Tech billionaires' different views on COVID-19 lockdown. Facebook CEO Mark Zuckerberg praises the lockdown, meanwhile Tesla CEO Elon Musk sees 'facism' in lockdown.

Tech billionaires' different views on COVID-19 lockdown

Cancelling Tokyo Olympics 'inconceivable': Japan minister

Postponing or cancelling the Tokyo Olympics is "inconceivable", Japan's Olympic minister said as the new coronavirus outbreak raises fears the event could be scrapped.<a href="https://www.wionews.com/sports/cancelling-tokyo-olympics-inconceivable-japan-minister-285590"> Read More</a>

COVID-19: Thailand restricts visitor visas to limit virus spread

Thailand will temporarily suspend issuing visas on arrival to visitors from 19 countries and territories, including China, to contain the spread of the coronavirus, its interior minister said on Wednesday. <a href="https://www.wionews.com/world/covid-19-thailand-restricts-visitor-visas-to-limit-virus-spread-285602">Read More</a>

'No difference between what the Nazis did': Turkey President Erdogan hits out at Greece

"We will not just retaliate (against) even the smallest attack here (in Idlib), we will give a much harsher response," the Turkey president told lawmakers in Parliament, adding, "Turkish soldiers, the sons of this nation, are never in need of the cruel Assad's protection, so let that be known." <a href="https://www.wionews.com/world/no-difference-between-what-the-nazis-did-turkey-president-erdogan-hits-out-at-greece-285620">Read More</a>

People don't need college degree to work at Tesla: Elon Musk

A college degree is still not a necessity to work in Tesla according to its CEO, Elon Musk. He had previously said the same statement in his 2014 interview with the German automotive publication Auto Bild.<a href="https://www.wionews.com/world/people-dont-need-college-degree-to-work-at-tesla-elon-musk-285611"> Read More</a>

Second person declared cured of HIV, with no trace of infection in 30 months

Adam Castillejo — the now 40-year-old "London Patient" — was first diagnosed with HIV in 2003, according to The New York Times. He had stopped undergoing anti-retroviral therapy more than 30 months ago and revealed his identity on Monday (March 9). <a href="https://www.wionews.com/world/second-person-declared-cured-of-hiv-with-no-trace-of-infection-in-30-months-285609">Read More</a>

Turkey urges Russia to address Syria truce violations

Turkey urged Russia on Wednesday to deal with alleged violations of a week-old ceasefire by Syrian government forces in Idlib, the last bastion of resistance to President Bashar al-Assad. <a href="https://www.wionews.com/world/turkey-urges-russia-to-address-syria-truce-violations-285597">Read More</a>

Malaysian PM calls on Mahathir to endorse new government

Malaysia's new prime minister, Muhyiddin Yassin, extended an olive branch on Wednesday to the leader he recently replaced, veteran politician Mahathir Mohamad, calling on him to endorse the new government after weeks of political tension. <a href="https://www.wionews.com/world/malaysian-pm-calls-on-mahathir-to-endorse-new-government-285594">Read More</a>

Child sex conviction 'wrong', says lawyers of ex- Vatican treasurer Pell

Lawyers for disgraced ex-Vatican treasurer and Cardinal George Pell claimed that he remains behind bars for child sex abuse based on "wrong" and "egregious" legal decisions, as they concluded a last-ditch appeal in Australia's top court. <a href="https://www.wionews.com/world/child-sex-conviction-wrong-says-lawyers-of-ex-vatican-treasurer-pell-285592">Read More</a>

Netanyahu rival Benny Gantz set for official protection after threats

Israeli Prime Minister Benjamin Netanyahu's challenger Benny Gantz is to receive state protection following online threats, a domestic security agency announced on Tuesday. <a href="https://www.wionews.com/world/netanyahu-rival-benny-gantz-set-for-official-protection-after-threats-285589">Read More</a>

PAF's F-16 jet crashes in Islamabad during Pakistan Day parade rehearsals

An F-16 fighter jet belonging to the Pakistan Air Force crashed in Islamabad on Wednesday while carrying out rehearsals for the country's Republic Day parade to be held on March 23.<a href="https://www.wionews.com/south-asia/pafs-f-16-jet-crashes-in-islamabad-during-pakistan-day-parade-rehearsals-285562"> Read More</a>

Cancelling Tokyo Olympics 'inconceivable': Japan minister Postponing or cancelling the Tokyo Olympics is "inconceivable", Japan's Olympic minister said as the new coronavirus outbreak raises fears the event could be scrapped.

Cancelling Tokyo Olympics 'inconceivable': Japan minister Postponing or cancelling the Tokyo Olympics is "inconceivable", Japan's Olympic minister said as the new coronavirus outbreak raises fears the event could be scrapped. Read More COVID-19: Thailand restricts visitor visas to limit virus spread Thailand will temporarily suspend issuing visas on arrival to visitors from 19 countries and territories, including China, to contain the spread of the coronavirus, its interior minister said on Wednesday. Read More 'No difference between what the Nazis did': Turkey President Erdogan hits out at Greece "We will not just retaliate (against) even the smallest attack here (in Idlib), we will give a much harsher response," the Turkey president told lawmakers in Parliament, adding, "Turkish soldiers, the sons of this nation, are never in need of the cruel Assad's protection, so let that be known." Read More People don't need college degree to work at Tesla: Elon Musk A college degree is still not a necessity to work in Tesla according to its CEO, Elon Musk. He had previously said the same statement in his 2014 interview with the German automotive publication Auto Bild. Read More Second person declared cured of HIV, with no trace of infection in 30 months Adam Castillejo — the now 40-year-old "London Patient" — was first diagnosed with HIV in 2003, according to The New York Times. He had stopped undergoing anti-retroviral therapy more than 30 months ago and revealed his identity on Monday (March 9). Read More Turkey urges Russia to address Syria truce violations Turkey urged Russia on Wednesday to deal with alleged violations of a week-old ceasefire by Syrian government forces in Idlib, the last bastion of resistance to President Bashar al-Assad. Read More Malaysian PM calls on Mahathir to endorse new government Malaysia's new prime minister, Muhyiddin Yassin, extended an olive branch on Wednesday to the leader he recently replaced, veteran politician Mahathir Mohamad, calling on him to endorse the new government after weeks of political tension. Read More Child sex conviction 'wrong', says lawyers of ex- Vatican treasurer Pell Lawyers for disgraced ex-Vatican treasurer and Cardinal George Pell claimed that he remains behind bars for child sex abuse based on "wrong" and "egregious" legal decisions, as they concluded a last-ditch appeal in Australia's top court. Read More Netanyahu rival Benny Gantz set for official protection after threats Israeli Prime Minister Benjamin Netanyahu's challenger Benny Gantz is to receive state protection following online threats, a domestic security agency announced on Tuesday. Read More PAF's F-16 jet crashes in Islamabad during Pakistan Day parade rehearsals An F-16 fighter jet belonging to the Pakistan Air Force crashed in Islamabad on Wednesday while carrying out rehearsals for the country's Republic Day parade to be held on March 23. Read More

Top 10 world news today: Coronavirus cloud on Tokyo Olympics, Pakistan Air Force F-16 jet crashes and more!

A college degree is still not a necessity to work in Tesla according to its CEO, Elon Musk.

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Do you still stand firmly on not requiring college degrees?
— Alec Palm (@youfoundalec) <a href="https://twitter.com/youfoundalec/status/1208840166208499713?ref_src=twsrc%5Etfw">December 22, 2019</a></blockquote>
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He had previously said the same statement in his 2014 interview with the German automotive publication Auto Bild.

Also read: <a href="https://www.wionews.com/entertainment/singer-grimes-reveals-shes-pregnant-with-elon-musks-child-284828">Singer Grimes reveals she's pregnant with Elon Musk's child</a>

After being asked whether he considered college a job applicant attended when evaluating a potential Tesla employee, Musk said that ''there's no need to even have a college degree at all or even high school''.

''If somebody graduated from a great university, that may be an indication that they will be capable of great things but that may not necessarily be the case''.

Also read: <a href="https://www.wionews.com/world/the-coronavirus-panic-is-dumb-tweets-elon-musk-as-toll-surges-worldwide-285227">'The coronavirus panic is dumb', tweets Elon Musk as toll surges worldwide</a>

''If you look at Bill Gates, Steve Jobs or Larry Ellison, they did not graduate from college but if someone had a chance to hire them, of they will,'' he added.

Musk prefers ''evidence of exceptional ability'' in a potential employee rather than a prestigious college degree.

According to him, ''if there is a track record of exceptional achievement, then it's likely that will continue into the future''.

While interviewing his potential employees, he asks them to give him a summary of their career and describe how they solved some of the most difficult problems they've faced.

To ensure that the interviewee is not taking credits of someone else's work, Musk asks them detailed questions about the problem they describe.

A college degree is still not a necessity to work in Tesla according to its CEO, Elon Musk. Do you still stand firmly on not requiring college degrees? — Alec Palm (@youfoundalec) December 22, 2019 × He had previously said the same statement in his 2014 interview with the German automotive publication Auto Bild.

A college degree is still not a necessity to work in Tesla according to its CEO, Elon Musk. Do you still stand firmly on not requiring college degrees? — Alec Palm (@youfoundalec) December 22, 2019 × He had previously said the same statement in his 2014 interview with the German automotive publication Auto Bild. Also read: Singer Grimes reveals she's pregnant with Elon Musk's child After being asked whether he considered college a job applicant attended when evaluating a potential Tesla employee, Musk said that ''there's no need to even have a college degree at all or even high school''. ''If somebody graduated from a great university, that may be an indication that they will be capable of great things but that may not necessarily be the case''. Also read: 'The coronavirus panic is dumb', tweets Elon Musk as toll surges worldwide ''If you look at Bill Gates, Steve Jobs or Larry Ellison, they did not graduate from college but if someone had a chance to hire them, of they will,'' he added. Musk prefers ''evidence of exceptional ability'' in a potential employee rather than a prestigious college degree. According to him, ''if there is a track record of exceptional achievement, then it's likely that will continue into the future''. While interviewing his potential employees, he asks them to give him a summary of their career and describe how they solved some of the most difficult problems they've faced. To ensure that the interviewee is not taking credits of someone else's work, Musk asks them detailed questions about the problem they describe.

People don't need college degree to work at Tesla: Elon Musk

SpaceX and Tesla CEO Elon Musk reportedly brought shares of Tesla Inc worth as much as $10 million on February 14.

As per a filing with the US Securities and Exchange Commission, Musk's purchase of Tesla shared raised his holding to around 18 per cent, roughly 34 million.

The shares were purchased roughly at an average of $767 each.&nbsp;On Wednesday, Tesla's shared closed at a record high of $917.42.&nbsp;

Also read: <a href="https://www.wionews.com/world/elon-musk-calls-facebook-lame-and-urges-people-to-delete-it-279969">Elon Musk calls Facebook 'lame' and urges people to 'delete' it</a>

Last Thursday, Tesla Inc announced plans to raise $2 billion in a stock offering as the electric-car maker taps into an astronomical jump in its share price in the past few months.

Chief Executive Officer Elon Musk has repeatedly assured investors that the company will not need to raise more money. As recently as last month, Musk said, "It doesn't make sense to raise money. Diluting the company to pay down debt doesn't sound like a wise move."

Also read: <a href="https://www.wionews.com/entertainment/elon-musk-just-dropped-his-edm-track-dont-doubt-ur-vibe-278151">Elon Musk just dropped his EDM track 'Don't Doubt Ur Vibe'&nbsp;</a>

The company said it would offer 2.65 million shares, of which Musk himself will buy up to $10 million in shares. Board member and Oracle co-founder Larry Ellison will purchase $1 million Tesla shares, news agency Reuters reported.&nbsp;

SpaceX and Tesla CEO Elon Musk reportedly brought shares of Tesla Inc worth as much as $10 million on February 14. As per a filing with the US Securities and Exchange Commission, Musk's purchase of Tesla shared raised his holding to around 18 per cent, roughly 34 million.

SpaceX and Tesla CEO Elon Musk reportedly brought shares of Tesla Inc worth as much as $10 million on February 14. As per a filing with the US Securities and Exchange Commission, Musk's purchase of Tesla shared raised his holding to around 18 per cent, roughly 34 million. The shares were purchased roughly at an average of $767 each. On Wednesday, Tesla's shared closed at a record high of $917.42. Also read: Elon Musk calls Facebook 'lame' and urges people to 'delete' it Last Thursday, Tesla Inc announced plans to raise $2 billion in a stock offering as the electric-car maker taps into an astronomical jump in its share price in the past few months. Chief Executive Officer Elon Musk has repeatedly assured investors that the company will not need to raise more money. As recently as last month, Musk said, "It doesn't make sense to raise money. Diluting the company to pay down debt doesn't sound like a wise move." Also read: Elon Musk just dropped his EDM track 'Don't Doubt Ur Vibe' The company said it would offer 2.65 million shares, of which Musk himself will buy up to $10 million in shares. Board member and Oracle co-founder Larry Ellison will purchase $1 million Tesla shares, news agency Reuters reported.

On Valentine's day, Musk brought $10 million of Tesla shares

Singapore aims to phase out petrol and diesel vehicles by 2040, making a bigger bet on electric cars as part of its efforts to cut greenhouse gases and fight climate change, the finance minister said on Tuesday.

The wealthy city-state of 5.7 million, which is hiking investment in flood defences, joins Norway, Britain and others in setting a target to cut the use of vehicles with combustion engines.

Also read:&nbsp;<a href="https://www.wionews.com/world/uk-wants-petrol-diesel-vehicles-out-by-2035-proposes-switching-to-hybrid-vehicles-278805">UK wants petrol &amp; diesel vehicles out by 2035, proposes switching to hybrid vehicles</a>

"Our vision is to phase out ICE (internal combustion engine) vehicles and have all vehicles run on cleaner energy by 2040," Finance Minister Heng Swee Keat said in his budget speech.

<a href="https://www.wionews.com/videos/chinese-aerobatic-team-amazes-spectators-at-singapore-airshow-280354">Singapore</a>, which has been criticised by <a href="https://www.wionews.com/science-tech/musk-hands-over-first-tesla-model-3-electric-cars-to-early-buyers-18373">Tesla </a>CEO <a href="https://www.wionews.com/science-tech/musk-hands-over-first-tesla-model-3-electric-cars-to-early-buyers-18373">Elon Musk</a> as not being supportive of electric vehicles, is one of the most expensive places in the world to buy a car and there are few electric vehicles on the roads.

Also read:&nbsp;<a href="https://www.wionews.com/science-tech/musk-hands-over-first-tesla-model-3-electric-cars-to-early-buyers-18373">Musk hands over first Tesla Model 3 electric cars to early buyers</a>

In Tuesday's budget, Heng said measures to encourage electric vehicle adoption included a registration fee rebate on purchases of fully electric car and taxis.

The country, an oil-refining hub, will also expand public charging infrastructure to 28,000 points by 2030 from 1,600 now.

