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Full Title: Could Elon Musk save the jobs of GM workers? Tesla founder 'would be interested' in taking over General Motors' idled factories Elon Musk is eyeing General Motors' once-occupied plants. The billionaire tech mogul said it's 'possible that [Tesla] would be open' to taking over automakers' old plants, such as the five factories closed by GM last month. The comments came during Musk's wide-ranging interview with CBS' '60 Minutes.' GM CEO Mary Barra announced in November that the car manufacturer would close five factories in North America and lay off some 14,700 workers as a result. Musk indicated that...

WASHINGTON/SHANGHAI—U.S. President Donald Trump said on Dec. 3, that China had agreed to cut import tariffs on American-made cars, a potential boon for automakers including Tesla Inc and BMW who manufacture in the United States for export to China. Trump, fresh from agreeing on a 90-day cease-fire in his trade war with China at the meeting of the G20, said on Twitter that “China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.” The move, if realized, would bolster U.S. car manufacturers who were hit hard when China ramped...

A former Tesla global supply manager was indicted Thursday by federal prosecutors alleging he embezzled more than $9 million from the Palo Alto electric car maker. Salil Parulekar, 32, is charged with felony wire fraud and aggravated identity theft.

Elon Musk is grinning ear to ear today. Tesla shares jumped nearly 12.72 percent as a former short-seller of the stock cried uncle and admitted that Tesla was "destroying the competition." The stock registered the biggest gain by far on the Entrepreneur Index™. After a volatile day, the index closed down 0.26 percent. Citron Research, party to a securities class action lawsuit against Tesla over Mr. Musk's tweets earlier this year about going private, published a note this morning saying that Tesla's Model three was causing "a legitimate disruption of the auto industry." Tesla announced yesterday that it would report...

Tesla shares soared by more than 10 percent in after-hours trading after the company reported a surprise profit for the third quarter and better-than expected car sales and said it was speeding up its Model 3 production in China. Here's how the company did compared with what Wall Street expected, based on average estimates of analysts polled by Refinitiv: Adjusted earnings: $2.90 a share vs. an expected loss of 19 cents per share Revenue: $6.82 billion vs. an expected $6.33 billion The company earned an adjusted $516 million during the quarter, which was an otherwise a tumultuous one for the...

Earlier this month, California-based electric car startup Lucid Motors ($LUCIDMOTORS) locked in a billion-dollar infusion from the Public Investment Fund of Saudi Arabia. Through this deal, the official sovereign wealth fund of the Saudi government is helping to put Lucid on track to produce its first commercially available electric vehicle, the Lucid Air, on the market in 2020, thus putting it in direct competition with Tesla ($NASDAQ:TSLA). Since announcing its deal on September 17, Lucid listed more than double the amount of job openings month-over-month, which is understandable given a billion-dollar influx in capital....

CE car sales are down and EV sales are up. Most people know this much. Also, EV sales are not up by as much as ICE car sales are down. The two metrics are believed to be independent of one another. I believe they are related. When someone purchases a Tesla Model 3, that car sale is an EV and not a new ICE vehicle. So that is a first sale the ICE industry loses. Next, the new EV owner often trades in a used ICE car and someone else will purchase that car. Some number of car buyers will...

Tesla's clubby referral program has long rewarded enthusiastic owners for bringing their friends, family, and complete strangers into the electric car fold. The new buyer gets a nice little perk, the missionary climbs a lucrative pyramid of gifts, and everyone wins. Especially people like Electrek's Editor-in-Chief Fred Lambert, who's converted 69 people into battery believers and earned himself a free $250,000 next-generation Tesla Roadster.

Tesla shares were up over 15 percent in pre-market trade on Monday after Chief Executive Elon Musk settled charges with the Securities and Exchange Commission (SEC).

The SEC sued Musk on Thursday for allegedly lying to investors when he tweeted last month that he had “funding secured” to take Tesla private....Tesla will separately pay another $20 million....Musk and Tesla were not required to admit to any wrongdoing as part of the settlement.

