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Posts Tagged ‘tesla model 3’

Tesla Hopes to Charge Up with $1B Stock Offering

Wall Street growing increasingly jittery ahead of Model 3 launch.

by on Mar.16, 2017

Tesla CEO Elon Musk plans to buy the first $25 million worth of shares from the company's new $1B offering.

Running out of juice just as it prepares for the most important product launch in its short history, Tesla is once again going to the well, hoping to raise $1 billion through a new stock offering.

The announcement comes just weeks after founder and CEO Elon Musk revealed a dim fourth-quarter earnings report and warned that the battery-carmaker was “getting very close to the edge” in terms of its cash reserves.

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The latest stock offering, which comes less than a year after Tesla’s previous turn to the market, is meant to “reduce any risks associated with the rapid scaling of (our) business due to the launch of Model 3, as well as for general corporate purposes,” the company said. (more…)

Tesla Will Now Charge to Supercharge

Maker also announced purchase of German engineering firm to help boost production capacity.

by on Nov.08, 2016

A Tesla Supercharger station in Hawthorn, CA.

There’s no such thing as a free lunch – or free energy, it seems. Tesla Motors plans to stop offering unlimited use of its cross-continent network of high-speed Superchargers to anyone who buys one of its vehicles after January 1, 2017.

The system, which currently includes 734 chargers worldwide, most in the U.S. and Canada, allows motorists to travel long distances without range anxiety. Until now, they have been open to any Tesla owner at no charge. The battery-carmaker hasn’t said what it will now charge new buyers but claims it will “cost less than the price of filling up a comparable gas car.”

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Tesla had already signaled it would not include free charging for buyers of the Model 3, which is expected to go into production during the second half of 2017. The company says it now has more than 300,000 advance registrations on the books. And to help ensure it meets the aggressive production ramp-up outlined by CEO Elon Musk last March, Tesla is now buying Grohmann Engineering, a German firm that develops automated manufacturing systems for batteries.

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Chevrolet Gets a Jump as Bolt Production Begins

Sales set to begin before year-end.

by on Nov.07, 2016

A prototype Chevrolet Bolt rolls down the line at the GM plant in Orion Township, Michigan.

The line is moving at a snail’s pace, but production of the Chevrolet Bolt is finally ramping up at the General Motors assembly plant in the Detroit suburb of Orion Township, with the first of the new, long-range battery-electric vehicles, or BEVs, set to go on sale before the end of the year.

Parent General Motors is hoping that it can steal a march on a variety of competitors, notably Tesla Motors, who hope to get their own long-range electric vehicles into showrooms over the next several years. With regulators in the U.S., Europe, Japan and China pushing the industry to expand sales of zero-emissions vehicles, the Bolt could provide the first real test of a vehicle designed to overcome so-called range anxiety.

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But whether motorists will take to the $37,495 Chevy Bolt – or any of the other, more mainstream BEVs to follow is far from certain. Fully electric models have accounted for just 0.4% of the U.S. market so far this year. Adding in plug-ins and conventional hybrids, battery-based vehicles still only make up a miniscule 2.5%.

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Long-Skeptical Toyota Reversing Course on EVs

Pressure from China and the U.S.; hydrogen infrastructure “isn’t there.”

by on Nov.07, 2016

Toyota worked with Tesla to develop the RAV4 EV it sold from 2012 to 2014.

Long focused on hydrogen fuel-cell technology, Toyota Motor Co. is reversing course and will now make a push into long-range battery-electric vehicles, according to several sources.

The move would add the Japanese giant to the list of manufacturers looking to market vehicles that get more than 200 miles per charge. A senior source within the company told TheDetroitBureau.com that Toyota will continue to work on hydrogen power, but he acknowledged the necessary “infrastructure isn’t there,” leaving the company no alternative if it hoped to meet stringent new emissions and mileage regulations.

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“China has been pressure Toyota,” the source said, noting that the Asian nation has been aggressively promoting electrification as a way to address its endemic smog problems. U.S. regulators and clean advocates are also calling on Toyota to deliver battery cars, he said, adding, “That’s the big change for us.”

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Fisker Reveals Emotion EV and Possibly Game-Changing Tech Specs

Could ultracapacitor system obsolete battery technology?

by on Nov.01, 2016

The Fisker EMotion could be in production by some time later next year.

If at first you don’t succeed…if you’re Henrik Fisker, it seems, you try and try again.

Best known for the sleek and iconic Aston Martin DB9, Henrik Fisker has attempted to launch two car companies since going out on his own a decade ago, including the ill-fated Fisker Automotive, the Danish designer is about get back into the business with a new pure battery-electric vehicle that could go beyond just being a Tesla-fighter. If the newly released images and specs prove accurate, the Fisker Emotion could rewrite the rules for the zero-emissions segment.

