DETROIT — Shares of Tesla rose a bout 1.5% in trading Thursday morning after the electric vehicle and solar panel maker said it would sell over $2 billion worth of additional shares. The sale takes advantage of the company's meteoric stock rise in the past eight months. It comes just...
Tesla CEO Musk Facing Defamation Trial for 'Pedo Guy' Tweet
LOS ANGELES — Elon Musk is going on trial Tuesday for his troublesome tweets in a defamation case pitting the billionaire against a British diver he allegedly branded a pedophile. The Tesla CEO will be called to testify early in the case in Los Angeles federal court to explain what...
Stainless Steel, Broken Glass and Buzz, Tesla Makes a Pickup
The much-hyped unveil of Tesla’s electric pickup truck went off script Thursday night when supposedly unbreakable window glass shattered twice when hit with a large metal ball. The failed stunt, which ranks high on the list of embarrassing auto industry rollouts, came just after CEO Elon Musk bragged about the...
SpaceX Launches 60 More Mini Satellites for Global Internet
CAPE CANAVERAL, Fla. — SpaceX launched 60 mini satellites Monday, the second batch of an orbiting network meant to provide global internet coverage. The Falcon rocket blasted into the morning sky, marking the unprecedented fourth flight of a booster for SpaceX. The compact flat-panel satellites — just 575 pounds each...
Tesla Heads Down New Road With Car Insurance in California
SAN FRANCISCO — Tesla owners in California can now buy insurance from the electric car company in what may be the first step toward the unconventional automaker providing coverage for a fleet of driverless taxis. The expansion announced this week comes four months after Tesla CEO Elon Musk told analysts the company...
Vegas Tourism Board Backs $49 Million Elon Musk Transit System
A company backed by tech billionaire Elon Musk has been granted a nearly $49 million contract to build a transit system using self-driving vehicles underneath the Las Vegas Convention Center. The board of directors of the Las Vegas Convention and Visitors Authority approved the contract Wednesday with The Boring Company,...
Tesla Raises Goal in Capital Hunt and Musk Doubles Down
DETROIT — Just one day after announcing plans to sell notes and stock to raise much-needed capital, Tesla boosted the size of its offering to as high as $2.7 billion on Friday. The Palo Alto, California, electric car and solar panel maker said it's increasing the offer due to the...
Tesla Posts Surprisingly Large 1Q Loss as Sales Slump 31%
SAN FRANCISCO — Tesla CEO Elon Musk had prepped Wall Street for a first quarter loss but analysts were still stunned by its size: $702.1 million, among the company's worst quarters in the past two years. The net loss was more than double what analysts had predicted as Tesla's sales...
Tesla Gears up for Fully Self-Driving Cars Amid Skepticism
SAN FRANCISCO — Tesla CEO Elon Musk appears poised to transform the company's electric cars into driverless vehicles in a risky bid to realize a bold vision that he has been floating for years. The technology required to make that quantum leap is scheduled to be shown off to Tesla...
Elon Musk Firm Pitched to Build Transit System in Las Vegas
LAS VEGAS — Entrepreneur Elon Musk's dream of an express tunnel transit system could finally become a reality in Las Vegas after major setbacks in other cities. Las Vegas' tourism agency announced Wednesday it is recommending that an enterprise backed by the divisive billionaire receive a contract to build and...