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Tesla invites Europeans to take ‘Drive To Believe’ challenge: one week with Model S

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A new program being offered by Tesla invites residents in select European markets to participate in the company’s latest ‘Drive To Believe’ challenge and win a chance to experience Model S through an extended one week test drive.

Residents of the UK, Germany, Netherlands, Norway, Sweden, Switzerland, France, Austria, Belgium, Finland, Luxembourg, Italy, Denmark, and Ireland that win the challenge will have the opportunity to swap their existing vehicles for a Tesla Model S on specific dates between November 16 and December 31, 2016.

“At Tesla, we believe that it takes driving a Tesla and experiencing its superior performance, safety, and technology, to be convinced. We now want to give you that opportunity as well.”, reads the description on Tesla’s ‘Drive to Believe’ online form.

It’s no secret that Tesla is making a significant investment in expanding its European footprint. CEO Elon Musk recently told investors that the company has plans to expand its battery production into Europe with a second Gigafactory. The company also recently announced that it had acquired top-notch German engineering firm Grohmann Engineering to form a new division aimed at building automated assembly systems, a step towards Musk’s goal of “building the machine that builds the machine”. Continued efforts on scaling Tesla’s European infrastructure while streamlining manufacturing processes and logistics allows the company to position itself ahead of demand.

Meanwhile, programs such as the latest ‘Drive To Believe’ challenge allows the company’s sales arm to focus on driving demand overseas. Secondarily, by having prize winners sign off on terms that would allow Tesla to film their experience with a Model S, the company is able to leverage its Customer Stories program as a tool to build trust among interested buyers and further stimulate sales efforts.

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We’ve included the full details of Tesla’s ‘Drive to Believe’ European competition.

TESLA ‘DRIVE TO BELIEVE’ EUROPEAN COMPETITION 2016

1. The promoter
1.1 The promoter is: Tesla Motors Netherlands B.V., Burgemeester Stramanweg 122 (1101 EN), Amsterdam Netherlands (Tesla).

2. The competition
2.1 The title of the competition is TESLA ‘DRIVE TO BELIEVE’.
2.2 Entrants must answer a skill-based question within the space provided in the competition field online at www.tesla.com/drive-to-believe
2.3 The competition will run in one phase. For you to be eligible for the competition, your entry must be submitted between 00:01 on 16th November to 23:59 on 31 December 2016
2.4 You may enter the competition only once.
2.5 All competition entries received after 23:59 on 31 December 2016 will be automatically disqualified from the competition.
2.6 To enter the competition you must fill in all required fields on www.tesla.com/drive-to-believe
2.7 Participation in the competition can only take place at www.tesla.com/drive-to-believe. No applications to enter made in any other manner will be accepted.
2.8 No purchase necessary.
2.9 Tesla will not accept:
(a) responsibility for competition entries that are lost, mislaid, damaged or delayed in transit, regardless of cause, including, for example, as a result of any equipment failure, technical malfunction, systems, satellite, network, server, computer hardware or software failure of any kind; or
(b) proof of transmission as proof of receipt of entry to the competition.
2.10 By submitting a competition entry, you are agreeing to be bound by these terms and conditions.
2.11 The competition entry selection will be based on the entrant’s specific eligibility for the competition. The decision of Tesla (acting reasonably) will be final. Tesla reserves the right to amend the criteria used to judge entries.
2.12 By entering the competition, you hereby warrant that all information submitted by you in your entry is true, accurate and complete in every respect. Tesla reserves the right to verify any information contained in your entry and/or your eligibility to enter the competition.
2.13 Tesla reserve the right in its absolute discretion to disqualify any entrant if it has reasonable grounds to believe that an entrant has breached any of these terms and conditions or any applicable law. Each entrant acknowledges and agrees that any failure to comply with these terms and conditions could lead to Tesla disqualifying that person, without Tesla giving any reason for such disqualification or granting any opportunity for challenge.
2.14 In the event that a prize-winner is disqualified from the competition, Tesla will select an alternative prize-winner in the same manner as the original prize-winner and such selection will be subject to these terms and conditions.

