Global News

[ad_1] Tesla's directors have agreed to return more than $700 million to the company after fielding accusations they grossly overpaid themselves, marking one of the largest corporate settlements in history, Reuters reported.  The settlement, which was filed in the Delaware Chancery Court on Monday, shows the board members have made a deal to give back $735 million to the electric vehicle company, including $3.1 million in stock options, according to the news service. The directors have also agreed to enact corporate-governance changes to how board members' compensation issues are assessed, Bloomberg Law reported . The agreement concludes a lawsuit filed in 2020 alleging Tesla's directors "breached their fiduciary duties by awarding themselves excessive and unfair compensation," a  filing  shows. The directors, including Tesla CEO Elon Musk, Oracle Corp. co-founder Larry Ellison and Musk's brother, Kimbal Musk, awarded themselves roughly

[ad_1] A little-known consumer advocacy group chose an unusual — and expensive — way to draw attention to what it sees as the threat to life and limb posed by Tesla vehicles' "Full Self-Driving" system: It bought a Super Bowl ad. During Sunday's broadcast of Super Bow LVII , a spot from The Dawn Project said Tesla's self-driving technology is built on "woefully inept engineering" that poses a treat to pedestrians and drivers. The software also can cause the electric car maker's vehicles to swerve into oncoming traffic or drive on the wrong side of the road, the nonprofit group claims.  "Tesla has known for more than six months that its Full Self-Driving software will run down a child in a crosswalk, along with hundreds of other critical safety defects reported by us and other beta testers," The Dawn Project's Founder Dan O'Dowd said in a statement Sunday.  He also urged the federal N

[ad_1] New Delhi:  Nothing smartphone maker company founder CEO Carl Pei has shared his predictions for 2023. Some of the predictions are terrific in the 10-points list. He believed that humanity will see one AI killer app in 2023. He added that we hadn’t seen nothing yet. ALSO READ |  From Apple Ultra Watch to Meta VR headset; Top 5 gadgets that grabbed attention of Indians in 2022 - In PICS Here are his all 10 predictions. At least one AI killer app will emerge (we haven’t seen nothing yet). Tesla becomes just another car brand, as traditional car brands catch up. Twitter does really well due to Elon spending lots of time on it. The metaverse remains far from mass adoption. …But Mark turns things around at Meta by running a tighter ship. Apple shares go up because it’s a very high quality business. The smartphone keeps getting stronger as a distribution tool for software and services. World governments make tougher moves against Apple and t

[ad_1] Expert analyzes the rise of more affordable electric vehicles - CBS News Watch CBS News Tom Narayan, the lead equity analyst for Global Autos at RBC Capital Markets, joins CBS News' Lilia Luciano and Tony Dokoupil to discuss why automakers are rolling out more electric vehicles and who is eligible for tax credits connected to their purchase. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On [ad_2] Source link https://worldnews2023.com/economy/expert-analyzes-the-rise-of-more-affordable-electric-vehicles/?feed_id=294106&_unique_id=660370ed81636

[ad_1] Biden administration officials announced a significant step Wednesday in moving the U.S. toward a more expansive and cohesive network of EV charging stations. Part of the move includes a major concession from EV market  leader Tesla, which owns and operates an extensive network of proprietary "superchargers" for its cars. But now, White House infrastructure coordinator Mitch Landrieu says the Elon Musk-led company has agreed to open part of its charging network to non-Tesla vehicles.   "These recent and new commitments will make more public chargers available for all EVs," Landrieu said Tuesday on a background call with reporters. "With announcements like today's and the overall growth we're seeing, it's clear that this administration is making incredible progress towards building our electric future."  Some $7.5 billion from the Infrastructure Investment and Jobs Act will be spent on bu

