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leakstime · 3 years
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Tesla's Chief Elon Musk Overtakes Amazon's Jeff Bezos As World's Wealthiest Person
Tesla's Chief Elon Musk Overtakes Amazon's Jeff Bezos As World's Wealthiest Person #Amazon'sJeffBezos
This latest video/Vlog live streamed/telecast today on ” Hum News “ full hd. Today’s video clips / Vlog Topic: ” Tesla’s Chief Elon Musk Overtakes Amazon’s Jeff Bezos As World’s Wealthiest Person “ this is different form yesterday topic. Elon Musk overtakes Amazons Jeff Bezos to become worlds wealthiest person After watch this short video clips/Vlog please share your thoughts here about the…
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indeednews · 3 years
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World’s richest businessman: Elon Musk beats second richest person, Mukesh Ambani, ranking better than Bill Gates Hindi news Business Tesla Elon Musk Bill Gates Vs Mukesh Ambani Net Worth; World's Richest Businessman List 2020 Update…
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snapzubusiness · 6 years
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Shares of electric car maker Tesla Inc. fell more than 6 percent early Friday after the CEO appeared to smoke marijuana during an interview and the company's accounting chief left after a month on the job. CEO Elon Musk appeared on "The Joe Rogan Experience" overnight. About two hours into the podcast, which can be seen on YouTube, Musk inhales from what the host says is a combined marijuana-tobacco joint, which Rogan notes is legal. Rogan passes the joint to Musk, who also takes a sip of whiskey. via Snapzu : Business & Economy
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newssplashy · 6 years
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While electric vehicles aren't posting big sales numbers yet, auto companies are making significant investments in them. Both new companies like Tesla and Byton and traditional car manufacturers like Ford and Mercedes-Benz plan to release electric vehicles in the near future.
While electric vehicles aren't posting big sales numbers yet, auto companies are making significant investments in them.
Both new and traditional car manufacturers plan to release electric vehicles in the coming years.
Some of the vehicles have specs and tech features that exceed most gas-powered cars.
While electric vehicles still represent a very small percentage of global car sales, automotive companies have made significant investments in them. As governments move to increase emissions standards, even traditional manufacturers anticipate electric vehicles playing a big role in the near future.
These are 30 electric cars you can expect to see by 2025:
1. Porsche Taycan
Porsche will begin production on the Taycan, which is expected to start around $75,000, in 2019.
Porsche says it will have over 300 miles of range.
Porsche has said the Taycan will have a range of over 300 miles per charge, over 600 horsepower, and the ability to accelerate from 0-60 mph in less than 3.5 seconds.
2. Volkswagen I.D. Buzz
Volkswagen is revamping its iconic minibus with the I.D. Buzz, which will hit dealerships in 2022.
The van will have a customizable interior.
It will feature seats that can move and rotate on tracks in the floor, allowing owners to set up the interior for a variety of purposes.
3. Volkswagen I.D. Crozz
Volkswagen will release its I.D. crossover SUV in 2020.
Volkswagen says the vehicle will have a range of up to 300 miles.
The ID Crozz will have two motors, 302 horsepower, and the ability to drive up to 300 miles per charge, Volkswagen has said.
4. Volkswagen I.D.
In addition to the Crozz, Volkswagen also plans to release an electric compact car, the I.D., in 2020.
Volkswagen says the I.D. will have a range of up to 373 miles.
Volkswagen has said the I.D. will have 168 horsepower and a range between 249 and 373 miles.
The ID will be in the same price range as a Golf with similar specs and features. The Golf currently starts at a little over $20,000.
5. Jaguar I-Pace
Jaguar will release its first fully-electric vehicle, the I-Pace, during the second half of this year.
Jaguar says the I-Pace has the kind of performance specs you'd expect from a luxury brand.
Designed as a competitor to Tesla's Model X, the I-Pace will have 394 horsepower, 512 pound-feet of torque, up to 240 miles of range and the ability to accelerate from 0-60 mph in 4.5 seconds, according to Jaguar.
