A $1.75 trillion Democratic spending proposal could give a big boost to electric vehicles especially to Detroit's Big Three automakers and the US&nbsp;Postal Service.

The House plan boosts electric vehicle credits to up to $12,500 per vehicle, including $4,500 for union-made vehicles and $500 for US-made batteries. Vehicles would have to be made in the United States starting in 2027 to qualify for any credit.

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The EV tax credits would cost $15.6 billion over 10 years and disproportionately benefit Detroit's Big Three automakers - General Motors, Ford Motor and Chrysler-parent Stellantis NV - which assemble their US-made vehicles in union-represented plants.

Foreign automakers have harshly criticized the decision to give union-made vehicles a big leg up, while the United Auto Workers union strongly supports it.

Tesla and foreign automakers do not have unions representing assembly workers in the United States and many have fought UAW efforts to organize US&nbsp;plants.

Honda said in a letter Friday "this tax credit plan would pit Americans working for the three 'legacy'&nbsp;companies against the American workers of other automakers."

The bill would award $6 billion for the US&nbsp;Postal Service to purchase electric delivery vehicles and infrastructure. USPS said Friday it estimates under the bill "all delivery fleet acquisitions could feasibly be electric by 2028, and a corresponding 70 per cent&nbsp;of our entire delivery fleet by" 2030.

In February, USPS awarded a 10-year contract to Oshkosh Defense, a subsidiary of Oshkosh, to build a mix of internal combustion and EV delivery vehicles that could be worth$6 billion.

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The EV proposal eliminates phasing out tax credits after automakers hit 200,000 electric vehicles sold, which would make GM eligible, along with Tesla.

Energy Secretary Jennifer Granholm defended the decision to exclude Tesla from the higher credit, telling CNBC: "We want to make sure that we do everything possible to encourage that business and labor really focus on elevating the standards for everyday Americans."

The bill would create a new electric bike and three-wheel vehicle tax credit, a 30 per cent&nbsp;credit for commercial electric vehicles and $4,000 used EV tax credit.

It would authorize $3.5 billion for "domestic manufacturing conversion" grants for electric and other green vehicles and provide $3 billion to boost a US loan program to retool existing auto plants to build more fuel efficient models and expand it to cover zero-emission trains, airplanes, boats and Hyperloop technology.

A $1.75 trillion Democratic spending proposal could give a big boost to electric vehicles especially to Detroit's Big Three automakers and the US Postal Service.

A $1.75 trillion Democratic spending proposal could give a big boost to electric vehicles especially to Detroit's Big Three automakers and the US Postal Service. The House plan boosts electric vehicle credits to up to $12,500 per vehicle, including $4,500 for union-made vehicles and $500 for US-made batteries. Vehicles would have to be made in the United States starting in 2027 to qualify for any credit. Also Read | UK government greenlights 'self-driving' cars on motorways The EV tax credits would cost $15.6 billion over 10 years and disproportionately benefit Detroit's Big Three automakers - General Motors, Ford Motor and Chrysler-parent Stellantis NV - which assemble their US-made vehicles in union-represented plants. Foreign automakers have harshly criticized the decision to give union-made vehicles a big leg up, while the United Auto Workers union strongly supports it. Tesla and foreign automakers do not have unions representing assembly workers in the United States and many have fought UAW efforts to organize US plants. Honda said in a letter Friday "this tax credit plan would pit Americans working for the three 'legacy' companies against the American workers of other automakers." The bill would award $6 billion for the US Postal Service to purchase electric delivery vehicles and infrastructure. USPS said Friday it estimates under the bill "all delivery fleet acquisitions could feasibly be electric by 2028, and a corresponding 70 per cent of our entire delivery fleet by" 2030. In February, USPS awarded a 10-year contract to Oshkosh Defense, a subsidiary of Oshkosh, to build a mix of internal combustion and EV delivery vehicles that could be worth$6 billion. Also Read | China-made electric vehicles should not be sold in India: Modi govt to Elon Musk The EV proposal eliminates phasing out tax credits after automakers hit 200,000 electric vehicles sold, which would make GM eligible, along with Tesla. Energy Secretary Jennifer Granholm defended the decision to exclude Tesla from the higher credit, telling CNBC: "We want to make sure that we do everything possible to encourage that business and labor really focus on elevating the standards for everyday Americans." The bill would create a new electric bike and three-wheel vehicle tax credit, a 30 per cent credit for commercial electric vehicles and $4,000 used EV tax credit. It would authorize $3.5 billion for "domestic manufacturing conversion" grants for electric and other green vehicles and provide $3 billion to boost a US loan program to retool existing auto plants to build more fuel efficient models and expand it to cover zero-emission trains, airplanes, boats and Hyperloop technology.

US House plan would give electric vehicles big boost

Tesla has surpassed $1 trillion in market value after a deal with rental car company Hertz, which reinforced the electric car leader's ambitions to top the entire auto industry in sales over the next decade.

Tesla goes past $1 trillion market value for first time ever

A recent order helped&nbsp;Tesla and its CEO&nbsp;Elon Musk gain huge amount of wealth as the company's shares witnessed a huge surge.&nbsp;

For the first time, US electric carmaker Tesla’s market value has broken through the $1tn mark. The company achieved the feat after receiving an order for 100,000 of its vehicles from the rental company Hertz. &nbsp;

Due to the order, Musk's personal fortune also went up by $36.2 billion. It was one of the biggest single-day jumps in the wealth of an entrepreneur. &nbsp;

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During 2020 and 2021, the carmaker’s stock market value had soared as investors bet on accelerating sales of electric cars in the run-up to government bans on petrol and diesel cars to meet the climate targets. &nbsp;

The shares of the company rose by as much as 9% to as high as $998 on Monday after the Hertz order announcement. It took Musk's 23 per cent stake in Tesla to $289 billion. The stake also includes options worth over $50 billion that have vested under Musk's 2018 compensation package.&nbsp; &nbsp;

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It took it past the milestone, although they later fell back below that level. &nbsp;&nbsp;

Based on the number of shares disclosed in its latest filing, Tesla shares must trade above $995.75 to stay above the $1tn (£727bn) level. &nbsp;

(With inputs from agencies)&nbsp;

A recent order helped Tesla and its CEO Elon Musk gain huge amount of wealth as the company's shares witnessed a huge surge. For the first time, US electric carmaker Tesla’s market value has broken through the $1tn mark.

A recent order helped Tesla and its CEO Elon Musk gain huge amount of wealth as the company's shares witnessed a huge surge. For the first time, US electric carmaker Tesla’s market value has broken through the $1tn mark. The company achieved the feat after receiving an order for 100,000 of its vehicles from the rental company Hertz. Due to the order, Musk's personal fortune also went up by $36.2 billion. It was one of the biggest single-day jumps in the wealth of an entrepreneur. Also Read: US to lift all travel restrictions for fully vaccinated foreign nationals During 2020 and 2021, the carmaker’s stock market value had soared as investors bet on accelerating sales of electric cars in the run-up to government bans on petrol and diesel cars to meet the climate targets. The shares of the company rose by as much as 9% to as high as $998 on Monday after the Hertz order announcement. It took Musk's 23 per cent stake in Tesla to $289 billion. The stake also includes options worth over $50 billion that have vested under Musk's 2018 compensation package. Also Read: Texas bans transgender girls from participating in female sports in schools It took it past the milestone, although they later fell back below that level. Based on the number of shares disclosed in its latest filing, Tesla shares must trade above $995.75 to stay above the $1tn (£727bn) level. (With inputs from agencies)

On a roll: Hertz’s 100,000-vehicle order helps Tesla, Elon Musk scale new heights

Tesla Inc has urged Prime Minister Narendra Modi’s office to slash import taxes on electric vehicles before it enters the Indian market. Car makar, who wants to begin selling imported cars in India this year, says taxes in the country are among the highest in the world.

Tesla urges India to cut import taxes on electric vehicles

Tesla's third-quarter profits more than quadrupled on sharply higher sales despite a global semiconductor shortage that has plagued the auto industry, according to results released Wednesday.

Elon Musk's electric car company posted a record profit of $1.6 billion for the three-month period, as revenues surged 57 per cent to $13.8 billion compared to the year-ago period.&nbsp;

Tesla&nbsp;also delivered a record 241,391 vehicles during the period, with sales significantly ramping up in North America and China.

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The results suggest&nbsp;Tesla's output has been less affected by the global shortage of semiconductors than some rival carmakers that have shuttered factories or cut production.

However, the company said chip shortages, as well as congestion at ports and rolling blackouts, "have been impacting our ability to keep factories running at full speed."

"We believe our supply chain, engineering and production teams have been dealing with these global challenges with ingenuity, agility and flexibility that is unparalleled in the automotive industry,"&nbsp;Tesla&nbsp;said in its news release.

Tesla&nbsp;notched somewhat lower revenues on the sale of EV regulatory credits to other automakers compared with the year-ago period. The company also reported a $51 million impairment related to bitcoin.

But profit margins expanded, even as the company alluded to uncertainties amid the lingering supply chain challenges.

"We continue to run our production lines as close to full capacity as conditions allow,"&nbsp;Tesla&nbsp;said in the news release. "While sequential growth remains our goal, the magnitude of growth will be determined largely by outside factors."

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The electric carmaker said new factories in Germany and the US state of Texas remain on track.

Musk was on hand earlier this month at the unveiling of&nbsp;Tesla's "gigafactory" near Berlin, its first European plant that is expected to ultimately produce some 500,000 cars a year. &nbsp;

The nearly-completed facility has been criticized by some NGOs in Germany, but&nbsp;Tesla&nbsp;said in Wednesday's press release that it expects to receive final permit approval by the end of the year.

Another gigafactory in Austin, Texas is "progressing as planned,"&nbsp;Tesla&nbsp;said. Musk announced earlier this month that the company is shifting its headquarters to Texas from California.

Tesla&nbsp;is nearing assembly of its first production line cars in Austin and Berlin, but the "hardest work lies ahead" in ramping up output, chief finance officer Zack Kirkhorn said on an earnings call.

Tesla&nbsp;has completed a shift to its factory in Shanghai being its main hub for export vehicles, freeing up other plants to provide more cars for Europe and North America, according to executives.

The company's stated goal is to get on pace to produce millions of cars annually.

"There appears to be quite a profound awakening of desirability for electric vehicles," Kirkhorn said.

"It's called us a little bit off guard. Folks want to buy an electric car and folks want to buy a&nbsp;Tesla&nbsp;right now. It's very exciting for us."

Tesla&nbsp;said it is expanding new "full self-driving" technology to more drivers based on "demonstrated driver safety."&nbsp;

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But earlier this month, US highways safety regulators demanded details from&nbsp;Tesla&nbsp;on issues with the new&nbsp;autonomous system, building on a previously announced probe.

Executives on the call downplayed regulatory inquiries, saying they were to be expected with "cutting edge" technology and that they were cooperating "as much as possible."

CFRA Research analyst Garrett Nelson said the strong results were already priced into&nbsp;Tesla&nbsp;shares, describing the trading action as "muted."&nbsp;

Moreover, the company's statement that the magnitude of its growth "'will be determined largely by outside factors' gives investors pause," Nelson said.

Tesla&nbsp;shares dipped 1.3 percent to $854.40 in after-hours trading. Shares have risen more than 25 per cent in the last two months.

Tesla's third-quarter profits more than quadrupled on sharply higher sales despite a global semiconductor shortage that has plagued the auto industry, according to results released Wednesday.

Tesla's third-quarter profits more than quadrupled on sharply higher sales despite a global semiconductor shortage that has plagued the auto industry, according to results released Wednesday. Elon Musk's electric car company posted a record profit of $1.6 billion for the three-month period, as revenues surged 57 per cent to $13.8 billion compared to the year-ago period. Tesla also delivered a record 241,391 vehicles during the period, with sales significantly ramping up in North America and China. Also Read: Musk could become trillionaire with SpaceX, says Morgan Stanley analyst The results suggest Tesla's output has been less affected by the global shortage of semiconductors than some rival carmakers that have shuttered factories or cut production. However, the company said chip shortages, as well as congestion at ports and rolling blackouts, "have been impacting our ability to keep factories running at full speed." "We believe our supply chain, engineering and production teams have been dealing with these global challenges with ingenuity, agility and flexibility that is unparalleled in the automotive industry," Tesla said in its news release. Tesla notched somewhat lower revenues on the sale of EV regulatory credits to other automakers compared with the year-ago period. The company also reported a $51 million impairment related to bitcoin. But profit margins expanded, even as the company alluded to uncertainties amid the lingering supply chain challenges. "We continue to run our production lines as close to full capacity as conditions allow," Tesla said in the news release. "While sequential growth remains our goal, the magnitude of growth will be determined largely by outside factors." Also Read: With $230 billion net worth, Musk is now richer than Gates and Buffett combined The electric carmaker said new factories in Germany and the US state of Texas remain on track. Musk was on hand earlier this month at the unveiling of Tesla's "gigafactory" near Berlin, its first European plant that is expected to ultimately produce some 500,000 cars a year. The nearly-completed facility has been criticized by some NGOs in Germany, but Tesla said in Wednesday's press release that it expects to receive final permit approval by the end of the year. Another gigafactory in Austin, Texas is "progressing as planned," Tesla said. Musk announced earlier this month that the company is shifting its headquarters to Texas from California. Tesla is nearing assembly of its first production line cars in Austin and Berlin, but the "hardest work lies ahead" in ramping up output, chief finance officer Zack Kirkhorn said on an earnings call. Tesla has completed a shift to its factory in Shanghai being its main hub for export vehicles, freeing up other plants to provide more cars for Europe and North America, according to executives. The company's stated goal is to get on pace to produce millions of cars annually. "There appears to be quite a profound awakening of desirability for electric vehicles," Kirkhorn said. "It's called us a little bit off guard. Folks want to buy an electric car and folks want to buy a Tesla right now. It's very exciting for us." Tesla said it is expanding new "full self-driving" technology to more drivers based on "demonstrated driver safety." Also Read: Jeff Bezos shares an old article predicting Amazon's failure, Elon Musk replies But earlier this month, US highways safety regulators demanded details from Tesla on issues with the new autonomous system, building on a previously announced probe. Executives on the call downplayed regulatory inquiries, saying they were to be expected with "cutting edge" technology and that they were cooperating "as much as possible." CFRA Research analyst Garrett Nelson said the strong results were already priced into Tesla shares, describing the trading action as "muted." Moreover, the company's statement that the magnitude of its growth "'will be determined largely by outside factors' gives investors pause," Nelson said. Tesla shares dipped 1.3 percent to $854.40 in after-hours trading. Shares have risen more than 25 per cent in the last two months.

