In this week’s top stories: we got a lot of updates on the highly anticipated Tesla Model 3 through the company’s fourth quarter earnings and through some exclusive reports. We looked into how to invest in some of the resources required for the electric vehicles revolutions and much more on Electrek.
While most of the information that came out of Tesla’s earnings yesterday about the Model 3 were related to the vehicle’s production program, CEO Elon Musk also disclosed new details and gave a few interesting hints about the upcoming vehicle.
Considering Musk pushed the final unveiling of the Model 3 to a few months later than anticipated, it might be a while before we get more information on the vehicle and therefore, reservations holders and enthusiasts (ourselves included) are sure to over analyze any new detail until then. expand full story
As we reported earlier this week, a new bill (HB 7097) is being introduced in Connecticut to allow direct sales of electric vehicles in the state. Tesla is pushing for the bill to pass, while local dealerships are strongly opposing it.
Yesterday, the Connecticut Transportation Committee held its first hearing on the bill during which Tesla and dealerships argued yet again over direct sales. expand full story
One of the main concerns of current and future Tesla owners is the company’s ability to scale its service operations after the Model 3 launch, which will add hundred of thousands of vehicles in Tesla’s global fleet.
The automaker is already having difficulties keeping up with service demand in some regions, but it has now announced a “reengineering and expansion” of its operations in order to prepare for Model 3. expand full story
The final reveal of the Tesla Model 3, which has been referred to as “Part 3”, was expected in March or April based on comments made by CEO Elon Musk last year, but he has now apparently changed the plans – though it doesn’t seem completely fleshed out.
The CEO is now guiding for a reveal “probably” after the Model 3 production starts in July since the first vehicles will go to employees and the configuration will open around the same time. expand full story
Tesla released its shareholders letter today and gave an interesting update on the Model 3. The company seems hell bent on achieving production as soon as July 2017 and ramp up rather quickly to “volume production” in September.
They announced having produced new prototypes earlier this month and even having performed some crash tests. expand full story
After market close today, Tesla released its financial results and shareholders letter for the fourth quarter and full year 2016. Wall Street was expecting revenue of $2.201 billion for the quarter and a loss of $0.13 per share, but the company delivered higher on revenue of $2.284 billion and missed on earnings with a loss of $0.78.
For the full year 2016, revenues were up 73% from 2015 at $7 billion. expand full story
As we currently understand them, BMW’s electric vehicle plans for the next few years simply consist of incremental improvements to its current lineup, BMW i3 and i8, up until its first new all-electric car, which is not expected before 2021.
It will leave BMW out of the pack of electric vehicles that premium automakers, like Mercedes, Audi, Porsche, and Jaguar, are all planning to release in the next 2-3 years.
BMW has so far only referred to the upcoming new all-electric vehicle as “iNext”, which was believed to be the long-rumoured ‘BMW i5’ electric crossover/SUV, but a new report now suggests that it could actually be a mid-range sedan to compete with the Model 3. expand full story
Wall Street and Main Street are looking at Tesla this week as the company will be releasing its financial results for the fourth quarter 2016 and full year 2016 financial results tomorrow.
As the stock keeps testing new highs in the past few weeks, there’s a clear divide between how retail investors and Wall Street are valuing the company at the moment. expand full story
As the discussion around what parts of the Tesla Model 3 will be made of aluminum and what parts will be made of steel was renewed by what looks like the first picture of a Model 3 chassis we posted this morning, one of Tesla’s aluminum part suppliers announced an investment to increase output of certain parts ahead of Model 3 production. expand full story
As Tesla is currently temporarily shutting down production in Fremont to update manufacturing equipment for Model 3 production, we could be getting our first picture of an actual Model 3 chassis and a peek inside the ‘alien dreadnought’ that is supposed to be the vehicle’s pilot production line. expand full story
In this week’s top stories: Model 3 70D & battery pack options, Tesla Semi, EV news from Volvo, Audi, VW, Hyundai and others, and much more.
The United Auto Workers has been trying to unionize Tesla’s growing workforce at the Fremont factory for a while now. Last year, UAW President Dennis Williams said that they were “respecting Tesla’s startup status” up until now, but they are seeking to get involved now that Tesla is increasing its production capacity with the Model 3.
Using similar language, a Tesla employee published a blog post today to get the ball rolling again. In a statement to Electrek, Tesla said that it plans to continue “engaging directly with employees” instead. expand full story
According to a report by Reuters based on sources in Tesla’s supply chain, the automaker plans to start a pilot production of the Model 3 on February 20.
Tesla refused to comment on the report, which comes as the company confirmed to Electrek that it plans to temporarily shut down the Fremont factory around the same time in order to retool some equipment for the Model 3. expand full story
Tesla confirmed in a statement to Electrek today that it plans to “pause” production for a week this month at the Fremont factory in order to install equipment for Model 3 production.
The company doesn’t expect that it will affect its production for the first quarter 2017 since it “added production days to compensate.” expand full story
Yesterday, we got a slightly better idea of the range of battery options for the Tesla Model 3 after CEO Elon Musk confirmed that the vehicle’s wheelbase can’t support a 100 kWh battery pack like the Model S and X.
But specifics are still unclear since it leaves us only with a vague range of < 60 kWh to < 100 kWh for battery options. Today, we get some actual numbers for the first time as we learn of a Model 3 test mule. expand full story
Tesla Model 3 reservation holders can’t wait to know more about the options that will be available for their vehicle and the most anticipated one is without a doubt the battery pack. What will be the battery pack capacities available?
CEO Elon Musk made a rare comment about it today and confirmed that the top of the line version will be lower than 100 kWh – like the one currently available for the Model S and X. expand full story
When Elon Musk released his‘ Master Plan Part 2’ for Tesla last year, he surprised a lot of people in the industry when he announced that the automaker will soon venture in the semi-truck business.
Musk confirmed today that the project, which has been called ‘Tesla Semi’, is making good progress, but we shouldn’t expect much until Tesla can get the Model 3 out the door. expand full story
As we reported last month, Tesla changed the branding of the Model 3 on its website from the original three horizontal lines (☰) to represent the ‘3’ in favor of a numeric ‘3’.
At the time, it wasn’t clear if it was a definitive sign that Tesla is going with that branding for its upcoming $35,000 all-electric sedan, but CEO Elon Musk has now confirmed it. expand full story
In this week’s top stories: A Model 3 eye-candy gallery to keep you salivating ahead of a ‘part 3’ unveiling, a first look at Elon Musk’s tunnel boring machine, Indiana is the latest to fight direct sales from automakers, Tesla introduces new maintenance plans for Model S and X, and much more.