Musk to review all of Tesla's expenses in new cost cutting plan

18 May, 2019, 04:41 | Author: Regina Silva
  • Tesla is making roadkill of competitors – even in China

Nevertheless, the California-based electric auto maker had entered into the solar panel business back in 2016 following Tesla head, Elon Musk's controversial acquisition of the loss-making SolarCity.

Tesla Inc. chief executive Elon Musk told employees he will increase scrutiny of the company's expenses in a bid to cut costs, Reuters reports.

In an email seen by the newswire, Musk warned staff: "That is why, going forward, all expenses of any kind anywhere in the word [sic], including parts, salary, travel expenses, rent, literally every payment that leaves our bank account must (be) reviewed".

"When your revenues aren't improving, you have to look at other ways to boost the bottom line, and that's continued cost cutting", said CFRA Research analyst Garrett Nelson. "It raises a lot of red flags".

After the National Transportation Safety Board linked Autopilot to a fatal crash in March, Consumer Reports called for Tesla to make immediate changes to restrict drivers from using the system in unsafe conditions, and said the company needs to more effectively monitor driver engagement.

Scientists create first smartphone app that can 'hear' ear infections in children
About half were scheduled to undergo surgery to place tubes in their ears, a common treatment for chronic fluid buildup. The 150-millisecond audio clip resembles a bird chirping and was found to be effective in the researcher's work.


Fernando Alonso Crashes McLaren at Over 220 MPH During Indy 500 Practice
It's not a bad start. "I'm sorry for the team and the guys that have to work a lot now". Practice continues this week, and qualifying is this weekend.


BTS Dress Up Like the Beatles on 'Late Show With Stephen Colbert'
BTS is now the "new batch of mop-topped heartthrobs" from "across the pond... the big one, the one with Hawaii in the middle". TV performance back on February 9, 1964 on Sullivan's show, when the mop-haired band kicked off Beatlemania.


The Verge notes that this crash is at least the fourth fatal incident involving a Tesla vehicle with Autopilot enabled. The first of these came in 2016 when Joshua Brown was killed in his Model S after it collided with a semi-trailer truck.

The vehicle drove beneath the trailer, killing the driver, in a crash that is strikingly similar to one that happened on the other side of Florida in 2016 that also involved use of Autopilot.

"We are deeply saddened by this accident and our thoughts are with everyone affected by this tragedy".

As was the case a little over a year ago, Tesla is also dealing with criticism of Autopilot following the death of a customer using the driver-assistance system.

Recommended:



Popular

Faulty Pixel users to get up to $500 from Google
The unlucky customers who experienced the problem a few times because of faulty replacements are the ones who can claim $500. A final decision will be made by the courts on 5 June, and if the deal is approved Google will start splashing the cash.

BC Government Calls Public Inquiry into Money Laundering that has National Implications
By this measure, B.C. ranked fourth for money laundering among six regions in Canada. The methodologies and data used are far from accurate, however, as the report noted.

Tiger Woods, girlfriend named in wrongful death suit
Immesberger used to be served wrong quantities of alcohol sooner than the December 10 automobile crash. He later drove back home and on his way lost control of his vehicle .

Tesla to update battery software after recent car fires
Earlier this week, the Apple Daily newspaper in Hong Kong reported that a Tesla Model S caught fire in a parking structure. Hong Kong's Fire Services Department has confirmed it's investigating a fire, without identifying the make of the auto .

Britain's May to agree departure after latest Brexit deal bid
Parliament usually returns in the second week of October, less than four weeks before Britain is due to leave the EU. Borris Johnson, who helped lead the campaign for Brexit, said Thursday he would stand as a candidate to replace May.

Federer pulls out of Italian Open with leg injury
That's why I'm kind of confused right now because I literally woke up in the morning and couldn't move my thumb. Osaka also withdrew before a semifinal in Stuttgart, Germany, last month due to an abdominal injury.

In Asia’s first, Taiwan’s parliament legalizes same-sex marriage
But the vote establishes full legal marriage rights in terms of insurance, taxes and child custody, The Associated Press reports . The public's disapproval could spell trouble for Tsai's bid for re-election in January.

Galaxy S10 5G now available at Verizon, starting at $1,299
This will (hopefully) prevent users from peeling it off under the mistaken belief that it's an everyday screen protector. A new report from Yonhap News claims that the company is planning to tuck the protective display layer into the body.

Sony and Microsoft Partnering to ‘Enhance Customer Experiences’ Using the Cloud
Sony already has its own streaming service, PlayStation Now , which allows users to stream PS4 exclusives on their PC. Rivals Sony PlayStation and Microsoft Xbox are joining up forces to bring a better gaming experience to customers.

European Union fines five major banks 1 bn euros for currency collusion
The cartels were exposed by a sixth bank, UBS , which was named in the investigation but avoided a fine after blowing the whistle. Former US attorney general Loretta Lynch in 2015 said the banks engaged in a "brazen display of collusion" to game markets.