Tesla to raise billions in capital: To speed up production of the Model 3, the California EV maker is looking to sell stock options worth 1.4bn dollars and CEO Elon Musk will sell 2.8m of his own options to raise another 600m dollars. That money will be used to “cover tax obligations” associated with selling stock options.
forbes.com, electrek.co, insideevs.com
Model 3 update: Meanwhile, Tesla corrected the number of Model 3 reservations, saying that there are still 373,000 potential buyers. About 8,000 reservations have already been cancelled by customers and Tesla cancelled another 4,200 reservations that it believed to be duplicates from speculators.
Hyundai’s European schedule: The Korean carmaker says it will launch its Ioniq in Europe in the second half of 2016. It will first offer the all-electric version, followed by the two hybrid variants with and without a plug.
New Genesis models by 2020: A roadmap for new Genesis models has been leaked, for which plug-in hybrid technology will play a central role (we reported). The G90 and G80 will thus be followed a sedan (G70), as well as two unnamed SUVs and one sports coupé by the end of the decade.
Hybrid patent battle: The U.S. trade panel will look into whether the Volkswagen AG has infringed patents owned by Baltimore-based Paice LLC. The latter wants to stop all sales of hybrid vehicles by VW, Audi and Porsche in the U.S. (we reported).
Italian engineering goes on sale: Italian electric motorcycle manufacturer Energica will open its first flagship store in San Francisco this summer. It is not just its first store in the U.S., but worldwide, and highlights the companies intend to expand globally.
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