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Elon Musk Reveals the Tesla Model S Plaid

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Tesla Model S Plaid - Investors King

Tesla finally held the long-awaited, and once rescheduled, “delivery event” for its ultra-fast Model S Plaid at its factory in Fremont, California. The electric vehicle company will begin with 25 deliveries on Friday evening, expanding to several hundred cars per week and a thousand cars per week in the next quarter, CEO Elon Musk said at the event.

There were no huge surprises with the newest iteration of the Model S, which features a new battery pack design, an improved heat pump, carbon over-wrapped rotors on the motors and a new record for drag coefficient of 0.208, a figure that Musk emphasized as perhaps a poke at up-and-comer Lucid Motors. The Lucid Air, which is slated to go into production later this year, has a drag coefficient of 0.21.

While wielding a sledgehammer as prep for “breaking a few records,” Tesla Model S designer Franz von Holzhausen kicked off the event, introducing Musk himself, who drove a shiny black Model S around the test track, gliding right onto stage to the dulcet sounds of dubstep.

“This is nine years since we delivered the first model S, the first car produced here in Fremont, so almost a decade, and I think we’ve really taken it to a whole new level with Plaid,” said Musk to an audience of adoring fans. “Some of you may know that our product plan is stolen from Spaceballs, we’ve gone Plaid speed. So…why make this really fast car, that’s crazy fast and everything, and I think there is something that’s quite important to the future of sustainable energy, which is that we’ve got to show that an electric car is the best car, hands down. It’s gotta be clear, like, man, sustainable energy cars can be the fastest cars, can be the safest cars, can be the most kick ass cars in every way.”

The four-door electric sedan goes from 0 to 60 in 1.99 seconds, which Musk says breaks the two-second barrier that no production car has ever been able to break. It produces 1,020 horsepower, has a top speed of 200 miles per hour (with the proper tires) and can complete a quarter mile in 9.23 seconds, according to Musk and the company’s website. The battery can travel 390 miles on a single charge, but Musk added the car can go to 412 miles with the dual motor configuration (The Model S Plaid has a tri-motor set up). The improved charging speed gives drivers 187 miles of range in just 15 minutes.

The new Model S also has a new battery pack, but Musk didn’t elaborate past that detail. He spent considerable time describing the carbon-sleeved rotors for the motor, which Musk claims is a first for a production electric motor due to the difficulty of pulling it off. The end result is a motor that goes up to 20,000 RPM.

The new heat pump that powers the Plaid’s HVAC system has 30% better cold weather range and requires 50% less energy for cabin heating and freezing conditions, meaning little degradation in cold weather, said Musk.

elon musk tesla model s plaid

Image Credits: Screenshot/Tesla

The interior of the Model S also has a number of updates, some that have already been revealed, including a yoke steering wheel — which has raised eyebrows and has the attention of the National Highway Traffic Safety Administration — a panoramic main screen and ventilated front seats. The GPU is apparently at the level of a PlayStation 5. (TechCrunch noticed that someone was playing CD Projekt Red’s Cyberpunk 2077 in the vehicle at one point during the event).

The software of the car is designed to learn from the driver’s behavior, adapting to the driver’s needs so that if, say, you tend to back out of your driveway in a certain way, the car geocodes to that location and eventually does that action for you via the autopilot system.

“It’ll just keep minimizing the amount of input that you need to do until the car just read your mind,” said Musk.

The first deliveries of the vehicle, which starts at $129,990, come the same week Musk officially announced plans to cancel production of the Model S Plaid+, what was meant to be a faster version of the Plaid version of the Model S. Tesla stoped taking pre-orders for the vehicle on its website back in May, prompting speculation that the Plaid+ was off the table.

“Model S goes to Plaid speed this week,” Musk tweeted on Sunday. “Plaid+ is canceled. No need, as Plaid speed is just so good.”

Musk described driving it as akin to powering a spaceship in a tweet due to the car’s indescribable “limbic resonance,” whatever that means.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

Flutterwave Celebrates Inclusion in CNBC’s Top 250 Global Fintechs

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Flutterwave has been recognized as one of the Top 250 Fintech companies globally by CNBC and Statista.

Joining the ranks of industry giants like Ali Pay, Klarna, Piggyvest, and Mastercard, this accolade underscores Flutterwave’s impact on the financial technology sector.

This honor follows Flutterwave’s recent inclusion in Fast Company’s Most Innovative Companies list, highlighting the company’s pivotal role in transforming Africa’s payment landscape.

