Tag archives for Tesla CEO

Tesla CEO Musk Admits Fault for Creative Finance Calculator

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Tesla CEO Elon Musk has admitted that the automaker’s online finance calculator was misleading and has confirmed it will be fixed to not include non-financial factors in the online monthly payment.

Musk admitted fault with the calculator during a conference call on Friday, stating that Tesla was in the wrong, and the media was right to criticize it. The online calculator displays the monthly cost of owning a Tesla under its lease-to-buy offer. Problem is, the calculator included factors such as time saved by not having to pump gas, helping lower the monthly payment presented to shoppers with non-cash savings.

SEE ALSO: Tesla Model S Resale Value to be Industry’s Best, Says CEO Musk

Tesla will be fixing the online calculator so that the cost savings estimates are more conservative.

“We were wrong, those people were right,” he said. “We need to fix it.”

Discuss this story at Tesla-Buzz.com

By Jason Siu

Texas Tesla Store Favored by Residents: Poll Shows

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Residents in Austin, Texas are overwhelmingly in favor of electric vehicle maker Tesla being allowed to sell its Model S sedan according to a web poll by the Austin Business Journal.

“We hope that legislators will consider the overwhelming support shown in this poll…” Tesla CEO Elon Musk said of the bill, which would allow EV makers to sell straight from factory to consumer.

In the poll, which isn’t a scientific sampling and is still open, 86 percent are in favor of Tesla being allowed to bypass Texas dealership regulations while 12 percent are against while two percent are are undecided. At the time of writing, 1,718 votes had been cast.

SEE ALSO: Tesla CEO Visits Texas, Talks About Electric Truck

Tesla’s direct-to-customer business model raises problems where laws block manufacturers from selling directly to customers. It’s a problem Tesla successfully defeated in other parts of the country including a Boston suburb where the brand found similar opposition from the local dealer association. Musk travelled to Austin two weeks ago and lobbied to bypass Texas dealership regulations.

SEE ALSO: Tesla Wins License to Sell Cars in Boston Suburb

“For the Auto Dealer Association to claim that restricting competition is in the best interests of the public is wrong and defies obvious common sense,” Musk said. Job creation, and the allusion of an electric pickup truck were among the items he discussed at the time.

Opening a store in Austin could mena big business for Tesla. Musk said he thought Texas could prove to be the brand’s second-largest market behind California.

By Luke Vandezande

Tesla CEO Releases Official Rebuttal to NY Times Story

Tesla spokeswoman Shanna Hendriks’ world turned upside down on Monday after CEO Elon Musk issued a stiff rebuke over an article in the New York Times he called fake.

Shortly after the controversy began, the paper responded, saying “any suggestion that the account was ‘fake’ is, of course, flatly untrue.” But Musk wasn’t finished. At the height of his heated Twitter salvo, he vowed to reveal the details behind the article. Tesla turns data logging on for all media drives after Top Gear’s “BS” report on the Roadster. Musk’s official response is now available, days after the initial flare-up.

In a blog post released late Wednesday, Musk attacks several points from the story in question. One of several issues is that John Broder, the story’s author, reported setting cruise control at 54 mph. According to charts released in the blog cruise control was actually set at 60 mph.

SEE ALSO: Elon Musk Calls NY Times Piece on Tesla Model S a ‘Fake’

Another chart from Tesla shows Broder increasing cabin temperature while reporting that he decreased it.

But perhaps the most concerning part of what the data log reveals is that Broder seems to have misrepresented how far the car actually travelled and how long he spent charging the car. The car’s log shows it actually exceeded its stated range rather than falling short as he reported.

Musks blog suggests that Broder carried a vendetta against electric cars.

“We were played for a fool and as a result, let down the cause of electric vehicles. For that, I am deeply sorry,” Musk wrote.

GALLERY: Tesla Model S Data Log

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Discuss this story at GasStinks.com

By Luke Vandezande