[ad_1] Challenging Elon Musk's full self-driving claims, a Tesla whistleblower has reportedly leaked 100GB of data to a German media outlet that contains thousands of customer complaints about the automaker's Full Self-Driving (FSD) features. The documents obtained by Handelsblatt detail about 2,400 self-acceleration issues and more than 1,500 braking problems with Tesla cars. The Tesla FSD complaints were reported across the US, Europe and Asia from 2015 to March 2022, reports The Verge. According to Handelsblatt, there were 139 reports of "unintentional emergency braking" and 383 reports of "phantom stops" from false collision warnings from customers. According to the media company, when they made Tesla aware about the data it received, the electric car-maker allegedly "demanded that the data be deleted and spoke of data theft." Some of the customer incidents include descriptions of how cars "suddenly brake or accelerate abruptly.&

[ad_1] Tesla's directors have agreed to return more than $700 million to the company after fielding accusations they grossly overpaid themselves, marking one of the largest corporate settlements in history, Reuters reported.  The settlement, which was filed in the Delaware Chancery Court on Monday, shows the board members have made a deal to give back $735 million to the electric vehicle company, including $3.1 million in stock options, according to the news service. The directors have also agreed to enact corporate-governance changes to how board members' compensation issues are assessed, Bloomberg Law reported . The agreement concludes a lawsuit filed in 2020 alleging Tesla's directors "breached their fiduciary duties by awarding themselves excessive and unfair compensation," a  filing  shows. The directors, including Tesla CEO Elon Musk, Oracle Corp. co-founder Larry Ellison and Musk's brother, Kimbal Musk, awarded themselves roughly

[ad_1] Tesla has manufactured its first Cybertruck nearly four years after founder and CEO Elon Musk touted the automaker's first electric pickup. Tesla workers at the company's so-called Gigafactory near Austin, Texas, tweeted a photo of the completed vehicle on Saturday with the caption "First Cybertruck built in Giga Texas." The feat comes four years after CEO Elon Musk introduced the silver, futuristic-looking vehicle.  Musk originally unveiled the Cybertruck in 2019 with the goal of starting production in late 2021. First Cybertruck built at Giga Texas! 🤠 pic.twitter.com/ODRhHVsd0t — Tesla (@Tesla) July 15, 2023 The Cybertruck's stainless steel alloy body is strong enough to withstand certain types of small arms fire, Musk has said. He has also estimated the truck will be capable of towing 14,000 pounds. It's unclear when Cybertrucks will be available for purchase from a

[ad_1] A growing number of automakers are modifying their electric vehicles so drivers can recharge them using Tesla's network of superchargers. Mercedes-Benz said Friday that its EV customers will get access to more than 12,000 Tesla superchargers starting next year. The German company joins car makers including  Ford ,  General Motors  and Rivian to adopt Tesla's technology. Mercedes' move is part of a larger effort across the auto industry to offer drivers a universal charging port for EVs irrespective of the vehicle manufacturer. For now, Mercedes drivers must use one of 60,000 "Mercedes me Charge" stations across the U.S. to recharge their electric vehicle. But EV owners will eventually be equipped an adapter so their vehicle connects to a Tesla supercharger, the automaker said. Electric vehicles made in 2025 and beyond will already have the supercharger port, the company noted.  "We are dedicated to elev

[ad_1] Tesla Inc on Sunday said it delivered a record number of vehicles in the second quarter, topping market estimates as price cuts and US federal credits helped make its electric vehicles more affordable. The Elon Musk-led company handed 466,140 vehicles in the April to June period, up 10% from the preceding quarter, and 83% higher from a year earlier. Analysts on average had expected Tesla to deliver 445,000 cars, according to nine analysts polled by Refinitiv, with the lowest estimate at 439,875 and highest at 450,000. The world's most valuable automaker produced 13,560 more vehicles than it delivered in the second quarter, although the gap has narrowed from 17,933 the first quarter. "The price cuts was a smart poker move for Tesla and paying major dividends in the field, especially for the China market," Dan Ives , an analyst at Wedbush Securities , said. Tesla is expected to hit record sales in China, its second-largest market after North America, despite s