Musk Tesla | TheDetroitBureau.com
Detroit Bureau on Twitter

Posts Tagged ‘musk tesla’

Tesla’s Musk Promises to “End Range Anxiety”

Big announcement scheduled for Thursday.

by on Mar.16, 2015

Tesla owners may no longer need to charge the Model S quite as often, CEO Elon Musk hints.

Could Tesla Motors be on the verge of a major breakthrough – one that eliminates the biggest concern people have about electric vehicles? That’s something the California carmaker’s CEO Elon Musk suggested is in the works.

“About to end range anxiety,” the South African-born executive tweeted on Sunday, promising to have a major announcement involving the maker’s Model S battery cars on Thursday morning.

Power to the People!

Range anxiety is the term used to describe the fear motorists have that they might run out of power before reaching their destination. And, along with the high price for battery vehicles, it’s seen as a significant obstacle to wider acceptance of the technology.

(more…)

Musk Hopes Patent Move Will Boost EV Sales

Developing cheap, long-range battery nearly as tough as going to Mars, says Tesla founder.

by on Jun.18, 2014

Tesla CEO Elon Musk during a recent TV appearance.

It’s a risky – some would say foolhardy – strategy, but by opening up the company’s patents to its competitors, Tesla Motors founder and CEO Elon Musk said he is hoping to stimulate completion in the battery-car market.

In a pair of television interviews, the South African-born entrepreneur also noted that he is looking to develop a cheap, long-range battery that will make it possible to produce a “compelling, mass-market” electric vehicle. But Musk, who also runs the SpaceX rocket company, admitted that goal is nearly as tough as sending a man to Mars.

Electrifying!

The list of companies that have tried and failed to break into the automotive market is long, Musk said during an interview with MSNBC’s Chris Hayes, adding that stimulating competition by giving away your patents, while unorthodox, is one way to encourage more competition – and investments — in battery-cars.

“If we succeed, it will help kick-start electric vehicle sales,” he said, noting that Tesla’s sales are expected to grow by almost 60% this year to 35,000 Model S sedans, compared with about 22,000 in 2013.

(more…)

Tesla Planning “90%” Autonomous Vehicle

“Not speculation,” says CEO Musk.

by on Sep.19, 2013

Tesla CEO Elon Musk adds another goal to his growing list of plans for the battery-carmaker.

With his Model S sedan winning raves for its cutting-edge battery powertrain technology, it’s no surprise that Tesla founder and CEO Elon Musk might want to be perceived as the leader in the development of another sci-fi to sci-fact technology: autonomous driving.

And the South African-born entrepreneur – who also runs aerospace firm SpaceX – suggests he’s going to leapfrog several other automakers who also are promoting self-driving cars.  That includes Nissan, whose Leaf remains the world’s best-selling battery-electric vehicle, ahead of the Tesla Model S.

Your High-Tech Auto News Source!

“We should be able to do 90% of miles driven within three years,” Musk says in an interview with the Financial Times.  Translation: he doesn’t think the technology is there for a completely autonomous vehicle that can handle all roads under all conditions, something he calls “a bridge too far.”

Nonetheless, if Musk can get Tesla out there by 2016 or so with a car that can handle major highways and roads in good weather that would still position it well ahead of what even his most ambitious competitors have been calling for.

Nissan, for example, announced last month that it will be in production with a fully autonomous vehicle by sometime in 2020.  General Motors’ Cadillac, Mercedes-Benz, BMW and others hope to have something similar in play by early in the next decade. So does Silicon Valley tech giant Google, which has been actively testing its own autonomous vehicle prototypes.

(Click Here for more on Nissan’s autonomous vehicle plans.)

Google officials don’t expect to build their own cars but hope to partner with some major manufacturer. It does not appear, however, that there’s anything going between Google and the also California-based Tesla.

What’s significant about Nissan’s earlier announcement is that the Japanese maker wants to offer its self-driving technology on an “affordable,” mainstream vehicle.  While it has not identified which model that might be, speculation has focused on the little Leaf battery sedan – which sells for a fraction of the price of the Tesla Model S. That model can go up to more than $100,000 with an extended-range battery pack.

Tesla, however, has indicated it is working on several new models, starting with the Model X – a crossover-utility sharing the Model S platform – and a smaller, lower-priced electric vehicle that would come a bit closer to the Nissan Leaf’s price.

(Automakers “democratize” technology, offering luxury-level hi-tech features in mainstream models. Click Herefor more.)

As Japan’s second-largest automaker has demonstrated, the technical basics are rapidly falling into place.  Even conventional vehicles now use an array of cameras, radar, sonar and laser sensors to let the latest safety systems keep on what’s happening nearby. And the price of those devices will continue to fall, experts predict, even as computing power continues its rapid increase.

Various prototypes now can be routinely seen on roads around the country, particularly in Nevada, the first state to create special licensing requirements for autonomous vehicles. But while Nissan really demonstrated a Leaf coping with simulated city and highway driving conditions, project co-director Maarten Sierhuis, a former NASA scientist, stresses that “We need to be able to drive any intersection anywhere and at any time to be fully autonomous.”

