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Lawsuit to halt Elon Musk’s Twitter acquisition deal gets dismissed – Elon Musk - Elon Musk

Back in May, the Orlando Police Pension Fund, which holds Twitter shares, filed a lawsuit in an attempt to stop Tesla CEO Elon Musk’s efforts to acquire the social media company. This lawsuit was dismissed Friday, removing yet another hurdle to Musk and his potential Twitter buyout.  In its lawsuit, the Orlando Police Pension Fund accused Twitter, its Board of Directors, Elon Musk, and Morgan Stanley, which is advising Musk on the acquisition, of coming to an “agreement, arrangement or understanding” on the potential acquisition before the deal became public. It also accused Twitter’s Board of “breaching its fiduciary duty” in accepting Musk’s offer.  Prior to Musk’s announcement of his intentions to acquire Twitter and his subsequent deal with the company, Musk purchased shares of the social media platform over the course of several months. The Tesla CEO quietly acquired a 9.2% stake in Twitter, making him the company’s single largest shareholder.   As noted in...

Tesla “defective” door handle case dropped by South Korean police – Elon Musk - Elon Musk

Back in June 2021, South Korea’s Citizens United for Consumer Sovereignty pressed charges against Elon Musk and Tesla for allegedly violating the country’s Motor Vehicle Management Act. According to the group, the “hidden” door handles of Tesla’s electric cars are “defects” that create difficulties for users.  “Despite being previously aware of defects such as the Tesla Model X’s touch-based approach and the hidden pop-up method of the Model S creating difficulties for safe operation, (Tesla) has concealed them and failed to take any corrective action, while continuing to engage in unethical business activities, focusing solely on economic profits at the expense of consumers’ safety and lives,” the group claimed.  The case has now been dropped.  Following the Citizens United for Consumer Sovereignty’s complaint, the South Korean police launched an investigation into Tesla’s doors. As noted in a  Hani  report, the police eventually received details of Tesla’...

Tesla offers free Supercharging to encourage off-peak charging during travels for holidays – Elon Musk - Elon Musk

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Tesla is offering free Supercharging during off-peak hours at select locations during the 4th of July weekend to help with traffic during busy travel days. As we previously reported, Tesla has been having a hard time keeping up its charging infrastructure growth with its fleet growth over the last few years. Its deliveries are growing at a roughly 50% annual rate while its Supercharger is closer to a 30% annual growth rate. It is causing some stress on Tesla owners who are experiencing wait times to access a Sueprchager stall at some busy stations, especially during popular travel times like holidays. Over the last few years, Tesla has been implementing a solution to try to help by offering free or discounted charging during off-peak hours during high travel times. The automaker is bringing back the strategy for the fourth of July weekend this year. Tesla wrote on its website: Avoid the rush this Fourth of July holiday and charge for free during off-peak hours at Superchargers...

Mercedes-Benz China offers EQS rear-wheel steering upgrade for a yearly fee – Elon Musk - Elon Musk

Vehicle subscriptions will soon be the norm. Tesla, with its tech-focused vehicles, has been offering subscriptions for some time now in the form of Premium Connectivity and, more recently, a monthly Full Self-Driving suite service. Mercedes-Benz China is trying out something similar, but its subscription is a bit unique. As noted by the company in an announcement on its WeChat page, Mercedes-Benz is offering EQS owners in China a rear-wheel active steering system upgrade. The upgrade is pretty compelling, with the carmaker noting that the service will be available for entry-level EQS trims. With the upgrade in place, EQS drivers could increase their active rear-wheel steering angle from 4.5° to 10°, reducing the car’s turning diameter to 10.9 meters and making tasks like parking maneuvers easier. The only thing is that the upgrade is an annual subscription. As noted by the German automaker, the EQS rear-wheel active steering system upgrade would cost 4,998 yuan per year. That’s ...

How Tesla is managing as inflation hits the auto industry – Elon Musk - Elon Musk

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Posted on July 01, 2022 by Zachary Visconti As inflationary pressure has hit raw materials over the past few months, the auto industry has struggled to keep investors and consumers both happy. Electric vehicle maker Tesla hasn’t been immune to the effects of inflation either, and how it’s faring against other automakers is still yet to be determined.  Above: An electric car symbol painted on the ground. Photo: Michael Marais The U.S. consumer price index for new cars has risen by around 15 percent since 2021 began, and economists think outright sticker prices for new cars are up even more with new trims, driver-assistance systems and other upgrades, according to Barron’s . Car prices for Tesla are up around 30 percent for many of Tesla’s models and trims, weeks after CEO Elon Musk said the automaker has had a “tough quarter.” To put it into perspective, the average brand new car that’s $40,000 right now would have cost just $32,000 a year ago. Tesla’s Model 3 has ...

Tesla files to expand Gigafactory Texas with giant new building – Elon Musk - Elon Musk

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Tesla has filed with the city of Austin to expand Gigafactory Texas with a giant new 500,000-square-foot building at the site. Now Gigafactory Texas is already giant. It’s already one of the biggest buildings on Earth. The current building is equivalent to about 15 city blocks or three Pentagons as CEO Elon Musk said earlier this year. It offers just over 4 million square feet of space and fits about 338 million cubic feet of volume. But regardless of how big it is, Tesla still has plenty of room to expand at the location since the project currently sits on a 3.3-square-mile piece of land. This week, Tesla has filed a building permit to expand on that land with another extremely big building: In the description for the permit application, Tesla writes: “All above ground piping and underground plumbing, GA 2 and 3 expansion, 500,000 square foot.” A 500,000-square-foot new expansion would be a significant new building at the factory. “GA” normally refers to general assembl...

SpaceX wins FCC approval to connect Starlink satellites to moving vehicles – Elon Musk - Elon Musk

Eleven months after SpaceX submitted several applications, the FCC has given the company permission to connect moving vehicles to its constellation of Starlink internet satellites. The license means that all United States Starlink users will now be able to legally receive internet service from their Starlink user terminals (dishes) while in motion on any land, sea, or air-based vehicle. For the many consumer and enterprise customers already experimenting with mobile Starlink service or at least using SpaceX’s new RV roaming service, the ability to use Starlink in motion should add even more potential use-cases and benefits and generally expand the service’s viability and competitiveness Because Starlink’s performance – even when struggling – beats virtually all other satellite internet providers, the addition of in-motion use removes one of very few remaining reasons to continue using other service providers. While that applies more to enterprise and commercial users than individu...