Tesla reports record profits amid production surge

According to a Morgan Stanley analyst, Elon Musk's company SpaceX is most likely to make him a trillionaire.

Morgan Stanley's Adam Jonas says SpaceX has multiple components from Starlink satellite to earth observation, deep-sea exploration and other industries.&nbsp;

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According to Bloomberg, SpaceX accounts for less than 17 per cent of Musk's total net worth of $241 billion, however, several projects run by his space company gives it a massive edge in the future.

In a note titled: “SpaceX Escape Velocity ... Who Can Catch Them?”, Jonas said SpaceX is "challenging any preconceived notion of what was possible and the time frame possible, in terms of rockets, launch vehicles and supporting infrastructure."

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Musk's wealth has been generated by his electric car company Tesla which reportedly contributes to $50 billion in his net worth.&nbsp;

Jonas says SpaceX is not just a rocket launch service as it can make and launch satellites. The Morgan Stanley analyst thinks the company's value will increasingly be generated from communication satellites, including Starlink which will provide high-speed internet access for people anywhere in the world.&nbsp;

<a href="https://www.wionews.com/videos/spacex-launches-all-civilian-crew-413391">Watch: SpaceX launches all-civilian crew</a>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/spacex-launches-all-civilian-crew-413391/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Jonas also pointed at hypersonic business travel which could be undertaken by Musk's space company. However, he noted that in the present scenario SpaceX business could be worth $200 billion which is still short of the target.&nbsp;

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Musk currently owns nearly half of SpaceX although his net value has been zooming due to Tesla's shares skyrocketing, so SpaceX still has some way to go before it can lift Musk to trillionaire status.

(With inputs from Agencies)

According to a Morgan Stanley analyst, Elon Musk's company SpaceX is most likely to make him a trillionaire. Morgan Stanley's Adam Jonas says SpaceX has multiple components from Starlink satellite to earth observation, deep-sea exploration and other industries.

According to a Morgan Stanley analyst, Elon Musk's company SpaceX is most likely to make him a trillionaire. Morgan Stanley's Adam Jonas says SpaceX has multiple components from Starlink satellite to earth observation, deep-sea exploration and other industries. Also Read: With $230 billion net worth, Musk is now richer than Gates and Buffett combined According to Bloomberg, SpaceX accounts for less than 17 per cent of Musk's total net worth of $241 billion, however, several projects run by his space company gives it a massive edge in the future. In a note titled: “SpaceX Escape Velocity ... Who Can Catch Them?”, Jonas said SpaceX is "challenging any preconceived notion of what was possible and the time frame possible, in terms of rockets, launch vehicles and supporting infrastructure." Also Read: Jeff Bezos shares an old article predicting Amazon's failure, Elon Musk replies Musk's wealth has been generated by his electric car company Tesla which reportedly contributes to $50 billion in his net worth. Jonas says SpaceX is not just a rocket launch service as it can make and launch satellites. The Morgan Stanley analyst thinks the company's value will increasingly be generated from communication satellites, including Starlink which will provide high-speed internet access for people anywhere in the world. Watch: SpaceX launches all-civilian crew Jonas also pointed at hypersonic business travel which could be undertaken by Musk's space company. However, he noted that in the present scenario SpaceX business could be worth $200 billion which is still short of the target. Also Read: SpaceX founder Elon Musk says people should not 'worry too much about methane' Musk currently owns nearly half of SpaceX although his net value has been zooming due to Tesla's shares skyrocketing, so SpaceX still has some way to go before it can lift Musk to trillionaire status. (With inputs from Agencies)

Musk could become trillionaire with SpaceX, says Morgan Stanley analyst

Tesla and SpaceX CEO Elon Musk is now worth more than both Bill Gates and Warren Buffett combined.

According to the Bloomberg Billionaires Index, the 50-year-old’s net worth is $230 billion as of Friday. Microsoft founder Gates is placed fourth with $130 billion while Buffett is placed 10th with $102 billion.

Both Gates and Buffett previously held the world’s richest title. Musk first passed Amazon CEO Jeff Bezos to become the world’s richest man in January with a net worth of $185 billion. Bezos had held the title since 2017.

Musk has added more than $60 billion to his fortune this year thanks to the strong performance of Tesla stock as well as a recent share sale at SpaceX which valued the company at $100 billion. The SpaceX deal added $11 billion to Musk’s net worth,&nbsp;according to Bloomberg.

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Gates and Buffett are noted for giving way their wealth, to the tune of tens of billions of dollars to charitable causes, while Musk has been criticised for not giving away enough of his riches.

Earlier this year, Musk pledged to give away $150 million, including a $100 million prize in a carbon removal contest.

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Musk grew up in South Africa before moving to Canada aged 17, and then California where he became a young entrepreneur, founding software and then banking companies — one of which was merged to become PayPal.

In the early 2000s he formed aerospace manufacturer SpaceX and electric vehicle company Tesla Motors.

(With inputs from agencies)

Tesla and SpaceX CEO Elon Musk is now worth more than both Bill Gates and Warren Buffett combined. According to the Bloomberg Billionaires Index, the 50-year-old’s net worth is $230 billion as of Friday.

Tesla and SpaceX CEO Elon Musk is now worth more than both Bill Gates and Warren Buffett combined. According to the Bloomberg Billionaires Index, the 50-year-old’s net worth is $230 billion as of Friday. Microsoft founder Gates is placed fourth with $130 billion while Buffett is placed 10th with $102 billion. Both Gates and Buffett previously held the world’s richest title. Musk first passed Amazon CEO Jeff Bezos to become the world’s richest man in January with a net worth of $185 billion. Bezos had held the title since 2017. Musk has added more than $60 billion to his fortune this year thanks to the strong performance of Tesla stock as well as a recent share sale at SpaceX which valued the company at $100 billion. The SpaceX deal added $11 billion to Musk’s net worth, according to Bloomberg. Also read | Is Tesla’s Elon Musk a master manipulator of markets? Gates and Buffett are noted for giving way their wealth, to the tune of tens of billions of dollars to charitable causes, while Musk has been criticised for not giving away enough of his riches. Earlier this year, Musk pledged to give away $150 million, including a $100 million prize in a carbon removal contest. Also read | Elon Musk asks people to use Signal app instead of WhatsApp and Facebook over privacy issues Musk grew up in South Africa before moving to Canada aged 17, and then California where he became a young entrepreneur, founding software and then banking companies — one of which was merged to become PayPal. In the early 2000s he formed aerospace manufacturer SpaceX and electric vehicle company Tesla Motors. (With inputs from agencies)

With $230 billion net worth, Musk is now richer than Gates and Buffett combined

Tesla has opened the doors to its controversial new Gigafactory near Berlin. Construction at the plant had started two years ago. However, opposition from locals over environmental concerns has held up the final approval.

Berlin: Tesla halts Gigafactory construction after local outrage

With a big wheel, music and an appearance by CEO Elon Musk, Tesla is pulling out all the stops Saturday to win over opponents of the electric carmaker's controversial new "gigafactory" near Berlin.

Construction had begun under an exceptional procedure granted by authorities two years ago, but opposition from locals over environmental concerns has held up final approval for the plant.

Some local residents have planned a counter-protest at the site on the day of the event to underline their opposition to the factory.

<a href="https://www.wionews.com/topics/elon-musk">Musk</a> will personally drop by at the "Giga Fest", where the company has laid on a big wheel, electronic music and vegetarian food trucks -- an event conceived in the image of Berlin, Europe's party capital.

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Thousands are expected to attend, with locals given priority for the guest list announced by Tesla earlier this week.

Devotees of the brand shared their excitement ahead of the day on social media. "Gigafest here we come. Thrilled to see what they have built in my hometown," tweeted one.

The project's opponents are planning another form of welcome. "Let's take to the streets against this environmental devastation pushed by politicians," is the call made by protest organisers.

Environmental concerns

Tesla began construction at the site in Gruenheide in 2019 after receiving preliminary approval under a special procedure.&nbsp;

But local authorities are still in the process of evaluating the environmental impact of the factory, despite construction being all but done.

The special treatment afforded to the company angered some residents, who are concerned about the impact the plant could have on the water supply and biodiversity.

Supported by NGOs, opponents have sent letters, held protests and gone to court to try and stop the project.

"Tesla has to follow the same procedures as other companies," the Green League campaign group said recently.

Last year, work at the Tesla site was temporarily stopped after NGOs requested an injunction to protect the nearby natural habitat of endangered species of lizards and snakes while they were in their winter slumber.

A residents' consultation, part of the approval process, is due to close on October 14.

Until the survey is completed, final approval cannot be given and production at the factory will not be allowed to begin.

Even then, the state environment ministry in Brandenburg, where the plant is located, told AFP "no date has been fixed" for this authorisation.&nbsp;

Despite local resistance, construction has been completed in double-quick time, replacing a swathe of pine forest with an enormous concrete-paved expanse accessed via "Tesla Road".

Economies of scale

About 500,000 cars a year should roll off the line at the factory just outside Berlin, Tesla's first production location in Europe.

On the same 300-hectare plot, Musk also plans to build "the world's biggest battery factory".

The site will equally boast the "world's largest die-casting machine", said Ferdinand Dudenhoeffer, director of the Center for Automotive Research in Germany.&nbsp;

The custom-built equipment should allow Tesla to "significantly reduce production costs", Dudenhoeffer said.

In the event that the factory is not approved, the carmaker will be compelled to dismantle the entire works at its own cost.

Such a turn of events is, however, "unlikely", said Dudenhoeffer, since the project has considerable "political support".

"Every political party is in favour," the car expert explained, while noting that changes to the factory facade could be requested by authorities, delaying the beginning of production further.

First planned for July 2021, the start has already been pushed back to the end of this year as a result of the company's administrative troubles.&nbsp;

Tesla was "irritated" by these setbacks, as it wrote in an open letter in March, in which the company called for a "reform" of Germany's planning procedures.&nbsp;

Despite the country's reputation for efficiency, major infrastructure projects are often slowed down by excess bureaucracy.

Berlin's new international airport opened in October 2020 eight years later than first planned, while the construction of a new train station in Stuttgart is not yet finished, having begun in 2010.

With a big wheel, music and an appearance by CEO Elon Musk, Tesla is pulling out all the stops Saturday to win over opponents of the electric carmaker's controversial new "gigafactory" near Berlin.

With a big wheel, music and an appearance by CEO Elon Musk, Tesla is pulling out all the stops Saturday to win over opponents of the electric carmaker's controversial new "gigafactory" near Berlin. Construction had begun under an exceptional procedure granted by authorities two years ago, but opposition from locals over environmental concerns has held up final approval for the plant. Some local residents have planned a counter-protest at the site on the day of the event to underline their opposition to the factory. Musk will personally drop by at the "Giga Fest", where the company has laid on a big wheel, electronic music and vegetarian food trucks -- an event conceived in the image of Berlin, Europe's party capital. Also read | China-made electric vehicles should not be sold in India: Modi govt to Elon Musk Thousands are expected to attend, with locals given priority for the guest list announced by Tesla earlier this week. Devotees of the brand shared their excitement ahead of the day on social media. "Gigafest here we come. Thrilled to see what they have built in my hometown," tweeted one. The project's opponents are planning another form of welcome. "Let's take to the streets against this environmental devastation pushed by politicians," is the call made by protest organisers. Environmental concerns Tesla began construction at the site in Gruenheide in 2019 after receiving preliminary approval under a special procedure. But local authorities are still in the process of evaluating the environmental impact of the factory, despite construction being all but done. The special treatment afforded to the company angered some residents, who are concerned about the impact the plant could have on the water supply and biodiversity. Supported by NGOs, opponents have sent letters, held protests and gone to court to try and stop the project. "Tesla has to follow the same procedures as other companies," the Green League campaign group said recently. Last year, work at the Tesla site was temporarily stopped after NGOs requested an injunction to protect the nearby natural habitat of endangered species of lizards and snakes while they were in their winter slumber. A residents' consultation, part of the approval process, is due to close on October 14. Until the survey is completed, final approval cannot be given and production at the factory will not be allowed to begin. Even then, the state environment ministry in Brandenburg, where the plant is located, told AFP "no date has been fixed" for this authorisation. Despite local resistance, construction has been completed in double-quick time, replacing a swathe of pine forest with an enormous concrete-paved expanse accessed via "Tesla Road". Economies of scale About 500,000 cars a year should roll off the line at the factory just outside Berlin, Tesla's first production location in Europe. On the same 300-hectare plot, Musk also plans to build "the world's biggest battery factory". The site will equally boast the "world's largest die-casting machine", said Ferdinand Dudenhoeffer, director of the Center for Automotive Research in Germany. The custom-built equipment should allow Tesla to "significantly reduce production costs", Dudenhoeffer said. In the event that the factory is not approved, the carmaker will be compelled to dismantle the entire works at its own cost. Such a turn of events is, however, "unlikely", said Dudenhoeffer, since the project has considerable "political support". "Every political party is in favour," the car expert explained, while noting that changes to the factory facade could be requested by authorities, delaying the beginning of production further. First planned for July 2021, the start has already been pushed back to the end of this year as a result of the company's administrative troubles. Tesla was "irritated" by these setbacks, as it wrote in an open letter in March, in which the company called for a "reform" of Germany's planning procedures. Despite the country's reputation for efficiency, major infrastructure projects are often slowed down by excess bureaucracy. Berlin's new international airport opened in October 2020 eight years later than first planned, while the construction of a new train station in Stuttgart is not yet finished, having begun in 2010.

