Elon Musk seems a lot less sure about how Tesla could benefit from Twitter/X super app
Elon Musk seems a lot less sure about how Tesla could benefit from Twitter or the new X company the social media platform is now operating under – something he promised would happen to Tesla shareholders last year.
Financially speaking, Tesla shareholders are those who suffered the most from Elon Musk’s Twitter acquisition.
The CEO had to sell tens of billions of dollars’ worth of Tesla stock to acquire the social media platform, which heavily contributed to a crash in Tesla’s stock. Some also suggested that Musk’s behavior on the platform has been negatively affecting his and Tesla’s credibility with buyers and investors.
Amid the crash late last year, Musk claimed that he would “make sure Tesla shareholders benefit from Twitter long-term,” but he didn’t explain how.
During Tesla’s earnings call following the release of its Q1 2023 financial results, Musk was asked if he had more clarity about how Twitter or a new X.com/super app would potentially help Tesla’s business model and shareholders.
In his response, the CEO seemed a lot less sure about the benefits, seemingly having forgotten his promise made to shareholders last year:
Well, I don’t know. I guess it could make it potentially easier to buy cars? Somewhat off-topic here, because I think there’s some benefit. I think probably there’s some benefit, yes.
This didn’t do anything to squash concerns about Musk losing interest in Tesla since the Twitter acquisition, especially following reports that he is building a new AI company to compete with OpenAI.
This move has been concerning to Tesla investors since he initially severed ties with OpenAI due to a conflict of interest with Tesla’s own AI effort and recruitment.
Since then, Tesla has doubled down its efforts to build AI products – primarily to power its self-driving program, but also through its Tesla Bot humanoid robot.
Musk actually went so far as to claim that Tesla has the strongest AI team in the world, saying he believes the company would “play a role in developing artificial general intelligence (AGI).”
Yet he is now reportedly starting a company separate from Tesla to develop AI products.
Electrek’s Take
I think this should be the top concern for Tesla investors or at least the top problem within the company’s control. Macroeconomics and interest rates are not really within Tesla’s control, but its CEO is to a degree, and having a CEO who is focused on multiple major ventures unrelated to Tesla is a genuine concern.
It was one thing when it was just SpaceX and a little time spent on The Boring Company, but now with Twitter and a new AI company, it’s starting to be a lot, especially when he is in charge of arguably the world’s most critical company when it comes to transitioning the world to a sustainable energy economy.
I think Musk is too used to being able to do whatever he wants, and it is starting to affect some of his decisions negatively. It was helpful when people were telling him that his ambitious goals were impossible, but now it is beginning to be a problem.
How was the question “somewhat off-topic” when he was directly asked what plans he has for Twitter that will positively affect Tesla shareholders – something he said would happen?
I think it’s a fair question, and he clearly doesn’t have the answer to it, making his promise a lot less credible.
Ultimately, that’s a big part of the problem. He is losing credibility. The man has accomplished some incredible things, things that many thought would never happen or not happen for years to come. That has given him a ton of credibility with a lot of people, especially Tesla shareholders.
I know many people still think he is just a charlatan, but I personally believe the credibility he gained from his part in building Tesla and SpaceX is warranted. But I also see how he is currently losing some of that credibility.
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Mercedes-Benz introduced an all-in-one mobile EV charging machine, “ELF,” that promises to unlock charging speeds as quick as filling up at the pump.
Mercedes-Benz unveils the ELF mobile EV charging van
It may look like an electric van, but Mercedes-Benz claims ELF is much more than just any ordinary vehicle. It’s “a symbol of a bold new era in charging,” the luxury brand said on Thursday.
The nickname comes from the German term Experimental-Lade-Fahrzeug (ELF), which translates to Experimental Charging Vehicle.
The Mercedes-Benz ELF is an all-in-one mobile EV powerhouse that combines ultra-fast, bidirectional, inductive, and conductive charging. It’s based on the Mercedes V-Class people carrier and is equipped with five unique charging ports.
It will act as a rolling test lab, promising to unlock faster, more convenient, and sustainable electric vehicle charging.
The ELF features two fast charging systems: A standard Combined Charging System (CCS) and a heavy-duty Megawatt Charging System (MCS).
Mercedes is “testing the limits of CCS,” claiming the ELF can achieve a charging capacity of up to 900 kW, or enough to add 100 kWh in about 10 minutes. The MCS system, on the other hand, was initially developed for heavy-duty electric trucks, which Mercedes says unlocks charging capacities in the megawatt range.
The company is already using the all-in-one mobile EV charging rig to improve charging on its upcoming vehicles.
For example, the Concept AMG GT XX hit a peak charging power of 1,041 kW during megawatt charging after its record-breaking run in Nardò in August.
Mercedes collaborated with Alpitronic to develop a high-performance EV charging station capable of delivering up to 1,000 amps through a modified CCS commercial truck charger. The company is now using what it has learned to develop a new generation of ultra-fast chargers for use at Mercedes-Benz parks.
According to Mercedes, the new chargers will deliver speeds “that differ only minimally from the conventional refuelling process.”
