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…)
At the time of this writing, the Dow Jones Industrial Average is down roughly 650 points on Monday, which is more than 1,500 points off of where we were at the beginning of August. A lot of the run is fueled by fears that China is tapering off its growth (or they’ve been making it up for a while) and that Europe is tinkering on the brink of sinking into another recession. (Read More…)
Expert marketing company, and sometimes computer-maker, Apple has poached an automated car engineer from Tesla to join its growing roster of robot car builders, Reuters is reporting.
According to Jamie Carlson’s LinkedIn profile, the former Tesla engineer has joined Apple in “Special Projects.” Carlson is the seventh high-profile hire for the Cupertino-based company who has specific automotive experience. Carlson joins a former Volkswagen engineer, a Chrysler VP and the former deputy director of autonomous systems at the Swiss Federal Institute of Technology, among others, at Apple.
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…)
Gearing up to sell its own four-door, all-electric sedan in a couple years, Aston Martin CEO Andy Palmer told well-heeled listeners in Monterey, California that Tesla’s “Ludicrous Speed” was plain ol’ dumb, Automotive News reported.
“We don’t do Ludicrous because Ludicrous speed is stupid,” Palmer said.
(But selling a variation of a four-door Aston Martin that’s been on sale for 6 years with a 200-mile range for $200,000 to $250,000? That’s genius.) (Read More…)
Audi’s first production electric car will be a crossover to fight the Tesla Model X, the German luxury carmaker said Wednesday.
Concept drawings and initial specifications released by Audi detailed their crossover that is powered by three electric motors — borrowed from its R8 e-tron concept car — with a proposed range of over 300 miles. According to Audi, the crossover, which is called the “e-tron quattro concept,” would slot between the company’s 182.6-inch Q5 and 200.3-inch Q7. Tesla’s Model X is 197 inches long.
The crossover’s lithium-ion battery would give the car a range more than 300 miles.
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.
Following 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 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.