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Tesla’s Elon Musk isn’t worried about media negativity: ‘Enough people have the product’

(Credit: Saturday Night Live/Twitter)

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Tesla CEO Elon Musk said that media negativity isn’t something that he worries about because “enough people have the product” that it doesn’t resonate.

“Fud still happening a little, but doesn’t resonate when enough people have the product,” Musk said in a Tweet on Wednesday.

FUD is an acronym for Fear, Uncertainty, and Doubt and is commonly used within the Tesla community to refer to media negativity. Unfortunately, Tesla is all too familiar with the negativity spread in the news and falsified, or stretched truths are often reported as fact, which then skews public perception of the company in a negative way. From things as simple as unconfirmed delays in production to things as severe as Elon Musk’s rumored “emerald mine” that apparently financed his entire life, many media outlets take these stories and run with them.

One of the most common pieces of FUD that the entire electric car industry has had to deal with is the rumor that EVs cause more emissions than gas cars. Although this has been debunked and proven to be false on numerous occasions, it is still a commonly used argument tactic that is often communicated by people who do not believe in electrification.

In recent times, most of Tesla’s media negativity has been portrayed in the form of production delays or construction projects that are being prolonged. One of the most notable was a report from German media outlet Automobilewoche, who stated that a member of Elon Musk’s inner circle said the Giga Berlin plant would be delayed six months. Many media outlets took this as fact and reported it, not doing their due diligence and finding facts or talking to knowledgeable sources.

Teslarati reached out to Brandenburg Economic Minister Jörg Steinbach, who said that Tesla Giga Berlin could begin production as soon as late-Summer or early-Autumn. He was confused about the reports of an early 2022 start.

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He told Teslarati:

“I don’t have the faintest idea of how anyone can come up with a six-month delay. If nothing happens out of the ordinary, I still expect a start of production in late Summer or Early Autumn.”

Since its announcement, Steinbach has been close to the Giga Berlin project and has been a vocal supporter of the company’s presence in Germany. Despite being identified in the article and having credibility because of his relationship to the project, media outlets did not report Steinbach’s quote.

Tesla has also been the subject of numerous attacks in China, especially a recent campaign that alleged a Model X of having faulty brakes. This was recently revealed to be a concerted effort to defame Tesla’s image, and an apology was issued recently by the perpetrator. The incident was revealed to be a skit on TikTok.

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Tesla owners are certainly a breed in their own right. A group that loves their all-electric cars and all that comes with them, they are very aware of the media’s constant efforts to derail the company’s momentum and Tesla’s Wall Street performance. Despite an extended string of seven straight quarters of profitability, Tesla stock has not performed well in 2021. In 2020, the stock rose over 700%.

Tesla’s sub-par market performance could be attributed to the media’s coverage of the company in 2021. Despite profitability, record deliveries, and refreshed vehicle designs, Tesla remains a main source of criticism from many media outlets.

What do you think? Let us know in the comments below, or be sure to email me at joey@teslarati.com or on Twitter @KlenderJoey.

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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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Tesla ends Full Self-Driving purchase option in the U.S.

In January, Musk announced that Tesla would remove the ability to purchase the suite outright for $8,000. This would give the vehicle Full Self-Driving for its entire lifespan, but Tesla intended to move away from it, for several reasons, one being that a tranche in the CEO’s pay package requires 10 million active subscriptions of FSD.

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Credit: Tesla

Tesla has officially ended the option to purchase the Full Self-Driving suite outright, a move that was announced for the United States market in January by CEO Elon Musk.

The driver assistance suite is now exclusively available in the U.S. as a subscription, which is currently priced at $99 per month.

Tesla moved away from the outright purchase option in an effort to move more people to the subscription program, but there are concerns over its current price and the potential for it to rise.

In January, Musk announced that Tesla would remove the ability to purchase the suite outright for $8,000. This would give the vehicle Full Self-Driving for its entire lifespan, but Tesla intended to move away from it, for several reasons, one being that a tranche in the CEO’s pay package requires 10 million active subscriptions of FSD.

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Although Tesla moved back the deadline in other countries, it has now taken effect in the U.S. on Sunday morning. Tesla updated its website to reflect this:

There are still some concerns regarding its price, as $99 per month is not where many consumers are hoping to see the subscription price stay.

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Musk has said that as capabilities improve, the price will go up, but it seems unlikely that 10 million drivers will want to pay an extra $100 every month for the capability, even if it is extremely useful.