The recognition is a testament to Flutterwave’s dedication to innovation and excellence in providing seamless payment solutions across the continent.

Expressing gratitude, Flutterwave acknowledged its talented team, supportive board, reliable partners, and loyal customers for contributing to this success.

The company continues to drive progress in the fintech industry, reinforcing its commitment to enhancing financial accessibility and inclusion in Africa and beyond.

Flutterwave’s recognition on these prestigious lists marks a proud moment and a significant milestone in its journey, reflecting the company’s growing influence and leadership in the global fintech arena.

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Startups

Google Leads $250 Million Funding Round for Glance

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A logo is pictured at Google's European Engineering Center in Zurich

Google is leading a $250 million funding round for Glance, a mobile content provider.

This infusion of capital aims to expand Glance’s reach and solidify its market position amidst growing competition.

Glance, a subsidiary of InMobi Group, offers a unique service that delivers news, entertainment, and other content directly to users’ mobile screens without unlocking their devices.

With a user base exceeding 300 million across India, the US, Japan, and Indonesia, the startup has gained significant traction since its inception in 2019.

The funding round, expected to close in the coming weeks, marks a continued partnership between Google and Glance.

Google initially invested in the company in 2020, and this latest round will further enhance Glance’s capabilities to innovate and reach new audiences.

This investment reflects Google’s strategic interest in India, the world’s most populous nation, where it competes with tech giants like Microsoft, Meta, and Amazon.

With India’s rapidly growing middle class and increasing smartphone adoption, the market presents vast opportunities for digital expansion.

The support from Google comes on the heels of a previous $200 million investment by Mukesh Ambani, Asia’s wealthiest individual, which valued Glance at over $1 billion.

The startup’s largest stakeholder, InMobi, continues to thrive as a pioneer in mobile advertising, with Glance benefiting from its expertise and resources.

As Glance prepares for this new phase of growth, it stands poised to redefine how content is consumed on mobile devices worldwide.

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Technology

Cyber Threats Surge as Nigeria’s Digital Economy Expands

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cybercrime - Investors King

As Nigeria’s digital economy flourishes, it faces escalating cyber threats, prompting the Federal Government to issue 33 cyberattack advisories in the past year.

These warnings, issued by the Nigeria Computer and Emergency Response Team (ngCERT), highlight the growing vulnerability of the nation’s digital infrastructure.

Since July 2023, ngCERT has alerted Nigerians to new attack methods and vulnerabilities. With 22 advisories issued in 2024 alone, the surge in cyberattacks coincides with the accelerated digitization spurred by the COVID-19 pandemic.

Monthly internet usage in Nigeria soared from 125,149.86 terabytes in December 2019 to 753,388.77 terabytes in March 2024.

The National Information Technology Development Agency (NITDA) notes that increased digitalization has heightened cybersecurity risks, necessitating robust protective measures.

According to Check Point Research, Nigerian businesses face approximately 2,308 attacks weekly across all sectors.

The advisories reveal various cyber threats, including ransomware and banking trojans. A recent warning highlighted Grandoreiro, a malware targeting over 1,500 banks globally, affecting 41 banking applications in Nigeria alone.

These attacks aim to steal sensitive financial data, potentially causing significant financial losses.

Nigeria’s critical infrastructure is also under threat. In August, pro-Nigerien hackers attempted to disrupt MTN Nigeria’s network, although they were unsuccessful.

During the 2023 elections, the government recorded 12.99 million cyberattacks, underscoring the scale of the threat.

Cybercrime costs Nigeria about $500 million annually. This includes data damage, stolen money, lost productivity, and post-attack disruptions.

The Federal Bureau of Investigation ranked Nigeria as the 16th country worst affected by cybercrime in 2020.

Experts emphasize the need for stronger cybersecurity measures. Adesina Sodiya, a professor of Computer Science and Information Security, warns that cyberattacks will continue to grow in sophistication.

He stresses the importance of building a cybersecurity curriculum and involving experts in creating effective strategies.

In response, NITDA plans to reduce cyberattacks by 40% by 2027. “As we digitize, we must build with security in mind,” said Kashifu Inuwa, director-general of NITDA.

The agency aims to implement comprehensive strategies to protect Nigeria’s burgeoning digital economy.

As Nigeria’s digital economy expands, it must address the growing cyber threats that accompany this progress. By enhancing cybersecurity measures and fostering collaboration among stakeholders, Nigeria can safeguard its digital future.

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