Elon Musk Is Delighted Tesla Lover Jay Leno Says EVs Are the Future

Billionaire Elon Musk is thrilled that car aficionado Jay Leno is a Tesla lover who’s confident that electric cars are the future of the auto industry.
Elon Musk, Jay LenoElon Musk, Jay Leno

Billionaire Elon Musk is thrilled that car aficionado Jay Leno is a Tesla lover who believes that electric cars are the future. | Source: (i) Frederic J. BROWN / AFP (ii) Photo by Richard Shotwell / Invision / AP, File; Edited by CCN

Billionaire Elon Musk is thrilled that car aficionado Jay Leno is a Tesla lover who’s confident that electric cars are the future of the auto industry.

Musk tweeted his approval of Leno’s prior remarks, when he said that the days of gasoline-fueled cars are coming to an end. “Jay Leno really knows his cars!” Musk gushed.

And @JayLeno really knows cars! https://t.co/QN3x0UzP4v

— Elon Musk (@elonmusk) August 7, 2019

Leno: Tesla is very low-maintenance

Hours earlier, Leno told CNBC (video below) that gasoline-powered cars will eventually be replaced by electric cars.

Leno, the former host of the “Tonight Show,” currently stars on the CNBC show “Jay Leno’s Garage.” Season five of the weekly show premieres on Aug. 28.

Leno is an avid car collector who owns 286 vehicles. Among his favorite is the Tesla, which he bought in 2016.

Leno says what he loves about his Tesla is how low-maintenance is it.

“I have a Tesla. I’ve had it for three years. I’ve never done anything. There’s no fluids to change.”

Leno: ‘There’s almost no reason to have a gas car’

Leno predicts that a child born today “probably has as much chance of driving in a gas car as people today have been driving a car with a stick shift.”

The comedian says gasoline-fueled cars will still be around in the future, but there won’t be many of them because electric cars will render them obsolete.

Leno says Tesla has been successful because it exceeded the market’s expectations of what electric cars can do.

“[Tesla] sort of solved the battery problem. It can go 350 to 400 miles at a charge. There’s no maintenance. They’re faster than the gas car. So there’s almost no reason to have a gas car unless you’re doing long-haul duty.”

Tesla owner Jay Leno praises Elon MuskTesla owner Jay Leno praises Elon Musk
Tesla owner Jay Leno says he loves his Tesla and praised Elon Musk as a pioneer. | Source: screenshot

Leno: The Elon Musk haters are wack

Leno has long been a fan of Tesla CEO Elon Musk. In 2016, Leno said Musk deserved a lot of credit for entering a tough, super-competitive industry as a pioneer in the obscure electric-car market.

Leno also said he didn’t understand why Musk has so many haters since he’s building a high-quality American car in the United States that pays fair wages.

“Here’s a guy building an American car in America using American labor and paying them a union wage. Why are you not rooting for it to be successful? I don’t quite understand that.”

In 2018, Leno featured the Tesla Roadster on his CNBC show. The segment was an immediate hit.

Meanwhile, Elon Musk recently won praise from another Tesla owner for fixing a flaw after it was brought to his attention on Twitter.

As CCN reported, Musk fixed the “Dog Mode” feature after a customer complained that it almost killed his pet. The “Dog Mode” feature regulates the car’s interior temperature to keep unattended pets cool until their owner returns.

Elon Musk’s mom Maye preps first book

Maye Musk — the mother of controversial Tesla and SpaceX founder Elon Musk — has written her first book. An insider tells Page Six that Musk’s tome …

Maye Musk — the mother of controversial Tesla and SpaceX founder Elon Musk — has written her first book.

An insider tells Page Six that Musk’s tome “A Woman Makes a Plan,” will focus on her life as a single mom before her son’s businesses made her family wildly rich.

“It wasn’t always the Musk life you see now. [The book] talks about raising kids alone, and the financial struggles they went through,” said an insider. “It’s also going to be about her dating life, marriage and the fashion industry. She was blocked by agents and couldn’t get work for years. Now, she’s a global success in what she calls the ‘prime of her life.’”

Musk also discusses struggling through poverty and dealing with weight issues as a plus-size model. The book goes on sale Dec. 31.

