Is Elon Musk a crook? ... Tesla is looking dodgier every day in regard to its reputation for honesty

Squire

Active member
Tesla has to pay car owners $16,000 each for reducing charging rates and possibly battery capacity on Tesla cars.

This is on top of a class action against Tesla by Solar system owners who have been charged up to 2 x original offer price for solar systems with the price increase being notified after installation.

The plaintiff leading the complaint said he had the price of his Tesla Solar Roof jacked from $71,660 to $146,460.

Elon Musk also played boost and dump with Bitcoin and Dogecoin. He should have been prosecuted by the SEC for that.

https://electrek.co/2021/05/24/tesl...rging-speed-asked-pay-16000-thousands-owners/

Tesla is found guilty of throttling charging speed, asked to pay $16,000 to thousands of owners
Fred Lambert
- May. 24th 2021 6:17 am ET

In court in Norway, Tesla was found guilty of throttling charging speed and battery capacity through a software update.
Unless it appeals, Tesla is going to have to pay $16,000 to each of the thousands of owners affected in the country. The fine could be even more significant as other similar legal efforts are on the way in other countries.

Back in 2019, Electrek reported on several reports from Tesla owners about seeing significant drops in range from 12 to 30 miles following a software update.
Only Model S and Model X vehicles with 85 kWh battery packs, which were discontinued in 2016, seem to be affected at that point.
For most owners, the range drop happened after updating to Tesla’s 2019.16.1 and .2 software updates.
Tesla owner David Rasmussen was among the ones affected, and he got one of the most severe drops we have seen.
At the time, he told Electrek:
“My 2014 Model S 85 was getting Rated Range of 247 miles until May 13. Now after the next update, it continued to drop to now 217 miles. This is an 11% drop in 5 weeks.”
Rasmussen has been plotting the battery capacity degradation of his Model S over the last 100,000 miles or so, and the drop is quite obvious:


On top of the range loss, the DC fast-charging rate at Supercharger stations has also been reduced. Affected owners are seeing much slower charging sessions.
When Electrek reported on the issue, Tesla told us that the goal of the update is to “protect the battery and improve battery longevity,” and it resulted in a range loss for only “a small percentage of owners.”
This created a lot of confusion among the owners affected by the update who wanted more details about the sudden need to “protect” the battery pack.
It led to a series of lawsuits in different markets for Tesla to compensate the affected owners.
One of those lawsuits was filed in Norway, and the court has now delivered its judgement – finding that Tesla indeed throttled the charging speed with the update.
According to Norway’s Nettavisen, Tesla didn’t respond to the lawsuit and the 30 owners behind the case were automatically awarded 136,000 kroner (~$16,000 USD) each in compensation unless Tesla appeals to the case, which it has a few weeks to do.
There could be over 10,000 Tesla owners affected by the update in Norway alone, which could make the fine quite pricey for the automaker, but more importantly, it could also set the tone for several other similar lawsuits, including one in the US.
 

Squire

Active member
So older batteries charge a bit slower?
You missed the point. Tesla gave no reason for the reduction of charge rate and they have to pay all Tesla car owners affected $16,000.

Too many people are willing to forgive Elon Musk for alll his illegal acts like pump and dump with Bitcoin.
 

pinkeye

Wonder woman
The thing about Elon Musk is he is a major catalyst... one we really needed..

He challenges us across a range of current issues to do better, and puts his rep and money into the game.

Good on him, I say.
 

Squire

Active member
Musk is making manned return flights to Mars possible.

https://nautil.us/issue/100/outsiders/the-profound-potential-of-elon-musks-new-rocket

Seems to be a bit more than a crook. If he pumped and dumped Bitoin that is what it was invented for. Is Bit¢oin trading regulated by the SEC?
Pumping and dumping is an immoral act. He uses his reputation to announce he has purchased Bitcoin and after the price rises based on his reputation he sells without saying anything.

The last person in Australia to use this practice was Ralph Sarich whose orbital engine proved to be a dud. He made his wealth by pumping and dumping Orbital Engine Company shares many times over.
 

Squire

Active member
Electric cars existed before Musk's venture.

Tesla made more money from speculating on Bitcoin than it did manufacturing cars.

Musk has created a potential nightmare for himself by talking up Tesla shares to a PE ratio of ~9x DJI Auto industry PE ratio.

Tesla PE ratio is 129.48 which is ridiculous.

"Tesla has a trailing-twelve-months P/E of 129.48X compared to the Automotive - Domestic industry's P/E of 15.63X. Price to Earnings Ratio or P/E is price / earnings. It is the most commonly used metric for determining a company's value relative to its earnings."
 

pinkeye

Wonder woman
.. and I 'd like to add, Economic Value ?? .. I have no interest whatsoever.

It was a conscious decision.. to despise economists ... where every single thing possible has been assigned a ' $ value'.
Fuck that. Life is NOT quantifiable into increments of value, whatever 'they' say.

Making money has never been a major goal for me,( surprise surprise.. I must not have THAT gene) :roll but new ideas and forward thinking.. ??

Love it.
 
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