Posts Tagged ‘tesla news’

Tesla Wants to Test Autonomous Semi-Truck in Nevada

Company surprises with autonomous package for truck.

by on Aug.10, 2017

Tesla CEO Elon Musk said the company would have a semi-truck ready by September.

Not long ago, Tesla founder and CEO Elon Musk outlined the company’s future products. The list included a semi-truck, which he likened to driving a go-kart.

That truck appears to be an autonomous reality as the company is asking Nevada if it can conduct real-world testing in the Silver State, according to the company’s testing permit application with the Nevada Department of Motor Vehicles, Reuters reported.

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The EV semi isn’t all that surprising as Musk has mentioned it on several occasions, including in a tweet not too long ago. “Tesla Semi truck unveil set for September,” Musk said a few months back, the tweet adding, “Team has done an amazing job. Seriously next level.” (more…)

Pressed for Cash, Tesla Issues Junk Bond in Bid to Boost Model 3 Production

Automaker lowers price of Model X SUV to reflect “efficiencies.”

by on Aug.07, 2017

The first "saleable" Model 3 shown after rolling off the line at the Fremont plant last month.

Aiming for a massive increase in production to meet strong demand for its new Model 3 battery-electric vehicle, Tesla is issuing $1.5 billion in high-yield junk bonds.

The announced comes less than a week after Tesla said it had narrowed its losses for the second quarter. During a conference call to discuss the earnings report, CEO Elon Musk indicated the automaker might need a new cash infusion but would try to avoid issuing new stock.

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The new debt offering is meant “to further strengthen its balance sheet during this period of rapid scaling with the launch of Model 3, and for general corporate purposes.”

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Buoyed by Strong Sales, Narrowed Loss, Tesla CEO Musk “Very Confident” About Future

“Zero concerns” battery-carmaker will miss next year’s 500,000 vehicle production goal.

by on Aug.03, 2017

Tesla CEO Elon Musk said he believes the company will have 25% profit margins on its Model 3 by late 2018.

The company may still be operating in the red, but Tesla’s improved second-quarter financial report helps set the goal for aggressive production ramp-up that could give it industry-leading profit margins in little more than a year, CEO Elon Musk said during a Wednesday evening teleconference.

Musk said he has grown “very confident” about the future of the California-based automaker, especially as he watches a flood of orders rush in for the new Model 3 battery-electric vehicles that went into production last month.

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Despite repeating a warning that the next six months could bring “manufacturing hell” for Tesla, the South African-born entrepreneur insisted it will pay off in the not-too-distant future. “People should have absolutely zero concerns – zero – that Tesla will be able to hit 10,000 vehicles a week by the end of next year.” (more…)

Tesla Narrows Second-Quarter Loss as Revenues Nearly Double

Investors rally after a week-long stock slide.

by on Aug.02, 2017

Early versions of the Model 3 are shown waiting for delivery to the first buyers last week.

After taking a sharp tumble, Tesla stock rallied on Wednesday, investors responding positively to a nearly doubling of revenues during the second quarter, with the battery-carmaker’s loss for the April-June period narrowing more than analysts had expected.

Tesla clearly needed a boost after suffering a nearly $70 a share dip from the record $383.45 closing it had hit on June 23rd. And the second-quarter earnings appeared to be just the tonic needed as the company moves into the critical rollout of its Model 3 sedan.

By the Numbers!

For the quarter, Tesla reported an adjusted loss of $1.33 a share, well below the $1.82 deficit analysts had anticipated, according to consensus numbers gathered by Thomson Reuters. Meanwhile, revenue jumped to $2.79 billion, while analysts had expected a figure of $2.51 billion. (more…)

Fear of “Manufacturing Hell” Has Investors Unplugging From Tesla

Model 3 ramp-up could prove seriously challenging, CEO Musk warns.

by on Aug.01, 2017

An SRO crowd gathers for the event marking the delivery of the first Tesla Model 3 on 7-28-17.

After spending months driving up the shares of Tesla, Inc., investors seemed ready to run on Monday after outspoken CEO Elon Musk warned that his company could face a half-year of “manufacturing hell” trying to ramp up production of the new Model 3 battery-electric sedan.

The Model 3 is Tesla’s long-awaited entry into the mainstream market, with prices ranging from around $35,000 to $60,000. The California carmaker is believed to have as many as 400,000 advance reservations. But it will face a serious challenge, Musk acknowledged, boosting production at the Tesla plant in Fremont, California to the point where it can roll out the promised 500,000 vehicles next year.

Breaking News!

Investors aren’t the only ones worried. A group of Tesla workers on Monday asked the company’s board to provide a plan that will, among other things, address worker safety during an aggressive ramp-up aiming to boost production almost five-fold from 2017 to 2018. Tesla has come under fire in recent months over allegations of unusually high injury rates at the suburban San Francisco plant.

