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Tesla postpones plan for $25,000 electric car

In 2020, Tesla announced plans to establish a new R&D center in China to build “Chinese-style” electric car…reports Asian Lite News

Tesla CEO Elon Musk has confirmed that its electric vehicle company is not working on its previously announced $25,000 electric car right now because it has “too much on its plate”.

During Tesla’s fourth-quarter earnings, Musk was asked by shareholders about the status of the $25,000 Tesla, the auto-tech website Electrek reported.

“Well, we are not currently working on the $25,000 car. At some point, we will, but we have enough on our plate right now, too much on our plate, frankly. So, at some point, there will be,” Musk responded.

At Tesla Battery Day in 2020, CEO Elon Musk announced that Tesla will be making a $25,000 electric car.

He made it clear that this new price point is achieved through Tesla’s new battery cell and battery manufacturing effort, which could reduce battery costs by over 50 per cent.

The $25,000 Tesla electric car, which is often referred to as the “Tesla Model 2”, has been likened to a new electric hatchback that Tesla has been planning to produce at Gigafactory Shanghai in China and export globally.

In 2020, Tesla announced plans to establish a new R&D center in China to build “Chinese-style” electric car.

Tesla started taking design submissions for its Chinese-made small electric car that summer and started hiring for the programme shortly afterward.

At the time, the automaker also released this early design drawing of a small electric hatchback. It led many to think that it was the design direction and form factor that Tesla is going for in the upcoming electric vehicle.

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Business Tech Lite

Developer claims CarPlay possible on Tesla

In images and videos posted to Twitter, Gapinski showed his Tesla running CarPlay on the display of his vehicle…reports Asian Lite News

A developer has come up with a way to get CarPlay running on a Tesla, with a workaround allowing drivers access to their iPhones while behind the wheel, media reports say.

While Apple’s CarPlay is available for many car infotainment systems, it has never been officially allowed to run on a Tesla’s in-car display, reports AppleInsider.

Though it is plausible to install an aftermarket head unit that has CarPlay support, Polish developer Michal Gapinski came up with his way.

In images and videos posted to Twitter, Gapinski showed his Tesla running CarPlay on the display of his vehicle.

However, rather than making any major changes to the hardware of Tesla itself, Gapinski instead bypasses Wi-Fi restrictions so that Tesla’s browser can connect to a secondary device.

In turn, the browser displays what is shown on the host device as a live video feed, the report said.

The developer explained that the project relies on a Raspberry Pi running a custom build of Android. That build runs an interface that works with CarPlay, enabling Apple’s UI to be usable from the larger screen.

Gapinski said there are improvements to be made to the system, with the Wi-Fi connection requiring some refinement to make it smoother.

Currently, in its early stages, the developer said he plans to release it to the public “when it’s polished”.

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Business

Tesla to try dogecoin


After vouching for Bitcoin, Tesla CEO Elon Musk now supports Dogecoin cryptocurrency, even calling him “Dogefather”….reports Asian Lite News

Tesla CEO Elon Musk on Friday said the electric carmaker will accept meme-based digital currency dogecoin for merchandise.

“Tesla merch buyable with Dogecoin,” Musk said in a tweet.

Following the news, Dogecoin raced up to $0.20.

Tesla sells apparel, ‘Giga Texas’ belt buckles and mini models of its vehicles as well as quirky limited-edition items such as the ‘Cyberwhistle’, which is modelled after its much-awaited Cybertruck.

After vouching for Bitcoin, Tesla CEO Elon Musk now supports Dogecoin cryptocurrency, even calling him “Dogefather”.

Dogecoin is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system. Nearly 113 billion coins have already been mined.

In addition, Musk earlier confirmed that the company is “most likely” going to resume taking Bitcoin payment after some due diligence on the improvements in the energy mix used to mine the cryptocurrency.

“I wanted a little bit more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50 per cent, and that there is a trend toward increasing that number, and if so Tesla would resume accepting bitcoin,” Musk said.

“Most likely the answer is that Tesla would resume accepting bitcoin,” he added.

Musk also confirmed that he has a significant personal investment into bitcoin on top of Tesla’s investment and he has smaller Ethereum and Dogecoin holdings.