"As a low-lying island nation, rising sea levels threatens our very existence," Heng said, adding that he was setting aside a coastal and flood protection fund with an initial injection of S$5 billion.

Last year, the Finance&nbsp;Minister said protecting Singapore against rising sea levels could cost S$100 billion or more over 100 years.

Singapore aims to phase out petrol and diesel vehicles by 2040, making a bigger bet on electric cars as part of its efforts to cut greenhouse gases and fight climate change, the finance minister said on Tuesday.

Singapore aims to phase out petrol and diesel vehicles by 2040, making a bigger bet on electric cars as part of its efforts to cut greenhouse gases and fight climate change, the finance minister said on Tuesday. The wealthy city-state of 5.7 million, which is hiking investment in flood defences, joins Norway, Britain and others in setting a target to cut the use of vehicles with combustion engines. Also read: UK wants petrol & diesel vehicles out by 2035, proposes switching to hybrid vehicles "Our vision is to phase out ICE (internal combustion engine) vehicles and have all vehicles run on cleaner energy by 2040," Finance Minister Heng Swee Keat said in his budget speech. Singapore, which has been criticised by Tesla CEO Elon Musk as not being supportive of electric vehicles, is one of the most expensive places in the world to buy a car and there are few electric vehicles on the roads. Also read: Musk hands over first Tesla Model 3 electric cars to early buyers In Tuesday's budget, Heng said measures to encourage electric vehicle adoption included a registration fee rebate on purchases of fully electric car and taxis. The country, an oil-refining hub, will also expand public charging infrastructure to 28,000 points by 2030 from 1,600 now. "As a low-lying island nation, rising sea levels threatens our very existence," Heng said, adding that he was setting aside a coastal and flood protection fund with an initial injection of S$5 billion. Last year, the Finance Minister said protecting Singapore against rising sea levels could cost S$100 billion or more over 100 years.

Singapore aims to phase out petrol and diesel vehicles by 2040

<a href="https://www.wionews.com/india-news/rebalancing-needed-as-both-western-northern-fronts-require-equal-attention-says-army-chief-273613">China</a>&nbsp;will not make&nbsp;significant&nbsp;cuts to&nbsp;subsidies&nbsp;for&nbsp;new&nbsp;energy&nbsp;vehicles (NEV) this year, signalling that its policy will remain relatively stable, state media quoted the country's industry ministry as saying on Saturday.

Earlier, Miao Wei, China's minister for industry and information technology (MIIT), told a forum that the country would not cut subsidies for new energy vehicles (NEV) again in July, an approach which was cheered by vehicle makers.

The government-backed Beijing&nbsp;News said an MIIT representative, in response to Miao's statement, said that "this year's NEV subsidy policy will remain relatively stable and there will not be&nbsp;significant&nbsp;cuts".

<a href="https://www.wionews.com/world/tsai-sweeping-taiwan-elections-with-half-eligible-votes-counted-report-273630">Beijing</a> has been slowly rolling back a generous 5-year subsidy programme for NEVs, which began in 2016, saying it plans to phase out&nbsp;subsidies&nbsp;after&nbsp;2020, amid criticism that some firms have become overly reliant on the funds.

China's monthly NEV sales dropped for the first time in two years in July as the subsidy&nbsp;cuts reached a&nbsp;new&nbsp;level, and have continued falling since.

"There was a subsidy&nbsp;cut&nbsp;on July 1 last year and everyone has been concerned about whether we will see more&nbsp;cuts this year," Miao told the EV100 annual gathering of senior auto industry executives in Beijing.

"Today I can tell everyone, we will not&nbsp;cut&nbsp;it in July this year."

Miao's speech was the "best&nbsp;news", He Xiaopeng, chief executive of EV startup XPeng Motors, told reporters, adding that policy stability was crucial to the industry.

Miao also said NEV sales hit 163,000 units in December and full-year sales stood at 1.2 million NEVs, a drop from 1.3 million in 2018.

The&nbsp;<a href="https://www.wionews.com/world/china-auto-sales-fall-69-in-august-14th-month-of-decline-248990">China&nbsp;Association of Automobile Manufacturers</a> will announce 2019 full-year sales figures on Monday. Last month, it said that NEV sales from January to November hit 1.04 million.

Automakers who stand to benefit include <a href="https://www.wionews.com/business-economy/stripteasing-musk-launches-tesla-suv-programme-at-new-china-factory-272725">Tesla</a>, which started making deliveries from its $2-billion Shanghai plant this month and secured NEV&nbsp;subsidies&nbsp;in December, Warren Buffett-backed Chinese electric car maker BYD as well as aspiring Tesla-challenger Nio Inc.

China will not make significant cuts to subsidies for new energy vehicles (NEV) this year, signalling that its policy will remain relatively stable, state media quoted the country's industry ministry as saying on Saturday.

China will not make significant cuts to subsidies for new energy vehicles (NEV) this year, signalling that its policy will remain relatively stable, state media quoted the country's industry ministry as saying on Saturday. Earlier, Miao Wei, China's minister for industry and information technology (MIIT), told a forum that the country would not cut subsidies for new energy vehicles (NEV) again in July, an approach which was cheered by vehicle makers. The government-backed Beijing News said an MIIT representative, in response to Miao's statement, said that "this year's NEV subsidy policy will remain relatively stable and there will not be significant cuts". Beijing has been slowly rolling back a generous 5-year subsidy programme for NEVs, which began in 2016, saying it plans to phase out subsidies after 2020, amid criticism that some firms have become overly reliant on the funds. China's monthly NEV sales dropped for the first time in two years in July as the subsidy cuts reached a new level, and have continued falling since. "There was a subsidy cut on July 1 last year and everyone has been concerned about whether we will see more cuts this year," Miao told the EV100 annual gathering of senior auto industry executives in Beijing. "Today I can tell everyone, we will not cut it in July this year." Miao's speech was the "best news", He Xiaopeng, chief executive of EV startup XPeng Motors, told reporters, adding that policy stability was crucial to the industry. Miao also said NEV sales hit 163,000 units in December and full-year sales stood at 1.2 million NEVs, a drop from 1.3 million in 2018. The China Association of Automobile Manufacturers will announce 2019 full-year sales figures on Monday. Last month, it said that NEV sales from January to November hit 1.04 million. Automakers who stand to benefit include Tesla, which started making deliveries from its $2-billion Shanghai plant this month and secured NEV subsidies in December, Warren Buffett-backed Chinese electric car maker BYD as well as aspiring Tesla-challenger Nio Inc.

China's Miao Wei: No significant cut in 'New Energy Vehicle' subsidies in 2020

Elon Musk danced at the launch of Tesla's Model Y electric sports utility vehicle program on January 7. In a tweet, he labelled the video "NSFW" - not safe for work.

Watch: Elon Musk's NSFW dance moves at launch of Tesla's Model Y

<a href="https://www.wionews.com/world/tesla-delivers-first-batch-of-china-made-cars-271122">Elon Musk</a> showed off striptease moves at the launch of Tesla's&nbsp;Model Y electric sports utility vehicle programme at its new Shanghai factory on Tuesday, where the company delivered its first cars built outside the United States to the public.

The $2 billion <a href="https://www.wionews.com/business-economy/rivals-gear-up-for-2020-after-teslas-model-3-sedan-hits-record-year-in-norway-271896">Tesla Inc</a> factory started delivering cars in just 357 days, a record for global automakers in China. The first 10 customers from the public received their China-made <a href="https://www.wionews.com/world/tesla-says-will-start-delivering-china-made-model-3s-to-public-on-january-7-271722">Model 3 sedans</a> on Tuesday.

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At Tesla Giga Shanghai NSFW!! <a href="https://t.co/1yrPyzJQGZ">pic.twitter.com/1yrPyzJQGZ</a>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1214483582363693057?ref_src=twsrc%5Etfw">January 7, 2020</a></blockquote>
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Billionaire CEO Musk danced enthusiastically on stage at the event, then stripped off his jacket and flung it aside to reveal a T-shirt with a cartoon of the factory. In a tweet, he labelled the video "NSFW" - not safe for work.

He predicted that "ultimately Tesla Model Y will have more demand than probably all the other cars of Tesla combined", with his voice cracking with emotion at times while talking about the progress of the Shanghai factory.

<img alt="Tesla Inc CEO Elon Musk dances onstage during a delivery event" data-entity-type="file" data-entity-uuid="c97caf56-b0d0-407e-b077-89fd4f0ab29e" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%288%29_7.jpg" /> 
[Tesla Inc CEO Elon Musk dances onstage during a delivery event (Courtesy: Reuters)]

The ceremony was attended by Shanghai Mayor Ying Yong and other senior government officials.

Tesla executives, however, did not provide further details on the progress of the China-made Model Y project. A <a href="https://www.wionews.com/world/tesla-delivers-first-batch-of-china-made-cars-271122">Tesla</a> representative declined to comment further.

Tesla's shares are trading close to their record high after it beat Wall Street estimates for vehicle deliveries in its fourth quarter. News of production ramp-up in its China factory and upbeat early deposits for its recently launched pickup truck have also supported its share price.

<img alt="Tesla Model 3 vehicles are seen during a delivery event at its factory in Shanghai" data-entity-type="file" data-entity-uuid="8a257650-0a94-478e-b6a0-028c2f3645f6" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%289%29_11.jpg" /> 
[Tesla Model 3 vehicles are seen during a delivery event at its factory in Shanghai (Courtesy: Reuters)]

Construction of Tesla's first plant outside the United States began in January and production started in October.

The factory started with a production capacity of 150,000 <a href="https://www.wionews.com/business-economy/tesla-to-take-new-14-billion-loan-from-chinese-banks-for-shanghai-factory-sources-269723">Model 3 sedans</a> and Tesla aims to push that to 250,000 vehicles a year, including Model Y, in the plant's first phase.

Tesla unveiled its Model Y in March 2019 and said in October that production of the electric compact SUV at its Fremont facility was running ahead of schedule, adding at the time that it expects to launch the model by summer 2020.

<img alt="A Tesla Model 3 car owner sitting inside a car" data-entity-type="file" data-entity-uuid="b3a903dc-3ca8-4def-aa8d-60ed9ca001bc" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%287%29_10.jpg" /> 
[A Tesla Model 3 car owner sitting inside a car (Courtesy: Reuters)]

It has said that margin expectations are higher for Model Y than Model 3, while production costs are roughly the same.

Tesla's China website estimates the starting price for Model Y vehicles at 444,000 yuan ($63,911.56). It will announce the retail price later, the website says. The China-made Model 3 sedans are priced at 355,800 yuan before subsidies.

Shanghai Vice Mayor Wu Qing said he hoped to see Tesla extend its cooperation with the city and for the car maker to manufacture more models at its Chinese plant.

Elon Musk showed off striptease moves at the launch of Tesla's Model Y electric sports utility vehicle programme at its new Shanghai factory on Tuesday, where the company delivered its first cars built outside the United States to the public.

Elon Musk showed off striptease moves at the launch of Tesla's Model Y electric sports utility vehicle programme at its new Shanghai factory on Tuesday, where the company delivered its first cars built outside the United States to the public. The $2 billion Tesla Inc factory started delivering cars in just 357 days, a record for global automakers in China. The first 10 customers from the public received their China-made Model 3 sedans on Tuesday. At Tesla Giga Shanghai NSFW!! pic.twitter.com/1yrPyzJQGZ — Elon Musk (@elonmusk) January 7, 2020 × Billionaire CEO Musk danced enthusiastically on stage at the event, then stripped off his jacket and flung it aside to reveal a T-shirt with a cartoon of the factory. In a tweet, he labelled the video "NSFW" - not safe for work. He predicted that "ultimately Tesla Model Y will have more demand than probably all the other cars of Tesla combined", with his voice cracking with emotion at times while talking about the progress of the Shanghai factory. [Tesla Inc CEO Elon Musk dances onstage during a delivery event (Courtesy: Reuters)] The ceremony was attended by Shanghai Mayor Ying Yong and other senior government officials. Tesla executives, however, did not provide further details on the progress of the China-made Model Y project. A Tesla representative declined to comment further. Tesla's shares are trading close to their record high after it beat Wall Street estimates for vehicle deliveries in its fourth quarter. News of production ramp-up in its China factory and upbeat early deposits for its recently launched pickup truck have also supported its share price. [Tesla Model 3 vehicles are seen during a delivery event at its factory in Shanghai (Courtesy: Reuters)] Construction of Tesla's first plant outside the United States began in January and production started in October. The factory started with a production capacity of 150,000 Model 3 sedans and Tesla aims to push that to 250,000 vehicles a year, including Model Y, in the plant's first phase. Tesla unveiled its Model Y in March 2019 and said in October that production of the electric compact SUV at its Fremont facility was running ahead of schedule, adding at the time that it expects to launch the model by summer 2020. [A Tesla Model 3 car owner sitting inside a car (Courtesy: Reuters)] It has said that margin expectations are higher for Model Y than Model 3, while production costs are roughly the same. Tesla's China website estimates the starting price for Model Y vehicles at 444,000 yuan ($63,911.56). It will announce the retail price later, the website says. The China-made Model 3 sedans are priced at 355,800 yuan before subsidies. Shanghai Vice Mayor Wu Qing said he hoped to see Tesla extend its cooperation with the city and for the car maker to manufacture more models at its Chinese plant.

Elon Musk launches new Tesla SUV programme at Shanghai factory

The sale of new electric cars in <a href="https://www.wionews.com/business-economy/dollar-snaps-six-day-losing-streak-a-flat-start-for-2020-271653">Norway</a> rose by 30.9 per cent&nbsp;last year amid soaring demand for <a href="https://www.wionews.com/world/study-finds-google-system-could-improve-breast-cancer-detection-271720">Tesla Inc's</a> vehicles, but the pioneering US&nbsp;firm faces rising competition from rival automakers in 2020.

Fully electric cars made up 42.4 per cent&nbsp;of sales in the Nordic nation last year, a global record, rising from a 31.2 per cent&nbsp;market share in 2018 and just 5.5 per cent&nbsp;in 2013, the Norwegian Road Federation said on Friday.

Seeking to become the first country to end the sale of fossil-fueled cars by 2025, Norway exempts battery-powered vehicles from the taxes imposed on petrol and diesel engines.

This year, as many as six in 10 of all new cars sold in the country could be fully electric, said <a href="https://www.wionews.com/business-economy/volkswagens-german-plants-need-to-shape-up-production-chief-266997">Volkswagen</a> (VW) distributor Harald A. Moeller AS, which is preparing to launch several models in 2020.&nbsp;

"The electrification of the car market is accelerating,&nbsp;we forecast electric vehicles to hold a 100 per cent&nbsp;market share in 2025," the importer said of the outlook for Norway.

The country's best-selling car in 2019 was Tesla's mid-sized <a href="https://www.wionews.com/world/tesla-says-will-start-delivering-china-made-model-3s-to-public-on-january-7-271722">Model 3 sedan</a>, which retails from 384,900 Norwegian crowns ($43,721.74), racking up an 11 per cent&nbsp;market share in the California-based firm's first attempt at addressing the mass market.

