Detroit Bureau on Twitter

Posts Tagged ‘tesla news’

Tesla Wrestling With Challenges, Pressure from Plant Workers

Growing pressure on plant floor causing injuries, employee turnover.

by on May.19, 2017

Employees at Tesla's production facility in Fremont, California, complain of poor working conditions and injuries resulting from them.

While Tesla moves to push ahead with production of the Model 3, it is facing challenges inside its factory in Fremont, California, that include an increasingly restless workforce where turnover is high and complaints about on the job injuries are mounting.

The United Auto Workers has launched an organizing drive and pro-union have now filed multiple charges with the National Labor Relations Board, claiming they have been harassed for pro-union activity. Tesla has denied the charges.

News You Can Trust!

But Tesla also has been hit with complaints about working conditions inside the plant, which has also been turned into a giant construction site as the company’s founder pushes ahead with his bold expansion plans. Musk has even talked the Bay Area Rapid Transit authority about building a new station closer to the Fremont factory. (more…)

Tesla Bull Analyst Flipping to Bear

Concerns over fighting with tech companies causes rating change.

by on May.16, 2017

Morgan Stanley Analyst Adam Jonas switched from bull to bear when it comes to Tesla over concerns about potential battle with tech companies.

One of the Wall Street analysts that has been optimistic about the outlook for Tesla Motors’ stock has reversed course.

Adam Jonas, Morgan Stanley’s lead automotive analyst, has downgraded Tesla from Overweight to Equalweight with a price target of $305, suggesting a 6% downside on the company’s stock price from current levels.

Financial News!

The downgrade hurts Tesla because the electric-car company depends on the stock’s impressive valuation to help attract new investors. (more…)

Tesla Ripe for Takeover by Apple, Analysts Claim

CEO Musk sweeps aside idea saying it isn’t in the cards.

by on May.08, 2017

Tesla CEO Elon Musk says Apple makes fine phones and laptops, but acquiring the Palo Alto, California EV maker isn't going to happen.

Apple, despite the various challenges it might face, is sitting on nearly a quarter of trillion dollars, giving it ample resources to mount a takeover of virtually any company in the world and analysts at Citigroup. have concluded on the possible targets is Tesla.

Elon Musk, Tesla’s founder and CEO, brushed aside the speculation about a possible Apple-Tesla alliance, saying it wasn’t in the cards. “They make good phones and laptops,” noted Musk, adding he personally uses Apple products.

News Now!

But he shrugged off suggestions during the analysts call that followed the release of Tesla’s financial report for the first quarter in which losses grew by 40% even though the electric-vehicle company’s revenue doubled. (more…)

Tesla Trying to Tie Up Loose Ends With Old Grohmann Customers

EV maker searching for “individual solutions” for each company.

by on May.05, 2017

Elon Musk's insistence that Tesla Grohmann's resources be focused on the company's Fremont, California plant to ensure delivery of the Model 3 this summer.

Tesla continues to work on the issues cropping up at its Tesla Grohmann subsidiary in Germany, including how best to deal with the engineering unit’s non-Tesla customers, such as BMW, Volkswagen and Daimler.

How best to deal with these legacy customers is the root cause of the departure of the subsidiary’s former owner, Klaus Grohmann. Tesla acquired the former Grohmann Electronics late last year to help improve the California-based EV maker’s manufacturing operations.

Global News!

Grohmann specializes in “building the machines that build the machines,” Tesla CEO Elon Musk noted at the time. The intention was to have Klaus Grohmann staying to help oversee the transition and direct the work done for Tesla’s Fremont, California plant. (more…)

Musk Predicts Tesla Will Build 100K Model S, X in 2017

As financial losses grow, production and revenues climb faster.

by on May.04, 2017

Tesla CEO Elon Musk told analysts and reporters that the company will build more than 100,000 Model S and X units this year.

Tesla Motors’ losses increased by 40% during the first quarter, but Elon Musk, the company’s founder and CEO, hailed the fact that sales, revenue and production growth outpaced those losses: production was up by about 65% from last year’s first quarter to 25,000 vehicles and revenue doubled to $2.7 billion.

The Silicon Valley battery-carmaker reported a loss of $1.33 a share, significantly worse than the 81 to 83-cent loss various tracking firms had Wall Street trackers predicting. The company has turned a quarterly profit – using non-standard accounting – only twice since it went public.

Subscribe Now!

While Musk was quick to point out what is going right, it didn’t necessarily sway the investor community, which he has come to rely on in recent months. (more…)

Tesla Reports Bigger 1Q Loss Than Expected

But production hits record; revenues beat forecast.

by on May.03, 2017

Investors continue to drive up Tesla shares, betting on the success of the upcoming Model 3.

