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Archive for the ‘Tesla’ Category

Musk Apology Underscores Increasingly Erratic Behavior

"Do you think I'm insane?"

by on Jul.18, 2018

Tesla CEO Elon Musk has come under increasing fire for comments made in recent months.

Tesla CEO Elon Musk has issued an apology for calling one of the divers involved in the rescue of a soccer team caught in a Thai cave a “pedo,” shorthand for pedophile.

The overnight tweet marked one of the rare times the South African-born executive has retreated from what have become increasingly erratic and aggressive comments that, in recent months, have taken aim at journalists, Wall Street analysts, regulators, and even the victim in a fatal crash involving one of Tesla’s battery-electric vehicles.

Beyond the Headlines!

Musk, much like President Donald Trump, has become a regular user of Twitter, developing a broad audience and a loyal fan base for himself and for his company. But as with the president, some of Musk’s tweets have begun raising eyebrows and this week’s attack on diver Vernon Unsworth caused collateral damage to Tesla’s stock which tumbled when Unsworth threatened to sue the eccentric billionaire.

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Electric Polestar 2 “Five-Door Coupe” Will Deliver 350 miles Range, 400+ HP

All-electric Polestar 3 SUV already in the works.

by on Jul.17, 2018

The Volvo 40.2 Concept hints at what's coming with Polestar's first all-electric vehicle.

Volvo’s performance electric brand is getting ready to charge into the market with two additional models over the next two years, starting with the all-electric Polestar 2 which, a senior official claims, will deliver range of up to 350 miles per charge.

And, in keeping with the mandate of the brand – which traces its roots back to the track – the Polestar 2 “five-door coupe” will deliver around 405 horsepower, according to the brand’s Chief Operating Officer Jonathan Goodman. That figure might actually underplay the potential performance of the all-electric offering, as battery-electric vehicles can deliver incredible off-the-line performance because they punch out maximum torque the moment their motors start spinning.

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The Polestar 2 is expected to share the same underlying Compact Modular Architecture, or CMA, as the new Volvo 40-Series line-up. That was an obvious choice considering Volvo itself is planning to offer electrified versions of all future models and the CMA, its newest platform, was designed specifically to allow mounting a large battery pack under the load floor.

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Tesla CEO Musk Lashes Out at British Diver in Latest Round of Odd Behavior

Twice calls diver a "pedo," slang for pedophile.

by on Jul.16, 2018

Tesla CEO Elon Musk called one of the divers that found the Thai boys soccer team trapped in a cave a pedophile.

The wild ride that has been Tesla founder and CEO Elon Musk’s behavior took another odd turn over the weekend as he got into a twitter fight with one of the divers who helped rescue the Thai boys soccer team from a flooded cave last week.

Musk called one of the British divers who discovered the boys a “pedo,” slang for pedophile, not once, but twice in a series of angry tweets after the diver dismissed his interest in trying to help save the boys with a small submarine as a publicity stunt.

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“He can stick his submarine where it hurts,” Unsworth told CNN. (more…)

Tesla Tops 200,000 US Sales; Set to Lose Fed Tax Credits

Being 1st could put EV maker at a disadvantage going forward.

by on Jul.13, 2018

Even when it wins, it loses. Tesla just passed the 200,000 vehicle mark, the most ever by an EV maker, but that brings to an end the tax credit.

Tesla is not just the country’s best-selling EV maker, but the first to sell more than 200,000 electric vehicles in the U.S. market. But that might not necessarily give the carmaker reason to celebrate.

Under guidelines set up by the Obama Administration and retained by Congress as part of last year’s tax overhaul, federal tax credits of up to $7,500 per vehicle apply only on the first 200,000 battery vehicles sold by an individual manufacturer. After that they begin to phase out, meaning that Tesla could be at a financial disadvantage once the company loses the incentives entirely by the end of next year.

The Last Word!

Other companies, including General Motors, Nissan and Ford, are approaching the threshold but their buyers will likely continue to receive some incentives well into 2020, barring any move by Congress – something considered unlikely – to extend the tax credits. (more…)

Whistleblower Alleges Tesla Has Misled Investors

SEC received tip from former employee Tesla accused of “sabotage.”

by on Jul.12, 2018

Former Tesla employee Martin Tripp recently told the SEC that Tesla officials are lying about production numbers.

Former Tesla employee Martin Tripp has submitted a tip to the Securities and Exchange Commission accusing Tesla of both misleading investors and allowing potential dangerous vehicles to be sold to consumers.

Until about a month ago, Tripp worked at the Tesla Gigafactory battery plant in Reno, Nevada, but he was fired and subsequently accused by the automaker of committing sabotage in a lawsuit Tesla filed in federal court.

