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SEC Amps Up Investigation of Tesla After Musk’s Buyout Tweet

Moving to "Private" mode.

by on Aug.09, 2018

Tesla CEO Elon Musk's tweets about taking the company private and having the funding to do it has the SEC's attention.

The Securities and Exchange Commission is ramping up its investigation of Tesla Inc. in light of CEO Elon Musk’s recent tweets about taking the company private at $420 a share.

More precisely, they are interested in his assertion that he already has the funding in place. According to a Bloomberg report, the SEC’s San Francisco office was already investigating the company and the recent round of tweets escalated its interest.

News Now!

Though it is not illegal for company officials to use to promote Tesla, talking about potential buyout prices and issuing other proclamations that could artificially alter the California-based EV maker’s stock price could be reason for an investigation and ultimately charges. (more…)

Infiniti Set to Reveal “Electrified” Concept at Pebble Beach

Show car will “underline the electrified performance theme."

by on Aug.09, 2018

Infiniti is offering a tease of its Pebble Beach Concept.

It’s going to be a busy week when everyone starts rolling into California for the week-long celebration leading up to the annual Pebble Beach Concours d’Elegance. Automakers from around the world are promising to use the Concours and related events as backdrop to unveil an array of production cars and concepts later this month.

That includes Infiniti which today dropped some hints about the electric luxury model it will launch on the Pebble Beach show. While the Nissan luxury brand is being coy about details, it hints that the show car will “underline the electrified performance theme” that it has announced for future products, virtually all models set to be offered with some form of battery-based drivetrain – with an emphasis on plug-in hybrids and pure battery-electric vehicles.

What a Concept!

“Our new concept provides clues to where the Infiniti brand is heading,” said the brand’s design director Karim Habib, in a statement accompanying this teaser image. “For us, electrification means performance – our electrified cars will be powerful, efficient, and a joy to drive, and the new concept is a physical representation of our electrified performance future.”

(more…)

Tesla Board Backs Consideration of Musk’s Privatization Plan

Six board members willing to look further at the plan.

by on Aug.08, 2018

Tesla's Elon Musk appears to have the support of the board of directors for his privatization plans.

Just a day after telling Tesla employees, and later the world via Twitter, that he wants to take the EV maker private, CEO Elon Musk appears to be getting support from his board of directors.

Six board members issued a statemen saying they were considering his proposal and that they’d met with him previously to explore the strategy, including “discussion as to how being private could better serve Tesla’s long-term interests.”

Dig Deeper!

Two other the board members, Kimball Musk, Elon’s brother, and Steve Jurvetson, a venture capitalist, were not part of the statement. Members of the board who signed the statement were Brad Buss, Robyn Denholm, Ira Ehrenpreis, Antonio Gracias, Linda Johnson Rice and James Murdoch. (more…)

First Drive: 2018 Cadillac Escalade

Once an add-on to the line-up, the luxury ute is now the icon.

by on Aug.03, 2018

Once almost an afterthought in Cadillac's line-up, the Escalade is now the brand's centerpiece.

It seems the Escalade has been the heart and soul of Cadillac’s line-up of luxury vehicles forever.

No other car or sport-utility vehicle comes close, in the mind of the broad public anyway, to representing Cadillac’s nameplate in any kind of meaningful way.

Reviews You Can Use!

I suspect this has caused no end of consternation in General Motors headquarters over the years because the Escalade seems to have been an afterthought by GM product planners who were thinking along the lines of up-level Chevrolet Suburban with a bright Cadillac badge. (more…)

Tesla’s Looking to Hire Designers — Video Game Designers

CEO Musk tweeted that V9.0 will have some Atari video games in it.

by on Aug.02, 2018

Tesla CEO Elon Musk took to Twitter to recruit new hires to the company: video game designers.

Tesla CEO Elon Musk is certainly known for his unconventional approach to his businesses, as well as his proclivity for espousing his ideas about them on Twitter.

Those two things met again recently when Musk put out a call to video game designers.

News You Can Trust!

“If you’re into video game development, consider applying to Tesla,” Musk tweeted Wednesday. “We want to make super fun games that integrate the center touchscreen, phone & car [in real life].” (more…)

European Automakers’ US Sales Fared Well in July

Mercedes-Benz still the luxury sales leader.

by on Aug.02, 2018

Mercedes-Benz saw sales fall more than 20% in July, but much of that was attributed to a computer problem during the company's busiest week.

With the threat of steep tariffs hanging over their heads, European carmakers enjoyed positive sales in July even though one of the leaders, Mercedes Benz, struggled a bit.

Mercedes-Benz USA reported July sales of 20,034, a decrease of 22.7% from July 2017 as archrival BMW sold more vehicles. Lexus appears to hold the lead in luxury segment with sales of 25,403 units, which dropped 12.1% on a volume basis.

