Tesla engineers showcase ventilator prototype on YouTube

In a video posted on Tesla’s YouTube channel, Tesla’s engineers have showcased a prototype for a ventilator. Tesla is gearing to produce thousands of ventilators to help hospitals around the country who have been overwhelmed by the Wuhan coronavirus outbreak. According to one of the engineers, the design relives heavily on Tesla car parts. This…

SpaceX bans Zoom video conferencing app citing significant security threats

SpaceX, Elon Musk’s rocket company, has banned its employees from using Zoom, a video conferencing app, following “significant privacy and security concerns”, according to an internal memo. The development comes days after U.S. law enforcement agencies warned users about security concerns regarding the popular app. With many Americans quarrantined in their homes because of the…

SpaceX could be valued at $36 billion in latest funding round

According to sources familiar with financing of Elon Musk’s SpaceX, the company is looking to raise around $250 million, which could see its valuation touch $36 billion, reported CNBC. According to CNBC’s report, SpaceX plans on raising the amount at a price of $220 per share. The funding round is expected to close after the…

Panasonic’s Q1 profits at Tesla’s Gigafactory boost investor confidence in EV market

On Tuesday, following Panasonic Corp’s first quarter report, shares of Asian companies in Tesla Inc’s battery supply chain surged. Panasonic’s battery venture with Tesla has boosted investor confidence in the U.S. electric vehicle (EV) maker. Panasonic’s first quarterly profit from its $1.6 billion investment in Tesla’s Gigafactory is also another validation of Tesla founder Elon…