The sale of new electric cars in Norway rose by 30.9 per cent last year amid soaring demand for Tesla Inc's vehicles, but the pioneering US firm faces rising competition from rival automakers in 2020.

The sale of new electric cars in Norway rose by 30.9 per cent last year amid soaring demand for Tesla Inc's vehicles, but the pioneering US firm faces rising competition from rival automakers in 2020. Fully electric cars made up 42.4 per cent of sales in the Nordic nation last year, a global record, rising from a 31.2 per cent market share in 2018 and just 5.5 per cent in 2013, the Norwegian Road Federation said on Friday. Seeking to become the first country to end the sale of fossil-fueled cars by 2025, Norway exempts battery-powered vehicles from the taxes imposed on petrol and diesel engines. This year, as many as six in 10 of all new cars sold in the country could be fully electric, said Volkswagen (VW) distributor Harald A. Moeller AS, which is preparing to launch several models in 2020. "The electrification of the car market is accelerating, we forecast electric vehicles to hold a 100 per cent market share in 2025," the importer said of the outlook for Norway. The country's best-selling car in 2019 was Tesla's mid-sized Model 3 sedan, which retails from 384,900 Norwegian crowns ($43,721.74), racking up an 11 per cent market share in the California-based firm's first attempt at addressing the mass market.

Rivals gear up for 2020 after Tesla's Model 3 sedan hits record year in Norway

US&nbsp;electric vehicle maker <a href="https://www.wionews.com/world/tesla-says-will-start-delivering-china-made-model-3s-to-public-on-january-7-271722">Tesla Inc</a> cut the starting price for its China-made Model 3 sedans by 16 per cent&nbsp;to 299,050 yuan ($42,919) after receiving Chinese subsidies for electric vehicles, according to its China website.

The reduction, partly thanks to 24,750 yuan of subsidies, from an earlier 355,800 yuan is among a slew of adjustments Tesla has made to its <a href="https://www.wionews.com/business-economy/tesla-begins-deliveries-of-china-made-model-3-cars-270899">sales</a> policy in China, including tweaking prices for car accessories and home charging facilities.

Tesla has said it plans to start delivering cars, made at its $2 billion factory in Shanghai, to the public on January&nbsp;7.

Fifteen Tesla employees who had purchased the car were the first to take delivery on Monday after the first China-made vehicles rolled off the plant's production line in October. The deliveries come a year after construction of Tesla's only plant outside the United States began.

Earlier this week, Tesla said that 30 per cent&nbsp;of its <a href="https://www.wionews.com/business-economy/tesla-to-take-new-14-billion-loan-from-chinese-banks-for-shanghai-factory-sources-269723">China</a> supply chain was localized, which means some car parts are shipped in to build its cars. The automaker wants to completely localize its China supply chain by end-2020, it said at the time.

Tesla plans to ramp up Model 3 deliveries in January and will double the number of service centres and fast charging stations in China in 2020, its executives have said.

The plant has achieved a production target of 1,000 units per week, or around 280 cars a day, and that sales for the China-made sedan had so far been "very good", according to the executives.

US electric vehicle maker Tesla Inc cut the starting price for its China-made Model 3 sedans by 16 per cent to 299,050 yuan ($42,919) after receiving Chinese subsidies for electric vehicles, according to its China website.

US electric vehicle maker Tesla Inc cut the starting price for its China-made Model 3 sedans by 16 per cent to 299,050 yuan ($42,919) after receiving Chinese subsidies for electric vehicles, according to its China website. The reduction, partly thanks to 24,750 yuan of subsidies, from an earlier 355,800 yuan is among a slew of adjustments Tesla has made to its sales policy in China, including tweaking prices for car accessories and home charging facilities. Tesla has said it plans to start delivering cars, made at its $2 billion factory in Shanghai, to the public on January 7. Fifteen Tesla employees who had purchased the car were the first to take delivery on Monday after the first China-made vehicles rolled off the plant's production line in October. The deliveries come a year after construction of Tesla's only plant outside the United States began. Earlier this week, Tesla said that 30 per cent of its China supply chain was localized, which means some car parts are shipped in to build its cars. The automaker wants to completely localize its China supply chain by end-2020, it said at the time. Tesla plans to ramp up Model 3 deliveries in January and will double the number of service centres and fast charging stations in China in 2020, its executives have said. The plant has achieved a production target of 1,000 units per week, or around 280 cars a day, and that sales for the China-made sedan had so far been "very good", according to the executives.

Tesla reduced price for China made Tesla Model 3 before delivery

Tesla Inc will deliver its first China-made Model 3 sedans to the public on January&nbsp;7 at an event at its Shanghai plant, a representative for the firm told Reuters on Thursday.

The Shanghai plant is part of the Silicon Valley automaker's plans to bolster its presence in the world's biggest auto market and minimize the impact of the US-China trade war.

Fifteen Tesla employees who had purchased the car were the first to take delivery on Monday after the first China-made vehicles rolled off the plant's production line in October.

The deliveries come a year after construction of Tesla's only plant outside the United States began. Production started in October with a target of 250,000 vehicles per year once the Model Y is added to the lineup.

"As Model 3s roll off Tesla's Chinese manufacturing facility with local subsidies intact, we believe the US-based focus will need to shift globally for the company," Canaccord Genuity analyst Jed Dorsheimer wrote in a note to clients.

China will be an important market for the company in 2020, said Dorsheimer, who raised his price target on Tesla to $515, the second-highest on Wall Street.

The Model 3 is priced at 355,800 yuan ($50,000) before subsidies. Tesla said previously that it wanted to start deliveries before the Chinese new year beginning Jan. 25.

Tesla's China general manager, Wang Hao, said the company plans to ramp up Model 3 deliveries in January.

Tesla executives also told reporters the plant had achieved a production target of 1,000 units per week, or around 280 cars a day, and that sales for the China-made sedan had so far been "very good".

Hao had said the company will double the number of service centres and fast-charging stations in China in 2020.

Shares of Tesla, which is expected to report its fourth-quarter delivery numbers in the next few days, rose 1.1% to $422.88 in premarket trading.

The stock, which touched a record high of $435.31 last week, has had a strong run in recent months on the back of posting a rare profit in the latest quarter and news of China ramp up.

Tesla Inc will deliver its first China-made Model 3 sedans to the public on January 7 at an event at its Shanghai plant, a representative for the firm told Reuters on Thursday.

Tesla Inc will deliver its first China-made Model 3 sedans to the public on January 7 at an event at its Shanghai plant, a representative for the firm told Reuters on Thursday. The Shanghai plant is part of the Silicon Valley automaker's plans to bolster its presence in the world's biggest auto market and minimize the impact of the US-China trade war. Fifteen Tesla employees who had purchased the car were the first to take delivery on Monday after the first China-made vehicles rolled off the plant's production line in October. The deliveries come a year after construction of Tesla's only plant outside the United States began. Production started in October with a target of 250,000 vehicles per year once the Model Y is added to the lineup. "As Model 3s roll off Tesla's Chinese manufacturing facility with local subsidies intact, we believe the US-based focus will need to shift globally for the company," Canaccord Genuity analyst Jed Dorsheimer wrote in a note to clients. China will be an important market for the company in 2020, said Dorsheimer, who raised his price target on Tesla to $515, the second-highest on Wall Street. The Model 3 is priced at 355,800 yuan ($50,000) before subsidies. Tesla said previously that it wanted to start deliveries before the Chinese new year beginning Jan. 25. Tesla's China general manager, Wang Hao, said the company plans to ramp up Model 3 deliveries in January. Tesla executives also told reporters the plant had achieved a production target of 1,000 units per week, or around 280 cars a day, and that sales for the China-made sedan had so far been "very good". Hao had said the company will double the number of service centres and fast-charging stations in China in 2020. Shares of Tesla, which is expected to report its fourth-quarter delivery numbers in the next few days, rose 1.1% to $422.88 in premarket trading. The stock, which touched a record high of $435.31 last week, has had a strong run in recent months on the back of posting a rare profit in the latest quarter and news of China ramp up.

Tesla says will start delivering China-made Model 3s to public on January 7

<a href="https://www.wionews.com/business-economy/ford-ready-to-sell-russian-plants-says-companies-have-shown-interest-225433">Ford</a>&nbsp;Motor Co said on Monday&nbsp;reservations&nbsp;were&nbsp;full&nbsp;for the&nbsp;high-end&nbsp;Mustang&nbsp;Mach-E First Edition&nbsp;<a href="https://www.wionews.com/business-economy/tesla-unveils-first-ever-electric-pickup-truck-263785">electric</a>&nbsp;sport utility vehicle.

The No. 2 US&nbsp;automaker unveiled the&nbsp;electric&nbsp;Mustang&nbsp;crossover on November&nbsp;17 and began taking&nbsp;reservations&nbsp;with a refundable deposit of $500.

There are four other&nbsp;versions of the&nbsp;Mach-E in addition to the First Edition.

<img alt="Ford Motor all-new electric Mustang Mach-E vehicle" data-entity-type="file" data-entity-uuid="25afb379-2e4d-48d6-b802-13f85437463a" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2828%29_3.jpg" />

Ford&nbsp;did not provide details on how many&nbsp;reservations&nbsp;it took for the First Edition, which sells for about $60,000, but has said global production in the first 12 months for all&nbsp;versions of the&nbsp;Mach-E is limited to 50,000 vehicles.

The&nbsp;Mach-E has become a&nbsp;high-profile test for a restructuring at&nbsp;Ford&nbsp;that has been marred by profit warnings, costly quality problems and the troubled launch this year of another important vehicle, the&nbsp;Ford&nbsp;Explorer sport-utility.

The&nbsp;Mach-E was unveiled in Los Angeles in November. It will be built in Mexico, the first of more than a dozen all-electric&nbsp;vehicles&nbsp;Ford&nbsp;plans to launch by 2022 with an investment of $11.5 billion (8.7 billion pounds). The&nbsp;Mach-E's design was inspired by the classic 1960s&nbsp;Mustang&nbsp;sports car and is meant to challenge&nbsp;electric&nbsp;carmaker <a href="https://www.wionews.com/business-economy/tesla-begins-deliveries-of-china-made-model-3-cars-270899">Tesla</a> Inc.

More than 80 per cent&nbsp;of US&nbsp;customers are reserving&nbsp;Mach-E with an extended range battery, while about 55 per cent&nbsp;opted for an all-wheel drive,&nbsp;Ford&nbsp;said.

More than 25 per cent&nbsp;of the&nbsp;reservations&nbsp;are from California, with nearly 30 per cent&nbsp;of US&nbsp;customers choosing&nbsp;Mach-E GT, the company said.

Ford Motor Co said on Monday reservations were full for the high-end Mustang Mach-E First Edition electric sport utility vehicle. The No. 2 US automaker unveiled the electric Mustang crossover on November 17 and began taking reservations with a refundable deposit of $500.

Ford Motor Co said on Monday reservations were full for the high-end Mustang Mach-E First Edition electric sport utility vehicle. The No. 2 US automaker unveiled the electric Mustang crossover on November 17 and began taking reservations with a refundable deposit of $500. There are four other versions of the Mach-E in addition to the First Edition. Ford did not provide details on how many reservations it took for the First Edition, which sells for about $60,000, but has said global production in the first 12 months for all versions of the Mach-E is limited to 50,000 vehicles. The Mach-E has become a high-profile test for a restructuring at Ford that has been marred by profit warnings, costly quality problems and the troubled launch this year of another important vehicle, the Ford Explorer sport-utility. The Mach-E was unveiled in Los Angeles in November. It will be built in Mexico, the first of more than a dozen all-electric vehicles Ford plans to launch by 2022 with an investment of $11.5 billion (8.7 billion pounds). The Mach-E's design was inspired by the classic 1960s Mustang sports car and is meant to challenge electric carmaker Tesla Inc. More than 80 per cent of US customers are reserving Mach-E with an extended range battery, while about 55 per cent opted for an all-wheel drive, Ford said. More than 25 per cent of the reservations are from California, with nearly 30 per cent of US customers choosing Mach-E GT, the company said.

Ford says reservations full for high end version of electric Mustang Mach-E

Tesla delivered its first batch of China-made cars on Monday, less than a year after the electric vehicle company broke ground on its first plant outside the United States.

Work began on the firm's multibillion-dollar Shanghai "Gigafactory" in January, allowing the company to skirt trade tensions between China and the US and sell directly to the world's largest "green" vehicle market.

The first cars to roll off the assembly line -- 15 of Tesla's mid-price, mass-market Model 3 design -- were given to employees who had placed advance orders during a ceremony at the plant.

Tesla plans to begin large-scale deliveries of China-made Model 3 sedans next month, said the firm's China general manager Wang Hao.

The company was now producing more than 1,000 cars per week in China and hoped to double the figure next year, manufacturing director Song Gang told Bloomberg News.

Chief executive Elon Musk has said production could rise to 3,000 vehicles per week in the future.&nbsp;

China typically requires foreign automakers to forge joint ventures with domestic firms when establishing manufacturing plants, which means sharing profits and technology with local partners.

But Tesla's China venture is wholly owned by the US company, and Tesla's decision to invest in Shanghai has been rewarded with preferential treatment.

Authorities last week announced the waiver of a 10 per cent purchase tax for locally made Model 3 vehicles, priced at 355,800 yuan ($50,900).

Earlier in December the government also approved a subsidy of up to 25,000 yuan per car.

Tesla delivered its first batch of China-made cars on Monday, less than a year after the electric vehicle company broke ground on its first plant outside the United States.

Tesla delivered its first batch of China-made cars on Monday, less than a year after the electric vehicle company broke ground on its first plant outside the United States. Work began on the firm's multibillion-dollar Shanghai "Gigafactory" in January, allowing the company to skirt trade tensions between China and the US and sell directly to the world's largest "green" vehicle market. The first cars to roll off the assembly line -- 15 of Tesla's mid-price, mass-market Model 3 design -- were given to employees who had placed advance orders during a ceremony at the plant. Tesla plans to begin large-scale deliveries of China-made Model 3 sedans next month, said the firm's China general manager Wang Hao. The company was now producing more than 1,000 cars per week in China and hoped to double the figure next year, manufacturing director Song Gang told Bloomberg News. Chief executive Elon Musk has said production could rise to 3,000 vehicles per week in the future. China typically requires foreign automakers to forge joint ventures with domestic firms when establishing manufacturing plants, which means sharing profits and technology with local partners. But Tesla's China venture is wholly owned by the US company, and Tesla's decision to invest in Shanghai has been rewarded with preferential treatment. Authorities last week announced the waiver of a 10 per cent purchase tax for locally made Model 3 vehicles, priced at 355,800 yuan ($50,900). Earlier in December the government also approved a subsidy of up to 25,000 yuan per car.

