Connect with us

News

Tesla (TSLA) stock falls on report of alleged Department of Justice criminal probe

Published

on

Shares of Tesla (NASDAQ:TSLA) fell by more than 5% in midday trading Tuesday following a report that the Silicon Valley electric carmaker is under investigation by the US Justice Department over statements made by company CEO Elon Musk last month pertaining to the company’s possible privatization and the fact that funding had been “secured.”

News of the Justice Department’s investigation was related to Bloomberg News by two individuals familiar with the matter. The criminal investigation will reportedly run alongside a previously reported civil inquiry by the Securities and Exchange Commission (SEC). The criminal investigation is reportedly in its early stages. 

Federal prosecutors reportedly opened the fraud investigation due to Elon Musk’s now-infamous “funding secured” tweet last August 9, which resulted in TSLA stock soaring 11% to $387.46, according to the publication’s sources. Inasmuch as the announcement pushed the company’s stock near its all-time highs on the day of Musk’s tweet, TSLA stock began a long trek down as questions emerged about the source of funding the CEO was referring to in his tweet.

Few details are currently known about the ongoing investigation. That being said, Justice Department probes like the civil inquiries being undertaken by the SEC, are known to take months to complete, with investigations at times ending with prosecutors deciding to take no enforcement action.

Advertisement

A few days after announcing that he is thinking of taking Tesla private, Elon Musk published a blog post stating that the “funding secured” tweet came from talks he has had with Saudi Arabia’s sovereign wealth fund, which took a 5% stake in Tesla earlier this year. The weeks following these announcements were incredibly volatile, as SEC investigations were reportedly begun, lawsuits were filed, and TSLA shares took a dive.

Tesla, for its part, began the process for its possible privatization. Musk hired several high-profile advisers including bankers from Goldman Sachs, as well as attorneys from Wachtell, Lipton, Rosen & Katz. He also hired Silver Lake Partners’ Egon Durban, who brokered and helped bankroll the buyout of Dell when it went private. By August 22, Tesla’s advisers had a list of possible investors that would provide funding for the company’s privatization at $420 per share.

Among the investors that were willing to fund Elon Musk’s go-private initiative were German auto giant Volkswagen AG, as well as Silver Lake Partners itself. Together, the investors reportedly agreed to contribute as much as $30 billion for the deal. At this point, though, Elon Musk already had reservations, particularly since it would be incredibly difficult to bring over TSLA’s retail investors into a privatized Tesla.

Ultimately, Elon Musk opted to walk out of a possible $30 billion deal. An announcement about the company staying public was posted on Tesla’s official blog soon after. Since then, Tesla has focused itself on its original Q3 2018 targets — that is, the continued production ramp of the Model 3 and the company’s aim to become profitable. The company appears poised towards a record quarter, particularly after Elon Musk noted in a letter to employees that Tesla is “about to have the most amazing quarter in (its) history, building and delivering more than twice as many cars as (it) did last quarter.”

Advertisement

Following is Tesla’s official response to the reported DOJ investigation.

“Last month, following Elon’s announcement that he was considering taking the company private, Tesla received a voluntary request for documents from the DOJ and has been cooperative in responding to it. We have not received a subpoena, a request for testimony, or any other formal process. We respect the DOJ’s desire to get information about this and believe that the matter should be quickly resolved as they review the information they have received.”

As of writing, Tesla stock is trading down 2.22% at $288.27 per share.

This story is currently developing.

Advertisement

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

Advertisement
Comments

News

Tesla Semi gets strange-but-understandable comparison from Jay Leno

In a recent interview with MotorTrend, legendary comedian and automotive enthusiast Jay Leno shared his impressions after driving Tesla’s long-range Semi truck, offering one of the most vivid descriptions to date:

Published

on

Credit: Jay Leno's Garage

The Tesla Semi recently received a strange-but-understandable comparison from automotive enthusiast and former long-time late-night television show host Jay Leno.