6. 2018 Nissan Leaf
Nissan released a new version of the Leaf this year.
The 2018 Leaf has a 151-mile range.
The 2018 Leaf has a 151-mile range, 147 horsepower, and the ability to receive 90 miles of charge in 30 minutes with a DC fast-charger.
7. Aston Martin RapidE
Aston Martin will make only 155 RapidE sedans, which will be sold in 2019.
Aston Martin says the car will outdo Tesla.
The luxury car will cost $255,000, and Aston Martin's CEO says it will be superior to any of Tesla's offerings.
8. Tesla Model Y
While Tesla hasn't announced a definite release date for its upcoming Model Y SUV, CEO Elon Musk has said production will begin in 2020.
Musk said the Model Y will be a "manufacturing revolution."
During Tesla's first-quarter earnings call in May, Musk said the Model Y will transform Tesla's manufacturing process.
"I think Model Y is going to be a manufacturing revolution," he said.
Tesla released a video in May that included a glimpse of a vehicle that may be the Model Y. The vehicle in question is pictured above.
9. Tesla pickup truck
Musk has said Tesla will release a pickup truck after the Model Y.
Musk offered a few details about the truck in June.
Musk said standard features will include "crazy" torque, two motors, all-wheel-drive, and a suspension that is able to adjust to the load the vehicle is hauling. He also said it would have 360-degree cameras, sonar, and the ability to parallel park on its own.
10. Audi e-tron
Audi says it will start delivering the e-tron to US customers in early 2019.
The e-tron will have just under 250 miles of range, Audi says.
Audi has said the e-tron will have a range of over 248 miles per charge, 221 pound-feet of torque, and the ability to accelerate from 0-60 mph in under six seconds.
11. Mercedez-Benz EQC
Mercedes-Benz will launch its EQ electric-vehicle brand with the EQC SUV in 2019.
The EQC may be able to go from 0-60 mph in under five seconds.
The automaker has said the concept version of the EQC has a range of 310 miles and the ability to 0-60 mph in less than five seconds.
12. Mercedes-Benz EQA
In addition to the EQC, Mercedes-Benz has shown a concept for a compact electric car, called the EQA.
The EQA concept has a little under 250 miles of range.
The concept has two motors, all-wheel-drive, and can accelerate from 0-60 mph in around 5 seconds. While Mercedes-Benz has not indicated when a production version of the EQA will arrive, the company has said it plans to invest $11 billion in electric vehicles by 2022, which suggests a production EQA could be on the horizon
13. Mercedes-Benz EQS
Michael Kelz, a Mercedes-Benz chief engineer, told Autocar in April that Mercedes-Benz will make an electric sedan under the EQ brand.
The EQS will not be based on the S-Class.
Kelz said the EQS will not be a variant of the S-Class, which is pictured above. He also said the EQS could arrive as soon as 2020, but will be available no later than 2022.
14. Tesla Roadster
Tesla revealed its new Roadster in November 2017. The company said the car will be available in 2020.
The car will be incredibly fast, Tesla says.
Tesla said the base version of the vehicle will be able to accelerate from 0-60 mph in 1.9 seconds, reach a top speed of 250 mph, and drive 620 miles per charge. Elon Musk said a premium version with a SpaceX upgrade package will include around 10 small rocket thrusters that will improve the vehicle's acceleration, maximum speed, braking, and handling.
15. Nissan IDS
Nissan hopes to have the self-driving technology for its electric, autonomous IDS ready by 2020, which means we could see the IDS by 2025.
The IDS will have a steering wheel that turns into a tablet.
Drivers will have the option to drive the car manually or have it drive autonomously. In its autonomous driving mode, the steering wheel folds into the dashboard and is replaced by a tablet that can be used to control an enormous touchscreen.
16. 2018 Chevy Bolt
General Motors surprised many in 2015 by releasing an affordable electric vehicle, the Chevy Bolt, before Tesla.
The 2018 Bolt is slightly different than the 2017 model.
New features include a heated steering wheel and sliding sun visor for the driver and front passenger.
