Saturday February 29, 2020
Home Lead Story Tesla Acquire...

Tesla Acquires Trucking Firms To Ensure Early Delivery of Model 3: Elon Musk

Musk, who was the Chairman of Tesla for three years, stepped down earlier in September

0
//
Tesla, board
Tesla to lay-off 7% full-time staff amid China dreams. Pixabay

Tesla has acquired trucking companies to ensure early delivery of Model 3 and help buyers get tax credits by the end of the year, the electric car company’s CEO Elon Musk said in a tweet on Friday.

Tesla had, originally, suggested that buyers who wanted to take advantage of the full $7,500 EV federal tax incentive would need to order their vehicles by October 15.

However, Tesla has reopened that window and extended it a fair bit.

“Tesla just acquired trucking capacity to ensure Model 3 can be delivered in US by December 31 if ordered by November 30,” Musk tweeted.

He explained that the automaker had “bought some trucking companies” and “secured contracts with major haulers” to avoid future logistical complications that have plagued Tesla as Model 3 deliveries rise dramatically.

That amounts to an extra six weeks of ordering time to take advantage of the $7,500 EV tax incentive before the phase-out begins for deliveries starting on January 1, CNET reported late on Thursday.

Buyers getting new Tesla delivery on or before December 31, will be eligible for the full $7,500 federal tax incentive.

Elon Musk, tesla
Tesla CEO, Elon Musk. (Wikimedia Commons)

For deliveries between January 1 and June 30, 2019, the incentive will be halved to $3,750, and it will further be halved for another six months before disappearing entirely.

Those waiting for the fabled $35,000 Model 3 will miss the full incentive, as the vehicle is on target for the first half of 2019, the report said.

While Tesla declined request for additional information, including the names of the acquired companies and those with which Tesla has secured contracts, Musk said that they are going to ship east with the trucks instead of trains, which is shortening the transit times by weeks.

“Skipping rail saves over a month for East Coast deliveries. All things considered, it’s better to use trucks. Single load or unload and direct to owner location,” Musk wrote.

Also Read- Google Rolls Out New System Update to “Wear OS”

Musk, who was the Chairman of Tesla for three years, stepped down earlier in September.

He paid a $20 million fine in a deal with the stock market regulatory authority, Securities and Exchange Commission (SEC) to resolve securities fraud charges.

Robyn Denholm from Telstra has been appointed as the Chairwoman of the Tesla Board. Musk, however, remains as Tesla’s chief executive and the biggest investor. (IANS)

Next Story

SpaceX Run By Elon Musk Aims To Raise $250mn in New Funding For Hitting $36bn Valuation

SpaceX is preparing its Crew Dragon spacecraft to fly NASA astronauts Doug Hurley and Bob Behnken to and from the space station in the first flight. The uncrewed Demo-1 mission flew in March last year

0
SpaceX
The fundraising comes as SpaceX continues development on three important programmes: Crew Dragon, Starlink and Starship, reports CNBC. Wikimedia Commons

Elon Musk-run SpaceX is aiming to raise around $250 million in new funding that would bring the rocket launch company’s valuation to $36 billion.

The fundraising comes as SpaceX continues development on three important programmes: Crew Dragon, Starlink and Starship, reports CNBC.

The company raised $1.33 billion during 2019 and has raised more than $3 billion in funding to date.

The new round of funding could close sometime in the middle of next month.

SpaceX has received a $3.1 billion contract award as part of NASA commercial crew programme. It charges its customers nearly $60 million per launch of one of its Falcon 9 rockets and had 13 such launches in 2019.

Ahead of its launch of astronauts to the International Space Station (ISS) aboard its Crew Dragon capsule which is tentatively scheduled for May 7, SpaceX has hired a top former human spaceflight expert.

In his new role, William Gerstenmaier, the former leader of NASA’s human spaceflight programme, is reporting to SpaceX Vice President of mission assurance Hans Koenigsmann.

Elon Musk
Elon Musk-run SpaceX is aiming to raise around $250 million in new funding that would bring the rocket launch company’s valuation to $36 billion. Wikimedia Commons

SpaceX is preparing its Crew Dragon spacecraft to fly NASA astronauts Doug Hurley and Bob Behnken to and from the space station in the first flight. The uncrewed Demo-1 mission flew in March last year.

“We’re highly confident that the hardware will be ready in Q1, most likely at the end of February but no later than March. And we think it appears probable that the first crewed launch would occur in the second quarter,” said Musk after the successful uncrewed test of its Crew Dragon capsule’s in-flight launch escape capabilities last month.

ALSO READ: Children Who Consume Whole Milk Are Less Likely To Be Overweight: Study

Musk said that if all goes well, the first crewed flight on the Crew Dragon could take place in the second quarter of this year. (IANS)