Earlier this week, Tesla confirmed that it is introducing its new 75 kWh battery pack to the Model S, like it did for the Model X last month. Now Tesla confirmed that while the option is not available now, it will be by the end of the week, and every updated Model S 70 produced since the ‘facelift’ was equipped with the new 75 kWh battery, but software-limited to 70 kWh. expand full story
SolarCity will produce the electricity, Tesla Energy will store it – and the SolarCity Utilities Services will deliver it to you at night. Recently, Tesla said they would install more energy storage with Solarcity in 2016 than the USA installed in 2015. This morning SolarCity put out two press releases – one announcing the focus on Utility and Grid Services and a second regarding a 13MWAC solar power systems and at least 1.5 megawatts/6 megawatt-hour of storage with the Connecticut Municipal Electric Energy Cooperative (pictured above). Is all of this a warm up to build a (solar)city on Mars?
Following Tesla’s announcement that it plans to double its total production output to 500,000 vehicles in 2018 and 1 million in 2020, Tesla CEO Elon Musk was asked by analysts how and where he plans to manufacture those vehicles.
While the company has been talking about plans to build more vehicle factories in Europe and China, Tesla’s Fremont factory remains its only full-fledged car manufacturing facility. Company officials have always referred to the Fremont plant’s total capacity to be around 500,000 cars per year once optimized, which is what Toyota and GM were producing when they owned the factory, until now. expand full story
Chinese electric-car startup NextEV announced that it signed a strategic partnership agreement with the Nanjing Municipal Government in China, to build a 3 billion RMB ($465 million) factory in the region. The young company, which came out of stealth mode just last year, is said to have already raised close to $1 billion.
The company appears to have a similar approach as Tesla’s high-end car to mass-market vehicle strategy. NextEV says it will launch an electric vehicle with supercar-like performance by the end of the year, which will be followed by a mass-market vehicle they plan to offer for about $50,000 in China. The startup already developed electric race car for the Formula E (see picture above). expand full story
EV charging station maker and network operator, ChargePoint, announced that it closed a significant funding round with $50 million to expand infrastructure to new countries and ramp up its residential business. A couple of venture capitalist firms and electricity company Constellation Energy participated in the round of funding.
Since its inception in 2007, ChargePoint has raised $164 million. expand full story
During a conference call with financial analysts, Tesla CEO Elon Musk confirmed some of the most important details of the production plan for the Model 3. Most interestingly, he said that Tesla set a deadline for Model 3 internal parts and supplier parts for July 1st, 2017.
Musk called the date an “impossible date” and therefore it doesn’t mean that Tesla will start shipping in the weeks following this deadline, but Musk added that he estimates Tesla could manufacture as many as 100,000 to 200,000 Model 3 vehicles during the second half of 2017. expand full story
On today’s Tesla earnings call, CEO Elon Musk addressed the concerns of the Model X quality control by noting that he was now working at a desk at the end of the Model X assembly line and was spending so much time there that he had a sleeping bag there – and that he used it quite frequently… expand full story
Tesla reported its first quarter 2016 financial results and the company missed earnings expectation slightly with a loss per share of $0.57 vs $0.54, but also beat revenue expectation by a very slight margin with $1.6 billion.
The automaker’s stock (TSLA) still surged because of the announcement of a new build plan advancing its 500,000 units per year guidance by two years to 2018. The stock gained 7% after the announcement, but it is holding up 3% in after-hour trading.