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Archive for the ‘Tesla’ Category

Tesla Faces a Stock Market Freefall Over Growing Model 3, Crash and Cash Flow Concerns

“Reality is setting in,” as shares fall by a third from 52-week high.

by on Mar.29, 2018

Tesla CEO Musk has repeatedly been caught missing production targets on vehicles like the Model 3.

Tesla stock is getting pummeled by investors over growing concerns about the company’s cash coffers, a crash that is raising serious concerns about its vaunted Autopilot technology, and the ongoing “manufacturing hell” at the automaker’s assembly plant in Fremont, California.

TSLA shares briefly crashed through their 52-week low Thursday morning before staging a modest rebound. But the once high-flying stock has clearly been wounded and is now running about a third below its 52-week high.

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“Reality is setting in,” said Joe Phillippi, head of AutoTrends Consulting, and a long-time Wall Street automotive analyst. Investors, he said, “were banking on increased earnings…once they got their manufacturing system fixed. It was going to be a no-brainer.”

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Tesla Shareholders Vote Yes on Musk’s $2.6B Compensation Plan

Total payout could exceed $55B if Tesla his all targets.

by on Mar.22, 2018

Tesla's shareholders approved the $2.6 billion compensation package for CEO Elon Musk.

Tesla Inc. shareholders told founder and CEO Elon Musk that they liked him, but not that they really, really liked him. Investors approved Musk’s compensation package by almost a 3-to-1 margin, which is lower than typical approvals.

The grant gives Musk $2.6 billion in stock options in 12 tranches, each of which vests as the company hits performance markers during the next 10 years.

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The electric vehicle manufacturer must meet certain value targets in order for Musk to receive additional shares of Tesla stock. There is no cash compensation in the deal, according to a Securities and Exchange Commission filing. (more…)

Uber Fatality Investigation Produces More Questions Than Answers

NTSB, NHTSA assisting in accident query.

by on Mar.22, 2018

The Tempe (Arizona) Police Department released the video footage of Uber's collision with a pedestrian.

The video chronicling the fatal accident between an Uber vehicle in autonomous test mode and a woman crossing a street with her bike has opened up a Pandora’s Box of questions for the ride-sharing giant and other companies looking to develop self-driving vehicles.

The first is, of course, how did the system not recognize her and take action to avoid the problem? The vehicle’s system had plenty of time to take action, but did nothing, eventually running over Elaine Herzberg, as she walked her bike across four lanes of traffic at night in Tempe, Arizona.

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“The video is disturbing and heartbreaking to watch, and our thoughts continue to be with Elaine’s loved ones,” Uber said in a statement. “Our cars remain grounded, and we’re assisting local, state and federal authorities in any way we can.” (more…)

Toyota Will “Pause” Testing of Autonomous Vehicles on Public Roads

Hyundai adding “caution” to its program; Boston mayor wants autonomous tests halted in city.

by on Mar.20, 2018

In light to Uber's autonomous vehicle killing a pedestrian, other companies are revisiting their testing plans and procedures.

Reaction has been quick in the wake of a fatal Phoenix crash involving a prototype autonomous vehicle operated by ride-sharing service Uber, at least one major automaker saying it will temporarily “pause” testing of its own self-driving vehicles on public roads.

Though police in the suburb of Tempe say preliminary evidence indicates the Uber-modified Volvo SUV was not at fault in the death of a pedestrian Sunday night, the incident has raised flags that could slow the race to put self-driving technology on the road.

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While Toyota issued a statement noting that it “cannot speculate on the cause of the incident or what it may mean to the automated driving industry going forward,” the automaker added in a statement that, “Because we feel the incident may have an emotional effect on our test drivers, we have decided to temporarily pause our Chauffeur mode testing on public roads.” (more…)

Tesla Struggling With Major Quality Issues

Current, former employees claim poor quality parts adding to delays.

by on Mar.14, 2018

Tesla's Fremont plant is churning out poor quality parts and vehicles, according current and former employees.

California-based EV maker Tesla’s ongoing struggles with two major problems – executive retention and manufacturing quality – reared their ugly heads again this week.

