Tesla
116 articles in this category
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Saturday night at Tesla's Fremont, California assembly plant was a sight to behold. "...packed with people Saturday evening as the last hours of the quarter drew to a close. Red couches and tall white tables were set up outside, a DJ played music and a truck selling Vietnamese food was on hand," Bloomberg reports. Was Tesla was celebrating an important milestone? No, the company was using this to try and motivate their workers to get more Model 3s out the door to provide some good news
A week Tesla is trying to forget
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.Over the weekend, Tesla CEO Elon Musk took to Twitter and announced a new powerful version of the Model 3. The version according to Musk will cost $78,000 and will be "quicker & with better handling. The last line of Musk's tweet made us chuckle since the current Model 3 warranty doesn't permit racing and autocross. Nevertheless, it has brought up questions as to where the $35,000 Model 3 is. For a number of buyers who plopped down the $1,000 deposit, this is the model they
Where's the mystical $35,000 Model 3?
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With the Tesla Model X coming over the horizon, talk has begun about Tesla's next model, the Model 3. As we have reported previously, the Model 3 will be around the size of a BMW 3-Series, have a total range of 200 miles, and cost somewhere around $35,000. But the Wall Street Journal reports there is more to the Model 3. JB Straubel, Tesla’s chief technical officer said at conference in Washington D.C. this past week that the Model 3 will not only come in sedan, but a crossover when its laun
The Tesla Model 3 is to have two variants
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Despite posting $1.1 billion in revenues for the first quarter ($1.6 billion under non generally accepted accounting principles - GAAP), Tesla reported a net loss of $282 million for the quarter. Compared to the last quarter, Tesla made less in revenue, but the loss was slightly less. Tesla credits this to a careful watching of its spending. Tesla notes that its cash on hand - $1.4 billion - "does not include any meaningful cash flow from Model 3 reservations," but a fair chunk of that reservati
But Tesla is moving its 500,000 vehicle production target from 2020 to 2018
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The past couple of months have not been pleasant for Tesla. Production delays of Model 3, the firing of 700 workers, and various parts of the Model 3 being handmade have put a negative light on the electric car company. Yesterday, Tesla announced their Q3 results and the news isn't pretty. Tesla reported a $671 million loss for the quarter, making it the largest quarterly loss. The company burned through $1.42 billion in cash in the quarter as it worked on ramping up Model 3 production. Rev
Posted Their Largest Loss in A Quarter
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There were serious concerns before the beginning of Tesla's annual shareholders meeting mostly due to CEO Elon Musk's erratic behavior over the past month or so. But Musk was on his best behavior during the meeting, where some big announcements were made. On the business front, Tesla shareholders voted to keep Antonio Gracias, James Murdoch, and Kimbal Musk on the board, despite criticisms from a group of shareholders that they aren't fully independent from Musk. There was also the proposal
Thankfully, Elon Musk was behaving quite well
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Tesla's stock opened under $200 at $197.75 on Tuesday, a substantial decrease from the $332.80 it was trading for in December 2018. In April, Tesla posted a $722M loss for the first quarter of 2019. Tesla has faced terrible delivery reports over the last two quarters while also trying to get the new Tesla Model Y production online and a Gigafactory in Shanghai operational. The Los Angeles Times reports that Wedbush Securities Analyst Dan Ives has cut the price target of Tesla from $275 a
...Tesla stock under $200 as company faces cash crunch...
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Tesla CEO Elon Musk made a surprise announcement earlier this year with the upcoming Model Y crossover using a new platform and not the one used for the Model 3. Musk has changed his tune, however. “Upon the council of my executive team . . . who reeled me back from the cliffs of insanity—much appreciated—the Model Y will in fact be using substantial carryover from Model 3 in order to bring it to market faster,” said Musk during the second quarter earnings call yesterday. How much fast
There has been a change of plans for the upcoming Model Y
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It was only eight weeks ago when Tesla finally announced that the $35,000 Model 3 would be available to order. This news caused the internet to go crazy on this news as it would become the most affordable model in Tesla's lineup. But late this week, the Californian automaker made some changes to the Model 3 ordering process to "simplify vehicle choices and make Autopilot more affordable." On Thursday, Tesla said in a blog post that the $35,000 Model 3 - known as the Standard Range - would n
...If you want the mystical $35,000 Model 3, you're going to have to jump through some more hoops...
