertruck, reported the New York Post.&nbsp;

Priced at 89 Chinese Yuan (approximately $12), the cat bed's design emulates the distinctive angles seen in Tesla's anticipated electric vehicle.

The product listing on Tesla's Chinese website highlights the bed's "futuristic shape" and "semi-open cat litter," providing a practical yet stylish option for cat owners.

<h2>Unique features and assembly</h2>

The cat bed comes complete with a built-in "scratch board," composed of robust and moisture-resistant corrugated paper.

As a DIY item, owners are required to assemble the bed, engaging in a creative process that adds a personal touch to the pet's living space.

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<h2>Tesla's tradition of unconventional products</h2>

Tesla's venture into the realm of quirky merchandise is not new. The company has a history of introducing unrelated products alongside its core electric vehicle offerings. Examples include the "Tesla Tequila," a premium liquor with a price tag of $420 per bottle, and the stainless steel "Cyberwhistle," purchasable exclusively with dogecoin, Musk's favoured cryptocurrency meme token.

Additional offbeat items in Tesla's catalogue include&nbsp;a $100 "Giga Texas Belt Buckle" adorned with the phrase "Don't mess with Tesla," a $60 Tesla umbrella, and a $70 Tesla branding iron.

Also watch |&nbsp;Musk vs Mark: Elon Musk tweets update on cage match with Meta owner, Mark Zuckerberg

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Elon Musk's penchant for unconventional products extends beyond Tesla. The Boring Company, his tunnel-construction public transit enterprise, gained attention in 2018 by selling $500 flamethrowers that swiftly sold out.

Tesla's debut Cybertruck recently rolled off the production line at its Austin plant, marking a significant milestone after encountering several years of delays. The anticipated release of the Cybertruck for sale is expected later this year, with Musk aiming to manufacture over 250,000 units annually, contingent upon market demand.

&nbsp;

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Elon Musk's Tesla has taken an eccentric turn by introducing a novel cat bed in China, known as the "Cybertruck multifunctional corrugated cat litter." This peculiar offering, crafted entirely from cardboard, mimics the design aesthetics of Tesla's upcoming Cybertruck, reported the New York Post.

Elon Musk's Tesla has taken an eccentric turn by introducing a novel cat bed in China, known as the "Cybertruck multifunctional corrugated cat litter." This peculiar offering, crafted entirely from cardboard, mimics the design aesthetics of Tesla's upcoming Cybertruck, reported the New York Post. Priced at 89 Chinese Yuan (approximately $12), the cat bed's design emulates the distinctive angles seen in Tesla's anticipated electric vehicle. The product listing on Tesla's Chinese website highlights the bed's "futuristic shape" and "semi-open cat litter," providing a practical yet stylish option for cat owners. Unique features and assembly The cat bed comes complete with a built-in "scratch board," composed of robust and moisture-resistant corrugated paper. As a DIY item, owners are required to assemble the bed, engaging in a creative process that adds a personal touch to the pet's living space. Also read | It's on: Elon Musk shares details of fight with Zuckerberg, to be livestreamed on X Tesla's tradition of unconventional products Tesla's venture into the realm of quirky merchandise is not new. The company has a history of introducing unrelated products alongside its core electric vehicle offerings. Examples include the "Tesla Tequila," a premium liquor with a price tag of $420 per bottle, and the stainless steel "Cyberwhistle," purchasable exclusively with dogecoin, Musk's favoured cryptocurrency meme token. Additional offbeat items in Tesla's catalogue include a $100 "Giga Texas Belt Buckle" adorned with the phrase "Don't mess with Tesla," a $60 Tesla umbrella, and a $70 Tesla branding iron. Also watch | Musk vs Mark: Elon Musk tweets update on cage match with Meta owner, Mark Zuckerberg Elon Musk's penchant for unconventional products extends beyond Tesla. The Boring Company, his tunnel-construction public transit enterprise, gained attention in 2018 by selling $500 flamethrowers that swiftly sold out. Tesla's debut Cybertruck recently rolled off the production line at its Austin plant, marking a significant milestone after encountering several years of delays. The anticipated release of the Cybertruck for sale is expected later this year, with Musk aiming to manufacture over 250,000 units annually, contingent upon market demand. WATCH WION LIVE HERE:

Tesla's 'purr'fect twist: Musk's company rolls out cardboard 'cybertruck' cat beds in China

A 13-year veteran at the electric car giant, Tesla and a potential successor to CEO Elon Musk stepped down from his role.

Tesla's finance chief exits, Taneja named new CFO

As Tesla considers constructing a manufacturing plant in India, officials have requested the company to follow Apple’s lead in finding Indian companies to collaborate with any Chinese suppliers involved.

Tesla has been in talks with the Indian government over the past few weeks about building a facility to manufacture economically affordable electric vehicles (EVs) for both the domestic market and exports.

Tesla CEO Elon Musk wants to expand the company’s activities outside of China, where regulatory approvals for expansion are slow.

But Tesla’s plans to work with Chinese suppliers may be halted due to tense relations between China and India, according to Reuters.

Chinese suppliers may be crucial if Tesla were to open a facility in India and control prices to produce a low-cost EV. Even India’s largest EV manufacturer, Tata Motors, imports battery cells from China since the country has limited local producers for such components.

According to a report published in The Print, Tesla executives told the Indian government that it wanted some of its Chinese vendors to establish local bases to strengthen its supply chain.

In response, officials informed Tesla that approving wholly-owned Chinese corporations in India could be complex as Chinese companies have been subject to severe scrutiny after a border dispute between the two nations in 2020.

Reports suggest that Indian officials asked Tesla to adopt Apple’s strategy. The world’s largest manufacturer of smartphones recently received permits to bring Chinese suppliers to India after locating local joint-venture (JV) partners. With a rapidly expanding supply chain, Apple assembles its iPhones in India using Taiwan’s tech giant, Foxconn.

According to one of the government sources, New Delhi has recently approved certain JV arrangements between Chinese suppliers and Indian businesses on a case-to-case basis. However, India is still reluctant to let Chinese businesses, particularly involved with automobiles, to operate in the country.

(With inputs from Reuters)

&nbsp;

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As Tesla considers constructing a manufacturing plant in India, officials have requested the company to follow Apple’s lead in finding Indian companies to collaborate with any Chinese suppliers involved.

As Tesla considers constructing a manufacturing plant in India, officials have requested the company to follow Apple’s lead in finding Indian companies to collaborate with any Chinese suppliers involved. Tesla has been in talks with the Indian government over the past few weeks about building a facility to manufacture economically affordable electric vehicles (EVs) for both the domestic market and exports. Tesla CEO Elon Musk wants to expand the company’s activities outside of China, where regulatory approvals for expansion are slow. But Tesla’s plans to work with Chinese suppliers may be halted due to tense relations between China and India, according to Reuters. Chinese suppliers may be crucial if Tesla were to open a facility in India and control prices to produce a low-cost EV. Even India’s largest EV manufacturer, Tata Motors, imports battery cells from China since the country has limited local producers for such components. According to a report published in The Print, Tesla executives told the Indian government that it wanted some of its Chinese vendors to establish local bases to strengthen its supply chain. In response, officials informed Tesla that approving wholly-owned Chinese corporations in India could be complex as Chinese companies have been subject to severe scrutiny after a border dispute between the two nations in 2020. Reports suggest that Indian officials asked Tesla to adopt Apple’s strategy. The world’s largest manufacturer of smartphones recently received permits to bring Chinese suppliers to India after locating local joint-venture (JV) partners. With a rapidly expanding supply chain, Apple assembles its iPhones in India using Taiwan’s tech giant, Foxconn. According to one of the government sources, New Delhi has recently approved certain JV arrangements between Chinese suppliers and Indian businesses on a case-to-case basis. However, India is still reluctant to let Chinese businesses, particularly involved with automobiles, to operate in the country. (With inputs from Reuters) WATCH WION LIVE HERE

Govt asks Tesla to copy Apple’s strategy to make in India: Report  

In March, Alexandre Ponsin set out on a family road trip from Colorado to California in his newly purchased Tesla, a used 2021 Model 3. He expected to get something close to the electric sport sedan’s advertised driving range: 353 miles on a fully charged battery.

