Institutional Shareholder Services on Friday recommended that investors in both companies approve Tesla Motors' plan to buy solar panel installer SolarCity for more than $2 billion.The backing from the Institutional Shareholder Services of the deal is a key endorsement at a time when shareholder resistance against the takeover remains high. SolarCity's stock rose 9 per cent on Friday to $20.40.
The electric carmaker also signaled it has substantially reduced the costs for launching production of its high volume Model 3 sedan next year
It is the first step by Tesla towards self-driving taxi service, but the software is not yet ready
In a blog post, the maker of electric cars said the new hardware will allow the vehicles to operate without a human driver
The new hardware package will cost $8,000, Musk told reporters
Kreisel Electric says it's fielding 20 inquiries a day from automotive icons including BMW AG, Mclaren Automotive and Volkswagen
A Chinese security team has hacked a Tesla Model S and revealed several vulnerabilities in the luxury electric car
The supplier expressed safety concerns regarding Tesla's plans to allow drivers to remove hands from the wheel while driving
Tesla Motors faces questions about safety of its technology after the fatal crash in China
It is also under federal investigation in the United States for another fatal crash in May
The Tesla driver crashed earlier this month while on a Beijing commuter highway after the car failed to avoid a vehicle parked on the left side, partially in the roadway, damaging both cars but causing no injuries
The crash, Tesla's first known such incident in China, comes months after a fatal accident in Florida
Tesla anticipates $150 million in costs savings in the first full year after closing of any tie-up with SolarCity
The two firms are in the final stages of due diligence on each other, and could agree on the terms of a deal soon
Tesla's experiments with cars under watch
In cities where demand exceeds the supply of customer-owned cars, Tesla will operate its own fleet: Elon Musk
Nitin Gadkari who visited the company's San Francisco factory on Friday, offered land near major Indian ports to facilitate exports
Last month, Tesla cut the base price of its Model S sedan to $66,000
Tesla has said Autopilot should be used as a backup and not as a replacement for the driver
The traffic safety agency is trying to determine whether the car's Autopilot system was at fault