3. Eligibility
3.1 The competition is only open to all residents in the following European markets: UK, Germany, Netherlands, Norway, Sweden, Switzerland, France, Austria, Belgium, Finland, Luxembourg, Italy, Denmark, Ireland
3.2 Entrants must be 25 years of age or above and own a car and hold a valid driver’s license for the market they reside in and enter the competition from.
3.3 Entrants must be able to provide proof of identity.
3.4 Entrants must be willing to be filmed and for all footage and image and voice recordings of their person to be used for Tesla promotional purposes, in all media, globally, in perpetuity for no additional fee or financial remuneration of any kind.
3.5 Any person that is any of the following is not eligible to win the competition:
(a) an employee of Tesla or its holding or subsidiary companies;
(b) an employee of agents or suppliers of Tesla or its holding or subsidiary companies, who are professionally connected with the competition or its administration; or
(c) a member of the immediate families or households of (a) and (b) above.
Tesla reserves the right to disqualify any person that it knows is, or has reasonable grounds to believe is, ineligible for the competition as a result of this condition.
3.6 In entering the competition, you confirm that you are eligible to do so and eligible to claim the prize. Tesla may require you to provide proof that you are eligible to enter the competition.
3.7 Tesla will not accept competition entries that are:
(a) automatically generated by computer;
(b) completed by third parties;
(c) illegible, have been altered, reconstructed, forged or tampered with;
(d) incomplete.
3.8 There is a limit of one entry per person for the duration of the competition. In the event that Tesla discovers or has reasonable grounds to believe that the same person has made multiple entries, such person and any entries made by them shall be disqualified and, if such entrant has already been selected as a prize-winner, an alternative prize-winner will be selected in accordance with condition 2.14
3.9 Tesla reserves all rights to disqualify you if your conduct is contrary to the spirit or intention of the competition or if you engage in political slogans or homophobic language, behaviour of a lewd or explicitly sexual nature or engage in content which is defamatory, obscene, illegal, vulgar, offensive or otherwise unsuitable or infringes others’ rights (including intellectual property rights).

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4 The prize
4.1 The prize is as following:
(a) Competition winners must swap their current car for a Tesla Model S for the duration of one week to take place on specific dates Tesla will select between 00:01 on 16th November to 23:59 on 31 December 2016.
4.2 The prize is supplied by Tesla.
4.3 There is no cash alternative for the prize. The prize is not negotiable or transferable.
4.4 In order to claim the prize you must comply with condition 6.

5. Winner announcement
5.1 The winners of the competition will be announced across all media to be selected by Tesla on a date or dates to be selected by Tesla.
5.2 The decision of Tesla is final and no correspondence or discussion will be entered into.
5.3 Tesla will contact the winner personally as soon as Tesla has selected a shortlist of winners.

6. Claiming the prize
6.1 If you are the winner of the prize, you will have 2 days from the Announcement Date to claim the prize. If you do not claim the prize within this timeframe, your claim will become invalid.
6.2 The prize may not be claimed by a third party on your behalf.
6.3 Tesla will make all reasonable efforts to contact the winner. If the winner cannot be contacted or is not available, or has not claimed their prize within 2 days of contact, Tesla reserves the right to offer the prize to the next eligible entrant selected from the correct entries that were received.
6.4 Tesla does not accept any responsibility if you are not able to take up the prize.
6.5 No prize will be awarded where any entrant has committed any form of misconduct (as determined by Tesla in its sole discretion).

7. Limitation of liability
Insofar as is permitted by law, Tesla, its agents or distributors will not in any circumstances be responsible or liable to compensate the winner or accept any liability for any loss, damage, disappointment, personal injury or death occurring as a result of any entrant entering this competition, taking up the prize, or as a result of any entrant winning or not winning any prize, except where it is caused by the negligence of Tesla, its agents or distributors or that of their employees. Your statutory rights are not affected.

8. Ownership and intellectual property rights
8.1 You agree that Tesla (and any third party authorised by Tesla) may use your person, voice and image for any promotional purpose (for example, placing it on the Tesla webpage and social channels for advertising media. You give Tesla (and any third party authorised by Tesla) your irrevocable permission to use, reproduce, publish, display, transmit, copy, amend, store, sell and sub-license your person, voice and image worldwide and in perpetuity for promotional purposes and for the purposes of the competition. Tesla will own the right to your image and voice recordings captured during the duration of the competition.
8.2 By submitting your competition entry, you agree to:
(a) assign to Tesla all your voice and image rights with full title guarantee; and
(b) waive all moral rights,
8.3 You agree that Tesla may, but is not required to, make your personal image and voice recordings available on our social media channels and websites and any other media, whether now known or invented in the future, and in connection with any publicity of the competition. You agree to grant Tesla a non-exclusive, worldwide, irrevocable license, for the full period of any intellectual property rights in your image and voice recordings, to use, display, publish, transmit, copy, edit, alter, store, re-format for such purposes.

