Tesla and Elon Musk are reportedly under a federal probe over perks and transactions between the company, the CEO, and other companies under Musk’s control.
Last month, it was reported that a federal investigation by the DOJ was launched around reports that Elon Musk might have misused funds from Tesla for a personal project.
More specifically, reports from Bloomberg and the Wall Street Journal suggested that Tesla had launched an internal investigation into Musk’s top lieutenant ordering glass through Tesla for a special project called “Project 42” that might have been a house for the CEO.
Musk partly denied the report, but only by claiming that there’s “no house” or anything planned for construction.
However, in his recent biography by Walter Isaacson, it was confirmed that Musk was looking to build a house in Austin in 2022 and even met with an architect.
Now a new report from the Wall Street Journal claims that the DOJ is expanding its probe into more transactions between Tesla and other companies controlled by Musk:
The U.S. Attorney’s Office for the Southern District of New York also has sought information about transactions between Tesla and other entities connected to the billionaire, people familiar with the investigation said. Prosecutors have referenced the involvement of a grand jury.
While none of the previous reports could directly link Project 42 to Musk, the new report claims that a corporation called Peninsula LLC has agreed to reimburse Tesla over expenses for the project and that this corporation is controlled by Jared Birchall, who is known to be Musk’s personal money manager.
Electrek’s Take
Honestly, this might be some much needed oversight to keep Musk in check about his dealings between Tesla, a public company, and his many other projects and companies.
I wished this would have been a concern for Tesla’s board rather than the federal government, but I’m not sure shareholders should trust them when it comes to reining in Musk.
I’ve been growing increasingly concerned about how Musk moves talent between companies over the years, and it has become quite clear that it could a problem with the release of the new biography.
The biography describes Musk poaching critical Tesla engineers for Twitter and discussing using Tesla data for his new AI startup.
Tesla is a public company, and it can be problematic if Musk feels like he can use or move resources from the company to other entities as he wants just because he is the CEO.
Also, I think it’s important to take Musk’s denial with a grain of salt. I’ve been covering him for almost a decade now, and if there’s one thing that I’ve come to realize it’s that while he might be committed to the truth, he is not above playing with semantics.
Like with his attempt to dismiss the latest WSJ story by asking, “Where is the house?” and saying that he “doesn’t plan to build a house” – that’s not a direct denial of the Project 42 report. He is just saying that the house was never built and he doesn’t plan to build it.
That very well might be true, but it doesn’t mean that there was no wrongdoing around the project either.
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Volvo Penta will debut its latest modular and scalable battery energy storage system (BESS) platform for the off-grid construction and mining industries at the bauma equipment show – here’s what you can expect.
Best-known for its marine engines and gensets, Volvo Penta is the power production arm of the Volvo Group, specializing in putting energy to work. Operating under the tagline, ‘Made to Move You’, Volvo Penta is headed to bauma 2025 with a plan to keep construction, port shipping, and mining operations moving productively and competitively throughout their transitions to battery and (in theory, at least) hydrogen power.
To that end, the company will show off a job site ready version of the scalable and modular BESS subsystem concept shown last year.
Volvo says its new, modular BESS subsystem will enable other OEMs and third party system integrators to seamlessly deploy electric power to meet the ever-exceeding energy needs in construction and mining.
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“Our modular and scalable battery-electric platform is designed to support the electrification ecosystem—combining high-performance drivelines with the crucial energy storage subsystems for efficient charging and operation in construction and mining,” says Hannes Norrgren, President of Volvo Penta Industrial. “We want to meaningfully collaborate with our customers on value-added customization that will enable them to stay productive, efficient, and future-ready.”
The Penta substation at bauma will be built around the company’s “Cube” battery pack, an energy-dense solution with a favorable C-rate designed to make it easy for BESS manufacturers to offer more compact job site solutions capable of charging and discharging energy with high levels of speed and efficiency, enabling both stationary and mobile BESS configurations that can change and grow to meet the evolving needs of a given asset fleet or project.
A Volvo Penta-developed DC/DC unit converts the voltage from the Cube battery packs (600 V) into lower voltage (24 V) for powering auxiliaries and portable offices.
Electrek’s Take
BESS concept packed with Penta Cube batteries; via Volvo.
Volvo Penta has always provided power. Historically that’s been from combustion, but the company is looking ahead, developing products that will bring energy to job sites, tractors, and more long after the last ICE engine shuts down.
Just days after Rivian announced that it would be making its iconic electric delivery vans available to anyone willing to pay for one, the company launched the new Rivian Upfit Program, offering a “one-stop shop” to help fleet managers put its EVs to work.
