The company also fired dozens of solar customer
The latest cuts to the division that was once SolarCity - a sales and installation company founded by two cousins of Tesla CEO Elon Musk - include closing about a dozen installation facilities, according to internal company documents, and ending a retail partnership with Home Depot Inc that the current and former employees said generated about half of its sales.Analysts questioned Tesla’s plans for the solar business in light of the latest cuts to staff and retail operations. The lawsuit alleged Tesla’s board of directors breached its duties to shareholders by approving the merger. Before the merger, Musk had served as chairman of SolarCity’s board of directors.The installation offices that the internal email said were targeted for closure were located in California, Maryland, New Jersey, Texas, New York, New Hampshire, Connecticut, Arizona and Delaware.About 60 installation facilities remain open, according to an internal company list reviewed by Reuters. In announcing quarterly results in February, Tesla said growth in solar deployments would resume later this year.
Those employees spoke on condition of anonymity because making public comments could violate the terms of their severance packages. An internal company email named 14 facilities slated for closure, but the other list included only 13 of those locations."In effect they seem to be saying, ‘We have no strategy for selling solar,’" said Frank Gillett, an analyst at Forrester Research, adding that the SolarCity purchase "looks pretty awful right now. The company faces investor pressure to turn a profit without having to tap Wall Street for additional capital.cnluba.Electric car maker Tesla Inc’s move last week to cut 9 per cent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial $2.In response to questions from Reuters, Tesla said it is meeting its hiring Rubber Convex mirror Factory and spending commitments for the factory.Tesla’s falling solar sales also could jeopardise the future of a joint venture with Panasonic, announced as Tesla moved to acquire SolarCity in 2016, to produce solar modules at a new factory in Buffalo, New York."Tesla stores have some of the highest foot traffic of any retail space in the country," Tesla said. If Tesla fails to meet "FALLING SALESIn the first quarter of this year, Tesla installed 76 megawatts of solar systems - down from SolarCity’s more than 200 MW a quarter in early 2016, when it was the leading player in the industry.The company said that cuts to its overall energy team - including batteries to store power - were in line with the broader 9 percent staff cut. SolarCity employed about 15,000 people at the end of 2015 but has since cut thousands of workers.The operational closures, which have not been previously reported, raise new questions about the viability of cash-strapped Tesla’s solar business and Musk’s rationale for a merger he once called a "no brainer" - but some investors have panned as a bailout of an affiliated firm at the expense of Tesla shareholders.Tesla has an agreement with New York state requiring the company to spend $5 billion within 10 years. Some personnel at facilities closing down were being transferred to other sites, the current and former employees said.
Tesla has been burning through cash as it tries to hit a target of producing 5,000 Model 3 electric sedans per week after production delays."It’s been a difficult few days - no one can deny this," a Tesla manager wrote in a separate internal email, sent to customer service employees shortly after the cuts were announced..In March, a Delaware judge ruled against a Tesla motion to dismiss a lawsuit by the company’s shareholders over the SolarCity deal.Ending the Home Depot partnership, which allowed for solar sales in about 800 stores, is part of Tesla’s larger effort to absorb SolarCity into its high-end brand and sell through 90 of its 109 US retail stores and its website, the company said.Tesla declined to comment on which sites it planned to shut down, how many employees would lose their jobs or what percentage of the solar workforce they represent. that obligation and others, the company may be required to pay tens of millions of dollars in penalties at various milestones, could lose its lease, or be forced to write down the assets, the company told investors in a May filing."We continue to expect that Tesla’s solar and battery business will be the same size as automotive over the long term," the company said in a statement to Reuters
The only solution is to promote public transportation
States have land and they can build world class bus terminals on PPP (public private partnership) mode. The bus depot is termed the countrys first international standard bus terminal."We are also exploring the possibilities of double decker air conditioned buses between metros and other cities like Delhi to Kanpur and Delhi to Lucknow. We are brining even good technology for state barriers and toll plazas.Besides, he said a committee is looking into permit issues as there were variations in permit fee in states.The development comes as the states transport ministers visited the central bus depot of Vadodara earlier this month.He said for adding one lane of national highway, the country will have to incur a huge Rs 80,000 crore which is not feasible."The country can have 2,000 to 2,500 bus ports. For designing, modelling and supervision etc we have offered them to bear 3.The ministers were also shown a presentation on London Transport Authority model.
The minister said the government is planning separate policies for transportation in rural, urban and metropolitan cities.Gadkari said talks are also on with World Bank and Asian Development Bank (ADB) to help India replicate the London Transport Authority Model where all the public transport buses could be replaced by luxury ones and a common man can travel in them by paying about 40 per cent less than the current fare.Also if states agree, the Centre can facilitate entire bus fleets on ethanol, bio CNG and other bio fuel besides electricity as at least 1 lakh buses are needed, he said adding "cheap finance will be available to them. Rs 1 lakh crore of the country can be saved if vehicles are not required to stop at toll plazas," he said.Stressing the need to curb the spurt of vehicles on roads, Gadkari said: "We have automobile growth of 22 per cent in the country.The stress is also on creating about 2,000 driving training centres across the country as India has a shortage of 22 lakh drivers, he said..5 per cent of the cost which can be raised by one per cent," Road Transport, Highways, Shipping and Water Resources Minister Gadkari told PTI."New technologies should be preferred. The response from the states has been positive, he said.On September 19, the transport ministers were taken on a guided tour of the Vadodara bus terminal and the Vadodara automated driving testing track to help them get a first-hand account of their modern facilities so that they can be replicated in other states.""If states agree, we can be facilitators and supporters.