Tesla holds 'Giga Fest' at disputed German factory

Tesla CEO Elon Musk announced that the company would be moving its headquarters from Palo Alto, California to Austin, Texas. He announced the news at the 2021 Tesla, Inc. annual meeting of stockholders, which took place at Austin.

Tesla aims at increasing production at its plant in Fremont, California, by some 50 per cent. He did not elaborate on how he would achieve such an increase in production.&nbsp;

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Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependen on how Tesla is treated in the future. Tesla is the last carmaker left in CA.
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"I'm excited to announce that we're moving our headquarters to Austin, Texas," he said. "Just to be clear, though, we will be continuing to expand our activities in California."

Talking about the inaugural plant in Silicon Valley, Musk said, "When we first went in there it was it like a kid in his parents' shoes; tiny us and this giant factory."&nbsp;

<a href="https://www.wionews.com/business-economy/jury-orders-tesla-to-pay-137-million-over-racist-treatment-418415">Also read |&nbsp;Jury orders Tesla to pay $137 million over racist treatment</a>

He added, "Now, it's like a spam can. We are hitting the sides of the bowl."

He further highlighted that the cost of living in Silicon Valley is high for workers.&nbsp;

Musk had clashed with regulators in California and is among high-profile tech figures who personally left the state for places with lower income taxes and less regulation.

Wedbush analyst Daniel Ives termed it as a "smart strategic move" as he said, "We believe this was the first step towards Tesla making Austin its domestic and global foundational location over the coming decade with its recent frustration with California officials likely accelerating this move."

Meanwhile, earlier this week, a California jury ordered Tesla to pay $137 million to Owen Diaz, a Black former employee who accused the carmaker of ignoring racial abuse he faced while working there.&nbsp;

<a href="https://www.wionews.com/world/tesla-chief-elon-musk-praises-china-again-416500">Also read |&nbsp;Tesla chief Elon Musk praises China again</a>

"They awarded an amount that could be a wake-up call for American corporations," said civil rights attorney Larry Organ, who represented the former Tesla worker.

"Don't engage in racist conduct and don't allow racist conduct to continue."

Human resources vice president Valerie Capers Workman downplayed the allegations of racist abuse in the lawsuit. However, he acknowledged that at the time Diaz worked there, Tesla "was not perfect."&nbsp;

Tesla CEO Elon Musk announced that the company would be moving its headquarters from Palo Alto, California to Austin, Texas. He announced the news at the 2021 Tesla, Inc.

Tesla CEO Elon Musk announced that the company would be moving its headquarters from Palo Alto, California to Austin, Texas. He announced the news at the 2021 Tesla, Inc. annual meeting of stockholders, which took place at Austin. Tesla aims at increasing production at its plant in Fremont, California, by some 50 per cent. He did not elaborate on how he would achieve such an increase in production. Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependen on how Tesla is treated in the future. Tesla is the last carmaker left in CA. — Elon Musk (@elonmusk) May 9, 2020 × "I'm excited to announce that we're moving our headquarters to Austin, Texas," he said. "Just to be clear, though, we will be continuing to expand our activities in California." Talking about the inaugural plant in Silicon Valley, Musk said, "When we first went in there it was it like a kid in his parents' shoes; tiny us and this giant factory." Also read | Jury orders Tesla to pay $137 million over racist treatment He added, "Now, it's like a spam can. We are hitting the sides of the bowl." He further highlighted that the cost of living in Silicon Valley is high for workers. Musk had clashed with regulators in California and is among high-profile tech figures who personally left the state for places with lower income taxes and less regulation. Wedbush analyst Daniel Ives termed it as a "smart strategic move" as he said, "We believe this was the first step towards Tesla making Austin its domestic and global foundational location over the coming decade with its recent frustration with California officials likely accelerating this move." Meanwhile, earlier this week, a California jury ordered Tesla to pay $137 million to Owen Diaz, a Black former employee who accused the carmaker of ignoring racial abuse he faced while working there. Also read | Tesla chief Elon Musk praises China again "They awarded an amount that could be a wake-up call for American corporations," said civil rights attorney Larry Organ, who represented the former Tesla worker. "Don't engage in racist conduct and don't allow racist conduct to continue." Human resources vice president Valerie Capers Workman downplayed the allegations of racist abuse in the lawsuit. However, he acknowledged that at the time Diaz worked there, Tesla "was not perfect."

Elon Musk announces Tesla headquarters to move from California to Texas

A jury ordered Tesla to pay $137 million to Owen Diaz, a Black former employee who accused the carmaker of ignoring racial abuse he faced while working there, his lawyer, Lawrence Organ, said late Monday.

"It’s a great thing when one of the richest corporations in America has to have a reckoning of the abhorrent conditions at its factory for Black people," Organ, of the California Civil Rights Law Group, said in an interview.

The decision by the jury, in federal court in San Francisco, was reported earlier by Bloomberg News. Tesla’s lawyers did not immediately provide comment.

In an interview, Diaz said he was relieved by the jury’s decision.

"It took four long years to get to this point," he said Monday evening. "It’s like a big weight has been pulled off my shoulders."

Diaz said he worked as an elevator operator at Tesla’s factory in Fremont, California, for about a year in 2015 and 2016. There, he said, a supervisor and other colleagues repeatedly referred to him using racial slurs. He also said employees had drawn swastikas and scratched a racial epithet in a bathroom stall and left drawings of derogatory caricatures of Black children around the factory. Despite repeated complaints, the company did little to address the behavior, he said.

"It’s not like they were removing the offensive behavior, they would just let people keep adding and adding," he said.

After deliberating for about four hours, the jury agreed with Diaz’s assertion that Tesla had created a hostile work environment by failing to address the racism he faced, Organ said. The vast majority of the award — $130 million — was punitive damages for the company. The rest was for emotional distress Diaz suffered, Organ said.

Despite the abuse he himself faced, Diaz said, he reached a breaking point when he witnessed similar racist epithets directed at his son, Demetric, who secured a job — his first — at the company with Diaz’s help.

"My son watched his father being broken in front of him," Owen Diaz said.

In an internal email to Tesla staff obtained by Organ and shared with the Times, Valerie Capers Workman, a human resources executive, downplayed the allegations in the lawsuit.

"In addition to Mr. Diaz, three other witnesses (all non-Tesla contract employees) testified at trial that they regularly heard racial slurs (including the N-word) on the Fremont factory floor," she wrote. "While they all agreed that the use of the N-word was not appropriate in the workplace, they also agreed that most of the time they thought the language was used in a ‘friendly’ manner and usually by African-American colleagues."

The company, she wrote in the email, was responsive to Diaz’s complaints, firing two contractors and suspending another. Tesla does not believe the facts justify the verdict, she wrote, but acknowledges that the company was "not perfect" in 2015 and 2016. "We’re still not perfect," she added. "But we have come a long way."

Owen Diaz said in the suit that he was left feeling "demeaned, disrespected and devalued." He sued Tesla alongside his son and another Black former employee, but only the elder Diaz’s claims made it to trial.

It was not immediately clear whether Tesla planned to appeal the decision.

A jury ordered Tesla to pay $137 million to Owen Diaz, a Black former employee who accused the carmaker of ignoring racial abuse he faced while working there, his lawyer, Lawrence Organ, said late Monday.

A jury ordered Tesla to pay $137 million to Owen Diaz, a Black former employee who accused the carmaker of ignoring racial abuse he faced while working there, his lawyer, Lawrence Organ, said late Monday. "It’s a great thing when one of the richest corporations in America has to have a reckoning of the abhorrent conditions at its factory for Black people," Organ, of the California Civil Rights Law Group, said in an interview. The decision by the jury, in federal court in San Francisco, was reported earlier by Bloomberg News. Tesla’s lawyers did not immediately provide comment. In an interview, Diaz said he was relieved by the jury’s decision. "It took four long years to get to this point," he said Monday evening. "It’s like a big weight has been pulled off my shoulders." Diaz said he worked as an elevator operator at Tesla’s factory in Fremont, California, for about a year in 2015 and 2016. There, he said, a supervisor and other colleagues repeatedly referred to him using racial slurs. He also said employees had drawn swastikas and scratched a racial epithet in a bathroom stall and left drawings of derogatory caricatures of Black children around the factory. Despite repeated complaints, the company did little to address the behavior, he said. "It’s not like they were removing the offensive behavior, they would just let people keep adding and adding," he said. After deliberating for about four hours, the jury agreed with Diaz’s assertion that Tesla had created a hostile work environment by failing to address the racism he faced, Organ said. The vast majority of the award — $130 million — was punitive damages for the company. The rest was for emotional distress Diaz suffered, Organ said. Despite the abuse he himself faced, Diaz said, he reached a breaking point when he witnessed similar racist epithets directed at his son, Demetric, who secured a job — his first — at the company with Diaz’s help. "My son watched his father being broken in front of him," Owen Diaz said. In an internal email to Tesla staff obtained by Organ and shared with the Times, Valerie Capers Workman, a human resources executive, downplayed the allegations in the lawsuit. "In addition to Mr. Diaz, three other witnesses (all non-Tesla contract employees) testified at trial that they regularly heard racial slurs (including the N-word) on the Fremont factory floor," she wrote. "While they all agreed that the use of the N-word was not appropriate in the workplace, they also agreed that most of the time they thought the language was used in a ‘friendly’ manner and usually by African-American colleagues." The company, she wrote in the email, was responsive to Diaz’s complaints, firing two contractors and suspending another. Tesla does not believe the facts justify the verdict, she wrote, but acknowledges that the company was "not perfect" in 2015 and 2016. "We’re still not perfect," she added. "But we have come a long way." Owen Diaz said in the suit that he was left feeling "demeaned, disrespected and devalued." He sued Tesla alongside his son and another Black former employee, but only the elder Diaz’s claims made it to trial. It was not immediately clear whether Tesla planned to appeal the decision.

Jury orders Tesla to pay $137 million over racist treatment

Self-driving cars are now a reality, but are they safe? One company that has constantly been under fire for automation in cars is Tesla. Here’s why.

Tech it out: Is Tesla misleading customers about self-driving features?

A Chinese driver has successfully sued Tesla for fraud over his purchase of a second-hand Model S which has previously met with an accident, adding to a run of setbacks for Elon Musk's electric-car pioneer in one of its most important markets.

China: The buyer accused Tesla of selling an "Old" Tesla Model S

U.S. startup Lucid Group Inc said on Tuesday it will start delivering luxury electric sedans with a Tesla-beating driving range in late October, posing a major challenge to the market leader whose sales of premium models have stagnated.

The California-based Lucid began production of its long-delayed Lucid Air cars at its Arizona factory on Tuesday, and said it aims to ramp plant's capacity up to 90,000 vehicles per annum in the next two years.

The top-end Lucid Air Dream Edition will be available in late October, followed by less expensive models: Grand Touring, Touring and Air Pure. The company said it has received more than 13,000 reservations for Lucid Air models, and it has increased the planned total production of the Lucid Air Dream Edition to 520 vehicles.

A version of the Lucid Air Dream Edition, priced at $169,000, received an official U.S. government rating of a 520-mile (837 km) driving range, over 100 miles more than its closest rival, Tesla's Model S, which is priced at $89,990. The higher range helped lead to a 23% jump in Lucid's shares this month.

Speaking at the production site, Lucid Chief Executive Officer Peter Rawlinson, a former chief engineer on the Tesla Model S, said his company's cars have an advantage in battery technology and costs over the Model S.

"We've ridden customers of the fear of range anxiety," he said. "The next big obstacle is cost effectiveness of electric cars. We've got to get the cost down."

He said the Air Pure, the least expensive version with a price tag of $77,400, will go into production late next year.

EXECUTION CHALLENGE

The company, founded in 2007, received funding from Saudi Arabia's Public Investment Fund in 2018 before going public via a shell company https://www.reuters.com/article/us-lucidmotors-m-a-churchill-cap-iv-excl/exclusive-lucid-motors-nears-spac-deal-as-klein-launches-financing-sources-idUSKBN2AG2D6 in July.

"(20)17 and (20)18 were brutal. The company was in a parlous state. And then I've got to say, we met a perfect partner," he said.

Rawlinson, who left Tesla in 2012, faces tasks similar to those of Tesla in its early days, including how to address manufacturing challenges and scale up production.

"I think the big challenge for Lucid will be execution," said Sam Abuelsamid, a principal analyst at Guidehouse Insights. "I think that they have a very good car. It's very attractive."

Tesla CEO Elon Musk said in June that Tesla has canceled its plan to launch a Model S Plaid+, with a target driving range of 520 miles, saying the Model S Plaid itself is "just so good" https://www.reuters.com/business/autos-transportation/tesla-launch-high-end-model-s-plaid-fend-off-mercedes-porsche-2021-06-10.

Musk reiterated this month that "production is hard".

"Production with positive cash flow is extremely hard," he said, citing carmakers' razor-thin margins.

Tesla's combined sales of Model S and Model X luxury models stood at only 1,890 in the second quarter of this year, down from 22,300 during the same period three years ago. Tesla does not break out figures for the two high-end models.

"The Model S doesn't look fundamentally different from a Model S nine years ago," Abuelsamid said. "In the premium market, customers are looking for the latest and greatest."

Musk in October 2020 cut the price of its Model S, shortly after Lucid announced the pricing of its base model. "The gauntlet has been thrown down! The prophecy will be fulfilled," he tweeted at that time.

