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Tesla partners with Origence for credit union-based financing program

Credit: Tesla

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Tesla and Origence, which describes itself as the leading credit union technology company in the United States, have announced a partnership that will allow the automaker to offer car buyers financing through a credit union when ordering a vehicle through the company’s website.

Credit unions are an advantageous way to finance a vehicle because they can offer lower rates, lower or fewer fees, and more personalized service than a traditional large bank can.

Tesla owners will now have access to more competitive rates and extended financing terms, which will help lower the monthly payment of a vehicle as rates in today’s economy are higher than they have ever been.

Financing options are already available for Tesla vehicles, including all four cars in the S3XY lineup, and now the Cybertruck.

But Origence will leverage its new subsidiary, FI Connect, to purchase and place retail contracts with partner credit unions nationwide, it said.

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When a car buyer finances their vehicle through FI Connect, a credit union will buy the contract.

Tony Boutelle, President and CEO of Origence, commented on the partnership with Tesla:

“Tesla is making their cars more affordable for credit union members with price adjustments. With FI Connect and Tesla coming together, EV buyers can receive affordable financing through credit unions.”

In the past, Tesla has tried a variety of different ways to make payments on its vehicles more affordable.

Outside of cutting prices a variety of times, bringing prices well below the average transaction price of a new vehicle in today’s economy, the automaker has already offered extended financing terms, which bring the monthly payment down.

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However, this will also extend the payment period and make buyers pay more interest through the life of the loan. In July, Tesla opened the 84-month financing term, which extends the life of the loan to seven years.

Tesla opens up new financing term option for EV customers

Many experts would say that if you need seven years to pay off a loan, you probably shouldn’t buy that car to begin with.

However, it can be cost-effective in some cases, especially if someone is deadset on buying a certain car but cannot afford the monthly payment at a shorter term.

There are also refinancing options, which can help car buyers eliminate some of that interest if the financial situation changes into the life of the loan.

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The partnership with Origence will bring the advantages of credit union financing to Tesla owners.

Please email me with questions and comments at joey@teslarati.com. I’d love to chat! You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Elon Musk’s AI empire grows as xAI leases Palo Alto space near Tesla

The expanding footprint of Elon Musk’s companies in Palo Alto bodes well for the CEO’s plans in the area.

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Credit: xAI/X

Elon Musk’s artificial intelligence startup, xAI, is expanding its Silicon Valley footprint, leasing roughly 105,000 square feet of office space at Palo Alto’s Page Mill Center, just blocks away from Tesla’s engineering complex.

Musk’s deepening Silicon Valley footprint

People familiar with the matter have informed the San Francisco Business Times that xAI’s lease at Page Mill Center may already have been finalized, adding to the company’s existing headquarters at 1450 Page Mill Road. The two offices share a parking lot, reflecting Musk’s strategy of consolidating his ventures. Tesla’s engineering hub is also just a few blocks away.

The new offices form a growing cluster of Musk-led companies in the heart of the Valley and come as xAI has listed over 250 job openings. These include listings for engineers, designers, and technical staff, among others. 

xAI’s aggressive hiring push hints at rapid scaling, which makes quite a lot of sense considering the company’s ambitious projects. xAI oversees the large language model Grok and other AI initiatives such as the newly launched Grokipedia, and the startup has also acquired the social media platform X. Real estate owner Hudson Pacific Properties, the owners of Page Mill Center, have so far declined to comment.

AI demand and Silicon Valley’s office rebound

Silicon Valley’s office market, long subdued by remote work trends, is seeing renewed activity from AI firms. Hudson Pacific told investors this summer that tenant demand has reached a three-year high, with over half of new leases driven by artificial intelligence companies. Vacancy rates have now fallen for four straight quarters to 16.6% as well, CBRE reported.

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The expanding footprint of Elon Musk’s companies in Palo Alto bodes well for the CEO’s plans in the area. Musk, after all, has previously butted heads with officials, resulting in his two biggest ventures, electric vehicle maker Tesla and private space company SpaceX, officially relocating their headquarters to Texas.

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Starship lunar update shows SpaceX will not give up the Moon without a fight

SpaceX stated that the revised concept aims to “result in a faster return to the moon while simultaneously improving crew safety.”

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Credit: SpaceX

SpaceX is reassessing its Starship mission plan for NASA’s Artemis 3 program, exploring what it calls a “simplified” architecture that could accelerate the first crewed lunar landing of the 21st century. 