Instead, many owners and fans of the company are calling for Tesla to offer a different type of pricing platform. This includes a tiered-system that would let owners pick and choose the features they would want for varying prices, or even a daily, weekly, monthly, and annual pricing option, which would incentivize longer-term purchasing.

Although Musk and other Tesla are aware of FSD’s capabilities and state is is worth much more than its current price, there could be some merit in the idea of offering a price for Supervised FSD and another price for Unsupervised FSD when it becomes available.

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Musk bankers looking to trim xAI debt after SpaceX merger: report

xAI has built up $18 billion in debt over the past few years, with some of this being attributed to the purchase of social media platform Twitter (now X) and the creation of the AI development company. A new financing deal would help trim some of the financial burden that is currently present ahead of the plan to take SpaceX public sometime this year.

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Credit: SpaceX

Elon Musk’s bankers are looking to trim the debt that xAI has taken on over the past few years, following the company’s merger with SpaceX, a new report from Bloomberg says.

xAI has built up $18 billion in debt over the past few years, with some of this being attributed to the purchase of social media platform Twitter (now X) and the creation of the AI development company. Bankers are trying to create some kind of financing plan that would trim “some of the heavy interest costs” that come with the debt.

The financing deal would help trim some of the financial burden that is currently present ahead of the plan to take SpaceX public sometime this year. Musk has essentially confirmed that SpaceX would be heading toward an IPO last month.

SpaceX IPO is coming, CEO Elon Musk confirms

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The report indicates that Morgan Stanley is expected to take the leading role in any financing plan, citing people familiar with the matter. Morgan Stanley, along with Goldman Sachs, Bank of America, and JPMorgan Chase & Co., are all expected to be in the lineup of banks leading SpaceX’s potential IPO.

Since Musk acquired X, he has also had what Bloomberg says is a “mixed track record with debt markets.” Since purchasing X a few years ago with a $12.5 billion financing package, X pays “tens of millions in interest payments every month.”

That debt is held by Bank of America, Barclays, Mitsubishi, UFJ Financial, BNP Paribas SA, Mizuho, and Société Générale SA.

X merged with xAI last March, which brought the valuation to $45 billion, including the debt.

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SpaceX announced the merger with xAI earlier this month, a major move in Musk’s plan to alleviate Earth of necessary data centers and replace them with orbital options that will be lower cost:

“In the long term, space-based AI is obviously the only way to scale. To harness even a millionth of our Sun’s energy would require over a million times more energy than our civilization currently uses! The only logical solution, therefore, is to transport these resource-intensive efforts to a location with vast power and space. I mean, space is called “space” for a reason.”

The merger has many advantages, but one of the most crucial is that it positions the now-merged companies to fund broader goals, fueled by revenue from the Starlink expansion, potential IPO, and AI-driven applications that could accelerate the development of lunar bases.

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Tesla pushes Full Self-Driving outright purchasing option back in one market

Tesla announced last month that it would eliminate the ability to purchase the Full Self-Driving software outright, instead opting for a subscription-only program, which will require users to pay monthly.

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Credit: Tesla

Tesla has pushed the opportunity to purchase the Full Self-Driving suite outright in one market: Australia.

The date remains February 14 in North America, but Tesla has pushed the date back to March 31, 2026, in Australia.

Tesla announced last month that it would eliminate the ability to purchase the Full Self-Driving software outright, instead opting for a subscription-only program, which will require users to pay monthly.

If you have already purchased the suite outright, you will not be required to subscribe once again, but once the outright purchase option is gone, drivers will be required to pay the monthly fee.

The reason for the adjustment is likely due to the short period of time the Full Self-Driving suite has been available in the country. In North America, it has been available for years.

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Tesla hits major milestone with Full Self-Driving subscriptions

However, Tesla just launched it just last year in Australia.

Full Self-Driving is currently available in seven countries: the United States, Canada, China, Mexico, Australia, New Zealand, and South Korea.

The company has worked extensively for the past few years to launch the suite in Europe. It has not made it quite yet, but Tesla hopes to get it launched by the end of this year.

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In North America, Tesla is only giving customers one more day to buy the suite outright before they will be committed to the subscription-based option for good.

The price is expected to go up as the capabilities improve, but there are no indications as to when Tesla will be doing that, nor what type of offering it plans to roll out for owners.

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