In March, Alexandre Ponsin set out on a family road trip from Colorado to California in his newly purchased Tesla, a used 2021 Model 3. He expected to get something close to the electric sport sedan’s advertised driving range: 353 miles on a fully charged battery. He soon realized he was sometimes getting less than half that much range, particularly in cold weather – such severe underperformance that he was convinced the car had a serious defect. “We’re looking at the range, and you literally see the number decrease in front of your eyes,” he said of his dashboard range meter. Ponsin contacted Tesla and booked a service appointment in California. He later received two text messages, telling him that “remote diagnostics” had determined his battery was fine, and then: “We would like to cancel your visit.” What Ponsin didn’t know was that Tesla employees had been instructed to thwart any customers complaining about poor driving range from bringing their vehicles in for service. Last summer, the company quietly created a “Diversion Team” in Las Vegas to cancel as many range-related appointments as possible. The Austin, Texas-based electric carmaker deployed the team because its service centres were inundated with appointments from owners who had expected better performance based on the company’s advertised estimates and the projections displayed by the in-dash range meters of the cars themselves, according to several people familiar with the matter. Inside the Nevada team’s office, some employees celebrated cancelling service appointments by putting their phones on mute and striking a metal xylophone, triggering applause from coworkers who sometimes stood on desks. The team often closed hundreds of cases a week and staffers were tracked on their average number of diverted appointments per day. Managers told the employees that they were saving Tesla about $1,000 for every canceled appointment, the people said. Another goal was to ease the pressure on service centres, some of which had long waits for appointments. In most cases, the complaining customers’ cars likely did not need repair, according to the people familiar with the matter. Rather, Tesla created the groundswell of complaints another way – by hyping the range of its futuristic electric vehicles, or EVs, raising consumer expectations beyond what the cars can deliver. Teslas often fail to achieve their advertised range estimates and the projections provided by the cars’ own equipment, according to Reuters interviews with three automotive experts who have tested or studied the company’s vehicles. Neither Tesla nor its Chief Executive Elon Musk responded to detailed questions from Reuters for this story. Tesla years ago began exaggerating its vehicles’ potential driving distance – by rigging their range-estimating software. The company decided about a decade ago, for marketing purposes, to write algorithms for its range meter that would show drivers “rosy” projections for the distance it could travel on a full battery, according to a person familiar with an early design of the software for its in-dash readouts. Then, when the battery fell below 50% of its maximum charge, the algorithm would show drivers more realistic projections for their remaining driving range, this person said. To prevent drivers from getting stranded as their predicted range started declining more quickly, Teslas were designed with a “safety buffer,” allowing about 15 miles (24 km) of additional range even after the dash readout showed an empty battery, the source said. The directive to present the optimistic range estimates came from Tesla Chief Executive Elon Musk, this person said. “Elon wanted to show good range numbers when fully charged,” the person said, adding: “When you buy a car off the lot seeing 350-mile, 400-mile range, it makes you feel good.” Tesla’s intentional inflation of in-dash range-meter projections and the creation of its range-complaints diversion team have not been previously reported. Driving range is among the most important factors in consumer decisions on which electric car to buy, or whether to buy one at all. So-called range anxiety – the fear of running out of power before reaching a charger – has been a primary obstacle to boosting electric-vehicle sales. At the time Tesla programmed in the rosy range projections, it was selling only two models: the two-door Roadster, its first vehicle, which was later discontinued; and the Model S, a luxury sport sedan launched in 2012. It now sells four models: two cars, the 3 and S; and two crossover SUVs, the X and Y. Tesla plans the return of the Roadster, along with a “Cybertruck” pickup. Reuters could not determine whether Tesla still uses algorithms that boost in-dash range estimates. But automotive testers and regulators continue to flag the company for exaggerating the distance its vehicles can travel before their batteries run out. Tesla was fined earlier this year by South Korean regulators who found the cars delivered as little as half their advertised range in cold weather. Another recent study found that three Tesla models averaged 26% below their advertised ranges. The US Environmental Protection Agency (EPA) has required Tesla since the 2020 model year to reduce the range estimates the automaker wanted to advertise for six of its vehicles by an average of 3%. The EPA told Reuters, however, that it expects some variation between the results of separate tests conducted by automakers and the agency. Data collected in 2022 and 2023 from more than 8,000 Teslas by Recurrent, a Seattle-based EV analytics company, showed that the cars’ dashboard range meters didn’t change their estimates to reflect hot or cold outside temperatures, which can greatly reduce range. Recurrent found that Tesla’s four models almost always calculated that they could travel more than 90% of their advertised EPA range estimates regardless of external temperatures. Scott Case, Recurrent’s chief executive, told Reuters that Tesla’s range meters also ignore many other conditions affecting driving distance. Electric cars can lose driving range for a lot of the same reasons as gasoline cars — but to a greater degree. The cold is a particular drag on EVs, slowing the chemical and physical reactions inside their batteries and requiring a heating system to protect them. Other drains on the battery include hilly terrain, headwinds, a driver’s lead foot and running the heating or air-conditioning inside the cabin. Tesla discusses the general effect of such conditions in a “Range Tips” section of its website. The automaker also recently updated its vehicle software to provide a breakdown of battery consumption during recent trips with suggestions on how range might have been improved. Tesla vehicles provide range estimates in two ways: One through a dashboard meter of current range that’s always on, and a second projection through its navigation system, which works when a driver inputs a specific destination. The navigation system’s range estimate, Case said, does account for a wider set of conditions, including temperature. While those estimates are “more realistic,” they still tend to overstate the distance the car can travel before it needs to be recharged, he said. Recurrent tested other automakers’ in-dash range meters – including the Ford Mustang Mach-E, the Chevrolet Bolt and the Hyundai Kona – and found them to be more accurate. The Kona’s range meter generally underestimated the distance the car could travel, the tests showed. Recurrent conducted the study with the help of a National Science Foundation grant. Tesla, Case said, has consistently designed the range meters in its cars to deliver aggressive rather than conservative estimates: “That’s where Tesla has taken a different path from most other automakers.” Failed tests and false advertising Tesla isn’t the only automaker with cars that don’t regularly achieve their advertised ranges. One of the experts, Gregory Pannone, co-authored a study of 21 different brands of electric vehicles, published in April by SAE International, an engineering organization. The research found that, on average, the cars fell short of their advertised ranges by 12.5% in highway driving. The study did not name the brands tested, but Pannone told Reuters that three Tesla models posted the worst performance, falling short of their advertised ranges by an average of 26%. The EV pioneer pushes the limits of government testing regulations that govern the claims automakers put on window stickers, the three automotive experts told Reuters. Like their gas-powered counterparts, new electric vehicles are required by US federal law to display a label with fuel-efficiency information. In the case of EVs, this is stated in miles-per-gallon equivalent (MPGe), allowing consumers to compare them to gasoline or diesel vehicles. The labels also include estimates of total range: how far an EV can travel on a full charge, in combined city and highway driving. EV makers have a choice in how to calculate a model’s range. They can use a standard EPA formula that converts fuel-economy results from city and highway driving tests to calculate a total range figure. Or automakers can conduct additional tests to come up with their own range estimate. The only reason to conduct more tests is to generate a more favorable estimate, said Pannone, a retired auto-industry veteran. Tesla conducts additional range tests on all of its models. By contrast, many other automakers, including Ford, Mercedes and Porsche, continue to rely on the EPA’s formula to calculate potential range, according to agency data for 2023 models. That generally produces more conservative estimates, Pannone said. Mercedes-Benz told Reuters it uses the EPA’s formula because it believes it provides a more accurate estimate. “We follow a certification strategy that reflects the real-world driving behavior of our customers in the best possible way,” the German carmaker said in a statement. Ford and Porsche didn’t respond to requests for comment. Whatever an automaker decides, the EPA must approve the window-sticker numbers. The agency told Reuters it conducts its own tests on 15% to 20% of new electric vehicles each year as part of an audit program and has tested six Tesla models since the 2020 model year. EPA data obtained by Reuters through the Freedom of Information Act showed that the audits resulted in Tesla being required to lower all the cars’ estimated ranges by an average of 3%. The projected range for one vehicle, the 2021 Model Y Long Range AWD (all-wheel drive), dropped by 5.15%. The EPA said all the changes to Tesla’s range estimates were made before the company used the figures on window stickers. The EPA said it has seen “everything” in its audits of EV manufacturers’ range testing, including low and high estimates from other automakers. “That is what we expect when we have new manufacturers and new technologies entering the market and why EPA prioritizes” auditing them, the agency said. The EPA cautioned that individuals’ actual experience with vehicle efficiency might differ from the estimates the agency approves. Independent automotive testers commonly examine the EPA-approved fuel-efficiency or driving range claims against their own experience in structured tests or real-world driving. Often, they get different results, as in the case of Tesla vehicles. Pannone called Tesla “the most aggressive” electric-vehicle manufacturer when it comes to range calculations. “I’m not suggesting they’re cheating,” Pannone said of Tesla. “What they’re doing, at least minimally, is leveraging the current procedures more than the other manufacturers.” Jonathan Elfalan, vehicle testing director for the automotive website Edmunds.com, reached a similar conclusion to Pannone after an extensive examination of vehicles from Tesla and other major automakers, including Ford, General Motors, Hyundai and Porsche. All five Tesla models tested by Edmunds failed to achieve their advertised range, the website reported in February 2021. All but one of 10 other models from other manufacturers exceeded their advertised range. Tesla complained to Edmunds that the test failed to account for the safety buffer programmed into Tesla’s in-dash range meters. So Edmunds did further testing, this time running the vehicles, as Tesla requested, past the point where their range meters indicated the batteries had run out. Only two of six Teslas tested matched their advertised range, Edmunds reported in March 2021. The tests found no fixed safety buffer. Edmunds has continued to test electric vehicles, using its own standard method, to see if they meet their advertised range estimates. As of July, no Tesla vehicle had, Elfalan said. “They've gotten really good at exploiting the rule book and maximizing certain points to work in their favor involving EPA tests,” Elfalan told Reuters. The practice can “misrepresent what their customers will experience with their vehicles.” South Korean regulators earlier this year fined Tesla about $2.1 million for falsely advertised driving ranges on its local website between August 2019 and December 2022. The Korea Fair Trade Commission (KFTC) found that Tesla failed to tell customers that cold weather can drastically reduce its cars’ range. It cited tests by the country’s environment ministry that showed Tesla cars lost up to 50.5% of the company’s claimed ranges in cold weather. The KFTC also flagged certain statements on Tesla’s website, including one that claimed about a particular model: “You can drive 528 km (328 miles) or longer on a single charge.” Regulators required Tesla to remove the “or longer” phrase. Korean regulators required Tesla to publicly admit it had misled consumers. Musk and two local executives did so in a June 19 statement, acknowledging “false/exaggerated advertising.” Creating a diversion By last year, sales of Tesla’s electric vehicles were surging. The company delivered about 1.3 million cars in 2022, nearly 13 times more than five years before. As sales grew, so did demand for service appointments. The wait for an available booking was sometimes a month, according to one of the sources familiar with the diversion team’s operations. Tesla instructs owners to book appointments through a phone app. The company found that many problems could be handled by its “virtual” service teams, who can remotely diagnose and fix various issues. Tesla supervisors told some virtual team members to steer customers away from bringing their cars into service whenever possible. One current Tesla “Virtual Service Advisor” described part of his job in his LinkedIn profile: “Divert customers who do not require in person service.” Such advisors handled a variety of issues, including range complaints. But last summer, Tesla created the Las Vegas “Diversion Team” to handle only range cases, according to the people familiar with the matter. The office atmosphere at times resembled that of a telemarketing boiler room. A supervisor had purchased the metallophone – a xylophone with metal keys – that employees struck to celebrate appointment cancellations, according to the people familiar with the office’s operations. Advisers would normally run remote diagnostics on customers’ cars and try to call them, the people said. They were trained to tell customers that the EPA-approved range estimates were just a prediction, not an actual measurement, and that batteries degrade over time, which can reduce range. Advisors would offer tips on extending range by changing driving habits. If the remote diagnostics found anything else wrong with the vehicle that was not related to driving range, advisors were instructed not to tell the customer, one of the sources said. Managers told them to close the cases. Tesla also updated its phone app so that any customer who complained about range could no longer book service appointments, one of the sources said. Instead, they could request that someone from Tesla contact them. It often took several days before owners were contacted because of the large backlog of range complaints, the source said. The update routed all US range complaints to the Nevada diversion team, which started in Las Vegas and later moved to the nearby suburb of Henderson. The team was soon fielding up to 2,000 cases a week, which sometimes included multiple complaints from customers frustrated they couldn't book a service appointment, one of the people said. The team was expected to close about 750 cases a week. To accomplish that, office supervisors told advisers to call a customer once and, if there was no answer, to close the case as unresponsive, the source said. When customers did respond, advisers were told to try to complete the call in no more than five minutes. In late 2022, managers aiming to quickly close cases told advisors to stop running remote diagnostic tests on the vehicles of owners who had reported range problems, according to one of the people familiar with the diversion team’s operations. “Thousands of customers were told there is nothing wrong with their car” by advisors who had never run diagnostics, the person said. Reuters could not establish how long the practice continued. Tesla recently stopped using its diversion team in Nevada to handle range-related complaints, according to the person familiar with the matter. Virtual service advisors in an office in Utah are now handling range cases, the person said. Reuters could not determine why the change was made. On the road By the time Alexandre Ponsin reached California on his March road trip, he had stopped to charge his Model 3’s battery about a dozen times. Concerned that something was seriously wrong with the car, he had called and texted with several Tesla representatives. One of them booked the first available appointment in Santa Clara – about two weeks away – but advised him to show up at a Tesla service center as soon as he arrived in California. Ponsin soon received a text saying that remote diagnostics had shown his battery “is in good health.” “We would like to cancel your visit for now if you have no other concerns,” the text read. “Of course I still have concerns,” Ponsin shot back. “I have 150 miles of range on a full charge!” The next day, he received another text message asking him to cancel the appointment. “I am sorry, but no I do not want to close the service appointment as I do not feel my concerns have been addressed,” he replied. Undeterred, Ponsin brought his car to the Santa Clara service center without an appointment. A technician there told him the car was fine. “It lasted 10 minutes,” Ponsin said, “and they didn’t even look at the car physically.” After doing more research into range estimates, he said he ultimately concluded there is nothing wrong with his car. The problem, he said, was that Tesla is overstating its performance. He believes Tesla “should be a lot more explicit about the variation in the range,” especially in very cold weather. “I do love my Tesla,” the engineer said. “But I have just tempered my expectation of what it can do in certain conditions.”