Tesla delivers first batch of China-made cars

US&nbsp;electric vehicle maker&nbsp;<a href="https://www.wionews.com/business-economy/tesla-cybertruck-orders-near-150000-just-days-after-chaotic-launch-264195">Tesla&nbsp;Inc</a> on Monday began delivering&nbsp;Model&nbsp;3 vehicles built at its Shanghai factory, marking the occasion with a ceremony during which 15 of its employees received&nbsp;cars&nbsp;they had purchased.

The event means the plant has started delivering&nbsp;cars&nbsp;to customers just 357 days after the factory's construction started, setting a new record for global automakers in&nbsp;China.

The&nbsp;China-made&nbsp;cars&nbsp;are priced at 355,800 yuan ($50,000) before subsidies and&nbsp;<a href="https://www.wionews.com/business-economy/tesla-suffer-mishap-during-launch-of-electric-cybertruck-263848">Tesla</a>&nbsp;had said it wanted to start&nbsp;deliveries&nbsp;before the Lunar New Year beginning on January&nbsp;25.

The Shanghai plant is part of the Silicon Valley automaker's plans to bolster its presence in the world's biggest auto market and minimise the impact of the <a href="https://www.wionews.com/business-economy/oil-topples-from-two-month-high-on-concern-over-us-china-trade-deal-263894">US-China</a>&nbsp;trade war. Previously,&nbsp;Tesla&nbsp;imported all of the&nbsp;cars&nbsp;it sold in&nbsp;China.

"From now onwards&nbsp;China-made&nbsp;Model&nbsp;3 vehicles will start running on&nbsp;China's large streets and small lanes,"&nbsp;Tesla&nbsp;Vice President Tao Lin said at the delivery ceremony, during which&nbsp;Model&nbsp;3s in colours including black, white and blue were handed over to customers.

US electric vehicle maker Tesla Inc on Monday began delivering Model 3 vehicles built at its Shanghai factory, marking the occasion with a ceremony during which 15 of its employees received cars they had purchased.

US electric vehicle maker Tesla Inc on Monday began delivering Model 3 vehicles built at its Shanghai factory, marking the occasion with a ceremony during which 15 of its employees received cars they had purchased. The event means the plant has started delivering cars to customers just 357 days after the factory's construction started, setting a new record for global automakers in China. The China-made cars are priced at 355,800 yuan ($50,000) before subsidies and Tesla had said it wanted to start deliveries before the Lunar New Year beginning on January 25. The Shanghai plant is part of the Silicon Valley automaker's plans to bolster its presence in the world's biggest auto market and minimise the impact of the US-China trade war. Previously, Tesla imported all of the cars it sold in China. "From now onwards China-made Model 3 vehicles will start running on China's large streets and small lanes," Tesla Vice President Tao Lin said at the delivery ceremony, during which Model 3s in colours including black, white and blue were handed over to customers.

Tesla begins deliveries of China-made Model 3 cars

US&nbsp;electric vehicle maker&nbsp;<a href="https://www.wionews.com/business-economy/tesla-suffer-mishap-during-launch-of-electric-cybertruck-263848">Tesla&nbsp;Inc</a> and a group of China&nbsp;banks&nbsp;have agreed a&nbsp;new&nbsp;10&nbsp;billion&nbsp;yuan ($1.4&nbsp;billion), five-year&nbsp;loan&nbsp;facility for the automaker's&nbsp;Shanghai&nbsp;car plant, three sources familiar with the matter said, part of which will be used to roll over an existing&nbsp;loan.

China Construction Bank (CCB), <a href="https://www.wionews.com/business-economy/pakistans-habib-bank-under-us-scanner-in-money-laundering-case-faces-630-million-fine-19609/amp">Agricultural Bank of China</a> (AgBank), Industrial and Commercial Bank of China (ICBC) and&nbsp;Shanghai&nbsp;Pudong Development Bank (SPDB) are among the&nbsp;banks&nbsp;which have agreed to give&nbsp;Tesla&nbsp;the financial support, one source with direct knowledge said.

The&nbsp;Chinese&nbsp;banks&nbsp;earlier this year already offered&nbsp;Tesla&nbsp;a 12-month facility of up to 3.5&nbsp;billion&nbsp;yuan, which is due to be repaid on March 4, 2020, according to a filing the automaker made to the US&nbsp;Securities and Exchange Commission.

That&nbsp;new&nbsp;loan&nbsp;will be partially used to roll over the previous 3.5&nbsp;billion&nbsp;yuan debt, according to the first source. The second source said the rest will be used on the&nbsp;factory&nbsp;and&nbsp;Tesla's China operations.

The&nbsp;new&nbsp;loan's interest rate will be pegged at 90 per cent&nbsp;&nbsp;of China's one-year benchmark interest rate, the same as the 3.5&nbsp;billion&nbsp;yuan&nbsp;loan, the first source said. This is a rate that China&nbsp;banks&nbsp;offer to their best clients.

Tesla, CCB, AgBank, ICBC and SPDB did not immediately respond to Reuters' requests for comment.

Tesla&nbsp;broke ground on the&nbsp;factory&nbsp;in January and has started producing vehicles&nbsp;from&nbsp;its&nbsp;Shanghai&nbsp;plant. It aims to build at least 1,000 Model 3 cars a week by the end of this year.

The&nbsp;factory, which is&nbsp;<a href="https://www.wionews.com/world/tesla-boss-elon-musk-wins-defamation-trial-over-his-pedo-guy-tweet-266759">Tesla</a>'s first car manufacturing site outside the United States, is the centrepiece of its ambitions to boost sales in the world's biggest auto market and avoid higher import tariffs imposed on US-made cars.

The&nbsp;Shanghai&nbsp;government has also thrown its support behind the&nbsp;Tesla&nbsp;project, which would be China's first wholly foreign-owned car plant and a reflection of the government's broader shift to open up its car market.

US electric vehicle maker Tesla Inc and a group of China banks have agreed a new 10 billion yuan ($1.4 billion), five-year loan facility for the automaker's Shanghai car plant, three sources familiar with the matter said, part of which will be used to roll over an existing loan.

US electric vehicle maker Tesla Inc and a group of China banks have agreed a new 10 billion yuan ($1.4 billion), five-year loan facility for the automaker's Shanghai car plant, three sources familiar with the matter said, part of which will be used to roll over an existing loan. China Construction Bank (CCB), Agricultural Bank of China (AgBank), Industrial and Commercial Bank of China (ICBC) and Shanghai Pudong Development Bank (SPDB) are among the banks which have agreed to give Tesla the financial support, one source with direct knowledge said. The Chinese banks earlier this year already offered Tesla a 12-month facility of up to 3.5 billion yuan, which is due to be repaid on March 4, 2020, according to a filing the automaker made to the US Securities and Exchange Commission. That new loan will be partially used to roll over the previous 3.5 billion yuan debt, according to the first source. The second source said the rest will be used on the factory and Tesla's China operations. The new loan's interest rate will be pegged at 90 per cent of China's one-year benchmark interest rate, the same as the 3.5 billion yuan loan, the first source said. This is a rate that China banks offer to their best clients. Tesla, CCB, AgBank, ICBC and SPDB did not immediately respond to Reuters' requests for comment. Tesla broke ground on the factory in January and has started producing vehicles from its Shanghai plant. It aims to build at least 1,000 Model 3 cars a week by the end of this year. The factory, which is Tesla's first car manufacturing site outside the United States, is the centrepiece of its ambitions to boost sales in the world's biggest auto market and avoid higher import tariffs imposed on US-made cars. The Shanghai government has also thrown its support behind the Tesla project, which would be China's first wholly foreign-owned car plant and a reflection of the government's broader shift to open up its car market.

Tesla to take new $1.4 billion loan from Chinese banks for Shanghai factory: Sources

According to German newspaper Bild, <a href="https://www.wionews.com/world/tesla-boss-elon-musk-wins-defamation-trial-over-his-pedo-guy-tweet-266759">Tesla</a> is planning to build 500,000 electric vehicles a year at its new factory situated in the outskirts of Berlin.

Tesla's Chief Executive Elon Musk announced last month that a site in Gruenheide, Brandenburg, had been chosen to build Tesla Model 3 and Model Y vehicles.

Another German newspaper, Frankfurter Allgemeine Zeitung reported that <a href="https://www.wionews.com/business-economy/musk-suggests-tesla-has-200000-orders-for-cybertruck-264354">Tesla</a> will invest up to $4.41 billion in the plant.

The Gigafactory will generate 10,000 jobs. Reportedly, the site of the factory is as large as 420 soccer pitches.

The construction is slated to begin in 2020.&nbsp;

(With inputs from Reuters)

According to German newspaper Bild, Tesla is planning to build 500,000 electric vehicles a year at its new factory situated in the outskirts of Berlin. Tesla's Chief Executive Elon Musk announced last month that a site in Gruenheide, Brandenburg, had been chosen to build Tesla Model 3 and Model Y vehicles.

According to German newspaper Bild, Tesla is planning to build 500,000 electric vehicles a year at its new factory situated in the outskirts of Berlin. Tesla's Chief Executive Elon Musk announced last month that a site in Gruenheide, Brandenburg, had been chosen to build Tesla Model 3 and Model Y vehicles. Another German newspaper, Frankfurter Allgemeine Zeitung reported that Tesla will invest up to $4.41 billion in the plant. The Gigafactory will generate 10,000 jobs. Reportedly, the site of the factory is as large as 420 soccer pitches. The construction is slated to begin in 2020. (With inputs from Reuters)

Tesla's upcoming plant in Germany to produce 500,000 cars a year: Sources

Tesla Inc boss Elon Musk emerged victorious on Friday from a closely watched defamation trial as a federal court jury swiftly rejected the $190 million claim brought against him by a British cave explorer who Musk had branded a "pedo guy" on Twitter.

The unanimous verdict by a panel of five women and three men was returned after roughly 45 minutes of deliberation on the fourth day of Musk's trial. Legal experts believe it was the first major defamation lawsuit brought by a private individual over remarks on Twitter to be decided by a jury.

The outcome was a triumph for Musk, whose mercurial behaviour in a number of instances last year came under close scrutiny from federal regulators and shareholders of Tesla, his Silicon Valley-based electric car manufacturer.

The jury's decision signals a higher legal threshold for challenging potentially libellous Twitter comments, said L. Lin Wood, the high-profile trial lawyer who led the legal team for the plaintiff, Vernon Unsworth.

Watch:&nbsp;Elon Musk wins case over 'Pedo Guy' tweet

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"This verdict puts everyone's reputation at risk," Wood told reporters after the verdict was announced.

Other lawyers specializing in defamation agreed the verdict reflects how the freewheeling nature of social media has altered understandings of what distinguishes libel punishable in court from casual rhetoric and hyperbole protected as free speech.

Musk, 48, who had testified during the first two days of the trial in his own defence and returned to court on Friday to hear closing arguments, exited the courtroom after the verdict and said: "My faith in humanity is restored."

'Take it on the chin'

Outside the courthouse, Unsworth, 64, said he was resigned to his defeat. "I accept the jury's verdict, take it on the chin and get on with my life."

Wood said his client went "toe to toe with a billionaire bully," echoing a phrase from his summation earlier in court, and indicated to reporters that an appeal was doubtful.

"It's not the verdict we wanted. But it's the end of the road and we now close this chapter," Wood said.

He said he nevertheless saw the lawsuit as meaningful in helping erase the stain he said Unsworth's reputation suffered.

During the course of the trial, Musk testified under oath that his use of the term "pedo guy" - slang for paedophile - was never meant to be taken literally, and he apologised to Unsworth for the comment from the witness stand.

The case stems from a public quarrel between Musk and Unsworth, a British diver who lives part-time in Thailand and gained fame for his leading role in coordinating the successful rescue of 12 boys and their soccer coach from a flooded cave in that country in July 2018.

Unsworth had chided Musk in a CNN interview for delivering a mini-submarine, which was never used, to the site of the Tham Luang Nang Non-cave system. Unsworth called Musk's intervention a "PR" stunt and said the high-tech entrepreneur should "stick his submarine where it hurts."

Three tweets

Musk responded two days later on Twitter with three posts that became the basis of the defamation case. The first questioned Unsworth's role in the rescue, while the second said, "Sorry pedo guy, you really did ask for it."

The third tweet, in reply to a follower who asked Musk about the second tweet, said, "Bet ya a signed dollar it's true."

Wood said during his summation that Musk's tweets were akin to a "nuclear bomb" that would overshadow Unsworth's relationships and job prospects for years to come and urged jurors to teach the Tesla chief executive and SpaceX founder a lesson by awarding Unsworth $190 million, including $150 million in punitive damages.

Two days earlier, under questioning on the witness stand, Musk had estimated his net worth at $20 billion.

But the jury was apparently swayed by the arguments put forth by Musk's attorney, Alex Spiro, who said the tweets in question amounted to an off-hand insult in the midst of an argument, which no one could be expected to take seriously.

"In arguments you insult people," he said. "No bomb went off."

The defence also said Unsworth failed to demonstrate any harm from the Twitter comments and even tried to profit from his role in the rescue, which won him plaudits from the Thai and British governments.

US District Judge Stephen Wilson had said the case hinged on whether a reasonable person would take Musk's Twitter statements to mean he was actually calling Unsworth a paedophile.

To win, Unsworth needed to show that Musk was negligent in publishing a falsehood that clearly identified the plaintiff and caused him harm. "Actual malice" on Musk's part, a high standard in defamation cases, did not need to be proven since the judge deemed Unsworth a private individual, not a public figure.

The trial revived discussion of Musk’s erratic behaviour in 2018, when he used Twitter to float a leveraged buyout proposal for Tesla that was scuttled, ultimately paying $20 million to settle a Securities and Exchange Commission complaint.

For most of 2019, Musk, who has nearly 30 million Twitter followers, has largely kept his public comments focused on Tesla’s new models and improved profitability and on the technical progress of his aerospace company, SpaceX.

Tesla Inc boss Elon Musk emerged victorious on Friday from a closely watched defamation trial as a federal court jury swiftly rejected the $190 million claim brought against him by a British cave explorer who Musk had branded a "pedo guy" on Twitter.