Tesla and SpaceX CEO Elon Musk has reportedly reached a settlement with the Securities and Exchange Commission after his abandoned attempt to the company private. As a result of the settlement, which is still subject to court approval, Musk will have to step down from his role as chairman for at least three years and pay a civil penalty of $20 million, CNBC reported Saturday. Tesla will also have to pay a $20 million if the settlement is approved. DEVELOPING

Regulators accuse him of misleading shareholders when he said he had funding for a corporate buyout Securities regulators on Thursday sued Elon Musk for fraud and sought to remove him from Tesla Inc., TSLA -0.67% raising doubts about the future of an electric-car maker synonymous with the audacious entrepreneur. The SEC’s lawsuit—sparked by Mr. Musk’s August comments that he had lined up funding for a corporate buyout—seeks civil penalties against Mr. Musk and asks a court to bar him from being the officer or director of a public company. [Emphasis mine] “These misleading statements, none of which were pre-cleared or...

JUST IN: Elon Musk, Tesla charged with fraud by SEC - CNBC This was also mentioned on the hearing live feed by Golden State Times.

Former General Motors Vice Chairman Bob Lutz discussed Elon Musk’s Tesla in a recent interview stating that the company is “headed for the graveyard.” In a recent interview with CNBC the former Vice Chairman of General Motors, Bob Lutz, does not have high hopes for the future of Elon Musk’s electric-car manufacturer Tesla. According to Lutz, Tesla is “headed for the graveyard,” given the recent announcement that both the company and Musk are being investigated by the DOJ and the SEC. “They will never make money on the Model 3 because the cost is way too high,” Lutz said during...

Tesla is under investigation by the Justice Department, a company spokesperson confirmed Tuesday. In a statement to The Washington Times, the Tesla spokesperson said the Justice Department reached out for documents after an August tweet by CEO Elon Musk about taking the high-tech car company private:

A downturn in China's car market has wrong-footed some of the world's biggest automakers, saddling them with factories they no longer need and that are costly to retool, according to a report from the Dow Jones Newswires supplied to EFE on Tuesday. Ford Motor, Peugeot and Hyundai Motor especially mistimed recent expansions, opening new plants just as the seemingly unstoppable growth of China's auto market went into reverse.

China is moving to cut import tariffs on American-made cars to 15 percent from the current 40 percent, Bloomberg reported on Tuesday citing people familiar with the matter. The step hasn’t been finalized and could still change, according to the report. Shares of U.S. automakers including General Motors Co (GM.N) and Ford Motor Co (F.N) rose about 2 percent in premarket trading on hopes that the move could revitalize sales that took a hit when China ramped up levies on U.S.-made cars.

At a near-empty Hyundai Motor (005380.KS) showroom in the Chinese mega city of Chongqing, the store manager is grumbling about his shortage of customers and a lack of bigger, cheaper SUV models popular in the world’s largest auto market. Even with discounting of as much as 25 percent, his dealership was selling barely a hundred vehicles a month, said the manager surnamed Li. A nearby Nissan (7201.T) dealership was selling about 400 vehicles a month, a store manager there said. “The sales are simply poor,” Li told Reuters. “Look at the Nissan store next door, they have tens of customers...

The Detroit-based company's proposal, modeled after a California program the Trump administration is seeking to undermine, would mandate that manufacturers garner an escalating percentage of total vehicle sales from automobiles powered by electricity or hydrogen fuel cells.

TUSCALOOSA, AL (WBRC) - MöllerTech is looking to hire more people to work in its Woodstock plant. The company, along with West Alabama Works and others, have organized a hiring event. MöllerTech builds interior parts for Mercedes SUV’s, but other Mercedes suppliers will consider applicants who apply for jobs with MöllerTech. “Mercedes has their other two plants being built now and the recent announcement of their battery plant and then we have all the other suppliers,” Donny Jones with West Alabama Works said. Applicants should wear khakis with a buttoned down shirt or polo. They’re also asked to bring a...