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Posts Tagged ‘tesla news’

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…)

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…)

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.”


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.


Armormax Tesla: Faster Than a Speeding Bullet, Can Stop One Too!

International Armoring Co. produces world's fastest bulletproof car.

by on Feb.26, 2018

The Armormax Tesla Model S P100D is bulletproof, but by adding just 550 pounds, it allows the vehicle to perform normally.

Tesla founder and CEO Elon Musk may or may not have hinted around that the Model S P100D is faster than a speeding bullet, but now thanks to International Armoring Corp., it doesn’t have to outrun the slug, it can stop it.

International Armoring and several other companies have been taking high-priced luxury vehicles, such as Mercedes-Benzes, BMWs, Cadillacs and more, for the well-heeled who have security concerns and adding ballistic protection and other security technologies for decades.

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So it was only a matter of time before a Tesla found its way into the Ogden, Utah-based company’s hands. It has been armoring vehicles for 25 years. (more…)

Tesla Loses Big Money in 2017: $1.96B

Model 3 production issue escalate expenses, offsetting record revenues.

by on Feb.07, 2018

Production of the new Model 3 has run into some snags, according to Tesla.

Tesla reported its revenues rose in the final quarter of 2017 to $3.3 billion, which was better than last year’s Q4 result of 2.3 billion. However, the increased revenue also brought a bigger loss of $675 million, or 4.01 a share, compared with $619 million, or $3.70 a share.

For the full year, revenue rose 55.7% to $11.7 billion due in large measure to achieving record sales results for its Model S and X electric vehicles; however, the company still lost money for the year and is well behind early production goals for the Model 3.

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The company lost $1.96 billion, or $11.83 a share, this year compared with $694 million, or $4.68 a share, in 2016 as its operating expenses were nearly double from the year-ago figure. (more…)

Tesla’s Roadster is a Rocket — Or At Least Attached to One

SpaceX uses first-gen Roadster as ballast for test flight.

by on Feb.07, 2018

It wasn't enough to put cement in the capsule on the Falcon Heavy rocket from SpaceX. Elon Musk stuffed a first-gen Tesla Roadster i

It will be a few years before anyone gets to buy the new Tesla Roadster, but you might say it got off the ground in a big way this week.

In a move combining elements of P.T. Barnum and Werner von Braun, SpaceX staged the first flight test of its new Falcon Heavy rocket on Tuesday. The world’s most powerful rocket may soon be used to ferry NASA astronauts to the International Space Station and, if SpaceX founder and CEO Elon Musk has his way, eventually to Mars.

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Never shy about putting on a show, Musk wound up turning an otherwise routine test flight into an event creating an image touching on two iconic pictures from the Apollo era: Earth rise from lunar orbit and Neil Armstrong making the first walk on the moon. (more…)

Tesla Denies Reports of More Model 3 Production Snags

Slow ramp-up expected to yield weak earnings for Q4.

by on Jan.26, 2018

Tesla CEO Musk had high hopes for Model 3 when it was unveiled at this splashy event.

Tesla is denying reports that it continues to face major manufacturing issues delaying the critical ramp-up of Model 3 production, an issue that could lead to a serious cash crunch in the months ahead.

The automaker launched its first mainstream, long-range model last July, but what CEO Elon Musk described as “production hell” resulted in serious delays last year, and according to new reports , production isn’t accelerating nearly as quickly as Musk and other senior executives had promised. Some of the biggest issues, according to company insiders quoted by CNBC, involve the Gigafactory plant in Nevada that produces batteries for the Model 3.

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For its parts, Tesla is describing the report as “extremely misinformed and misleading,” and a statement added that, “To be absolutely clear, we are on track with the previous projections for achieving increased Model 3 production rates that we provided earlier this month.” (more…)

2 Fed Safety Teams Head to California Tesla Crash Probe

Was drive using Autopilot when Model S crashed into fire truck?

by on Jan.25, 2018

An LA TV station caught the aftermath of a crash involving a Tesla Model S and a firetruck.

Two separate teams of federal safety investigators have been dispatched to California to examine what happened when a Tesla Model S crashed into a firetruck on a suburban Los Angeles freeway on Monday, the agencies aiming to find out if the incident happened while the battery sedan was operating in semi-autonomous Autopilot mode.

This marks the second time both the National Highway Traffic Safety Administration and the National Transportation Safety Board have examined a Tesla crash to see if the maker’s self-driving technology may have malfunctioned.

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In the first case, 40-year-old Joshua Brown was killed in a Florida crash in May 2009 when his Model S failed to stop when a semi-truck turned in front of it. The former Navy SEAL was ruled at least partially at fault for failing to take evasive action, but the NTSB also determined that flaws in the design of the Tesla Autopilot system contributed to the crash.