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Posts Tagged ‘tesla news’

Tesla Model S Was in Autopilot at Time of Crash

Driver repeatedly took hands off the wheel.

by on May.17, 2018

The NTSB is investigating a third crash involving a Tesla vehicle using Autopilot at the time of the collision.

A Tesla Model S sedan that crashed into the back of a fire truck in Utah last week was operating in semi-autonomous Autopilot mode, the battery-electric automaker has confirmed, though the company has also tried to shift blame to the 28-year-old driver by noting that she repeatedly took her hands off the wheel and admitted being distracted immediately before the crash occurred.

The incident is the latest in a series of accidents involving Tesla vehicles in the U.S. and abroad and could raise new concerns about the safety of the automaker’s products – especially those using Autopilot which Tesla CEO Elon Musk has hailed as a potentially life-saving feature.

Safety News!

The latest crash occurred when a Model S slammed into a parked fire truck at around 60 mph. The female driver suffered a broken foot. She subsequently told authorities that she was driving in Autopilot mode. Tesla engineers on Wednesday accessed the vehicle’s black box and confirmed that statement, though they also revealed that the driver had taken her hands off the wheel for as much as 80 seconds immediately prior to the crash. (more…)

Tesla’s California Plant Shutting Down for Six Days

Soros buys $35 million in convertible bonds.

by on May.16, 2018

Tesla CEO Elon Musk plans to shut down the Fremont, California plant for six days later this month.

Tesla CEO Elon Musk isn’t just sleeping on the plant floor at the company’s Fremont, California plant hoping a solution to increase Model 3 production will come to him by osmosis — he appears to be trying.

Just a days after changing the company’s management structure to improve communication, he’s going to shut the entire plant down for six days at the end of this month to make changes with the goal of increasing production of Tesla’s first “mainstream” car.

EV News!

Earlier, the EV maker warned the plant would shut down for a total of 10 days to tackle manufacturing issues at the site. The issues have put Model 3 production well behind schedule, angering some who plunked down deposits and irritating shareholders and analysts. (more…)

Tesla’s Musk Orders “Flattening” of Management Team as Problems with Safety, Manufacturing Mount

Newest crash also linked to Tesla’s Autopilot system.

by on May.15, 2018

Tesla's Elon Musk "flattened" the company's management structure to improve communications.

Facing increasing problems that have raised concerns about both Tesla’s technology and manufacturing operations, CEO Elon Musk has ordered a shake-up of the company’s management structure.

Tesla continues to struggle to meet production targets for its Model 3 battery-sedan, an issue that led to record first-quarter losses. But the company has also found itself in the news because of a series of serious vehicle crashes, at least some of which appear to have occurred while they were operating in the semi-autonomous Autopilot mode.

News Now!

While those crashes could raise concerns about the safety of Tesla’s products, the more immediate threat to the company’s viability is lagging Model 3 production at its Fremont, California assembly plant. In a memo sent to employees, Musk noted he was “flattening (the company’s) management structure to improve communications,” while shifting away from “activities that are not vital to the success of our mission.” (more…)

NTSB Opens 2nd Tesla Investigation After Florida Crash Kills 2 Teens

Batteries catch fire after high-speed impact.

by on May.10, 2018

The National Transportation Safety Board launched a second investigation into a Tesla crash. This time a Model S burst into flames after spinning into a wall.

Even as federal investigators probe the cause of a fatal March crash in California, the National Transportation Safety Board is sending another team off to Florida to look into a fiery crash that killed two Ft. Lauderdale teenagers and seriously injured a third this week.

While the California probe focuses on the Tesla Autopilot system in use at the time of the crash, the new investigation aims to find out why the battery pack in the Model S sedan the teens were riding in burst into flames after the vehicle spun out of control into a wall.

Safety News!

“NTSB has a long history of investigating emerging transportation technologies, such as lithium-ion battery fires in commercial aviation, as well as a fire involving the lithium-ion battery in a Chevrolet Volt in collaboration with the National Highway Traffic Safety Administration,” noted NTSB Chairman Robert Sumwalt in a statement. (more…)

Tesla Doesn’t Need Money, Unless It Does

Quarterly filing language suggests funding needs.

by on May.08, 2018

Tesla's Elon Musk denied the company needed money during a recent earnings call.

Tesla CEO Elon Musk recently told analysts and journalists using a tone of voice that could be described as “certain” and “annoyed” that the electric vehicle company he founded doesn’t need any more money.

That is unless it does.

Industry News!

In the company’s latest 10Q filed with the Securities and Exchange Commission Tesla said, “If we cannot raise additional funds when we need or want them, our operations and prospects could be negatively affected.” (more…)

Musk Looks Beyond Model 3 Problems, But Creates Some Headaches in the Process

CEO talks future product, factories – but still sends stock plunging.

by on May.03, 2018

Forget those earnings numbers. Tesla CEO Elon Musk was far more interested in talking about future products, the next-gen Roadster shown here.

Tesla CEO Elon Musk is not one to suffer fools – or critics – lightly, as he proved during a 75-minute teleconference call following the release of the automaker’s first-quarter earnings report on Wednesday evening.

