Tesla had a wild 2018 — here's every bizarre thing that happened (TSLA)

elon musk

  • Tesla had a tumultuous 2018, full of both major accomplishments and challenges that threatened the automaker’s existence.
  • Elon Musk, Tesla’s mercurial CEO, attracted attention for his erratic behavior, which led to lawsuits from investors and investigations from the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ).
  • Tesla heads into 2019 with cause for optimism and concern as it seeks to maintain stability in its finances and vehicle production, while preparing to build a new factory and expand its product lineup. 

 

Tesla had a tumultuous 2018, full of both major accomplishments and challenges that threatened the automaker’s existence. A grueling production ramp for the Model 3 sedan led to production records during the second and third quarters, debt and cash flow concerns preceded a surprise profit, and a glowing safety rating for the Model 3 was tempered by quality and delivery issues.

Read more: I tried Tesla’s Navigate on Autopilot feature to see if it lives up to the hype — here’s the verdict

Elon Musk, Tesla’s mercurial CEO, attracted attention for his erratic behavior, which led to lawsuits from investors and investigations from the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ). While Musk’s ambition and candor on social media have endeared him to his fans, seemingly impulsive decisions this year showed the downside of his unconventional approach to being a CEO.

Tesla heads into 2019 with cause for optimism and concern as it seeks to maintain stability in its finances and vehicle production, while also preparing to build a new factory and expand its product lineup. 

These are the highlights of Tesla’s eventful year.

Have a Tesla news tip? Contact this reporter at mmatousek@businessinsider.com.

SEE ALSO: These were the 13 biggest car stories of 2018

Elon Musk sends a Tesla Roadster to Mars

SpaceX, Musk’s rocket company, launched in February its largest rocket, Falcon Heavy, into space with a 2008 Tesla Roadster as its payload.

The launch was designed to show that the company could transport cargo for future clients and eventually carry people and supplies to colonize Mars.

„Test flights of new rockets usually contain mass simulators in the form of concrete or steel blocks. That seemed extremely boring,“ Musk wrote in an Instagram post in December 2017. „Of course, anything boring is terrible, especially companies, so we decided to send something unusual, something that made us feel.“

Amazon account hacked to mine cryptocurrency

In February, Tesla’s Amazon Web Services account was hacked to mine cryptocurrency. The hack, which was brought to Tesla’s attention by the cybersecurity startup RedLock, also reportedly exposed some of Tesla’s proprietary data related to mapping, telemetry, and vehicle servicing.

According to Fortune, Tesla paid RedLock over $3,000 as part of its bug bounty program, which rewards people who find vulnerabilities in the company’s products or services that could be exploited by hackers.

„The impact seems to be limited to internally-used engineering test cars only, and our initial investigation found no indication that customer privacy or vehicle safety or security was compromised in any way,“ a Tesla representative told Business Insider.

A Model S recall

In March, Tesla issued the largest recall in its history. The recall involved power-steering systems in 123,000 Model S sedans. Tesla said five bolts responsible for holding the power-steering motor in place could corrode, break, or come loose, which could result in the loss of power steering.

But the company also said the problem was rare and most likely to happen in colder areas that use a specific kind of salt to lessen the amount of ice and snow on the road. According to Tesla, the problem was only relevant to Model S vehicles built before April 2016 and had affected just 0.02% of Model S vehicles at the time the recall was announced.

See the rest of the story at Business Insider
Source: Business insider

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