Electric vehicle maker Rivian, backed by Amazon.com Inc and now preparing for a public stock listing, earlier this month started production of electric pickup trucks. That move came ahead of similar expected moves by Tesla, General Motors Co and Ford Motor Co. 
&nbsp;

U.S. startup Lucid Group Inc said on Tuesday it will start delivering luxury electric sedans with a Tesla-beating driving range in late October, posing a major challenge to the market leader whose sales of premium models have stagnated.

U.S. startup Lucid Group Inc said on Tuesday it will start delivering luxury electric sedans with a Tesla-beating driving range in late October, posing a major challenge to the market leader whose sales of premium models have stagnated. The California-based Lucid began production of its long-delayed Lucid Air cars at its Arizona factory on Tuesday, and said it aims to ramp plant's capacity up to 90,000 vehicles per annum in the next two years. The top-end Lucid Air Dream Edition will be available in late October, followed by less expensive models: Grand Touring, Touring and Air Pure. The company said it has received more than 13,000 reservations for Lucid Air models, and it has increased the planned total production of the Lucid Air Dream Edition to 520 vehicles. A version of the Lucid Air Dream Edition, priced at $169,000, received an official U.S. government rating of a 520-mile (837 km) driving range, over 100 miles more than its closest rival, Tesla's Model S, which is priced at $89,990. The higher range helped lead to a 23% jump in Lucid's shares this month. Speaking at the production site, Lucid Chief Executive Officer Peter Rawlinson, a former chief engineer on the Tesla Model S, said his company's cars have an advantage in battery technology and costs over the Model S. "We've ridden customers of the fear of range anxiety," he said. "The next big obstacle is cost effectiveness of electric cars. We've got to get the cost down." He said the Air Pure, the least expensive version with a price tag of $77,400, will go into production late next year. EXECUTION CHALLENGE The company, founded in 2007, received funding from Saudi Arabia's Public Investment Fund in 2018 before going public via a shell company https://www.reuters.com/article/us-lucidmotors-m-a-churchill-cap-iv-excl/exclusive-lucid-motors-nears-spac-deal-as-klein-launches-financing-sources-idUSKBN2AG2D6 in July. "(20)17 and (20)18 were brutal. The company was in a parlous state. And then I've got to say, we met a perfect partner," he said. Rawlinson, who left Tesla in 2012, faces tasks similar to those of Tesla in its early days, including how to address manufacturing challenges and scale up production. "I think the big challenge for Lucid will be execution," said Sam Abuelsamid, a principal analyst at Guidehouse Insights. "I think that they have a very good car. It's very attractive." Tesla CEO Elon Musk said in June that Tesla has canceled its plan to launch a Model S Plaid+, with a target driving range of 520 miles, saying the Model S Plaid itself is "just so good" https://www.reuters.com/business/autos-transportation/tesla-launch-high-end-model-s-plaid-fend-off-mercedes-porsche-2021-06-10. Musk reiterated this month that "production is hard". "Production with positive cash flow is extremely hard," he said, citing carmakers' razor-thin margins. Tesla's combined sales of Model S and Model X luxury models stood at only 1,890 in the second quarter of this year, down from 22,300 during the same period three years ago. Tesla does not break out figures for the two high-end models. "The Model S doesn't look fundamentally different from a Model S nine years ago," Abuelsamid said. "In the premium market, customers are looking for the latest and greatest." Musk in October 2020 cut the price of its Model S, shortly after Lucid announced the pricing of its base model. "The gauntlet has been thrown down! The prophecy will be fulfilled," he tweeted at that time. Electric vehicle maker Rivian, backed by Amazon.com Inc and now preparing for a public stock listing, earlier this month started production of electric pickup trucks. That move came ahead of similar expected moves by Tesla, General Motors Co and Ford Motor Co.

DO NOT PUBLISH ucid to start deliveries of electric cars with range exceeding Tesla's

Tesla chief Elon Musk called China a "leader in digitalisation" while applauding its automobile industry.

Musk's comments come as no surprise since his company Tesla has invested heavily in China and it has been expanding exponentially in the country.

Musk earlier this month had called&nbsp;China's automakers the “most competitive” in the world. The SpaceX boss asserted that Chinese automakers used the "best software".

<a href="https://www.wionews.com/technology/elon-musk-announces-humanoid-robot-tesla-bot-that-uses-artificial-intelligence-407062">Also Read:&nbsp;Elon Musk announces humanoid robot Tesla Bot that uses artificial intelligence</a>

Tesla has been on a high with profits surging this year. The company showed $1.1 billion in profits in the quarter ending June 30 as Musk declared 200,000 cars were produced in the period.

<a href="https://www.wionews.com/videos/elon-musk-defends-for-solarcity-acquisition-says-tesla-would-die-if-he-wasnt-ceo-397805">Watch:&nbsp;Musk defends&nbsp;SolarCity acquisition</a>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/elon-musk-defends-for-solarcity-acquisition-says-tesla-would-die-if-he-wasnt-ceo-397805/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Reports say Tesla's Shanghai factory is set to produce 300,000 cars until September with Model 3 sedans and Model Y sports cars being built for the Chinese and international markets.

<a href="https://www.wionews.com/business-economy/us-opens-formal-probe-into-tesla-autopilot-system-406076">Also Read:&nbsp;US opens formal probe into Tesla Autopilot system</a>

The company has reportedly already shipped 240,000 cars until August. However, the company faced scrutiny from Chinese authorities over data security as customers raged over faulty safety standards.&nbsp;

Musk had assured authorities that the company will address privacy issues and set up data centres in the country to "localise" all data for the cars as the company keeps its focus with China being the world's largest car market.&nbsp;

<a href="https://www.wionews.com/technology/tesla-says-ceo-elon-musks-compensation-for-2020-was-nil-405267">Also Read:&nbsp;Tesla says CEO Elon Musk's compensation for 2020 was nil</a>

Tesla has reportedly been restricted by some Chinese state officials due to national security concerns, however, Musk has continued to push for more cars to be produced with China being a key auto market.

Tesla has also been facing competition as Guangzhou-based electric carmaker XPeng raised a mega IPO recently in&nbsp;the Hong Kong market as the world switches to energy-efficient vehicles for the future.

(With inputs from Agencies)

 
&nbsp;

Tesla chief Elon Musk called China a "leader in digitalisation" while applauding its automobile industry. Musk's comments come as no surprise since his company Tesla has invested heavily in China and it has been expanding exponentially in the country.

Tesla chief Elon Musk called China a "leader in digitalisation" while applauding its automobile industry. Musk's comments come as no surprise since his company Tesla has invested heavily in China and it has been expanding exponentially in the country. Musk earlier this month had called China's automakers the “most competitive” in the world. The SpaceX boss asserted that Chinese automakers used the "best software". Also Read: Elon Musk announces humanoid robot Tesla Bot that uses artificial intelligence Tesla has been on a high with profits surging this year. The company showed $1.1 billion in profits in the quarter ending June 30 as Musk declared 200,000 cars were produced in the period. Watch: Musk defends SolarCity acquisition Reports say Tesla's Shanghai factory is set to produce 300,000 cars until September with Model 3 sedans and Model Y sports cars being built for the Chinese and international markets. Also Read: US opens formal probe into Tesla Autopilot system The company has reportedly already shipped 240,000 cars until August. However, the company faced scrutiny from Chinese authorities over data security as customers raged over faulty safety standards. Musk had assured authorities that the company will address privacy issues and set up data centres in the country to "localise" all data for the cars as the company keeps its focus with China being the world's largest car market. Also Read: Tesla says CEO Elon Musk's compensation for 2020 was nil Tesla has reportedly been restricted by some Chinese state officials due to national security concerns, however, Musk has continued to push for more cars to be produced with China being a key auto market. Tesla has also been facing competition as Guangzhou-based electric carmaker XPeng raised a mega IPO recently in the Hong Kong market as the world switches to energy-efficient vehicles for the future. (With inputs from Agencies)

Tesla chief Elon Musk praises China again

The technical probe into the three-day fire incident at a massive Tesla battery site in Australia has revealed that it may have been probably sparked by a coolant leak, safety regulators said on Tuesday. &nbsp;

The blaze had destroyed two giant Tesla batteries completely. &nbsp;&nbsp;

Watch:&nbsp;

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Safety regulator Energy Safe Victoria’s technical probe said, "The most likely root cause of the incident was a leak within the Megapack cooling system that caused a short circuit that led to a fire in an electronic component." &nbsp;&nbsp;

The fire broke out at Victoria Big Battery project, which is being built by French renewable energy firm Neoen using Tesla batteries. The site is near Geelong, about an hour's drive from Melbourne. &nbsp;&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/tesla-chief-elon-musk-praises-china-again-416500" hreflang="en">Tesla chief Elon Musk praises China again</a>

The fire started on July 30 with a 13-tonne lithium battery, which is the size of a shipping container. It took firefighters three days to bring it under control. &nbsp;&nbsp;

In a statement, incident controller Ian Beswicke had said, "There was one battery pack on fire to start with, but it did spread to a second pack that was very close to it." &nbsp;&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/facebook-is-delaying-an-instagram-app-for-users-under-the-age-of-13-416483" hreflang="en">Facebook is delaying an Instagram app for users under the age of 13</a>

The battery site, which is one of the largest in the world, is designed to store energy produced by renewables and send power to the grid. &nbsp;

Neoen Australia managing director Louis de Sambucy had said no one was injured in the incident. &nbsp;

In the review, the safety regulator said to have relied on an examination of the scene, a Tesla investigation, video footage and data from the incident. In the probe, both Tesla and Neoen had cooperated, it said. &nbsp;

(With inputs from agencies)&nbsp;

The technical probe into the three-day fire incident at a massive Tesla battery site in Australia has revealed that it may have been probably sparked by a coolant leak, safety regulators said on Tuesday.

The technical probe into the three-day fire incident at a massive Tesla battery site in Australia has revealed that it may have been probably sparked by a coolant leak, safety regulators said on Tuesday. The blaze had destroyed two giant Tesla batteries completely. Watch: × Safety regulator Energy Safe Victoria’s technical probe said, "The most likely root cause of the incident was a leak within the Megapack cooling system that caused a short circuit that led to a fire in an electronic component." The fire broke out at Victoria Big Battery project, which is being built by French renewable energy firm Neoen using Tesla batteries. The site is near Geelong, about an hour's drive from Melbourne. Also Read: Tesla chief Elon Musk praises China again The fire started on July 30 with a 13-tonne lithium battery, which is the size of a shipping container. It took firefighters three days to bring it under control. In a statement, incident controller Ian Beswicke had said, "There was one battery pack on fire to start with, but it did spread to a second pack that was very close to it." Also Read: Facebook is delaying an Instagram app for users under the age of 13 The battery site, which is one of the largest in the world, is designed to store energy produced by renewables and send power to the grid. Neoen Australia managing director Louis de Sambucy had said no one was injured in the incident. In the review, the safety regulator said to have relied on an examination of the scene, a Tesla investigation, video footage and data from the incident. In the probe, both Tesla and Neoen had cooperated, it said. (With inputs from agencies)

Coolant leak likely behind blaze at Australia's Tesla battery site, says probe

Nvidia Corp's planned purchase of British chip designer Arm seems to have raised several eyebrows. After Samsung and Amazon, now Tesla has also raised its concern over the deal.&nbsp;&nbsp;&nbsp;

Tesla Inc CEO Elon Musk has signaled competition concerns over $40 billion Nvidia-Arm deal, a Telegraph report said on Saturday, citing multiple sources.&nbsp;

Watch:&nbsp;Republicans want Biden to pay a political price for the crisis

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Earlier, smartphone maker Samsung Electronics Co Ltd and e-commerce giant Amazon.com Inc also lodged protest against the deal with the US authorities, the report added.&nbsp;&nbsp;&nbsp;

The US Federal Trade Commission had also started an in-depth probe into the takeover. The findings may come in some weeks, as per the report.

Also Read:&nbsp;<a href="https://www.wionews.com/world/biden-says-china-still-withholding-critical-info-on-covid-origins-409068" hreflang="en">Biden says China still withholding 'critical' info on Covid origins</a> &nbsp;&nbsp;

In June, Nvidia Corp submitted an application with the Chinese competition regulators to review a takeover of UK chip designer Arm, the Financial Times had reported, citing people familiar with the matter.&nbsp;&nbsp;&nbsp;

According to Chinese antitrust lawyers, the application sets in motion a period of scrutiny that could take up to 18 months, the report added.&nbsp;&nbsp;&nbsp;

Nvidia had also said it expects to close the Arm acquisition by March 2022, after having struck a deal with Japan's SoftBank Group in September 2020.&nbsp;&nbsp;&nbsp;

(With inputs from agencies)&nbsp;

Nvidia Corp's planned purchase of British chip designer Arm seems to have raised several eyebrows. After Samsung and Amazon, now Tesla has also raised its concern over the deal.

Nvidia Corp's planned purchase of British chip designer Arm seems to have raised several eyebrows. After Samsung and Amazon, now Tesla has also raised its concern over the deal. Tesla Inc CEO Elon Musk has signaled competition concerns over $40 billion Nvidia-Arm deal, a Telegraph report said on Saturday, citing multiple sources. Watch: Republicans want Biden to pay a political price for the crisis × Earlier, smartphone maker Samsung Electronics Co Ltd and e-commerce giant Amazon.com Inc also lodged protest against the deal with the US authorities, the report added. The US Federal Trade Commission had also started an in-depth probe into the takeover. The findings may come in some weeks, as per the report. Also Read: Biden says China still withholding 'critical' info on Covid origins In June, Nvidia Corp submitted an application with the Chinese competition regulators to review a takeover of UK chip designer Arm, the Financial Times had reported, citing people familiar with the matter. According to Chinese antitrust lawyers, the application sets in motion a period of scrutiny that could take up to 18 months, the report added. Nvidia had also said it expects to close the Arm acquisition by March 2022, after having struck a deal with Japan's SoftBank Group in September 2020. (With inputs from agencies)

Now, Tesla CEO Elon Musk signals competition concerns over Nvidia-Arm deal: Report 

&nbsp;Self-driving startups like Cruise and Pony.ai have begun testing their driverless cars in some parts of California in the past year, with an additional feature: Human operators.

