Elon Musk acknowledged Sunday that Tesla, at its current production rate, would “lose money and die” if it sold Model 3 mass-market sedans at the promised price of $35,000. Despite Tesla’s Model 3 website still stating that it “achieves 220 miles of range while starting at only $35,000 before incentives;” CEO Elon Musk took to Twitter to acknowledge that the company would go bankrupt if it tried to ship starting price units before reaching a minimum production rate above 5,000 units per week. … [Read more...] about Musk: Tesla Selling $35K Model 3 Would ‘Lose Money and Die’
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Mr Musk’s vision for the underground tunnels is not the same as another of his transportation concepts known as hyperloop. That would involve a network of nearly airless tubes that would speed special capsules over long distances at up to 750 mph, using a thin cushion of air, magnetism and solar power. … [Read more...] about Elon Musk offers rides to VIPs as he unveils underground tunnels
In February 2017, the company began digging a 30-foot-wide, 50-foot-long and 15-foot-deep testing trench on the premises of SpaceX's offices in Hawthorne, California, as construction on the firm’s own site would not require any permits. … [Read more...] about The Boring Company – what does Elon Musk’s tunnelling company do, why do they sell flamethrowers and where to get a hat?
(Reuters) - Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Thursday criticized active fund managers, bankers and even Elon Musk as he urged investors to court simplicity and temper expectations for future returns.Munger, 95, often provoked laughter as he fielded questions at the annual meeting of Daily Journal Corp, the Los Angeles newspaper publishing company he chairs, though he is better known for his four decades as a Berkshire vice chairman. … [Read more...] about Charlie Munger targets active managers, Elon Musk; praises China
Elon Musk's track record for technological feats as chief of SpaceX has turned skeptics into believers in everything from his quest to open space travel to Mars to his desire to build a tunnel for high-speed travel between New York and Washington. As Tesla's CEO, his ambitious vision for electric cars has also earned him a faithful following. … [Read more...] about As Tesla Fights to Make Profit, Wall Street Has Concerns