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Industry

Musk says Tesla to open-source Model S and X; doubts raised on scope after Roadster precedent

Tesla CEO Elon Musk said the company would open-source the Model S and Model X, but questions are being raised over how much will actually be released, citing the earlier disclosure of the original Roadster. Only a small set of files and documents was published, with key design and firmware materials omitted. Licensing terms also drew criticism for lacking standard open-source permissions. Industry watchers are focused on whether a similar approach will be repeated for Model S and X.

Mobility

Tesla finalises $2 billion AI hardware acquisition, keeps target undisclosed

Tesla has completed a previously undisclosed acquisition of an AI hardware company for $1.95 billion, largely paid in common stock and stock-based compensation. Only $222 million was recognised as acquired intangible assets, while $1.73 billion was set as contingent consideration linked to employee retention and performance milestones. Tesla did not disclose the target’s name or details. It said it would recognise costs for the contingent amount only if achievement becomes probable.

Mobility

Ford, Geely to set up European production joint venture, target first mass-produced vehicles in 2028

Ford will partner with China’s Geely to jointly produce electric and plug-in hybrid vehicles in Europe, with plans to set up a new joint venture at a Valencia, Spain, plant. The companies are reviewing a system capable of producing about 500,000 vehicles a year by using idle capacity. Subject to regulatory approval, Ford would hold 66 percent and Geely 34 percent. Production preparations start in the first half of 2027, with first vehicles due in 2028.