The only solution is to promote public transportation and that too on alternative fuel like methanol, ethanol or electricity.New Delhi: The China Water Filled Barrier Manufacturers Centre is ready to partially fund modern bus terminals to be set up by states, Union Minister Nitin Gadkari has said amid holistic efforts to further promote public transport. I have told them I do not want to infringe on your rights," the minister said. If the growth continues like this we will have to create one NH lane every third year for this". This will reduce traffic of cars," he said.Vadodara, Ahmedabad, Surat bus terminals can be replicated in the entire country that needs public transport to check spurt in vehicles, the minister said. Public transportation on electricity is one option
The additional USD 1 billion funding is also likely
While ANI Technologies is not a publicly-traded company, according to regulatory documents, its revenues registered a stellar growth at Rs 758.."Tencent Holdings Limited, a leading Internet company in China, will bring significant expertise to Ola as it furthers its leadership position across the mobility market in India," the firm added. It, however, did not disclose the time period when the funding was raised or the timeline for the closure of the total USD 2 billion round.Ola looks forward to learn and benefit from Tencents global perspectives and ecosystems, he added.77 crore in the previous fiscal. Martin Lau, President of Tencent Holdings, said the strategic partnership with Ola "makes it possible for Tencent to be part of the fast-growing ride-hailing space in the country". ANI Technologies, which operates Ola, counts among its investors names like SoftBank Group, Tiger Global, Sequoia India and Accel Partners US. It has operations across 110 Indian cities.The funding will help Ola bolster its position against the US-based rival Uber. The two are locked in an intense battle for leadership in the Indian market and have pumped in millions of dollars in driver incentives and discounted rides for customers."The transportation and mobility industries are seeing huge changes globally.Ola said it will make strategic investments in supply, technology and innovations "to build for the countrys unique transportation needs".
The additional USD 1 billion funding is also likely to be closed in the next few weeks, they added.The cab aggregator also plans to make significant technology investments into artificial intelligence and machine learning capabilities.According to industry sources, who did not wish to be named as the discussions are private, the USD 1.1 billion in funding led by Tencent Holdings and is in "advanced talks" to close an additional USD 1 billion to conclude a total mop-up of over USD 2 billion.23 crore during 2015-16 compared to Rs 103. Our ambition is to build a globally competitive and futuristic transportation system in India that will support and accelerate a nation on the move," Ola co- founder and CEO Bhavish Aggarwal said in the statement. Earlier this year, Tencent was part of Flipkarts USD 1. Existing investor SoftBank, in addition to other new US-based financial investors, has also participated in this round, Ola said in a statement.However, Ola suffered a consolidated loss of over Rs 2,311 crore -- about Rs 6 crore a day -- during that fiscal on account of heavy advertising and promotional expenses and other costs.1 billion came in over the last 4-6 months in tranches.4 billion fund raising that also saw participation from Microsoft and eBay.Tencent is also aggressively investing in the country to cash in on the burgeoning Indian Internet market.New Delhi: China rubber Warning post Factory Transportation app Ola on Wednesday said it has raised USD 1.The company did not disclose the valuations at which funds were raised
The Transportation Department plans a meeting
Toyota’s announcement is a major blow to advocates of DSRC."The chance that the band could be subjected to "harmful interference from unlicensed operations. creates a substantial and arguably insurmountable risk," the company said.Ford said in January it planned to deploy cellular vehicle-to-everything technology, or C-V2X , in all new US vehicle models beginning in 2022."The NHTSA was "exploring other technologies" including cellular-based services being pursued by Ford Motor Co, she said.Automakers have been divided over whether to proceed with the DSRC system or use a 4G- or 5G-based system in the United States."Automakers were allocated a section of spectrum for DSRC in the 5."On Friday, it said in a letter to the Federal Communications Commission (FCC) that "unfortunately we have not seen significant production commitments from other automakers.9 GHz band, they say. Testing has gone on for years to see if the band can be shared.
The Trump administration has not acted on the proposal.DSRC transmissions enable vehicle-to-vehicle and vehicle-to-infrastructure communications and broadcast precise vehicle information up to 10 times per second, including location, speed and acceleration."Toyota’s announcement means it is "imperative that the FCC provide clear guidance and certainty to the private sector companies and road operators that are trying to create a safer environment," said the Intelligent Transportation Society of American, a group representing public, private and academic organizations.Toyota said Friday’s decision was based on "a range of factors, including the need for greater automotive industry commitment as well as federal government support to preserve the 5.9 GHz spectrum band for DSRC.NHTSA has estimated that connected vehicles technologies could eliminate or reduce the severity of up to 80 per cent of crashes not involving impaired drivers..9 GHz band in 1999 but it has essentially gone unused.The Japanese automaker announced plans in April 2018 Traffic Safety to begin the installation of DSRC technology in 2021 "with the goal of adoption across most of its lineup by the mid-2020s.It said that it would "continue to re-evaluate the deployment environment" and said it is still a strong backer of DSRC "because we believe it is the only proven and available technology for collision avoidance communication. Some FCC and cable company officials want to reallocate the spectrum for WiFi and other uses. The cellular option has issues, including problems with interoperability, and is not mature enough to be deployed in the 5..Toyota Motor Corp said on Friday it was halting plans to install Dedicated Short-Range Communications technology on US vehicles aimed at letting cars and trucks communicate with one another to avoid collisions..
The Transportation Department plans a meeting on Monday with automakers and state transportation officials about connected vehicle efforts, officials said on Friday.Last year, the acting head of the US National Highway Traffic Safety Administration, Heidi King, said the agency’s "past research has centered around DSRC — because that was the only technology available.DSRC supporters note the US Transportation Department has invested over $700 million in the system’s development.General Motors Co backs DSRC and has installed the technology on a small number of Cadillac CTS sedans it has sold since 2017.In December 2016, the Department of Transportation proposed to mandate DSRC in all new vehicles