Sales News!

Meanwhile, Mercedes-Benz Vans reported July sales increased 5.9%. On a year-to-date basis, sales of Mercedes-Benz vehicles totaled 178,882, giving it the lead in luxury vehicle sales for 2018. (more…)

First Drive: 2019 Aston Martin DBS Superleggera

The hills are alive with the sound of…a 715 hp V-12.

by on Aug.01, 2018

The Aston Martin DBS Superleggera becomes the 3rd in what will become a 7-model line-up.

We’re not quite at the top of the world, but from our perch high up in the quaint Bavarian mountain town of Berchtesgaden, one can see nearly forever. But it’s the guttural roar echoing off the steep and rocky Alpine cliffs that has caught our attention. Faint, at first, it grows ever louder, until the sleek GT coupe pops into view, racing through the mountain pass towards our hotel. The good news is that the driver will soon be handing us the keys to the 2019 Aston Martin DBS Superleggera, the car we’ve crossed an ocean to drive.

Low, wide and finished in what Aston dubs “satin xenon” paint, the Superleggera has an imposing presence. Not surprisingly, it bears a strong resemblance to the DB11 that came to market barely a year ago, as well as the more aggressive Aston Vantage that followed. Indeed, all three share their underlying platform, albeit with some notable revisions to DBS to handle its incredible power. It is, in fact, the third in what the British automaker promises will be a series of seven distinct models and, for at least the moment, replaces the familiar Vanquish nameplate – though there are hints that badge may yet return.

Reviews You Can Trust!

The DBS Superleggera also shares the same 5.2-liter twin-turbo V-12 found in the DB11, albeit with some notable revisions, including significantly more boost, meant to punch it up to a spectacular 715 horsepower and 664 pound-feet of torque. With its heavy emphasis on lightweight carbon fiber, the 2+2 weighs in at around 3,725 pounds. Do the math and you’re talking about a foreboding power-to-weight ratio that allows for 0 to 60 launches in a mere 3.3 seconds and a top speed of 211 mph. It also gives Aston bragging rights when compared to a Ferrari 812 Superfast, which has about 147 lb-ft less torque.

(more…)

Audi Set to Reveal PB 18 e-tron Concept

Pebble Beach debut sets in motion Audi’s entry into battery-car market.

by on Jul.30, 2018

For now, Audi is billing the PB 18 as a concept, but could it be working up a challenge to the planned Tesla Roadster electric supercar?

With its first long-range battery-electric SUV set to make its launch later this year, Audi is setting the stage for its entry into the emerging market with the upcoming debut of the PB 18 e-tron Concept.

The name is a bit of code, though one not difficult to figure out, as the electric supercar will be unveiled during this coming month’s series of classic car events capped off by the Aug. 26 Pebble Beach Concours d’Elegance.

Electrifying!

“It also recalls the LeMans-series winner Audi R18 e-tron, whose technology inspired the solutions for various details,” the German automaker says in a statement accompanying this teaser image, adding that, “The Audi PB 18 e-tron was conceived and designed by the new Audi Design Loft in Malibu, California.” (more…)

First Drive: 2018 Infiniti Q60 Red Sport 400 AWD

Brand's new sports coupe drives the way it looks.

by on Jul.27, 2018

In world of sport-utilities, Infiniti is running with the "sport" only with its new Q60 sports coupe.

Boxy sport-utility vehicles seem to rule the roads, but it is still possible to find a nicely shaped sporty coupe that goes a step or several steps beyond the utilitarian such as the Infiniti Q60.

Sitting at the curb the Q60 is drop-dead gorgeous. At the same time, it’s also a lot of fun to drive, comes with a well-appointed interior and has a full-portfolio of the latest technology for safety and connectivity.

Reviews You Can Trust!

The exterior of the two-door Infiniti Q60 is not only beautiful but it also has a distinctive sporty and luxurious character that comes out whether the car sitting still at the curb or out on the road. It looks impressive — like an expensive automobile should. (more…)

Daimler AG Pushing Forward on Restructuring Plans

Company's move to split into three units provides more freedom.

by on Jul.26, 2018

Daimler AG is splitting into three separate entities to improve efficiency and profitability.

Daimler AG took another step toward a restructuring aimed at giving its three key operating units – cars, trucks and financial services – greater freedom and flexibility.

The plan approved by the company’s supervisory board this week creates three new operating companies while the parent company, Daimler AG, retains oversight and governance, according to the company’s announcement.

News You Can Trust!

“The new structure positions Daimler to tackle the rapid pace of change in the mobility sector and the corresponding strategic challenges. Legally independent divisions will sharpen our focus on the future success of the business.” Manfred Bischoff, chairman of the Supervisory Board of Daimler AG. (more…)

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