Tesla created secret team to suppress thousands of driving range complaints

Elon Musk the owner of X-corp has a habit of garnering headlines not as much for his technological Ventures but also for the things that he in fact does or goes on to say. This time his company Tesla one of the world's most valuable automakers is in the news for approaching things under the carpet. Take a look.

Tesla creates a secret team to suppress driving range complaints

A "shots fired" call from Tesla factory in Austin, Texas, as per reports, has proven to be a false alarm. On Friday, it was reported that Elon Musk's&nbsp;Tesla Giga Factory was in the grip of an active shooter situation. Pictures circulating on the internet showed workers standing outside the massive factory.

Amid rumours of a gunman, the workers were promptly ordered to evacuate. They had also received an email about an "active attacker," the message advises them to "take cover and stand by for further details."

The alert was&nbsp;shared on Twitter by a journalist working with a local news site, KVUE. It read: "There is an Active Attacker near column location 35Z at the Giga Factory Texas. Please take cover and stand by for further details."&nbsp;

<img alt="Alert" data-entity-type="file" data-entity-uuid="f4bb8323-9a83-465a-90be-cd4198d77649" src="//cdn.wionews.com/sites/default/files/inline-images/New%20wion%20%2837%29.png" />

<h2>Police order workers to leave 'now'!</h2>

As per the news outlet, police, upon arriving&nbsp;on the scene,&nbsp;instructed the factory workers to leave.

"Everyone needs to leave right now!," they said.

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NEW: police just arrived and said “Everyone needs to leave right now!” Workers started running. <a href="https://t.co/3uvUNzNzyu">pic.twitter.com/3uvUNzNzyu</a>
— Pamela Comme (@commepamela) <a href="https://twitter.com/commepamela/status/1684870573657141248?ref_src=twsrc%5Etfw">July 28, 2023</a></blockquote>
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Talking to the KVUE,&nbsp;Travis County Sheriff said that they are clearing the building and are yet to hear gunshots or anything that could substantiate reports of a shooter.&nbsp;

"In the process of clearing the building, not hearing any gunshots, no casualties, nothing to substantiate a shooter at this time."

As per the EMS, medics had also responded to the call, prepared to take care of injured and casualties, if any. However, as per KXAN, authorities said no injuries were reported. TCSO told the publication that deputies had cleared the building but that nothing was found.

The Mirror reports that around 5am local time, around the same time Tesla factory workers received the warning email, the road known as "Tesla Road" was closed, which caused backups along the State Highway 130 toll.&nbsp;

(With inputs from agencies) 
 
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A "shots fired" call from Tesla factory in Austin, Texas, as per reports, has proven to be a false alarm. On Friday, it was reported that Elon Musk's Tesla Giga Factory was in the grip of an active shooter situation.

A "shots fired" call from Tesla factory in Austin, Texas, as per reports, has proven to be a false alarm. On Friday, it was reported that Elon Musk's Tesla Giga Factory was in the grip of an active shooter situation. Pictures circulating on the internet showed workers standing outside the massive factory. Amid rumours of a gunman, the workers were promptly ordered to evacuate. They had also received an email about an "active attacker," the message advises them to "take cover and stand by for further details." The alert was shared on Twitter by a journalist working with a local news site, KVUE. It read: "There is an Active Attacker near column location 35Z at the Giga Factory Texas. Please take cover and stand by for further details." Police order workers to leave 'now'! As per the news outlet, police, upon arriving on the scene, instructed the factory workers to leave. "Everyone needs to leave right now!," they said. NEW: police just arrived and said “Everyone needs to leave right now!” Workers started running. pic.twitter.com/3uvUNzNzyu — Pamela Comme (@commepamela) July 28, 2023 × Talking to the KVUE, Travis County Sheriff said that they are clearing the building and are yet to hear gunshots or anything that could substantiate reports of a shooter. "In the process of clearing the building, not hearing any gunshots, no casualties, nothing to substantiate a shooter at this time." As per the EMS, medics had also responded to the call, prepared to take care of injured and casualties, if any. However, as per KXAN, authorities said no injuries were reported. TCSO told the publication that deputies had cleared the building but that nothing was found. The Mirror reports that around 5am local time, around the same time Tesla factory workers received the warning email, the road known as "Tesla Road" was closed, which caused backups along the State Highway 130 toll. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

'Active attacker' situation at Tesla factory in Austin, Texas turns out to be false

Get ready for the electric revolution in India. In the latest, Tesla is tying India with ambitious plans to set up a cutting edge factory - the goal is to produce an all-new affordable electric vehicle priced at just $24,000.

India's EV-olution: Tesla's mega-surge into India, bold plans for $24k electric car | WORLD DNA

Tesla representatives are set to meet India’s commerce minister this month to discuss plans to build a factory to produce what the company has described as an all-new $24,000 car, a person with direct knowledge of the matter told Reuters.

Tesla has expressed an interest in building a factory in India that would produce low-cost electric vehicles (EVs) for the local market and for export, the person said, adding that the company had indicated that it would be for the new vehicle.

The discussions represent a sharp reversal for the company after efforts last year to reduce import taxes on EVs shipped to India were scuppered by calls from government officials to commit to making cars locally.

The meeting with the commerce minister would be the highest level discussions between Tesla and the Indian government since June when Elon Musk met India's Prime Minister Narendra Modi and said he intended to make a significant investment in the country.

The 2 million rupee ($24,000) EV Tesla representatives were said to have described in discussions about a potential Indian plant would be 25% cheaper than its current lowest priced offering, the Model 3 sedan which sells for the equivalent of just over $32,200 in China.

The $24,000 target price for the new Tesla vehicle was reported earlier this month by The Times of India newspaper.

Tesla did not immediately respond to a request for comment.

Electric vehicles currently account for less than 2% of total vehicle sales in India, now the world’s third largest auto market.

Reuters reported in May that Tesla executives visited India and held talks with officials on establishing a manufacturing base for cars and batteries in India.

Discussions with Indian government officials in New Delhi are scheduled to resume this month, two people with knowledge of the talks, who asked not to be named because the discussions remain private, told Reuters.

As part of that, Tesla representatives are set to meet Indian commerce minister Piyush Goyal, the first person said, and discussions are expected to centre around setting up an EV supply chain and discussing land allotment for a factory.

The commerce ministry did not respond to a request for comment.

Also read: <a href="https://www.wionews.com/india-news/india-uk-conclude-11th-round-of-negotiations-for-fta-next-round-of-talks-to-take-place-in-coming-months-619027">India, UK conclude 11th round of negotiations for FTA, next round of talks to take place in coming months</a>

Tesla has aggressively discounted its existing models since the start of the year while Musk has repeatedly said its long-term success will hinge on bringing down the cost of EVs sharply.

Tesla has said its next-generation vehicle platform will slash production costs by 50% and that multiple models - including an automated "robotaxi" - could be built from it, without detailing what those future models will be or their pricing.

A Tesla plant under construction in Mexico will produce vehicles on that lower-cost, high-volume platform, which the company has said it said it will take to other factories as well.

Tesla currently produces EVs in California and Texas. Outside North America, it has plants in Berlin and Shanghai.

The Shanghai plant is Tesla's largest, accounting for almost 40% of the automaker's global capacity. Plans to add additional capacity there are pending regulatory approval.

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Tesla representatives are set to meet India’s commerce minister this month to discuss plans to build a factory to produce what the company has described as an all-new $24,000 car, a person with direct knowledge of the matter told Reuters.

