MEXICO CITY—Mexico’s president announced Tuesday that electric car company Tesla has committed to building a major plant in the industrial hub of Monterrey in northern Mexico. President Andrés Manuel López Obrador said the promise came in phone calls he had Friday and Monday with Tesla head Elon Musk. It would be Tesla’s third plant outside…
Elon Musk Regains Title of World’s Richest Person as Tesla Shares Rebound
Elon Musk has reclaimed his position as the world’s richest man as the Tesla CEO’s net worth reached an estimated $187 billion this week, according to data tracked by Bloomberg Billionaires Index. In mid-December, Musk lost his top rank to French business magnate Bernard Arnault, chief executive of luxury brand Louis Vuitton’s parent company LVMH,…
Tesla Requests $330 Million-Plus in Additional Nevada Tax Breaks
RENO, Nev.—Tesla may receive over $300 million in tax abatements over the next two decades for a massive new expansion of its northern Nevada facility, the product of a 2014 deal for when the company first came to the area on the promise of new jobs and major investments in the area. The long-awaited sum—kept…
Tesla’s German Plant Hits 4,000 Cars per Week Ahead of Schedule
BERLIN—Tesla’s German plant in Brandenburg near Berlin is now producing 4,000 cars per week, the company said on Monday, quadrupling from May when Chief Executive Elon Musk had compared investment in Tesla’s new plants to “gigantic money furnaces.” The Berlin plant hit the production target three weeks ahead of a production schedule reviewed by Reuters….
Tesla Scales Back German Battery Plans, Won Over by US Incentives
BERLIN—Tesla Inc. has begun assembling batteries in Germany but will focus cell production in the United States in light of Inflation Reduction Act incentives, the company said, making it one of the first firms to declare a strategy shift prompted by the package. The U.S. electric-vehicle maker is also preparing to produce cell components such…
Tesla Moves Global Engineering Headquarters to California
Electric vehicle maker Tesla is establishing its global engineering headquarters in California, CEO Elon Musk announced on Feb. 22. In a joint press conference with California governor Gavin Newsom, Musk said the new engineering headquarters will be at the former offices of Hewlett-Packard in Palo Alto. Musk called the move “a poetic transition from the company that founded…
US Regulator Seeks More Information on Tesla Crash in California
The United States National Highway Traffic Safety Administration (NHTSA) said on Monday it has asked Tesla Inc. for additional information after one of its vehicles collided with a fire truck in California. The Contra Costa County fire department said in a tweet on Saturday that a Tesla car struck one of its fire trucks and…
Mexico President Flags Water-Scarcity of Northern State Eyed for Tesla Plant
MEXICO CITY—Mexico’s president said on Monday the northern Mexican state of Nuevo Leon, considered the front-runner to land a major investment from Tesla Inc., struggles with a lack of water and touted the benefits of the poorer southern region where he has fought to boost development. The state of Nuevo Leon at the U.S. border…
Tesla Driver Killed After Plowing Into Firetruck on Freeway
WALNUT CREEK, Calif.—A Tesla driver was killed and a passenger was critically injured Saturday when the car plowed into a fire truck that was parked on a Northern California freeway to shield a crew clearing another accident, fire officials said. Four firefighters who were in the truck when it was struck on Interstate 680 were…
Tesla Says It Laid Off 4 Percent New York Employees Before Union Campaign
Tesla Inc. said on Wednesday it laid off 4 percent of the employees in the Autopilot labeling team in Buffalo as part of a performance review cycle conducted every six months. The automaker responded to a union complaint filed with a government agency alleging that the company laid off dozens of employees from its Autopilot…
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