The Elon Musk Thread

[wjfox]

Elon Musk warns Tesla workers they'll be sleeping on the production line to build its new mass-market EV

Tom Carter Jan 25, 2024

Elon Musk warned Tesla workers to prepare for a challenging production ramp-up as he previewed plans to build a mass-market vehicle.

The Tesla CEO said on the company's Wednesday earnings call that building Tesla's next-generation EV, set to enter production in 2025, will require Tesla workers to live and sleep on the manufacturing line at the company's Texas factory.

"We really need the engineers to be living on the line. This is not sort of an off-the-shelf 'it-just-works' type of thing," Musk told investors.

"That will be a challenging production ramp," Musk said. "We'll be sleeping on the line, practically. Not practically, we will be."

https://www.businessinsider.com/elon-mu ... &r=US&IR=T

[caltrek]

After Dour Earnings Call, Tesla Share Plunge Wipes Out $80 Billion in Market Value
by Anna Coonan
January 26, 2024

Introduction:

London (CNN) — Shares in Tesla plunged 12% Thursday, wiping $80 billion off the company’s market value hours after it warned of slowing growth in electric car sales and an existential threat from Chinese rivals.

Tesla’s stock suffered its worst day in 21 months and closed at its lowest level since December 2022. Since the start of 2024, the company’s market capitalization has fallen by $210 billion.

In an earnings presentation Wednesday, the world’s most valuable automaker said its sales growth this year “may be notably lower” than last as it continued developing the “next-generation” vehicle, likely a lower-priced model.

While it reported a sizeable 38% increase in deliveries last year compared with 2022, Tesla had previously targeted a 50% annual growth rate averaged over several years.

Tesla’s (TSLA) financial results for the last quarter also disappointed, with adjusted earnings per share down 40% from a year earlier, and revenue, which rose 3% to top $25 billion, coming in below market forecasts.

Read more here: https://www.cnn.com/2024/01/25/investi ... ndex.html

[weatheriscool]

[wjfox]

[wjfox]

My Dad's latest blog:



Emperor Elon's ever-growing influence: from brain cells to Mars

31st January, 2024

Elon Musk doesn't often lose, so the Delaware court's cancellation yesterday of the 52-year-old's $55.8bn (£44bn) pay deal, awarded to him in 2018 by electric car company Tesla, must have triggered unusual emotions, especially as his total fortune is estimated at "only" just over $210bn. But has his rise and rise ended? Will he, like Icarus, finally fall to earth?

I doubt it.

https://www.foxmedia.co.uk/elonmusk.htm

[firestar464]

I thought that was Fox News in the UK

[wjfox]

[firestar464]

More on that by Bloomberg:

https://www.bloomberg.com/news/articles ... me-to-this

https://archive.is/GjXDu

[wjfox]

Tesla lays off more than 10% of its workforce

2 hours ago

Tesla will lay off more than 10% of its global electric vehicle workforce.

In a memo, first reported by news website Electrek, billionaire owner Elon Musk told staff there was nothing he hated more, "but it must be done".

The world's largest auto-maker by market value had 140,473 employees globally as of December, according to its latest annual report.

Tesla did not immediately respond to the BBC's request for comment.

"We have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10% globally," said the email from Mr Musk.

https://www.bbc.co.uk/news/technology-68818113

[Time_Traveller]

Tesla lays off more than 10% of its workforce

2 hours ago

Tesla will lay off more than 10% of its global electric vehicle workforce.

In a memo, first reported by news website Electrek, billionaire owner Elon Musk told staff there was nothing he hated more, "but it must be done".

The world's largest auto-maker by market value had 140,473 employees globally as of December, according to its latest annual report.

Tesla did not immediately respond to the BBC's request for comment.

"We have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10% globally," said the email from Mr Musk.

https://www.bbc.co.uk/news/technology-68818113

More on this:-

Tesla pushes for $56bn pay deal for Elon Musk

1 hour ago

Tesla is again seeking to award boss Elon Musk the biggest pay deal in corporate American history, worth $56bn (£44.9bn).

The electrical vehicle (EV) company is asking shareholders to vote on its chief executive's record-breaking pay that was set in 2018.

However, the deal was rejected by a US judge in January who described it as "an unfathomable sum".

It comes just days after Musk announced plans to cut more than 10% of its global workforce.

In a memo issued to staff Musk said there was nothing he hated more, "but it must be done".

https://www.bbc.co.uk/news/articles/cqqndqndpq5o

Its a bit of a slap in the face to its workforce, if they do accept this deal.

