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Posts Tagged ‘tesla news’

Tesla Cuts Prices for Second Time in Two Months

Company lops money off top models this time.

by on Aug.31, 2017

Tesla CEO Elon Musk cut prices on vehicles for the second time in the last two months.

Is Tesla feeling pinched by ever-growing competition? For the second time in the last two months, Elon Musk has gone all “Crazy Eddie,” cutting prices this time on the EV maker’s highest-priced models.

While “Crazy Eddie” is an exaggeration, the company cut the prices on the Model S and Model X 100D by $3,500. The performance versions of each, the P100D, saw a $5,000 price drop. So is this a proactive move to head off competitors?

Technology News!

Nah. Tesla says production costs for the 100-kilowatt battery packs have falling, and the company is simply passing along the savings to potential customers. The new price tag is similar to the prices seen before a price increase on the same models back in April of this year, but the current models offer more features than before. (more…)

From Vacuums to Battery Cars: Dyson Reportedly Looking at EV Option

Appliance maker hires two key Aston Martin executives.

by on Aug.28, 2017

No suck-up; James Dyson is best known for the vacuum and appliance company bearing his name.

It’s best known for its vacuum cleaners and fans, but British appliance company Dyson could be looking to get into electric cars, as well, according to recent reports out of Europe.

The company, founded by inventor James Dyson in 1987, has notably encouraged such speculation by hiring several Aston Martin veterans in recent months, including the former head of the car company’s product development operations. Dyson also purchased a Michigan start-up development what has been described as breakthrough battery technology, while also receiving funding for EV development from the British government.

Plug In!

Dyson would be the latest in a string of automotive outsiders looking to crack a traditionally closed industry by focusing on battery-electric technology. For the moment, however, Dyson has declined to directly address whether it is, indeed, hoping to take on traditional automotive brands, as well as newer EV entrants like Tesla.

(more…)

Tesla’s EV Semi Likely to Fall Short of Long-Haul Norms

Truck is limited to 300 miles per charge compared with 1,000-mile range.

by on Aug.25, 2017

Set to be revealed next month, Tesla's new semi-truck is expected to get between 200 and 300 miles on a single charge.

Tesla CEO Elon Musk revealed recently the company planned to unveil a semi-truck in September, adding it would be capable of handling long-haul loads.

Apparently, he forgot to add “just barely.”

News Now!

The new truck, which Musk has implied in the past would be on par with current trucks or better. However, a new Reuters report reveals that the new truck will be capable of 200 to 300 miles on a charge. Most long-haul trucks can go 1,000 miles before refueling. (more…)

Tesla Wants to Test Autonomous Semi-Truck in Nevada

Company surprises with autonomous package for truck.

by on Aug.10, 2017

Tesla CEO Elon Musk said the company would have a semi-truck ready by September.

Not long ago, Tesla founder and CEO Elon Musk outlined the company’s future products. The list included a semi-truck, which he likened to driving a go-kart.

That truck appears to be an autonomous reality as the company is asking Nevada if it can conduct real-world testing in the Silver State, according to the company’s testing permit application with the Nevada Department of Motor Vehicles, Reuters reported.

Industry News!

The EV semi isn’t all that surprising as Musk has mentioned it on several occasions, including in a tweet not too long ago. “Tesla Semi truck unveil set for September,” Musk said a few months back, the tweet adding, “Team has done an amazing job. Seriously next level.” (more…)

Pressed for Cash, Tesla Issues Junk Bond in Bid to Boost Model 3 Production

Automaker lowers price of Model X SUV to reflect “efficiencies.”

by on Aug.07, 2017

The first "saleable" Model 3 shown after rolling off the line at the Fremont plant last month.

Aiming for a massive increase in production to meet strong demand for its new Model 3 battery-electric vehicle, Tesla is issuing $1.5 billion in high-yield junk bonds.

The announced comes less than a week after Tesla said it had narrowed its losses for the second quarter. During a conference call to discuss the earnings report, CEO Elon Musk indicated the automaker might need a new cash infusion but would try to avoid issuing new stock.

Breaking News!

The new debt offering is meant “to further strengthen its balance sheet during this period of rapid scaling with the launch of Model 3, and for general corporate purposes.”

(more…)

Buoyed by Strong Sales, Narrowed Loss, Tesla CEO Musk “Very Confident” About Future

“Zero concerns” battery-carmaker will miss next year’s 500,000 vehicle production goal.

by on Aug.03, 2017

Tesla CEO Elon Musk said he believes the company will have 25% profit margins on its Model 3 by late 2018.