While there is no driver behind the wheel, the passenger seat is occupied by a safety operator who "has a red button that can stop the vehicle just in case anything happens," Pony.ai CEO James Peng told Reuters.

The operator will be removed next year when Pony.ai, whose investors include Toyota Motor Corp, plans to deploy its driverless ride-hailing vehicles in certain areas of California. Still, a remote operator will monitor vehicles and provide guidance when the vehicles run into trouble, Peng said.

Alphabet Inc`s Waymo keeps personnel wearing fluorescent yellow vests at the ready to provide roadside assistance for its automated minivans in Phoenix, according to videos and to one of its avid riders, Joel Johnson, who has witnessed this.

Cruise, majority-owned by General Motors Co, started operating five driverless vehicles in San Francisco at night in October 2020 with a human in the front seat. The minder has "the ability to stop the vehicle at any point during the ride," a Cruise spokesman said.

"Cruise views the development of self-driving vehicles as not only a tech race, but also a trust race," the spokesman added. "Given that, we keep&nbsp;humans in the&nbsp;loop in testing driverless vehicles not&nbsp;only as a means of safe development, but also, beyond that, in order to build trust with the public."

South Korea`s automotive giant Hyundai Motor Group has invested in remote operation startup Ottopia, which will provide remote assistance for the robotaxi fleets by Hyundai`s self-driving car joint venture, Motional.

TESLA TO DRIVERS: `BE READY TO ACT`

The continued human presence in what are supposed to be software-driven, automated vehicles underscores the challenges facing the automated vehicle industry, which has consumed billions of dollars in investor capital over the past decade.

With no end in sight to the technical and regulatory obstacles to free-range, driverless robotaxis, some self-driving companies are accepting the need for human minders and scaling down their ambitions so they can start generating revenue in the near future, according to interviews with investors and startup executives.&nbsp;

Even Tesla Inc, which recently launched a new test version of what it calls “Full Self-Driving" software https://www.reuters.com/technology/musks-ai-day-confronts-tough-questions-about-teslas-technology-2021-08-18, said in a message to owners that drivers should "be prepared to act immediately, especially around blind corners, crossing intersections, and in narrow driving situations.” U.S. safety regulators have opened a formal investigation of the automaker`s Autopilot driver assistance system following a series of fatal accidents&nbsp;

WAYMO`S ROADSIDE ASSISTANCE

Waymo has been developing self-driving technology for more than a decade, and launched the first commercial robotaxis in Phoenix. But the successor to the pioneering Google self-driving car project still keeps humans in the loop.

 
Waymo told Reuters it runs four teams monitoring and assisting the fleet. Duties range from responding to riders` questions to providing, remotely, a "second pair of eyes" in tricky situations such as road closures. One of its teams provides roadside assistance to respond to collisions and other incidents.

The teams "work together to orchestrate the operation of our fully autonomous fleet throughout the day," Nathaniel Fairfield, a software engineer at Waymo, said in a statement to Reuters. 
Waymo does not operate vehicles by remote control, he said.

"We don’t use remote takeover, or `joysticking,` because we don`t think remote humans actually add safety," he said, citing potential wireless connection problems.

Waymo now plans to start commercial autonomous vehicle operations in San Francisco with safety drivers initially. The company relies on an army of vehicle operators to ramp up testing in the dense and complex city environment.

A former Waymo operator who participated in San Francisco testing this year said he had to "disengage" and intervene roughly 30 times a day in cases including the car failing to stop fast enough for red lights or vehicles in front that abruptly slow down or stop.

"You are on your toes... There are times where (you think) `Oh, I did not predict this behaviour at all. "This behaviour doesn`t usually happen,`" said the experienced safety operator, who spoke on condition of anonymity due to confidentiality concerns.

DIRTY LITTLE SECRET

Regulators are also keeping humans involved with automated vehicles. California laws "call for a two-way communication link that allows the manufacturer to continuously monitor the (driverless) vehicle’s location/status," the California Department of Motor Vehicles said in a statement to Reuters.

Other robotaxi companies are using remote operation as a way to get vehicles on the road.

In Las Vegas, startup Halo allows customers to summon a driverless car, which is driven by a remote human operator over fast, fifth-generation wireless networks operated by T-Mobile US Inc.

"Just a few years back, remote human assistance was a dirty little secret in this space,"&nbsp;said Elliot Katz, co-founder of teleoperation firm Phantom Auto.

"Virtually no one talked about it publicly because there was still this facade that these vehicles were just going to be able to drive autonomously, everywhere they need to go and do everything that a human driver would do."

He added: "Everyone now knows that`s not going to be the case."

Self-driving startups like Cruise and Pony.ai have begun testing their driverless cars in some parts of California in the past year, with an additional feature: Human operators.

Self-driving startups like Cruise and Pony.ai have begun testing their driverless cars in some parts of California in the past year, with an additional feature: Human operators. While there is no driver behind the wheel, the passenger seat is occupied by a safety operator who "has a red button that can stop the vehicle just in case anything happens," Pony.ai CEO James Peng told Reuters. The operator will be removed next year when Pony.ai, whose investors include Toyota Motor Corp, plans to deploy its driverless ride-hailing vehicles in certain areas of California. Still, a remote operator will monitor vehicles and provide guidance when the vehicles run into trouble, Peng said. Alphabet Inc`s Waymo keeps personnel wearing fluorescent yellow vests at the ready to provide roadside assistance for its automated minivans in Phoenix, according to videos and to one of its avid riders, Joel Johnson, who has witnessed this. Cruise, majority-owned by General Motors Co, started operating five driverless vehicles in San Francisco at night in October 2020 with a human in the front seat. The minder has "the ability to stop the vehicle at any point during the ride," a Cruise spokesman said. "Cruise views the development of self-driving vehicles as not only a tech race, but also a trust race," the spokesman added. "Given that, we keep humans in the loop in testing driverless vehicles not only as a means of safe development, but also, beyond that, in order to build trust with the public." South Korea`s automotive giant Hyundai Motor Group has invested in remote operation startup Ottopia, which will provide remote assistance for the robotaxi fleets by Hyundai`s self-driving car joint venture, Motional. TESLA TO DRIVERS: `BE READY TO ACT` The continued human presence in what are supposed to be software-driven, automated vehicles underscores the challenges facing the automated vehicle industry, which has consumed billions of dollars in investor capital over the past decade. With no end in sight to the technical and regulatory obstacles to free-range, driverless robotaxis, some self-driving companies are accepting the need for human minders and scaling down their ambitions so they can start generating revenue in the near future, according to interviews with investors and startup executives. Even Tesla Inc, which recently launched a new test version of what it calls “Full Self-Driving" software https://www.reuters.com/technology/musks-ai-day-confronts-tough-questions-about-teslas-technology-2021-08-18, said in a message to owners that drivers should "be prepared to act immediately, especially around blind corners, crossing intersections, and in narrow driving situations.” U.S. safety regulators have opened a formal investigation of the automaker`s Autopilot driver assistance system following a series of fatal accidents WAYMO`S ROADSIDE ASSISTANCE Waymo has been developing self-driving technology for more than a decade, and launched the first commercial robotaxis in Phoenix. But the successor to the pioneering Google self-driving car project still keeps humans in the loop. Waymo told Reuters it runs four teams monitoring and assisting the fleet. Duties range from responding to riders` questions to providing, remotely, a "second pair of eyes" in tricky situations such as road closures. One of its teams provides roadside assistance to respond to collisions and other incidents. The teams "work together to orchestrate the operation of our fully autonomous fleet throughout the day," Nathaniel Fairfield, a software engineer at Waymo, said in a statement to Reuters. Waymo does not operate vehicles by remote control, he said. "We don’t use remote takeover, or `joysticking,` because we don`t think remote humans actually add safety," he said, citing potential wireless connection problems. Waymo now plans to start commercial autonomous vehicle operations in San Francisco with safety drivers initially. The company relies on an army of vehicle operators to ramp up testing in the dense and complex city environment. A former Waymo operator who participated in San Francisco testing this year said he had to "disengage" and intervene roughly 30 times a day in cases including the car failing to stop fast enough for red lights or vehicles in front that abruptly slow down or stop. "You are on your toes... There are times where (you think) `Oh, I did not predict this behaviour at all. "This behaviour doesn`t usually happen,`" said the experienced safety operator, who spoke on condition of anonymity due to confidentiality concerns. DIRTY LITTLE SECRET Regulators are also keeping humans involved with automated vehicles. California laws "call for a two-way communication link that allows the manufacturer to continuously monitor the (driverless) vehicle’s location/status," the California Department of Motor Vehicles said in a statement to Reuters. Other robotaxi companies are using remote operation as a way to get vehicles on the road. In Las Vegas, startup Halo allows customers to summon a driverless car, which is driven by a remote human operator over fast, fifth-generation wireless networks operated by T-Mobile US Inc. "Just a few years back, remote human assistance was a dirty little secret in this space," said Elliot Katz, co-founder of teleoperation firm Phantom Auto. "Virtually no one talked about it publicly because there was still this facade that these vehicles were just going to be able to drive autonomously, everywhere they need to go and do everything that a human driver would do." He added: "Everyone now knows that`s not going to be the case."

A secret weapon for self-driving car startups: Humans

Billionaire&nbsp;Elon Musk has announced that Tesla is working on a&nbsp;humanoid robot called&nbsp;"Tesla Bot" that&nbsp;uses artificial intelligence and will launch the prototype in 2022.

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It comes after the&nbsp;US safety officials opened a preliminary investigation into&nbsp;Tesla's Autopilot after identifying 11 crashes involving the driver assistance system.

Speaking at Tesla's AI Day event, the billionaire entrepreneur said the robot, which stands around five foot eight inches tall, would be able to handle jobs from attaching bolts to cars with a wrench, or picking up groceries at stores.

The robot would have "profound implications for the economy," Musk said, addressing a labour shortage. He said it was important to make the machine not "super-expensive."

The AI Day event came amid growing scrutiny over the safety and capability of Tesla's "Full Self-Driving" advanced driver assistant system.

At the event on Thursday Tesla also unveiled chips it designed in-house&nbsp;

for its high-speed computer, Dojo, to help develop its automated driving system. Musk said Dojo would be operational next year.

He said Tesla will also introduce new hardware for its self-driving computer for its Cybertruck electric pick-up truck in "about a year or so."

A few years ago, Musk asked Tesla engineers "to design a superfast training computer and that's how we started Project Dojo," Tesla director Ganesh Venkataramanan said at the AI Day event.

Pushing the boundaries

Musk has a history of skirmishing with regulators, but the controversies have had little effect on&nbsp;Tesla's ascendance over the last year and a half as the company has hit key production targets.

His achievement in building&nbsp;Tesla&nbsp;from a fledgling startup into a pacesetter in the electric car market stands out as a success as other electric auto startups like Lordstown Motors and Nikola have stumbled.&nbsp;

At the same time, Musk has sparked blowback from critics as he pushed or flouted the rules on everything from his use of social media to discuss&nbsp;Tesla's operations to his response to Covid-19 health protocols required by local authorities near the California plant.

(With inputs from agencies)

Billionaire Elon Musk has announced that Tesla is working on a humanoid robot called "Tesla Bot" that uses artificial intelligence and will launch the prototype in 2022.

Billionaire Elon Musk has announced that Tesla is working on a humanoid robot called "Tesla Bot" that uses artificial intelligence and will launch the prototype in 2022. Join us to build the future of AI → https://t.co/Gdd4MNet6q pic.twitter.com/86cXMVnJ59 — Tesla (@Tesla) August 20, 2021 × It comes after the US safety officials opened a preliminary investigation into Tesla's Autopilot after identifying 11 crashes involving the driver assistance system. Speaking at Tesla's AI Day event, the billionaire entrepreneur said the robot, which stands around five foot eight inches tall, would be able to handle jobs from attaching bolts to cars with a wrench, or picking up groceries at stores. The robot would have "profound implications for the economy," Musk said, addressing a labour shortage. He said it was important to make the machine not "super-expensive." The AI Day event came amid growing scrutiny over the safety and capability of Tesla's "Full Self-Driving" advanced driver assistant system. At the event on Thursday Tesla also unveiled chips it designed in-house for its high-speed computer, Dojo, to help develop its automated driving system. Musk said Dojo would be operational next year. He said Tesla will also introduce new hardware for its self-driving computer for its Cybertruck electric pick-up truck in "about a year or so." A few years ago, Musk asked Tesla engineers "to design a superfast training computer and that's how we started Project Dojo," Tesla director Ganesh Venkataramanan said at the AI Day event. Pushing the boundaries Musk has a history of skirmishing with regulators, but the controversies have had little effect on Tesla's ascendance over the last year and a half as the company has hit key production targets. His achievement in building Tesla from a fledgling startup into a pacesetter in the electric car market stands out as a success as other electric auto startups like Lordstown Motors and Nikola have stumbled. At the same time, Musk has sparked blowback from critics as he pushed or flouted the rules on everything from his use of social media to discuss Tesla's operations to his response to Covid-19 health protocols required by local authorities near the California plant. (With inputs from agencies)

Elon Musk announces humanoid robot Tesla Bot that uses artificial intelligence

A US agency has launched an investigation into Tesla's "self-driving" Autopilot system after a series of crashes led to the death of one woman and injured 17 people. Molly Gambhir tells you more.

Gravitas: Is Tesla's Autopilot causing cars to crash?

U.S. auto safety regulators on Monday opened a formal safety probe into Tesla Inc's driver assistance system Autopilot after a series of crashes involving Tesla models and emergency vehicles.

