Tesla is set to release its third quarter 2015 financial results today at market close. Management will hold a conference call with Q&A at 2:30pm Pacific Time (5:30pm Eastern Time). You can join on the call through Tesla’s website and join us below the break for live updates:
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After a concert last Thursdays night, Katya Pinkowski, a Tesla Model S owner in Vancouver, returned to her car in an underground parking lot to find it missing. Pinkowski told local news outlet The Province that after making sure her Model S didn’t get towed, she called her husband who quickly checked the Tesla App to confirm the location of the vehicle.
Tesla’s smartphone app allows owners to access certain features of their vehicles like climate control, charge state and fortunately for Katya and her husband Cary, real-time location tracking.
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Tesla is set to release its third quarter 2015 financial results later today, but we are already looking at the fourth quarter as registration data are coming in from some European markets. Tesla will need an impressive fourth quarter to achieve its 2015 guidance and it might get it from what we are seeing so far.
The company expects to deliver between 50,000 and 55,000 vehicles in 2015 and with the current official year-to-date total of 33,157 units, Tesla needs to deliver a record-breaking ~17,000 units in the last 3 months of the year to achieve the low-end of its own guidance. It would represent a ~73% increase over the fourth quarter last year.
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Tesla sent out an email this weekend to Model S owners on the waiting list for a retrofit of their Performance Dual Motor Model S to enable the ‘Ludicrous’ mode. In the email, Tesla explained that due to parts and process improvements, the company is now able to offer the upgrade at a reduced price of $5,000 instead of the previously announced $7,500.
The Ludicrous upgrade consists of two improvements to the electronics of the Model S’ battery pack. The first improvement is the replacement of a standard fuse to an “advanced smart fuse” which enables the monitoring of current to the millisecond, and makes it possible to cut the power with “extreme precision”.
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Mobileye is a relatively small Israel-based tech company, but it is rapidly positioning itself as a major hardware and software supplier for the implementation of driver assist and autonomous driving features. In a recent presentation at Citi’s 2015 Global Technology Conference, CEO Ziv Aviram claimed that 90% of automakers are using their products.
Mobileye is also a supplier for Tesla’s recently released Autopilot and during the same presentation, the CEO hinted at the company’s potential next generation hardware suite that could allow for a wider range of autonomous features and maybe even complete self-driving.
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Tesla is set to release its third quarter 2015 financial results tomorrow. The company already confirmed record deliveries of 11,580 cars globally from July to September and it marked the very first quarter with deliveries of two different models: the Tesla Model S and Model X.
The Model S remains Tesla’s main source of revenue – meaning there shouldn’t be too much of a surprise on the revenue side, but let’s take a look at what to expect in numbers:
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Yesterday Detroit Electric announced it finally started production on the SP:01, a Lotus Exige-based electric sport car. The company released on its Facebook page a picture (see above) of the first few cars rolling off the production line in Leamington Spa, U.K.
If an electric sport car based on a Lotus rings a bell for you, it’s probably because of the Tesla Roadster which was based on the Elise and at first also assembled by Lotus in England, although Tesla ended up repatriating most of the assembly process in U.S.
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During the press conference for the release of the Autopilot, Tesla CEO Elon Musk referred to each Model S owners as an “expert trainer” – meaning that each driver will train the autonomous features of the system to feed the collective network intelligence of the fleet by simply driving the electric vehicle on Autopilot.
He said that the system should improve every day, but that improvements might only become noticeable every week or so by adding up. Just a few weeks after the release, Model S owners are already taking to the Tesla Motors Club forum to describe how the Autopilot is improving…
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NHTSA submitted a recall report earlier this week for Daimler to recall all Mercedes electric B-Class over a problem with Tesla’s drivetrain. The report, which we embed below, perfectly highlights the need for over-the-air updates across the whole automotive industry. According to the filing, the recall is due to a problem with the gateway software of the electric powertrain, which is supplied by Tesla Motors, and affects all 2,618 Mercedes electric B-Class produced between November 2013 and May 2015.
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The rules regulating the use of Tesla’s Autopilot are often vague or even non-existent depending on the jurisdiction, but the California DMV is working to change that. The organization is due to release a draft of consumer rules for the use of autonomous features in vehicles.
Earlier this year, the agency sent a letter to Tesla to clarify the autonomous features of the Autopilot update and state officials even met with the company the day before the release (Oct. 14) according to the San Jose Mercury News. Yet the DMV still appears to be confused about the workings of Tesla’s Autopilot…
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Yesterday at the Tokyo Motor Show, Mitsubishi unveiled its 250 miles all-electric crossover eX concept. The company announced the model just a few weeks ago, but we only had renders, now we have the real thing.