17. BMW Mini E
BMW has said it will launch 12 electric cars by 2025, including its Mini E, which is scheduled to hit dealerships in 2019.
BMW hasn't released many details about the car.
While the company hasn't released specs for the car, we do know that, unlike previous models, the Mini E won't have any chrome.
18. Volvo Polestar 2
Volvo design chief Thomas Ingenlath told Autocar in June that Volvo will release the Polestar 2 in 2019.
The Polestar 2 will have 350 miles of range, Volvo says.
The Polestar 2 will follow the high-end Polestar 1 hybrid coupe, pictured above, and start around $40,000. It will have up to 405 horsepower and up to 350 miles in range, Ingenlath said.
19. Volvo XC40
Ingenlath also told Autocar that Volvo will release an electric version of its XC40 SUV "very soon" after the Polestar 2. The gas-powered version of the XC40 is pictured above.
Volvo will make a plug-in hybrid version of the XC40.
Volvo hasn't yet revealed the hybrid's specs. In April, the company said it is aiming for fully-electric cars to account for 50% of its sales by 2025.
20. Fisker EMotion
Fisker hopes to release its EMotion electric car by late 2019.
The company says the car will have incredible specs.
The EMotion will be able to travel more than 400 miles per charge, accelerate from 0-60 mph in under three seconds, and reach a top speed of 160 mph, Fisker says.
21. Faraday Future FF 91
While Faraday Future has struggled to raise money, the company has said its FF 91 could ship by the end of this year. That timeline seems unlikely at this point.
The company has said the vehicle will be incredibly powerful.
Faraday Future says the FF91 will have 3 motors, 1050 horsepower, and a 0-60 mph time of 2.39 seconds.
22. Subaru's all-electric crossover
Subaru may release an all-electric crossover by 2021, but very little is known about the car at the moment. In August 2016, a Subaru spokesperson told Automotive News that if the company ends up building an electric car, it would probably build it on its Global Platform, like the 2017 Subaru Impreza, pictured above.
The company's first plug-in hybrid will arrive near the end of this year.
Subaru said in May that the Crosstrek Hybrid, the company's first plug-in hybrid vehicle, will arrive near the end of this year.
23. BMW iX3
BMW revealed its iX3 electric SUV concept in April at the Beijing Auto Show and plans to start making a production version of the vehicle in 2020.
BMW says the iX3 will have over 249 miles of range.
BMW says the iX3 will have a range of over 249 miles per charge and a motor that can produce over 270 horsepower.
24. GM Cruise AV
General Motors announced an electric, self-driving vehicle from its Cruise division in January. The company plans to release the vehicles as part of an autonomous ride-hailing service in 2019.
The vehicle will represent a big step forward for GM.
The self-driving car will have no pedals or steering wheel, and customers will be able to request rides in them with their phones.
25. Byton M-Byte
Chinese startup Byton unveiled a concept for its electric M-Byte SUV in January. Byton co-founder Daniel Kirchert told Business Insider the M-Byte will arrive in 2019.
The M-Byte has a unique interior.
In place of a traditional dashboard, the M-Byte concept — which Kirchert said represents around 80% of the production version — has a 49-inch touchscreen, as well as touchscreens on the steering wheel and the backs of the front seats. The M-Byte also has individually-adjustable seats, gesture control features, and onboard Wi-Fi.
26. Byton K-Byte
Byton will bring its K-Byte electric sedan to market in 2021.
Byton prioritizes interior features over performance specs.
Kirchert said performance metrics are secondary to interior features like cabin space, touchscreens, and adjustable seats, and their ability to make a ride more comfortable. He also said the K-Byte will have between 250-325 miles of range, depending on the trim.
27. Hyundai Kona Electric
Hyundai will bring its Kona Electric crossover SUV to the US in the fourth quarter of this year.
The Kona Electric has impressive range.
The Kona will have 258 miles of range, according to the Environmental Protection Agency. It will also have driver-assistance features that can help avoid accidents and keep the car in its lane.