U.S. auto safety regulators open formal safety probe into Tesla Inc's driver assistance system

US safety officials opened a preliminary investigation into&nbsp;Tesla's Autopilot after identifying 11 crashes involving the driver assistance system, officials said Monday.

The incidents dating back to 2018 included one fatal crash and seven that resulted in injuries, according to the National Highway Traffic Safety Administration.

Tesla's directions to drivers &nbsp;requires "active driver supervision" behind the wheel, but critics, including in Congress, have said Autopilot can be easily fooled and have called for NHTSA to take action.

US safety officials opened a preliminary investigation into Tesla's Autopilot after identifying 11 crashes involving the driver assistance system, officials said Monday.

US safety officials opened a preliminary investigation into Tesla's Autopilot after identifying 11 crashes involving the driver assistance system, officials said Monday. The incidents dating back to 2018 included one fatal crash and seven that resulted in injuries, according to the National Highway Traffic Safety Administration. Tesla's directions to drivers requires "active driver supervision" behind the wheel, but critics, including in Congress, have said Autopilot can be easily fooled and have called for NHTSA to take action.

US opens probe of Tesla Autopilot after 11 crashes: Agency

The US government has opened a formal investigation into Tesla’s Autopilot partially automated driving system after a series of collisions with parked emergency vehicles.

The investigation covers 765,000 vehicles, almost everything that Tesla has sold in the US since the start of the 2014 model year. Of the crashes identified by the National Highway Traffic Safety Administration as part of the investigation, 17 people were injured and one was killed.

NHTSA says it has identified 11 crashes since 2018 in which Teslas on Autopilot or Traffic-Aware Cruise Control have hit vehicles at scenes where first responders have used flashing lights, flares, an illuminated arrow board or cones warning of hazards. The agency announced the action Monday in a posting on its website.

The investigation covers Tesla’s entire current model lineup, the Models Y, X, S and 3 from the 2014 through 2021 model years.

The National Transportation Safety Board, which also has investigated some of the Tesla crashes, has recommended that NHTSA and Tesla limit Autopilot’s use to areas where it can safely operate. The NTSB also recommended that NHTSA require Tesla to have a better system to make sure drivers are paying attention. NHTSA has not taken action on any of the recommendations. The NTSB has no enforcement powers and can only make recommendations to other federal agencies such as NHTSA.

Autopilot has frequently been misused by Tesla drivers, who have been caught driving drunk or even riding in the back seat while a car rolled down a California highway.

The agency has sent investigative teams to 31 crashes involving partially automated driver-assist systems since June of 2016. Such systems can keep a vehicle centred in its lane and a safe distance from vehicles in front of it. Of those crashes, 25 involved Tesla Autopilot of which 10 deaths were reported, according to data released by the agency.

Tesla and other manufacturers warn that drivers using the systems must be ready to intervene at all times. Teslas using the system have crashed into semis crossing in front of them, stopped emergency vehicles and a roadway barrier.

A message was left early Monday seeking comment from Tesla, which has disbanded its media relations office.

The crashes into emergency vehicles cited by NHTSA began on Jan. 22, 2018, in Culver City, California, near Los Angeles when a Tesla using Autopilot struck a parked firetruck that was parked partially in the travel lanes with its lights flashing. Crews were handling another crash at the time.

Since then, the agency said there were crashes in Laguna Beach, California; Norwalk, Connecticut; Cloverdale, Indiana; West Bridgewater, Massachusetts; Cochise County, Arizona; Charlotte, North Carolina, Montgomery County, Texas; Lansing, Michigan; and Miami, Florida.

“The investigation will assess the technologies and methods used to monitor, assist and enforce the driver’s engagement with the dynamic driving task during Autopilot operation,” NHTSA said in its investigation documents.

In addition, the probe will cover object and event detection by the system, as well as where it is allowed to operate. NHTSA says it will examine “contributing circumstances” to the crashes, as well as similar crashes.

An investigation could lead to a recall or other enforcement action by NHTSA.

“NHTSA reminds the public that no commercially available motor vehicles today are capable of driving themselves,” the agency said in a statement. “Every available vehicle requires a human driver to be in control at all times, and all state laws hold human drivers responsible for the operation of their vehicles.”

The agency said it has “robust enforcement tools” to protect the public and investigate potential safety issues, and it will act when it finds evidence “of noncompliance or an unreasonable safety risk.”

In June NHTSA ordered all automakers to report any crashes involving fully autonomous vehicles or partially automated driver-assist systems.

The measures show the agency has started to take a tougher stance on automated vehicle safety than in the past. It has been reluctant to issue any regulations of the new technology for fear of hampering the adoption of the potentially life-saving systems.

Shares of Tesla Inc., based in Palo Alto, California, fell nearly 2% before the opening bell.

The US government has opened a formal investigation into Tesla’s Autopilot partially automated driving system after a series of collisions with parked emergency vehicles.

The US government has opened a formal investigation into Tesla’s Autopilot partially automated driving system after a series of collisions with parked emergency vehicles. The investigation covers 765,000 vehicles, almost everything that Tesla has sold in the US since the start of the 2014 model year. Of the crashes identified by the National Highway Traffic Safety Administration as part of the investigation, 17 people were injured and one was killed. NHTSA says it has identified 11 crashes since 2018 in which Teslas on Autopilot or Traffic-Aware Cruise Control have hit vehicles at scenes where first responders have used flashing lights, flares, an illuminated arrow board or cones warning of hazards. The agency announced the action Monday in a posting on its website. The investigation covers Tesla’s entire current model lineup, the Models Y, X, S and 3 from the 2014 through 2021 model years. The National Transportation Safety Board, which also has investigated some of the Tesla crashes, has recommended that NHTSA and Tesla limit Autopilot’s use to areas where it can safely operate. The NTSB also recommended that NHTSA require Tesla to have a better system to make sure drivers are paying attention. NHTSA has not taken action on any of the recommendations. The NTSB has no enforcement powers and can only make recommendations to other federal agencies such as NHTSA. Autopilot has frequently been misused by Tesla drivers, who have been caught driving drunk or even riding in the back seat while a car rolled down a California highway. The agency has sent investigative teams to 31 crashes involving partially automated driver-assist systems since June of 2016. Such systems can keep a vehicle centred in its lane and a safe distance from vehicles in front of it. Of those crashes, 25 involved Tesla Autopilot of which 10 deaths were reported, according to data released by the agency. Tesla and other manufacturers warn that drivers using the systems must be ready to intervene at all times. Teslas using the system have crashed into semis crossing in front of them, stopped emergency vehicles and a roadway barrier. A message was left early Monday seeking comment from Tesla, which has disbanded its media relations office. The crashes into emergency vehicles cited by NHTSA began on Jan. 22, 2018, in Culver City, California, near Los Angeles when a Tesla using Autopilot struck a parked firetruck that was parked partially in the travel lanes with its lights flashing. Crews were handling another crash at the time. Since then, the agency said there were crashes in Laguna Beach, California; Norwalk, Connecticut; Cloverdale, Indiana; West Bridgewater, Massachusetts; Cochise County, Arizona; Charlotte, North Carolina, Montgomery County, Texas; Lansing, Michigan; and Miami, Florida. “The investigation will assess the technologies and methods used to monitor, assist and enforce the driver’s engagement with the dynamic driving task during Autopilot operation,” NHTSA said in its investigation documents. In addition, the probe will cover object and event detection by the system, as well as where it is allowed to operate. NHTSA says it will examine “contributing circumstances” to the crashes, as well as similar crashes. An investigation could lead to a recall or other enforcement action by NHTSA. “NHTSA reminds the public that no commercially available motor vehicles today are capable of driving themselves,” the agency said in a statement. “Every available vehicle requires a human driver to be in control at all times, and all state laws hold human drivers responsible for the operation of their vehicles.” The agency said it has “robust enforcement tools” to protect the public and investigate potential safety issues, and it will act when it finds evidence “of noncompliance or an unreasonable safety risk.” In June NHTSA ordered all automakers to report any crashes involving fully autonomous vehicles or partially automated driver-assist systems. The measures show the agency has started to take a tougher stance on automated vehicle safety than in the past. It has been reluctant to issue any regulations of the new technology for fear of hampering the adoption of the potentially life-saving systems. Shares of Tesla Inc., based in Palo Alto, California, fell nearly 2% before the opening bell.

US opens formal probe into Tesla Autopilot system

Tesla Inc said on Friday, Chief Executive Officer Elon Musk's total compensation for 2020 was nil, compared to $23,760 in 2019. 
 
The electric-car maker also said in a regulatory filing that finance chief Zachary Kirkhorn's total compensation was $46.6 million, versus the $21.2 million he got in 2019. 
 
The pay package of Musk, who is also a major shareholder and CEO of rocket maker SpaceX, requires Tesla's market capitalisation and financial growth to hit a series of rising targets. 
 
As of April, Musk had qualified for Tesla options in his 2018 pay package that are now worth over $30 billion. 
 
Tesla added "Technoking of Tesla" to Musk's list of official titles in a regulatory filing in March that also named Kirkhorn "Master of Coin." 
 
Earlier this month, Reuters reported that Musk will be also subject of a biography by Walter Isaacson, the US&nbsp;author, who penned a best-selling tome on Apple co-founder Steve Jobs.

Tesla Inc said on Friday, Chief Executive Officer Elon Musk's total compensation for 2020 was nil, compared to $23,760 in 2019. The electric-car maker also said in a regulatory filing that finance chief Zachary Kirkhorn's total compensation was $46.

Tesla Inc said on Friday, Chief Executive Officer Elon Musk's total compensation for 2020 was nil, compared to $23,760 in 2019. The electric-car maker also said in a regulatory filing that finance chief Zachary Kirkhorn's total compensation was $46.6 million, versus the $21.2 million he got in 2019. The pay package of Musk, who is also a major shareholder and CEO of rocket maker SpaceX, requires Tesla's market capitalisation and financial growth to hit a series of rising targets. As of April, Musk had qualified for Tesla options in his 2018 pay package that are now worth over $30 billion. Tesla added "Technoking of Tesla" to Musk's list of official titles in a regulatory filing in March that also named Kirkhorn "Master of Coin." Earlier this month, Reuters reported that Musk will be also subject of a biography by Walter Isaacson, the US author, who penned a best-selling tome on Apple co-founder Steve Jobs.

Tesla says CEO Elon Musk's compensation for 2020 was nil

India said it has no plans to cut import duties on electric vehicles, weeks after Tesla Inc. appealed to the government to slash taxes. India however added that it is taking steps to promote use of electric cars.

India says has no plans to cut import duties after Tesla appeals to slash taxes

Tesla Inc Chief Executive Officer Elon Musk on Friday showed his support for 'Fortnite' maker Epic Games that has challenged Apple Inc's fees on its App Store. 
 
"Apple app store fees are a de facto global tax on the Internet. Epic is right," he said in a tweet.&nbsp; 
 
Apple is battling a lawsuit filed last year by Epic Games, alleging that the iPhone maker has abused its dominance in the market for mobile apps. Epic broke Apple's rules when it introduced its own in-app payment system in 'Fortnite' to circumvent Apple's commissions. 
 
Apple, which has defended its App Store practices both in court and to lawmakers in hearings, did not immediately respond to a Reuters request for comment. 
 
Musk late on Friday said that though he likes using Apple products, the iPhone maker is 'overcharging with App Store'. 
 
"I mean 30% fees for doing almost zero incremental work is completely unreasonable. Epic wouldn’t bother processing their own payments if App Store fees were fair," he tweeted. 
 
Separately, Musk denied a report that he once had a chat with Apple boss Tim Cook related to a possible acquisition of the electric carmaker and taking over as the iPhone maker's CEO.&nbsp;

"There was a point where I requested to meet with Cook to talk about Apple buying Tesla. There were no conditions of acquisition proposed whatsoever. He refused to meet," Musk said in another tweet.&nbsp; 
 
On Tesla's call with Wall Street analysts earlier this week, Musk took shots at Apple, criticising the company's "walled garden" or its tightly controlled tech ecosystem and its usage of cobalt, a key mineral for making lithium-ion batteries. 
 
"I don’t want to be CEO of anything," Musk tweeted in response to a comment.

Tesla Inc Chief Executive Officer Elon Musk on Friday showed his support for 'Fortnite' maker Epic Games that has challenged Apple Inc's fees on its App Store. "Apple app store fees are a de facto global tax on the Internet.

Tesla Inc Chief Executive Officer Elon Musk on Friday showed his support for 'Fortnite' maker Epic Games that has challenged Apple Inc's fees on its App Store. "Apple app store fees are a de facto global tax on the Internet. Epic is right," he said in a tweet. Apple is battling a lawsuit filed last year by Epic Games, alleging that the iPhone maker has abused its dominance in the market for mobile apps. Epic broke Apple's rules when it introduced its own in-app payment system in 'Fortnite' to circumvent Apple's commissions. Apple, which has defended its App Store practices both in court and to lawmakers in hearings, did not immediately respond to a Reuters request for comment. Musk late on Friday said that though he likes using Apple products, the iPhone maker is 'overcharging with App Store'. "I mean 30% fees for doing almost zero incremental work is completely unreasonable. Epic wouldn’t bother processing their own payments if App Store fees were fair," he tweeted. Separately, Musk denied a report that he once had a chat with Apple boss Tim Cook related to a possible acquisition of the electric carmaker and taking over as the iPhone maker's CEO. "There was a point where I requested to meet with Cook to talk about Apple buying Tesla. There were no conditions of acquisition proposed whatsoever. He refused to meet," Musk said in another tweet. On Tesla's call with Wall Street analysts earlier this week, Musk took shots at Apple, criticising the company's "walled garden" or its tightly controlled tech ecosystem and its usage of cobalt, a key mineral for making lithium-ion batteries. "I don’t want to be CEO of anything," Musk tweeted in response to a comment.

