Archive for the ‘Tesla’ Category

Musk’s Boring Company Set to Offer Test Rides in Pilot Tunnel

Short stretch to debut on Dec. 10.

by on Oct.22, 2018

On Dec. 10, Elon Musk's Boring Company will offer free test rides in Los Angeles its test tunnel in California.

Elon Musk’s Boring Company plans to unveil its first “test tunnel” in the Los Angeles suburb of Hawthorne on Dec. 10, and will offer “free rides” to the public a day later, the 47-year-old executive tweeted.

The ultimate goal, Musk previously announced, was to set up a network of underground tunnels that will permit vehicles, pedestrians and bicyclists to whisk around the City of Angels at speeds of up to 150 mph, avoiding the city’s notoriously gridlocked streets. Musk has indicated rides for individuals could run as little as $1.

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“The first tunnel is almost done,” Musk tweeted Sunday night to his 23 million followers. The pilot tunnel  “Opens Dec 10,” he tweeted, adding, “Opening event that night & free rides for the public the next day.” (more…)

Tesla Launches Lowest-Price Version of Model 3 Yet – But It’s Still Not the $35,000 Sedan Promised

New version actually will start at $45,000 before incentives – if fed tax credits will still be available.

by on Oct.19, 2018

Tesla CEO Elon Musk made good on his prediction of 55,000 Model 3 sedans in Q3. Now he's offering lower-priced variants.

With production finally on the rise at its Fremont, California assembly plant, Tesla is expanding the line-up of Model 3 variants, CEO Elon Musk late Thursday announcing what he billed as the lowest-price version of the battery-sedan yet offered.

But potential buyers might need to check the fine print carefully. According to a tweet from Musk, the new version of the Model 3 will cost $35,000 with the “true cost of ownership is closer to $31k after gas savings.”

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But this is not the $35,000 Model 3 that Musk promised to build when the sedan was first unveiled two years ago, setting off a flurry of activity, with about 400,000 potential buyers eventually putting down $1,000 deposits. The list price is actually $10,000 more. (more…)

Departure of Manufacturing Chief Accelerates Tesla Management Defections

Three top execs have bailed out since September, including brand new accounting chief.

by on Oct.18, 2018

Tesla's VP of Manufacturing, Gilbert Passin, has left the electric vehicle maker without offering an explanation.

While a variety of factors may be in play, Tesla is having more and more trouble holding onto key executives, three top members of its management team bailing out since just the beginning of September.

The latest to walk: Gilbert Passin, the battery-carmaker’s vice president of manufacturing. His departure comes barely a month after both Tesla’s chief accounting officer and chief people officer quit. While the company contends it has a deep enough pool of talent to weather these and prior departures, the management turmoil comes at a time when Tesla is under heavy pressure to accelerate production and sales in order to deliver the long-sought profit that CEO Elon Musk has promised for the second half of 2018.

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Musk himself is facing a variety of pressures, among other things to find a new chairman for Tesla, a role he agreed to forfeit as part of a settlement with the U.S. Securities and Exchange Commission. Musk also paid a $20 million fine after settling SEC allegations of fraud linked to the company’s abortive effort to go private. (more…)

Tesla Locks Down Site for 1st Chinese Assembly Plant

U.S. Senate, meanwhile, considers extending tax credits for Tesla, GM buyers.

by on Oct.17, 2018

Tesla Inc. has reached an agreement with the Chinese government to build an assembly plant in China.

After suffering a series of setbacks in recent weeks, things may be moving in the right direction for Tesla this week, and on a variety of fronts.

For one thing, the automaker has inked an agreement with the Shanghai government that will let it move forward on plans to set up a plant in the booming Chinese battery-car market, its first outside the United States.

Global News!

Closer to home, the U.S. Senate is  now considering a proposal that would extend the tax credits that have helped Tesla attract potential customers. Under current law, the incentives – worth up to $7,500 for an EV buyer – begin to phase out once a carmaker has sold 200,000 electric vehicles. Tesla recently passed that threshold, and General Motors is expected to reach that cap before the end of 2018. Industry analysts warn both companies could lose market momentum if they can’t offer the tax credits. (more…)

New Chips Improve Tesla Autopilot “500% to 2000%,” Musk Says

Updates coming in six months, free to current Autopilot owners.

by on Oct.16, 2018

Despite Tesla's claims to the contrary, safety advocates believe the company's use of the name Autopilot is misleading.

Several months ago, Tesla Inc. Chief Executive Officer Elon Musk suggested that all of the brand’s vehicles would be Level 5 autonomous by the end of the year. Most scoffed at the notion as that kind of autonomy is not expected to be a reality for a few years at least.

