Category: News

Rivian Valued at $100B in Stock Market Debut

Investors showed Wednesday strong support for electric vehicles by lifting the valuation of Rivian Automotive Inc. to more than $100 billion. Shares of Rivian hit the Nasdaq Wednesday and jumped 53% from its debut price. It was the world’s largest initial public offering this year. Chief Executive RJ Scaringe thanked his team and shared photos… Continue reading Rivian Valued at $100B in Stock Market Debut

SpaceX Safely Returns Crew-2 Astronauts

SpaceX brought four astronauts home Monday from the International Space Station. NASA’s Shane Kimbrough and Megan McArthur, French astronaut Thomas Pesquet of the European Space Agency, and Akihiko Hoshide from Japan splashed down off the coast of Florida aboard SpaceX’s Crew Dragon capsule. It took about nine hours from the time the capsule left ISS… Continue reading SpaceX Safely Returns Crew-2 Astronauts

Model Y Delivery Estimates Pushed to 2022

Tesla’s ordering page for the Model Y suggests it’s been a big hit. The all-electric crossover SUV is sold out through the rest of the year, according to the company’s website. The Model Y Long Range currently has an estimated delivery date of June 2022. The Performance version is said to be available in January 2022.… Continue reading Model Y Delivery Estimates Pushed to 2022

Report: Tesla, Hertz Negotiating Timeline of Massive Model 3 Order

Tesla’s whale of a deal with Hertz for 100,000 electric vehicles is still being negotiated, according to a report from the Wall Street Journal. When Hertz announced the order, Tesla stock spiked. Tesla Chief Executive Elon Musk took Twitter to say that the two companies had no contract in place and that fulfilling such a… Continue reading Report: Tesla, Hertz Negotiating Timeline of Massive Model 3 Order

Ford Announces Crate Motor for EV Conversions

Ford announced a plan Tuesday to help electrify fleets of older vehicles with a new crate motor.  Dubbed the “Eluminator e-crate motor,” Part No. M-9000-MACH-E, is now available at authorized Ford parts warehouse dealers or online at Ford Performance Parts. The Eluminator retails at $3,900 and is “targeted for builders looking for a transverse-oriented powertrain… Continue reading Ford Announces Crate Motor for EV Conversions

Rivian Preparing to IPO Next Week

Electric vehicle manufacturer Rivian is planning its initial public offering for next week, according to a regulatory filing. The company is seeking a valuation of just over $60 billion. The automaker will trade on the Nasdaq Stock Market under the symbol RIVN. Rivian, which just recently started delivering its first vehicles, filed for the IPO in September. In… Continue reading Rivian Preparing to IPO Next Week

Tesla Recalls 2,822 Cars for Suspension Issue

Tesla has issued a recall impacting 2,822 cars. In a note to owners, Tesla said it has decided to “proactively recall certain Model 3 and Model Y vehicles to inspect the bolts that secure the lateral link in the front suspension.” The company said the recall applies to certain Model 3 vehicles built between January 2019… Continue reading Tesla Recalls 2,822 Cars for Suspension Issue

Tesla Hits $1 Trillion Valuation

DCIM100MEDIADJI_0157.JPG

Tesla achieved Monday a market value of $1 trillion, becoming only the fifth company to reach such a milestone. The run up in market capitalization followed a $4.2 billion order from rental car company Hertz. The company announced Monday that it would replace about a fifth of its fleet with Tesla Model 3 sedans. Tesla has held the title… Continue reading Tesla Hits $1 Trillion Valuation

Hertz Places $4.2 Billion Order with Tesla

Rental car company Hertz has ordered 100,000 units of Tesla’s Model 3. The full price for the order was about $4.2 billion. Chief Executive Elon Musk was sure to note that Hertz paid full price for the vehicles. “To be clear, cars sold to Hertz have no discount,” he said on Twitter. “Same price as… Continue reading Hertz Places $4.2 Billion Order with Tesla