The South African-born executive attempted to put a positive spin on what was Tesla’s worst-ever quarterly deficit, promising future earnings while also revealing plans for new factories, new products and a new, fully hands-free version of the Autopilot system. But Musk also offered a harsh assessment of some of the reporters on the earnings call, while repeatedly cutting off analysts looking for long-term financial projections that he dismissed as “boring.”

Tesla News!

“These questions are so dry, they’re killing me,” he interjected before dismissing one analyst’s questions. Musk later shifted his disdain to reporters, at one point suggesting that by questioning the safety of Tesla’s current, semi-autonomous version of Autopilot, reporters might convince drivers to turn it off “and then die.”

(more…)

Despite Record Loss, Investors See Silver Lining Pockets in Tesla’s Q1 Earnings

Revenues beat expectation, loss narrower than forecast – but troubles remain.

by on May.02, 2018

Tesla CEO Elon Musk has taken to sleeping at the Fremont plant hoping to drive improvements in quality and production levels.

Tesla managed to beat Wall Street expectation on Wednesday, even as it reported the biggest loss in the company’s history.

But revenues exceeded expectations and the loss was actually less than anticipated, while the Silicon Valley automaker noted that production of the critical Model 3 battery-sedan reached 2,270 in the week prior to a temporary shutdown of the Fremont, California assembly plant last month. That’s up from barely 2,000 at the end of the first quarter.

Dig Deeper!

“The thing I’m most excited about is the rapid increase in output,” said Musk during a Wednesday afternoon conference call with analysts and reporters. “Production is improving dramatically, exponentially, in fact.”

(more…)

Nikola Sues Tesla Over Alleged Patent Infringement

Radically different powertrain technologies - but curiously similar cab designs spark lawsuit.

by on May.02, 2018

The Nikola One heavy-duty rig will be able to travel up to 1,000 miles on a tank of hydrogen.

There’s something ironic about learning that Nikola is suing Tesla, two companies both meant to honor maverick inventor Nikola Tesla, but the Salt Lake City-based Nikola Motor Co. has filed a suit against Silicon Valley rival claiming Tesla has infringed on its design patents.

While Tesla is best known for its battery  sedan and SUV models, it is also hoping to become a big player in the truck market with the upcoming launch of its electric Semi. Nikola, meanwhile, also wants to turn the truck industry green, though it is focusing on the hydrogen fuel-cell technology that will power rigs like its heavy-duty Nikola One. And it claims the similarities in the look of the two trucks is more than coincidental.

Keep on Truckin'!

“The Tesla Semi design is substantially similar to Nikola’s unique design, and Tesla copied Nikola’s patents,” the start-up claims in a lawsuit filed on Tuesday. It added that it “estimates its harm from Tesla’s infringement to be in excess of $2 billion.”

(more…)

Wall Street Waiting for Tesla Earnings as Automaker Burns Through Cash

The big question: will Tesla need a new cash infusion?

by on May.01, 2018

Tesla is losing about $6,500 a minute - or about as much as a Model 3 costs in the time it takes to read this story.

Whether you’re someone who sees the glass as half-full or half-empty, there’s plenty to ponder as Tesla prepares to reveal its first-quarter earnings on Wednesday.

The California battery-carmaker saw a big surge in production of its critical new Model 3 during the January to March period – but still fell 20% short of its target. Nonetheless, that was expected to have pushed revenues up 16.5% during the quarter, to $3.14 billion, according to Zacks Consensus Estimates. But with the automaker struggling to get things running smoothly at its Fremont, California assembly plant, quarterly earnings are expected to plunge 153.4%, year-over-year, with Tesla running a per-share deficit of $3.37.

Beyond the Headlines!

Short-sellers seem to be the ones with the biggest smiles these days, as Tesla’s worsening cash burn problem leaves investors wary and worried that the carmaker may soon have to beg Wall Street for money to keep its operations going.

(more…)

Tesla Model 3: How Can Such a Good Car Be So Bad

Teardown of battery-electric vehicle reveals many surprises.

by on Apr.25, 2018

"You can see the gaps from the moon" on the body of a Tesla Model 3, according to Sandy Munro.

With apologies to Charles Dickens, think of it as two tales of a car, suggests Sandy Munro, head of the suburban Detroit competitive analysis firm, Munro and Associates. How can such a breakthrough vehicle also have so many problems, he asks, during a lengthy look at what’s under the skin of the Tesla Model 3.

Over the years, Munro’s firm has vivisected hundreds of automobiles, including a number of new battery-electric vehicles, such as the BMW i3 and Chevrolet Bolt EV. But few teardowns, he suggested, have been more eye-opening than Tesla’s first mainstream offering. In terms of its battery-based drivetrain technology, the Model 3 readily sets a benchmark, but it’s another matter entirely with many of the things an owner more readily sees, including a body with massive quality and fit-and-finish problems.

Dig Deeper!

“It’s the best of (cars) and the worst of (cars),” Munro said, during a special meeting of the Detroit Automotive Press Association held at his Auburn Hills facility. “Some stuff gets a six, on a scale of one to five, others a one.”

(more…)