28. Ford's electric crossover
Ford has said it will release an all-electric crossover by 2020.
The crossover doesn't have a name yet, but the company claims it will have an impressive range.
Ford's former North American president, Raj Nair, told Business Insider in 2017 that the vehicle will have over 300 miles of range and be "affordable."
"To get electrification volumes where we would all like them to be we have to make sure we make the affordability targets or otherwise they are going to stay as a niche item or a pure luxury item," he said.
29. SF Motors SF5
Startup SF Motors unveiled its plans to make electric SUVs at the New York International Auto Show in March.
The SF5 may have up to 1,000 horsepower.
It will start with the SF5, which the company plans to start producing in 2019. SF Motors says customers will have the opportunity to equip the car with up to four motors and 1,000 horsepower.
30. Rimac C_Two
Rimac will start production for an all-electric supercar, the C_TWO, in 2020.
31. The C_Two has breathtaking specs.
The C_Two will have 1,914 horsepower, a 403-mile range, a top speed of 258 mph, and the ability to accelerate from 0-60 mph in 1.85 seconds.
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From a single Elon Musk tweet, the keys to Tesla+ACYAIw-039+ADs-s India strategy
From a single Elon Musk tweet, the keys to Tesla+ACYAIw-039+ADs-s India strategy
+ADw-div class+AD0AIg-group+ACIAPg +ADw-p+AD4-Tesla CEO Elon Musk’s latest comments on an India venture caught many Tesla watchers by surprise.+ADw-/p+AD4
+ADw-p+AD4-In a Twitter interaction with a Tesla fan from India on May 30, Musk indicated it was the company’s Indian-born chief financial officer, Deepak Ahuja, who was really calling the shots on +ADw-a class+AD0AIg-inline+AF8-quotes+ACI…
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newssplashy · 6 years
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Tech: 30 electric cars you'll see on the road by 2025
While electric vehicles aren't posting big sales numbers yet, auto companies are making significant investments in them. Both new companies like Tesla and Byton and traditional car manufacturers like Ford and Mercedes-Benz plan to release electric vehicles in the near future.
While electric vehicles aren't posting big sales numbers yet, auto companies are making significant investments in them.
Both new and traditional car manufacturers plan to release electric vehicles in the coming years.
Some of the vehicles have specs and tech features that exceed most gas-powered cars.
While electric vehicles still represent a very small percentage of global car sales, automotive companies have made significant investments in them. As governments move to increase emissions standards, even traditional manufacturers anticipate electric vehicles playing a big role in the near future.
These are 30 electric cars you can expect to see by 2025:
1. Porsche Taycan
Porsche will begin production on the Taycan, which is expected to start around $75,000, in 2019.
Porsche says it will have over 300 miles of range.
Porsche has said the Taycan will have a range of over 300 miles per charge, over 600 horsepower, and the ability to accelerate from 0-60 mph in less than 3.5 seconds.
2. Volkswagen I.D. Buzz
Volkswagen is revamping its iconic minibus with the I.D. Buzz, which will hit dealerships in 2022.
The van will have a customizable interior.
It will feature seats that can move and rotate on tracks in the floor, allowing owners to set up the interior for a variety of purposes.
3. Volkswagen I.D. Crozz
Volkswagen will release its I.D. crossover SUV in 2020.
Volkswagen says the vehicle will have a range of up to 300 miles.
The ID Crozz will have two motors, 302 horsepower, and the ability to drive up to 300 miles per charge, Volkswagen has said.
4. Volkswagen I.D.
In addition to the Crozz, Volkswagen also plans to release an electric compact car, the I.D., in 2020.
Volkswagen says the I.D. will have a range of up to 373 miles.
Volkswagen has said the I.D. will have 168 horsepower and a range between 249 and 373 miles.
The ID will be in the same price range as a Golf with similar specs and features. The Golf currently starts at a little over $20,000.
5. Jaguar I-Pace
Jaguar will release its first fully-electric vehicle, the I-Pace, during the second half of this year.
