Category: Tesla

By on September 1, 2015

teaser@2x

Prospective buyers of Tesla’s coming Model X SUV can go online Tuesday and pick out their color and options for their cars, which should be arriving at the end of September, Automotive News is reporting.

The online configurator popped up Monday night for potential buyers and forum users started posting pictures of their cars online. The pictures are the first from the automaker before its official reveal.

The interior pictures detail seating for seven adults and the Model X’s falcon doors that will reportedly sport sensors that keep passengers from getting out hitting the doors on low garages.

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By on August 31, 2015

2012 Tesla Model S

Wall Street Journal columnist Holman W. Jenkins (great name) slammed Consumer Reports for its glowing review and better-than-perfect score for the Tesla Model S P85D, in part, because the $127,000 car still qualifies for a government tax break.

“Prostitute is not too strong a word,” he wrote. “… (Consumer Reports) is shilling not only for the car but the government policies that subsidize it.”

Jenkins takes aim at the state and federal tax incentives still available for the vehicle — which are going away in many places — and at the magazine for hyping its review so heavily, and subsequently giving it away for free on its subscription-based website. Read More >

By on August 27, 2015

Tesla P85D Backside

Consumer Reports says that Tesla’s Model S P85D initially scored 103 points out of a possible 100, which initially “broke” their rating system.

Consumer Reports adjusted the overall score to 100, and said that the Model S P85D wasn’t perfect, but that it was very good:

To be clear, the Tesla’s 100 score doesn’t make the P85D a perfect car—even at $127,820. It has imperfections. The interior materials aren’t as opulent as other high-ticket automobiles, and its ride is firmer and louder than our base Model S.

What’s more, a lengthy road trip in an electric car with a 200-plus mile range can be a logistical hurdle if a quick-charging station isn’t along your route.

It’s also important to note that our Rating doesn’t include the Tesla’s reliability. The Model S has average reliability, according to our owner-survey responses. Read More >

By on August 20, 2015

Tesla Model S Center Stage

Tesla’s second stock offering netted the automaker $738 million in cash for its Gigafactory, Model 3 development, and dealer and service upgrades, Bloomberg is reporting.

Banks exercised their options to buy more stock than the initial $500 million estimate, with underwriters Morgan Stanley and Goldman Sachs buying more than 2 million of the available 3.1 million shares. Tesla CEO Elon Musk said he would be interested in buying $20 million worth of shares in the offering.

(Before the stock offering, the banking arms of Morgan Stanley and Goldman Sachs loaned Musk a combined $475 million, to which Musk pays market rate and is separate from their investment divisions, according to the offering.)

Shares of Tesla were down more than 3 percent in Thursday trading to $245. Read More >

By on August 18, 2015

2012 Tesla Model S

Tesla’s ride-sharing business could be worth hundreds of millions to the company in the future, an analyst for Morgan Stanley said Monday.

Adam Jonas increased his price target for Tesla from $280 to $465 — but said the stock could go even higher to $611 — based on his forecast that Tesla could introduce an autonomous ride-sharing service by as early as 2018, Bloomberg reported.

It’s at least the third time that Jonas has publicly pumped Tesla’s stock.

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By on August 17, 2015

flyer1Following a similar effort last month at Tesla’s headquarters, Carpenters’ Local 713 of Hayward, CA, set up a protest on Friday outside  the EV maker’s showroom in nearby San Jose, saying that the automaker’s policies “hurts workers, hurts families, hurts community.”

The protest was not without a bit of theater, including a giant papier-mâché puppet of death. Fliers were handed out saying “Shame on Them” and calling on the company to require “General Contractors and all their sub-contractors pay the Carpenter Area Standard Wages and Benefits on all jobs all the time”.

One assumes this labor dispute has to do with construction that Tesla is doing in California and not about the Gigafactory for making batteries that Tesla is building in Nevada, unless Local 713 is taking up the cause of their union brothers and sisters in the Silver State. The UAW has so far unsuccessfully attempted to organize Tesla’s assembly plant in Fremont, CA, formerly the UAW facility operated by GM and Toyota known as NUMMI. Read More >

By on August 13, 2015

tesladeal

Tesla filed Thursday to sell nearly $500 million in shares of its company to raise capital and cover investments the electric carmaker plans to make in the future.

According to the filing with the U.S. Securities and Exchange Commission, the proceeds will go toward the company’s planned investments in the Model 3, Supercharger network and its Gigafactory battery plant in Nevada.

By the book, the stock sale is a short-term pain for long-term gain. Exposing Tesla further to the market carries certain risk, especially considering Tesla’s price growth and relative upside-down balance sheet, but if historical stock prices are any indication, it’ll be a cash cow. Elon Musk asking to buy $20 million in his own stock has pumped up the prices too beyond any distillation worries.

But don’t be mistaken: the second stock sale isn’t really about the cars.

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By on August 6, 2015

2013-Tesla-Model-S-Rear

Two men say they’ve managed to shut off a Tesla Model S at low speeds, proving that no car is actually safe on the streets anymore and we should all go back to driving Chevrolet Vegas.

The hack, which was reported by the Financial Times and detailed exhaustively by Wired, requires physical access to the car’s infotainment system to exploit the vulnerability. The car can then be remotely disabled.

Similar to hackers who recently said they could start and stop OnStar-enabled vehicles, the two men who broke into Tesla’s software said they presented their findings to the automaker and Tesla released a patch for its cars Thursday. Last month, a vulnerability in Fiat Chrysler Automobiles’ Uconnect system forced the automaker to recall 1.4 million cars.

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By on July 31, 2015

Tesla Model S Center Stage

Yesterday, we reported that in a sales call, Tesla Motors CEO Elon Musk announced a referral program that could, possibly, maybe net one free Model X for someone who referred 10 new buyers.

The qualifications for getting the free car: Refer 10 buyers by Oct. 31 and be the first in your “region” to do so.

Turns out “region” doesn’t mean what we think it does.

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By on July 30, 2015

tesladeal

Tesla Motors CEO Elon Musk told press Wednesday that people who refer 10 people to buy the company’s new Model X would get one for free, Mashable is reporting (via Car and Driver).

The caveats: You need to be the first in your region to refer 10 people (we have no idea on what “regions” mean, we asked) and you’d need to do it by Oct. 31.

Despite how you feel about Tesla, the company is proving that an automaker can be run like a tech startup and not a car company.

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