ALSO READ: High taxes hinder Tesla’s India entry

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High taxes hinder Tesla’s India entry

Tesla wants to begin selling imported cars in India this year but says taxes in the country are among the highest in the world….reports Asian Lite News

 Tesla CEO Elon Musk on Thursday informed that the EV-maker is facing a “lot of challenges” for its car launch in India.

“Still working through a lot of challenges with the government,” Musk tweeted.

Musk was replying to a Twitter user, who asked: “Yo @elonmusk any further update as to when Tesla’s will launch in India? They’re pretty awesome and deserve to be in every corner of the world!”

Tesla wants to begin selling imported cars in India this year but says taxes in the country are among the highest in the world.

With a $39,990 global price tag, Tesla Model 3 may remain as an affordable model in the US but with import duties, it would become unaffordable in the Indian market with an expected price tag of around Rs 60 lakh.

Currently, India levies 100 per cent tax on the imported cars of price more than $40,000 (Rs 30 lakh) inclusive of insurance and shipping expenses, and cars less than $40,000 are subject to 60 per cent import tax.

The government may consider lowering import duty along with offering other sops to Tesla but for that, the EV major would have to invest in setting up a manufacturing facility in the country.

Earlier, Union Minister for Road Transport and Highways, Nitin Gadkari, informed that Tesla car would cost about Rs 35 lakh in India.

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Former SpaceX employees allege sexual harassment at work

She added that SpaceX’s lack of action was possibly driven by management’s desire to avoid work disruptions and the company reluctance to hold some men accountable for bad behaviour…reports Asian Lite News.

Five former employees at tech billionaire Elon Musk’s space firm SpaceX have come forward to speak out about the sexual harassment they faced in the company and how managers and the human resources department their handled complaints poorly, as per media reports.

This comes on the heels of six more women filing separate lawsuits against Musk’s electric car company Tesla, in the US, for rampant sexually harassment at the workplace. Two other women had filed sexual harassment lawsuit in the US – two within a month’s time.

One former employee Ashley Kosak, who left SpaceX in November, wrote of her experiences at the rocket company in an essay that was published in Lioness – a platform for whistleblowers to report on workplace misconduct, the report said. She worked as a build reliability engineer in Cape Canaveral, Florida.

In the essay account, Kosak detailed multiple instances of being groped and feeling uncomfortable after fending off sexual advances by her male co-workers. She also wrote how despite several complaints to the HR, the matter was ignored. The other four former employees said they faced similar experiences at the company.

https://www.youtube.com/watch?v=pVaRRHBxECQ

They shared their own troubling experiences at SpaceX or witnessing other women and non-binary people being harassed with The Verge. Shockingly, in three cases, SpaceX HR was made aware of the allegations and had inconsistent responses that the employees felt were inadequate, the report said.

“SpaceX, as an organisation, values the mission over employee wellness to the extent that I never saw meaningful action taken against individuals who committed acts of sexual harassment,” one former employee was quoted as saying.

She added that SpaceX’s lack of action was possibly driven by management’s desire to avoid work disruptions and the company reluctance to hold some men accountable for bad behaviour

With the essay, Kosak aims to put out the message that will also help others in the space industry realise that any harassment they might be experiencing should not be tolerated.

“I think until someone finally says, ‘This is unacceptable,’ you find a way mentally to accept that it’s okay,” Kosak was quoted as saying to The Verge.

“I hope that this essay helps bring to light that a lot of behaviours that are happening out there are not okay.”

In view of the essay, SpaceX has sent a company-wide email to SpaceX employees, reminding them of the company’s “no A-hole” policy and that harassment will not be tolerated, the report said.

“Timely reporting of harassment is key to our maintaining SpaceX as a great place to work; we can’t fix what we don’t know,” Gwynne Shotwell, president and COO of SpaceX wrote in the email.

She also encouraged people to report any harassment they might experience, the report said.

Meanwhile Musk, who is CEO of SpaceX as well as Tesla has been chosen as the Time’s ‘person of the year’.

