Tesla stocks plummet the day after CEO Elon Musk was seen smoking cannabis on a podcast and two company executives resigned.
A total of 48 executives have reportedly left Tesla this year, and analysts have downgraded the company's stock.
- NBC News (Image)
- Two weeks after Elon Musk expressed his intentions of making Tesla, Inc. private, he and the company's board announce that the company will remain publicly listed.
- South Australia finalizes a deal with Tesla, spearheaded by tweets originating from CEO of Tesla Elon Musk, to install a battery system in the state. Tesla said in a statement that upon completion by December 2017, the system would be the largest lithium-ion battery storage project in the world, overtaking an 80 megawatt-hour power station at Mira Loma in California also built using Tesla batteries.
- Following a campaign led by Georgian politician Zurab Japaridze, the Constitutional Court of Georgia legalizes cannabis for recreational use. Georgia is the first former Soviet Republic to fully legalize the drug, with it also being decriminalized in Russia, Ukraine and Estonia.
- Tesla announces that it intends to cut 3000 jobs in an attempt to improve profitability. Many of those workers will be offered alternative jobs under the same employer.
- U.S.-based automobile manufacturer Tesla confirms that one of their Model X cars was placed into Autopilot mode moments before a fatal crash in California, United States. Tesla's Autopilot system is not intended to operate independently and as such the driver is meant to have their hands on the wheel at all times. The recorder of the system logged that the driver did not have their hands on the wheel at the time of the crash.