Share This Story! Let friends in your social network know what you are reading about Facebook Email Twitter Google+ LinkedIn Pinterest Elon Musk shakes up Tesla as another Model S faces crash queries Teslo CEO Elon Musk's memo to employees on management changes comes as investigators probe the latest crash, of a Model S in Utah over the weekend. Sent! A link has been sent to your friend's email address. Posted! A link has been posted to your Facebook feed. 1 Join the Conversation To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Marco della Cava, USA TODAY Published 4:35 a.m. ChT May 15, 2018 | Updated 7:10 a.m. ChT May 15, 2018 CLOSE The National Transportation Safety Board is investigating a crash and fire involving a Telsa Model S car. Two teens died in Fort Lauderdale, Florida crash on Tuesday. The probe is not expected to involve Tesla's semi-autonomous Autopilot system. (May 11) AP … [Read more...] about Elon Musk shakes up Tesla as another Model S faces crash queries
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An activist firm representing Tesla Inc. shareholders has excoriated the electric-car maker, claiming that it’s veered off the path to profit and urging a major overhaul of the Elon Musk-led board.CtW Investment Group, working with union pension funds that are Tesla investors managing more than $250 billion, opposes the re-election of three board members who are up for votes during Tesla’s June 5 annual meeting. The firm calls for shareholders to cast ballots against Antonio Gracias, a private-equity investor and Tesla’s lead independent director; Kimbal Musk, Elon’s brother; and James Murdoch, CEO of Twenty-First Century Fox Inc.“Tesla has failed to hit critical production milestones and has consequently seen its past progress toward profitability sharply reverse,” Dieter Waizenegger, CtW’s executive director, writes in a letter the firm plans to file Wednesday with the Securities and Exchange Commission. “But instead of recognizing the … [Read more...] about Tesla Urged to ‘Raise Its Game’
The world's premier electric vehicle maker burns through more than $6,500 every single minute, according to data collected by Bloomberg, which even added an online calculator on its website. Free cash flow, namely the net result of actual cash received and paid during a company's operations, has been negative for five consecutive quarters, with the total debt amounting to $9.4 billion. And for now, the 15-year-old company reportedly doesn’t seem to have a sufficient amount of cash to make it through the calendar year. READ MORE: "I'll Build My Own Mechagodzilla…:" Elon Musk Says He's Building Cyborg Dragon Detailing the company’s stock exchange indicators, John Thompson, CEO of Vilas Capital, expects Tesla’s stock to crash within six months, and this, according to him, could trigger bankruptcy because the company basically relies on the capital markets … [Read more...] about Guess How Much Cash Musk’s Tesla Burns Per Minute?
As carmakers race to sell glitzy new models to wealthy Chinese, the old-fashioned golf cart is the hottest buy in one corner of Hong Kong, with prices topping those of a Tesla Model S and Porsche’s Boxster sports cars.On the two-lane streets of Discovery Bay — a residential development about a 30-minute ferry ride from downtown Hong Kong — the golf carts are both the transportation of choice and an investment play for the wealthy. The buggies can sell for more than HK$2 million ($255,000) in the upscale neighborhood that’s home to airline pilots, bankers and lawyers.Business executives drive them, expatriates love them and nannies ferry kids to school in them. Private passenger cars aren’t allowed in this neighborhood, and the Transport Department has capped golf-cart licenses at about 500. The supply crunch has transformed these slow gas-guzzlers into luxury transportation. Some buyers view them as investments — renting them out or reselling to make … [Read more...] about These Golf Carts Are Pricier Than a Tesla or Porsche
Volvo is clearly on a roll, producing one of the best large SUVs (XC90) and now clinching the European Car of the Year title with the small XC40. We’re trying the mid-size XC60 to see whether its Swedish style is more than skin deep. Our car: Volvo XC60 D5 PowerPulse AWD R-design List price when new: £43,505 Price as tested: £53,580 Official fuel economy: 54.1mpg (EU Combined) Read more long-term tests May 15th, 2018 Fuel economy this week: 37.6mpg On the left is the XC40 – European Car of the Year. The vehicle on the right is the XC60 – World Car of the Year. What’s the difference between them? A mighty leap of just over 10 inches. And that’s about all really. You might notice the XC40’s shorter dimensions require a more upright, bullish front end but these two cars are otherwise peas in a pod. The driving experience, comfort and all-round ability of both models are exceptional. No wonder Volvo is … [Read more...] about Volvo XC60 – long-term test: the ultimate middle-class car?