Jaguar says the I-Pace has the kind of performance specs you'd expect from a luxury brand.
Designed as a competitor to Tesla's Model X, the I-Pace will have 394 horsepower, 512 pound-feet of torque, up to 240 miles of range and the ability to accelerate from 0-60 mph in 4.5 seconds, according to Jaguar.
6. 2018 Nissan Leaf
Nissan released a new version of the Leaf this year.
The 2018 Leaf has a 151-mile range.
The 2018 Leaf has a 151-mile range, 147 horsepower, and the ability to receive 90 miles of charge in 30 minutes with a DC fast-charger.
7. Aston Martin RapidE
Aston Martin will make only 155 RapidE sedans, which will be sold in 2019.
Aston Martin says the car will outdo Tesla.
The luxury car will cost $255,000, and Aston Martin's CEO says it will be superior to any of Tesla's offerings.
8. Tesla Model Y
While Tesla hasn't announced a definite release date for its upcoming Model Y SUV, CEO Elon Musk has said production will begin in 2020.
Musk said the Model Y will be a "manufacturing revolution."
During Tesla's first-quarter earnings call in May, Musk said the Model Y will transform Tesla's manufacturing process.
"I think Model Y is going to be a manufacturing revolution," he said.
Tesla released a video in May that included a glimpse of a vehicle that may be the Model Y. The vehicle in question is pictured above.
9. Tesla pickup truck
Musk has said Tesla will release a pickup truck after the Model Y.
Musk offered a few details about the truck in June.
Musk said standard features will include "crazy" torque, two motors, all-wheel-drive, and a suspension that is able to adjust to the load the vehicle is hauling. He also said it would have 360-degree cameras, sonar, and the ability to parallel park on its own.
10. Audi e-tron
Audi says it will start delivering the e-tron to US customers in early 2019.
The e-tron will have just under 250 miles of range, Audi says.
Audi has said the e-tron will have a range of over 248 miles per charge, 221 pound-feet of torque, and the ability to accelerate from 0-60 mph in under six seconds.
11. Mercedez-Benz EQC
Mercedes-Benz will launch its EQ electric-vehicle brand with the EQC SUV in 2019.
The EQC may be able to go from 0-60 mph in under five seconds.
The automaker has said the concept version of the EQC has a range of 310 miles and the ability to 0-60 mph in less than five seconds.
12. Mercedes-Benz EQA
In addition to the EQC, Mercedes-Benz has shown a concept for a compact electric car, called the EQA.
The EQA concept has a little under 250 miles of range.
The concept has two motors, all-wheel-drive, and can accelerate from 0-60 mph in around 5 seconds. While Mercedes-Benz has not indicated when a production version of the EQA will arrive, the company has said it plans to invest $11 billion in electric vehicles by 2022, which suggests a production EQA could be on the horizon
13. Mercedes-Benz EQS
Michael Kelz, a Mercedes-Benz chief engineer, told Autocar in April that Mercedes-Benz will make an electric sedan under the EQ brand.
The EQS will not be based on the S-Class.
Kelz said the EQS will not be a variant of the S-Class, which is pictured above. He also said the EQS could arrive as soon as 2020, but will be available no later than 2022.
14. Tesla Roadster
Tesla revealed its new Roadster in November 2017. The company said the car will be available in 2020.
The car will be incredibly fast, Tesla says.
Tesla said the base version of the vehicle will be able to accelerate from 0-60 mph in 1.9 seconds, reach a top speed of 250 mph, and drive 620 miles per charge. Elon Musk said a premium version with a SpaceX upgrade package will include around 10 small rocket thrusters that will improve the vehicle's acceleration, maximum speed, braking, and handling.
15. Nissan IDS
Nissan hopes to have the self-driving technology for its electric, autonomous IDS ready by 2020, which means we could see the IDS by 2025.
The IDS will have a steering wheel that turns into a tablet.
Drivers will have the option to drive the car manually or have it drive autonomously. In its autonomous driving mode, the steering wheel folds into the dashboard and is replaced by a tablet that can be used to control an enormous touchscreen.
