Tesla will cut 7 percent of its workforce as it tries to lower prices and break out of the niche-car market to produce an electric vehicle that more people can afford. Tesla's cheapest model right now is the $44,000 Model 3, and it needs to broaden its customer base to...
Elon Musk to Unveil Underground Tunnel, Transport Cars
LOS ANGELES — Tech entrepreneur Elon Musk is set to unveil an underground transportation tunnel on Tuesday that could move people faster than subways. Musk also plans to show off the autonomous cars that will carry people through the test tunnel, which runs about 2 miles under the streets of...
Tesla Names New Board Chair in Settlement With Regulators
DETROIT — Tesla's board has named one of its own as chairman to replace Elon Musk, complying with terms of a fraud settlement with U.S. securities regulators. The electric car and solar panel company's board on Thursday named Australian telecommunications executive Robyn Denholm as chairman, effective immediately. Denholm will step...
New Tesla Chair Must Rein in CEO Musk at Key Moment
WASHINGTON — It won't be an easy job. Whoever becomes the new chairman of Tesla Motors will face the formidable task of reining in Elon Musk, the charismatic, visionary chief executive with an impulsive streak, while also helping Musk achieve his dream of turning Tesla into a profitable, mass-market producer...
Tesla Without Musk at the Wheel? That's What the SEC Wants
DETROIT — Tesla without Elon Musk at the wheel? To many of the electric car maker's customers and investors that would be unthinkable. But that's what government securities regulators now want to see. The Securities and Exchange Commission has asked a federal court to oust Musk as Tesla's chairman and...
Tesla Stock Falls as Musk Appears to Smoke Weed on This Video
Shares of electric car maker Tesla Inc. fell more than 6 percent early Friday after the CEO appeared to smoke marijuana during an interview and the company's accounting chief left after a month on the job. CEO Elon Musk appeared on "The Joe Rogan Experience" overnight. About two hours into...
Musk Says He’s Cracking Under Stress of Tesla Job
What do you do when your CEO confesses that he's cracking under the stress of his job? That's the question that the nine board members of electric car and solar panel maker Tesla Inc. must answer after Elon Musk, the company's impulsive leader, admitted to The New York Times that...
Musk Says He's Talking With Saudi Fund to Take Tesla Private
DETROIT — Saudi Arabia's sovereign wealth fund would be the main source of money for Tesla CEO Elon Musk's grand plan to take the company private, but the deal isn't done yet, Musk disclosed in a blog Monday. The fund approached Musk about going private multiple times during the past...
Tesla Burns $739.5 Million in Cash on Way to Record Loss
Electric car maker Tesla Inc. burned through $739.5 million in cash last quarter, paving the way to a company record $717.5 million net loss as it cranked out more electric cars. But CEO Elon Musk pledged to post net profits in future quarters, and on a conference call, he apologized...
Tesla Stock Skids on Reports It Asked Suppliers for Refunds
NEW YORK — Shares of Tesla tumbled Monday on reports that the company asked suppliers for refunds to help it turn a profit. A memo provided to The Wall Street Journal shows the electric car maker asked a supplier to return what it calls a meaningful amount of money on...