Launched in partnership with commercial vehicle heavyweights Ranger Design, Sortimo of North America, Bush Specialty Vehicles, Holman, LEGEND, and EV Sportline, the Rivian Upfit Program helps fleet buyers make the switch to electric by simplifying the ordering process and delivering an experience that more closely reflects the experience fleet managers get at dealerships.
Despite partnering with leading brands and launching into a well-establish market, however, the program’s web page seems largely aimed at people outside the space – even kicking off with an explanation of what upfitting is:
Upfitting is the process of customizing a vehicle in order to meet fleet, business, or individual consumer needs to tackle the job at hand. This work is done after the vehicle has been built and released from the factory, and can include everything from shelving modifications, flooring options, to sirens and flashers and much more.
The program was announced on LinkedIn with a number of photos indicating upfit options for Rivian’s R1T and R1S vehicles focused on lifeguard and roadside assistance duty, and Rivian’s van upfit with a HVAC/telecom style toolbox arrangement.
That same competitiveness has led to talented fleet managers at those franchise dealers putting in the effort to get to know the needs of the businesses and buyers in their regions, to understand what upfit options makes sense for their local markets, and – crucially – what to stock for quick turnaround when their customers need it.
Rivian is hoping its upfit partners will do a lot of that heavy lifting for them, but my two cents is that if building cars is hard, building relationships is harder, and Rivian isn’t going to make a good first impression by talking down to its customers. If you think differently, let me know how I got it wrong in the comments.
For 2025, the Ram ProMaster EV commercial van gets up to 180 miles range from its 110 kWh battery pack, new 12- and 13-foot cargo configurations to meet more fleets’ needs, and a starting price of “just” $56,495. All of which sounds … kind of familiar, right?
When Ram rolled out its ProMaster EV electric cargo van last year, the company promised a huge range of customizable features, 12- and 13- configurations, a “super high roof” variant, and more – even touting a heated windshield. Which is almost exactly what you’ll find hyped up in the latest Stellantis press release for the “All-new 2025 Ram ProMaster EV Cargo Van.”
So, if it’s basically the same van, what’s the story here?
Glad you asked – see, the 2024 announcement for the ProMaster EV made lots of promises, but anecdotal conversations revealed that the vast majority of ProMaster EVs that made it customers last year were the step van version, with its “pocket” side door and roll-up rear door.
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That makes sense, considering that’s how Stellantis’ prime customers for the Ram ProMaster EV, Merchants Fleet …
The Ram Truck brand has announced that Merchants Fleet will become a key commercial customer of the all-new Ram ProMaster electric van (EV) that debuts later this year. The agreement calls for the purchase of 12,500 Ram ProMaster EVs.
Stellantis, with input from Amazon, designed the vehicle with unique last mile delivery features and Amazon will deploy the vehicles to routes across the United States. Building on the current relationship and as part of the long-term agreement, Stellantis and Amazon will be putting thousands of BEV ProMasters on the road every year.
ProMaster EV’s unique factory step-van upfit; via Ram.
The story here, then, is that the conventional cargo variants (sliding van door, split-opening rear doors, etc.) are finally available for smaller fleets and van-lifers to order, production capacity apparently having caught up to demand. It’s that van, when ordered in a 12-foot cargo/low roof spec, that pushes that range estimate up to 180 miles. The high-roof version gets a claimed 164 miles of range.
“Our freedom of choice approach with powertrain extends to the Ram Professional lineup with an appropriate solution for last-mile delivery in the Ram ProMaster EV,” says Tim Kuniskis, Ram brand CEO. “With front-wheel drive and a low step-in height, the ProMaster is a solid player and continues to perform well in a wide variety of business sectors, such as the growing home delivery environment, construction services wholesale and IT services among others.”
For 2025, Stellantis has “repositioned” the ProMaster EV step van with a new, lower starting price to match its improved availability. The van can now be had for $69,995 plus $1,995 destination fee. That’s down significantly from the $79,990 starting price for 2024 – proving once again that old adage: good things come to those who wait.
For that money, you get the “All-new” Ram that’s so All-new, in fact, that Stellantis issued almost the exact same press photos they used at the 2024 launch. The order books for the 2025 ProMaster EV officially opened last week.
If the “All-new” 2025 model is so similar, the specs so close, the photos so indistinguishable from the 2024 model that it takes your humble author nearly a week to figure if there’s even a story here at all hardly matters for a $10,000 price cut.