Tesla and Elon Musk’s rollercoaster 2021
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Year of Musk
Elon Musk is Time’s “Person of the Year,” as well as Financial Times’. And he’s the richest person on the planet thanks to Tesla’s continued stock price rise. What better way to end the year?
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Ups and downs
Tesla has had a mixed 2021, the company’s net worth is rising, making CEO Elon Musk the richest man on the planet. At the same time, the company has lost employees to competitor Rivian and there have been some Autopilot problems. Here’s how it went down.
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Tesla time
Musk’s electric car company is also doing well, with car rental company Hertz announcing plans to buy 1,00,000 Tesla cars. But the company is also facing issues with its assisted driving feature, Autopilot, even as the NHTSA opened a defect investigation into it.
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Rivian
Tesla holds roughly two-thirds of the market share but there is competition now, with Amazon-backed Rivian, which also employs former Tesla people. To make matters worse, CJ Moore, who led Autopilot software, is now at Apple.
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Future proofing?
Bloomberg reports that Tesla is building a massive battery project south of Houston, called Megapack. The project might just be Tesla’s ace in the hole, with the company making 4680 battery cells in-house.