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Fisker's woes serve as a reminder to carmakers: the doors should open

Fisker, the embattled California-based EV startup flirting with bankruptcy, is facing yet another speed bump: the US auto safety regulator is looking into reports that its doors won’t open. It’s the regulator’s third investigation into the automaker’s 2023 Ocean SUV this year.

The National Highway Traffic Safety Administration (NHTSA) said it’s received 14 complaints that the doors on Fisker’s SUVs sometimes don’t open from the inside or outside, leaving customers stuck.

As you know, opening the door is the first step to nearly everything you can do with a car. Naturally, this is likely an issue Fisker will want to address.

That said, their to-do list is rather long! Also a priority: Fisker was delisted from the NYSE last month. The company is hardly the only EV maker with manufacturing problems: some Tesla Cybertruck owners are already complaining that their $57K+ stainless steel vehicles have begun to rust. 

As you know, opening the door is the first step to nearly everything you can do with a car. Naturally, this is likely an issue Fisker will want to address.

That said, their to-do list is rather long! Also a priority: Fisker was delisted from the NYSE last month. The company is hardly the only EV maker with manufacturing problems: some Tesla Cybertruck owners are already complaining that their $57K+ stainless steel vehicles have begun to rust. 

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Tesla Will Open Up Its Chargers To Other Brands, In Order To Receive Federal Subsidies

After a big pullback for EVs, climbing gas prices are causing drivers to eye them again

Still, the market is much different than it was the last time oil prices were this high.

business
Rani Molla

How Tesla quietly wound up owning a small piece of SpaceX

Tesla is converting its recent $2 billion investment in Elon Musk’s AI company, xAI, into a small ownership stake in SpaceX — just months before the rocket maker’s highly anticipated IPO.

Here’s what happened: Tesla announced its xAI investment in late January, after a shareholder proposal to invest fell short last year. Several days later, xAI merged with SpaceX. All three companies are headed by Musk.

Now, regulatory filings with the Federal Trade Commission show Tesla converting that investment into a small stake in SpaceX, formalizing the financial link between the companies ahead of the rocket maker’s IPO. SpaceX is expected to go public this year at a valuation some speculate could top $1.75 trillion, potentially making it the biggest company to ever go public. (The current record holder, Saudi Aramco, went public at a more than $1.7 trillion valuation in 2020.)

While the size of Tesla’s stake wasn’t available, Bloomberg reports that the investment would equate to ownership of less than 1%.

While SpaceX and Tesla have engaged in related-party transactions over the years, Tesla had not previously disclosed an equity investment in SpaceX.

Now, regulatory filings with the Federal Trade Commission show Tesla converting that investment into a small stake in SpaceX, formalizing the financial link between the companies ahead of the rocket maker’s IPO. SpaceX is expected to go public this year at a valuation some speculate could top $1.75 trillion, potentially making it the biggest company to ever go public. (The current record holder, Saudi Aramco, went public at a more than $1.7 trillion valuation in 2020.)

While the size of Tesla’s stake wasn’t available, Bloomberg reports that the investment would equate to ownership of less than 1%.

While SpaceX and Tesla have engaged in related-party transactions over the years, Tesla had not previously disclosed an equity investment in SpaceX.

Southwest Airlines At San Diego International Airport

Southwest stopped fuel hedging a year ago. Whoops.

It’s been a year since Southwest said it would end its fuel-hedging program. Oil’s moves this year make that decision look like a mistake.

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