Tesla representatives are set to meet India’s commerce minister this month to discuss plans to build a factory to produce what the company has described as an all-new $24,000 car, a person with direct knowledge of the matter told Reuters. Tesla has expressed an interest in building a factory in India that would produce low-cost electric vehicles (EVs) for the local market and for export, the person said, adding that the company had indicated that it would be for the new vehicle. The discussions represent a sharp reversal for the company after efforts last year to reduce import taxes on EVs shipped to India were scuppered by calls from government officials to commit to making cars locally. The meeting with the commerce minister would be the highest level discussions between Tesla and the Indian government since June when Elon Musk met India's Prime Minister Narendra Modi and said he intended to make a significant investment in the country. The 2 million rupee ($24,000) EV Tesla representatives were said to have described in discussions about a potential Indian plant would be 25% cheaper than its current lowest priced offering, the Model 3 sedan which sells for the equivalent of just over $32,200 in China. The $24,000 target price for the new Tesla vehicle was reported earlier this month by The Times of India newspaper. Tesla did not immediately respond to a request for comment. Electric vehicles currently account for less than 2% of total vehicle sales in India, now the world’s third largest auto market. Reuters reported in May that Tesla executives visited India and held talks with officials on establishing a manufacturing base for cars and batteries in India. Discussions with Indian government officials in New Delhi are scheduled to resume this month, two people with knowledge of the talks, who asked not to be named because the discussions remain private, told Reuters. As part of that, Tesla representatives are set to meet Indian commerce minister Piyush Goyal, the first person said, and discussions are expected to centre around setting up an EV supply chain and discussing land allotment for a factory. The commerce ministry did not respond to a request for comment. Also read: India, UK conclude 11th round of negotiations for FTA, next round of talks to take place in coming months Tesla has aggressively discounted its existing models since the start of the year while Musk has repeatedly said its long-term success will hinge on bringing down the cost of EVs sharply. Tesla has said its next-generation vehicle platform will slash production costs by 50% and that multiple models - including an automated "robotaxi" - could be built from it, without detailing what those future models will be or their pricing. A Tesla plant under construction in Mexico will produce vehicles on that lower-cost, high-volume platform, which the company has said it said it will take to other factories as well. Tesla currently produces EVs in California and Texas. Outside North America, it has plants in Berlin and Shanghai. The Shanghai plant is Tesla's largest, accounting for almost 40% of the automaker's global capacity. Plans to add additional capacity there are pending regulatory approval. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Tesla to discuss factory plan for new $24,000 car with India commerce minister: Report

Tesla reported a jump in second-quarter profits Wednesday as a series of price cuts translated into sharply higher car sales.

Tesla's Profit rose in the second quarter as price cuts spurred demand

In a stunning announcement, Elon Musk on Sunday revealed his plan to change Twitter’s logo as part of a rebranding strategy for the social media platform, aiming to create a “super app" like China’s WeChat. Twitter’s billionaire owner shared in a post, “And soon we shall bid adieu to the Twitter brand and, gradually, all the birds."

Twitter set to replace its iconic bird logo, Elon Musk shares new design

Tesla’s market shares on Thursday plummet by about 10 per cent as Elon Musk looks to forgo present margins for the sake of superior margins when full-self driving (FSD) software is integrated into Tesla cars.&nbsp;

Musk looks to follow price cuts to compete with other electronic vehicle (EV) manufacturers despite its fall in gross margins. The fall in share prices has blotted out Tesla’s market value by about $90 million.&nbsp;

Gene Munster, a managing partner at Deepwater Asset Management and also a Tesla investor stated that the margin outlook may be a disappointment for some, as investors hope for improved margins this year.

"The short-term variances in gross margin and profitability really are minor relative to the long-term picture. Autonomy will make all these numbers look silly," Musk said on Wednesday.

As per Reuters calculations, Tesla’s automotive gross margin fell from 19.0 per cent in the first quarter to 18.1 per cent in the second quarter, which is indicative of a steep decline from 26 per cent last year.

For Tesla, the focus on increasing the number of cars driven on the roads would ensure that it maintains a dominant share in the US market. This will in turn provide usage data, vital for the development of artificial intelligence models to contribute and enhance its self-driving technology.

However, investors continue to question whether sacrificing current profitability is a good move since returns have been particularly unstable for years due to missed targets and regulatory constraints after several crash reports surfaced for Tesla vehicles.

Musk continues to believe that self-driving technology will cover for most of Tesla’s value in the future, giving it an edge over other EV manufacturers. As per analysts, the margin weakness could possibly impact the stocks which have doubled as a result of the emergent adoption of the company’s charging system this year.

As Tesla remains in dialogue to license the FSD technology, seven analysts suggest a positive outcome as stock get optimised to the maximum.

Regardless, financial analyst Danni Hewson at AJ Bell said that it is difficult to predict when FSD will be achieved. The major question remains with regard to how long it will take to get the regulators’ approval as issues surrounding safety need time to be resolved.

(With inputs from Reuters)

Tesla’s market shares on Thursday plummet by about 10 per cent as Elon Musk looks to forgo present margins for the sake of superior margins when full-self driving (FSD) software is integrated into Tesla cars.

Tesla’s market shares on Thursday plummet by about 10 per cent as Elon Musk looks to forgo present margins for the sake of superior margins when full-self driving (FSD) software is integrated into Tesla cars. Musk looks to follow price cuts to compete with other electronic vehicle (EV) manufacturers despite its fall in gross margins. The fall in share prices has blotted out Tesla’s market value by about $90 million. Gene Munster, a managing partner at Deepwater Asset Management and also a Tesla investor stated that the margin outlook may be a disappointment for some, as investors hope for improved margins this year. "The short-term variances in gross margin and profitability really are minor relative to the long-term picture. Autonomy will make all these numbers look silly," Musk said on Wednesday. As per Reuters calculations, Tesla’s automotive gross margin fell from 19.0 per cent in the first quarter to 18.1 per cent in the second quarter, which is indicative of a steep decline from 26 per cent last year. For Tesla, the focus on increasing the number of cars driven on the roads would ensure that it maintains a dominant share in the US market. This will in turn provide usage data, vital for the development of artificial intelligence models to contribute and enhance its self-driving technology. However, investors continue to question whether sacrificing current profitability is a good move since returns have been particularly unstable for years due to missed targets and regulatory constraints after several crash reports surfaced for Tesla vehicles. Musk continues to believe that self-driving technology will cover for most of Tesla’s value in the future, giving it an edge over other EV manufacturers. As per analysts, the margin weakness could possibly impact the stocks which have doubled as a result of the emergent adoption of the company’s charging system this year. As Tesla remains in dialogue to license the FSD technology, seven analysts suggest a positive outcome as stock get optimised to the maximum. Regardless, financial analyst Danni Hewson at AJ Bell said that it is difficult to predict when FSD will be achieved. The major question remains with regard to how long it will take to get the regulators’ approval as issues surrounding safety need time to be resolved. (With inputs from Reuters)

Tesla shares fall as Elon Musk backs self-driving cars

Tesla, the electric-vehicle maker led by billionaire Elon Musk, is facing a major market setback after its shares plummeted nearly 10%. Tesla's quarterly automotive gross margins slid, wiping out nearly $90 billion from its market value.

Tesla's pricing strategy backfires?

In one of the largest shareholder settlements of its kind, Tesla Inc's directors have agreed to return $735 million to the company, resolving a 2020 lawsuit brought forth by the Police and Fire Retirement System of the City of Detroit. The lawsuit challenged the stock options granted to Tesla directors, alleging they were grossly overpaid and their compensation significantly exceeded industry norms for a corporate board.

According to a court filing cited by Reuters in a Delaware court on Monday, the settlement stems from a retirement fund's lawsuit, which holds Tesla stock. The directors, including Oracle co-founder Larry Ellison, have committed to returning the equivalent value of 3.1 million Tesla stock options. While the settlement addresses the alleged unfair and excessive compensation between 2017 and 2020, it notably does not impact the $56 billion compensation package of Tesla's enigmatic CEO, Elon Musk.

Despite maintaining that they acted in good faith and in the best interests of Tesla's shareholders, the directors involved in the settlement agreed to settle to eliminate the risk of ongoing litigation, both for themselves and the company. By opting for this settlement, they hope to move forward with a fresh slate and avoid any further legal entanglements.

Corporate board's remuneration in focus

The case, categorised as a derivative lawsuit, is significant due to its scale and targeting of the corporate board's remuneration practices. The Court of Chancery, a prominent venue for shareholder litigation, has seen few cases of this magnitude. Tesla and Musk have established a reputation for vigorously defending themselves against lawsuits, with Musk previously prevailing in various legal battles, including defamation and shareholder lawsuits.

The specific stock options awarded to directors and Musk came under scrutiny due to the remarkable growth experienced by Tesla. The company's stock price skyrocketed tenfold during the period in question. As the stock's value surged, so did the value of the stock options awarded to the directors and Musk.

Tesla's defense in the lawsuit centered on the notion that the stock options were essential for aligning the directors' incentives with the interests of the company's investors. As Tesla underwent unprecedented growth, it aimed to ensure the board's objectives aligned with its success.

As part of the settlement, the accused directors have made additional concessions. They have agreed not to receive any compensation for the years 2021, 2022, and 2023. Furthermore, the board has committed to reevaluating and revising the method used to determine executive compensation moving forward.

Another lawsuit awaits

While this settlement is a significant step towards resolving the issue, another shareholder lawsuit challenging Elon Musk's substantial compensation package awaits a ruling. Last year, shareholders filed a separate lawsuit targeting Musk's $56 billion compensation, accusing the CEO of potential impropriety. A verdict in that case is expected imminently.

As the settlement funds flow back into the company, investors will be keen to observe how Tesla leverages this capital for future growth and advancement. However, the ramifications of the legal battles and the ensuing settlements could lead to transformative changes in how executive compensation is structured and scrutinised across corporate America.

(With Inputs from Reuters)

In one of the largest shareholder settlements of its kind, Tesla Inc's directors have agreed to return $735 million to the company, resolving a 2020 lawsuit brought forth by the Police and Fire Retirement System of the City of Detroit.