Despite record production and deliveries – and a surging stock price – Tesla managed to disappoint on Wednesday by reporting a bigger loss than analysts had been forecasting – though revenues for the first quarter of 2017 did manage to beat expectations.

The Silicon Valley battery-carmaker reported a loss of $1.33 a share, significantly worse than the 81 to 83-cent loss various tracking firms had Wall Street trackers predicting. The company has turned a quarterly profit – using non-standard accounting – only twice since it went public.

We're on the Beatt!

The news wasn’t entirely disappointing. Tesla’s revenues for the January-through-March quarter came in at $2.70 billion, about $90 million above expectations. Production, the company said, was up by 64%, year-over-year. And Tesla previously had reported that it delivered 25,051 vehicles during the quarter, an all-time record, with a target of 50,000 battery-cars for the first half.

(more…)

Elon Musk Lays Out “Boring” Plans for Ground, Space Travel

In Ted TalkIn Ted Talk, entrepreneur lays out plans for urban high-speed tunnel network., entrepreneur lays out plans for urban high-speed tunnel network.

by on May.01, 2017

The Boring Company would drill a network of tunnels across Los Angeles.

Few people would ever accuse Elon Musk of being boring. He is, after all, the founder of both Tesla and SpaceX, two companies determined to change the way we travel, both on the ground and in the air.

But Musk is apparently determined to be boring – or, more accurately, he is intent on getting into the boring business, his latest venture aimed at digging tunnels under Los Angeles and, perhaps, other cities where surface-level roads are so clogged that traffic often grinds to a halt.

Subscribe & Stay on Top!

What started out as a seeming joke is apparently no laughing matter for the South African-born entrepreneur. During a TED Talk last Friday, Musk outlined his plan to build a network of tunnels under L.A., some of them permitting 30 layers of vehicles to travel at speeds of up to 130 mph. The network could also include a path for Musk’s other revolutionary transportation concept, the Hyperloop.

(more…)

Grohmann Quits Tesla After Feud With CEO Musk

Leaves after disagreement over handling of previous customers.

by on Apr.27, 2017

Tesla CEO Elon Musk lost another top executive, Klaus Grohmann, after the two disagreed about how to handle Grohmann's now former customers.

As Tesla CEO Elon Musk continues to play whack-a-mole trying to eliminate potential roadblocks to getting the EV maker’s mainstream model, the Model 3, into production on schedule, there have been a few glitches.

The most recent being departure of Klaus Grohmann, who left last month after a clash with Musk. Grohmann was leading the company’s efforts to improve the “machines that build the machines” at Tesla.

The Inside Story!

The pair disagreed over Musk’s insistence on shedding long-time customers – and competitors to Tesla – from Grohmann’s company, which Tesla had acquired in November, according to Reuters. The carmaker wanted all of its new engineering subsidiary’s resources focused on bringing the Model 3 to market on time, with high quality and in large numbers: 500,000 units annually by 2018. (more…)

Consumer Reports Takes Another Swipe at Tesla Model S

Electric sedan downgraded over lack of emergency auto-braking.

by on Apr.26, 2017

Tesla says its Model S has standard Emergency Auto Braking, but it isn't active on some vehicles.

The influential Consumer Reports magazine has again downgraded Tesla’s Model S sedan, this time due to a lack of an important safety feature that was supposed to be included as standard equipment.

CR has downgraded Tesla products on several occasions, though past moves focused on quality concerns. This time, the magazine said, the Model S produced over the last six months did not have a working emergency auto-braking, or AEB, system, apparently because of a problem with software that was supposed to control an updated version of the AEB hardware introduced in October 2016.

Breaking News!

It’s the latest in a series of problems involving Tesla’s high-tech safety technology. Last week, Tesla was hit with a lawsuit claiming that its optional, semi-autonomous Autopilot system is “unusable and demonstrably dangerous.” Days later, the battery-carmaker announced a recall covering a parking brake problem affecting 53,000 vehicles.

(more…)

Tesla Doubling Up Number of Superchargers

EV maker planning to have 10,000 chargers by end of 2018.

by on Apr.24, 2017

Tesla says this is going to become a more common sight in 2017 as it plans to build another 5,000 Supercharging stations.

Tesla’s all charged up about the pending introduction of the Model 3 later this summer and to prove it, apparently, they’re making sure that more Tesla owners than ever will be able to charge up while driving America’s highways and byways.

The EV maker has more than 5,400 Supercharger stations worldwide and plans to nearly double that to 10,000 units by the end of 2017. In North America, the company pledged to increase the number of super chargers by 150%, including adding 1,00 0 Superchargers in California.

Tech News!

“As Tesla prepares for our first mass-market vehicle and continues to increase our Model S and Model X fleet, we’re making charging an even greater priority,” the company noted in its corporate blog. (more…)