News
Porsche discontinues entire diesel lineup in favor of clean-energy cars like the Taycan
Porsche has announced that it would be fully discontinuing its lineup of diesel-powered vehicles. The veteran automaker noted that its decision is fueled by its commitment to the upcoming electrification of its fleet, which the company expects to achieve by 2025.
The company’s announcement comes roughly five months after a senior manager at Porsche in Germany was arrested due to involvement in parent company Volkswagen’s high-profile Dieselgate scandal. Dieselgate, which emerged in 2015, involved Volkswagen’s practice of modifying the diesel engines of some of its cars to cheat laboratory emissions tests. Amidst the fallout from the scandal, Volkswagen had to pay billions of dollars worth of buybacks and repairs. The company was also required to initiate clean-energy campaigns to make up for the environmental damage its modified diesel-powered vehicles caused.
Porsche, for its part, has taken the clean-energy initiative seriously. In 2015, Porsche unveiled its Mission E sedan concept, a vehicle that is now dubbed as the Taycan. Just like the Tesla Model S, the Taycan is built and designed to be an all-electric car through and through, and it is expected to be competitive in the premium EV industry when it enters the market next year. Other variants of the Mission E line, such as the off-road-optimized Mission E Cross Turismo, have been unveiled earlier this year as well.
Ultimately, the company’s abandonment of its diesel line is not out of character for Porsche. The company, after all, has steadily been moving away from diesel propulsion since 2015. The last Porsche model that is powered by diesel, for example, was offered in the United States back in November 2015. Last year, only 12% of Porsche’s global sales came from its diesel fleet. That said, Oliver Blume, chief executive of Porsche did note in a statement to CNN Money that the company is not in any way “demonizing diesel.”
“It is, and will remain, an important propulsion technology. We as a sports car manufacturer, however, for whom diesel has always played a secondary role, have come to the conclusion that we would like our future to be diesel-free,” he said.
By 2025, Porsche plans to transition half of its offerings to either hybrid or all-electric systems. Porsche has selected the Taycan to be its flag-bearer as it takes its first steps towards electrification, and over the past months, sightings of the Taycan’s test mules conducting real-world testing in several countries suggest that Porsche is heavily refining the vehicle before its release. The Taycan’s platform is also expected to be used in the Audi Sport E-tron GT, a concept vehicle set for debut this coming November at the 2018 Los Angeles Auto Show.
Porsche notes that the Taycan will feature its trademark performance, with the vehicle being listed with a 0-60 mph time of 3.5 seconds, a range of 310 miles per charge, and a top speed of 155 mph. Pre-orders for the Taycan have been opened to interested buyers in selected regions, and so far, Porsche has noted that the reception to the car has been very positive.
Investor's Corner
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
Tesla short seller Michael Burry, the subject of the film “The Big Short,” where he was portrayed by Steve Carell, has revealed he has opened a new bet against the stock.
In a new update to his Substack newsletter in a post titled “Trading Post June 30, 2026,” Burry revealed a new set of bets against Tesla, Caterpillar, NVIDIA, Applied Materials Inc., and the iShares Semiconductor ETF.
In regard to Tesla, Burry wrote:
“And finally I shorted Tesla at 416.22. Happy it jumped back to this level.”
This means Burry likely opened his new short position after the company’s recent rally on Wall Street, which saw Tesla shares sink in mid-May, only to recover to well over the $400 mark. Currently, shares trade at around $427.
The company saw a big Tuesday as shares climbed considerably, over 10 percent. The size of the Tesla short was not provided, nor did Burry give any information on the position’s structure, the number of shares, dollar value, or whether options were used in the short.
The Tesla and SpaceX merger everyone is talking about is quietly building
Over the years, Burry has been one of the more vocal critics of Tesla, calling its share price “media inflated,” and saying it was “ridiculously overvalued” as recently as December.
The company has largely transitioned away from being known as an automotive company and instead is much more widely regarded as an AI play, mostly due to its Full Self-Driving efforts, Optimus robot development, and data collection related to both.
This has not pulled those skeptics away from being vocal about their distaste for how Tesla is valued, but there’s no denying that the company is a global force in many things, including sustainable energy, automotive, and AI.
Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).
Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.
“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”
Elon Musk called it Epic: The full story of SpaceX’s Starship Flight 12
Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.
It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”
Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.
There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:
“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”
SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.
Tesla has expanded the footprint of a massive safety feature worldwide with a recent Software Update labeled as 2026.20.6. The expansion of the “Blind Spot Warning While Parked” feature represents the more widespread availability of the feature, which aims to prevent “dooring.”
Dooring is when a driver or passenger opens a car door into the path of an oncoming road user, usually a cyclist or motorcyclist. It is among the most common types of cycling accidents, the League of American Bicyclists says.
For this reason, Tesla created a feature that warns occupants not to open the door because an object is approaching. The feature will sound a chime, and it will also delay the opening of the door to prevent an incident.
The release notes state (via Not a Tesla App):
“If you attempt to open a door while an approaching object is detected in your blind spot (for example, a bicyclist approaching from behind) a chime sounds, and your door will not open upon initial button press. Wait a short time and press the button a second time to override the warning.”
Tesla initially rolled out this feature back in 2024 with the Model 3 “Highland.” However, it remained with the Model 3 exclusively for over a year; that was until Tesla added it to the Cybertruck this past Spring.
Now, it is making its way to the new Model Y, 2021 and newer Model S, and 2021 or newer Model X.
The prevention of dooring incidents could eliminate many injuries to cyclists, especially in an urban setting. Dooring accounts for 10-20 percent of bike-related crashes in major cities, and over 17,000 dooring-related incidents were treated in the U.S. over the course of a decade. These usually involve fractures, contusions, and head trauma.
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
SpaceX gets initial stock coverage from Tesla’s biggest bull
