Tesla CEO Elon Musk threatened to pull the company’s factory and headquarters out of California in an escalating spat with local officials who have stopped the company from reopening its electric vehicle factory.
Musk hoping to build underground transport tunnels for hyperloop transportation systems.
Falcon Heavy carried a communications satellite for Saudi-based telecom firm Arabsat, which will beam internet and television services over Africa, Europe and the Middle East.
Elon Musk's space transportation company announces fashion magnate, Yusaku Maezawa, will be the first private passenger to fly on a monster rocket around the Moon as early as 2023.
The company said Chief Accounting Officer Dave Morton had resigned while Bloomberg reports that Chief People Officer Gaby Toledano will also be leaving.
With a debt load of about $10.5 billion and the possibility of an impending cash shortfall, Wall Street expects the luxury electric carmaker to need to raise funds before long.
The decision leaves Tesla as a publicly listed company with its future in question. Its shares have been trading below their August 7 levels, when CEO Elon Musk tweeted he was considering taking Tesla private for $420 per share.
Tesla tore through $745.3 million in cash in the first quarter, putting pressure on the company to borrow more or sell additional shares to raise more cash.
Musk says, “If you build a ship that’s capable of going to Mars, what if you take that same ship and go from one place to another on Earth? We looked at that and the results are quite interesting.”
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