16. 2018 Chevy Bolt
General Motors surprised many in 2015 by releasing an affordable electric vehicle, the Chevy Bolt, before Tesla.
The 2018 Bolt is slightly different than the 2017 model.
New features include a heated steering wheel and sliding sun visor for the driver and front passenger.
17. BMW Mini E
BMW has said it will launch 12 electric cars by 2025, including its Mini E, which is scheduled to hit dealerships in 2019.
BMW hasn't released many details about the car.
While the company hasn't released specs for the car, we do know that, unlike previous models, the Mini E won't have any chrome.
18. Volvo Polestar 2
Volvo design chief Thomas Ingenlath told Autocar in June that Volvo will release the Polestar 2 in 2019.
The Polestar 2 will have 350 miles of range, Volvo says.
The Polestar 2 will follow the high-end Polestar 1 hybrid coupe, pictured above, and start around $40,000. It will have up to 405 horsepower and up to 350 miles in range, Ingenlath said.
19. Volvo XC40
Ingenlath also told Autocar that Volvo will release an electric version of its XC40 SUV "very soon" after the Polestar 2. The gas-powered version of the XC40 is pictured above.
Volvo will make a plug-in hybrid version of the XC40.
Volvo hasn't yet revealed the hybrid's specs. In April, the company said it is aiming for fully-electric cars to account for 50% of its sales by 2025.
20. Fisker EMotion
Fisker hopes to release its EMotion electric car by late 2019.
The company says the car will have incredible specs.
The EMotion will be able to travel more than 400 miles per charge, accelerate from 0-60 mph in under three seconds, and reach a top speed of 160 mph, Fisker says.
21. Faraday Future FF 91
While Faraday Future has struggled to raise money, the company has said its FF 91 could ship by the end of this year. That timeline seems unlikely at this point.
The company has said the vehicle will be incredibly powerful.
Faraday Future says the FF91 will have 3 motors, 1050 horsepower, and a 0-60 mph time of 2.39 seconds.
22. Subaru's all-electric crossover
Subaru may release an all-electric crossover by 2021, but very little is known about the car at the moment. In August 2016, a Subaru spokesperson told Automotive News that if the company ends up building an electric car, it would probably build it on its Global Platform, like the 2017 Subaru Impreza, pictured above.
The company's first plug-in hybrid will arrive near the end of this year.
Subaru said in May that the Crosstrek Hybrid, the company's first plug-in hybrid vehicle, will arrive near the end of this year.
23. BMW iX3
BMW revealed its iX3 electric SUV concept in April at the Beijing Auto Show and plans to start making a production version of the vehicle in 2020.
BMW says the iX3 will have over 249 miles of range.
BMW says the iX3 will have a range of over 249 miles per charge and a motor that can produce over 270 horsepower.
24. GM Cruise AV
General Motors announced an electric, self-driving vehicle from its Cruise division in January. The company plans to release the vehicles as part of an autonomous ride-hailing service in 2019.
The vehicle will represent a big step forward for GM.
The self-driving car will have no pedals or steering wheel, and customers will be able to request rides in them with their phones.
25. Byton M-Byte
Chinese startup Byton unveiled a concept for its electric M-Byte SUV in January. Byton co-founder Daniel Kirchert told Business Insider the M-Byte will arrive in 2019.
The M-Byte has a unique interior.
In place of a traditional dashboard, the M-Byte concept — which Kirchert said represents around 80% of the production version — has a 49-inch touchscreen, as well as touchscreens on the steering wheel and the backs of the front seats. The M-Byte also has individually-adjustable seats, gesture control features, and onboard Wi-Fi.
26. Byton K-Byte
Byton will bring its K-Byte electric sedan to market in 2021.
Byton prioritizes interior features over performance specs.
Kirchert said performance metrics are secondary to interior features like cabin space, touchscreens, and adjustable seats, and their ability to make a ride more comfortable. He also said the K-Byte will have between 250-325 miles of range, depending on the trim.