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The lawsuit and subsequent tip to the SEC stand to create some havoc for Tesla at a time when the automaker has been hoping to calm the concerns of analysts and investors who have been worried about the slow ramp-up of the critical Model 3 battery-sedan. (more…)

Tesla Set to Move on New Plant in Shanghai, Announcing Deal Even as it Raises Chinese Prices

Battery-carmaker is 1st from U.S. to raise prices as trade war escalates.

by on Jul.10, 2018

Tesla's new Shanghai plant is expected to be at least as large as its factory in Fremont, California - and include battery production, as well.

(This story has been updated with new information.)

Pres. Donald Trump’s trade war has claimed its first automotive victim, Tesla announcing it will raise prices on some models on sale in China by $20,000 or more to reflect the impact of new tariffs on American-made vehicles.

At the same time, CEO Elon Musk is on his way to China, numerous reports indicating Tesla is set to lock down a deal with authorities in Shanghai to set up the company’s first foreign assembly plant. Musk confirmed construction will begin in about three months and the facility will produce 500,000 vehicles annually once it is ramped up to full production.

Breaking News!

Despite the news about tariffs – which could depress sales in the world’s largest battery-car market in the near-term – investors appear to be buoyed by reports that Tesla will move forward on a Chinese assembly plant. Musk has also indicated that the automaker is working on plans to set up a second foreign plant somewhere in Europe.

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Wall Street Souring on Tesla

A good week gone bad.

by on Jul.09, 2018

Tesla CEO Elon Musk is promising the company will be in the black by the third quarter.

What was supposed to be a great week for Tesla turned out to be anything but, with analysts and investors largely ignoring CEO Elon Musk’s jubilant announcement of hitting the company’s production target, instead turning increasingly bearish amidst a sharp stock sell-off.

The roller-coaster ride could continue during the next few weeks as Wall Street waits to see what Tesla will report when it releases its second-quarter earnings announcement. The company delivered record losses during the first three months of this year and is expected to remain deep in the red through the end of June. The longer-term question is whether Tesla’s rising production of the critical Model 3 battery-sedan will finally translate into the black ink and positive cash flow Musk has repeatedly promised.

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For now, however, it appears that a growing number of analysts aren’t particularly optimistic. Of the 31 analysts who cover Tesla shares, 10 now offer “sell” guidance, nearly one in three. A roughly equal number list TSLA shares as “hold,” with only a third now recommending investors “buy.” It is rare, according to the Bloomberg news service, for analysts to go with a “sell” rating, most signaling displeasure with “hold” guidance. (more…)

EV Sales on the Rise in First Half of 2018 in the US

Bolt sales are up in first half, production to increase.

by on Jul.05, 2018

Sales of the Chevy Bolt rose 3.5% in the first half of 2018.

Rising gas prices and improved range appear to be creating an appealing environment for plug-in electric vehicle sales with no company reaping better results than General Motors in the first half of the year.

The company’s Chevy Bolt EV saw sales rise during the second quarter of the year.

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U.S. and global demand for the Chevrolet Bolt EV has been very strong in 2018, with global sales estimated to be up more than 35% year over year in the second quarter and up more than 40% in the first half. (more…)

Every Car Sold in the U.S. is an “Import”

Tariffs would impact even “American-made” vehicles.

by on Jul.03, 2018

The Honda Odyssey is one of the most "American" cars but will still be hit by tariffs.

Every single car, truck or crossover sold in the U.S. would be affected by the 25% import tariff being proposed by Pres. Donald Trump, with prices on some models rising by tens of thousands of dollars.

That’s because even vehicles assembled in the U.S. rely on some level of imported parts and components, whether in their suspension, infotainment systems or powertrains.

Beyond the Headlines!

Complicating matters, American-made auto parts and vehicles could become more expensive, and lose their competitive edge, if trade partners enact their own tariffs in response, something a number of them have now threatened to do.

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Musk Claims Tesla Hit Production Goal

Tesla now “a real car company.”

by on Jul.02, 2018

"We did it," proclaimed Tesla's Elon Musk in an email to employees regarding Model 3 production.

“We did it,” Tesla CEO Elon Musk proclaimed in a weekend e-mail to employees, declaring that the struggling automaker had hit its target of producing 5,000 Model 3 battery sedans in a single week, making it “a real car company.”

Though actually a fair bit less than what Tesla had hoped to be doing by now, nearly a year after its first mainstream electric vehicle went into production, it nonetheless marks a significant milestone and a sign that the company is finally working its way out of what Musk had described as “production hell” at its Fremont, California assembly plant.

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“We either found a way or, by will and inventiveness, created entirely new solutions that were thought impossible,” the South African-born executive said in an e-mail sent just days after he spent his 47th birthday at the Tesla plant overseeing efforts to speed up production. (more…)