Tesla Inc boss Elon Musk emerged victorious on Friday from a closely watched defamation trial as a federal court jury swiftly rejected the $190 million claim brought against him by a British cave explorer who Musk had branded a "pedo guy" on Twitter. The unanimous verdict by a panel of five women and three men was returned after roughly 45 minutes of deliberation on the fourth day of Musk's trial. Legal experts believe it was the first major defamation lawsuit brought by a private individual over remarks on Twitter to be decided by a jury. The outcome was a triumph for Musk, whose mercurial behaviour in a number of instances last year came under close scrutiny from federal regulators and shareholders of Tesla, his Silicon Valley-based electric car manufacturer. The jury's decision signals a higher legal threshold for challenging potentially libellous Twitter comments, said L. Lin Wood, the high-profile trial lawyer who led the legal team for the plaintiff, Vernon Unsworth. Watch: Elon Musk wins case over 'Pedo Guy' tweet × "This verdict puts everyone's reputation at risk," Wood told reporters after the verdict was announced. Other lawyers specializing in defamation agreed the verdict reflects how the freewheeling nature of social media has altered understandings of what distinguishes libel punishable in court from casual rhetoric and hyperbole protected as free speech. Musk, 48, who had testified during the first two days of the trial in his own defence and returned to court on Friday to hear closing arguments, exited the courtroom after the verdict and said: "My faith in humanity is restored." 'Take it on the chin' Outside the courthouse, Unsworth, 64, said he was resigned to his defeat. "I accept the jury's verdict, take it on the chin and get on with my life." Wood said his client went "toe to toe with a billionaire bully," echoing a phrase from his summation earlier in court, and indicated to reporters that an appeal was doubtful. "It's not the verdict we wanted. But it's the end of the road and we now close this chapter," Wood said. He said he nevertheless saw the lawsuit as meaningful in helping erase the stain he said Unsworth's reputation suffered. During the course of the trial, Musk testified under oath that his use of the term "pedo guy" - slang for paedophile - was never meant to be taken literally, and he apologised to Unsworth for the comment from the witness stand. The case stems from a public quarrel between Musk and Unsworth, a British diver who lives part-time in Thailand and gained fame for his leading role in coordinating the successful rescue of 12 boys and their soccer coach from a flooded cave in that country in July 2018. Unsworth had chided Musk in a CNN interview for delivering a mini-submarine, which was never used, to the site of the Tham Luang Nang Non-cave system. Unsworth called Musk's intervention a "PR" stunt and said the high-tech entrepreneur should "stick his submarine where it hurts." Three tweets Musk responded two days later on Twitter with three posts that became the basis of the defamation case. The first questioned Unsworth's role in the rescue, while the second said, "Sorry pedo guy, you really did ask for it." The third tweet, in reply to a follower who asked Musk about the second tweet, said, "Bet ya a signed dollar it's true." Wood said during his summation that Musk's tweets were akin to a "nuclear bomb" that would overshadow Unsworth's relationships and job prospects for years to come and urged jurors to teach the Tesla chief executive and SpaceX founder a lesson by awarding Unsworth $190 million, including $150 million in punitive damages. Two days earlier, under questioning on the witness stand, Musk had estimated his net worth at $20 billion. But the jury was apparently swayed by the arguments put forth by Musk's attorney, Alex Spiro, who said the tweets in question amounted to an off-hand insult in the midst of an argument, which no one could be expected to take seriously. "In arguments you insult people," he said. "No bomb went off." The defence also said Unsworth failed to demonstrate any harm from the Twitter comments and even tried to profit from his role in the rescue, which won him plaudits from the Thai and British governments. US District Judge Stephen Wilson had said the case hinged on whether a reasonable person would take Musk's Twitter statements to mean he was actually calling Unsworth a paedophile. To win, Unsworth needed to show that Musk was negligent in publishing a falsehood that clearly identified the plaintiff and caused him harm. "Actual malice" on Musk's part, a high standard in defamation cases, did not need to be proven since the judge deemed Unsworth a private individual, not a public figure. The trial revived discussion of Musk’s erratic behaviour in 2018, when he used Twitter to float a leveraged buyout proposal for Tesla that was scuttled, ultimately paying $20 million to settle a Securities and Exchange Commission complaint. For most of 2019, Musk, who has nearly 30 million Twitter followers, has largely kept his public comments focused on Tesla’s new models and improved profitability and on the technical progress of his aerospace company, SpaceX.

Tesla boss Elon Musk wins defamation trial over his 'pedo guy' tweet

High-tech entrepreneur <a href="https://www.wionews.com/world/elon-musk-trial-in-us-court-over-pedo-guy-tweet-266004">Elon Musk</a> testified at his defamation trial on Tuesday that his "pedo guy" Twitter message at the centre of the case was not meant to be taken literally and was sent in response to an "unprovoked" insult he received from the man now suing him.

Musk, 48, the billionaire chief executive of electric carmaker Tesla Inc&nbsp;and founder of the rocket company SpaceX, also apologized to the plaintiff from the witness stand in the packed Los Angeles courtroom.

Musk was the first witness called to testify in the lawsuit brought against him by British cave diver who gained fame for his lead role in the rescue of 12 boys and their soccer coach from a flooded cave in Thailand last year.

The diver, Vernon Unsworth, has accused Musk of falsely labelling him a paedophile on Twitter and is seeking unspecified punitive and other money damages.

The case stems from an offer Musk made to furnish a mini-submarine to assist in the Tham Luang Nang Non cave rescue in July 2018.

Unsworth told CNN on July 13, 2018, three days after the rescue was successfully completed, that Musk's offer was a "PR stunt" and that Musk should "stick his submarine where it hurts."

Two days later, Musk lashed out at Unsworth in a series of tweets, including one which called the cave diver a "pedo guy." Musk later apologized for the comment, saying the term was a common insult in South Africa where he grew up.

Unsworth has called the slur a lie that harmed his reputation.

'Random, creepy guy'

Under questioning from Unsworth's lawyer, after five women and three men were seated as jurors in the case, <a href="https://www.wionews.com/world/elon-musk-trial-in-us-court-over-pedo-guy-tweet-266004">Musk insisted the tweet in question</a> was his reaction to "an unprovoked attack on what was a good-natured attempt to help the kids.”

"It was wrong and insulting, and so I insulted him back," Musk said of his exchange with Unsworth, adding, "I thought he was just some random creepy guy” and was "unrelated to the rescue."

Pressed further by the plaintiff's attorney Lin Wood, Musk testified he did not mean for his tweet about Unsworth to be taken literally.

"I assume he did not mean to sodomise me with a submarine ... Just as I didn't literally mean he was a paedophile," he said.

"I apologised in a tweet and again in the (pretrial) deposition, and I'll say it again,&nbsp;I apologise to Mr&nbsp;Unsworth," Musk said looking directly at the plaintiff, who sat stone-faced through Musk's testimony.

Musk was expected to return to the witness stand on Wednesday for more questioning by his own lawyers.

US&nbsp;District Judge Stephen Wilson has explained the case hinges on whether a reasonable person would take Musk's Twitter statement to mean that he was calling Unsworth a paedophile.

To win the defamation case, Unsworth needs to show that Musk was negligent in publishing a falsehood that clearly identified the plaintiff and caused him harm. "Actual malice" on Musk's part does not need to be proven because the judge has deemed Unsworth a private individual rather than a public figure.

Although the case does not involve&nbsp;Tesla, Musk's Twitter habits have long been under close scrutiny, with investors and regulators expressing concerns about his tweets.

With 29.8 million followers, Musk's Twitter account is a major source of publicity for his Palo Alto, California-based electric car company, which does not advertise.

Wood, representing Unsworth, tried to establish that Musk knew he had a high degree of influence with his Twitter followers and the public, and that the veracity of what he said thus carried significant weight.

“People say a lot of things on Twitter that aren’t true,” Musk said.

Musk also acknowledged under oath that he was duped out of $52,000 by a man posing as a private detective to dig up information about Unsworth after it became clear a defamation suit was in the works. The investigator proved to be a con artist, Musk testified.

In an opening statement, lawyer Taylor Wilson, another member of Unsworth's legal team, said the tweet in question was more than a slip-up, and Musk had no business branding Unsworth a predator "in what should have been one of the proudest moments of his life."

Musk lawyer Alex Spiro countered that Unsworth did not act after the tweet like a man who suffered because of it.

"The plaintiff is saying he has been horribly damaged, and deserves money," Spiro said. "He doesn't."

High-tech entrepreneur Elon Musk testified at his defamation trial on Tuesday that his "pedo guy" Twitter message at the centre of the case was not meant to be taken literally and was sent in response to an "unprovoked" insult he received from the man now suing him.

High-tech entrepreneur Elon Musk testified at his defamation trial on Tuesday that his "pedo guy" Twitter message at the centre of the case was not meant to be taken literally and was sent in response to an "unprovoked" insult he received from the man now suing him. Musk, 48, the billionaire chief executive of electric carmaker Tesla Inc and founder of the rocket company SpaceX, also apologized to the plaintiff from the witness stand in the packed Los Angeles courtroom. Musk was the first witness called to testify in the lawsuit brought against him by British cave diver who gained fame for his lead role in the rescue of 12 boys and their soccer coach from a flooded cave in Thailand last year. The diver, Vernon Unsworth, has accused Musk of falsely labelling him a paedophile on Twitter and is seeking unspecified punitive and other money damages. The case stems from an offer Musk made to furnish a mini-submarine to assist in the Tham Luang Nang Non cave rescue in July 2018. Unsworth told CNN on July 13, 2018, three days after the rescue was successfully completed, that Musk's offer was a "PR stunt" and that Musk should "stick his submarine where it hurts." Two days later, Musk lashed out at Unsworth in a series of tweets, including one which called the cave diver a "pedo guy." Musk later apologized for the comment, saying the term was a common insult in South Africa where he grew up. Unsworth has called the slur a lie that harmed his reputation. 'Random, creepy guy' Under questioning from Unsworth's lawyer, after five women and three men were seated as jurors in the case, Musk insisted the tweet in question was his reaction to "an unprovoked attack on what was a good-natured attempt to help the kids.” "It was wrong and insulting, and so I insulted him back," Musk said of his exchange with Unsworth, adding, "I thought he was just some random creepy guy” and was "unrelated to the rescue." Pressed further by the plaintiff's attorney Lin Wood, Musk testified he did not mean for his tweet about Unsworth to be taken literally. "I assume he did not mean to sodomise me with a submarine ... Just as I didn't literally mean he was a paedophile," he said. "I apologised in a tweet and again in the (pretrial) deposition, and I'll say it again, I apologise to Mr Unsworth," Musk said looking directly at the plaintiff, who sat stone-faced through Musk's testimony. Musk was expected to return to the witness stand on Wednesday for more questioning by his own lawyers. US District Judge Stephen Wilson has explained the case hinges on whether a reasonable person would take Musk's Twitter statement to mean that he was calling Unsworth a paedophile. To win the defamation case, Unsworth needs to show that Musk was negligent in publishing a falsehood that clearly identified the plaintiff and caused him harm. "Actual malice" on Musk's part does not need to be proven because the judge has deemed Unsworth a private individual rather than a public figure. Although the case does not involve Tesla, Musk's Twitter habits have long been under close scrutiny, with investors and regulators expressing concerns about his tweets. With 29.8 million followers, Musk's Twitter account is a major source of publicity for his Palo Alto, California-based electric car company, which does not advertise. Wood, representing Unsworth, tried to establish that Musk knew he had a high degree of influence with his Twitter followers and the public, and that the veracity of what he said thus carried significant weight. “People say a lot of things on Twitter that aren’t true,” Musk said. Musk also acknowledged under oath that he was duped out of $52,000 by a man posing as a private detective to dig up information about Unsworth after it became clear a defamation suit was in the works. The investigator proved to be a con artist, Musk testified. In an opening statement, lawyer Taylor Wilson, another member of Unsworth's legal team, said the tweet in question was more than a slip-up, and Musk had no business branding Unsworth a predator "in what should have been one of the proudest moments of his life." Musk lawyer Alex Spiro countered that Unsworth did not act after the tweet like a man who suffered because of it. "The plaintiff is saying he has been horribly damaged, and deserves money," Spiro said. "He doesn't."

'Pedo guy' tweet not meant to be taken literally: Elon Musk

The CEO of Tesla and SpaceX, Elon Musk, is due to take the stand to go on trial for a defamation suit filed against him by Vernon Unsworth, British cave explorer who helped with the rescue of <a href="https://www.wionews.com/world/tesla-ceo-elon-musk-apologises-to-british-thai-cave-rescuer-after-calling-him-pedo-152580">12 boys and their soccer coach</a> from a cave in Thailand in July last year.

Musk has now-deleted the tweet which described Unsworth as a “pedo guy” for which Unsworth is now seeking punitive and compensatory damages for harming his reputation.&nbsp;

The trial which begins on Tuesday before US district judge Stephen Wilson in Los Angeles. It will&nbsp;last for five days. The row started after Musk offered a SpaceX mini-submarine to help with the rescue mission of kids trapped in a cave in Thailand, to which Unsworth gave a statement to CNN on July 13, 2018, claiming it was a “PR stunt”.

Two days later, Musk took to Twitter to lash out against Unsworth in a series of tweets, including one which said, “Sorry pedo guy, you really did ask for it."

When questioned about the accusations Musk replied with “bet ya a signed dollar it's true,” all of which were later deleted. Musk later sent out a tweet expressing apology after Tesla’s stock price dipped by as much as 4 per cent.&nbsp;

“His actions against me do not justify my actions against him...spoken in anger after Mr Unsworth said several untruths and suggested I engage in a sexual act with the mini-sub, which had been built as an act of kindness and according to specifications from the dive team leader,” Musk tweeted.&nbsp;

Judge Wilson earlier denied Musk’s legal team’s request to define Unsworth as a “public figure” due to which Unsworth does not have to provide proof that Musk acted with “actual malice”, lowering the bar necessary to win the case.&nbsp;

Unsworth now only needs to prove negligence on Musk’s side and not an actual intent to defame. Unsworth is required to prove Musk’s comments to be false and that people believed them to be true.&nbsp;

Musk is expected to testify in his own defence with his legal team insisting on not making any out-of-court settlements. “Pedo guy was a common insult used in South Africa when I was growing up,” &nbsp;said Musk in a court filing, which was claimed to be “offensive to the truth” by Unsworth’s legal team.&nbsp;

"It is synonymous with ‘creepy old man’ and is used to insult a person’s appearance and demeanour, not accuse a person of paedophilia,” according to the Tesla chief.

Musk’s legal team has claimed that the tweets were Musk’s opinion, not a statement of fact, and also that Unsworth aimed to gain profit from his role in the rescue mission.&nbsp;

The team also claims that Unsworth’s comments to CNN implying that Musk did not care about the lives of the trapped boys provoked Musk’s response.&nbsp;

The CEO of Tesla and SpaceX, Elon Musk, is due to take the stand to go on trial for a defamation suit filed against him by Vernon Unsworth, British cave explorer who helped with the rescue of 12 boys and their soccer coach from a cave in Thailand in July last year.