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In a surprising move today, three top officials from the Federal Trade Commission have come out against the laws that ban automakers like Tesla from selling their vehicles directly to consumers. Andrew Gavil, director of the FTC's Office of Policy Planning; Deborah Feinstein, director of the Bureau of Competition; and Martin Gaynor, director of the Bureau of Economics wrote in a blog piece on the FTC site that states the dealer franchise laws are a 'bad idea' since it doesn't allow consumers to
Three FTC Officials Call Out Dealer Franchise Laws On Direct Sales
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After much speculation, it has come to light that Apple did propose to bid on Tesla back in 2013 for $240 a share, higher than the sub-$200 a share Tesla is trading at today, according to CNBC. Analyst Craig Irwin told CNBC that there was a serious bid from Apple and says that multiple credible sources have told him so. Tesla is down more than 46% from its high in August 2018 when CEO Musk tweeted that he had funding secured to take Tesla private at $420 a share via a Saudi Soverign Wealt
...forcing Elon out was the deal-breaker...
- Editor-in-Chief
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In a deal announced late Saturday between Tesla and the Securities and Exchange Commission, Elon Musk will be stepping down as Chairman of Tesla Motors and barred from holding that position for 3 years. Additionally, Musk and Tesla will pay $20 million in fines each. As part of the settlement, Tesla will add two additional board members and more closely monitor Mr. Musk's public communications. Neither Tesla nor Mr. Musk admit wrongdoing as part of this agreement. The settlem
Resigns as Chairman, pays $20 million in fines.
- Editor-in-Chief
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If you happened to be perusing the Monterey, CA Craigslist this morning, you might have come across an interesting ad. Someone had posted an ad for a Tesla Model 3. The vehicle allegedly has about 2,000 miles on the odometer. Like many of Model 3s currently rolling off the production line, this is the long-range variant with a 310-mile range. Other features include a panoramic glass roof, upgraded sound system, and "Aero" wheels. The price? $150,000. Our favorite part of the ad is the
It could have been yours for a cool $150,000!
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If there is a trend at Tesla, it's that there's always more to the various stories. Case in point: On Friday night, CEO Elon Musk posted a piece on Tesla's blog saying that plans have been scrapped about taking the company private. "Although the majority of shareholders I spoke to said they would remain with Tesla if we went private, the sentiment, in a nutshell, was ‘please don’t do this,” Musk wrote. But what led him to this decision? Over the weekend, Bloomberg, The New York Times a
Understanding how this decision was reached
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Norway has been in the news lately and not just a little but across a wide range of news organizations. Norway has been very embracing of the move to EVs supporting just about every version that has come out from small EVs that would remind one of a Golf cart and illegal on the roads in the US to the luxury level of Tesla with the X and S auto's. Norway has even been leading the world in the change over of their countries taxi fleet to EVs. One benefit to the taxi owner is the ability
It is hard to judge a company by one month of auto sales let alone two months, but when you have 3 months or more in a market that had no competition and now does, dropping near the bottom in sales should make any CEO question what needs to be done to improve sales. Norway with 60.4% of new auto sales being EV is becoming a struggle for Tesla and Ford is the latest to show them up!
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After September 24th, Tesla will end production of the rear-wheel drive Model S 75. The model is the cheapest way to get into the Model S with a base price of $69,500. After the 24th, the Model S 75D with its dual motor AWD setup will become the entry-level model with a base price $74,500. This will leave the Model 3 as the only Tesla model that is available with RWD. This news was first broke by Electrek back in July, although no official end date was given. We can see a couple of rea
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