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Tesla customers are today receiving an email alerting them to a voluntary recall of Model S and Model X vehicles due to a malfunctioning touchscreen. The recall follows pressure from US regulators, and was posted to a US government website on Tuesday, stating that 2012-2018 Model S and 2016-2018 Model X vehicles pose a safety issue. Last month, the US National Highway Traffic Safety Administration sent Tesla a formal letter requesting the recall of 158,000 cars.
Tesla founder Elon Musk has announced technology that he says will make Tesla batteries cheaper and more powerful. At a live presentation that Mr Musk labeled ‘Battery Day’ he also teased the possibility of a $25,000, fully-autonomous Tesla “in about three years time”. But the news didn’t excite investors and $50bn was wiped off its stock market value.
The RCMP in Alberta have charged a 20-year-old British Columbia man with speeding while he was asleep at the wheel of a Tesla electric car. The car appeared to be driving on autopilot at more than 95mph (140 kmh.) Tesla Model S sedans have autopilot functions, including auto-steer and “traffic-aware” cruise control, and both functions appeared to be activated.
Tesla Inc. raised $2.35 billion through debt and stock offerings that were boosted from the company’s initial plans. The electric-car maker raised $750 million of common stock priced at $243 per share and borrowed $1.6 billion through an offering of convertible bonds due 2024 at a 2 percent coupon and a 27.5 percent conversion premium, Tesla said Friday in a filing. Tesla tapped the markets again after Elon Musk overestimated the ability of the Model 3 sedan to generate enough cash for the company to be self-sustaining.
Tesla has reportedly been subpoenaed by the Security and Exchange Commision (SEC) following founder Elon Musk’s statement that he may take the company private and that funding is ‘secured.’. Tesla shares dropped by as much as 4% on Wednesday following the news of the subpoena. Tesla and the SEC have not commented on the subpoena.
Elon Musk lashed out at analysts on Wednesday during a wide ranging earnings call, leading Tesla’s stock price to fall by 5.6% on Thursday. Analysts described the call as ‘downright bizarre’ and ‘unusual.’ Musk commented, saying some of the questions were ‘boring bonehead questions.’ Musk eventually turned the conversation to questions from YouTube.
Tesla Inc’s highly anticipated unveiling of its futuristic pickup truck suffered a setback after its “armored glass” windows shattered during a demonstration. With a starting price of $39,900, the Cybertruck’s futuristic, angular body in gun-metal grapy resembles an armored vehicle and takes aim at the heart of Detroit automakers’ profits. Musk singled out the Ford F-150, the top-selling vehicle in the United States, to highlight the capabilities of the Cybertruck.
Following Tesla’s assertion that Autopilot ‘unequivocally makes the world safer’ and blaming last month’s fatal crash on a ‘crash attenuator’, the National Transportation Safety Board expressed their concerns with Tesla’s explanation. The NTSB said they are ‘unhappy with the release of investigative information by Tesla’ and are examining ‘all aspects’ of the crash including Autopilot.
Following his abrupt tweet last week about taking Tesla private, Elon Musk released a blog post on Monday saying conversations with the Saudi Public Investment Fund (PIF) left him ‘with no question’ about going private. Musk says deal talks continue. A deal would represent a bold move by Saudi Arabia in building a post-oil future.
Following recent crashes involving its electric cars and the departure of some high profile executives, Tesla is undergoing ‘thorough reorganization’ according to chief executive Elon Musk. The driver of a Tesla car involved in a recent accident claims the vehicle was on autopilot mode when it crashed. Tesla warns drivers ‘to be prepared to take action at any time’ in their vehicles.