Tesla
116 articles in this category
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Tesla announced the evening of March 6th 2019 that Version 3.0 of their supercharging network would roll out across the globe and be in place by the end of calendar year 2019. With the growth of the global market and to support a ever growing base of Tesla 3 owners and the upcoming new products, charging needed to get faster to reduce wait times by their customers. As such. V3 Supercharging was born out of Tesla's experience with the world's largest grid connected batteries enabling Tesla to sur
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Tesla announced that beginning today, the standard version of the Model 3 with a base price of $35,000 is available for order. The base Model 3 has a top speed of 130 mph and a 0-60 time for 5.6 seconds. Additionally, Tesla will be introducing a Model 3 Standard Range Plus with 240 miles of range, top speed of 140mph, 0-60 of 5.3 seconds, and some interior upgrades for $37,000 before incentives. Tesla claims that these upgrades give customers 9% more range for 6% more money. Existing Mode
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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
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Following a dismal fall in sales in the previous two quarters, Tesla has sacked several dozen employees in stores in Chicago, New York, and Tampa last week according to a report in Bloomberg. These cuts are the latest in a series of cuts to Tesla's retail staff that Tesla had announced earlier in the year. At first, Tesla had announced it would close most of its retail locations and moving to an entirely online retail model. They later changed course and dialed back the reductions with the cav
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We reported earlier in April that Tesla was preparing more efficient versions of their Model S and Model X. Yesterday Tesla announced improvements to the Model S and Model X Long Range models that will increase range to 370 miles and 325 miles respectively, based on EPA testing cycle. The vehicles will still use the same 100 kWh battery pack. Unfortunately, customers will only get this upgrade when they purchase a new vehicle. The upgrade changes the drive hardware to the latest version
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The tweet that has become Elon Musk's version of Pandora's Box has brought forth a lawsuit from the Securities and Exchange Commission (SEC). Today, the SEC accused Musk of securities fraud when he tweeted that he had the funding secured to take Tesla private back in August. "Musk knew or was reckless in not knowing that each of these statements was false and/or misleading because he did not have an adequate basis in fact for his assertions," the SEC wrote in a complaint filed in Manhattan
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We have to wonder if Tesla CEO Elon Musk regrets posting this tweet as the Justice Department has opened an investigation into the company. Bloomberg has learned from two sources that federal prosecutors opened a fraud investigation into the company after Musk's tweet sent shares soaring. This follows an inquiry by Securities and Exchange Commission into whether or not Tesla had issued "misleading pronouncements on manufacturing goals and sales targets." The investigation is in th
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Tesla unveiled their newest addition to their lineup, the Tesla Model Y, last night at an event in Los Angeles. The Model Y is a crossover based on the Model 3 platform but is large enough to carry 7 adults. Inside, the high seating and panoramic roof lend a feeling of spaciousness. A front trunk and split folding second-row seats provide a total 66 cubic feet of storage. Like on the Model 3, accessing the Model Y works from a connection to the driver's smartphone. The Tesla Mobile App c
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According to sources familiar with Tesla software, Tesla is preparing to update the Model S and Model X with new, more efficient motors. Recent software updates have appeared that make reference to the new motors. The new motors with the codename "Raven", are permanent magnet reluctance motors as found in the Model 3. These motors have the benefit of pre-excitation from the magnets giving them an efficiency advantage. They also work to reduce the overall costs of the vehicle. In the Mode
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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
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Tesla is seeking to raise nearly $2.7 billion to add to its sagging balance sheet according to a filling. It would offer 3.5 million shares priced at $243 per share and a $1.6 billion convertible debt. Elon Musk will be buying $25 million in shares and currently owns around a 20 percent stake in the company. Wall Street seemed to find this capital raise promising as it boosted shares 1.5% before the opening bell. Analysts were calculating that Tesla, which burned $1.5 billion in Q1-2019 a
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Tesla posted a $722M loss for the first quarter of 2019, higher than analysts expectations. This was a swing from a 4th quarter 2018 profit of $139.5M. Cash on hand is $1.5B lower than end of 2018, now $2.2B, partially due to a one time payment of $920M in convertible bonds that came due. Tesla says that is built 63,000 model 3s in the first quarter gearing up for overseas sales, though only 12,100 of those vehicle were delivered. Tesla is maintaining its projections of 360,000 to 400,000
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After seeing its sales slide during the first quarter of this year, Tesla needed to come up with an incentive to help boost sales of the sagging Model-X and Model-S. In that effort, Tesla is returning the offer of free SuperCharging on all Model-S and Model-X sold. The plan was last offered in 2018 and then ended after Elon Musk called the plan unsustainable. Telsa has been making changes to their lineup and pricing almost monthly since the beginning of 2019, so this could be a short te
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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
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Over the weekend, Tesla CEO Elon Musk commented on Model Y production. Originally thought to be slated for production at Tesla's Gigafactory in Nevada, Tesla appears to have changed course. Reported by Bloomberg, Musk said "Right now our default plan is to produce the Y at Fremont." during an interview on the "Ride the Lightning" podcast. "I was skeptical about whether this made sense at first, but my team convinced me the fastest way to get volume production is to do the Y at Fremont."
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The Tesla Model 3 nearly broke into the top 10 best selling vehicles in Europe for September 2019, missing the mark by just 217 units. Overall, sales growth in the EU is strong with 14 markets reporting positive numbers. Germany came in at 9.1 percent and Italy came in at 6.5 percent. Battery electric vehicles were up sharply, increasing 119 percent, of which Tesla controlled nearly 50% of that number. Total Tesla registrations were 19,500 out of the 40,700 BEVs registered. That put the Tes