The CEO of Tesla and SpaceX, Elon Musk, is due to take the stand to go on trial for a defamation suit filed against him by Vernon Unsworth, British cave explorer who helped with the rescue of 12 boys and their soccer coach from a cave in Thailand in July last year. Musk has now-deleted the tweet which described Unsworth as a “pedo guy” for which Unsworth is now seeking punitive and compensatory damages for harming his reputation. The trial which begins on Tuesday before US district judge Stephen Wilson in Los Angeles. It will last for five days. The row started after Musk offered a SpaceX mini-submarine to help with the rescue mission of kids trapped in a cave in Thailand, to which Unsworth gave a statement to CNN on July 13, 2018, claiming it was a “PR stunt”. Two days later, Musk took to Twitter to lash out against Unsworth in a series of tweets, including one which said, “Sorry pedo guy, you really did ask for it." When questioned about the accusations Musk replied with “bet ya a signed dollar it's true,” all of which were later deleted. Musk later sent out a tweet expressing apology after Tesla’s stock price dipped by as much as 4 per cent. “His actions against me do not justify my actions against him...spoken in anger after Mr Unsworth said several untruths and suggested I engage in a sexual act with the mini-sub, which had been built as an act of kindness and according to specifications from the dive team leader,” Musk tweeted. Judge Wilson earlier denied Musk’s legal team’s request to define Unsworth as a “public figure” due to which Unsworth does not have to provide proof that Musk acted with “actual malice”, lowering the bar necessary to win the case. Unsworth now only needs to prove negligence on Musk’s side and not an actual intent to defame. Unsworth is required to prove Musk’s comments to be false and that people believed them to be true. Musk is expected to testify in his own defence with his legal team insisting on not making any out-of-court settlements. “Pedo guy was a common insult used in South Africa when I was growing up,” said Musk in a court filing, which was claimed to be “offensive to the truth” by Unsworth’s legal team. "It is synonymous with ‘creepy old man’ and is used to insult a person’s appearance and demeanour, not accuse a person of paedophilia,” according to the Tesla chief. Musk’s legal team has claimed that the tweets were Musk’s opinion, not a statement of fact, and also that Unsworth aimed to gain profit from his role in the rescue mission. The team also claims that Unsworth’s comments to CNN implying that Musk did not care about the lives of the trapped boys provoked Musk’s response.

Elon Musk on trial in US court over ‘pedo guy’ tweet

The CEO of <a href="https://www.wionews.com/business-economy/musk-suggests-tesla-has-200000-orders-for-cybertruck-264354">Tesla</a> and SpaceX, Elon Musk, is due to take the stand to go on trial for a defamation suit filed against him by Vernon Unsworth, British cave explorer who helped with the rescue of 12 boys and their soccer coach from the Tham Luang Nang Non <a href="https://www.wionews.com/south-asia/thailand-cave-rescue-the-survival-story-of-2018-186098">cave in Thailand</a> in July 2018.

Musk in a now-deleted tweet had described Unsworth as a “pedo guy” for which Unsworth is now seeking punitive and compensatory damages for harming his reputation.&nbsp;

The trial which begins on Tuesday before US District Judge Stephen Wilson in Los Angeles is set to last for five days.&nbsp;

The row started with Musk offering a SpaceX mini-submarine to help with the rescue mission in Thailand, to which Unsworth gave a statement to CNN on July 13, 2018, claiming it to be&nbsp; “PR stunt” and that Musk could “stick his submarine where it hurts."

Two days later, Musk took to Twitter to lash out against Unsworth in a series of tweets, including one which said, “Sorry pedo guy, you really did ask for it."

When questioned about the accusations Musk replied with “bet ya a signed dollar it's true,” all of which were later deleted.&nbsp;

Musk later sent out a tweet expressing apology after Tesla’s stock price dipped by as much as 4 per cent.&nbsp;

“His actions against me do not justify my actions against him...spoken in anger after Mr Unsworth said several untruths and suggested I engage in a sexual act with the mini-sub, which had been built as an act of kindness and according to specifications from the dive team leader,” Musk tweeted.&nbsp;

Judge Wilson earlier denied Musk’s legal team’s request to define Unsworth as a “public figure” due to which Unsworth does not have to provide proof that Musk acted with “actual malice”, lowering the bar necessary to win the case.&nbsp;

Unsworth now only needs to prove negligence on Musk’s side and not an actual intent to defame. Unsworth is required to prove Musk’s comments to be false and that people believed them to be true.&nbsp;

Musk is <a href="https://www.wionews.com/business-economy/musk-to-testify-in-own-defense-in-defamation-trial-his-lawyer-says-264544">expected to testify</a> in his own defence with his legal team insisting on not making any out-of-court settlements.&nbsp;

“Pedo guy was a common insult used in South Africa when I was growing up,”&nbsp; said Musk in a court filing in an attempt to have the case thrown out of court, which was claimed to be “offensive to the truth” by Unsworth’s legal team.&nbsp;

"It is synonymous with ‘creepy old man’ and is used to insult a person’s appearance and demeanour, not accuse a person of paedophilia.”

Musk’s legal team has claimed that the tweets were Musk’s opinion, not a statement of fact, and also that Unsworth aimed to gain profit from his role in the rescue mission.&nbsp;

The team also claims that Unsworth’s comments to CNN implying that Musk did not care about the lives of the trapped boys provoked Musk’s response.&nbsp;

The CEO of Tesla and SpaceX, Elon Musk, is due to take the stand to go on trial for a defamation suit filed against him by Vernon Unsworth, British cave explorer who helped with the rescue of 12 boys and their soccer coach from the Tham Luang Nang Non cave in Thailand in July 2018.

The CEO of Tesla and SpaceX, Elon Musk, is due to take the stand to go on trial for a defamation suit filed against him by Vernon Unsworth, British cave explorer who helped with the rescue of 12 boys and their soccer coach from the Tham Luang Nang Non cave in Thailand in July 2018. Musk in a now-deleted tweet had described Unsworth as a “pedo guy” for which Unsworth is now seeking punitive and compensatory damages for harming his reputation. The trial which begins on Tuesday before US District Judge Stephen Wilson in Los Angeles is set to last for five days. The row started with Musk offering a SpaceX mini-submarine to help with the rescue mission in Thailand, to which Unsworth gave a statement to CNN on July 13, 2018, claiming it to be “PR stunt” and that Musk could “stick his submarine where it hurts." Two days later, Musk took to Twitter to lash out against Unsworth in a series of tweets, including one which said, “Sorry pedo guy, you really did ask for it." When questioned about the accusations Musk replied with “bet ya a signed dollar it's true,” all of which were later deleted. Musk later sent out a tweet expressing apology after Tesla’s stock price dipped by as much as 4 per cent. “His actions against me do not justify my actions against him...spoken in anger after Mr Unsworth said several untruths and suggested I engage in a sexual act with the mini-sub, which had been built as an act of kindness and according to specifications from the dive team leader,” Musk tweeted. Judge Wilson earlier denied Musk’s legal team’s request to define Unsworth as a “public figure” due to which Unsworth does not have to provide proof that Musk acted with “actual malice”, lowering the bar necessary to win the case. Unsworth now only needs to prove negligence on Musk’s side and not an actual intent to defame. Unsworth is required to prove Musk’s comments to be false and that people believed them to be true. Musk is expected to testify in his own defence with his legal team insisting on not making any out-of-court settlements. “Pedo guy was a common insult used in South Africa when I was growing up,” said Musk in a court filing in an attempt to have the case thrown out of court, which was claimed to be “offensive to the truth” by Unsworth’s legal team. "It is synonymous with ‘creepy old man’ and is used to insult a person’s appearance and demeanour, not accuse a person of paedophilia.” Musk’s legal team has claimed that the tweets were Musk’s opinion, not a statement of fact, and also that Unsworth aimed to gain profit from his role in the rescue mission. The team also claims that Unsworth’s comments to CNN implying that Musk did not care about the lives of the trapped boys provoked Musk’s response.

Elon Musk to go to court in defamation trial over ‘pedo guy’ tweet

<a href="https://www.wionews.com/business-economy/tesla-cybertruck-orders-near-150000-just-days-after-chaotic-launch-264195">Tesla Inc</a>'s chief executive, <a href="https://www.wionews.com/business-economy/musk-suggests-tesla-has-200000-orders-for-cybertruck-264354">Elon&nbsp;Musk</a>, will&nbsp;testify&nbsp;in&nbsp;his&nbsp;own&nbsp;defence&nbsp;against a&nbsp;defamation&nbsp;lawsuit brought by a British cave explorer,&nbsp;Musk's&nbsp;lawyer&nbsp;said on Monday in US&nbsp;District Court in Los Angeles.

Vernon Unsworth is suing&nbsp;Musk&nbsp;for calling him a "<a href="https://www.wionews.com/world/after-elon-musks-pedo-tweet-british-rescuer-threatens-legal-action-152054">pedo guy</a>."&nbsp;Musk&nbsp;posted the tweet after Unsworth accused&nbsp;Musk&nbsp;in a CNN interview of grandstanding by offering to help Unsworth's diving team rescue 12 boys and their soccer coach from a Thailand cave in July 2018.

"Evidence is going to be through Mr&nbsp;Musk&nbsp;(testifying) that in fact, Mr&nbsp;Musk&nbsp;didn't call him a paedophile. Mr&nbsp;Musk&nbsp;deleted the tweet, apologised and moved on," Alexander Spiro,&nbsp;Musk’s attorney, told the court.&nbsp;

There was no sign either side was interested in settling the case before a&nbsp;trial&nbsp;scheduled to begin on December&nbsp;3 in the Los Angeles federal court.

Unsworth will also&nbsp;testify, said&nbsp;his&nbsp;attorney, L&nbsp;Lin Wood. He will provide evidence of damages by “talking about&nbsp;his&nbsp;worries,&nbsp;his&nbsp;anxieties,&nbsp;his&nbsp;concern by being branded a paedophile,” Wood told the court.

US&nbsp;District Judge Stephen Wilson called for the second day of pretrial&nbsp;hearings on Tuesday to thrash out what evidence can be used in next week's civil&nbsp;trial.

Last week, Wilson rejected&nbsp;Musk's attempt to have the lawsuit dismissed and also ruled that Unsworth was not a public figure - which makes it easier to prove&nbsp;defamation.

Unsworth can now win if he shows that&nbsp;Musk&nbsp;acted negligently when making&nbsp;his&nbsp;comments.

Musk&nbsp;had argued that Unsworth became a public figure because of&nbsp;his&nbsp;help with the high-profile rescue and needed to prove "actual malice."

Musk&nbsp;has apologized for the "pedo guy" comment, saying it was a common insult in South Africa where he was raised, and that he did not intend to accuse Unsworth of paedophilia.

Unsworth has denied the allegations and has said he had shared a house in the Thailand countryside with a 40-year-old woman who&nbsp;owned a nail salon.

The dispute between the two men arose after the search team decided not to use a mini-submarine offered by&nbsp;Musk's SpaceX rocket company to help with the rescue. Unsworth told CNN that the offer was a "PR stunt" and that&nbsp;Musk&nbsp;could "stick&nbsp;his&nbsp;submarine where it hurts."

Unsworth is seeking compensatory and punitive damages.

Musk&nbsp;recently settled a&nbsp; US&nbsp;Securities and Exchange Commission lawsuit over&nbsp;his&nbsp;Twitter use.

The case is Unsworth v&nbsp;Musk, US&nbsp;District Court, Central District of California, Number&nbsp;18-08048.

Tesla Inc's chief executive, Elon Musk, will testify in his own defence against a defamation lawsuit brought by a British cave explorer, Musk's lawyer said on Monday in US District Court in Los Angeles.

Tesla Inc's chief executive, Elon Musk, will testify in his own defence against a defamation lawsuit brought by a British cave explorer, Musk's lawyer said on Monday in US District Court in Los Angeles. Vernon Unsworth is suing Musk for calling him a "pedo guy." Musk posted the tweet after Unsworth accused Musk in a CNN interview of grandstanding by offering to help Unsworth's diving team rescue 12 boys and their soccer coach from a Thailand cave in July 2018. "Evidence is going to be through Mr Musk (testifying) that in fact, Mr Musk didn't call him a paedophile. Mr Musk deleted the tweet, apologised and moved on," Alexander Spiro, Musk’s attorney, told the court. There was no sign either side was interested in settling the case before a trial scheduled to begin on December 3 in the Los Angeles federal court. Unsworth will also testify, said his attorney, L Lin Wood. He will provide evidence of damages by “talking about his worries, his anxieties, his concern by being branded a paedophile,” Wood told the court. US District Judge Stephen Wilson called for the second day of pretrial hearings on Tuesday to thrash out what evidence can be used in next week's civil trial. Last week, Wilson rejected Musk's attempt to have the lawsuit dismissed and also ruled that Unsworth was not a public figure - which makes it easier to prove defamation. Unsworth can now win if he shows that Musk acted negligently when making his comments. Musk had argued that Unsworth became a public figure because of his help with the high-profile rescue and needed to prove "actual malice." Musk has apologized for the "pedo guy" comment, saying it was a common insult in South Africa where he was raised, and that he did not intend to accuse Unsworth of paedophilia. Unsworth has denied the allegations and has said he had shared a house in the Thailand countryside with a 40-year-old woman who owned a nail salon. The dispute between the two men arose after the search team decided not to use a mini-submarine offered by Musk's SpaceX rocket company to help with the rescue. Unsworth told CNN that the offer was a "PR stunt" and that Musk could "stick his submarine where it hurts." Unsworth is seeking compensatory and punitive damages. Musk recently settled a US Securities and Exchange Commission lawsuit over his Twitter use. The case is Unsworth v Musk, US District Court, Central District of California, Number 18-08048.

Musk to testify in own defence in defamation trial, his lawyer says

Cracks In Tesla's Armoured Car & Other Epic Fails.

Gravitas: Epic fail- when launch events go south!

Tesla's new electric pickup truck has secured almost 150,000 orders, the company's chief executive Elon Musk boasted on Twitter, just two days after its big reveal went embarrassingly wrong.

Tesla's new electric pickup truck has secured almost 150,000 orders, the company's chief executive Elon Musk boasted on Twitter, just two days after its big reveal went embarrassingly wrong. The billionaire Tesla co-founder floundered on stage in California on Thursday when the vehicle's armored glass windows cracked in a demonstration intended to prove their indestructible design. Shares in the company plunged 6.1 percent following the truck's bumpy launch and several lackluster reviews. But on Saturday Musk tweeted that Tesla had already received 146,000 orders from prospective owners. "146k Cybertruck orders so far, with 42% choosing dual, 41% tri & 17% single motor," he wrote. The demand comes despite the product receiving "no advertising & no paid endorsement". The industrial-looking Cybertruck is covered in the same steel alloy Musk plans to use for his SpaceX Starship rocket and will be able to go from 0 to 100 kilometers (62 miles) per hour in about three seconds, the Tesla chief executive claimed in his presentation. He said the entry-level model will have a starting price of $39,900 and a 400-kilometer (250-mile) range, while a deluxe option will be able to travel twice the distance and will sell for $69,900. No date has been given for its release, but analysts said it would not be ready before the end of 2021 at the earliest. Its space-age design is unlikely to challenge top-selling models by Ford and other conventional car companies, analysts warn.

Tesla cybertruck orders near 150,000 just days after chaotic launch

Wall Street advanced on Friday as both Washington and Beijing made positive comments on the potential for a trade deal between the world's two biggest economies and upbeat domestic economic data helped to ease investor worries.

US&nbsp;President <a href="https://www.wionews.com/world/frustrated-trump-lashes-out-at-impeachment-probe-263974">Donald Trump</a> told Fox News a trade deal was "potentially very close" following <a href="https://www.wionews.com/world/want-to-work-out-preliminary-trade-deal-with-united-states-not-afraid-of-retaliating-chinese-president-jinping-263827">remarks by President Xi Jinping</a> that Beijing wanted to work out an initial agreement.