(What’s it like to drive…er, ride…er, co-pilot an autonomous vehicle? Click Here to find out.)

That helps explain Tesla’s more cautious strategy. In fact, autonomous driving proponents anticipate that for at least some years, someone will still be required to sit behind the steering wheel ready to assume command in a situation the vehicle can’t handle – perhaps in a winter white-out.

“It’s incredibly hard to get the last few percent,” cautions Musk

Nonetheless, the general consensus is that autonomous vehicles should be able to improve highway safety, reduce fuel consumption and emissions, and even improve utilization of roadways by allowing such cars to convoy, driving in packs mere feet from each other’s bumpers.

One of the big issues all makers are fretting about is liability. Despite the potential to save lives and reduce fender-benders, there is a well-founded fear that in the U.S., in particular, any accident involving an autonomous vehicle could wind up being blamed on the technology.

That led Nissan’s global product development chief Andy Palmer to tell TheDetroitBureau.com that the Japanese maker might introduce its first autonomous vehicle in a less litigious country and wait until it gets some relief from American lawmakers and regulators.

Tesla’s Elon Musk Sets off on an Excellent Adventure

Tesla founder heads cross-country for 5 days with 6 kids and 90 minutes a day for charging.

by on Sep.06, 2013

Musk and family intend to dispel range anxiety fears.

The company can’t build cars fast enough to supply demand, and investors can’t get enough, either, driving Tesla Motor stock up nearly six-fold since the beginning of the year. Nonetheless, founder and CEO Elon Musk clearly seems frustrated by critics who continue to focus on issues like battery range and charging times.

So, Musk is about to set out on a cross-country journey meant not only to give his family a vacation but to also help put an end to the issue of range anxiety – at least when it concerns the Tesla Model S.  By the numbers, the South African-born entrepreneur plans to spend six days driving 3,200 miles with five kids in tow.

The Last Word!

But the figures that really matter concern the estimated 90 minutes a day – or nine hours in total – that Musk expects to spend charging up his Model S sedan using the rapidly expanding network of so-called Supercharger stations Tesla is installing across the country.

“Should go long way in dispelling range anxiety worries,” tweeted Musk, an inveterate user of the Twitter service whenever he wants to reach fans and the media. “At 1.5 hrs/day, we will only ever need to charge when stopping anyway to eat or sightsee, never just for charging itself.”

(more…)

Tesla and Toyota to Develop RAV4 Electric Vehicle

A 2012 sale date is promised for the compact sport utility.

by on Jul.16, 2010

Toyota was testing and selling an electric version of the original RAV4 from 1997-2003.

Tesla Motors, Inc. (Tesla) and Toyota Motor Corporation (TMC) today announced that the two companies will start the development of an electric version of the RAV4, which will be available in the U.S. by 2012. 

The electric cute-ute will be made from the existing RAV4 with a Tesla electric powertrain substituted for the gasoline one. 

Tesla claims it will deliver prototypes to Toyota for evaluation within this year. The first prototype has already been built and is now undergoing testing. 

In May, Elon Musk of Tesla and Akio Toyoda of TMC announced their intent to cooperate on the development of electric vehicles, parts, and production system and engineering support. 

http://www.thedetroitbureau.com/about/subscribe

Electrons and IPOs!

Upstart Tesla wants to learn from Toyota’s engineering, manufacturing, and production expertise, while automotive superpower Toyota says it will learn from Tesla’s EV technology, quick decision-making and flexibility. 

Some industry insiders think that the joint program is nothing more than an image cleaning effort by Toyota after it shut its only unionized plant in the U.S. this past spring – New United Motors Manufacturing in Fremont, California. (See UAW Taking Aim at Toyota )

(more…)

Market Snaps Up Tesla Shares

Is EV maker the next Apple?

by on Jun.30, 2010

Now Wall Street has plenty riding on the Tesla Model S, too.

The first new automotive IPO in a half-century was greeted by the sort of exuberance seldom seen on Wall Street, these days, as investors charged in to grab shares of the California electric-vehicle manufacturer, Tesla Motors.

Despite a last-minute move to raise the opening price of its stock to $17, while also substantially upping the number of shares being offered, investors plugged in and were clearly turned on.  By the time the first day of trading ended, Tesla had jumped 40.5%, to $23.89.  And the upward momentum is continuing.  By midday Wednesday, shares had nudged past $28, another 20% gain.

http://www.thedetroitbureau.com/about/subscribe

A Good Investment...It's Free!

The initial public offering netted Tesla $226.1 million for 13.3 million shares.  The company had originally planned to put 11.1 million shares on the market – representing 12% of its equity – at a price range of $14 to $16.  (Click Here for more.) The news is particularly good for Tesla founder Elon Musk, who has invested a large chunk of his personal fortune, derived from his stake in the online financial service PayPal.  In recent weeks, Musk, who is going through a bitter divorce, let it be known that he is now broke.

