SINGAPORE - Dyson, the British company known for its bladeless fans and bagless vacuum cleaners, announced on Tuesday (Oct 23) that it will make electric cars at a facility in Singapore. The plant, at a location which the company declined to reveal when contacted, will be ready by 2020, according to a press statement. Neither would it say much about the car when contacted, except that it will be electric, and "very different from anything in existence" today. In its statement, Dyson said the two-storey manufacturing facility will be "a highly sophisticated one, using the latest technologies, including robotics and automation". Almost a year ago, the company said it had begun working on a battery electric vehicle, due to be launched by 2020. The company said then it had assembled a team of 400 people and is committed to spending £2 billion (S$3.6 billion) on the project to take on the likes of Tesla and other automotive giants. It would not say how much of that investment will be … [Read more...] about Bladeless-fan maker Dyson to build electric cars in Singapore
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By Tim Higgins The Wall Street Journal Fri., Sept. 28, 2018 The legal threat from securities regulators to ban Elon Musk from Tesla Inc. raises the specter of a once-unfathomable exit that would potentially have dire consequences for the electric-car company. That threat was seen in the trading of Tesla’s shares, which fell 12% to $269.52 in premarket trading Friday. Few companies and their leaders are as indivisible as Mr. Musk and the 15-year-old company he helped build into a powerful player in the automotive industry. He isn’t only Tesla’s chief executive, chairman and largest shareholder but also its chief engineer, salesman, marketer and, possibly to his detriment, a Twitter user. The Securities and Exchange Commission is seeking to bar Mr. Musk from serving as an officer or director in any publicly traded company, accusing him of misleading shareholders about a corporate buyout in his Aug. 7 tweets announcing that he had secured funding to … [Read more...] about A Tesla without Elon Musk would threaten electric-car maker’s future
caption Elon Musk source Scott Olson / Getty Images Elon Musk can’t seem to keep out of the spotlight. In the past few months, Musk (the CEO of Tesla, The Boring Company, and SpaceX) has repeatedly inserted himself into the news cycle – usually through tweeting. At a time when criticisms of Musk’s electric car company Tesla have ramped up, the 47-year-old tech magnate has publicly sparred with people on numerous fronts – a remarkable form of conduct for a chief executive, even one as outspoken as Musk. The latest saga involved Musk’s efforts to help extract the Thai soccer team trapped in a flooded cave, and his resulting feud with a British diver involved in the rescue whom Musk denigrated as a “pedo guy.” Here’s a list of all the controversies Musk has found himself in during the past few months: Musk said he would start a website to “track the credibility score of each journalist, editor & … [Read more...] about Elon Musk is at the center of an astonishing number of bizarre news stories and public feuds — here are all of the Tesla CEO’s unusual recent moments in the spotlight
"THINK bigger with Tesla" (News, June 14) refers. Tesla, the poster child for electric cars is a financial disaster. Since its inception it has been bleeding money. In 2017, it had a debt of US$9 billion (RM35.97 billion) and has lost US$2 billion. It only sold 30,000 units worldwide in its latest quarter. This should put the commercial viability of an electric car project to rest. Electric cars have always been a seductive proposition. I can understand that electric cars are a solution for the chronic air pollution in many cities in China. But does this apply to our cities? Probably not. When an idea cannot be economically justified, a red herring argument of advancing "science and technology" is often mooted. Can we afford to use our precious resources to try and reinvent the "electric" wheel? And how can an uneconomic venture be seen as a "breakthrough venture to revitalise economic growth"? That logic is hard to follow. As for another national car? Don't we already have a very … [Read more...] about Why reinvent the electric wheel?
By David Olive Business Columnist Mon., May 7, 2018 Canada Post beats the U.S. Postal Service If Canada Post was a publicly traded company, rather than a crown corporation, its latest earnings report would be described by Bay Street analysts as “blowing the doors off.” The Canada Post Group of Cos., as it’s formally known, last week reported that its 2017 profits jumped 78 per cent, to $114 million. And its revenues, in this era of sharply reduced lettermail, increased 4.4 per cent, to $8.2 billion. By sharp contrast, the U.S. Postal Service (USPS) lost a staggering $2.7 billion (U.S.) in fiscal 2017 — the 11th consecutive year in which USPS has suffered a multibillion-dollar loss. Two main factors explain the difference. Canada Post long ago made deep cuts in its bloated workforce and has since kept labour costs down, and Ottawa helped the corporation cut costs further by approving community mailboxes. (It’s notable, though, … [Read more...] about Latest results show Canada Post can deliver