Elon Musk Lines up Legal and Financial Advisors to Help Him Take Tesla Private
Surprisingly, Goldman Sachs makes the cut.
Tesla CEO Elon Musk announced via twitter few hours ago that he has a legal and financial team in place to assist his take private bid.
He said, “I’m excited to work with Silver Lake and Goldman Sachs as financial advisors, plus Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors, on the proposal to take Tesla private. Read More
Minor injuries reported after Model S crashes at 190kmh/118mph in Germany A95.
Tesla accident at Höhenrain: A woman from Munich has lost control of her vehicle on the A95. The highway resembled a debris field afterwards.
Höhenrain – A 42-year-old girl from Munich lost control of her black Tesla Model S on the A95 on Sunday afternoon. She was heading for Garmisch at 180 to 190 kilometers per hour at 15.58. Shortly before the Rastanlage Höhenrain drove on the right lane a 69-year-old man from Gummersbach with his BMW 5 Series. Read More
(Translated German text using Google. So…)
Morgan Stanley: Elon Musk’s SpaceX stake can be used to fund Tesla Buyout
Elon explained in his blog that Saudi’s Sovereign fund has been in discussions with the entrepreneur over the last two years for a possible take private move. Elon Musk now owns nearly 20% of Tesla, large institutions hold another 64% and the rest is with retail investors.
Assuming that 80% of current investors including Elon decide to roll their stake over to Private Tesla, the other 20% needs to be bought out. Given a choice, Elon will do what ever he can to remain the single largest shareholder in Tesla, which means the odds are quite high for Elon Musk to spend some dollars to increase his stake. Read More
Tesla Model 3 Pre-order Customers in Australia and NZ to Get First-hand Glimpse
Two days from now, on August 15, 2018, more than two years after they plunked down $1,500 towards a Tesla Model 3 reservation, New Zealanders will get their first at-home, first-hand glimpse of the EV that is turning the global electric vehicle market upside down. Their neighbors, the Aussies, will get that privilege a few days later, starting August 21. Read More
NIO, potential Tesla rival from China, files for $1.8 billion U.S. IPO
NIO Inc. NIO, +15.38% a Chinese startup developing premium all-electric cars, filed for an initial public offering for American depository shares Monday. NIO named a target raise of $1.8 billion, though the target listed on a first filing is typically an estimate used to determine expected fees and is updated with a more solid number in subsequent filings.
Reports from earlier this year suggested that NIO had secretly filed for an IPO and was hoping to raise up to $2 billion. The company just began showing revenue this year, reporting $6.7 million in vehicle sales and $7 million in total revenue in the first six months of 2018, when it lost more than $500 million. Read More
Tesla Talk: Autopilot, ADAS and Real Autonomous Capability
If you want to look at how something is going to grow in the future, it often helps if you look at its evolutionary past. Sometimes, it even helps to look at how things are now. In the realm of self-driving technology, things don’t appear to be that way.
ADS is what Google’s Waymo and Tesla’s Autopilot are trying to achieve. ADAS was the previous generation. The problem is, there’s no filial affection from one to the other. ADS has no fatherly or motherly love for ADAS because the older generation of semi-automated driving systems is meant to help the driver, not replace her. Read More
EV Adoption Continues to Surge in United States. Tesla Model 3 Sales is a Trigger
“A rapid adoption of electric vehicles could cause world oil demand to reach a plateau in the second half of the 2030s”, The Organization of the Petroleum Exporting Countries (OPEC) said in 2017 World Oil Outlook Report.
And adoption is taking place at a furious pace around the world.
EV adoption in United States has lagged many countries for the past several years. Blame any number of factors – Confused government policies, range anxiety, lack of charging network, fear of new technology and what not. The US is still counting EV sales with its fingers, Period. Read more