The S&amp;P 500 and the Dow showed their biggest daily gains in a lacklustre week marked by uncertainty, with a report suggesting the delay of a trade truce to 2020 and US&nbsp;lawmakers passing two bills <a href="https://www.wionews.com/world/hong-kong-would-be-obliterated-in-14-minutes-if-not-for-me-donald-trump-263961">supporting protesters in Hong Kong</a>, which could complicate US-China talks.

Strategists said it helped that Trump was vague on Friday about whether he would sign or veto the bills.

Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia, attributed Friday's gains to strong US&nbsp;manufacturing data as well as the improving mood on trade. He said investors were cautious about the apparent trade progress, however.

“President Trump saying it's close is news we’ve heard before. How close is close? Close but not quite or close but I could change my mind?" he said. "That’s what’s keeping the market on its heels at the moment, keeping the move a little bit more timid.”

Manufacturing output accelerated in November to its fastest pace in seven months and services activity picked up more than expected.

The Dow Jones Industrial Average&nbsp;rose 109.33 points, or 0.39 per cent, to 27,875.62, the S&amp;P 500&nbsp;gained 6.75 points, or 0.22 per cent, to 3,110.29 and the Nasdaq Composite&nbsp;added 13.67 points, or 0.16 per cent, to 8,519.89.

Still, the S&amp;P snapped its six-week winning streak, while the tech-heavy Nasdaq registered its first weekly drop in eight weeks and the Dow showed a weekly loss after four weeks of gains. A largely better-than-expected third-quarter corporate earnings season contributed to recent rallies.

Seven of the 11 major S&amp;P 500 sectors closed higher, led by a 0.76 per cent&nbsp;gain in financials&nbsp;and a 0.65 per cent&nbsp;rise in consumer discretionary.

Nordstrom Inc&nbsp;rose 10.6 per cent&nbsp;after the retailer raised its 2019 forecast and reported third-quarter profit above expectations. Gap Inc&nbsp;shares rose 4.4 per cent&nbsp;as the retailer beat lowered quarterly profit estimates days after it cut its annual forecast and replaced its longtime chief executive officer.

Shares of Tesla Inc&nbsp;fell 6 per cent&nbsp;as Wall Street questioned the look of its newly unveiled electric pickup truck, whose "armored glass" windows<a href="https://www.wionews.com/business-economy/tesla-suffer-mishap-during-launch-of-electric-cybertruck-263848"> shattered in a demonstration</a>.

Intuit Inc&nbsp;dropped 4.2 per cent&nbsp;after the income-tax filing software maker forecast second-quarter profit below estimates.

Advancing issues outnumbered declining ones on the NYSE by a 1.50-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favoured advancers.

The S&amp;P 500 posted 17 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 60 new highs and 84 new lows.

On US&nbsp;exchanges, 5.96 billion shares changed hands compared with the 7.03 billion average for the last 20 sessions.

Wall Street advanced on Friday as both Washington and Beijing made positive comments on the potential for a trade deal between the world's two biggest economies and upbeat domestic economic data helped to ease investor worries.

Wall Street advanced on Friday as both Washington and Beijing made positive comments on the potential for a trade deal between the world's two biggest economies and upbeat domestic economic data helped to ease investor worries. US President Donald Trump told Fox News a trade deal was "potentially very close" following remarks by President Xi Jinping that Beijing wanted to work out an initial agreement. The S&P 500 and the Dow showed their biggest daily gains in a lacklustre week marked by uncertainty, with a report suggesting the delay of a trade truce to 2020 and US lawmakers passing two bills supporting protesters in Hong Kong, which could complicate US-China talks. Strategists said it helped that Trump was vague on Friday about whether he would sign or veto the bills. Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia, attributed Friday's gains to strong US manufacturing data as well as the improving mood on trade. He said investors were cautious about the apparent trade progress, however. “President Trump saying it's close is news we’ve heard before. How close is close? Close but not quite or close but I could change my mind?" he said. "That’s what’s keeping the market on its heels at the moment, keeping the move a little bit more timid.” Manufacturing output accelerated in November to its fastest pace in seven months and services activity picked up more than expected. The Dow Jones Industrial Average rose 109.33 points, or 0.39 per cent, to 27,875.62, the S&P 500 gained 6.75 points, or 0.22 per cent, to 3,110.29 and the Nasdaq Composite added 13.67 points, or 0.16 per cent, to 8,519.89. Still, the S&P snapped its six-week winning streak, while the tech-heavy Nasdaq registered its first weekly drop in eight weeks and the Dow showed a weekly loss after four weeks of gains. A largely better-than-expected third-quarter corporate earnings season contributed to recent rallies. Seven of the 11 major S&P 500 sectors closed higher, led by a 0.76 per cent gain in financials and a 0.65 per cent rise in consumer discretionary. Nordstrom Inc rose 10.6 per cent after the retailer raised its 2019 forecast and reported third-quarter profit above expectations. Gap Inc shares rose 4.4 per cent as the retailer beat lowered quarterly profit estimates days after it cut its annual forecast and replaced its longtime chief executive officer. Shares of Tesla Inc fell 6 per cent as Wall Street questioned the look of its newly unveiled electric pickup truck, whose "armored glass" windows shattered in a demonstration. Intuit Inc dropped 4.2 per cent after the income-tax filing software maker forecast second-quarter profit below estimates. Advancing issues outnumbered declining ones on the NYSE by a 1.50-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favoured advancers. The S&P 500 posted 17 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 60 new highs and 84 new lows. On US exchanges, 5.96 billion shares changed hands compared with the 7.03 billion average for the last 20 sessions.

Wall Street rises with US-China trade mood, upbeat economic data

<a href="https://www.wionews.com/business-economy/teslas-musk-greenlights-einhorn-taunt-each-other-on-twitter-261007">Tesla&nbsp;Inc</a> on Thursday unveiled its&nbsp;first&nbsp;pickup&nbsp;truck, delivering on a promise by Chief Executive <a href="https://www.wionews.com/world/elon-musk-unveils-chip-allowing-brain-computer-communication-237060">Elon Musk</a> to build an&nbsp;electric&nbsp;version of America's favourite vehicle and one that threatens the heart of Detroit automakers' profits.

At a launch event in Los Angeles,&nbsp;Tesla&nbsp;Chief Executive Elon Musk said the&nbsp;truck, which looked liked a futuristic armoured vehicle, will have a starting price of $39,900 and a maximum range of 500 plus miles.

"We need sustainable energy now. If we don't have a&nbsp;pickup&nbsp;truck&nbsp;we can't solve it. The top three&nbsp;selling vehicles in America are&nbsp;pickup&nbsp;trucks. To solve sustainable energy, we have to have a&nbsp;pickup&nbsp;truck," he said.

Production is expected to begin in late 2021.

Musk earlier tweeted the design was partly influenced by the Lotus Esprit sportscar that doubled as a submarine in the 1970s 007 films "The Spy Who Loved Me".

The&nbsp;truck&nbsp;marks the&nbsp;first&nbsp;foray by&nbsp;Tesla, whose Model 3 sedan is the world's top-selling battery-electric&nbsp;car, into&nbsp;pickup&nbsp;trucks, a market dominated by Ford Motor Co's F-150, along with models by General Motors Co, and Fiat Chrysler Automobiles NV.

The&nbsp;pickup&nbsp;shifts&nbsp;Tesla&nbsp;more toward&nbsp;trucks and SUVs. The automaker has so far sold mostly Model S and Model 3 sedans, but also offers the Model X SUV and starting next year the Model Y compact SUV.

A focus on the high-performance end of the market is only natural given the success of Ford's 450-horsepower F-150 Raptor&nbsp;truck, which launched in 2009 and whose sales have since risen annually, according to Ford spokesman Mike Levine.

While Ford does not disclose Raptor sales, Levine said annual demand is well above 19,000 vehicles and the number&nbsp;2 US&nbsp;automaker has never&nbsp;had to offer incentives on the model, which costs in the high $60,000 range. Ford also offers the more expensive F-150 Limited, its most powerful and luxurious&nbsp;pickup.

Ford and GM are also gearing up to challenge&nbsp;Tesla&nbsp;more directly with new offerings like the Ford Mustang Mach E&nbsp;electric&nbsp;SUV as well as&nbsp;electric&nbsp;pickups.

Electric&nbsp;pickups and SUVs could help <a href="https://www.wionews.com/entertainment/box-office-ford-v-ferrari-races-to-first-place-charlies-angels-collapses-262840">Ford </a>and GM generate the significant EV sales they will need to meet tougher emission standards and EV mandates in California and other states.

The Trump administration is moving to roll back those standards, but&nbsp;electric&nbsp;trucks are a hedge if California prevails.

Demand for full-size&nbsp;electric&nbsp;pickup&nbsp;trucks in the near term may not be huge, however.

Industry tracking firm IHS Markit estimates the&nbsp;electric&nbsp;truck&nbsp;segment - both full- and mid-sized models - will account for about 75,000 sales in 2026, compared with an expected 3 million light&nbsp;trucks overall. The&nbsp;Tesla&nbsp;truck&nbsp;is not part of that estimate.

Tesla Inc on Thursday unveiled its first pickup truck, delivering on a promise by Chief Executive Elon Musk to build an electric version of America's favourite vehicle and one that threatens the heart of Detroit automakers' profits.

Tesla Inc on Thursday unveiled its first pickup truck, delivering on a promise by Chief Executive Elon Musk to build an electric version of America's favourite vehicle and one that threatens the heart of Detroit automakers' profits. At a launch event in Los Angeles, Tesla Chief Executive Elon Musk said the truck, which looked liked a futuristic armoured vehicle, will have a starting price of $39,900 and a maximum range of 500 plus miles. "We need sustainable energy now. If we don't have a pickup truck we can't solve it. The top three selling vehicles in America are pickup trucks. To solve sustainable energy, we have to have a pickup truck," he said. Production is expected to begin in late 2021. Musk earlier tweeted the design was partly influenced by the Lotus Esprit sportscar that doubled as a submarine in the 1970s 007 films "The Spy Who Loved Me". The truck marks the first foray by Tesla, whose Model 3 sedan is the world's top-selling battery-electric car, into pickup trucks, a market dominated by Ford Motor Co's F-150, along with models by General Motors Co, and Fiat Chrysler Automobiles NV. The pickup shifts Tesla more toward trucks and SUVs. The automaker has so far sold mostly Model S and Model 3 sedans, but also offers the Model X SUV and starting next year the Model Y compact SUV. A focus on the high-performance end of the market is only natural given the success of Ford's 450-horsepower F-150 Raptor truck, which launched in 2009 and whose sales have since risen annually, according to Ford spokesman Mike Levine. While Ford does not disclose Raptor sales, Levine said annual demand is well above 19,000 vehicles and the number 2 US automaker has never had to offer incentives on the model, which costs in the high $60,000 range. Ford also offers the more expensive F-150 Limited, its most powerful and luxurious pickup. Ford and GM are also gearing up to challenge Tesla more directly with new offerings like the Ford Mustang Mach E electric SUV as well as electric pickups. Electric pickups and SUVs could help Ford and GM generate the significant EV sales they will need to meet tougher emission standards and EV mandates in California and other states. The Trump administration is moving to roll back those standards, but electric trucks are a hedge if California prevails. Demand for full-size electric pickup trucks in the near term may not be huge, however. Industry tracking firm IHS Markit estimates the electric truck segment - both full- and mid-sized models - will account for about 75,000 sales in 2026, compared with an expected 3 million light trucks overall. The Tesla truck is not part of that estimate.

Tesla unveils first-ever electric pickup truck

The big reveal of <a href="https://www.wionews.com/business-economy/tesla-unveils-first-ever-electric-pickup-truck-263785">Tesla's electric pick-up</a> went&nbsp;wrong when the supposedly impact-proof windows smash, leaving a flustered Elon Musk to flounder through the rest of his presentation in front of a badly damaged vehicle.

The Tesla co-founder unveiled the all-electric battery-powered Tesla Cybertruck in California on Thursday, daring staff to hit the vehicle with sledgehammers and showing a video of it withstanding bullets shot from a 9mm gun.

But the demonstration of the vehicle's indestructible windows didn't appear to go entirely to plan after one assistant threw a steel ball bearing at the truck, only to see the armoured glass smash.

An expletive could be heard at the Tesla Design Center and as his assistant laughed nervously, Musk said: "Well, maybe that was a little too hard."

Watch: Look at Tesla Cybertruck's epic fail moment

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A second attempt fared little better, however, and another window was left badly damaged.

"It didn't go through," said a clearly uncomfortable Musk, who was forced to push on through the remainder of the chaotic launch with the two smashed windows in full view.&nbsp;

The industrial-looking Cybertruck,&nbsp;covered in the same steel alloy Musk plans to use for his SpaceX rocket,&nbsp;will have a starting price of $39,900 and can go from 0 to 100 kilometres per hour in about three seconds, the Tesla chief executive claimed.

No date has been given for its release but analysts said it would not be ready before the end of 2021 at the earliest.

Tesla dominates the global electric car market and has an especially firm grip on the United States.

The big reveal of Tesla's electric pick-up went wrong when the supposedly impact-proof windows smash, leaving a flustered Elon Musk to flounder through the rest of his presentation in front of a badly damaged vehicle.

The big reveal of Tesla's electric pick-up went wrong when the supposedly impact-proof windows smash, leaving a flustered Elon Musk to flounder through the rest of his presentation in front of a badly damaged vehicle. The Tesla co-founder unveiled the all-electric battery-powered Tesla Cybertruck in California on Thursday, daring staff to hit the vehicle with sledgehammers and showing a video of it withstanding bullets shot from a 9mm gun. But the demonstration of the vehicle's indestructible windows didn't appear to go entirely to plan after one assistant threw a steel ball bearing at the truck, only to see the armoured glass smash. An expletive could be heard at the Tesla Design Center and as his assistant laughed nervously, Musk said: "Well, maybe that was a little too hard." Watch: Look at Tesla Cybertruck's epic fail moment A second attempt fared little better, however, and another window was left badly damaged. "It didn't go through," said a clearly uncomfortable Musk, who was forced to push on through the remainder of the chaotic launch with the two smashed windows in full view. The industrial-looking Cybertruck, covered in the same steel alloy Musk plans to use for his SpaceX rocket, will have a starting price of $39,900 and can go from 0 to 100 kilometres per hour in about three seconds, the Tesla chief executive claimed. No date has been given for its release but analysts said it would not be ready before the end of 2021 at the earliest. Tesla dominates the global electric car market and has an especially firm grip on the United States.

Tesla suffers mishap during launch of electric cybertruck

Built for bullets, smashed by a ball! Look at Tesla Cybertruck's epic fail moment

Look at Tesla Cybertruck's epic fail moment

More than half the cars produced by Porsche will be electric by 2025, the German manufacturer's North American chief said Tuesday as he set out plans to overtake <a href="https://www.wionews.com/business-economy/teslas-musk-greenlights-einhorn-taunt-each-other-on-twitter-261007">market leader Tesla</a>.