(more…)

Tesla Ups Price, Volume of Initial Public Offering

Demand for stock in loss-making EV firm greater than expected. Initial stock offering closes up 40% from the asking price.

by on Jun.29, 2010

Tesla Motors founder Elon Musk, shown here .with the Tesla Roadster, at the Detroit Auto Show, January 2009

Tesla Motors founder Elon Musk at the Detroit Auto Show, January 2009.

 

Tesla Motors, Inc. (Nasdaq:TSLA), a manufacturer of electric vehicles and electric powertrain components, today announced its initial public offering of 13.3 million shares of its common stock at a price to the public of $17 per share. 

Tesla originally said it hoped to sell 11.1 million shares of stock, equal to 12% of the company, at a price range of $14 to $16. The increase reflects anticipated demand from investors hoping to cash in on electric vehicles. 

Tesla shares began trading at $19 a share this morning on the NASDAQ Global Select Market. Of the shares in the IPO, the company is offering 11,880,600 shares and 1,419,400 shares are being offered by selling stockholders. It closed at $23.89 – up more than 40% from the $17 asking price. 

In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional aggregate of 1,995,000 shares of common stock to cover over-allotments, if any. Tesla will not receive any proceeds from the sale of shares by the selling stockholders. 

Goldman, Sachs & Co., Morgan Stanley, J.P. Morgan and Deutsche Bank Securities are acting as the joint book-running managers for the offering. 

http://www.thedetroitbureau.com/about/subscribe

Stocks!

 

Tesla’s move to go public is the first IPO by a U.S. automaker in half a century, since Ford Motor in 1956. Analysts say a number of other electric vehicle manufacturers could enter the market if Tesla’s bid proves successful. EVs will be heavily subsidized by taxpayers under current legislation. And where Tesla’s stock will be trading a month from now as the hype subsides is questionable. 

(more…)

Tesla IPO Set for Tuesday Launch

Will offering charge up the market?

by on Jun.28, 2010

Would you buy stock -- or a car -- from this man? Tesla CEO Elon Musk at the unveiling of the maker's Model S battery car prototype.

Investors will have the chance to plug into the nascent electric vehicle market tomorrow when Tesla Motors launches its much-anticipated Initial Public Offering.

How the company will fare with the market remains to be seen.  On the one hand, Tesla is an early entrant into a market segment most experts anticipate will grow rapidly over the coming decades.  On the other hand, the California-based maker has been losing money since it was founded and expects to continue to do so for at least several more years while it prepares its first mainstream battery car offering.

http://www.thedetroitbureau.com/about/subscribe

Stay Charged Up With a Free Subscription!

Tesla’s move to go public is the first IPO by a U.S. automaker in half a century, though observers say a string of additional electric vehicle manufacturers could make moves into the market if Tesla’s bid proves successful.

(more…)

Tesla’s Elon Musk Goes Broke

Billions gone, Internet entrepreneur keeps going.

by on Jun.02, 2010

Brother, can you spare a billion? Tesla CEO Elon Musk shows off a prototype Model S at the Detroit Auto Show, last January.

Apparently, $1.5 billion doesn’t go quite as far as it used to – or so Elon Musk, the Internet entrepreneur and electric vehicle visionary, has discovered.

The South African-born Musk made $1.5 billion, a few years back, selling his share of the online Paypal service, then pumped a sizable portion of his fortune into Tesla Motors, the California-based electric vehicle maker, as well as SpaceX, a private rocketry firm.  But as Musk acknowledged in an interview with TheDetroitBureau.com, last year, the auto business is far more expensive than it initially might seem.

http://www.thedetroitbureau.com/about/subscribe

Subscribe Now!

And that is leaving him dependent upon the kindness of strangers, now that his fortune has largely run out, borrowing money from family and friends, according to various reports out of Silicon Valley.

Musk confirmed his financial problems in a court filing in which he stated, “About four months ago, I ran out of cash.”

(more…)

EV Maker Tesla Edges Closer to IPO

Founder Elon Musk also confirms plans for a Roadster replacement.

by on Apr.29, 2010

Tesla Motors founder Elon Musk, shown here with the Tesla Roadster, at the Detroit Auto Show, January 2009

The California-based electric vehicle manufacturer, Tesla Motors, is edging closer to an initial public offering, according to founder Elon Musk.

Musk also confirmed that Tesla is working on a replacement for its current 2-seat sports car, the Roadster, which will go out of production by 2012.  That timetable has been dictated by the British maker, Lotus, which supplies the chassis used by Tesla for its first production model.

“We hope to go public in a couple of months,” Musk said during a visit to Detroit, another company official noting that Tesla’s planned IPO has already gone through two rounds of reviews by the Securities and Exchange Commission since the company announced its interest in selling stock, back in February.

http://www.thedetroitbureau.com/about/subscribe

Charge Up!

Tesla has already formed an alliance with Daimler AG, which has purchased an 8% stake in the California start-up, and which will be using Tesla’s technology to power the new electric-powered Smart cars that will reach the market in the U.S. late this year or early 2011. Tesla has other projects underway with Daimler and is also discussing possible alliances with two other automakers, Musk said.

(more…)