Oracle’s Larry Ellison reveals $1-billion stake in Tesla

Larry Ellison’s Big Tesla Stake Is Mostly Old News

Billionaire Oracle founder Larry Ellison reveals $1bn stake in Tesla

Tesla's new plant in China will eventually have an annual production capacity of 500,000 vehicles, the California-based company has said, dramatically increasing its output.

Tesla's Model 3 sedan, which is its first mass-market vehicle, now has a starting price in the United States of America of US$44,000 (NZ$64,900). Otherwise, have you considered the Model 3?

Once completed later this year, Tesla's Gigafactory 3, situated in the Chinese port city of Shanghai, will be able to sell its cars directly into China. That number kept growing in the fourth quarter, with Tesla selling over 63,000 Model 3s in the year's final three months.

Specifically, Tesla will be limiting buyers who purchase the Model S and X to only configure the vehicle with a 100 kilowatt-hour battery pack, removing the previously offered 75 kWh option. One Twitter user asked so in a reply, 'Is Model S & X being phased out over the next year or two?' Musk replied nearly immediately with a 'Def not.' And there it is, straight from the horse's mouth.

LaMarcus Aldridge Drops 5️⃣6️⃣, Russell Westbrook Dishes 2️⃣4️⃣ Dimes in 2OT
Interestingly, Aldridge had just recently expressed slight frustration about having never scored 50 in a game during his career. The Thunder scored 21 points off 14 San Antonio turnovers while only turning the ball over seven times.

This compares with US$67,000 for the most enhanced version of the Model 3, featuring a dual motor all-wheel drive, an enhanced Autopilot system, and a US$5,000 performance upgrade package, writes CNBC's Lora Kolodny.

Musk unveiled the remodelled Tesla Roadster back in 2017. Worldwide deliveries in Europe and China will start in February 2019.

Earlier this week, Tesla's CEO Elon Musk and Shanghai Mayor Ying Yong attended the ground-breaking ceremony for the electric carmaker's new Gigafactory 3, for which the Shanghai government, in order to cover the cost, loaned out United States dollars 6 billion. Tesla's stock price dipped 9.7 percent in the first two days of trading in 2019 before rebounding over the past few days (it's now up less than one percent on the year).

What's the bigger challenge for Tesla Inc.

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