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After mostly flat sales during the first half of the year, Tesla experienced a 52% quarterly increased between the second quarter and the third ended in September by delivering 1,345 Model S units for a total of 3,025 so far in 2015. Tesla rarely discloses sales by segment, but CEO Elon Musk made an exception during a recent visit in China and later Tesla spokesperson Gary Tao confirmed the numbers.
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I thought that Mercedes’ recently unveiled IAA concept was weird-looking, but it has nothing on the German automaker’s new “Vision Tokyo” which it introduced today at the 2015 Tokyo Motor Show.
The concept is equipped with “fuel cell-powered electric drive system”, which consists of an electric motor powered by both a battery pack and pressure tanks of hydrogen with fuel cells.
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Nissan unveiled the IDS concept at a preview of the Tokyo Motor Show today. The company described the concept as the embodiment of its vision for electric vehicles and self-driving cars going forward. The concept is fitted with a 60 kWh battery pack, which represent exactly twice the energy of the biggest battery pack option for the Nissan’s flagship LEAF. Although the company didn’t confirm a range for the vehicle, if we consider the size of the battery pack combined with its aerodynamic design and full-carbon-fiber body, the IDS concept could achieve a range of around 200 miles on a single charge.
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NVIDIA CEO Jen-Hsun Huang announced that he took delivery of a rare Tesla Model X P90D, presumably a ‘Founder Series’ since Signature Model X reservation holders have yet to be assigned a delivery date.
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Tesla builds its own battery packs, but imports the several thousands battery cells needed per pack from suppliers, mainly Panasonic. The automaker is heavily investing to change that by building the Gigafactory, in partnership with Panasonic, to manufacture both the cells and battery packs in the Nevada desert east of Reno.
But the planned output of the factory is 35 GWh in battery cells and 50 GWh in battery packs, meaning the Gigafactory will need to import 15 GWh of battery cells. Tesla already confirmed its intention to source the cells from more than one suppliers “potentially including Panasonic”, and today we learn through a new report from Asia Nikkei that the company is reportedly in the final stages of negotiations with LG Chem.
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DreamWorks Animation CEO Jeffrey Katzenberg, a Tesla Model S owner, had a car accident in Beverly Hills on Oct. 19. Little is known about the actual accident, but it was severe enough to break Katzenberg’s wrist, which required a surgery followed by a stay at the hospital.
Apparently the accident could have been much worse because Katzenberg felt the need to thank Elon Musk, Tesla’s CEO, for his car might have “saved his life.
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Tesla Motors sent an email Monday morning to all Roadster owners to confirm the expansion of its battery upgrade program to now include early models, which were excluded until recently. Earlier this summer, Tesla released the details of its long-awaited battery upgrade for its first vehicle, but a lot of owners were disappointed to learn that it was only available to later versions of the all-electric sport car.
Now every owner with $29,000 to spare gets access to the upgrade which increases the range of the vehicle by about 35%.
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The so-called “poaching war” for top automotive engineering talent between Tesla and Apple gathered quite a few headlines in the past months, especially after Tesla CEO Elon Musk called the Cupertino company the “Tesla Graveyard” for hiring people he claimed were “fired” by the company. But after looking closer into the recent hires between the two companies, it looks like Tesla has little to fear from Apple’s recruiting effort, at least if we compare it to Faraday Future’s.
Faraday Future took a small step out of ‘stealth mode’ earlier this summer to announce that it is looking for a location for a manufacturing facility to build an electric vehicle. In the months since, the 1-year old startup ramped up its hiring effort and now has over 400 employees with an impressive percentage coming from Tesla.
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This weekend Formula E had its second season inaugural ePrix race in Beijing, China. Here are the results and a video of the highlights of the race:
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Earlier this summer we wrote about Taxelco, a Montreal-based startup which bought the second largest taxi company in Montreal (500 cars and 1,000 drivers) with the intention to transition the whole fleet to electric. The company is getting ready to launch its pilot program in November with 50 new electric cars, including a dozen Tesla Model S’s recently acquired.
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On Thursday, California’s Air Resources Board had a meeting and status update on the state’s ‘Zero Emission Vehicle’ (ZEV) program where industry actors expressed their views on the clean vehicle market and the ZEV credit mandate. During a presentation to the board, Tesla’s Vice President of Business Development Diarmuid O’Connell argued that lobbying efforts from automakers effectively delayed fuel economy in the U.S. by about 20 years.
He added that the automotive industry used similar lobbying tactics to delay the commercialization of Zero Emission Vehicles. He said the effort delayed the state of California’s initial 1998 goal of 2% market penetration by 16 years – Zero Emission vehicles only reached 2% of the market in 2014.
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As expected, Tesla started releasing its Autopilot software update to European and Asian markets on Friday, except Japan which is still under review, after gaining regulatory approval. While announcing the worldwide rollout on Twitter, Tesla CEO Elon Musk already announced ‘Autopilot 1.01’ to improve the system’s autonomous features.
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