Musk says "Epic is right," takes sides in battle with Apple

<a href="https://www.wionews.com/topics/elon-musk">Elon Musk</a> has refuted a story based on an upcoming book about <a href="https://www.wionews.com/topics/tesla">Tesla</a> that he tried to replace Tim Cook as <a href="https://www.wionews.com/topics/apple">Apple</a> CEO. 
 
The book, titled 'Power Play: Tesla, Elon Musk, and the Bet of the Century' by The Wall Street Journal reporter Tim Higgins, claims that Musk reportedly wanted to become the Apple CEO in a 2016 phone call with Cook, who suggested to Musk that the iPhone maker acquire the electric car-maker. 
 
Musk reportedly said that he wished to become Apple CEO, reports The Los Angeles Times, quoting from the book.

Also read |&nbsp;<a href="https://www.wionews.com/technology/musk-says-epic-is-right-takes-sides-in-battle-with-apple-401887">Musk says "Epic is right," takes sides in battle with Apple</a> 
 
In a tweet on Friday, Musk denied that any such conversation ever took place. 
 
"Cook &amp; I have never spoken or written to each other ever. There was a point where I requested to meet with Cook to talk about Apple buying Tesla. There were no conditions of acquisition proposed whatsoever," Musk posted.

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Cook &amp; I have never spoken or written to each other ever. 
 
There was a point where I requested to meet with Cook to talk about Apple buying Tesla. There were no conditions of acquisition proposed whatsoever. 
 
He refused to meet. Tesla was worth about 6% of today’s value.
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1421150913075503112?ref_src=twsrc%5Etfw">July 30, 2021</a></blockquote>
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"He refused to meet. Tesla was worth about 6 per cent&nbsp;of today's value," the Tesla CEO added. 
 
In a recent interview with The New York Times, Cook had said: "I've never spoken to Elon, although I have great admiration and respect for the company he's built". 
 
Cook replied after Musk in December last year tweeted that he offered Cook to sell his electric car company at one-tenth of its value during the struggling period in 2017 but the Apple CEO refused to meet him. 
 
Musk had said that during the "darkest days" for Tesla Model 3, he wanted to sell the company off. 
 
"During the darkest days of the Model 3 programme, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He refused to take the meeting," Musk had said in a tweet.

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During the darkest days of the Model 3 program, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He refused to take the meeting.
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1341485211209637889?ref_src=twsrc%5Etfw">December 22, 2020</a></blockquote>
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&nbsp;

Elon Musk has refuted a story based on an upcoming book about Tesla that he tried to replace Tim Cook as Apple CEO. The book, titled 'Power Play: Tesla, Elon Musk, and the Bet of the Century' by The Wall Street Journal reporter Tim Higgins, claims that Musk reportedly wanted to become the Apple CEO in a 2016 phone call with Cook, who suggested to Musk that the iPhone maker acquire the electric car-maker.

Elon Musk has refuted a story based on an upcoming book about Tesla that he tried to replace Tim Cook as Apple CEO. The book, titled 'Power Play: Tesla, Elon Musk, and the Bet of the Century' by The Wall Street Journal reporter Tim Higgins, claims that Musk reportedly wanted to become the Apple CEO in a 2016 phone call with Cook, who suggested to Musk that the iPhone maker acquire the electric car-maker. Musk reportedly said that he wished to become Apple CEO, reports The Los Angeles Times, quoting from the book. Also read | Musk says "Epic is right," takes sides in battle with Apple In a tweet on Friday, Musk denied that any such conversation ever took place. "Cook & I have never spoken or written to each other ever. There was a point where I requested to meet with Cook to talk about Apple buying Tesla. There were no conditions of acquisition proposed whatsoever," Musk posted. Cook & I have never spoken or written to each other ever. There was a point where I requested to meet with Cook to talk about Apple buying Tesla. There were no conditions of acquisition proposed whatsoever. He refused to meet. Tesla was worth about 6% of today’s value. — Elon Musk (@elonmusk) July 30, 2021 × "He refused to meet. Tesla was worth about 6 per cent of today's value," the Tesla CEO added. In a recent interview with The New York Times, Cook had said: "I've never spoken to Elon, although I have great admiration and respect for the company he's built". Cook replied after Musk in December last year tweeted that he offered Cook to sell his electric car company at one-tenth of its value during the struggling period in 2017 but the Apple CEO refused to meet him. Musk had said that during the "darkest days" for Tesla Model 3, he wanted to sell the company off. "During the darkest days of the Model 3 programme, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He refused to take the meeting," Musk had said in a tweet. During the darkest days of the Model 3 program, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He refused to take the meeting. — Elon Musk (@elonmusk) December 22, 2020 ×

Musk denies attempting to replace Cook as Apple CEO, says he tried to sell Tesla

Trevor Milton, the founder, and former chief executive of&nbsp;Nikola&nbsp;Corp&nbsp;was freed on $100 million bail&nbsp;after pleading not guilty to charges alleging that he defrauded&nbsp;investors by lying to them about the electric- and hydrogen-powered truck maker.

In an indictment, prosecutors in New York charged the 39-year-old billionaire with two counts of securities fraud and one count of wire fraud over his statements from November 2019 to September 2020 about&nbsp;Nikola's products and technology.

Authorities said Milton relied on a public relations blitz of social media posts as well as TV and podcast interviews to drive up&nbsp;Nikola's stock price, become one of the world's 100 richest people and "elevate" his stature as an entrepreneur.

"Milton lied about nearly every aspect of the business," US&nbsp;Attorney Audrey Strauss in Manhattan said at a news conference. "Today's criminal charges against Milton are where the rubber meets the road."

The US&nbsp;Securities and Exchange Commission filed related civil charges against Milton.

Milton was taken into custody on Thursday, and was expected to appear in Manhattan federal court later in the day.

Nikola&nbsp;said in a statement it has cooperated with the government and is focused on delivering Tre battery-electric trucks this year. The company was not charged.

In afternoon trading,&nbsp;Nikola&nbsp;shares were down $1.17, or 8.2 per cent, to $13.02, after falling as low as $12.60.

The charges mark a steep downfall for Milton, who founded Phoenix-based&nbsp;Nikola&nbsp;in 2014 and was its CEO until June 2020, when it went public after merging with a special-purpose acquisition company, or SPAC.

He stepped down last September as&nbsp;Nikola's executive chairman, two weeks after short-seller Hindenburg Research labeled the company a "fraud" and said it made many misleading statements about its technology.

Prosecutors said Milton's improper statements included that&nbsp;Nikola&nbsp;had built an electric- and hydrogen-powered "Badger" pickup from the "ground up," developed batteries in-house that Milton knew it was purchasing elsewhere, and had early success in creating a "Nikola&nbsp;One" semi-truck he knew did not work.

Strauss said the closest the&nbsp;Nikola&nbsp;One ever came to driving was when company engineers rolled a prototype down a hill so it could be filmed for a commercial.

Prosecutors said that upon deciding to take&nbsp;Nikola&nbsp;public, Milton became preoccupied with keeping its stock price high.

The indictment said that on March 2, 2020, the day before&nbsp;Nikola&nbsp;revealed it would go public, Milton emailed a board member that "we need to make sure we are getting retail investors on our side. That is what prevents the stock short selling. This is super important to me."

According to the SEC, Milton targeted ordinary retail investors he called "Robinhood investors," portraying himself as a "different" type of CEO who would be "transparent" about his company, portraying it as a trailblazer.

"Corporate officers cannot say whatever they want on social media without regard for the federal securities laws," SEC enforcement chief Gurbir Grewal said at the news conference.

Prosecutors said Milton's&nbsp;Nikola&nbsp;stake was worth at least $8.5 billion soon after the announcements regarding the Badger.

Milton is still worth $1.2 billion, Forbes magazine said on Thursday.

Tesla Inc is among&nbsp;Nikola's rivals in the electric truck sector. Both companies' names derive from&nbsp;Nikola&nbsp;Tesla, an inventor whose work included electric power, and Tesla CEO Elon Musk is now among the world's richest people.

In 2018, Musk and Tesla each agreed to pay $20 million in civil fines to settle SEC charges over a Musk tweet.

(With inputs from agencies)

Trevor Milton, the founder, and former chief executive of Nikola Corp was freed on $100 million bail after pleading not guilty to charges alleging that he defrauded investors by lying to them about the electric- and hydrogen-powered truck maker.

Trevor Milton, the founder, and former chief executive of Nikola Corp was freed on $100 million bail after pleading not guilty to charges alleging that he defrauded investors by lying to them about the electric- and hydrogen-powered truck maker. In an indictment, prosecutors in New York charged the 39-year-old billionaire with two counts of securities fraud and one count of wire fraud over his statements from November 2019 to September 2020 about Nikola's products and technology. Authorities said Milton relied on a public relations blitz of social media posts as well as TV and podcast interviews to drive up Nikola's stock price, become one of the world's 100 richest people and "elevate" his stature as an entrepreneur. "Milton lied about nearly every aspect of the business," US Attorney Audrey Strauss in Manhattan said at a news conference. "Today's criminal charges against Milton are where the rubber meets the road." The US Securities and Exchange Commission filed related civil charges against Milton. Milton was taken into custody on Thursday, and was expected to appear in Manhattan federal court later in the day. Nikola said in a statement it has cooperated with the government and is focused on delivering Tre battery-electric trucks this year. The company was not charged. In afternoon trading, Nikola shares were down $1.17, or 8.2 per cent, to $13.02, after falling as low as $12.60. The charges mark a steep downfall for Milton, who founded Phoenix-based Nikola in 2014 and was its CEO until June 2020, when it went public after merging with a special-purpose acquisition company, or SPAC. He stepped down last September as Nikola's executive chairman, two weeks after short-seller Hindenburg Research labeled the company a "fraud" and said it made many misleading statements about its technology. Prosecutors said Milton's improper statements included that Nikola had built an electric- and hydrogen-powered "Badger" pickup from the "ground up," developed batteries in-house that Milton knew it was purchasing elsewhere, and had early success in creating a "Nikola One" semi-truck he knew did not work. Strauss said the closest the Nikola One ever came to driving was when company engineers rolled a prototype down a hill so it could be filmed for a commercial. Prosecutors said that upon deciding to take Nikola public, Milton became preoccupied with keeping its stock price high. The indictment said that on March 2, 2020, the day before Nikola revealed it would go public, Milton emailed a board member that "we need to make sure we are getting retail investors on our side. That is what prevents the stock short selling. This is super important to me." According to the SEC, Milton targeted ordinary retail investors he called "Robinhood investors," portraying himself as a "different" type of CEO who would be "transparent" about his company, portraying it as a trailblazer. "Corporate officers cannot say whatever they want on social media without regard for the federal securities laws," SEC enforcement chief Gurbir Grewal said at the news conference. Prosecutors said Milton's Nikola stake was worth at least $8.5 billion soon after the announcements regarding the Badger. Milton is still worth $1.2 billion, Forbes magazine said on Thursday. Tesla Inc is among Nikola's rivals in the electric truck sector. Both companies' names derive from Nikola Tesla, an inventor whose work included electric power, and Tesla CEO Elon Musk is now among the world's richest people. In 2018, Musk and Tesla each agreed to pay $20 million in civil fines to settle SEC charges over a Musk tweet. (With inputs from agencies)

Nikola founder Trevor Milton freed on $100 million bail after fraud arrest

Volkswagen must change its approach to how it sells electric vehicles (EV) in China, the world's largest car market, Chief Executive Herbert Diess said, in a response to poor EV sales there.

"Sales are picking up but it requires focus and different approaches as the customers for the EVs are much younger and different to our customer base we are having with the more traditional brands like Volkswagen in China," Diess told journalists after first-half results release.

By the end of the year, Volkswagen wants to sell between 80,000 and 100,000 of its all-electric ID series in China. In the first half, deliveries of battery electric vehicles (BEV) in China stood at 18,285.

"We are noticing that we have to change our approach," Diess said.

"We have the financial power, we have the sales network, we are coming forward with new formats in the shopping malls, we are becoming much more digital and it's going fast because we are much faster in China than we are in the rest of the world."

Volkswagen must change its approach to how it sells electric vehicles (EV) in China, the world's largest car market, Chief Executive Herbert Diess said, in a response to poor EV sales there.

Volkswagen must change its approach to how it sells electric vehicles (EV) in China, the world's largest car market, Chief Executive Herbert Diess said, in a response to poor EV sales there. "Sales are picking up but it requires focus and different approaches as the customers for the EVs are much younger and different to our customer base we are having with the more traditional brands like Volkswagen in China," Diess told journalists after first-half results release. By the end of the year, Volkswagen wants to sell between 80,000 and 100,000 of its all-electric ID series in China. In the first half, deliveries of battery electric vehicles (BEV) in China stood at 18,285. "We are noticing that we have to change our approach," Diess said. "We have the financial power, we have the sales network, we are coming forward with new formats in the shopping malls, we are becoming much more digital and it's going fast because we are much faster in China than we are in the rest of the world."

We need to change e-car approach in China: Volkswagen CEO

Tesla Inc showed signs of divergent strategies in the world’s two biggest automotive markets, raising prices to boost profit margins in the United States while keeping prices steady in China and hoping to grow sales there.

Tesla raised prices for the most affordable versions of Model 3 and Model Y about a dozen times this year in the United States, according to data tracked by Reuters. At the same time, Tesla recently introduced an affordable Model Y version in China, where it refrained from price hikes.

Tesla posted record vehicle deliveries in the second quarter, and the price increases in North America boosted quarterly profits to a record.

But in China, the world’s biggest electric vehicle (EV) market, Tesla faces competition from local rivals and problems that include product recalls, high-profile protests by consumers and pressure from regulators.

Bernstein analyst Toni Sacconaghi said the introduction of the lower-priced Model Y in China ”may make sustained margin improvement difficult” for Tesla and raises questions about ”the health of Chinese demand.”

