Latest Palo Alto News

Tesla shares bounce on leaked memo about rising sales

May. 23, 2019 6:59 PM EDT

Shares of Tesla, suffering one of the worst stretches in company history, rebounded Thursday after CEO Elon Musk told employees that orders are up. The company's stock closed up 1.4% to $195.49 on a volatile day that started out with a loss. Tesla stock has shed 16% in the past three weeks and about 41% since the...

Musk doubles down on investment as Tesla raises capital goal

May. 3, 2019 1:39 PM EDT

DETROIT (AP) — Tesla CEO Elon Musk is more than doubling the stock he will buy in a new public offering in an apparent bid to earn investors' confidence as he tries to turn around his struggling electric car company. Musk raised his latest investment from $10 million to $25 million on Friday as Tesla...

Tesla to raise money after painful 1Q, and Musk is buying in

May. 2, 2019 5:41 PM EDT

PALO ALTO, Calif. (AP) — A week after revealing a huge first quarter loss and the need to raise cash, Tesla is doing just that with CEO Elon Musk buying $10 million in new shares being offered as part of a stock and debt offering that could raise more than $2 billion. Tesla said Thursday that it's selling...

Tesla CEO plans to hand the car keys to robots next year

Apr. 22, 2019 8:18 PM EDT

SAN FRANCISCO (AP) — Tesla CEO Elon Musk expects to start converting the company's electric cars into fully self-driving vehicles next year as part of an audacious plan to create a network of robotic taxis to compete against Uber and other ride-hailing services. The vision sketched out Monday during an...

Tesla wants to cut size of board from 11 directors to 7

Apr. 20, 2019 1:43 PM EDT

PALO ALTO, Calif. (AP) — Tesla plans to cut its board of directors from 11 to seven in a move the electric-car maker says will allow the board to act more nimbly and efficiently. Tesla says the four directors who will depart aren't leaving because of any disagreement with the company. The board has come...

Tesla's production, deliveries fall in the 1st quarter

Apr. 3, 2019 11:15 PM EDT

SAN FRANCISCO (AP) — Tesla's assembly lines slowed and deliveries fell during a rocky start to the new year that is likely to magnify nagging doubts about the company's ability to post sustained profits. The Palo Alto, California, company churned out 77,100 vehicles from January to March, well behind the...