Archive for the ‘Tesla’ Category

Tesla Loses $522M in Q1 Despite 3% Model 3 Production Jump

EV Maker produced roughly 63,000 Model 3 vehicles in Q1.

by on Apr.24, 2019

Tesla CEO Elon Musk said delivering Model 3s to Europe was a logistical challenge unlike anything he'd seen before.

Tesla posted a $522 million operating loss on revenue of $3.7 billion during the first quarter of 2019. The loss came despite a 3% increase in Model 3 production, accounting for about 63,000 vehicles.

This improvement in production rate was modest mainly due to changes to the production process for the introduction of new variants of Model 3, fewer working days and a supplier limitation, the automaker noted.

Sales News!

CEO Elon Musk noted that the company struggled with a massive increase in the delivery of Model 3 sedans to Europe. In fact, the completed half of the deliveries during the last 10 days of the quarter, he noted during the earnings call. (more…)

Tesla Boosting Range, Performance of Existing Models

Automaker also reviving lower-priced 75D versions of Models S and X.

by on Apr.24, 2019

Tesla surprised some Model 3 owners with an over-the-air update that extended the sedan's range by 26 miles to 286 miles.

Thousands of Tesla owners recently discovered a pleasant surprise after hitting the “Start” button on their battery-electric vehicles.

The automaker used its ability to deliver over-the-air updates to extend the range on certain versions of the Model 3 by 26 miles, those sedans now able to travel up to 286 miles on a single charge. At the same time, vehicle performance also was enhanced.

Electrifying News!

Now, Tesla says, it will be extending the range of the older Models S and X, though this will require a hardware, rather than software, fix. Extended range versions of those two products assembled from April 23 onward will get as much as a 10% bump in range, according to Tesla. (more…)

Tesla Investors Fret as Automaker Prepares to Release Q1 Earnings

Expected poor sales with no turnaround in sight causing worry.

by on Apr.23, 2019

Tesla CEO Elon Musk is bracing for tough first quarter results. Investors aren't optimistic.

Tesla CEO Elon Musk has already signaled that first quarter earnings weren’t going to look good. Just how bad they might be is the big question that has investors and analysts alike in a frenzy.

The automaker won’t report earnings until after the final bell on Wall Street on Wednesday, but based on the poor Q1 sales numbers it revealed a few weeks back, the general consensus isn’t very positive. Analysts polled by FactSet are forecasting a consensus adjusted loss of $0.99 a share.

Business News!

On the side, that’s significantly better than the $3.35 a share Tesla lost during the first quarter of 2018. But that was during a period Musk described as “production hell,” when the automaker was struggling to fix issues at both its Reno Gigafactory battery plant and its Fremont, California, assembly line. With those problems largely resolved, Tesla managed to pull a profit for the final half of 2018. (more…)

Tesla CEO Musk Set to Announce “Full Self-Driving” Vehicle Today

But what that means remains unclear.

by on Apr.22, 2019

Tesla CEO Elon Musk said the company will have a fully autonomous vehicle on the road by the end of the year.

Today could prove to be a transformative day for Tesla and the auto industry at large, at least if Elon Musk delivers the “full self-driving” vehicle that the battery-carmaker’s CEO Elon Musk has promised to unveil.

Tesla has long been a proponent of autonomous driving, its Autopilot allowing limited hands-free operation on well-marked, limited-access roadways. Although the automaker has so far been faint with hard details, it has dropped plenty of hints that the updated Autopilot system could operate without direct driver involvement in most, if not all situations.

Product News!

If that proves to be the case, observers suggested, it could put Tesla in the forefront of an extremely competitive field, leapfrogging key players like Google spinoff Waymo and General Motors. But considering the problems the original Autopilot system has had, there remain plenty of skeptics. (more…)

Infiniti Qs Inspiration EV Concept Charges into Auto Shanghai

First new Infiniti battery-car “to be built in China, for China."

by on Apr.16, 2019

Infiniti brand design chief Karim Habib helps debut the new Qs Inspiration battery-car concept.

Infiniti has formally unveiled its new Qs Inspiration battery-car concept at 2019 Auto Shanghai and confirmed it will strongly influence the maker’s design direction as it begins rolling out its first all-electric models.

With its tall, blunt nose, and low, fastback roofline, the Qs is meant to “reinterpret” the traditional look of three-box sedan designs. Meanwhile, the flexible architecture underlying the Qs will wind up being used for an array of upcoming battery-electric vehicles, or BEVs.

Electrifying News!

Eventually, Infiniti officials have said, the goal is to offer battery-based powertrains for all of the Infiniti line-up, whether plug-in hybrid or pure electric. But the automaker noted that its first BEV will be “built in China, for China.” That comes as no surprise to many industry observers considering the New Energy Vehicle mandate enacted in late 2017 which has already transformed China into the world’s largest market for plug-based vehicles.

