Isobel Asher Hamilton, provided by Published 2:53 am PST, Monday, November 26, 2018 Elon Musk, co-founder and chief executive officer of Tesla Elon Musk, co-founder and chief executive officer of Tesla Photo: Bloomberg Photo By Patrick T. Fallon Photo: Bloomberg Photo By Patrick T. Fallon Image 1 of / 15 Caption Close Image 1 of 15 Elon Musk, co-founder and chief executive officer of Tesla Elon Musk, co-founder and chief executive officer of Tesla Photo: Bloomberg Photo By Patrick T. Fallon Elon Musk says Tesla was 'single-digit weeks' away from death during Model 3 production 1 / 15 Back to Gallery YouTube/HBO Elon Musk told Axios in an interview that Tesla was "single-digit … [Read more...] about Elon Musk: Tesla was ‘single-digit weeks’ away from death
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Elon Musk reflects on Mars, brain chips and Tesla’s near-death experience
Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE Nov. 26, 2018 / 3:07 PM GMT By Alyssa Newcomb Tesla chief executive officer Elon Musk said the electric car company had a near-death experience earlier this year that had him working nonstop, taking a “painful” toll on his well-being. “Tesla really faced a severe threat of death due to the Model 3 production ramp,” Musk said. “Essentially, the company was bleeding money like crazy and if we didn’t solve these problems in a very short period of time, we would die. And it was extremely difficult to solve them.” By June, Tesla hit a key production milestone, with 5,000 Model 3 sedans manufactured in a week. In October, Tesla posted its first profitable quarter in two years. But Musk said he wouldn’t recommend anyone work as much as he does — which at one point meant seven days a week, and … [Read more...] about Elon Musk reflects on Mars, brain chips and Tesla’s near-death experience
Elon Musk’s SpaceX is the latest big tech company to tap the risky leveraged loan market
Space X, one of Tesla CEO Elon Musk’s major business ventures, tapped the risky leveraged loan market. The $US250 million deal received a mixed reception from investors given SpaceX’s cash burning history. The company previously relied on private equity funding but now follows Tesla in tapping debt markets. Elon Musk is loving high yield debt. SpaceX took a leveraged loan worth $US250 million on Monday, having initially sought to borrow as much as $US750 million, according to numerous reports. The smaller loan was taken as a result of deteriorating credit conditions during the fundraising period. Bank of America led the financing which will help fund SpaceX’s push into sending astronauts into space and eventually humans to Mars. The loan had previously been led by Goldman Sachs, who helped take Tesla public, before rejected the proposed terms regarding future debt funding. Previous private equity funding valued SpaceX at more than $US20 billion, but loan … [Read more...] about Elon Musk’s SpaceX is the latest big tech company to tap the risky leveraged loan market
Elon Musk says he’s open to working with Mercedes-Benz on an electric van (TSLA)
Mark Matousek, provided by Published 2:23 pm CST, Monday, November 19, 2018 Francois Mori / Associated Press Tesla CEO Elon Musk said on Monday via Twitter that the automaker might make an electric van and will reach out to Daimler, the parent company of Mercedes-Benz, about a potential collaboration. When asked if a photo he had posted of a Tesla repair van was made by the automaker, Musk replied, "No, but perhaps in a few years." "Maybe interesting to work with Daimler/Mercedes on an electric Sprinter. That’s a great van. We will inquire," Musk later said. Tesla declined a request for comment, and Daimler did not immediately respond to a request for comment. Tesla CEO Elon Musk said on Monday via Twitter that the automaker might make an electric van and will reach out to Daimler, the parent company of Mercedes-Benz, about a potential collaboration. When asked if a photo he had posted of a Tesla repair van was made by the automaker, Musk replied, … [Read more...] about Elon Musk says he’s open to working with Mercedes-Benz on an electric van (TSLA)
Elon Musk says a ‘radical change’ is coming to SpaceX’s monster Mars rocket design
In a tweet, Musk revealed that “radical change” was coming to the design of the Big Falcon Rocket (BFR), which is meant to go to Mars. The tweet appeared to indicate that the second stage of the Falcon 9 will now be used for component tests for the BFR, and that the company is abandoning plans to make the second stage of Falcon 9 reusable. Musk has said that his “aspirational” goal is to launch an unmanned cargo mission to Mars by 2022. In a tweet, Saturday, SpaceX founder Elon Musk announced that “radical change” was coming to the design of the Big Falcon Rocket (BFR), that is being made in an attempt to go to Mars. Musk left out any specifics of his plan, simply announcing that “SpaceX is no longer planning to upgrade Falcon 9 second stage for reusability” and would be “Accelerating BFR instead.” Musk called the new design “very exciting” and “delightfully counter-intuitive.” Earlier in … [Read more...] about Elon Musk says a ‘radical change’ is coming to SpaceX’s monster Mars rocket design