"The future is electric," Klaus Zellmer told the Los Angeles Auto Show, adding that the brand's commitment to battery-powered vehicles is "huge."

"By 2025 Porsche will have crossed a tipping point, actually building more than 50 per cent of its annual volume ... with either plug-in hybrid technology or fully battery," he said.

However, he added, the "combustion engine of course is not dead," pointing to Porsche's popular 911 sports cars.

Porsche, a subsidiary of the Volkswagen group, unveiled its new battery-powered Taycan at Frankfurt's International Auto Show in September.&nbsp;

The brand's first 100 per cent electric sports car, the Taycan is capable of going from 0 to 60 miles per hour in less than three seconds.

The luxury model is intended to rival Tesla, the California firm that dominates the global electric car market.

Tesla has an especially firm grip on the United States, which is Porsche's second-largest market. The German brand sold 57,000 cars in the US last year.

From 2021 Porsche intends to sell a fully electric version of its SUV, the Macan, which would compete directly against Tesla's Y model.

"The electric Macan will compete in many different segments,&nbsp;it's going to draw&nbsp;many people from different segments" just as Tesla did when it entered the market, Zellmer said.

"It's not a transition that is going to turn the world upside down within five years, it's probably 10 years" away, the North American CEO added.

<a href="https://www.wionews.com/business-economy/tesla-surges-twitter-slumps-amid-united-states-earnings-deluge-258002">Porsche is facing growing competition</a> in China, its biggest single market, from Tesla.

Tesla last month said its new so-called Gigafactory in Shanghai had started production on a trial basis.

Zellmer said the growth of electric cars in China was being impeded by the lack of access to charging facilities in mega-cities where tens of millions live and work in high rise buildings.

"Charging your car for the night is a challenge. Ninety per cent of charging according to our market research actually happens at home or at work," he said.

More than half the cars produced by Porsche will be electric by 2025, the German manufacturer's North American chief said Tuesday as he set out plans to overtake market leader Tesla.

More than half the cars produced by Porsche will be electric by 2025, the German manufacturer's North American chief said Tuesday as he set out plans to overtake market leader Tesla. "The future is electric," Klaus Zellmer told the Los Angeles Auto Show, adding that the brand's commitment to battery-powered vehicles is "huge." "By 2025 Porsche will have crossed a tipping point, actually building more than 50 per cent of its annual volume ... with either plug-in hybrid technology or fully battery," he said. However, he added, the "combustion engine of course is not dead," pointing to Porsche's popular 911 sports cars. Porsche, a subsidiary of the Volkswagen group, unveiled its new battery-powered Taycan at Frankfurt's International Auto Show in September. The brand's first 100 per cent electric sports car, the Taycan is capable of going from 0 to 60 miles per hour in less than three seconds. The luxury model is intended to rival Tesla, the California firm that dominates the global electric car market. Tesla has an especially firm grip on the United States, which is Porsche's second-largest market. The German brand sold 57,000 cars in the US last year. From 2021 Porsche intends to sell a fully electric version of its SUV, the Macan, which would compete directly against Tesla's Y model. "The electric Macan will compete in many different segments, it's going to draw many people from different segments" just as Tesla did when it entered the market, Zellmer said. "It's not a transition that is going to turn the world upside down within five years, it's probably 10 years" away, the North American CEO added. Porsche is facing growing competition in China, its biggest single market, from Tesla. Tesla last month said its new so-called Gigafactory in Shanghai had started production on a trial basis. Zellmer said the growth of electric cars in China was being impeded by the lack of access to charging facilities in mega-cities where tens of millions live and work in high rise buildings. "Charging your car for the night is a challenge. Ninety per cent of charging according to our market research actually happens at home or at work," he said.

'Future is electric': Porsche sets out plans to battle Tesla in US

Tesla Inc Chief Executive Officer Elon Musk and noted short-seller David Einhorn mocked each other in open letters published on Twitter on Friday, trading barbs clothed in polite language.

Einhorn on Oct. 30 had told his investors at Greenlight Capital that his fund had lost money on Tesla. Greenlight bet against the electric carmaker, and shares rose in the second quarter.

Still, he told investors that Tesla "appears to continue to spin positive PR ahead of the safety and fair treatment of its customers."

Musk, who has a history of being playful on Twitter, began an exchange by posting an open letter&nbsp;on Twitter addressing Einhorn as "Dear Mr&nbsp;Unicorn (fabulous name btw)". Einhorn means unicorn in German.

Musk further added that Einhorn made numerous "false allegations" against Tesla and offered "sympathies" for a drop in assets under management.

"It is understandable that you wish to save face with your investors, given the losses you suffered from Tesla's successful third quarter, especially since you've had several down years in performance and a sharp drop in assets under management from $15 billion to $5 billion," Musk wrote.

Einhorn responded with an open letter&nbsp;on Twitter, asking the billionaire entrepreneur to be specific about false statements so that Greenlight could correct them.

"By continually changing the narrative and narrowly averting crisis after crisis, you certainly have kept it interesting," Einhorn said.

Einhorn said his hedge fund and Tesla had "some similarities and some differences".

"We both struggled last year. However, a key difference is that Greenlight's&nbsp;business&nbsp;has generated real profits for our investors since we began in 1996," Einhorn said.

Greenlight Capital first rose to prominence for making a prescient call on Lehman Brothers' accounting troubles before the firm's collapse.

Last year, it compared Tesla to Lehman and earlier this year said the company appeared to be "on the brink" of failure.

Investors in the past have shown impatience with Tesla's failures to meet financial and production targets. The carmaker, however, put some concerns to rest after delivering a surprise profit in its third quarter.

Musk invited Einhorn to meet him and tour Tesla's facilities to learn about the company's progress.

"Finally, please allow us to send you a small gift of short shorts to help you through this difficult time," Musk said, signing off as "Treelon Musk."

Einhorn welcomed the offer to learn more about Tesla.

"I think facility visits would be fun (can we start in Buffalo?). I might learn the difference between your alien dreadnought factory and cars made by hand in a tent."

Tesla Inc Chief Executive Officer Elon Musk and noted short-seller David Einhorn mocked each other in open letters published on Twitter on Friday, trading barbs clothed in polite language.

Tesla Inc Chief Executive Officer Elon Musk and noted short-seller David Einhorn mocked each other in open letters published on Twitter on Friday, trading barbs clothed in polite language. Einhorn on Oct. 30 had told his investors at Greenlight Capital that his fund had lost money on Tesla. Greenlight bet against the electric carmaker, and shares rose in the second quarter. Still, he told investors that Tesla "appears to continue to spin positive PR ahead of the safety and fair treatment of its customers." Musk, who has a history of being playful on Twitter, began an exchange by posting an open letter on Twitter addressing Einhorn as "Dear Mr Unicorn (fabulous name btw)". Einhorn means unicorn in German. Musk further added that Einhorn made numerous "false allegations" against Tesla and offered "sympathies" for a drop in assets under management. "It is understandable that you wish to save face with your investors, given the losses you suffered from Tesla's successful third quarter, especially since you've had several down years in performance and a sharp drop in assets under management from $15 billion to $5 billion," Musk wrote. Einhorn responded with an open letter on Twitter, asking the billionaire entrepreneur to be specific about false statements so that Greenlight could correct them. "By continually changing the narrative and narrowly averting crisis after crisis, you certainly have kept it interesting," Einhorn said. Einhorn said his hedge fund and Tesla had "some similarities and some differences". "We both struggled last year. However, a key difference is that Greenlight's business has generated real profits for our investors since we began in 1996," Einhorn said. Greenlight Capital first rose to prominence for making a prescient call on Lehman Brothers' accounting troubles before the firm's collapse. Last year, it compared Tesla to Lehman and earlier this year said the company appeared to be "on the brink" of failure. Investors in the past have shown impatience with Tesla's failures to meet financial and production targets. The carmaker, however, put some concerns to rest after delivering a surprise profit in its third quarter. Musk invited Einhorn to meet him and tour Tesla's facilities to learn about the company's progress. "Finally, please allow us to send you a small gift of short shorts to help you through this difficult time," Musk said, signing off as "Treelon Musk." Einhorn welcomed the offer to learn more about Tesla. "I think facility visits would be fun (can we start in Buffalo?). I might learn the difference between your alien dreadnought factory and cars made by hand in a tent."

Tesla's Musk, Greenlight's Einhorn taunt each other on Twitter

Elon&nbsp;Musk, who garnered attention for quitting Twitter last week, is back on the social platform, with little explanation for the hiatus or the return.

The chief executive of electric automaker Tesla, as well as the private space firm SpaceX, was tweeting late Monday to congratulate the crew of the free-flying spacecraft Dragon.

"SpaceX team has completed 13 successful tests in a row of upgraded Mark 3 parachutes for Crew Dragon,"&nbsp;Musk&nbsp;wrote. "Most recent tests demonstrated the parachute system's ability to land the spacecraft safely in the unlikely event that one of the four main parachutes fails."

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet" data-lang="en">
Great work by SpaceX Dragon team &amp; Airborne! To be clear, we’ve only done 1 multi-parachute test of Mk3 design, so 9 more left to reach 10 successful tests in a row. <a href="https://t.co/Q814zVoW4S">https://t.co/Q814zVoW4S</a>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1191475073758064640?ref_src=twsrc%5Etfw">November 4, 2019</a></blockquote>
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Last Friday he appeared to leave the messaging service on which he has some 29 million followers, writing simply, "Not sure about good of Twitter," and then saying "Going offline."

He has not elaborated about leaving or returning to Twitter.

Musk&nbsp;has found himself in hot water in recent months over his Twitter remarks.

The US Securities and Exchange Commission which accused him of misleading Tesla investors on the platform, resulting in a court settlement requiring him to step down as chairman of the auto firm.

Musk&nbsp;also is being sued for defamation by a man who helped in the dramatic rescue of 12 boys trapped in an underwater cave in Thailand last year following his tweet calling the British caver a "pedo guy."

Elon Musk, who garnered attention for quitting Twitter last week, is back on the social platform, with little explanation for the hiatus or the return. The chief executive of electric automaker Tesla, as well as the private space firm SpaceX, was tweeting late Monday to congratulate the crew of the free-flying spacecraft Dragon.

Elon Musk, who garnered attention for quitting Twitter last week, is back on the social platform, with little explanation for the hiatus or the return. The chief executive of electric automaker Tesla, as well as the private space firm SpaceX, was tweeting late Monday to congratulate the crew of the free-flying spacecraft Dragon. "SpaceX team has completed 13 successful tests in a row of upgraded Mark 3 parachutes for Crew Dragon," Musk wrote. "Most recent tests demonstrated the parachute system's ability to land the spacecraft safely in the unlikely event that one of the four main parachutes fails." Great work by SpaceX Dragon team & Airborne! To be clear, we’ve only done 1 multi-parachute test of Mk3 design, so 9 more left to reach 10 successful tests in a row. https://t.co/Q814zVoW4S — Elon Musk (@elonmusk) November 4, 2019 × Last Friday he appeared to leave the messaging service on which he has some 29 million followers, writing simply, "Not sure about good of Twitter," and then saying "Going offline." He has not elaborated about leaving or returning to Twitter. Musk has found himself in hot water in recent months over his Twitter remarks. The US Securities and Exchange Commission which accused him of misleading Tesla investors on the platform, resulting in a court settlement requiring him to step down as chairman of the auto firm. Musk also is being sued for defamation by a man who helped in the dramatic rescue of 12 boys trapped in an underwater cave in Thailand last year following his tweet calling the British caver a "pedo guy."

Elon Musk back on Twitter after break

Panasonic Corp on Thursday reported a 12 percent drop in its second-quarter operating profit as the Japanese firm was hurt by the Sino-US&nbsp;trade war and higher development costs related to its automotive business in Europe.

Still, its September-quarter earnings of 83.9 billion yen beat analysts' average estimate of 62.74 billion yen, according to Refinitiv data, as the battery business with Tesla Inc narrowed its losses.

A year earlier, Panasonic, the exclusive battery cell supplier for new electric vehicles (EVs) made by Tesla Inc, had earned 95.2 billion yen.

The company maintained its profit forecast for the year through March at 300 billion yen, compared with an average estimate of 293.94 billion yen from 19 analysts.

Panasonic has turned its focus away from low-margin consumer electronics and bet on businesses that sell to automakers as well as to corporations such as factory-owners and firms that automate processes.

But the shift has failed to lift profits at a time when the US-China trade war has hit industrial purchases and output, and the global car market is contracting.

Tesla is also yet to show sustained profits. The Japanese company's chief executive, Kazuhiro Tsuga, has admitted he underestimated development costs for car components and risks associated with Tesla.

The electric carmaker surprised investors last week with a quarterly profit that sent its shares soaring.

Panasonic said on Thursday its automotive business, which includes car batteries, recorded an operating loss of 12.7 billion yen compared with a 7.1 billion yen loss in the year-ago quarter.

While Tsuga has promised to expand into "solutions services" for business customers by leveraging the company's expertise in various industries, he is yet to detail what that growth strategy would look like.

Tsuga is expected to hold a strategy briefing on November 22. He was scheduled to attend an earnings briefing on Thursday, but cancelled earlier this week.

Panasonic Corp on Thursday reported a 12 percent drop in its second-quarter operating profit as the Japanese firm was hurt by the Sino-US trade war and higher development costs related to its automotive business in Europe.

Panasonic Corp on Thursday reported a 12 percent drop in its second-quarter operating profit as the Japanese firm was hurt by the Sino-US trade war and higher development costs related to its automotive business in Europe. Still, its September-quarter earnings of 83.9 billion yen beat analysts' average estimate of 62.74 billion yen, according to Refinitiv data, as the battery business with Tesla Inc narrowed its losses. A year earlier, Panasonic, the exclusive battery cell supplier for new electric vehicles (EVs) made by Tesla Inc, had earned 95.2 billion yen. The company maintained its profit forecast for the year through March at 300 billion yen, compared with an average estimate of 293.94 billion yen from 19 analysts. Panasonic has turned its focus away from low-margin consumer electronics and bet on businesses that sell to automakers as well as to corporations such as factory-owners and firms that automate processes. But the shift has failed to lift profits at a time when the US-China trade war has hit industrial purchases and output, and the global car market is contracting. Tesla is also yet to show sustained profits. The Japanese company's chief executive, Kazuhiro Tsuga, has admitted he underestimated development costs for car components and risks associated with Tesla. The electric carmaker surprised investors last week with a quarterly profit that sent its shares soaring. Panasonic said on Thursday its automotive business, which includes car batteries, recorded an operating loss of 12.7 billion yen compared with a 7.1 billion yen loss in the year-ago quarter. While Tsuga has promised to expand into "solutions services" for business customers by leveraging the company's expertise in various industries, he is yet to detail what that growth strategy would look like. Tsuga is expected to hold a strategy briefing on November 22. He was scheduled to attend an earnings briefing on Thursday, but cancelled earlier this week.

Japan's Panasonic profit drops 12% on trade war, higher costs

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