27. Hyundai Kona Electric
Hyundai will bring its Kona Electric crossover SUV to the US in the fourth quarter of this year.
The Kona Electric has impressive range.
The Kona will have 258 miles of range, according to the Environmental Protection Agency. It will also have driver-assistance features that can help avoid accidents and keep the car in its lane.
28. Ford's electric crossover
Ford has said it will release an all-electric crossover by 2020.
The crossover doesn't have a name yet, but the company claims it will have an impressive range.
Ford's former North American president, Raj Nair, told Business Insider in 2017 that the vehicle will have over 300 miles of range and be "affordable."
"To get electrification volumes where we would all like them to be we have to make sure we make the affordability targets or otherwise they are going to stay as a niche item or a pure luxury item," he said.
29. SF Motors SF5
Startup SF Motors unveiled its plans to make electric SUVs at the New York International Auto Show in March.
The SF5 may have up to 1,000 horsepower.
It will start with the SF5, which the company plans to start producing in 2019. SF Motors says customers will have the opportunity to equip the car with up to four motors and 1,000 horsepower.
30. Rimac C_Two
Rimac will start production for an all-electric supercar, the C_TWO, in 2020.
31. The C_Two has breathtaking specs.
The C_Two will have 1,914 horsepower, a 403-mile range, a top speed of 258 mph, and the ability to accelerate from 0-60 mph in 1.85 seconds.
source http://www.newssplashy.com/2018/08/tech-30-electric-cars-youll-see-on-road.html
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newssplashy · 6 years
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Microsoft is reportedly being investigated by US authorities for potential bribery and corruption in Hungary, leaked documents and interviews show Facebook's struggle to moderate two billions accounts, and Lisa Brennan-Jobs revealed more details from her memoir about life with her father Steve Jobs.
Good morning! This is the tech news you need to know this Friday.
1. Microsoft is reportedly being investigated by US authorities for potential bribery and corruption over software sales in Hungary. The Department of Justice and SEC are probing how the company sold software like Word and Excel to firms who then sold them on to Hungarian government agencies, the Washington Post reports.
2. Leaked documents and interviews show Facebook's struggle to moderate two billion accounts. A large-scale Motherboard investigation dove into the heart of Facebook's moderation struggles.
3. Lisa Brennan-Jobs revealed more details from her memoir about life with her father Steve Jobs. A new memoir titled "Small Fry," written by Steve Jobs' daughter, Lisa Brennan-Jobs, provides a brutal window into the Apple cofounder's relationship with his child.
4. Facebook has hired a new CMO to try and repair its image after its scandal-filled year. Facebook has hired a new Chief Marketing Officer (CMO), Antonio Lucio who previously held the same role at HP, and was at Visa and Pepsi before that.
5. Sony is relaunching the "Aibo" robot dog released in 1999, and it says the new version uses 'deep learning' and has cloud-based memories. The "Aibo" was originally discontinued in 2006, this is an updated model of the robot dog companion, which saw a release in Japan last year.
6. A ton of Tesla employees are getting poached by Apple, once dubbed the "Tesla Graveyard" by Elon Musk. Tesla and Apple compete for the same talent in fields like software, batteries, supply chain, and mechanical engineering.
7. It looks like Microsoft is planning a new 'Xbox All Access' monthly subscription which includes a console. According to Windows Central and The Verge, the subscription would include an Xbox console, Xbox Live Gold and Xbox Game Pass subscriptions — and it would be cheaper than buying each item individually.
8. Russian trolls were discovered to be "spreading discord" about vaccinations online. Researchers at George Washington University discovered the Russian accounts, which disseminated both pro- and anti-vaccine content.
9. The wood pellet salesman who spent more than three years as a fugitive after being charged with trying to defraud Mark Zuckerberg out of 50% of Facebook has been arrested in Ecuador. The New York man may be extradited.
10. Apple is making a TV show out of the book that inspired Elon Musk to go to space. The series will be based on "Foundation," a classic 1951 novel by Issac Asimov, which is considered a cornerstone of science-fiction.