The company may still be operating in the red, but Tesla’s improved second-quarter financial report helps set the goal for aggressive production ramp-up that could give it industry-leading profit margins in little more than a year, CEO Elon Musk said during a Wednesday evening teleconference.

Musk said he has grown “very confident” about the future of the California-based automaker, especially as he watches a flood of orders rush in for the new Model 3 battery-electric vehicles that went into production last month.

News You Can Trust!

Despite repeating a warning that the next six months could bring “manufacturing hell” for Tesla, the South African-born entrepreneur insisted it will pay off in the not-too-distant future. “People should have absolutely zero concerns – zero – that Tesla will be able to hit 10,000 vehicles a week by the end of next year.” (more…)

Tesla Narrows Second-Quarter Loss as Revenues Nearly Double

Investors rally after a week-long stock slide.

by on Aug.02, 2017

Early versions of the Model 3 are shown waiting for delivery to the first buyers last week.

After taking a sharp tumble, Tesla stock rallied on Wednesday, investors responding positively to a nearly doubling of revenues during the second quarter, with the battery-carmaker’s loss for the April-June period narrowing more than analysts had expected.

Tesla clearly needed a boost after suffering a nearly $70 a share dip from the record $383.45 closing it had hit on June 23rd. And the second-quarter earnings appeared to be just the tonic needed as the company moves into the critical rollout of its Model 3 sedan.

By the Numbers!

For the quarter, Tesla reported an adjusted loss of $1.33 a share, well below the $1.82 deficit analysts had anticipated, according to consensus numbers gathered by Thomson Reuters. Meanwhile, revenue jumped to $2.79 billion, while analysts had expected a figure of $2.51 billion. (more…)

Fear of “Manufacturing Hell” Has Investors Unplugging From Tesla

Model 3 ramp-up could prove seriously challenging, CEO Musk warns.

by on Aug.01, 2017

An SRO crowd gathers for the event marking the delivery of the first Tesla Model 3 on 7-28-17.

After spending months driving up the shares of Tesla, Inc., investors seemed ready to run on Monday after outspoken CEO Elon Musk warned that his company could face a half-year of “manufacturing hell” trying to ramp up production of the new Model 3 battery-electric sedan.

The Model 3 is Tesla’s long-awaited entry into the mainstream market, with prices ranging from around $35,000 to $60,000. The California carmaker is believed to have as many as 400,000 advance reservations. But it will face a serious challenge, Musk acknowledged, boosting production at the Tesla plant in Fremont, California to the point where it can roll out the promised 500,000 vehicles next year.

Breaking News!

Investors aren’t the only ones worried. A group of Tesla workers on Monday asked the company’s board to provide a plan that will, among other things, address worker safety during an aggressive ramp-up aiming to boost production almost five-fold from 2017 to 2018. Tesla has come under fire in recent months over allegations of unusually high injury rates at the suburban San Francisco plant.

(more…)

Tesla Delivers: First 30 Owners Get New Model 3s

Company ramping up to 5,000 vehicles per week target.

by on Jul.29, 2017

Elon Musk, Tesla founder and CEO, talks through a design issue on Model 3 during the new vehicle's debut.

In front of a crowd of thousands of cheering Tesla employees, Elon Musk may have taken the shortest victory lap ever, driving a new Model 3 onto a stage, a route of probably less than 500 feet to kick off the delivery of the first 30 Model 3s to customers.

Though the hype leading up to the moment was tough to escape, it was a milestone moment in the company’s history — a moment many thought to be a pipe dream about a decade ago when Musk was running around with the Roadster telling folks a mainstream EV was the company’s goal and that it would happen.

News You Can Trust!

“The whole point of Tesla was to build a great affordable electric car,” Musk said last night. “That’s what this day means. I’m confident it’ll be the best car in its class, gasoline or not, hands down.” (more…)

Tesla Cutting from the Bottom: Kills Model S 75

EV maker looking for more separation between Model S, Model 3

by on Jul.24, 2017

Tesla announced it was ending sales of the Model S 75. The maker is looking to put some distance between the Model S and Model 3.

As Tesla’s new addition to its line-up, the Model 3 is now hustling down the assembly line, the company made another change to its portfolio, cutting the Model S 75, which was the least expensive model the EV maker offered prior to the Model 3.

The rear-wheel drive Model S 75 started at $69,500, but now the least expensive Model S is the 75D, an all-wheel-drive version of the 75 that starts at $74,500.

EV News!

In addition to creating a bigger price gap between the two vehicles, it also means that the Model S family is only available in AWD. (more…)