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NHTSA Sends Elon Musk a Cease & Desist Letter over Tesla Safety Claims

Tesla CEO Elon Musk received a cease-and-desist letter from the National Highway Traffic Safety Administration (NHTSA) over his claims that the …

Tesla CEO Elon Musk received a cease-and-desist letter from the National Highway Traffic Safety Administration (NHTSA) over his claims that the Tesla Model 3 is the safest car in the world.

Business Insider reports that in October 2018, the NHTSA sent a cease-and-desist letter to Tesla CEO Elon Musk over his claims that the Tesla Model 3 sedan is the safest car in the world. Transparency group PlainSite published the cease-and-desist letter this week along with other correspondence between Tesla and the NHTSA obtained via Freedom of Information Act (FOIA) request.

According to the letter dated October 17, 2018, Tesla made “a number of misleading statements” about the safety of its Model 3 sedan. CEO Elon Musk also promoted these claims via social media. This claim was linked to the 5-star rating that the NHTSA gave the Model 3 in Septembers, but according to the agency, the high rating does not equate to a car being “safer” than other cars with a 5-star label. The complaint highlights a Tesla blog post from October 7 in which the firm states that the Model 3 “achieves the lowest probability of injury of any vehicle ever tested by NHTSA.”

The NHTSA told Musk that this blog post along with his various other claims “misled customers.” At the time of the posting of the blog post, Musk shared a link to the post on his personal Twitter account and quoted Tesla saying: “There is no safer car in the world than a Tesla” and added himself: “The physics of how Tesla achieved best safety of any cars ever tested.”

The NHTSA issued a veiled response to Tesla which did not name the firm but stated that there was “no ‘safest’ vehicle among those vehicles achieving 5-star ratings.” In the published cache of correspondence between the NHTSA and Tesla, Tesla lawyer Al Prescott stated that “Tesla has provided consumers with fair and objective information.”

A lawyer for the NHTSA, Jonathan Morrison, stated that: “This is not the first time that Tesla has disregarded the guidelines in a manner that may lead to consumer confusion and give Tesla an unfair market advantage.” When questioned by Business Insider, Tesla referred to a letter from October 31st to the NHTSA in which the company states:

Tesla’s blog statements are entirely based on actual test results and NHTSA’s own calculations for determining relative risk of injury and probability of injury. Based on this published data, the Model 3 Long Range RWD has achieved a Vehicle Safety Score of 0.38 that translates to an overall probability of injury of 5.7%. NHTSA has rated almost 1,000 vehicles since the current NCAP began with the 2011 model year. We have compared these results to every other public test report. No vehicle has ever achieve an overall lower score.

Based on the foregoing, we do not see a reason to discontinue use of our safety blog or these statements as long as no other vehicle surpasses the Model 3 Long Range RWD’s Vehicle Safety Score and overall probability of injury. While we do not expect NHTSA to take sides among manufacturers, we had hoped NHTSA would welcome such an achievement because it was presented in an objective manner using the agency’s own data. Model 3’s achievement is exactly what NHTSA intended with the NCAP — to encourage manufactures to continuously improve safety.

Read the full report at Business Insider here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolanor email him at lnolan@breitbart.com

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From $420 To $230: Where Tesla Stands One Year After Elon Musk’s ‘Funding Secured’ Tweet

It’s been exactly one year since Tesla Inc (NASDAQ: TSLA) CEO Elon Musk posted his “funding secured” tweet that sent Tesla’s share price soaring.

It’s been exactly one year since Tesla Inc (NASDAQ: TSLA) CEO Elon Musk posted his “funding secured” tweet that sent Tesla’s share price soaring. At the time, the future seemed as bright as ever for Tesla and its investors.

One year later, shareholders would like to forget the now-infamous tweet and most of the bizarre year that followed.

Funding Not Secured

The tweet that started it all was posted at 12:48 p.m. on Aug. 7, 2018.

“Am considering taking Tesla private at $420. Funding secured,” Musk wrote.

Understandably, Tesla’s share price jumped 14% that day to an intraday high of $387 before closing at $379.

A week later, Musk provided an update on his mysterious funding, which he said in a blog post was coming from the Saudi Arabia sovereign wealth fund, a 5% owner of Tesla at the time. Musk said he left a meeting with Saudi representatives with “no question that a deal with the Saudi sovereign fund could be closed.”

