After posting a profitable fall quarter, Tesla returned to spending more than it made. However, its fourth quarter losses, announced on Wednesday, were substantially less than originally assumed by analysts. The electric carmaker’s stock price continued to climb during the final three months of 2016, despite losing $448 million from its operations.
Tesla has been throwing a lot of money at projects and acquisitions. It recently purchased SolarCity and Grohmann Engineering, so going into the red was to be expected. However, the dark cloud looming in the distance isn’t related to capital — it’s about production. (Read More…)
Tesla Motors CEO Elon Musk knows a unionized workforce would add another variable to his lofty, carefully crafted production plans, and an unpredictable one at that: labor strife.
Until now, the electric automaker’s top boss has fended off the possibility in a progressive-sounding way, but a simmering unionization movement, which reared its head this week, shows no signs of abating. Since the appearance of a scathing blog post written by a Tesla assembly plant worker, Musk has found himself on the defensive. A paid union agitator, Musk claimed, wrote the post to rile employees. Then the UAW jumped into the fray.
Now, it’s one big battle. Musk likely wishes a recently introduced bill to amend the National Labor Relations Act was on his side. (Read More…)
Some employees at Tesla Inc.’s Fremont, California factory have been moving ahead with efforts to unionize. Fronting that campaign is Jose Moran, who claims to have worked at the plant for the last four years. He and other disgruntled Tesla employees have reached out to the United Automobile Workers, claiming they work long hours for low pay under unsafe conditions as the company pursues aggressive production deadlines.
While Tesla’s CEO has responded with his own claim that Moran was paid by the UAW to join his company and proselytize for a union, the organization promptly refuted that suggestion by accusing Tesla of spreading dreaded “fake news.” (Read More…)
Tesla is planning to halt vehicle production for one week in February to prepare for Model 3 pre-production, which the company says will begin February 20.
According to Reuters, the short-term shutdown of its Fremont, California assembly plant will give Tesla time to add capacity to its paint shop as it plans for full-scale production of the Model 3.
It appears apprehensions over the driving range of electric vehicles will be sticking around for a few more years.
Tesla initially said its highly anticipated Model 3 would posses a 215 mile per charge capacity in its base trim, encouraging rumors that the BEV would offer optional power packages and extended range. However, Big Daddy Musk tweeted yesterday the Model 3 is incapable of housing the larger batteries found on the Model X and S.
Tesla’s CEO also said the current 100 kWh battery will be as large as the company plans to go on its present passenger vehicles — but did mention larger units would need to be installed on the company’s semi-trailer-trucks and, again, referenced the possibility of an electric pickup truck. (Read More…)
Tech-obsessed and financially stable Americans have an almost fanatical devotion to Tesla’s Model S. The model was deemed “Most Loved” by the Consumer Love Index two years in a row and the Tesla brand currently sits atop Consumer Report’s Owner Satisfaction Rankings.
One place it hasn’t received top marks, however, is in the Insurance Institute for Highway Safety’s recent evaluation of electrified vehicles. The Model S failed to earn the coveted Top Safety Pick+ designation, losing out to the Chevrolet Volt and Toyota Prius.
During the trials, the renowned Tesla only managed an “acceptable” rating in the challenging small overlap test, which simulates crashing into an overpass support beam or telephone pole. (Read More…)
In the world of corporate automotive name changes, this one isn’t on the same level as, say, anything involving Chrysler over the past 10 years.
Tesla Motors, builder and purveyor of tech-laden ecomobiles, isn’t the same fledgling company it was when the Tesla Roadster was still a hazy promise a few could conceive of an automaker offering home energy products on the side.
Now that its business umbrella covers both vehicles and the offerings of recently acquired SolarCity, the company needs to change things up. Well, just the name, really. (Read More…)
The former director of Tesla’s Autopilot program has choice words for his former employer.
Sterling Anderson is being sued by Tesla for stealing confidential information, which he allegedly put to use at a new autonomous vehicle start-up. According to Bloomberg, the electric automaker isn’t happy about his attempts to hire away Tesla employees, either.
In his response to the suit, Anderson doesn’t have very nice things to say about Tesla. (Read More…)
The National Highway Traffic Safety Administration has closed the book on a six-month investigation into the death of a Tesla owner — and enthusiast — who died in a car piloted by the company’s semi-autonomous Autopilot system. What did the federal investigation uncover? Not enough to warrant a recall or further probing into the technology.
In fact, the NHTSA’s report clears Tesla’s Autopilot system of any responsibility in the incident. (Read More…)
Tesla pricing is about as predictable as the winning lottery numbers. This year it added numerous surprise fees onto its supercharging network and rearranged the pricing structure for its Model S sedan more times than I can remember. Most recently, the company increased the price of its base Model S 60 from $66,000 to $68,000 with an $8,500 software update that unlocks the battery’s full potential — since the 60 is just a 75 that has been digitally neutered and rebadged.
In some instances, almost 30 percent of the value of the vehicle can be unlocked through in-car purchases. There are all manner of software-upgradable items but keeping up with their pricing is nearly impossible, especially when Tesla doesn’t actively announce those changes. (Read More…)
Earlier today, one of the commenters on Bark’s article reiterated the oft-discredited claim that the Tesla P-whatever-D in “Ludicrous Mode” is the quickest production vehicle. Listen — I think the Tesla is a great car, and I accept that there is probably some highly-specific situation in which it’s the quickest production sedan.
But quickest production vehicle? No fuggin’ way. It would be the fifth-quickest vehicle in my garage, if I owned one…. and I don’t have a particularly quick set of vehicles.
After lulling everyone into a false sense of security, Tesla Motors recently announced that it will begin billing new customers for making use of its Supercharging stations. The promise of free charging was replaced with the promise that the company wouldn’t profit from the powering fee — instead, it would use the money to expand its growing network of stations.
While the pricing structure is about as rigid as boiled spaghetti, the EV manufacturer does appear to be respecting the nature of the new deal. Announced Thursday, all Tesla vehicles ordered after January 15th will receive around 1,000 miles worth of charging credits, updated annually, before becoming subject to the company’s new charging monetization.
Unfortunately, due to state regulations and regional demand for power, pricing will vary greatly depending on where you plug in. (Read More…)
2016 wasn’t just a disappointing year for celebrities.
After stating that it would place between 80,000 and 90,000 vehicles in the hands of adoring customers before year’s end, Tesla failed to clear the delivery bar it had set for itself. While production numbers crossed the threshold, 2016 deliveries fell short, numbering only 76,230.
Still, the electric automaker — which has set much loftier production goals for the near future — doesn’t seem too concerned. (Read More…)
Tesla announced Friday that it will impose an additional fee of forty cents per minute on vehicles left idle in a Supercharger space for more than five minutes.
The new expense is apparently another attempt by the company to clamp down on the habitual misuse of its charging network. Since many Supercharging locations are literally parking spots and a Model S takes longer to “refuel” than a gas-powered car, it makes sense that Tesla drivers might wander off to search for coffee. (Read More…)
For a company that prides itself on clean performance, a massive lawsuit and public claims of less-than-advertised power wasn’t great PR.
Tesla just swept an annoying bit of litigation into the dustbin of history by promising a different kind of green to 126 Norwegian owners, all the while claiming it did nothing wrong. (Read More…)