Have an Amazon Alexa device? Now you can hear 10 Things in Tech each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.
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newssplashy · 6 years
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ARK Investment Management said in an open letter that Elon Musk's thesis that private markets will be less short-sighted than public ones is wrong, and that the stock markets is currently undervaluing Tesla's potential.
An investment firm with a $164 million stake in Tesla is urging Elon Musk to not take the company private.
ARK Investment Management says Tesla's stock price could be worth $4,000, but will never get there on private markets.
Watch Tesla trade in real-time here.
ARK Investment Management — which owns 580,000 shares of Tesla, worth roughly $163.84 million — has published an open letter to CEO Elon Musk urging him to not take the electric-car maker private, arguing the stock could be worth nearly ten times the billionaire's $420 target.
"Tesla should be valued somewhere between $700 and $4,000 per share  in five years," Cathie Wood, the firm's founder and chief executive, said.
"Taking Tesla private today at $420 per share would undervalue it greatly, depriving many investors of the opportunity to participate in its success. In our view, given the right investment time horizon, TSLA is a deep value stock today."
Of course, there's a lot standing between Tesla and its stock being worth $4,000 a share.
ARK's investment thesis counts on the company fully transitioning from a manufacturer to a full-fledged "mobility-as-a-service" company. When it reaches that point, ARK estimates, its profit margins could be as much as 80%. In it's most recent quarterly filing this month, Tesla reported total gross margins of 15%.
"In the $4,000 scenario, our assumptions are conservative: we incorporate profits only from cars and certain autonomous taxi networks, not from trucks, drones, utility scale energy storage, or the MaaS opportunity in China," ARK, which manages $5.9 billion, wrote.
"Further, we incorporate the roughly $20 billion in dilution that might be necessary to penetrate and scale the latter four markets."
For context, Tesla's average price target among sell-side research analysts is $333, according to Bloomberg. Even the most bullish analyst on Wall Street, Pierre Ferragu of New Street Research, has a target of $533 — a little more than one-eighth of ARK's target.
Musk has argued that going private will ease the burden and shortsightedness that comes from analysts and investors every quarterly earnings report, but ARK argues the opposite will be true.
"I understand why you may want to take Tesla private, but I must try to dissuade you," the letter says.
"First, as a private company, Tesla will be unable to capitalize on its competitive advantages as rapidly and dramatically as it would as a public company, an important consideration given the network effects and natural geographic monopolies to which autonomous taxi and truck networks will submit.
"Second, in the private market, Tesla would lose the free publicity associated with your role as the CEO of the public company not only with the bestselling mid-sized premium sedan in the US, but also arguably in the best position to launch a completely autonomous taxi network nationwide in the next few years."
Shares of Tesla have whipsawed since August 7, the date of Musk's initial announcement that he would attempt to take Tesla private. After soaring to near-record highs of $389, shares fell back below $300 amid reports of a subpoena from the Securities and Exchange Commission and a slew of class-action lawsuits. It's currently trading near $321.
Bloomberg reported Thursday that Musk has hired Morgan Stanley in his bid to take Tesla private. That follows the bank's analyst, Adam Jonas, suspending coverage of the stock on Tuesday, which is typical when a bank's investment banking division is involved in a deal with a company covered by its research department. Goldman Sachs suspended coverage on August 15, admitting that it is involved in the deal in some capacity.
"As public equity markets continue to go passive, I believe we are witnessing a massive misallocation of capital, with innovation the most inefficiently priced part of the market," ARK said.
"Tesla epitomizes this capital allocation problem and, when the market understands it, your stock should enjoy significant upside, serving as a valuable lesson for public market investors to reconsider their short-sighted ways."
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Travis Kalanick, the chief executive of ride-sharing service Uber, has stepped down from President Donald Trump's economic advisory group after strong criticism from staff and the public. The board, which also counts Tesla chief executive Elon Musk as a member, is due to meet the president on Friday. Uber is one of several technology firms concerned over the impact of the immigration ban on its workforce. via Snapzu : Business & Economy
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