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9. Data protection and publicity
9.1 If you are the winner of the competition you agree that Tesla may use your name, image, and town or country of residence to announce the winner of this competition and for any other reasonable and related promotional purposes.
9.2 You further agree to participate in any reasonable publicity required by Tesla.
9.3 By entering the competition, you agree that any personal information provided by you with the competition entry may be held and used only by Tesla or their agents and suppliers to administer the competition.

10. General
10.1 If there is any reason to believe that there has been a breach of these terms and conditions, Tesla may, at its sole discretion, reserve the right to exclude you from participating in the competition.
10.2 In the event of any dispute regarding these terms and conditions, the conduct or results of the competition, or any other matter relating to a competition, the decision of Tesla shall be final and unchallengeable and no correspondence or discussion shall be entered into, comment issued, or reason given in respect of any decision made by Tesla.
10.3 Tesla reserves the right to hold void, suspend, cancel, or amend all or any part of the competition where it becomes necessary to do so. Any changes to these terms and conditions, or cancellation of the competition, will be posted on the Tesla website. It is the responsibility of entrants to keep themselves informed as to any changes to the terms and conditions.
10.4 These terms and conditions and any dispute arising out of or in connection with them or their subject matter (including any non-contractual disputes or claims) shall be governed by the laws of the Netherlands and the parties submit to the exclusive jurisdiction of the courts of The Netherlands.

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xAI targets $5 billion debt offering to fuel company goals

Elon Musk’s xAI is targeting a $5B debt raise, led by Morgan Stanley, to scale its artificial intelligence efforts.

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(Credit: xAI)

xAI’s $5 billion debt offering, marketed by Morgan Stanley, underscores Elon Musk’s ambitious plans to expand the artificial intelligence venture. The xAI package comprises bonds and two loans, highlighting the company’s strategic push to fuel its artificial intelligence development.

Last week, Morgan Stanley began pitching a floating-rate term loan B at 97 cents on the dollar with a variable interest rate of 700 basis points over the SOFR benchmark, one source said. A second option offers a fixed-rate loan and bonds at 12%, with terms contingent on investor appetite. This “best efforts” transaction, where the debt size hinges on demand, reflects cautious lending in an uncertain economic climate.

According to Reuters sources, Morgan Stanley will not guarantee the issue volume or commit its own capital in the xAI deal, marking a shift from past commitments. The change in approach stems from lessons learned during Musk’s 2022 X acquisition when Morgan Stanley and six other banks held $13 billion in debt for over two years.

Morgan Stanley and the six other banks backing Musk’s X acquisition could only dispose of that debt earlier this year. They capitalized on X’s improved operating performance over the previous two quarters as traffic on the platform increased engagement around the U.S. presidential elections. This time, Morgan Stanley’s prudent strategy mitigates similar risks.

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Beyond debt, xAI is in talks to raise $20 billion in equity, potentially valuing the company between $120 billion and $200 billion, sources said. In April, Musk hinted at a significant valuation adjustment for xAI, stating he was looking to put a “proper value” on xAI during an investor call.

As xAI pursues this $5 billion debt offering, its financial strategy positions it to lead the AI revolution, blending innovation with market opportunity.

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SpaceX to debut new Dragon capsule in Axiom Space launch

Ax-4’s launch marks the debut of SpaceX’s latest Crew Dragon and pushes Axiom closer to building its own space station.

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spacex-dragon-axiom-ax-4-mission-iss
(Credit: SpaceX)

Axiom Space’s Ax-4 mission targets the International Space Station (ISS) with a new SpaceX Crew Dragon capsule.

The Axiom team will launch a new SpaceX Dragon capsule atop a Falcon 9 rocket from NASA’s Kennedy Space Center in Florida on Wednesday at 8:00 a.m. EDT (1200 GMT). The Ax-4 mission launch was initially set for Tuesday, June 10, but was delayed by one day due to expected high winds.

As Axiom Space’s fourth crewed mission to the ISS, Ax-4 marks the debut of an updated SpaceX Crew Dragon capsule. “This is the first flight for this Dragon capsule, and it’s carrying an international crew—a perfect debut. We’ve upgraded storage, propulsion components, and the seat lash design for improved reliability and reuse,” said William Gerstenmaier, SpaceX’s vice president of build and flight reliability.