The company saw two high-level executives, Susan Repo, Tesla’s corporate treasurer and vice president of finance, and Eric Branderiz, chief accounting officer, leave the company within about a week of one another.

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Repo left to become the chief financial officer of another company and Branderiz left for personal reasons, according to reports. (more…)

VW Ups EV Ante as it Places $25B in Battery Orders

German giant now outspending rival Tesla.

by on Mar.14, 2018

VW plans to have 30 fully electric vehicles ready by 2025, including models based on the ID Buzz and ID Crozz concepts.

As it ramps up plans to sell at least 3 million electrified vehicles annually by 2025, Volkswagen has announced orders for $25 billion worth of batteries and battery components – dwarfing the spending plans of all-electric competitor Tesla.

Longer-term, VW said it plans to more than double that total as it prepares to offer some form of electrified drivetrain for every vehicle in its line-up – including dozens of all-electric models. It plans to roll out its first three long-range battery-electric vehicles this year, including offerings from its Volkswagen, Porsche and Audi brands. It also will launch a new sub-brand, Volkswagen I.D., which will include in its portfolio the all-electric Buzz, a modern take on the automaker’s iconic Microbus.

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Among all 12 brands in the Volkswagen Group family, CEO Matthias Mueller said that there will be new battery-powered models launched “virtually every month,” as the new program ramps up, adding that “This is how we intend to offer the largest fleet of electric vehicles in the world.” (more…)

Tesla Shut Down Model 3 Line – Again – to Make Upgrades

EV maker makes improvements aimed at increasing production speed.

by on Mar.12, 2018

Tesla shut down its plant in California last month to make upgrades to its production line.

Tesla’s ongoing growing pains moving from a low-volume to mass market manufacturer continue as the EV maker had to shut down its production on the Model 3 for a week last month.

The company temporarily suspended production at its Fremont, California plant as well as at its Gigafactory in Nevada, Feb. 20-24, to adjust equipment to improve automation and increase production rates.

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The automaker has been under fire for continually missing deadlines for increasing the production run rates at its plant. The goal is ultimately to produce 500,000 vehicles annually, including 100,000 Model S and X vehicles. The current rate is significantly lower than that. (more…)

Tesla’s Musk Wants Trump to Expand Trade War

"It's like competing in an Olympic race wearing lead shoes."

by on Mar.09, 2018

Elon Musk, was on Trump's economic advisory council until it disbanded over immigration policies.

In a rare show of pique aimed at President Donald Trump, automakers, suppliers and industry trade groups have all but unanimously voiced their disappointment over new steel and aluminum import tariffs.

The one notable exception has been Tesla CEO and founder Elon Musk who, despite claiming to be generally opposed to import tariffs, appears to be backing the White House. If anything, the tweet-happy executive is spurring Trump to take even broader action, specifically targeting China over the way it handles foreign-made cars, as well as foreign automakers who want to set up manufacturing operations in that country.

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“I am against import duties in general, but the current rules make things very difficult,” Musk said in a tweet. “It’s like competing in an Olympic race wearing lead shoes.”

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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.

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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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Jaguar I-Pace Pricing Undercuts Tesla Model X

British EV SUV will match base range but falls short on acceleration.

by on Mar.07, 2018

Jaguar now has three SUVs in its line-up, though only the I-Pace is electrified.

Jaguar’s first-ever battery-electric vehicle will start at $70,495 – including delivery charges — when it reaches U.S. showrooms later this year, about $9,000 less than the Tesla Model S.

The British maker is giving the public a first close look at its first-ever battery-electric vehicle at the Geneva Motor Show this week. The I-Pace will soon join Jaguar’s expanding list of sport-utility vehicles which also includes the conventionally powered F-Pace and E-Pace models.

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“We set out with a clean sheet approach to harness new battery electric technology with an architecture engineered from the outset to optimize EV performance, aerodynamics and interior space. The result is the I-PACE – a true Jaguar and a truly driver-focused EV,” Ian Hoban, Jaguar’s Vehicle Line Director, said during a media preview last week.

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