Stories by Gary Ng

Should Tesla Rethink Its No-Advertising Strategy?

As Tesla faces slowing unit growth and implements price cuts that could potentially reduce its annual revenue by billions, investors are urging CEO Elon Musk to reconsider the company’s long-standing aversion to advertising. Major automakers like GM and Ford spend over $20 billion annually on media campaigns, while Tesla has traditionally relied on word-of-mouth and […]

SpaceX Performs First Static Fire of 33 Raptor Engines on Booster 7 [VIDEO]

SpaceX today performed its first static fire attempt of 33 Raptor engines on its Starship Booster 7, from Starbase in Boca Chica. The company announced yesterday it would be attempting a static fire today, and SpaceX did not disappoint. First static fire attempt of 33 Raptor engines on Booster 7 — SpaceX (@SpaceX) February […]

Tesla’s Major Shareholder Baillie Gifford Drastically Reduces Stake in Company

Scottish investment firm Baillie Gifford — formerly Tesla’s largest outside shareholder — has been forced to cut its stake in Tesla to less than 5% after the automaker’s soaring share price meant the Scottish asset manager was at risk of breaching concentration guidelines. The Edinburgh-based investment company said the recent rise in Tesla’s share price […]

Volkswagen Begins Production on ID.4 Electric SUV

Volkswagen announced today that it started production of its new ID.4 electric SUV at its Zwickau factory in Germany ahead of its official world premiere that’s scheduled for the end of September. In a Tuesday announcement largely surrounding questions about electric cars, VW quietly slotted in news about the ID.4 and said the vehicle will […]

Canada Announces Further Investment in British Columbia’s Electric Vehicle Network

This week, Canada’s Minister of Natural Resources announced a $380,000 CAD investment to help the Corporation District of the Summerland build 22 electric vehicle chargers as part of the government’s commitment to realizing a low-carbon future. Officials indicated six electric vehicle fast chargers and 16 level 2 EV chargers will be located at various public […]

SpaceX Raises $1.9 Billion in Funding According to SEC Filing

SpaceX, Elon Musk’s reusable rocket and satellite internet venture, has raised $1.9 billion USD in series N funding at a valuation of $46 billion, according to people familiar with the company’s fundraising activity. A new report from Reuters explains that the funding would help SpaceX begin commercial operations of its Starlink satellite broadband service and to […]

Tesla CEO Elon Musk Qualifies for Unprecedented $2.1 Billion USD Payout

Tesla CEO Elon Musk qualified for an unprecedented payout of $2.1 billion USD yesterday, his second bonus since May from the company following its incredible stock surge. A new report from Reuters notes that Tesla’s six-month average market capitalization officially surpassed $150 billion today, triggering the vesting of the second of 12 tranches of options granted to […]

$2,000 on Near-Term Horizon For Tesla Stock, Says Analyst

Tesla on Friday announced that its long-awaited and highly anticipated “Battery Day” will be held on September 22, the same day as its 2020 annual shareholder meeting, in its Fremont, California, factory, and such technology could see Tesla stock hitting the $2,000 USD mark, according to one analyst. The day will likely be “a major positive catalyst […]

Elon Musk Pushes Back Against German Court’s Ruling on Autopilot Terminology

A German judge has banned a Tesla ad for misleading messaging about its vehicles’ autonomous driving capabilities. According to a new report from TechCrunch, Tesla Germany is banned from repeating misleading claims in advertising about the capabilities of its driver assistance systems, including that its vehicles were capable of autonomous driving, a judge in Munich said on […]

Tesla Shares Hit New All-Time High Over Increased S&P 500 Speculation

Tesla stock is now on par with Google’s Alphabet and other companies that consistently post profits. Shares of Tesla surged as much as 16% Monday to $1,794.99 USD, a fresh all-time high for the automaker, as it announced a date for its upcoming Battery Day and speculation increased that it may soon be included in […]