(more…)

Survey: Most Americans See EVs as City, Commuter Cars

Majority see the need for just 75 miles of daily range.

by on Apr.12, 2019

One of several recent Mini electric vehicle concepts.

Sales of battery-based vehicles have finally begun to escalate as their availability – along with public awareness – grows. But a new survey suggests that consumers are pigeonholing them into a niche that could limit their popularity.

Nearly two out of three American consumers said they saw the best way to use a battery vehicle was for commuting or as a city car, according to the survey by Mini USA, the British automaker that is itself preparing to enter the electric vehicle market.

Electrifying News!

“It is important for us as a brand to understand how consumers want to use their electric vehicles, and what they know and don’t know about them as we move closer to the launch of the MINI Cooper S E electric vehicle in the U.S.,” said Andrew Cutler, Head of Corporate Communications, MINI USA.

(more…)

Fisker Teases All-Electric CUV, Hires Manufacturing Vet

Search begins for plant site; 11 states in the running.

by on Apr.09, 2019

Fisker offers another teaser image of the all-electric Model Y fighter it's developing.

Veteran auto designer and automotive entrepreneur Henrik Fisker continues to press forward on the comeback trail, his new company offering another tease of the all-electric SUV it plans to roll out.

Perhaps more importantly, Fisker is signaling this is no pipe dream by announcing that he has hired another industry veteran, Don Jackson, to head manufacturing operations. At least 11 states are now in the running for the planned Fisker assembly plant.

Electrifying News!

“I share Fisker’s vision of driving mass electrification forward by producing more desirable EVs for the global market here in the United States, and I look forward to building a disruptive strategy that combines Fisker’s unique business model with the very best manufacturing processes that assure unparalleled results and outstanding, reliable products,” Jackson said in a statement.

(more…)

Unlikely Partners: Tesla Helps FCA Head Off Massive EU Fine

Automakers will "pool" emissions numbers.

by on Apr.08, 2019

It appears that European sales of the Model 3 are going to not only help Tesla, but Fiat Chrysler as well.

Fiat Chrysler Automobiles has come up with an intriguing way to head off hundreds of millions of dollars in fines from the European Union for missing its emissions targets, a solution that will team it up with its upstart competitor Tesla.

FCA is using an “open pool” option that will allow it to count Tesla’s growing sales in Europe as if they were its own products. Tesla has used a similar approach in the United States, a move that was particularly critical in its early years.

Business News!

“The whole point of a CO2 credit market is to leverage the most cost-effective ways to reduce overall greenhouse gas emissions in the market,” FCA said in a statement. “The purchase pool provides flexibility to deliver products our customers are willing to buy while managing compliance with the lowest cost approach.” (more…)

Judge Tells Tesla CEO Musk and SEC to Work it Out

Nathan tells both sides to put their "reasonableness pants" on.

by on Apr.04, 2019

Tesla CEO Elon Musk emphasized his distaste for the SEC during an interview on "60 Minutes."

The much-awaited courtroom showdown between Tesla CEO Elon Musk and U.S. Securities and Exchange Commission never materialized as the two sides were told to make nice and work it out in the next two weeks.

Judge Alison Nathan instructed the “combatants” to renegotiate and clarify parts of a 2018 settlement agreement that mandated stricter oversight of Musk’s use of social media, particularly Twitter. The two sides were in court because the SEC believes Musk violated the terms of the deal, which cost Tesla and Musk $40 million, and he should be found in contempt.

Legal News!

“Put your reasonableness pants on,” Nathan told both sides during a hearing in New York on Thursday. (more…)

Tesla Suffers Massive First Quarter Sales Drop

Upside is that sales up 110% from year-ago results.

by on Apr.04, 2019

Lower-than-expected Model 3 deliveries in the first quarter sent Tesla's stock tumbling 11% in premarket trading.

Many Tesla watchers were expecting a massive drop in first quarter sales compared with last year’s final quarter, but some were buoyed by a prediction that sales would exceed analysts’ estimates. In the end, both sides were left wanting as the company’s sales dropped 31% and the company’s stock is taking the hit, falling 11% in early trading.

The automaker produced 77,100 vehicles during the first quarter, including 62,950 Model 3 and 14,150 Model S and X. However, it delivered just approximately 63,000 vehicles, which was 110% more than the same quarter last year, but 31% less than last quarter. This included approximately 50,900 Model 3 and 12,100 Model S and X.

News Now!

The 50,900 Model 3 Tesla deliveries was lower than analysts’ average estimate of 51,750, and perhaps more importantly, was lower than the two previous quarters. (more…)

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