Musk tweets Tesla to end customer referral plan because of costs

File photo showing Elon Musk speaks at an event to announce the name of the person who would be the first private passenger on a trip around the moon, in Hawthorne, Calif. (AP)
Updated 17 January 2019
0

Musk tweets Tesla to end customer referral plan because of costs

LONDON: Tesla Inc’s customer referral incentive plan will end on February 1, the electric carmaker’s Chief Executive Officer Elon Musk tweeted on Thursday, citing costs.

The billionaire in the past few months has been pushing for cost-cutting initiatives to boost the company’s profitability.

Introduced in 2015, personal referral codes gave new buyers six months of free supercharging and prizes for existing owners such as launching personal photos into deep space or invites to a Tesla event.
Tesla operates its own stores but does not use franchised dealers or traditional advertising and marketing.


Saudi Arabia and Spain’s Navantia plan combat management systems venture

Updated 6 min 35 sec ago
0

Saudi Arabia and Spain’s Navantia plan combat management systems venture

  • The SANNI venture will integrate and adapt Navantia’s combat management systems for Saudi navy corvette ships

ABU DHABI: State-owned Saudi Arabian Military Industries (SAMI) signed an agreement on Monday with Spanish state-held shipbuilder Navantia to set up a joint venture to provide combat systems, the new partnership’s chief executive said on Monday.
The SANNI venture, the name of which stands for SAMI Navantia Naval Industries, will integrate and adapt Navantia’s combat management systems for Saudi navy corvette ships, said Antonio Barberan at the IDEX military exhibition in Abu Dhabi.
SANNI is also in talks with other potential customers in the Middle East, he said.
SAMI owns 51 percent of SANNI, with Navantia holding the remaining 49 percent.
In November SAMI and Navantia signed an agreement to jointly manufacture five corvettes for the Saudi navy.