In one of the largest shareholder settlements of its kind, Tesla Inc's directors have agreed to return $735 million to the company, resolving a 2020 lawsuit brought forth by the Police and Fire Retirement System of the City of Detroit. The lawsuit challenged the stock options granted to Tesla directors, alleging they were grossly overpaid and their compensation significantly exceeded industry norms for a corporate board. According to a court filing cited by Reuters in a Delaware court on Monday, the settlement stems from a retirement fund's lawsuit, which holds Tesla stock. The directors, including Oracle co-founder Larry Ellison, have committed to returning the equivalent value of 3.1 million Tesla stock options. While the settlement addresses the alleged unfair and excessive compensation between 2017 and 2020, it notably does not impact the $56 billion compensation package of Tesla's enigmatic CEO, Elon Musk. Despite maintaining that they acted in good faith and in the best interests of Tesla's shareholders, the directors involved in the settlement agreed to settle to eliminate the risk of ongoing litigation, both for themselves and the company. By opting for this settlement, they hope to move forward with a fresh slate and avoid any further legal entanglements. Corporate board's remuneration in focus The case, categorised as a derivative lawsuit, is significant due to its scale and targeting of the corporate board's remuneration practices. The Court of Chancery, a prominent venue for shareholder litigation, has seen few cases of this magnitude. Tesla and Musk have established a reputation for vigorously defending themselves against lawsuits, with Musk previously prevailing in various legal battles, including defamation and shareholder lawsuits. The specific stock options awarded to directors and Musk came under scrutiny due to the remarkable growth experienced by Tesla. The company's stock price skyrocketed tenfold during the period in question. As the stock's value surged, so did the value of the stock options awarded to the directors and Musk. Tesla's defense in the lawsuit centered on the notion that the stock options were essential for aligning the directors' incentives with the interests of the company's investors. As Tesla underwent unprecedented growth, it aimed to ensure the board's objectives aligned with its success. As part of the settlement, the accused directors have made additional concessions. They have agreed not to receive any compensation for the years 2021, 2022, and 2023. Furthermore, the board has committed to reevaluating and revising the method used to determine executive compensation moving forward. Another lawsuit awaits While this settlement is a significant step towards resolving the issue, another shareholder lawsuit challenging Elon Musk's substantial compensation package awaits a ruling. Last year, shareholders filed a separate lawsuit targeting Musk's $56 billion compensation, accusing the CEO of potential impropriety. A verdict in that case is expected imminently. As the settlement funds flow back into the company, investors will be keen to observe how Tesla leverages this capital for future growth and advancement. However, the ramifications of the legal battles and the ensuing settlements could lead to transformative changes in how executive compensation is structured and scrutinised across corporate America. (With Inputs from Reuters)

Tesla's directors get a jolt: Refund $735mn in electrifying overpayment saga

After pushing its market value up by 550 billion dollars this year Tesla's quarterly earnings report is out and it's a roller coaster ride of surprises and challenges alike. Despite facing increasing competition and a challenging economic climate Tesla managed to beat profit estimates but the company's automotive gross margin has witnessed a significant drop compared to the previous year.

Tesla's profit margin suffers amid price wars

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After pushing its market value up by $550 billion this year, Tesla’s second quarter earnings report is out, and it is a rollercoaster ride of surprises and challenges.

Despite facing increasing competition and a challenging economic climate, Tesla managed to beat profit estimates, but the company's automotive gross margin witnessed a significant drop compared to the previous year as CEO Elon Musk set off an electric-vehicle price war to tackle competitors head-on.&nbsp;

Tesla's strategy of slashing prices multiple times in the United States, China, and other markets since late last year aimed to drive volume growth and boost sales.

The company's record-breaking 466,000 vehicle deliveries in the April-July period globally showcased the success of the aggressive pricing approach.

The significant price reduction has put pressure on Tesla's automotive gross margin, a critically monitored industry indicator, although Musk has stated to Reuters, that Tesla will sacrifice profit to promote volume growth, cited by Reuters.&nbsp;

However, these dramatic price cuts exerted pressure on the company's industry-leading automotive gross margin. In the second quarter, the company reported that gross margin fell to 18.1 percent from 26 percent a year earlier. This might have raised concerns about Tesla's ability to maintain its lead in the market. Tesla's overall gross margin for the April-June period was 18.2 percent, the lowest in 16 quarters&nbsp;

Tesla's CEO, Elon Musk, expressed uncertainty about the current economic climate. "One day it seems like the world economy is falling apart, the next day it's fine. We're in, I would call it, turbulent times," Reuters quoted Musk as saying. &nbsp;

Tesla shares, which had been mostly unchanged after hours, plummeted over 5 percent following Musk's remarks.&nbsp;

In these turbulent times, Tesla is focusing on cost reduction and new product development. Musk also revealed that the company is in talks with a major original equipment manufacturer to license its ‘full self-driving’ software. Furthermore, the search for profitability continues as Tesla's stock remains under scrutiny, trading at around 70 times forward earnings.

Amidst the challenges of the current turbulent times, Tesla is placing emphasis on cost reduction measures and forging ahead with new product development initiatives. Tesla's CEO, Elon Musk, disclosed that the company is engaged in discussions with a significant original equipment manufacturer to license its 'full self-driving' software.

As the pursuit of profitability remains a priority, Tesla's stock continues to be closely scrutinized, trading at approximately 70 times forward earnings. This shows that people continue to be bullish about the stock.&nbsp;

(Inputs from Reuters)

After pushing its market value up by $550 billion this year, Tesla’s second quarter earnings report is out, and it is a rollercoaster ride of surprises and challenges.

After pushing its market value up by $550 billion this year, Tesla’s second quarter earnings report is out, and it is a rollercoaster ride of surprises and challenges. Despite facing increasing competition and a challenging economic climate, Tesla managed to beat profit estimates, but the company's automotive gross margin witnessed a significant drop compared to the previous year as CEO Elon Musk set off an electric-vehicle price war to tackle competitors head-on. Tesla's strategy of slashing prices multiple times in the United States, China, and other markets since late last year aimed to drive volume growth and boost sales. The company's record-breaking 466,000 vehicle deliveries in the April-July period globally showcased the success of the aggressive pricing approach. The significant price reduction has put pressure on Tesla's automotive gross margin, a critically monitored industry indicator, although Musk has stated to Reuters, that Tesla will sacrifice profit to promote volume growth, cited by Reuters. However, these dramatic price cuts exerted pressure on the company's industry-leading automotive gross margin. In the second quarter, the company reported that gross margin fell to 18.1 percent from 26 percent a year earlier. This might have raised concerns about Tesla's ability to maintain its lead in the market. Tesla's overall gross margin for the April-June period was 18.2 percent, the lowest in 16 quarters Tesla's CEO, Elon Musk, expressed uncertainty about the current economic climate. "One day it seems like the world economy is falling apart, the next day it's fine. We're in, I would call it, turbulent times," Reuters quoted Musk as saying. Tesla shares, which had been mostly unchanged after hours, plummeted over 5 percent following Musk's remarks. In these turbulent times, Tesla is focusing on cost reduction and new product development. Musk also revealed that the company is in talks with a major original equipment manufacturer to license its ‘full self-driving’ software. Furthermore, the search for profitability continues as Tesla's stock remains under scrutiny, trading at around 70 times forward earnings. Amidst the challenges of the current turbulent times, Tesla is placing emphasis on cost reduction measures and forging ahead with new product development initiatives. Tesla's CEO, Elon Musk, disclosed that the company is engaged in discussions with a significant original equipment manufacturer to license its 'full self-driving' software. As the pursuit of profitability remains a priority, Tesla's stock continues to be closely scrutinized, trading at approximately 70 times forward earnings. This shows that people continue to be bullish about the stock. (Inputs from Reuters)

Tesla's profits take a hit in Q2 as EV maker records bumper sales

In order to resolve a lawsuit brought by the shareholders, the directors of Tesla will pay back $735 million to the business, which is equal to the value of 3.1 million Tesla stock options. Additionally, Tesla directors have agreed that they will not be paid in 2021, 2022, or 2023 while the board also changes how remuneration is decided.

Tesla will pay $735 million to settle a lawsuit filed by shareholders

Tesla on Tuesday (July 18) confirmed plans to dramatically expand its factory near Berlin in Germany. The company has a goal of doubling production capacity to a million electric vehicles per year. The electric carmaker said that it had filed an application for expanding Gruenheide site. This is Tesla's only plant in the Europe.

Regional environment ministry of Brandenburg state said that the plans will be available for consultation of the public from Wednesday. It also said that citizens will have two months to register any objections.

Tesla said in a statement that it aims to double "production capacity to 1,000,000 vehicles" annually. The company said that it also plans to ramp up battery storage production capacity at the Gruenheide gigafactory from 50 gigawatt hours annually to "100 gigawatt hours".

Watch | Tesla will pay $735 million to settle a lawsuit filed by shareholders

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The proposal would require the construction of a new production hall as well as well as enlarging existing facilities. Due to the expansion the number of employees could rise from current 10,000 "to possibly 22,500", Tesla said.

The company, owned by Elon Musk, did not give a timeline for the project.

The plant is currently churning out around 5,000 electric cars a week -- amounting to 260,000 a year.

If plans proposed by Tesla are approved, the Gruenheide factory will become Germany's largest car factory.

<h2>Concerns from the local population</h2>

The factory at Gruenheide opened last year following a long two-year approval and construction process which was dogged by administrative and legal obstacles, including complaints from residents worried about the site's environmental impact.

The use of water by the factory has become a key concern among the locals.

Appearing to ease those worries, Tesla said that the "contractually agreed quantities of fresh water will be sufficient" for the larger factory as well.

Tesla has long argued for long that the plant's impact is relatively low. It has referred to benefits of EVs in combating Climate Change.

Also Read | <a href="https://www.wionews.com/world/us-new-special-probe-opened-into-fatal-tesla-crash-617152">US: New special probe opened into 2018 fatal Tesla crash in California</a>

Tesla on Tuesday held a Q&amp;A session on the expansion of the car plant. The attendees' main concern at Tuesday's event was how the carmaker will manage to expand the plant without using additional water, which Tesla has said it will achieve by recycling the 1.4 million cubic metres of water it is licensed to use.&nbsp;

Germany's powerful IG Metall union welcomed Tesla's committment to the Brandenburg region but voiced concern about "the stark contradiction" between the ambitious plans and recent job cuts at the factory.

"Before the plant is expanded, the improvement of working conditions in Gruenheide must now finally have priority," IG Metall's Dirk Schulze said in a statement on Monday.

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Tesla on Tuesday (July 18) confirmed plans to dramatically expand its factory near Berlin in Germany. The company has a goal of doubling production capacity to a million electric vehicles per year.