A study by Bernstein analysts found Tesla owners in China were less enthusiastic and had lower repurchase intentions than owners in the United States and Europe.

Tesla raised prices for Model Y Long Range at least six times in the United States this year, bumping by $5,500 to $53,990. In China, the world’s most valuable carmaker raised prices of the Model Y SUV and Model 3 sedan only once this year.

The Model Y version has a price tag of 276,000 yuan ($42,394). The company also has launched promotional campaigns in China such as loan offers.

”I think Tesla is looking to be as competitive as it can be in China. Lower prices will be a part of that aggressive market positioning,” Roth Capital Partners analyst Craig Irwin said. ”There is a very large difference in battery prices in the U.S. and China, as well as local vehicle manufacturing costs.”

Tesla started production at its Shanghai factory in late 2019. It has boosted the sourcing of cheaper local components, including batteries from China’s CATL and LG’s Chinese factory.

”It wasn’t so long ago that the group was trimming prices in the U.S. to gain scale and maximize profitability, and it feels like we’re now seeing that in China too,” Hargreaves Lansdown analyst Nicholas Hyett said.

The low cost of producing local EVs in China would have a lasting effect on Tesla, said Gene Munster at Loup Ventures.

”Teslas are on average 3x the cost of a typical EV made in China so they have to be priced less than the U.S. to compete,” Munster said. ”Prices of Teslas in China will be below (the) rest of the world for the next decade.”

Tesla also cut costs and boosted margins in the U.S. market by getting rid of some parts like a radar sensor and lumbar support.

Tesla shares rebounded 0.5% in morning trade on Wednesday after falling the previous session.

CHINA MARKET SHARE SLIPS

In China, Tesla’s share slipped to 11% in the battery electric vehicle market, which excludes plug-in hybrid cars, in the second quarter from 18% a year earlier, according to GLJ research. But data from Morgan Stanley showed Tesla still held a U.S. battery-electric market share of nearly 70% as of February, although that was down from 81% a year earlier.

China accounts for 44% of the global EV market, a much bigger share than the 17% held by the United States.

In China, Tesla faces competition from electric vehicle makers like Nio Inc and Xpeng Inc. In the United States, Tesla’s brand is stronger and its main rivals are legacy automakers like Ford and General Motors, which generate only a fraction of their sales from EVs.

GLOBAL CHIP SHORTAGE

Tesla CEO Elon Musk has reiterated that the company’s mission is to make electric cars affordable and has blamed vehicle price increases on a shortage of chips and raw materials.

Tesla is coping with the chip shortage by using alternative chips and rewriting software, Musk said.

He provided a cautious outlook for chip shortage. ”It does seem like it’s getting better,” he said on the second-quarter earnings call, but added: ”it’s hard to predict.”

Tesla Inc showed signs of divergent strategies in the world’s two biggest automotive markets, raising prices to boost profit margins in the United States while keeping prices steady in China and hoping to grow sales there.

Tesla Inc showed signs of divergent strategies in the world’s two biggest automotive markets, raising prices to boost profit margins in the United States while keeping prices steady in China and hoping to grow sales there. Tesla raised prices for the most affordable versions of Model 3 and Model Y about a dozen times this year in the United States, according to data tracked by Reuters. At the same time, Tesla recently introduced an affordable Model Y version in China, where it refrained from price hikes. Tesla posted record vehicle deliveries in the second quarter, and the price increases in North America boosted quarterly profits to a record. But in China, the world’s biggest electric vehicle (EV) market, Tesla faces competition from local rivals and problems that include product recalls, high-profile protests by consumers and pressure from regulators. Bernstein analyst Toni Sacconaghi said the introduction of the lower-priced Model Y in China ”may make sustained margin improvement difficult” for Tesla and raises questions about ”the health of Chinese demand.” A study by Bernstein analysts found Tesla owners in China were less enthusiastic and had lower repurchase intentions than owners in the United States and Europe. Tesla raised prices for Model Y Long Range at least six times in the United States this year, bumping by $5,500 to $53,990. In China, the world’s most valuable carmaker raised prices of the Model Y SUV and Model 3 sedan only once this year. The Model Y version has a price tag of 276,000 yuan ($42,394). The company also has launched promotional campaigns in China such as loan offers. ”I think Tesla is looking to be as competitive as it can be in China. Lower prices will be a part of that aggressive market positioning,” Roth Capital Partners analyst Craig Irwin said. ”There is a very large difference in battery prices in the U.S. and China, as well as local vehicle manufacturing costs.” Tesla started production at its Shanghai factory in late 2019. It has boosted the sourcing of cheaper local components, including batteries from China’s CATL and LG’s Chinese factory. ”It wasn’t so long ago that the group was trimming prices in the U.S. to gain scale and maximize profitability, and it feels like we’re now seeing that in China too,” Hargreaves Lansdown analyst Nicholas Hyett said. The low cost of producing local EVs in China would have a lasting effect on Tesla, said Gene Munster at Loup Ventures. ”Teslas are on average 3x the cost of a typical EV made in China so they have to be priced less than the U.S. to compete,” Munster said. ”Prices of Teslas in China will be below (the) rest of the world for the next decade.” Tesla also cut costs and boosted margins in the U.S. market by getting rid of some parts like a radar sensor and lumbar support. Tesla shares rebounded 0.5% in morning trade on Wednesday after falling the previous session. CHINA MARKET SHARE SLIPS In China, Tesla’s share slipped to 11% in the battery electric vehicle market, which excludes plug-in hybrid cars, in the second quarter from 18% a year earlier, according to GLJ research. But data from Morgan Stanley showed Tesla still held a U.S. battery-electric market share of nearly 70% as of February, although that was down from 81% a year earlier. China accounts for 44% of the global EV market, a much bigger share than the 17% held by the United States. In China, Tesla faces competition from electric vehicle makers like Nio Inc and Xpeng Inc. In the United States, Tesla’s brand is stronger and its main rivals are legacy automakers like Ford and General Motors, which generate only a fraction of their sales from EVs. GLOBAL CHIP SHORTAGE Tesla CEO Elon Musk has reiterated that the company’s mission is to make electric cars affordable and has blamed vehicle price increases on a shortage of chips and raw materials. Tesla is coping with the chip shortage by using alternative chips and rewriting software, Musk said. He provided a cautious outlook for chip shortage. ”It does seem like it’s getting better,” he said on the second-quarter earnings call, but added: ”it’s hard to predict.”

Tesla hikes electric car prices in the US; holds a line in China

Even before making its India entry, Tesla is making noises to attract attention, a trait Tesla’s boss Elon Musk is known for.&nbsp;

Seeking a cut in import duty on its highly expensive electric cars, Tesla has once again ignited a debate on the import duty on cars.&nbsp;

However, this time the debate is limited to electric cars and the auto industry in India is divided over Tesla's demand.&nbsp;

In response to an Indian's request to launch electric cars, Tesla's high profile boss Elon Musk tweeted "We want to do so, but import duties are highest in the world by far of any large country! Moreover, clean energy vehicles are treated the same as diesel or petrol, which does not seem entirely consistent with the climate goals of India".&nbsp;

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We want to do so, but import duties are the highest in the world by far of any large country! 
 
Moreover, clean energy vehicles are treated the same as diesel or petrol, which does not seem entirely consistent with the climate goals of India.
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1418641920595791872?ref_src=twsrc%5Etfw">July 23, 2021</a></blockquote>
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By doing so Musk is lobbying hard for low duty on the import of electric cars. Hyundai India boss MD S S Kim has also backed Elon Musk’s call to lower the duties as it will help grow the EV market.&nbsp;

However, the founder of India's Ola, Bhavish Aggarwal was quick to dismiss these demands. Expressing his views, Bhavish tweeted “Strongly disagree with both. Let’s have confidence in our ability to build indigenously and attract global OEMs to build in India, not just import. We won’t be the first country to do so!"&nbsp;

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Strongly disagree with both. Let’s have confidence in our ability to build indigenously and also attract global OEMs to build in India, not just import. We won’t be the first country to do so! <a href="https://t.co/n6k7ShYeJX">https://t.co/n6k7ShYeJX</a>
— Bhavish Aggarwal (@bhash) <a href="https://twitter.com/bhash/status/1419945635130736644?ref_src=twsrc%5Etfw">July 27, 2021</a></blockquote>
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By opposing Tesla and Hyundai's demands on cutting down on import duties, Ola is championing the cause of India's 'Make in India' scheme.&nbsp;

Ola has recently ventured into the electric mobility space. It is setting up India's largest electric vehicle facility spread over 500-acre in Tamil Nadu's Krishnagiri. Here it is planning to make 10 million vehicles annually something which is music to the ears of the present government.&nbsp;

Ola also recently opened bookings of its e-scooter at Rs 499, garnering over 1 lakh bookings in advance.

Tesla, on the other side, has been talking about its intention to Indian market for years but it is only in the recent past some serious activity on its entry is visible as the U.S based EV maker has registered its offices, hired few top employees and even vehicles have been imported for homologation.&nbsp;

Still, sometimes it feels like Tesla is looking for something more as even the high-end luxury car market is still very small in India. It is in this market and to the prospective owners of Mercs, BMWs and Audis, Tesla would like to sell its ultra-expensive cars.&nbsp;

But other luxury car players are also not sitting silent. India has recently seen a flurry of launches in electric vehicle space, for those who can afford these electric luxury SUVs costing upwards of Rs 10 mn or $134,000. Last week Audi launched the e-tron in India at a starting price of Rs 99.99 lakh (ex-showroom) along with its entire SUV range including the e-Tron 50, the e-tron 55 and the e-tron Sportback 55. Much before that Mercedes-Benz launched its luxury electric SUV EQC and Jaguar launched its i-Pace in the same price bracket.&nbsp;

Government as expected is also not in a mood to give sops to import of hi-end electric cars, they don't get anything from it. The Indian government has indicated it is interested in giving concessions only if Tesla starts manufacturing cars.&nbsp;

Also, for an electric car market contributing to just around 5,000 units including affordable e-hatchbacks out of around 3 million cars sold annually in India, the sops don't make sense at all.&nbsp;

Sops or concessions if any should be given to e-scooters or those at the bottom of this e-pyramid and not those at the highest level of the vehicle market unless they are ready to invest first to create jobs and facilities. 
 
(Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

Even before making its India entry, Tesla is making noises to attract attention, a trait Tesla’s boss Elon Musk is known for. Seeking a cut in import duty on its highly expensive electric cars, Tesla has once again ignited a debate on the import duty on cars.

Even before making its India entry, Tesla is making noises to attract attention, a trait Tesla’s boss Elon Musk is known for. Seeking a cut in import duty on its highly expensive electric cars, Tesla has once again ignited a debate on the import duty on cars. However, this time the debate is limited to electric cars and the auto industry in India is divided over Tesla's demand. In response to an Indian's request to launch electric cars, Tesla's high profile boss Elon Musk tweeted "We want to do so, but import duties are highest in the world by far of any large country! Moreover, clean energy vehicles are treated the same as diesel or petrol, which does not seem entirely consistent with the climate goals of India". We want to do so, but import duties are the highest in the world by far of any large country! Moreover, clean energy vehicles are treated the same as diesel or petrol, which does not seem entirely consistent with the climate goals of India. — Elon Musk (@elonmusk) July 23, 2021 × By doing so Musk is lobbying hard for low duty on the import of electric cars. Hyundai India boss MD S S Kim has also backed Elon Musk’s call to lower the duties as it will help grow the EV market. However, the founder of India's Ola, Bhavish Aggarwal was quick to dismiss these demands. Expressing his views, Bhavish tweeted “Strongly disagree with both. Let’s have confidence in our ability to build indigenously and attract global OEMs to build in India, not just import. We won’t be the first country to do so!" Strongly disagree with both. Let’s have confidence in our ability to build indigenously and also attract global OEMs to build in India, not just import. We won’t be the first country to do so! https://t.co/n6k7ShYeJX — Bhavish Aggarwal (@bhash) July 27, 2021 × By opposing Tesla and Hyundai's demands on cutting down on import duties, Ola is championing the cause of India's 'Make in India' scheme. Ola has recently ventured into the electric mobility space. It is setting up India's largest electric vehicle facility spread over 500-acre in Tamil Nadu's Krishnagiri. Here it is planning to make 10 million vehicles annually something which is music to the ears of the present government. Ola also recently opened bookings of its e-scooter at Rs 499, garnering over 1 lakh bookings in advance. Tesla, on the other side, has been talking about its intention to Indian market for years but it is only in the recent past some serious activity on its entry is visible as the U.S based EV maker has registered its offices, hired few top employees and even vehicles have been imported for homologation. Still, sometimes it feels like Tesla is looking for something more as even the high-end luxury car market is still very small in India. It is in this market and to the prospective owners of Mercs, BMWs and Audis, Tesla would like to sell its ultra-expensive cars. But other luxury car players are also not sitting silent. India has recently seen a flurry of launches in electric vehicle space, for those who can afford these electric luxury SUVs costing upwards of Rs 10 mn or $134,000. Last week Audi launched the e-tron in India at a starting price of Rs 99.99 lakh (ex-showroom) along with its entire SUV range including the e-Tron 50, the e-tron 55 and the e-tron Sportback 55. Much before that Mercedes-Benz launched its luxury electric SUV EQC and Jaguar launched its i-Pace in the same price bracket. Government as expected is also not in a mood to give sops to import of hi-end electric cars, they don't get anything from it. The Indian government has indicated it is interested in giving concessions only if Tesla starts manufacturing cars. Also, for an electric car market contributing to just around 5,000 units including affordable e-hatchbacks out of around 3 million cars sold annually in India, the sops don't make sense at all. Sops or concessions if any should be given to e-scooters or those at the bottom of this e-pyramid and not those at the highest level of the vehicle market unless they are ready to invest first to create jobs and facilities. (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

WINGS & WHEELS | A divided house over Tesla's clarion call on import duties

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