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Elon Musk, a billionaire, and Tesla, a company that ended June with USD 2.2 billion in cash, each is paying USD 20 million to resolve the case. (Photo: File | AP)

Elon Musk out as Tesla chairman, to pay USD 20 mn to settle govt lawsuit

SEC announced the settlement on Saturday, just two days after filing a case seeking to oust Musk as CEO.

30 Sep 2018 8:29 AM

Musk recently appeared to be smoking marijuana in a video clip that has been widely circulated.

5 things to know about the SEC’s complaint against Elon Musk

Musk floated the idea of pursuing a buyout that would end Tesla’s eight-year stint as a publicly held company.

29 Sep 2018 12:21 PM

The complaint filed in US District Court in Manhattan says that Musk had not discussed or confirmed key deal terms.

SEC seeks to oust Tesla CEO Elon Musk over go-private tweet

Musk falsely claimed in an August 7 statement on Twitter that funding was secured to go private at $420 per share.

29 Sep 2018 12:10 PM

Elon Musk has been directly involved in almost every detail of its product development and technology strategy, and is credited as the driving force behind the loss-making company’s ability to raise capital.

Tesla's Musk may settle SEC lawsuit but ready for fight

Musk was accused of tweeting false and misleading information in August.

29 Sep 2018 9:39 AM

(Representational image/ AP Photo/Jack Plunkett, File)

US regulator sues Musk for fraud, seek to remove him from Tesla

Musk, 47, is the public face of Tesla and losing him would be a big blow for the money-losing car maker.

28 Sep 2018 9:19 AM

The company is upgrading its logistics system but running into an “extreme” shortage of car carrier trailers.

Tesla is making its own car carriers

Earlier this month, Musk acknowledged that the company was facing more logistical problems now than production delays.

25 Sep 2018 2:11 PM

The probe by the Justice Department, which can press criminal charges, comes on top of a civil probe by the Securities and Exchange Commission and shareholder lawsuits. (Photo: AP)

US Justice Department investigating Musk statement on taking Tesla private

The Justice Department asked Tesla for documents about Musk’s announcement, Tesla said, describing it as a “voluntary request.”

19 Sep 2018 10:26 AM

Elon Musk falsely accused Vernon Unsworth of being guilty of heinous crimes. (Photo: AP)

Tesla's Musk is sued for falsely suggesting Thai cave rescuer was a paedophile

Unsworth is seeking at least $75,000 of compensatory damages plus unspecified punitive damages.

18 Sep 2018 8:07 AM

The company has eliminated some colour options for its cars to streamline operations as it intensifies its efforts to ramp up production. AP Photo/Jack Plunkett, File)

Musk: Tesla customers may face longer response time as deliveries rise

Tesla is trying to iron out production bumps after struggling to produce Model 3 sedans and failing to meet several production deadlines.

13 Sep 2018 10:36 AM

Dillion even went on to praise Musk for his ‘adventourous spirit,’ which makes him fit for a role in a porn movie involving weeds. (Photo: Joe Rogan Experience podcast)

Elon Musk offered a pron actor's job for $150,000

The Tesla and SpaceX founder has been approached by XBlaze for an ‘adventourous’ venture.

12 Sep 2018 11:02 AM

The colour options that will still be available are solid black, midnight silver metallic, deep blue metallic, pearl-white multi-coat, and red multi-coat.

Tesla to drop some colour options for cars to simplify production

Tesla currently offers seven colours for its vehicles that include top variant Model S, mid level Model X and its sedan Model 3.

12 Sep 2018 9:21 AM

This was the latest in a string of unconventional behavior by the billionaire South African native who is also CEO of rocket startup SpaceX. (AP Photo/Jack Plunkett, File)

Tesla shares reel as executives quit and CEO Musk smokes pot on webcast

Shares of the electric carmaker tumbled more than 6 per cent on Friday to $263.24, with investors on edge after a tumultuous August.

08 Sep 2018 7:53 AM

The $1.8 billion high-yield bond Tesla issued a year ago hit a record low price on Wednesday. (AP Photo/David Zalubowski, File)

Tesla bond hits record low, stock dip as investor worry deepens

The stock dropped 2.8 percent to $280.74, the lowest level since late May, following a 4.2 percent decline on Tuesday.

06 Sep 2018 2:23 PM

The Germans’ combined market share will surpass Tesla’s to reach 11.8 per cent in 2020 before increasing further to about 19 percent three years later.

Electric Mercedes opens German assault on Tesla

The Mercedes EQC is the first production model under the carmaker’s electric EQ sub-brand.

03 Sep 2018 8:42 PM

The incentive program provides rebates of up to C$14,000 ($10,640) for people who bought electric cars.

Ontario to include Tesla car owners in rebate program after court decision

The decision follows the Ontario Superior Court of Justice on Tuesday striking down a transition program.

01 Sep 2018 10:54 AM

In a ruling on Monday, Judge Frederick Myers of Ontario struck down the transition programme set up by the new Ontario government, which excluded Tesla customers from qualifying for rebates. (AP Photo/David Zalubowski, File)

Tesla wins court case over rebate cancellation

Tesla’s challenge arose after Ontario’s Progressive Conservative government in July cancelled a slew of green energy initiatives.

29 Aug 2018 8:57 AM

With Musk’s idea for a buyout backed by Saudi Arabia’s sovereign wealth fund now off the table, attention was zeroing in on Tesla’s efforts to become profitable.(AP Photo/David Zalubowski, File)

Tesla shares slide 3 per cent after Musk abandons buyout

The billionaire entrepreneur said most of Tesla’s existing shareholders opposed the deal that he proposed.

28 Aug 2018 9:05 AM

The case is separate from lawsuits accusing Tesla and Musk of scheming to hurt short-sellers.

Tesla, Elon Musk win dismissal of lawsuit over progress of Model 3 production

The judge said the shareholders have until Sept. 28 to amend their complaint.

28 Aug 2018 8:19 AM

Germany-listed shares in Tesla fell more than 3 per cent in early deals on the Tradegate exchange. (Photo: AP)

Tesla's German shares fall after CEO Musk drops plan to take company private

Musk said late on August 24 he would heed shareholder concerns and no longer pursue a $72 billion deal to take the company private.

27 Aug 2018 2:12 PM

The sun shines off the rear deck of a roadster on a Tesla dealer’s lot in the south Denver suburb of Littleton, Colo. (AP Photo/David Zalubowski, File)

Tesla to remain public, board says, after meeting with Musk

Tesla will continue to focus on building products such as the Model 3 which Musk intends to ramp up and make profitable, as per ANI.

26 Aug 2018 8:13 AM

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Sunil Gatade