Tesla on Tuesday (July 18) confirmed plans to dramatically expand its factory near Berlin in Germany. The company has a goal of doubling production capacity to a million electric vehicles per year. The electric carmaker said that it had filed an application for expanding Gruenheide site. This is Tesla's only plant in the Europe. Regional environment ministry of Brandenburg state said that the plans will be available for consultation of the public from Wednesday. It also said that citizens will have two months to register any objections. Tesla said in a statement that it aims to double "production capacity to 1,000,000 vehicles" annually. The company said that it also plans to ramp up battery storage production capacity at the Gruenheide gigafactory from 50 gigawatt hours annually to "100 gigawatt hours". Watch | Tesla will pay $735 million to settle a lawsuit filed by shareholders × The proposal would require the construction of a new production hall as well as well as enlarging existing facilities. Due to the expansion the number of employees could rise from current 10,000 "to possibly 22,500", Tesla said. The company, owned by Elon Musk, did not give a timeline for the project. The plant is currently churning out around 5,000 electric cars a week -- amounting to 260,000 a year. If plans proposed by Tesla are approved, the Gruenheide factory will become Germany's largest car factory. Concerns from the local population The factory at Gruenheide opened last year following a long two-year approval and construction process which was dogged by administrative and legal obstacles, including complaints from residents worried about the site's environmental impact. The use of water by the factory has become a key concern among the locals. Appearing to ease those worries, Tesla said that the "contractually agreed quantities of fresh water will be sufficient" for the larger factory as well. Tesla has long argued for long that the plant's impact is relatively low. It has referred to benefits of EVs in combating Climate Change. Also Read | US: New special probe opened into 2018 fatal Tesla crash in California Tesla on Tuesday held a Q&A session on the expansion of the car plant. The attendees' main concern at Tuesday's event was how the carmaker will manage to expand the plant without using additional water, which Tesla has said it will achieve by recycling the 1.4 million cubic metres of water it is licensed to use. Germany's powerful IG Metall union welcomed Tesla's committment to the Brandenburg region but voiced concern about "the stark contradiction" between the ambitious plans and recent job cuts at the factory. "Before the plant is expanded, the improvement of working conditions in Gruenheide must now finally have priority," IG Metall's Dirk Schulze said in a statement on Monday. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Tesla seeks to expand German factory to make it biggest in country

United States' National Highway Traffic Safety Administration (NHTSA) said on Tuesday (July 18) that it was opening a fresh special crash investigation into a fatal accident involving a Tesla Model 3. The accident had taken place in California in the year 2018. It has been suspected that advanced driver assistance systems were in use when the accident took place.

Special crash investigations into more than three dozen Tesla vehicles have been opened by the NHTSA since 2016. It is suspected that advanced driver assistance systems like Autopilot were in use when these accidents occurred. Twenty crash deaths have been reported.

Reuters reported that Tesla did not immediately respond to its request for comment.

This is the first new special crash investigation opened since March. Before that, the NHTSA had said that it was opening a new special investigation in&nbsp;February. This accident too, had taken place in California and involved a Tesla Model S.

The agency is also investigating a crash that involved a 2014 year model Tesla and a fire truck in Contra Costa County in California. The fire department reportedly said that the car struck on one of its fire trucks and Tesla driver was dead at the scene.

This is not the end of the list, the NHTSA in December opened two new special investigations into crashes involving Tesla vehicles. Advanced driver assistance systems are suspected to have been used in this crash as well.

NHTSA typically opens more than 100 special crash investigations annually into emerging technologies and other potential auto safety issues that have, for instance, previously helped to develop safety rules on air bags.

In June, the federal agency upgraded to an engineering analysis its defect probe into 830,000 Tesla vehicles with driver assistance system Autopilot and involving crashes with parked emergency vehicles including fire trucks. That step was necessary before the agency could demand a recall.

(With inputs from agencies)

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United States' National Highway Traffic Safety Administration (NHTSA) said on Tuesday (July 18) that it was opening a fresh special crash investigation into a fatal accident involving a Tesla Model 3.

United States' National Highway Traffic Safety Administration (NHTSA) said on Tuesday (July 18) that it was opening a fresh special crash investigation into a fatal accident involving a Tesla Model 3. The accident had taken place in California in the year 2018. It has been suspected that advanced driver assistance systems were in use when the accident took place. Special crash investigations into more than three dozen Tesla vehicles have been opened by the NHTSA since 2016. It is suspected that advanced driver assistance systems like Autopilot were in use when these accidents occurred. Twenty crash deaths have been reported. Reuters reported that Tesla did not immediately respond to its request for comment. This is the first new special crash investigation opened since March. Before that, the NHTSA had said that it was opening a new special investigation in February. This accident too, had taken place in California and involved a Tesla Model S. The agency is also investigating a crash that involved a 2014 year model Tesla and a fire truck in Contra Costa County in California. The fire department reportedly said that the car struck on one of its fire trucks and Tesla driver was dead at the scene. This is not the end of the list, the NHTSA in December opened two new special investigations into crashes involving Tesla vehicles. Advanced driver assistance systems are suspected to have been used in this crash as well. NHTSA typically opens more than 100 special crash investigations annually into emerging technologies and other potential auto safety issues that have, for instance, previously helped to develop safety rules on air bags. In June, the federal agency upgraded to an engineering analysis its defect probe into 830,000 Tesla vehicles with driver assistance system Autopilot and involving crashes with parked emergency vehicles including fire trucks. That step was necessary before the agency could demand a recall. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

US: New special probe opened into 2018 fatal Tesla crash in California

Tesla over the weekend said its first much anticipated Cybertruck came off the electric vehicle maker’s production line in Texas. The debut of the long-delayed, futuristic-looking pickup truck comes in the lead-up to Tesla’s second-quarter 2023 earnings call.

Tesla announces first Cybertruck build ahead of Q2 earnings

Amidst much fanfare and after repeated delays, US billionaire Elon Musk-owned Tesla has finally managed to build the first Cybertruck at its plant in Texas. Musk took to Twitter to congratulate team Tesla.&nbsp;

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Congrats Tesla Team! <a href="https://t.co/FPUgBqBpdY">https://t.co/FPUgBqBpdY</a>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1680140839107051520?ref_src=twsrc%5Etfw">July 15, 2023</a></blockquote>
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Musk introduced the pickup truck back in 2019; however, its mass production could never kick off due to a shortage of essential components. In a May shareholders meeting, Musk said Tesla aimed at producing a quarter-million Cybertucks every year depending on demand. With its first truck out, Tesla is running two years behind the original production schedule.

<h2>When will mass production of Cybertrucks start?</h2>

A report by Economic Times quoted Musk as saying that Cybertrucks won’t go into mass production before 2024. "I always try to downplay the start of production. It increases exponentially, but it is very slow at first," Musk was quoted as saying.

Watch:&nbsp;Tesla’s stock soars by $57 billion

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Musk also told the investors that Cybertruck’s specifications and price will be different. The pickup truck segment is one of the most profitable segments in the American EV sector, and Tesla’s Cybertruck will be competing against key players, including Ford Motor and Rivian Automotive.

<h2>What’s so special about Tesla Cybertrucks?</h2>

The Tesla Cybertruck is an all-electric pickup truck that stands out with its futuristic and unconventional design. Introduced in November 2019, the Cybertruck quickly gained attention for its angular and armoured exoskeleton made from ultra-hard 30X cold-rolled stainless steel. This material is claimed to provide remarkable durability and resistance to dents and damage.

The Cybertruck would be available in three versions: a single-motor rear-wheel drive, a dual-motor all-wheel drive, and a tri-motor all-wheel drive. The tri-motor version boasts impressive performance figures, including a 0-60 mph acceleration in under 2.9 seconds and a towing capacity of up to 14,000 pounds.

<a href="https://www.wionews.com/business-economy/tesla-set-to-revolutionise-indias-auto-industry-with-proposed-factory-614987">Also read:&nbsp;Tesla set to revolutionise India`s auto industry with proposed factory</a>

With an estimated range of up to 500 miles on a single charge, the Cybertruck utilises Tesla's advanced electric powertrain technology. It also features adaptive air suspension for adjustable ground clearance and the ability to traverse rough terrains. In fact, Musk earlier in a statement said the truck would be waterproof which would briefly help it serve as a boat.

Inside, the Cybertruck offers seating for up to six passengers and a minimalist yet spacious cabin. The dashboard houses a large touchscreen display for vehicle controls and infotainment.&nbsp;

<h2>Tesla Cybertruck price&nbsp;</h2>

In 2019, Musk stated that the price of the base model (single-motor rear-wheel-drive) will be around $40,000. A dual-motor all-wheel-drive could start at $49,900, while a tri-motor all-wheel-drive is expected to start at $69,900.

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Amidst much fanfare and after repeated delays, US billionaire Elon Musk-owned Tesla has finally managed to build the first Cybertruck at its plant in Texas. Musk took to Twitter to congratulate team Tesla.

Amidst much fanfare and after repeated delays, US billionaire Elon Musk-owned Tesla has finally managed to build the first Cybertruck at its plant in Texas. Musk took to Twitter to congratulate team Tesla. Congrats Tesla Team! https://t.co/FPUgBqBpdY — Elon Musk (@elonmusk) July 15, 2023 × Musk introduced the pickup truck back in 2019; however, its mass production could never kick off due to a shortage of essential components. In a May shareholders meeting, Musk said Tesla aimed at producing a quarter-million Cybertucks every year depending on demand. With its first truck out, Tesla is running two years behind the original production schedule. When will mass production of Cybertrucks start? A report by Economic Times quoted Musk as saying that Cybertrucks won’t go into mass production before 2024. "I always try to downplay the start of production. It increases exponentially, but it is very slow at first," Musk was quoted as saying. Watch: Tesla’s stock soars by $57 billion × Musk also told the investors that Cybertruck’s specifications and price will be different. The pickup truck segment is one of the most profitable segments in the American EV sector, and Tesla’s Cybertruck will be competing against key players, including Ford Motor and Rivian Automotive. What’s so special about Tesla Cybertrucks? The Tesla Cybertruck is an all-electric pickup truck that stands out with its futuristic and unconventional design. Introduced in November 2019, the Cybertruck quickly gained attention for its angular and armoured exoskeleton made from ultra-hard 30X cold-rolled stainless steel. This material is claimed to provide remarkable durability and resistance to dents and damage. The Cybertruck would be available in three versions: a single-motor rear-wheel drive, a dual-motor all-wheel drive, and a tri-motor all-wheel drive. The tri-motor version boasts impressive performance figures, including a 0-60 mph acceleration in under 2.9 seconds and a towing capacity of up to 14,000 pounds. Also read: Tesla set to revolutionise India`s auto industry with proposed factory With an estimated range of up to 500 miles on a single charge, the Cybertruck utilises Tesla's advanced electric powertrain technology. It also features adaptive air suspension for adjustable ground clearance and the ability to traverse rough terrains. In fact, Musk earlier in a statement said the truck would be waterproof which would briefly help it serve as a boat. Inside, the Cybertruck offers seating for up to six passengers and a minimalist yet spacious cabin. The dashboard houses a large touchscreen display for vehicle controls and infotainment. Tesla Cybertruck price In 2019, Musk stated that the price of the base model (single-motor rear-wheel-drive) will be around $40,000. A dual-motor all-wheel-drive could start at $49,900, while a tri-motor all-wheel-drive is expected to start at $69,900. WATCH WION LIVE HERE ×

Tesla’s Texas plant builds first Cybertruck, no mass production before 2024

Tesla may soon come to India. Microsoft has accused China of hacking government emails. The week gone by was buzzing with a lot of exciting tech developments. And we bring you the most interesting ones in our tech wrap.