However, he’s doubled down – sort of – in a recent tweet where he said a new chip that improves Autopilot features would be available in about six months in all of the company’s new production electric cars.

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He provided an update on the new chip in a series of tweets, actually. (more…)

Porsche May Add Battery-Electric Macan Next, Hints CFO

Battery models set to generate 50% of Porsche sales by 2025.

by on Oct.16, 2018

The new Porsche Taycan, formerly known as the Mission E, is just the beginning of a slew of new battery-electric cars coming from Porsche.

Porsche is not only just getting ready to roll out its first pure battery-electric vehicle, the Taycan, but also it apparently sees the opportunity to electrify more of its line-up, with battery-powered products generating more than half its sales by 2025.

The automaker revealed one possibility at the Geneva Motor Show last winter, a concept battery-SUV dubbed the Mission E Cross Turismo that is essentially a high-riding version of the original Mission E concept that will become the Taycan sports car when it goes into production next year. Alternatively, the performance division of Volkswagen Group could electrify the smaller of its two current crossovers, the Macan. And still models will follow, according to Porsche’s chief financial officer.

Electrifying!

“There is no final decision yet, but you can expect that this will be the case because we need a large-volume model that is fully electric. This idea will then progress further with the next generations of the Panamera and Cayenne model lines,” CFO Lutz Meschke told reporters during a tour of the company’s product development center. (more…)

Teslaquila Coming to a Party Near You? Trademark Filing by Musk Says Likely Yes

Flame throwers. Surf boards. Tequila? Maybe.

by on Oct.15, 2018

Is this Tesla CEO Elon Musk's latest short-term brainchild to make some cash or could it be a viable enterprise.

Tesla. SpaceX. The Boring Co. Teslaquila? In late spring, Tesla CEO Elon Musk poked fun at Tesla critics in a playful tweet suggesting he had seen the writing on the wall and drown his sorrows in several bottles of “Teslaquila.”

That soon could be reality. Not the passing out part, but the tequila named after the company could after he filed an “intend to use” trademark application Monday for a tequila called Teslaquila.

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Neither Musk nor Tesla officials have elaborated on the filing, but the application implies a “good faith intention” to use the trademark in the future. Now Musk has a history of creating “businesses” on a whim, such as Not a Flamethrower flamethrowers, Tesla surfboards and others. (more…)

Tesla Sales Surge Past Mercedes; But Loss of Fed Tax Credits Could Hit Future Demand

Orders placed before 10/15 will be delivered in time to collect $7,500 giveback, Tesla says.

by on Oct.12, 2018

Tesla is quickly approaching the 200,000 vehicle limit that ends the $7,500 federal government tax incentive for EV buyers.

With its manufacturing problems largely overcome, Tesla sales have been booming in recent months, the California battery-carmaker delivering more cars in the U.S. than luxury mainstay Mercedes-Benz in the most recent quarter.

But whether Tesla can maintain that momentum is uncertain, especially with federal tax incentives of as much as $7,500 about to go away, even as a flood of new, long-range electric alternatives come to market, complete with those tax credits.

Business News!

Tesla is advising potential buyers that they will have only until the end of Monday, Oct. 15, to place a an order for one of its new vehicles and be sure of getting the $7,500 federal incentive. Starting in January, the credits will be halved. They will be cut again mid-year, and then vanish entirely under the revised U.S. tax law passed by Congress last December. (more…)

Update: Musk Calls “Incorrect” Reports Murdoch Will Replace Him as Tesla CEO

Hunt continues with clock ticking under SEC settlement.

by on Oct.11, 2018

Elon Musk appears to have ruled out reports suggesting James Murdoch will replace him as Tesla Chairman.

Fox CEO and Tesla board member James Murdoch is apparently out as a prospect to replace Elon Musk as the battery-carmaker’s chairman.

Musk, who must relinquish the post as part of a settlement with the SEC, issued a Wednesday afternoon tweet declaring “incorrect” a report in the Financial Times that cited two supposed inside sources naming Murdoch as the frontrunner in the search. The FT story came days after several other media outlets also pointed to Murdoch as the likely successor.

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The 45-year-old Murdoch is a friend of the Tesla founder and boss and has been on the company’s board since last year. He was seen as a particularly suitable replacement for Musk as he will soon relinquish his role as CEO of Twenty-First Century Fox, the media conglomerate founded by his father Rupert Murdoch, after it sells off most of its assets to Disney.

(more…)

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