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Beyond the car’s sleek design, the real breakthrough appears to be an alternative to the lithium-ion batteries used in most of today’s battery-based vehicles. Instead, the Emotion will use an ultracapacitor to store enough energy, the start-up claims, to run a “theoretical” 400 miles per charge.

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More Trouble for Tesla: Consumer Reports Trashes Reliability

Model X rated “sixth least reliable vehicle” in latest owner study.

by on Oct.25, 2016

Tesla's Model X has had a series of major quality problems, especially with the falcon doors.

Already facing growing concerns about quality issues with its newest electric vehicle, the Model X SUV, Tesla Motors was hammered by influential Consumer Reports magazine this week, the non-profit publication ranking the California carmaker 25th of 29 brands in its annual automotive reliability study.

It wasn’t all bad news. After faring poorly in the 2015 auto survey, CR said the Tesla Model S actually had “improved reliability.” But the newer Model X “has a long way to go,” with a variety of issues including balky falcon wing doors, locks, latches and other systems.

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The Model X is “the sixth least reliable vehicle in our survey, and there are some monumental challenges with that vehicle,” Jake Fisher, Consumer Reports’ director of automotive testing, said during an appearance before the Detroit Automotive Press Association. “It’s unclear,” he added, “whether they will get the ‘falcon wing’ doors right ever.”

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Tesla Warns of Slow Model 3 Deliveries.

Bad news for Tesla could be good news for Chevrolet’s new Bolt.

by on Oct.19, 2016

Tesla still hopes to have the first Model 3 sedans in production during the 2nd half of 2017.

Looking to buy one of Tesla’s new Model 3 battery-cars? You can look for a long wait.

Those who put in an early reservation for the carmaker’s first mainstream model might yet get a Model 3 delivered before the end of next year, Tesla now says more recent orders won’t be fulfilled until 2018. And some analysts questions whether the company will even meet that goal, considering its history of missing targets with new products.

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That could be good news for Chevrolet, however. The Detroit maker expects to start delivering the first of its own affordable, long-range electric vehicles before year-end, and battery supplier LG Chem said this week that it believes there will be demand for as many as 30,000 Chevy Bolt EVs in 2017.

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Tesla Set to Reveal “Unexpected” New Product

Musk also says there is no need to raise more cash.

by on Oct.10, 2016

Tesla CEO Elon Musk with an image of the troublesome Model X which missed production targets, is unveiling a new product on Oct. 17.

Even as it moves forward on the development of its first mainstream product, the Model 3 sedan, Tesla Motors CEO Elon Musk says the battery-carmaker will lift the covers on an all-new product on Oct. 17.

Musk, a savvy user of social media, suggested in a Monday morning tweet that the new battery-electric vehicle will be “unexpected by most,” but offered no other clues as to what is in store.

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In recent months, Musk has dropped a variety of hints, along with broader indications, as to what he would like to see in the Tesla line-up in the years ahead. That includes a crossover-utility vehicle to complement the downsized Model 3, and even a battery-electric pickup. The Tesla founder has already confirmed that an all-new version of Tesla’s original product line, the Roadster, is in the works. (more…)

Fisker Launching All-New Battery-Car Company

Breakthrough battery promised; range could top 400 miles.

by on Oct.04, 2016

Henrik Fisker shown in Geneva before his earlier company, Fisker Automotive, collapsed.

If at first you don’t succeed…

If you’re Henrik Fisker, it seems, the next step is to start yet another car company. Three years after the collapse and bankruptcy of his original effort, Fisker Automotive, the Danish designer is back in business. The new Fisker, Inc. plans to launch a new line of long-range electric vehicles that will rival the likes of upstart Tesla Motors, as well as the more mainstream manufacturers now pushing into the battery-car business.

While specific details are limited, Fisker said the company is targeting a minimum range of 400 miles per charges, something that would allow a driver to go even further without interruption than with all but a handful of gasoline or diesel-powered vehicles.

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“This is really the revival of the original Fisker, though it will be a completely new company,” the 53-year-old automotive veteran told TheDetroitBureau.com in an exclusive interview.

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Chevy Prices New Bolt EV at $37,495, Under $30k After Tax Credits

Maker beats Tesla Model 3 on range and availability.

by on Sep.20, 2016

Chevy says its 2017 Bolt EV will come in at $37,495 or just under $30k with government tax credits.

Chevrolet released the price on its new Bolt electric vehicle, coming in under the $37,500 before tax incentives executives had been suggesting for months: by $5. The new EV costs $37,495.

After the aforementioned government sweeteners, the Bolt will cost $29,995, according to Chevy officials. The new battery-powered car is the first to market for less than $30k with the ability to travel more than 200 miles on a single charge.

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The new Bolt will go 238 miles, which means it tops its chief competition in two ways: distance and availability. (more…)