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Tesla Delivers: First 30 Owners Get New Model 3s

Company ramping up to 5,000 vehicles per week target.

by on Jul.29, 2017

Elon Musk, Tesla founder and CEO, talks through a design issue on Model 3 during the new vehicle's debut.

In front of a crowd of thousands of cheering Tesla employees, Elon Musk may have taken the shortest victory lap ever, driving a new Model 3 onto a stage, a route of probably less than 500 feet to kick off the delivery of the first 30 Model 3s to customers.

Though the hype leading up to the moment was tough to escape, it was a milestone moment in the company’s history — a moment many thought to be a pipe dream about a decade ago when Musk was running around with the Roadster telling folks a mainstream EV was the company’s goal and that it would happen.

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“The whole point of Tesla was to build a great affordable electric car,” Musk said last night. “That’s what this day means. I’m confident it’ll be the best car in its class, gasoline or not, hands down.” (more…)

Tesla Cutting from the Bottom: Kills Model S 75

EV maker looking for more separation between Model S, Model 3

by on Jul.24, 2017

Tesla announced it was ending sales of the Model S 75. The maker is looking to put some distance between the Model S and Model 3.

As Tesla’s new addition to its line-up, the Model 3 is now hustling down the assembly line, the company made another change to its portfolio, cutting the Model S 75, which was the least expensive model the EV maker offered prior to the Model 3.

The rear-wheel drive Model S 75 started at $69,500, but now the least expensive Model S is the 75D, an all-wheel-drive version of the 75 that starts at $74,500.

EV News!

In addition to creating a bigger price gap between the two vehicles, it also means that the Model S family is only available in AWD. (more…)

Under 30 Minutes – Underground – From NY to DC? Musk Claims He’s Gotten the Go

Tesla CEO claims “verbal” approval for buried Hyperloop system.

by on Jul.20, 2017

A rendering of the HyperLoop shows a vehicle blasting through its near complete vacuum.

You take a quick elevator ride down into a cavern dug well below the busy streets of New York City. A half-hour later you ride back up to the surface, but now you’re in the nation’s capital.

At least that’s the scheme envisioned by entrepreneur Elon Musk, who said in a tweet that he has gotten “verbal govt approval” for his new tunneling venture, the Boring Company to build an underground version of his Hyperloop concept to connect New York and Washington, D.C. Total travel time, he estimated, would be just 29 minutes, or a fraction of what it today takes even by air, never mind the fastest conventional trains operated by Amtrak.

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The project would create a revolution in transportation, especially by linking up two major cities on the East Coast. But Musk is also trying to pull together another underground project that would allow motorists to avoid the traffic jams of Los Angeles by traveling through a network of underground tunnels.

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Volkswagen Challenges Tesla Model 3 Before It Hits the Streets

German maker says its I.D. model will be much less expensive.

by on Jul.17, 2017

Volkswagen says when its I.D. hits the market in two years, it'll be cheaper than its primary competitor, the Tesla Model 3.

It hasn’t even hit a dealershi, er, retail store yet, but the Tesla Model 3 is already generating a strong response from future competitors, including Volkswagen which said its mass-market model, the I.D., will be priced lower than the Tesla entry.

Production on the Model 3 began last week, which is supposed to be Tesla’s entry-level model at a base price of $35,000. However, once a few additions are made, the costs quickly escalate past $40,000 and closer to $50K, claim VW executives.

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The Golf-sized I.D. is expected to start at $27,000 and boast a range of 249 to 373 miles, depending upon different variables. It would come in at 168 horsepower. The Model 3 is expected to get about 215 miles to a full charge. (more…)

Musk Wants to Open More Car, Battery Plans

Looking at “two or three” Gigafactories in U.S. alone.

by on Jul.17, 2017

A new Model 3 in front of Tesla's Fremont, CA plant.

The coming months will be the real test for Tesla. With the launch of the new Model 3 we’ll soon discover whether this money-losing niche player can transform itself into an immensely profitable, mainstream automaker.

No surprise, CEO Elon Musk is already looking at what will have to happen as Tesla grows, and grows fast, 2018 volume forecast to hit 500,000 battery-electric vehicles, or six times the company’s 2016 volume. To keep up with anticipated demand, especially with even more products in the pipeline, Tesla is laying plans for a network of new car and battery plants.

Breaking News!

If Tesla hits its target with the Model 3, the company’s Fremont, California assembly plant will be “bursting at the seams,” Musk recently told shareholders. He has been dropping plenty of hints on what will follow, and that is likely to include at least one more assembly plant in the U.S., as well as one in China, while we could see as many as 20 new Gigafactory battery plants.

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