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Tesla has fired hundreds of employees after performance reviews

Tesla fired hundreds of employees following what the company said is an annual performance review process, the company told TechCrunch. The news was first reported by The Mercury News. “Like all companies, Tesla conducts an annual performance review during which a manager and employee discuss the results that were achieved, as well as how those results were achieved, during the performance period,” a Tesla spokesperson said. “This includes both constructive feedback and recognition of top performers with additional compensation and equity awards, as well as promotions in many cases. As with any company, especially…

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Tesla lowers Model X base price due to improved margins

Tesla has lowered the entry-level price of the Model X SUV, from $82,500 to $79,500. The $3,000 price drop is the result of improved margins for the electric vehicle, which the company achieved thanks to efficiencies achieved in the manufacturing process, Reuters reports. Teslas Model X and Model S sales performance were areas of key interest during the companys earnings report this past week, since analysts had anticipated that the Model 3 and its attractive price point could potentially drive down demand for the more expensive existing vehicles in Teslas…

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Crunch Report | SpaceX Falcon Heavy launch Planned for November

Smallest spacecraft ever launched make it to low-earth orbit Stitch Fix has confidentially filed for an IPO Credits Written by: Tito Hamze, John MannesHosted by: Tito HamzeFilmed by:Joe ZolnoskiEdited by: Veanne Cao Notes: I dont know what to wear on Crunch Report (Its a hard decision and I suck at dressing myself). If you are a startup andwant to me to wear something mail me an XL T-shirt and Ill wear it in an episode. Im not going to mention the company on the shirt in the episode but it…

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Everything you want to know about the Tesla Model 3

The Tesla Model 3 is now a known quantity we have information about the different kit options available at launch, as well as interior and exterior measurements, and car performance and cabin comforts. Tesla CEO Elon Musk said that the whole point was to make car that is the best car, hands down, for anything close to the same cost, and it makes a strong case for that on paper. The Model 3 starts at $35,000, as previously announced, but now we know exactly what that will get you. Heres…

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Tesla is focused on Model 3 production challenges at launch

Tesla revealed more about its brand-new Model 3 than it ever has before just in time for the first deliveries to customers. We know the details of pricing and available options, as well as a bit about how Tesla plans to scale to an annual run rate of 500,000 vehicles produced per year, hopefully by the end of 2018. The major challenge we faced with the Model 3 is not really the product, Tesla CEO Elon Musk noted in a pre-event briefing to press, qualifying that they nonetheless spent a…

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Your smartphone is the key for the Tesla Model 3

The Tesla Model 3 is unique in a lot of ways, but one of the more interesting is its use of your smartphone as the only key theres not fob, even, let alone an ignition for a traditional key. The vehicle uses the Tesla app on your smartphone to communicate your identity, unlock the vehicle, and know when its ready to start and turn off. The Model 3 uses Bluetooth LE to talk to your device so that it knows youre there, and in case youre ever in need of…

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Teslas Top 10 Project Loveday videos reveal truly dedicated fans

Tesla is holding a video contest at the suggestion of a 10-year old fan named Bria Loveday, who asked the automaker to hold a competition among fans to see which ones could create the best videos celebrating their Tesla love. The submissions are all in, and Tesla is set to reveal its top 3 picks at Fridays special Model 3 event at its headquarters in California. The top 10 video finalists are already selected, however, and Tesla tweeted them out on Wednesday to give people a taste of the best…

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Tesla adds James Murdoch and Linda Johnson Rice to its board

Tesla has added two new independent directors to its board, including 21st Century Fox CEO James Murdoch and Johnson Publishing Company CEO and Chairman Linda Johnson Rice. The two new board members were added just a few months after Tesla confirmed it was seeking additional independent directors without ties to CEO and founder Elon Musk. Until now, Teslas board included five (of six total directors, prior to these additions) people with either personal or professional ties to Musk. A group of powerful investors in the company, including the California State…

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Take a look at the very first production Tesla Model 3

Its here: The first ever production Model 3 has rolled off Teslas assembly line and into the possession of its owner Elon Musk. The founder and CEO tweeted pictures of the new vehicle, which he only got because the actual first pre-order customer gifted Musk his place in the queue as a birthday present. Alongside the pics, Musk tweeted an interesting bit of trivia about who gets dibs on the first edition of any new Tesla car: Its the first person who pays full price for the vehicle. Musk earned…

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Crunch Report | Comma.ai Launches Panda

Comma.ai launches an $88 universal car interface called Panda Tesla will build worlds largest battery storage facility for Australian wind farm Credits Written by: Tito Hamze, John MannesHosted by: Tito HamzeFilmed by:Joe ZolnoskiEdited by: Chris Gates Notes: I dont know what to wear on Crunch Report (Its a hard decision and I suck at dressing myself). If you are a startup andwant to me to wear something mail me an XL T-shirt and Ill wear it in an episode. Im not going to mention the company on the shirt in…

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Tesla will build worlds largest battery storage facility for Australian wind farm

Tesla will up its game in the renewable energy storage market with the largest lithium-ion battery storage facility in the world, to be built for Australias Hornsdale Wind Farm, with a completion date of December 1, 2017. The facility will use Teslas commercial battery storage Powerpack modules to deliver a capacity of 100 MW/129 MWh, which will store energy generated from the farms turbines during peak generation hours, and make it available consistently throughout the day when the grid needs it. This system will be able to power around 30,000…

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These cities in Californias East Bay are raking in venture capital

Joanna Glasner is a reporter for Crunchbase. More posts by this contributor: Not a minimalist? Startups will gladly store, manage and deliver your items The state of the unicorn Most Americans have never heard of Emeryville, California. Those who have probably know it as a place where they got stuck on a traffic-clogged stretch of highway overlooking a giant IKEA. Yet Emeryville, a largely concrete-surfaced city covering all of two square miles, has a lot more entrepreneurial clout than meets the eye. Companies in this San Francisco Bay Area city of around…

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Tesla said to be in talks to create its own streaming music service

Tesla might be a music service operator soon, in addition to a maker of electric cars and solar energy products. Thats according to a new report from Recode, which says that Tesla has been talking to music labels to make this happen. The planned offering could start with a free, Pandora-like streaming radio option, which theoretically would be tied to Tesla vehicle ownership, one imagines. This sounds like a bizarre road for Tesla to take, but founder and CEO Elon Musk hinted that the company was exploring music products at…

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