Axiom Space is a Houston-based private space infrastructure company. It has been launching private astronauts to the ISS for research and training since 2022, building expertise for its future station. With NASA planning to decommission the ISS by 2030, Axiom has laid the groundwork for the Axiom Station, the world’s first commercial space station. The company has already begun construction on its ISS replacement.

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The Ax-4 mission’s research, spanning biological, life, and material sciences and Earth observation, will support this ambitious goal. Contributions from 31 countries underscore the mission’s global scope. The four-person crew will launch from Launch Complex 39A, embarking on a 14-day mission to conduct approximately 60 scientific studies.

“The AX-4 crew represents the very best of international collaboration, dedication, and human potential. Over the past 10 months, these astronauts have trained with focus and determination, each of them exceeding the required thresholds to ensure mission safety, scientific rigor, and operational excellence,” said Allen Flynt, Axiom Space’s chief of mission services.

The Ax-4 mission highlights Axiom’s commitment to advancing commercial space exploration. By leveraging SpaceX’s Dragon capsule and conducting diverse scientific experiments, Axiom is paving the way for its Axiom Station. This mission not only strengthens international collaborations but also positions Axiom as a leader in the evolving landscape of private space infrastructure.

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Tesla named official AV operator in Austin ahead of robotaxi launch

Tesla robotaxis could begin operating around Austin any day now, as echoed by an update to the city’s website.

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Just as Tesla prepares to launch its own commercial robotaxi services in Austin, Texas this month, the company has now appeared on the state’s website as an official operator of autonomous vehicles (AVs).

As of Monday, Tesla has been listed as an AV operator on Austin’s official Department of Motor Vehicles (DMV) site, ahead of the company’s expected launch of the long-awaited service sometime this month. The news, which X user Tesla Yoda first spotted, precedes some reports suggesting the robotaxi service could launch in the coming days, and it comes as the city becomes an increasingly competitive stomping ground for the emerging technology.

Although Tesla has been included on the list, the website says that Tesla is still in the testing phase, alongside most of the other AV operators in the city. At this time, Alphabet-owned robotaxi company Waymo is the only operator listed as being in the deployment phase, while Hyundai-owned company Motional is listed as being in the mapping phase.

Tesla is set to initially deploy the service as a limited pilot program using the company’s existing Model Y vehicles, and it will start by testing them in the safest areas of the city within geo-mapped boundaries as extra safety precautions upon launch.

Below you can see the full list of AV operators on the Austin DMV website at the time of writing, including both the Alphabet-owned Waymo and the Amazon-run Zoox.

Current list of AV operators in Austin

  • ADMT
    • Phase: testing
    • Parent company: VW
  • AVRide
    • Phase: testing
    • Parent company: AVRide Inc
  • Motional
    • Phase: mapping
    • Parent company: Hyundai
  • Waymo
    • Phase: deployment
    • Parent company: Alphabet (Google)
  • Tesla
    • Phase: testing
    • Parent company: Tesla
  • Zoox
    • Phase: testing
    • Parent company: Amazon

READ MORE ON AUTONOMOUS VEHICLES: Elon Musk just revealed more about Tesla’s June Robotaxi launch

Tesla’s Austin robotaxi launch, Full Self-Driving, and other AV companies

The news follows a report from Bloomberg a few weeks ago saying that Tesla was considering a launch date of June 12 for the service, though the validity of that report is still unclear. Additionally, Tesla could still change its plans on a launch date, though the company’s inclusion on the Austin DMV AV operators list appears to be a good sign either way.

The company has also been running internal pilot programs for the robotaxi service in Austin and around the Bay Area, California, with around 300 test operators operating the vehicles in the Texas city since at least April. Last fall, CEO Elon Musk also said that employees had already been piloting a ride-hailing program around the Bay.

Tesla has long touted its Full Self-Driving (FSD) program as the solution to autonomy, with the system utilizing cameras and real-time driver footage to train its AI neural network on how to drive. By comparison, most other companies utilize cameras and radar systems together, while relying on geo-mapped systems to determine where the robotaxi can operate.

Waymo launched driverless ride-hailing services in Austin through a partnership with Uber, though the company has also been running paid robotaxi rides in various parts of California since last year through its Waymo One app. Other companies such as the Amazon-owned firm Zoox and the Hyundai-led company Motional are also preparing to deploy services in Austin and other U.S. cities.

Tesla’s ‘Project Alicorn’ and what it means for the Robotaxi platform

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