The ELF is not only capable of absorbing electricity, but Mercedes-Benz is using it to its full potential with bidirectional charging capabilities.
Capable of both AC and DC bidirectional charging, the ELF can feed energy into your home (Vehicle-to-Home/ V2H), the grid (Vehicle-to-Grid/ V2G), or electric devices (Vehicle-to-Load/ V2L).
Mercedes said a typical vehicle battery with a capacity of 70-100 kWh can power an average single-family home for two to four days.
The new electric CLA and GLC with EQ Technology are the first Mercedes vehicles that offer bidirectional charging capabilities. In 2026, the automaker will launch its first services for bidirectional charging in Germany, France, and the UK. Other markets are set to follow shortly after.
In combination with intelligent energy management, Mercedes said electricity costs can be significantly reduced. Depending on energy use, homeowners can save about 500 euros ($580) per year.
Mercedes-Benz is also using the ELF to test other charging methods, including cable-free induction and automated conductive charging.
The learnings from the ELF will be key to unlocking faster, more convenient, and sustainable charging for upcoming Mercedes-Benz EV models.
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Shares of U.S. rare earth and critical mineral miners surged Thursday after China tightened restrictions on exports, fuelling market speculation that the Trump administration will move more aggressively to invest in building out a domestic supply chain.
Ramaco Resources soared 12%, Energy Fuels surged nearly 8%, USA Rare Earth jumped more than 7%, and MP Materials rallied more than 6%. Lithium Americas popped more than 4% and Trilogy Metals rose more than 6%.
Beijing is now requiring foreign entities to obtain a license to export products that contain more than 0.1% of domestically sourced rare earths, according to China’s Ministry of Commerce. Companies will also need export licenses if they use China’s extraction, refining or magnet recycling technology.
“The White House and relevant agencies are closely assessing any impact from the new rules, which were announced without any notice and imposed in an apparent effort to exert control over the entire world’s technology supply chains,” a White House official told CNBC.
China imposed the restrictions ahead of an expected meeting between President Xi Jinping and President Donald Trump on the sidelines of the Asia-Pacific Economic Cooperation summit in Seoul, South Korea later this month. Rare earths have been a major point of contention in trade talks between Beijing and Washington.
‘Game of chicken’
The White House and the U.S. critical mineral industry have accused China of manipulating the market to drive foreign competition out of business. Rare earths are a subset of critical minerals that are crucial inputs for U.S. weapons platforms, robotics, electric vehicles and electronics among other applications.
The Trump administration has taken equity stakes in MP Materials, Lithium Americas and Trilogy Metals this year as it seeks to stand up a domestic supply chain against China.
USA Rare Earth and Energy Fuels have not struck deals with the White House, but their CEOs told CNBC that they are in close contact with the Trump administration.
“It’s going to take a lot of players to build out this marketplace,” USA Rare Earth CEO Barbara Humpton told CNBC on Oct. 2.
China’s export restrictions “help to ensure a strong position for Xi to sit down with Trump” on the sidlines of the summit in South Korea, Evercore ISI analyst Neo Wang told clients in a Thursday note.
“Although both Beijing and Washington learnt the lesson the hard way in their last exchange of export controls back in [April] and May, China’s stronger pain endurance rooted in its political system adds to the credibility of its threats in a game of chicken,” Wang wrote.
Move over, e-bikes – there’s a new way to get a power boost for cruising around town, and this one straps right to your legs. The Hypershell X Ultra is a high-tech wearable exoskeleton that delivers up to 1,000 watts of electric assist to your stride, giving “powered walking” the same kind of jolt that e-bikes gave to cycling.
The company behind it, Shanghai-based Hypershell, says the X Ultra is its most advanced performance exoskeleton yet, designed for hikers, runners, climbers, and even skiers who want to go farther and faster without wearing out their legs.
The new model uses a 1,000W “M-One Ultra” motor, around 25% more powerful than before, along with upgraded thermal management and improved energy efficiency. To put that in perspective, the US limits street-legal e-bikes to 750 watts of power, while the EU caps them at just 250 watts. That means this wearable device technically delivers more power to your legs than most legal e-bikes deliver to their wheels.
According to Hypershell, the X Ultra can reduce muscle load on the hips by up to 63%, lower heart rate by as much as 42% while cycling, and even cut oxygen consumption by nearly 40%. The system intelligently adapts to your movement using AI-powered gait mapping and offers 12 activity modes, including new ones for running, snow, and sand, that automatically adjust power delivery depending on terrain and intensity.
Despite all the electronics, it’s surprisingly lightweight. The X Ultra uses titanium alloy and carbon fiber construction to keep the system at just 1.8 kg (4 lb), plus a 410 g (0.9 lb) battery pack. That 72Wh battery claims to deliver up to 65 km (40 miles) of assist when cycling or 30 km (18 miles) when walking, and the system can even regenerate energy on downhills for up to 10% extra range.
With a top speed of 25 km/h (15.5 mph), the $1,999 X Ultra is pricey, but could early adopters help it still kick off a new category of electric mobility where people are the vehicle? Let’s hear your thoughts in the comments section below.
via: Newatlas
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