In a recent interview with MotorTrend, legendary comedian and automotive enthusiast Jay Leno shared his impressions after driving Tesla’s long-range Semi truck, offering one of the most vivid descriptions to date:

“It’s like driving an office building.”

The comparison may seem quirky—office buildings evoke images of immobility rather than motion—but it aptly conveys the experience of commanding a massive 23,000-pound Class 8 electric truck that delivers sports-car acceleration.

Advertisement

Lenotested the production-spec Long Range model, which is rated for up to 500 miles of range. He was visibly impressed by its performance, noting how the enormous vehicle moves with surprising urgency.

“It’s as fast as a Tesla, but it’s like driving an office building,” he remarked. “It’s this huge thing that moves like right now. You go 500 miles. You get 60% charge in 30 minutes. You’re saving on fuel costs. It seems quite good.”

The reaction highlights the cognitive dissonance at the core of the Tesla Semi. Traditional diesel semi-trucks are slow, noisy, and expensive to run. The Semi rewrites the rules with instant torque from its tri-motor electric powertrain, producing up to 800 kW.

Despite its size, the truck feels agile thanks to full electric steering assist, upgraded actuators borrowed from the Cybertruck, and a 48-volt electrical architecture that improves responsiveness and efficiency.

Tesla reports real-world energy consumption below 1.7 kWh per mile for the Long Range version. Megacharger stations can deliver a 60% charge in roughly 30 minutes, making the truck suitable for long-haul operations.

Advertisement

Additional features include an electric Power Take-Off (ePTO) capable of 25 kW for trailer refrigeration or other equipment, and a driver-focused cab with a central seating position for optimal visibility and a quiet, high-tech interior.

Fleet operators stand to benefit significantly from the economics. Diesel trucks often cost nearly one dollar per mile when including fuel, maintenance, and downtime.

Tesla projects the Semi can reduce operating costs to as low as 15 cents per mile through cheaper electricity, regenerative braking that minimizes brake wear, and reduced service requirements. While early deployments, like Pepsi’s, focused on shorter routes, the 500-mile variant targets cross-country applications.

Obstacles remain. A fully loaded tractor-trailer can reach 80,000 pounds, which reduces real-world range compared to the unloaded test conditions. Building out a nationwide Megacharger network will be essential for broader adoption. The Semi also carries a higher upfront price than conventional diesels, though total cost of ownership and available incentives frequently tip the scales in its favor over time.

Advertisement

Tesla Semi hauls fresh Cybercab batch as Robotaxi era takes hold

Leno’s “office building” description resonates because it captures the unexpected thrill of piloting something so large yet so capable. As the trucking industry faces pressure to cut emissions and control rising fuel expenses, the Semi offers a compelling alternative that excels in performance, comfort, and efficiency.

Coming from a man who has driven everything from vintage classics to modern hypercars, Leno’s genuine enthusiasm adds weight to the verdict.

The Tesla Semi is emerging as more than an experimental EV—it represents a practical vision for the future of heavy-duty transport where massive rigs accelerate instantly, and the numbers finally make sense. If fleet results continue to validate the claims, the era of diesel dominance could be drawing to a close.

Advertisement
Continue Reading

News

Tesla expands its mass-market color palette in the U.S.

Delivering a fresh splash of color to its lineup, Tesla is giving U.S. buyers two stunning new blue options that are already turning heads.

Published

on

Credit: Brand0n | X

Tesla has expanded the color palette it offers on its mass market vehicles in the United States, giving buyers of the Model 3 and Model Y a few additional options than before.

Delivering a fresh splash of color to its lineup, Tesla is giving U.S. buyers two stunning new blue options that are already turning heads. Starting on May 8, the automaker updated its North American configurator to introduce Marine Blue on Model Y Premium trims and Frost Blue exclusively on the Model 3 Performance.

The move replaces the long-running Deep Blue Metallic, a staple for over eight years, and brings previously exclusive shades stateside.