On Aug. 15, the SEC sent subpoenas to Tesla for more information about Musk’s claims. On Sept. 27, the SEC filed a lawsuit against Musk accusing him of manipulating Tesla’s share price by making “false and misleading” claims in his “funding secured” tweet.

By that time, Tesla’s share price had sunk to $264, about 31.7% below its Aug. 7 peak.

SEC Settlement

After denying wrongdoing, Musk reached a settlement agreement with the SEC two days later in which Musk and Tesla were fined $20 million each and Musk would step down as Tesla chairman for at least three years. Soon thereafter, Tesla named Telstra CFO Robyn Denholm as its new chair.

On Oct. 4, Musk lashed out at the SEC, referring to it as the “Shortseller Enrichment Commission” on Twitter.

In a December interview with “60 Minutes,” Musk said: “Let me be clear: I do not respect the SEC.”

Also in December, Tesla added independent board members Larry Ellison and Kathleen Thompson-Wilson as part of Musk’s SEC settlement.

Musk once again got in trouble on Twitter on Feb. 19, 2019 when he tweeted that Tesla would “make around 500,000” vehicles in 2019 before quickly correcting himself and stating Tesla would be delivering “about 400k” vehicles.

The SEC was quick to ask the judge who oversaw Musk’s settlement to hold him in contempt of court for violating the terms of the settlement, since the production estimate tweets were not approved by Tesla. Musk once again denied any wrongdoing by claiming that the tweets were irrelevant to Tesla investors, an explanation the SEC said “borders on the ridiculous.”

See Also: ‘Concerning Trend’: Wall Street Weighs In On Tesla’s Q2 Earnings

Tesla’s Struggles Continue

In March, CNBC reported that, in a third round of Tesla layoffs, the company cut down its workforce by 8% in an effort to reduce costs.

Tesla also announced it would be closing most of its physical retail stores and shifting its operations online. After stiff backlash, the company announced later in the month that it changed its mind and would only be closing about 10% of its stores.

On April 24, Tesla reported a first-quarter loss that was far below Wall Street expectations, and the stock fell below the $250 level.

Stock Bottoms Out

Tesla shares made new lows in May when the company announced a $2-billion stock and debt offering after telling investors throughout 2018 it was not in need of capital.

Tesla shares finally bottomed out in late May at $176 after Tesla’s vice president of internal engineering became the latest in a parade of executives to leave the company. The $176 bottom represented a 54.5% drop from the post-“funding secured” high.

Tesla shares bounced when the company reported record second-quarter deliveries in-line with its guidance, but dropped once again when second-quarter losses came in larger than anticipated.

Happy Anniversary?

Perhaps it’s appropriate that Tesla marks the anniversary of Musk’s bizarre “funding secured” tweet with some more controversy. On Wednesday, documents posted on the website PlainSite said the U.S. National Highway Traffic Safety Administration filed a cease-and-desist order against Tesla back in October for making “misleading statements,” including claims that the Model 3 has “the lowest probability of injury of all cars the safety agency has ever tested.”

Consumer Reports has also had multiple run-ins with Tesla, choosing not to recommend the Model 3 due to quality and safety concerns.

Now that all the dust has settled on Tesla’s crazy year, the stock is trading around $230 per share at time of publication, down 40.9% overall in the past year. In that same stretch, the SPDR S&P 500 ETF Trust (NYSE: SPY) is up 0.4%.

For perspective, shares of Ford Motor Company (NYSE: F) are down 5.6% in that time, while shares of General Motors Company (NYSE: GM) are up 4% in the past year.

Photo by Steve Jurvetson via Wikimedia.

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A year later, Tesla could use buyout-like focus

CEO Elon Musk was upbraided for tweeting he had “funding secured” to take the carmaker private 12 months ago. Tesla now trades at barely half his …

Context News

Tesla shares were trading a little below $232 on Aug. 7, down nearly 39% from the level of exactly one year ago, when Chief Executive Elon Musk tweeted that he was “considering taking Tesla private at $420. Funding secured.”

Almost two months later the U.S. Securities and Exchange Commission filed a civil lawsuit against Musk, arguing he had made “false and misleading statements” about the prospects of a deal, which failed to materialize.

To settle the case, Musk agreed to step down as chairman for at least three years, submit his tweets to be reviewed by Tesla before being published and pay a $20 million fine. Tesla also had to pay the same amount as well as add two independent directors to its board.

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