Posts Tagged ‘tesla model 3’

Despite Problems, Musk Promises Tesla Profit in Second Half of 2018

Stock up, but not everyone convinced.

by on Apr.13, 2018

CEO Elon Musk shown exiting the back seat of a Model 3 at its debut. Musk still needs to dig out of trouble caused by Model 3 delays.

It’s been a tough few weeks for Tesla, the battery-electric automaker again missing production targets, being accused of improperly firing nearly 1,000 factory workers and being scolded by federal safety regulators for its role in investigating a fatal crash involving its semi-autonomous Autopilot system.

But that has done little to dampen the enthusiasm of CEO Elon Musk. After earlier this week suggesting Model 3 production isn’t delayed but in a “time shift,” the South African-born exec on Friday tweeted a promise that Tesla will be both profitable and produce positive cash flow by the second half of this year.

Promises, Promises!

Musk’s latest tweet came in response to a harsh Twitter post by British news magazine The Economist, which warned Tesla would need to raise more cash this year. “The Economist used to be boring,” Musk responded, “but smart with a wicked dry wit. Now it’s just boring (sigh). Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money.”

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Tesla Hit With NLRB Complaint Over Mass Firings

Feds probe controversial firing of nearly 1,000 employees.

by on Apr.05, 2018

Tesla's Fremont plant has faced a series of problems over the last year.

The National Labor Relations Board has filed a formal complaint against Tesla, finding merit to a series of charges involving the company’s treatment of employees over the past months, including claims that union supporters were swept out in a mass firing.

Charges, cited by the NLRB, range from terminating employees in retaliation for engaging in union and/or protected activities to unlawful interrogations of union supporters. Many of the pro-union employees were fired last fall when Tesla dismissed nearly 1,000 employees for what it described as substandard job performance.

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Unplugged?

Tesla has yet to file an answer to the complaint lodged by the NLRB but denied the allegations when the union fielded the charges last autumn. It will have to come up with a response before a trial date now set for June 11.

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Tesla Again Misses Production Target for Model 3

Output up, still 20% short of goal, according to Musk e-mail.

by on Apr.02, 2018

Tesla is finally ramping up Model 3 production but still has a long way to go to meet targets.

Tesla shares took another 5% tumble on Monday after reports surfaced that the automaker once again missed its production targets for the much-delayed Model 3 battery-sedan.

Delays in the roll-out have hammered Tesla’s balance sheet, with some analysts expecting the California carmaker to have to go back for another fundraising round. It didn’t help to have Elon Musk post an April Fool’s Day joke indicating the automaker would be declaring bankruptcy.

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In an e-mal sent to Tesla workers on Monday, Musk said production of the Model 3 had reached the 2,000 per week mark at the end of the first quarter, but that is still short of the 2,500 target Tesla had projected back around the beginning of the year, and it is even more substantially behind the original target Tesla had laid out when Model 3 production began in July 2017.

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GM Boosting Bolt EV Production as Demand Surges

CEO Barra asking Congress to expand electric-car tax credits.

by on Mar.08, 2018

There's significant room to expand Chevy Bolt EV production at GM's Orion Assembly Plant.

General Motors plans to expand production of its first long-range battery-car, the Chevrolet Bolt EV, CEO Mary Barra said during an energy conference in Houston.

The Bolt has experienced stronger than expected demand in recent months, some analysts suggesting that is the result of the slow ramp-up of production for Tesla’s own mainstream EV, the Model 3.

Plug In Now!

Demand has also been buoyed by $7,500 federal tax credits that bring the base price of the Bolt down below $30,000. But under the current rules, GM is expected to soon see the credits phase out, something that could cut into demand, leading Barra to say that, “We feel tax credits should be expanded so our customers continue to receive the benefits going forward.”

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Elon Musk is “Dying to Build” a Pickup

Tweets it will follow launch of Model Y compact SUV.

by on Dec.27, 2017

A rendering shows the Tesla pickup which bears a strong resemblance to the Tesla Semi.

Tesla CEO Elon Musk said the battery-carmaker is moving forward on plans to bring a pickup truck to market – though he said it will have to wait until the launch of a new compact electric SUV to be called the Model Y.

Musk has been hinting about a pickup for some time, and said in a series of tweets that he is “dying to build it.” The basic design has been something the South African-born entrepreneur said he’s been working on for almost five years.

Electrifying News!

A rendering of a possible pickup was revealed in mid-November during Tesla’s preview of its planned Semi truck and Roadster models. When asked earlier this year how the Tesla pickup might compare with the Ford F-150 Musk said it would be of “similar total size.”

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Tesla’s New Semi Truck Meets the Hype

Truck travels 500 miles fully loaded on a single charge.

by on Nov.17, 2017

Tesla CEO Elon Musk shows off two version of the company's new semi truck.

