Tag: Tesla

By on June 14, 2019

Image: FCA

Large U.S. companies hoping to side-step the 25 percent tariff on Chinese goods by appealing to the government aren’t having much luck. Since July, the U.S. has imposed the tariff on billions of dollars worth of goods from the People’s Republic, leading to financial fallout for automakers heavily invested in the region.

And it seems no one complained more than General Motors. Tesla, Nissan, Fiat Chrysler, and Uber also sent in official gripes in the hopes of receiving an exemption, only to have the door hit them on the way out. (Read More…)

By on June 5, 2019

General Motors and Fiat Chrysler Automobiles have reportedly reached an agreement to purchase federal greenhouse gas credits from Tesla. While it’s common knowledge that the electric carmaker has raked in revenue by selling credits for years, disclosures with the State of Delaware help paint a clearer picture.

Apparently, GM filed to buy credits from Tesla earlier this year while FCA bought them on several occasions in 2016, 2018, and again earlier this year. Considering FCA’s American lineup, we’re not exactly quivering with disbelief. CEO Mike Manley could show up at a press conference, light a pool of gasoline on fire, and suggest it was Dodge’s new corporate model before we’d raise an eyebrow.

As unsurprising as FCA’s inability to adhere to present-day pollution mandates happens to be, there is a story here. The rising demand for greenhouse gas credits is changing the industry in some rather interesting ways.  (Read More…)

By on June 3, 2019

A Tesla Model S suffered a total meltdown after being connected to one of the company’s proprietary Supercharger stations in Antwerp, Belgium. While details are scant, local reports state the driver simply went to charge his automobile and returned to a burning wreck a short time later.

Considering the fire department had to totally submerge the ruined vehicle in a pool of water to ensure the car didn’t reignite, the odds of uncovering exactly what went wrong appear slim. But it wasn’t all that long ago that Tesla was pushing over-the-air updates to  mitigate a rash of fires that cropped up in the United States and Asia over the past few months. Surely, the manufacturer has some idea of what might have gone wrong.  (Read More…)

By on June 3, 2019

After claiming, via official channels, that its Nevada Gigafactory would likely become the site of Model Y production, Tesla seems to have changed its mind on where to build its upcoming crossover.

During a weekend podcast, Tesla CEO Elon Musk said production of the vehicle will likely take place where all other Teslas are built. It might not even require a tent. (Read More…)

By on May 28, 2019

Months after promising a $35,000 base Model 3 in the United States, Tesla appears to have only just recently begun offering the “Standard Range” variant to the public. The vehicle comes with locked features and a 10-percent reduction in maximum range. However, most of the models milling around on public roads appear to be Standard Range Plus variants waiting on an over-the-air update to convert them into a normal SR.

Meanwhile, Tesla is looking at the Chinese market and calculating what the Model 3 will be worth there. It’s even asking Asian customers to hazard a guess as to what its base MSRP will be, claiming it has a big announcement scheduled for May 31st.  (Read More…)

By on May 22, 2019

tesla model 3

In this writer’s opinion, one of the greatest things to happen to high-speed motoring is the blind spot monitoring system. Try as we might to religiously check our mirrors and peer over our shoulders before each lane change, there’ll always be that time we half-ass it, just as an unseen car creeps up in the shadow of our B- or C-pillar. BSM can be a savior.

However, handing over the entire lane-change process to a combination of software and sensors, at least in Tesla vehicles, is far, far worse than doing it yourself, Consumer Reports claims. After giving the latest update to Tesla’s “Navigate on Autopilot” feature a shakedown cruise on the highways of Connecticut, the consumer advocacy group handed the system a failing grade. (Read More…)

By on May 22, 2019

Elon Musk + Tesla Model S Circa 2011

In what kind of shape would Tesla find itself today if tech giant Apple had acquired the automaker in 2013? That’s a question for analysts to ponder in their off hours, as Apple’s reported offer went nowhere.

Craig Irwin, an analyst at Roth Capital Partners, claims specific knowledge of the failed bid, telling CNBC that Apple wished to acquire Tesla for $240 a share — a higher price than the automaker’s stock currently trades at. (Read More…)

By on May 21, 2019

Image: Tesla

There must be more than a few half-grins among the cynical, perpetually grumpy denizens of Finance Twitter today. For the first time since late 2016, Tesla’s stock price opened below $200. Compared to the sky-high valuation the company’s enjoyed a year or two ago, Tesla’s sinking shares reflect the weight of reality.

