Author: Anan Ashraf

[ad_1] Tesla Inc TSLA CEO Elon Musk said on Wednesday that the rest of the auto industry is yet to catch up to Tesla from over ten years ago.What Happened: “That was a long time ago and the rest of industry still hasn’t caught up!” Musk said. The CEO was responding to a fan who posted a clip of the company’s shareholder letter from the third quarter of 2012. “Tesla’s Q3 2012 shareholder letter was a BIG SWINGING…brain moment,” the user wrote. Over a year after it officially launched the Model S in June 2012, Tesla delivered over 250 Model…

[ad_1] Sen. Ted Cruz (R- Texas) visited SpaceX’s Starbase and shared his thoughts in a post on Wednesday.What Happened: “I’m excited about SpaceX’s important work—particularly their goal of returning Americans to the moon for the first time in more than 50 years,” Cruz said. The senator from Texas added that he is proud that the work is being done in Texas.”I enjoyed meeting with SpaceX leaders today to better understand their efforts to explore space, the challenges they face, and how Congress can help,” Cruz said. Cruz is entrusted by other Republican colleagues to lead on issues pertaining to space and…

[ad_1] by Anan Ashraf, Benzinga Editor August 9, 2023 5:23 AM | 2 min read Chinese EV startup Li Auto‘s LI CEO said on Tuesday that it is confident of ousting legacy German automakers like Mercedes-Benz and BMW to be the top selling luxury brand in China. What Happened: “We’re very confident that we will be able to challenge the leadership position of Mercedes, BMW and Audi in China, meaning that we’ll exceed their sales in China and become the top-selling luxury brand in China,” CEO Xiang Li said during the company’s second-quarter earnings call on Tuesday. The CEO was…

[ad_1] EV manufacturer Rivian Automotive RIVN provided insights into the numerical breakdown of R1 vehicle production during the second quarter and outlined its upcoming production strategy.What Happened: During the second quarter, CEO R.J. Scaringe revealed that the majority of R1 vehicles produced by the company were R1S models. This marks a shift from the previous trend, where the R1T, priced slightly below the R1S, had been responsible for the majority of vehicles produced each quarter.The pattern will continue for the next quarter or two to address the “really long” backlog and the biggest customer complaint of wait time associated with…

[ad_1] EV maker Rivian Automotive RIVN on Tuesday revealed details of its collaboration with Tesla Inc TSLA on charging infrastructure during the company’s second-quarter earnings call. What Happened: “So it’s a charging relationship whereby our customers will access the network and ultimately pay for the charging, and that will flow from us through to Tesla,” CEO RJ Scaringe said, while clarifying that there is no data transfer built into the relationship. This is the first time any of the companies that joined Tesla’s charging network have spoken about paying for the service. The access to Tesla’s North American Charging Standard…

[ad_1] Lucid Motors LCID on Tuesday revealed the final specifications of its upcoming limited-production Air Sapphire.What Happened: The Sapphire can achieve 0-60 mph in 1.89 seconds, 0-100 mph in 3.84 seconds, and the quarter mile in 8.95 seconds. It has a top speed of 205 mph and can deliver both 1,234 hp and an EPA-estimated range of 427 miles on a single charge, Lucid said in a statement.The Sapphire also features three motors, four driving modes, carbon-ceramic brakes, a special aerodynamic package, sports seats, and track-tuned suspension.The final specifications revealed show the car achieved everything that Lucid initially promised. In fact, it…

[ad_1] Tesla TSLA, SpaceX CEO Elon Musk said on Tuesday that he will look into shipping costs of goods from the Tesla store for overseas customers.What Happened: “Will inquire,” Musk wrote in response to an X.com user who urged him to have a stock of items from Tesla and SpaceX stores in Europe. The user, who lives in France, wrote in a post that there are plenty of items they would like to purchase from these stores but don’t owing to the high shipping costs. “Would it not be possible to have a stock in Europe please? An empty hangar in the…

[ad_1] Lucid Motors CEO LCID Peter Rawlinson on. Monday talked about why the luxury EV maker lowered vehicle prices and their future pricing plan during the second-quarter earnings call.What Happened: Rawlinson mentioned Lucid received positive feedback about the recent price drop but didn’t say which versions had the strongest orders.Responding to a question on the company’s future pricing strategy, the CEO said, “Well, I think we want to make the car competitively priced to make it a super compelling proposition which I think it is now.” The CEO also highlighted the importance of getting more vehicles on the roads in order to build customer…

[ad_1] Chinese EV maker Nio Inc NIO has reportedly denied market rumors of a partnership with German automaker Mercedes-Benz. What Happened: A Nio spokesperson denied market rumors of a partnership between the two companies that circulated after a video showed CEO William Li taking several foreigners on a tour of a battery swap station, reported CnEVPost. “It’s false information,” the spokesperson was quoted as saying by CnEVPost.The fresh rumors come on the heels of German automaker Volkswagen AG announcing a partnership with Chinese EV startup XPeng while Audi, its premium subsidiary, plans to join forces with SAIC.Why It Matters: Rumors of a potential Nio-Mercedes…

[ad_1] A group from Ford Motor Co F, led by CEO Jim Farley, is currently embarking on a road trip across the American West in an F-150 Lightning electric pickup. What Happened: The journey, commencing in Silicon Valley, is set to cover Los Angeles, Route 66, and Las Vegas. Utilizing charging infrastructure throughout the route, the team will engage with various stakeholders, including researchers, businesses, dealers, salespeople, EV conversion shops, EV drivers, and communities, Farley said in a LinkedIn post on Monday.“There are things you can’t learn in an office or from a PowerPoint,” Farley said. The CEO also reminisced his younger days when he drove around the…