But the magazine’s decision has been criticised because of Musk’s attitude towards taxes, opposition to unions, and playing down the dangers of Covid-19, The Guardian reported.

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-Top News USA

Tesla hit with another sexual harassment lawsuit

The lawsuit claimed that she faced “sexual harassment on a near-daily basis” from her former manager….reports Asian Lite News

Elon Musk-run electric car maker Tesla has been hit by a second sexual harassment lawsuit in the US within a month, in which a female employee alleged that that her manager “hugged and massaged her” and she experienced “continuous and pervasive” sexual harassment, the media reported.

According to a report in Business Insider, Erica Cloud, an assembly line worker at Tesla’s Fremont, California-based factory, filed the lawsuit.

The lawsuit claimed that she faced “sexual harassment on a near-daily basis” from her former manager.

It also said the manager would “get on his knees and propose marriage”, as well as “hug and massage” her.

She rejected the advances on multiple occasions.

In the spring of 2020, the manager allegedly told Cloud “on several occasions that she is ‘blackenese’ and he ‘is big down there'”, according to the lawsuit.

Cloud accused the electric car maker of failing to prevent “a pattern of continuous and pervasive” sexual harassment at its Fremont factory in California.

Tesla was yet to comment on the second lawsuit that has been filed within a month.

A female Tesla employee last month filed a lawsuit against the company, accusing the automaker of creating a hostile work environment where sexual harassment was “rampant”.

According to a report in The Washington Post, Jessica Barraza, a production associate who works on the Tesla Model 3, said in a lawsuit that she was subjected to constant harassment at the Tesla’s factory in Fremont, California, “including catcalling and inappropriate physical touching”.

“After almost three years of experiencing all the harassment, it robs your sense of security — it almost dehumanises you,” she was quoted as saying in the report.

The lawsuit alleged “rampant sexual harassment at Tesla,” alleging “nightmarish conditions” and a factory floor that “more resembles a crude, archaic construction site or frat house than a cutting-edge company in the heart of the progressive San Francisco Bay area”.

Tesla produces its Model S, Model 3, Model X, and Model Y electric vehicles at the Fremont plant.

In October, Tesla was ordered to pay $137 million to a former contractor at the same plant, who alleged he was subjected to racial harassment.

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Business

Musk urges staff to reduce delivery cost

Tesla has generally ramped up deliveries of cars to customers at the end of each quarter….reports Asian Lite News

Tesla CEO Elon Musk has urged employees not to be in a hurry to deliver vehicles in the ongoing festive quarter but focus on minimising costs, because he doesn’t want the company “spending heavily on expedite fees, overtime and temporary contractors just so that cars arrive in Q4.”

Tesla has generally ramped up deliveries of cars to customers at the end of each quarter.

In a memo to employees seen by CNBC, the Tesla CEO said that what has happened historically is that “we sprint like crazy at end of quarter to maximize deliveries, but then deliveries drop massively in the first few weeks of the next quarter”.

“In effect, looked at over a six-month period, we won’t have delivered any extra cars but we will have spent a lot of money and burned ourselves out to accelerate deliveries in the last two weeks of each quarter,” he wrote.

Tesla Model Y. (Photo: Twitter/@Tesla)

The memo was sent after Tesla was able to increase its global deliveries to over 241,000 in its latest quarter, despite supply chain issues and chip shortage.

According to the report, Tesla hasn’t released a clear delivery target for 2021, but that it aims to increase deliveries by around 50 per cent on an annual basis.

Tesla has reiterated its guidance for “50% average annual growth in vehicle deliveries” over a multi-year horizon, including on its third-quarter earnings call.

The electric car-maker delivered 500,000 vehicles in 2020, and has already reported delivering 627,350 in the first three quarters of 2021.

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Business

Twitter poll: Musk sells $5bn of Tesla stock

The world’s richest man had earlier posted two of the costliest tweets in the history of Global Inc….reports Asian Lite News

Elon Musk has offloaded Tesla shares worth $5 billion, after he was trolled on Twitter for a controversial poll last weekend where he proposed selling 10 per cent of his stock in the electric car-maker.