Tesla in talks to set up car factory in India

Elon Musk, the billionaire owner of Twitter and CEO of Tesla, announced on Friday that his new artificial intelligence (AI) company, xAI, would harness public tweets from Twitter to train its AI models. Additionally, Musk revealed that xAI would collaborate with Tesla on AI software and suggested that such a partnership would bring mutual benefits and potentially accelerate the advancement of Tesla's self-driving capabilities, Reuters reported.&nbsp;Musk has been critical of other AI companies, accusing them of disregarding the potential risks to humanity associated with AI development.&nbsp;

In his recent remarks during a Twitter Spaces audio chat, Musk reiterated his concerns and stressed the need for responsible AI development.&nbsp;

Also Read | <a href="https://www.wionews.com/india-news/pm-modi-meets-prominent-individuals-in-paris-hold-discussions-on-yoga-science-skill-development-and-more-615736">PM Modi meets prominent individuals in Paris; hold discussions on yoga, science, skill development, and more</a>

He stated that xAI's objectives were to enhance our "understanding of the universe" and to offer an alternative to established players such as Microsoft, Google, and OpenAI in achieving artificial general&nbsp;intelligence (AGI). AGI is a type of AI that can solve problems akin to human capabilities.

<h2>Questioning the legality of Twitter data usage</h2>

During the discussion, Musk accused all AI companies of employing Twitter data illegally to train their models.&nbsp;

Also Read | <a href="https://www.wionews.com/world/modi-in-france-india-flags-cross-border-terrorism-repeats-call-for-dialogue-to-end-ukraine-war-615740">Modi in France: India flags cross-border terrorism, repeats call for dialogue to end Ukraine war</a>

By leveraging the vast amount of publicly available Twitter data, xAI aims to develop AI models that surpass existing approaches and drive innovation in the AI domain.

<h2>Advocating for AI regulation</h2>

Elon Musk has been a vocal advocate for responsible and safe artificial intelligence, expressing concerns about the potential risks and unintended consequences associated with its rapid advancement. He has actively pursued meetings with White House officials and engaged in discussions with top government representatives in China, underscoring the importance of establishing comprehensive regulations for AI.&nbsp;

<h2>What is xAI?&nbsp;</h2>

Elon Musk officially unveiled his much-anticipated artificial intelligence startup called xAI. The team behind this venture comprises skilled engineers who have previously worked at major technology companies in the United States, presenting a potential challenge to industry giants such as Google and Microsoft.

Watch | Ukraine continues to demand more weapons and NATO membership

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The launch of xAI is accompanied by the introduction of its website, which reveals the collaboration of engineers with backgrounds from Alphabet-owned Google, Microsoft, and OpenAI. This partnership highlights the wealth of expertise and experience that will drive the development of xAI.

Musk took to Twitter to share the news, stating, "Announcing formation of @xAI to understand reality." With this announcement, the industry eagerly anticipates the innovative contributions and potential unique approach that xAI will bring to the field of AI.

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&nbsp;

Elon Musk, the billionaire owner of Twitter and CEO of Tesla, announced on Friday that his new artificial intelligence (AI) company, xAI, would harness public tweets from Twitter to train its AI models.

Elon Musk, the billionaire owner of Twitter and CEO of Tesla, announced on Friday that his new artificial intelligence (AI) company, xAI, would harness public tweets from Twitter to train its AI models. Additionally, Musk revealed that xAI would collaborate with Tesla on AI software and suggested that such a partnership would bring mutual benefits and potentially accelerate the advancement of Tesla's self-driving capabilities, Reuters reported. Musk has been critical of other AI companies, accusing them of disregarding the potential risks to humanity associated with AI development. In his recent remarks during a Twitter Spaces audio chat, Musk reiterated his concerns and stressed the need for responsible AI development. Also Read | PM Modi meets prominent individuals in Paris; hold discussions on yoga, science, skill development, and more He stated that xAI's objectives were to enhance our "understanding of the universe" and to offer an alternative to established players such as Microsoft, Google, and OpenAI in achieving artificial general intelligence (AGI). AGI is a type of AI that can solve problems akin to human capabilities. Questioning the legality of Twitter data usage During the discussion, Musk accused all AI companies of employing Twitter data illegally to train their models. Also Read | Modi in France: India flags cross-border terrorism, repeats call for dialogue to end Ukraine war By leveraging the vast amount of publicly available Twitter data, xAI aims to develop AI models that surpass existing approaches and drive innovation in the AI domain. Advocating for AI regulation Elon Musk has been a vocal advocate for responsible and safe artificial intelligence, expressing concerns about the potential risks and unintended consequences associated with its rapid advancement. He has actively pursued meetings with White House officials and engaged in discussions with top government representatives in China, underscoring the importance of establishing comprehensive regulations for AI. What is xAI? Elon Musk officially unveiled his much-anticipated artificial intelligence startup called xAI. The team behind this venture comprises skilled engineers who have previously worked at major technology companies in the United States, presenting a potential challenge to industry giants such as Google and Microsoft. Watch | Ukraine continues to demand more weapons and NATO membership × The launch of xAI is accompanied by the introduction of its website, which reveals the collaboration of engineers with backgrounds from Alphabet-owned Google, Microsoft, and OpenAI. This partnership highlights the wealth of expertise and experience that will drive the development of xAI. Musk took to Twitter to share the news, stating, "Announcing formation of @xAI to understand reality." With this announcement, the industry eagerly anticipates the innovative contributions and potential unique approach that xAI will bring to the field of AI. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Elon Musk's xAI to use Twitter data for AI model training, work with Tesla

In&nbsp;a major setback for Electric Vehicle maker Tesla, the Indian finance ministry on Thursday said it is not considering any custom duty waiver for the Elon Musk-owned company.&nbsp;

"Any duty waiver for Tesla is not under active consideration of the Department of Revenue, as of now," Reuters quoted India's revenue secretary Sanjay Malhotra as saying.&nbsp;

The finance ministry's statement came after Musk had claimed that Prime Minister Narendra Modi urged&nbsp;his company to make substantial investments in India.&nbsp;

Malhotra's statement carries importance as the Electric Vehicle maker in the past had sought custom duty waivers for importing Tesla cars into India. But India had denied Tesla's request in the past, leading to a breakdown in the talks to establish a presence in Asia's third-largest economy.&nbsp;

It is to be noted that India imposes a 100 per cent import duty on Electric Vehicles.&nbsp;

Tesla, the world's most-valued automaker, was recently in the news for holding discussions with the Indian government to establish a car factory.&nbsp;The Times of India had reported that Tesla was exploring the possibility of establishing its auto parts and electronics chain in India.&nbsp;

The proposed factory is expected to have an annual production capacity of 500,000 EVs, with prices starting at $24,400. Additionally, Tesla is looking at India as a base for its EVs, which will be exported to the Indo-Pacific region. This will also help the EV maker reduce its supply chain dependence on China.&nbsp;

(With inputs from Reuters)

In a major setback for Electric Vehicle maker Tesla, the Indian finance ministry on Thursday said it is not considering any custom duty waiver for the Elon Musk-owned company.

In a major setback for Electric Vehicle maker Tesla, the Indian finance ministry on Thursday said it is not considering any custom duty waiver for the Elon Musk-owned company. "Any duty waiver for Tesla is not under active consideration of the Department of Revenue, as of now," Reuters quoted India's revenue secretary Sanjay Malhotra as saying. The finance ministry's statement came after Musk had claimed that Prime Minister Narendra Modi urged his company to make substantial investments in India. Malhotra's statement carries importance as the Electric Vehicle maker in the past had sought custom duty waivers for importing Tesla cars into India. But India had denied Tesla's request in the past, leading to a breakdown in the talks to establish a presence in Asia's third-largest economy. It is to be noted that India imposes a 100 per cent import duty on Electric Vehicles. Tesla, the world's most-valued automaker, was recently in the news for holding discussions with the Indian government to establish a car factory. The Times of India had reported that Tesla was exploring the possibility of establishing its auto parts and electronics chain in India. The proposed factory is expected to have an annual production capacity of 500,000 EVs, with prices starting at $24,400. Additionally, Tesla is looking at India as a base for its EVs, which will be exported to the Indo-Pacific region. This will also help the EV maker reduce its supply chain dependence on China. (With inputs from Reuters)

Setback for Tesla?: India's finance ministry says no duty waiver for EV maker

In a significant move towards sustainable transportation, Tesla, the renowned electric vehicle (EV) manufacturer led by CEO Elon Musk, is in talks with the Indian government to establish a car factory in the country. This development comes just three weeks after Elon Musk expressed his intentions to bring Tesla to India 'as soon as humanly possible.'

According to a report from The Times of India, Tesla is exploring the possibility of establishing its auto parts and electronics chain in India while seeking incentives and tax benefits from the government. The Indian government, on the other hand, is interested in Tesla's assessment of the current auto components supply chain within the country. However, it seems that Tesla aims to establish its own supply chain ecosystem in India. The proposed factory is expected to have an annual production capacity of 500,000 EVs, with prices starting at $24,400.66. Additionally, India is likely to serve as an export base for Tesla, facilitating the shipment of electric vehicles to countries in the Indo-Pacific region and offering the automaker a diversified supply chain beyond China.

Big boost for the Indian EV sector

The potential arrival of Tesla in India has sparked anticipation and excitement within the Indian EV sector. It holds the promise of greater collaborations in technology research and development, a boost in the adoption of clean mobility, and a transformative impact on the economy and environment, paving the way for a greener future.

Additionally, Tesla's entry could drive the growth of EV charging infrastructure by encouraging investments in charging stations, battery swapping networks, and other supportive infrastructure. Establishing a robust EV supply chain ecosystem in India could also lead to partnerships with local suppliers, manufacturers, and service providers, promoting the growth of the domestic EV component ecosystem and supporting the government's 'Make in India' initiative.