Marine Blue, a deep, rich oceanic hue formerly limited to Europe and Asia-Pacific markets, is now available on Model 3 and Model Y RWD and Long Range AWD Premium variants. Priced at a $1,000 upgrade—standard for Tesla’s premium paints—it delivers a sophisticated, metallic finish that shifts beautifully under light.

Tesla North America highlighted the change directly in an official post, confirming Marine Blue as the new flagship blue for non-Performance models.

Frost Blue, on the other hand, is the real crowd-pleaser for enthusiasts. Previously reserved for the flagship Model S and Model X, this lighter, icy metallic shade is now offered at no extra cost on Model 3 Performance and Model Y Performance trims.

Advertisement

Performance buyers effectively get a premium color included in the base price, a smart perk that Tesla has extended to higher-end variants across the board. Early in-person sightings and configurator renders show Frost Blue’s cool, modern vibe popping against the cars’ sleek lines, especially with black wheels and red brake calipers.

The timing couldn’t be better. With Tesla pushing refreshed Model 3 and Model Y refreshes amid growing competition, these updates add visual excitement without major redesigns.

Advertisement

Deep Blue Metallic orders are being transitioned to the new shades, according to customer reports and Tesla communications. In the U.S., Puerto Rico, and Mexico, the options are live now; Canada sees limited Frost Blue availability on the Model 3 Performance.

Tesla’s color strategy continues to evolve, borrowing from higher-end models to refresh mass-market EVs. Now that we bid farewell to the Model S and Model X, some of their colors might be available on the more widely available Model 3 and Model Y.

Continue Reading

Elon Musk

Tesla Semi’s official battery capacity leaked by California regulators

A California regulatory filing just confirmed the exact battery size inside each Tesla Semi variant.

Published

on

By

A regulatory filing published by the California Air Resources Board in April 2026 has put official numbers on what Tesla Semi owners and fleet buyers have long wanted confirmed: the exact battery capacities of both the Long Range and Standard Range Semi truck variants. CARB is California’s independent air quality regulator, and it certifies zero-emission powertrains before they can be sold or operated in the state. When a manufacturer submits a vehicle for certification, the resulting executive order becomes a public document, making it one of the most reliable sources for confirmed production specs on any EV.

The document lists two certified powertrain configurations. The Long Range Semi carries a usable battery capacity of 822 kWh, while the Standard Range version comes in at 548 kWh. Both use lithium-ion NCMA chemistry and share the same peak and steady-state motor output ratings of 800 kW and 525 kW respectively. Cross-referencing Tesla’s published efficiency figure of approximately 1.7 kWh per mile under full load, the 822 kWh pack supports roughly 480 miles of real-world range, which aligns closely with Tesla’s advertised 500-mile figure for the Long Range trim. The 548 kWh Standard Range pack works out to approximately 320 miles, again consistent with Tesla’s stated 325-mile target.

Here is a direct comparison of the two versions based on the CARB filing and published specs:

Tesla Semi Spec Long Range Standard Range
Battery Capacity 822 kWh 548 kWh
Battery Chemistry NCMA Li-Ion NCMA Li-Ion
Peak Motor Power 800 kW 525 kW
Estimated Range ~500 miles ~325 miles
Efficiency ~1.7 kWh/mile ~1.7 kWh/mile
Est. Price ~$290,000 ~$260,000
GVW Rating 82,000 lbs 82,000 lbs

The timing of this certification is not incidental. On April 29, 2026, Semi Programme Director Dan Priestley confirmed on X that high-volume production is now ramping at Tesla’s dedicated 1.7-million-square-foot facility in Sparks, Nevada. A key advantage of the Nevada location is vertical integration: the 4680 battery cells powering the Semi are manufactured in the same complex, eliminating the supply chain bottleneck that had delayed the program for years.

Advertisement

Tesla’s long-term goal is to reach a production capacity of 50,000 trucks annually at the Nevada factory, which would represent roughly 20 percent of the entire North American Class 8 market. With CARB certification now in hand and the production line running, the regulatory and manufacturing groundwork for that target is in place.

Continue Reading