Initial filings in the US showed that Musk had sold 934,091 shares for about $1.1 billion, out of more than 2.1 million options he received as part of a compensation package.

The filings that were posted later on Wednesday with the US Securities and Exchange Commission (SEC) showed that Musk sold another 3.58 million shares in Tesla. That sale was valued at about $4 billion, reports TechCrunch.

The world’s richest man had earlier posted two of the costliest tweets in the history of Global Inc.

In a tweet announcing the poll over the weekend, Musk said: “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10 per cent of my Tesla stock.

“I will abide by the results of this poll, whichever way it goes.”

Nearly 58 per cent of Elon Musk’s followers who participated in his Twitter poll told him to sell 10 per cent of his stock (worth $24 billion) in the electric car company, ostensibly to pay more tax.

Musk posted: “Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.”

The bloodbath that followed sunk Tesla stock by $200 billion (market capitalisation was $1,211 billion on November 5 end of day and $1,023 bn on Tuesday).

Musk’s own net worth took a $50 billion beating.

He has been a vocal critic of a proposal to tax unrealised gains on publicly traded assets in the US.

ALSO READ: Musk holds twitter poll on $24 bn Tesla stock sale

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Musk holds twitter poll on $24 bn Tesla stock sale

The Tesla CEO has argued against taxing those unrealised gains, but he has now taken to Twitter to offer an alternative….reports Asian Lite News

 Tech billionaire Elon Musk has said that he is prepared to sell about $24 billion worth of his electric vehicle company Tesla’s stocks if his Twitter followers vote for it.

According to the auto-tech website Electrek, the Tesla CEO said that it is to address the accusation that he is not paying taxes.

Lately, there has been a lot of talk about some of the richest people in the world not paying taxes. Many of the world’s richest people have most of their wealth tied to stocks.

While their net worth is reported in the billions of dollars and can fluctuate by billions of dollars every month, that value is not liquid unless they were to sell those stocks — otherwise known as unrealised gains.

The Tesla CEO has argued against taxing those unrealised gains, but he has now taken to Twitter to offer an alternative.

He says that if Twitter votes for it, he will sell 10 per cent of his stake in Tesla, which is going to have to pay taxes on.

Tesla CEO Elon Musk. (File photo: IANS)

The CEO said that he will do whatever the results of the Twitter poll.

As of the time of writing, over half a million people voted on the poll and ‘Yes’ is winning by a significant margin.

Currently, 10 per cent of Musk’s stake in Tesla is worth around $24 billion, which he is going to have to pay taxes on.

If Musk was to sell that many Tesla stocks, it would likely have a significant negative impact on the price, the report said.

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-Top News USA

Musk To Set Up Tech Uni in Texas

A Twitter user asked him if the funding was secured, to which Musk replied: “Funding secured”, adding that it “will have epic merchandise”. ….reports Asian Lite News

Elon Musk, whose fortune recently exceeded $300 billion, said on Friday that he aims to start a new university in the US called “Texas Institute of Technology & Science”.

“Am thinking of starting a new university: Texas Institute of Technology & Science,” Musk said in a tweet.

Twitter user asked him if the funding was secured, to which Musk replied: “Funding secured”, adding that it “will have epic merchandise”.

Twitter follower said: “You should make it tuition free and guarantee high scoring graduates jobs at Tesla or SpaceX”.

“If you don’t believe in college education…why build a University,” said another user.

At the ‘Satellite 2020’ conference in Washington DC, recently, Musk responded to an audience member by saying that college was unnecessary because “you can learn anything you want for free”.

“I think college is basically for fun and to prove that you can do your chores, but they’re not for learning,” Musk said.

He also said that he hopes to make sure his electric car company Tesla does not have university requirements for jobs, “because that’s absurd”.

Musk-run electric car company Tesla has become the fifth US company to join the $1 trillion club, after Apple, Microsoft, Amazon, and Alphabet.

The rally came after the US-based rental car company Hertz said that it has ordered 100,000 Tesla vehicles (worth at least $4.2 billion) by the end of 2022 as part of an ambitious plan to electrify its fleet.

The move includes new EV charging infrastructure across the company’s global operations.

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