[firestar464]

strike time

[caltrek]

Wall Street Is Souring on Tesla's Pivot Away from Low-cost Vehicles Towards Autonomous Driving
by Matthew Fox
April 18, 2024

Introduction:

(Market Insider) Another day, another negative Tesla note from Wall Street.

Tesla has come under intense scrutiny from sell-side analysts after a Reuters report from earlier this month said that the EV maker was shifting away from its low-cost Model 2 vehicle to instead focus on building a fully-autonomous robotaxi.

Deutsche Bank downgrades Tesla

Deutsche Bank analyst Emmanuel Rosner is not impressed with the potential pivot, calling it "thesis-changing" for investors in a note on Thursday.

Rosner downgraded Tesla stock to "Hold" from "Buy" and cut its price target to $123 from $189, suggesting potential downside of about 19% from current levels.

"Pushing out Model 2 will create significant earnings and FCF pressure on 2026+ estimates, and make the future of the company tied to Tesla cracking the code on full driverless autonomy, which represents a significant technological, regulatory and operational challenge," Rosner said.

Read more here: https://markets.businessinsider.com/ne ... t-2024-4

Edit:

(The Economc Times) Tesla shares fell to their lowest in more than a year on Thursday (April 18, 2024) after Deutsche Bank raised concerns over the electric automaker's increasing focus on its autonomous vehicle products when profit is under pressure.

The Elon Musk-led company's shares fell 2.7% to $151.26 after the brokerage downgraded the stock to "Hold" and cut its price target to $123 from $189..

Read more at:
https://economictimes.indiatimes.com/ma ... ign=cppst

[caltrek]

Safety Regulator Probing Whether Tesla’s Recall of 2 Million Vehicles with Autopilot was Adequate to Fix Safety Threat
by Chris Isidore
April 26, 2024

Introduction:

New York (CNN) — Federal safety regulators said they are investigating whether Tesla’s massive recall in December of essentially all of its vehicles on US roads was sufficient to fix the safety threat posed by its “Autopilot” feature.

The recall of 2 million Tesla vehicles was ordered by the National Highway Traffic Safety Administration over a software update that is designed to limit the use of its Autopilot feature. The NHTSA had said in December that the two-year probe of roughly 1,000 crashes in which the feature was engaged found it gave drivers a false sense of security and could be easily misused in certain dangerous situations when the technology may be unable to safely navigate the road.

The NHTSA said late Thursday that Tesla’s software update recall requires the owner to opt in and allows a driver to readily reverse it. The NHTSA said it is “therefore opening this recall query investigation to further evaluate the adequacy of the remedy.”

This latest probe is a blow to Tesla and CEO Elon Musk’s efforts to market the cars as effectively able to drive themselves, a luxury feature that makes the vehicles and the company more valuable. Earlier this week, Musk claimed the company would soon unveil plans for a fleet of “robotaxis,” a service that would give Tesla owners the option to earn money by having their vehicles provide driverless taxi rides when the owners aren’t using them.

Tesla and Musk have claimed that cars using Autopilot features — which are available on virtually all Teslas, as well as the more robust “Full Self Driving” feature that comes at a premium price — are safer than human drivers. But NHTSA said its investigation identified at least 13 crashes involving one or more fatalities and many more involving serious injuries in which “foreseeable driver misuse” of the system played an apparent role.

Read more here: https://www.cnn.com/2024/04/26/busines ... dex.html

[wjfox]

Elon Musk Is Fighting With Meta’s Chief AI Scientist

Published Tuesday 12:10PM

Say what you will about X, but it’s still the best place to watch powerful people slam each other on social media. Elon Musk walked into an unsuspecting Twitter beef this holiday weekend with none other than Meta’s Chief AI Scientist Yann LeCun, who used the platform against the billionaire that owns it.

https://gizmodo.com/elon-musk-x-fights- ... 1851503853

[Powers]

[weatheriscool]

[firestar464]

spoiled brat

[weatheriscool]

[firestar464]

Ex-employees sue Elon Musk and SpaceX, claiming illegal firings after they called out alleged gender bias and harassment

https://edition.cnn.com/2024/06/12/tech ... index.html

[firestar464]

Elon Musk's Starlink satellites could burn up the ozone layer, scientists warn

https://www.businessinsider.com/elon-mu ... udy-2024-6