Elon Musk’s mind-blowing, if oft-delayed semi-truck finally took center stage and if the numbers Tesla’s CEO tossed out are true, it’s a game changer.

“It blows my mind and I think it’ll blow yours,” he said after two models arrived as adoring Tesla fans screamed and shouted in delight.

News Now!

The new truck, which features a dramatically designed cab that puts the driver in the center, will travel 500 miles on a single charge. This range comes with the truck fully loaded at 80,000 pounds, driving highway speeds, Musk noted. It also comes with a 1-million mile guarantee.  (more…)

Tesla Hit by Lawsuit, Called “Hotbed for Racist Behavior”

Tesla responds.

by on Nov.15, 2017

Tesla's Fremont plant has been at the center of numerous discrimination lawsuits this year.

(We’ve updated the story to reflect comments from Tesla on the new lawsuit.)

Tesla has been hit with another lawsuit over the working environment at its Fremont, California assembly plant, this one alleging the factory is a “hotbed for racist behavior.”

The battery-carmaker, which bills itself as a progressive force for change in the auto industry, has been hit by several previous lawsuits, including one alleging sexual harassment and gender discrimination on the factory floor. The latest, brought as a class-action, claims black workers were targeted by racial slurs and that Tesla did not act in response to their complaints.

Electrifying News!

Tesla sent a response to TheDetroitBureau.com on Wednesday that contended the lawsuit is a “hotbed of misinformation.” The automaker asserted it “is absolutely against any form of discrimination, harassment, or unfair treatment of any kind,” and contends that when it was advised of racial tensions between groups of African-American and Hispanic workers it stepped in and ultimately discharged three employees.

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“Widespread shortcomings”: Key Analyst Trashes Tesla Model 3 After Test Drive

“Relatively poor” fit and finish, says Bernstein analyst.

by on Nov.10, 2017

A handful of Model 3 sedans at the Fremont plant waiting to be delivered to early customers.

Already hammered by manufacturing problems that have severely limited line rates at its Fremont, California assembly plant, Tesla’s Model 3 is being trashed by a key automotive industry analyst after taking the compact battery-electric vehicle for a test drive.

The Model 3 is Tesla’s first entry into the mainstream automotive market and, unlike its earlier models which appeal to affluent buyers with multiple vehicles, the new sedan is going after everyday owners who may have only one vehicle at home. As such, getting quality right is expected to be a critical challenge for the California-based automaker.

The Last Word!

“Our inspection revealed widespread shortcomings in fit and finish ,” wrote Bernstein analyst Toni Sacconaghi, after taking the Model 3 for a test drive out of Tesla’s showroom in Brooklyn. “Tesla representatives acknowledged some of the fit issues, but stated that they believed that Model 3 was much further ahead than where Model X and S had been at this point in production.”

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Half the Vehicles on U.S. Roads Will Be Electrified by 2030

New BCG study sees explosive growth as battery prices fall, range grows.

by on Nov.02, 2017

The Chevrolet Bolt will soon by joined by "at least" 20 more battery-electric vehicles from GM.

While battery-based vehicles still account for only a miniscule share of the global automotive market, a new study forecasts explosive growth over the coming decade or so, with as much as half of the vehicles sold in the U.S. by 2030 expected to be using some form of electrification.

In the relative near-term, government incentives, including the $7,500 federal tax credit offered in the U.S., will be needed to build momentum, said Xavier Mosquet, the lead author of the study for the Boston Consulting Group. But as battery prices fall and range increases, the technology will become increasingly attractive to consumers without government assistance, he said.

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“We see an economically sustainable market for electric vehicles somewhere between 2025 and 2030,” said Mosquet, who heads BCG’s Detroit office. And the faster battery prices fall – and the more oil costs rise – the more the equation shifts from the internal combustion engine to electrified vehicles.

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Your Guide to the 20 or More Long-Range EVs Coming to Market by 2020

Manufacturers betting on longer range, improved performance, lower prices and faster charging.

by on Sep.06, 2017

The 2018 Nissan Leaf.

With last night’s debut of its second-generation Leaf, Nissan becomes the latest automaker to charge into the long-range battery-electric market.

The 2018 model will travel an estimated 150 miles per charge — or nearly double what the original version of the battery-electric model delivered when it debuted in 2010. Though not quite up to the 200--mile range of the new Tesla Model 3 and Chevrolet Bolt, the new Nissan Leaf is expected to be part of a game-changing trend that will bring a wave of long-range battery cars to market, vehicles that will largely eliminate the concept of “range anxiety” from the vocabulary.

Stay Plugged In!

The 2018 Leaf introduces a number of new features, such as its ProPilot Assist system, while keeping the price down at $30,000 – before factoring in federal tax incentives – underscoring another critical trend in the battery-electric market: as battery costs plunge, automakers are bringing more new EVs into mainstream price segments. Add faster charging and the potential appeal of these new models grows exponentially. (more…)

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