'Tearful' Musk aims for $25,000 Tesla car for the masses
San Francisco, Aug 18 : After giving a "tearful" interview to The New York Times, Tesla Chairman and CEO Elon Musk sat with popular You Tuber Marques Brownlee for a chat, revealing his plans for a mass-market electric vehicle priced as low as $25,000.
"That's something we could do. If we work really hard i think maybe we could do that in three years," Musk replied to Brownlee (who goes by the handle @MKBHD on Google-owned YouTube) on Friday.
The interview took place on August 15 but a 17-minute video was uploaded by Brownlee on YouTube on Friday -- a week after Musk tweeted about taking Tesla private with "funding secured" that created a storm at the Tesla board and amid market watchers.
According to The Verge, Musk said in the YouTube interview that he hoped to scale production at Tesla and lower their design and technology costs enough to be able to offer a truly mass-market electric vehicle.
Currently, the price for Tesla Model 3 starts from $35,000 and Model S from $75,000.
"Musk also expressed a desire to improve production to the point where Tesla can make two cars at once," said the report. "We've really gotta figure out how to make two new vehicles at the same time," Musk told Brownlee.
The YouTube interview came a day after Musk spoke to NYT about "excruciating" times at Tesla, noting that he "nearly missed his brother's wedding this summer and spent his birthday holed up in Tesla's offices as the company raced to meet elusive production targets on a crucial new model".
Earlier this week, Musk confirmed that he is closely working with Goldman Sachs and private-equity firm Silver Lake to take the electric carmaker private -- a deal that would need nearly $70 billion in funding.
"I'm excited to work with Silver Lake and Goldman Sachs as financial advisors, plus Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors, on the proposal to take Tesla private," Musk tweeted.
Musk said that in late July, he met Saudi Arabian sovereign fund representatives to discuss the electric carmaker's possible exit from the stock market.
He said in a statement that the Saudi sovereign fund had first contacted him "at the beginning of 2017 to express (their) interest because of the important need to diversify away from oil".
"I continue to have discussions with the Saudi fund, and I also am having discussions with a number of other investors, which is something that I always planned to do since I would like for Tesla to continue to have a broad investor base," he added.
He said he had most recently met with the Saudis on July 31 and left that meeting "with no question that a deal with the... fund could be closed, and that it was just a matter of getting the process moving".
"This is why I referred to 'funding secured' in the August 7 announcement," he said, referring to his surprise tweet on that date that he was thinking about taking Tesla private.
According to Musk, "two thirds" of Tesla's current stockholders would be interested in continuing to hold the firm's shares once it goes private.
On August 7, Musk surprised the investment world with a Twitter announcement that he was considering taking Tesla private and that the funds needed to do so - which some financial analysts estimate at more than $70 billion - were "secured".
Musk's tweet caused a financial firestorm with Tesla shares immediately skyrocketing by almost 11 per cent, although in the coming days they lost a good part of what they had gained and tanked further after Musk's interview with the NYT.
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Wayanad LS bypoll: Priyanka crosses lead achieved by Rahul in 2024 Lok Sabha polls
Wayanad (Kerala) (PTI): Top Congress leader Priyanka Gandhi Vadra was on Saturday comfortably cruising towards her maiden electoral win from Wayanad in Kerala, as she surpassed the lead achieved by her brother Rahul Gandhi in the 2024 Lok Sabha polls earlier this year with party leaders and ally IUML predicting a big win for her amid the counting trends.
The Congress-led UDF's candidate from this hill constituency, Priyanka, extended her lead by over 3.8 lakh votes after five hours of counting of the ballots in the Wayanad Lok Sabha bypoll, according to the Election Commission.
Reacting to the lead achieved by Priyanka, Congress' ally Indian Union Muslim League and Telangana Chief Minister A Revanth Reddy said she would get more votes than her brother Rahul Gandhi in the Lok Sabha polls in April this year and will win by a record margin.
"An amazing first trend on counting day is the massive early lead for our leader @priyankagandhi ji in Wayanad, Kerala, by-election. People of Wayanad are surely going to record in victory margins today and Priyanka ji will make Parliamentary debut with a grand win," Reddy said in a post on 'X'.
IUML supremo Panakkad Sadiq Ali Shihab Thangal said that going by the trends, Priyanka will get more votes than what Rahul got and the majority she achieves would also be higher than that of her brother.
A similar view was expressed by IUML's national general secretary P K Kunhalikutty.
On the other hand, BJP leader Anil K Antony, earlier in the day, had claimed that though Priyanka has achieved a good lead, her victory margin would be less than what Rahul got in the 2024 and 2019 LS polls in the hill constituency.
According to the latest EC figures, Priyanka had a lead of 3,82,975 with 5,78,526 votes. LDF's Sathyan Mokeri was behind her with 1,95,551 votes and NDA's Navya Haridas was in the third spot with 1,04,947 votes.
Rahul had got 6,47,445 votes and won by a margin of 3,64,422 votes against his nearest rival, CPI's Annie Raja, in the LS polls this year. In 2019, he had got 7,06,367 votes and had won by a margin of 4,31,770 votes.
After winning from Rae Bareilly in Uttar Pradesh as well, in this year's polls, Rahul vacated the Wayanad seat, and the party nominated his sister Priyanka, paving the way for her electoral debut.
The bypoll turnout in Wayanad, which has over 14 lakh registered voters, was around 65 per cent, a decline from the close to 74 per cent in the LS polls held in April this year and much lower than the over 80 per cent turnout in the hill constituency in the 2019 general elections.
The counting of votes commenced at 8 am with postal ballots being taken up first.
The strong rooms, where the EVMs were kept, were opened more than an hour before counting began.
The bypoll for the Wayanad Lok Sabha seat was held on November 13.
Of the 16 candidates who contested, the main contenders are Priyanka, ruling CPI(M)-led LDF's Sathyan Mokeri, a political veteran, and BJP-headed NDA's Navya Haridas.
