Electric carmaker Tesla Inc has entered into an agreement for a working capital loan of up to 4 billion yuan (an equivalent of $565.51 million) with a lender from China for its Shanghai car plant, according to a regulatory filing on Friday. The loan, which will be provided by Industrial and Commercial Bank of China… Read More Tesla secures $565million loan for factory in Shanghai
Tesla Inc is planning to invest $5 billion to build a factory in China, Bloomberg reported on Wednesday, citing a source. Tesla is considering raising funds in China to finance at least a portion of the investment for the factory, the report said.
Electric car maker Tesla Inc’s move last week to cut 9 percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial $2.6 billion deal, according to three internal company documents and seven current and former Tesla solar employees. The latest cuts to the division that was… Read More Tesla to shut down twelve solar facilities in nine states
Tesla Inc has sued a former employee claiming that he hacked the electric carmaker’s trade secrets and transferred large amounts of company data to third parties, according to a lawsuit filed in federal court in Nevada on Wednesday. In its lawsuit Tesla claimed that Martin Tripp, who formerly worked at the Tesla Gigafactory in Nevada,… Read More Tesla files lawsuit against former employee Martin Tripp for allegedly hacking and transferring company data
Electric car maker Tesla Inc is cutting several thousand jobs across the company as it seeks to reduce costs and become profitable without endangering the critical production ramp-up for its Model 3 sedan. In an email he said had been sent to staff, billionaire Chief Executive Elon Musk said on Tuesday that the cuts were… Read More Tesla to retrench thousands of employees in cost reduction strategy
About 50,000 homes in South Australia will receive solar panels and Tesla batteries, the state government announced on Sunday, in a landmark plan to turn houses into a giant, interconnected power plant. South Australia is already home to world’s biggest battery in an Elon Musk-driven project to provide electricity for more than 30,000 homes. The… Read More Tesla to provide thousands of homes in South Australia with solar electricity
Luxury electric vehicle maker Tesla Inc. fired about 400 employees this week, including associates, team leaders and supervisors, a former employee said on Friday. The dismissals were a result of a company-wide annual review, Tesla said in an emailed statement, without confirming the number of employees leaving the company. “It’s about 400 people ranging… Read More Tesla fires hundreds of employees following annual review