(With Inputs from Agencies)

In a significant move towards sustainable transportation, Tesla, the renowned electric vehicle (EV) manufacturer led by CEO Elon Musk, is in talks with the Indian government to establish a car factory in the country.

In a significant move towards sustainable transportation, Tesla, the renowned electric vehicle (EV) manufacturer led by CEO Elon Musk, is in talks with the Indian government to establish a car factory in the country. This development comes just three weeks after Elon Musk expressed his intentions to bring Tesla to India 'as soon as humanly possible.' According to a report from The Times of India, Tesla is exploring the possibility of establishing its auto parts and electronics chain in India while seeking incentives and tax benefits from the government. The Indian government, on the other hand, is interested in Tesla's assessment of the current auto components supply chain within the country. However, it seems that Tesla aims to establish its own supply chain ecosystem in India. The proposed factory is expected to have an annual production capacity of 500,000 EVs, with prices starting at $24,400.66. Additionally, India is likely to serve as an export base for Tesla, facilitating the shipment of electric vehicles to countries in the Indo-Pacific region and offering the automaker a diversified supply chain beyond China. Big boost for the Indian EV sector The potential arrival of Tesla in India has sparked anticipation and excitement within the Indian EV sector. It holds the promise of greater collaborations in technology research and development, a boost in the adoption of clean mobility, and a transformative impact on the economy and environment, paving the way for a greener future. Additionally, Tesla's entry could drive the growth of EV charging infrastructure by encouraging investments in charging stations, battery swapping networks, and other supportive infrastructure. Establishing a robust EV supply chain ecosystem in India could also lead to partnerships with local suppliers, manufacturers, and service providers, promoting the growth of the domestic EV component ecosystem and supporting the government's 'Make in India' initiative. (With Inputs from Agencies)

Tesla set to revolutionise India's auto industry with proposed factory

Elon Musk's groundbreaking startup, Xai, aims to shake up the AI landscape and challenge industry giants like OpenAI. Musk is forging a path towards a safer and more human-centric Artificial Intelligence. In a twitter spaces event, Musk unveiled his audacious plan to build a morally conscious AI.

From Tesla to Xai: Elon Musk's AI-volution continues | World Business Watch

Tesla is in talks with the Indian government to set up a car factory in the country, The Times of India has reported. The factory will reportedly have a capacity of as many as 500,000 electric vehicles. The report added that the prices of the vehicles will start from 2 million rupees ($24,400.66).

The report cited government sources to say that the Elon Musk-led company is also planning to using India as an export base. This fits in the company's plans to ship cars to Indo-Pacific countries.

Reuters said Tesla did not respond to its request for comment.

The reported discussions with the Indian government mark a shift in strategy for the US electric car maker.

Talks between Tesla and the Indian government stalled because Indian government refused to agree to Tesla's request to &nbsp;lower import taxes on cars. This tax can be as much as 100 per cent.

India was keen for Tesla to manufacture vehicles locally, but the company said it wanted to export its cars first to test the strength of demand.

In renewed efforts to enter the domestic market with a change of stance, Tesla held discussions in May with officials about incentives being offered by the government for car and battery manufacturing, Reuters reported.

Last month, Indian Prime Minister Narendra Modi met Elon Musk. The PM pushed the carmaker to make a &nbsp;"significant investment" in the country.

There is strong potential in India for a sustainable energy future including that for solar power along with stationery battery packs and electric vehicles, Musk said after meeting Modi. He added that he hopes to bring SpaceX Starlink satellites internet service to the country as well.

<h2>Musk in news</h2>

Musk is currently in the news for launch of his long-teased artificial intelligence startup xAI. The launch was announced on Wednesday (July 12). A team of engineers was unveiled. The team has engineers from the same tech firm Musk hopes to challenge in his bid to build an alternative to ChatGPT.

The startup will be led by Musk. He is already the CEO of electric car maker Tesla, CEO of rocket launch company SpaceX and owner of Twitter.

Interestingly, Musk has said on several occasions that the development of AI should be paused and that regulation of the sector was need of the hour. Musk has repeatedly voiced concerns about AI's potential for "civilizational destruction."

In a Twitter Spaces event on Wednesday, Musk sought to explain his plan of developing safer AI. Rather than explicitly programming morality into its AI, xAI will seek to create a "maximally curious" AI, he said.

(With inputs from agencies)

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Tesla is in talks with the Indian government to set up a car factory in the country, The Times of India has reported. The factory will reportedly have a capacity of as many as 500,000 electric vehicles.

Tesla is in talks with the Indian government to set up a car factory in the country, The Times of India has reported. The factory will reportedly have a capacity of as many as 500,000 electric vehicles. The report added that the prices of the vehicles will start from 2 million rupees ($24,400.66). The report cited government sources to say that the Elon Musk-led company is also planning to using India as an export base. This fits in the company's plans to ship cars to Indo-Pacific countries. Reuters said Tesla did not respond to its request for comment. The reported discussions with the Indian government mark a shift in strategy for the US electric car maker. Talks between Tesla and the Indian government stalled because Indian government refused to agree to Tesla's request to lower import taxes on cars. This tax can be as much as 100 per cent. India was keen for Tesla to manufacture vehicles locally, but the company said it wanted to export its cars first to test the strength of demand. In renewed efforts to enter the domestic market with a change of stance, Tesla held discussions in May with officials about incentives being offered by the government for car and battery manufacturing, Reuters reported. Last month, Indian Prime Minister Narendra Modi met Elon Musk. The PM pushed the carmaker to make a "significant investment" in the country. There is strong potential in India for a sustainable energy future including that for solar power along with stationery battery packs and electric vehicles, Musk said after meeting Modi. He added that he hopes to bring SpaceX Starlink satellites internet service to the country as well. Musk in news Musk is currently in the news for launch of his long-teased artificial intelligence startup xAI. The launch was announced on Wednesday (July 12). A team of engineers was unveiled. The team has engineers from the same tech firm Musk hopes to challenge in his bid to build an alternative to ChatGPT. The startup will be led by Musk. He is already the CEO of electric car maker Tesla, CEO of rocket launch company SpaceX and owner of Twitter. Interestingly, Musk has said on several occasions that the development of AI should be paused and that regulation of the sector was need of the hour. Musk has repeatedly voiced concerns about AI's potential for "civilizational destruction." In a Twitter Spaces event on Wednesday, Musk sought to explain his plan of developing safer AI. Rather than explicitly programming morality into its AI, xAI will seek to create a "maximally curious" AI, he said. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Tesla in huddle with India for a big-capacity car factory: Report

Tesla may have funded a project to build its CEO Elon Musk a glass house in Austin, Texas said The Wall Street Journal in a report on Tuesday (July 11). The journal has said that inside Tesla, this project was known as "Project 42". The report has now reportedly kicked off an internal investigation in the electric car-making company. It is being probed whether millions of dollars of company funds were simply spent for a new house for its CEO.

Musk boasts of himself being a 'couch-surfer', a term used for travellers and backpackers who sleep on the couches of friends or willing hosts in order to save money normally spent on expensive hotel rooms. Given this self-declaration, Musk may find himself in an uncomfortable situation if the internal company probe reveals that he prefers a lavish lifestyle.

The news report in the journal describes variety of plans or renderings for Musk's glass home.

A concept reportedly shows a 'twisted hexagon' shaped structure on a waterfront land with Tesla's factory in the background.

Some other renderings show an expansive glass box which the journal says is reminiscent of Apple store on Manhattan fifth avenue. This rendering reportedly shows residential area which includes bedrooms, bathrooms and a kitchen.

Another design showed a 'waterfall feature' in landscaping and a pick-up truck which WSJ said resembled Tesla's forthcoming cybertruck.

<h2>Glass worth millions of dollars</h2>

The report has also revealed that a company order for millions of dollars of worth specialised glass raised some concerns within Tesla as the purpose of the order was not immediately clear.&nbsp;

The probe that has now been launched is focussing on determining whether company resources were misused and if Elon Musk himself was involved in this.&nbsp;

Tesla's factory in Austin, Texas is of great importance to Musk's expanding empire in the Lone Star State. The company calls the factory Giga Texas.

WSJ reported that as Tesla employees worked on the 'Project 42, the company was in the process of getting its new assembly plant in Texas up and running. This was surely an endeavor that took a lot of capital. At this factory, Tesla builds it Model Y crossover. The factory officially opened in 2022.

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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Tesla may have funded a project to build its CEO Elon Musk a glass house in Austin, Texas said The Wall Street Journal in a report on Tuesday (July 11). The journal has said that inside Tesla, this project was known as "Project 42".

Tesla may have funded a project to build its CEO Elon Musk a glass house in Austin, Texas said The Wall Street Journal in a report on Tuesday (July 11). The journal has said that inside Tesla, this project was known as "Project 42". The report has now reportedly kicked off an internal investigation in the electric car-making company. It is being probed whether millions of dollars of company funds were simply spent for a new house for its CEO. Musk boasts of himself being a 'couch-surfer', a term used for travellers and backpackers who sleep on the couches of friends or willing hosts in order to save money normally spent on expensive hotel rooms. Given this self-declaration, Musk may find himself in an uncomfortable situation if the internal company probe reveals that he prefers a lavish lifestyle. The news report in the journal describes variety of plans or renderings for Musk's glass home. A concept reportedly shows a 'twisted hexagon' shaped structure on a waterfront land with Tesla's factory in the background. Some other renderings show an expansive glass box which the journal says is reminiscent of Apple store on Manhattan fifth avenue. This rendering reportedly shows residential area which includes bedrooms, bathrooms and a kitchen. Another design showed a 'waterfall feature' in landscaping and a pick-up truck which WSJ said resembled Tesla's forthcoming cybertruck. Glass worth millions of dollars The report has also revealed that a company order for millions of dollars of worth specialised glass raised some concerns within Tesla as the purpose of the order was not immediately clear. The probe that has now been launched is focussing on determining whether company resources were misused and if Elon Musk himself was involved in this. Tesla's factory in Austin, Texas is of great importance to Musk's expanding empire in the Lone Star State. The company calls the factory Giga Texas. WSJ reported that as Tesla employees worked on the 'Project 42, the company was in the process of getting its new assembly plant in Texas up and running. This was surely an endeavor that took a lot of capital. At this factory, Tesla builds it Model Y crossover. The factory officially opened in 2022. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Glass house for Elon Musk? Tesla launches internal probe: Report

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