Elon Musk's 'Teslaquila' drink clashes with Mexican tequila industry
- One of the world's richest people and chief executive of Tesla, Musk is known for ambitious and cutting-edge projects ranging from auto electrification and rocket-building to high-speed transit tunnels.
- Now it seems that Musk could be setting his sights on disrupting the multibillion-dollar tequila industry.
- According to the US Patent and Trademark Office website, Tesla has filed an application to trademark "Teslaquila" as a "distilled agave liquor" and "distilled blue agave liquor." Similar applications have been filed in Mexico, the European Union and Jamaica.
- Other high-profile celebrities have cashed in on tequila's new-found international appeal, as the sprit moves into the ranks of top-shelf liquors and sheds its image as a fiery booze drunk by desperadoes and frat boys.
- Last year, Diageo Plc bought actor George Clooney's high-end tequila brand Casamigos for up to $1 billion.
- Other recent deals in the industry include Bacardi Ltd's January deal to buy fine tequila maker Patron Spirits International for $5.1 billion.
A look inside Tesla's Gigafactory: The key to the automakers' success
- Much of that growth is due to its latest vehicle, the Model 3, a sedan targeted to a broader audience than Tesla's previous cars.
- Last quarter, as Tesla hit its target of producing more than 5,000 Model 3 cars per week, the company posted a profit.
- Easing that pressure and keeping Tesla profitable will come down to a few key factors, most notably, growing sales and lowering the cost to build battery packs.
- Jaffe studies the electric vehicle market, specifically focusing on the costs to build the battery packs and cells that provide the energy inside those packs.
- Jaffe's analysis pegs Tesla's cost to manufacture a battery cell at $116 per kilowatt-hour, which he says is "far ahead of the industry." He estimates other automakers building electric vehicles have battery cell costs closer to $146 per kilowatt-hour.
Faraday Future: the rise and fall of the electric car startup
- In reality, the mysterious company turned out to be Faraday Future, an automotive startup funded by Chinese billionaire (and LeEco founder) Jia Yueting.
- It announced plans to build a $1 billion factory in the Nevada desert, and it promised that its cars would create a “third internet living space” when they eventually hit the road.
- Building a car company from scratch isn’t easy — just look at how much effort it took to get Tesla to where it is today — and by all accounts, Jia didn’t make it any easier for Faraday Future.
- What began as a story about an American automotive startup has turned into one about a troubled company with many ties to China, which deepened as Faraday Future came up against its biggest crisis yet.
Tesla scaling up rollout in Europe and Asia
- Tesla sent out invitations to reservation holders living in Germany, France, Sweden, Norway, Italy, and Belgium.
- A significant number of Tesla cars will be made for Europe and Asia in the first quarter of 2019.
- In Asia, the Tesla Model 3 is being exhibited in Hong Kong, China, and Japan.
Elon Musk has tried to help fix these 8 humanitarian crises — here's how he's doing so far
- During the mission to save 12 boys and their soccer coach from a flooded cave in Thailand, Musk gathered engineers from Tesla, SpaceX and the Boring Company to create a "kid-size" submarine using rocket parts.
- Through The Boring Company, Musk is seeking to connect LA's densest neighborhoods with an underground "Loop" system that could carry passengers — and even cars — up to 150 miles-per-hour, cutting travel times across the city, and reducing traffic-caused pollution in the process.
- After Hurricane Maria knocked out power for Puerto Rico's 3.5 million residents in September 2017 and left them without basic resources like running water, Tesla pledged to help install battery packs and repair solar panels on the island.
- On Friday, Musk tweeted that Tesla cars have "hospital grade HEPA filters" and could help transport people in affected areas.
Tesla, GM and Nissan are all part of a new coalition aiming to extend the EV tax credit
- Tesla, GM and Nissan are among a group of 15 companies that launched a new coalition aimed at reforming the electric vehicle tax credit.
- The group, called EV Drive Coalition, brings together a mix of automakers, industry giant ABB, climate change and energy lobbying organizations and EV infrastructure companies, including ChargePoint.
- The federal electric vehicle tax credit gives consumers a $7,500 credit when they buy an all-electric vehicle.
- The incentive has been credited with spurring adoption of EVs. However, once an automaker has sold 200,000 electric vehicles, the credit begins to wind down.
- The achievement activated a countdown for the $7,500 federal tax credit offered to consumers who buy new electric vehicles.
- The EV Drive Coalition wants to lift the current cap on the number of consumers who can take advantage of the credit through each manufacturer.
One of Tesla's top lawyers has left the company: Report
- One of Tesla's most senior lawyers has left the automaker, Bloomberg reports.
- Phil Rothenberg, who was a vice president in Tesla's legal department, reportedly started a new position as the general counsel at the hospitality startup Sonder on November 5.
- Rothenberg had previously worked at the Securities and Exchange Commission (SEC), according to his LinkedIn page.
- As part of a settlement with Tesla CEO Elon Musk, the SEC had required the automaker to have a lawyer with experience in securities on staff to monitor social media posts made by senior officers.
- The SEC had sued Musk for allegedly making "false and misleading statements" via Twitter in August about the possibility of taking Tesla private.
- According to Rothenberg's LinkedIn page, he started working for Tesla in 2011 as an associate general counsel.
- Since the beginning of September, Tesla has lost senior employees in its communications, finance, human resources, and automotive departments.
Tesla air filters beat california wildfire air pollution
- Tesla cars have air filtration systems similar to systems used in hospitals, clean rooms, and the space industry.
- They developed a HEPA filtration system capable of stripping the outside air of pollen, bacteria, and pollution before they enter the cabin and systematically scrubbing the air inside the cabin to eliminate any trace of these particles.
- The end result is a filtration system hundreds of times more efficient than standard automotive filters, capable of providing the driver and her passengers with the best possible cabin air quality no matter what is happening in the environment around them.
- To qualify as HEPA by industry standards, an air filter must remove (from the air that passes through) 99.97% of particles that have a size greater-than-or-equal-to 0.3 microns.
- In other words, Bioweapon Defense Mode is not a marketing statement, it is real.
Elon Musk: The Recode interview
- But he says not all Saudis are the same.
- Musk talks about his "excruciating" 2018, fighting with journalists on Twitter, why Tesla won’t build an electric scooter and much more.
- Earlier this year, Musk was working 120-hour weeks to ramp up production of Tesla’s Model 3.
- Now he’s back to a "manageable" 80-90.
Giant tech firms like Uber and Tesla are lapping up junk debt, here's why investors are lining up to lend it
- Uber issued a $2 billion junk bond deal last month, despite rapid cash burn and growing competition.
- On the whole, investors tend to steer clear of companies that are highly leveraged or have far from robust credit metrics, says Christian Hoffmann, a portfolio manager at Thornburg Investment Management.
- Tesla's high leverage and cash burning activities have given some investors cause for concern because the company will eventually need some way of paying it off, and it's not clear it will be that easy.
- Its $2 billion bond deal last month was compared to deals by WeWork and Tesla, because of the company's rapid cash burn as competition heats up with rival ride hailer Lyft.
- But the $1.6 trillion market is hot nonetheless: Responding to strong demand, Uber also raised a $1.5 billion leveraged loan directly from investors in March, a higher amount than the company had originally planned.