Tag Archives: car

Porsche will hire over 1,400 employees to build its electric cars

Porsche first unveiled its electric car, the Mission E, last December as a luxury model fit to compete with Tesla’s Model S. 1,000 new jobs would becreated to bring the concept vehicle to life, but today they increased the total to more than 1,400, likely to channel good press and move beyond its parent company Volkswagen’s emissions scandal.

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Tesla is selling $2 billion in stock to make the Model 3

When Tesla talked about its earnings in early May, one big question came up: just how will the company afford to make hundreds of thousands ofModel 3s (over 373,000, at last count)? By raising a ton of investment money, that’s how. Tesla has announced that it’s selling a total of $2 billion in stock, about $600 million of it from Elon Musk himself, to pay for its expansion plans. It had to move up its goal of 500,000 electric vehicles per year to 2018 in response to Model 3 deposits, and that means having a “good buffer of cash” (as Musk said during the earnings call) to keep things humming.

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VW will reportedly offer cash to cheated diesel car drivers

If you’re feeling burned by Volkswagen’s decision to cheat on diesel emissions tests, you might get some compensation for your troubles. Sources for The Truth About Carsunderstand that VW will launch a “TDI Goodwill Program” that compensates diesel car drivers with cash in the form of prepaid cards. In the US, you’d get both a $500 universal card as well as a VW-only card worth $500 to $750.

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Apple and BMW have been exploring partnerships on cars

Apple and BMW may eventually have more in common than just some features in your car’sinfotainment system. Sources for both Reuters and Manager Magazin understand that the two companies have had “exploratory talks,” including a trip by Apple executives to Leipzig to see how BMW builds the i3. Apple reportedly likes that BMW rethought the conventional car manufacturing process for its electric vehicle, and might use what it learned to help make its own EV. While BMW claims that there aren’t any active talks about jointly developing a car, a Reuters tipster hears that the firms may revive talks (not necessarily to co-produce a vehicle) later on.

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