Tesla needs cash. Years after it began building electric cars for the fairly well-off masses, the company’s actions in recent months stands in stark contrast to the rosy predictions of the past, and it seems people are taking notice. (Read More…)

By on May 17, 2019

tesla-model-3

Ten months. That’s how long Tesla’s CEO claims this month’s offering of $2.7 billion in stock and convertible notes bought the struggling automaker.

Hungry for cash to fuel new model development, a Shanghai Gigafactory, and an assembly line on which to build the upcoming Model Y crossover, Tesla has resorted to endless measures to trim costs, from moving to an online sales model and attempting to cull the bulk of its sales staff, to general staff reductions, to reducing build configurations. Vehicles prices seem to change by the week.

And still it’s not enough. To keep the automaker afloat, Musk told employees, the company will need to count every penny. (Read More…)

By on May 16, 2019

Tesla Model 3, Image: Tesla

A fatal March collision between a Tesla and a semi trailer that bore a strong resemblance to a crash in the same state three year earlier was more similar than initially thought.

Following the March 1st collision between a Tesla Model 3 and a semi on US 441 in Delray Beach, Florida, in which the car underrode a trailer crossing the divided roadway, the National Transportation Safety Board went to work. A preliminary report is now out, confirming suspicions that, like the 2016 crash, the car was under the guidance of Tesla’s Autopilot driver-assist system at the time of the crash. (Read More…)

By on May 16, 2019

tesla model-s-rear, image: Tesla Motors

The spontaneous combustion of several Tesla vehicles in recent weeks has forced the automaker into action, issuing over-the-air updates in an attempt to snuff out the problem… and smother another round of bad PR. To its credit, Tesla seems to be taking the matter seriously.

The update covers the company’s Model S and X vehicles, regardless of country. Meanwhile, investigations continue into the cause of recent blazes in Shanghai, San Francisco, and Hong Kong. (Read More…)

By on May 3, 2019

Elon Musk

Hot on the heels of yesterday’s Tesla cash-raising bonanza, the electric automaker is looking to boost the size of its stack once again.

After Thursday’s shelf offering of stock and convertible notes, Tesla announced Friday it wants to boost its injection of capital from $2.3 billion to $2.7 billion, issuing further common stock and debt. CEO Elon Musk now says he’ll buy $25 million of the new stock, up from $10 million yesterday. (Read More…)

By on May 2, 2019

Financial Twitter and Tesla Twitter — groups that are often one and the same — are in hardcore prediction mode after Tesla announced plans to raise $2 billion through the sale of stock and convertible bonds.

The automaker’s move comes after a first-quarter earnings report showed a steep drop in deliveries and automotive revenue, plus a $702 million net loss. Tesla’s cash pile dwindled, quarter over quarter, to $2.2 billion — its smallest stack in years. Among those snapping up shares will be CEO Elon Musk, who promises to buy $10 million in common stock. (Read More…)

By on May 1, 2019

Tesla Model 3, Image: Tesla

Forgive this writer for channeling Jonathan Pryce. Brush up on your secret handshake, too, as Tesla has a new version of the Model 3 customers can’t order online.

It’s a model that stands to become even more of a ghost than the U.S.-market Model 3 Standard Range, which disappeared from the company’s website after being on sale just a few days. American customers don’t apply here, as this cynical model’s sole purpose is to undercut a government EV incentive program’s price cutoff by a single dollar. A dollar, it should be said, that’s worth about 75 U.S. cents.

Who’s excited about 93 miles of range? (Read More…)

By on April 25, 2019

tesla-model-3

Analysts and investors, who were already warned to expect disappointment, didn’t walk away disappointed from Tesla’s first-quarter 2019 earnings report. The automaker’s two-quarter streak of profitability came to a crashing halt, with the company warning that next quarter might bring with it another loss.

Quite an about-face from the rosy projections issued at the start of the year. It wasn’t all that long ago that CEO Elon Musk was only mildly worried about Q1. Now, as the company reports a $702 million loss, the onus is on Musk to restore investor enthusiasm the hard way. (Read More…)

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