The private space company stated that the revised concept aims to “result in a faster return to the moon while simultaneously improving crew safety,” following NASA’s decision to reopen the lunar mission contract to new competition.

SpaceX outlines HLS progress

In a blog post titled To the Moon and Beyond, SpaceX detailed recent Starship milestones and reaffirmed its role as a “core enabler” of NASA’s lunar ambitions. As per SpaceX, its efforts are not just aimed at returning to the Moon. It is aimed at establishing a permanent, sustainable presence on the lunar surface. 

“Since the contract was awarded, we have been consistently responsive to NASA as requirements for Artemis III have changed and have shared ideas on how to simplify the mission to align with national priorities. In response to the latest calls, we’ve shared and are formally assessing a simplified mission architecture and concept of operations that we believe will result in a faster return to the Moon while simultaneously improving crew safety,” SpaceX wrote in its post.

The post described Starship’s vast potential for lunar operations, noting that a single vehicle provides over 600 cubic meters of pressurized habitable volume, roughly two-thirds that of pressurized volume of the entire International Space Station, and is “complete with a cabin that can be scaled for large numbers of explorers and dual airlocks for surface exploration.” 

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SpaceX also mentioned its fixed-price NASA contract, which ensures taxpayer protection while incentivizing milestone-based progress. As part of its preparations for a Moon mission, SpaceX plans to conduct a key in-space refueling demonstration in 2026, as noted in a Space.com report. Regerdless, SpaceX is still continuing the parallel development of its “core” Starship for Mars and deep-space exploration.

SpaceX’s update followed NASA concerns

NASA Acting Administrator Sean Duffy recently voiced frustration over Starship’s pace, noting on CNBC that SpaceX “pushed their timelines out” while the U.S. remains in a race against rivals. In a comment, Duffy stated that NASA will not wait for one company as it pushes forward with its Artemis program.

“I love SpaceX. It’s an amazing company. The problem is, they’re behind. They’ve pushed their timelines out, and we’re in a race against China. The president and I want to get to the Moon in this president’s term, so I’m going to open up the contracts. I’m going to let other space companies compete with SpaceX, like Blue Origin,” Duffy said.

Elon Musk publicly criticized Duffy over his remarks, but SpaceX’s latest update has shifted the focus back to technical progress and mission readiness. While SpaceX did not elaborate on the details of its simplified architecture, Musk hinted that Starship could eventually accomplish “the whole moon mission” on its own. “Starship will build Moonbase Alpha,” Musk wrote in a recent post on X. 

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Neuralink Head of Surgery teases exciting Tesla Optimus update

If successful, the test could result in Neuralink patients accomplishing impressive feats using Optimus.

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Credit: Tesla

Neuralink’s Head of Surgery has teased what could very well be the an incredibly ambitious and insane collaboration with Tesla Optimus, Elon Musk’s humanoid robot that is expected to start initial trial production sometime next year. 

If successful, the test could result in Neuralink patients accomplishing impressive feats using Optimus.

Neuralink’s current trials

Neuralink recently shared a video of Alex, the second human recipient of its Telepathy device. Alex is part of Neuralink’s PRIME study, and he was selected to be the first patient to control a robotic arm using only his mind. As could be seen in the video, Alex is now capable of operating household appliances using a robotic arm that he controls with his mind. 

In response to the video, which was posted by Neuralink co-founder and President DJ Seo, the startup’s Head of Surgery Mechanical Engineering, Danish Hussain, joked that the company is really just helping out people. This was despite critics arguing that Neuralink is some giant evil corporation. “We’re literally just out here helping the homies eat pretzels lol,” the Head of Surgery ME wrote. 

Next steps with Optimus

The Neuralink Head of Surgery ME’s comments caught quite a bit of attention on X, with some, such as Elon Musk, highlighting that Neuralink is actually a pretty small company. Other commenters also asked whether Neuralink would eventually train its patients with Tesla Optimus V2, a humanoid robot. Hussain shared an exciting response: “We’re starting simple, but this will happen very soon!” he wrote in a post on X.

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Having the capability to control an Optimus robot using only the mind would most definitely be a life-changing ability for Neuralink’s patients. Of course, Tesla might wait until Optimus V3 gets rolled out before such a trial might happen, as that is the variant of the humanoid robot that seems to be heading for mass production. Either way, it seems like an age where Optimus robots can be controlled by thoughts using a Neuralink implant may be coming sooner than expected.

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