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Tesla’s (TSLA) stock down sharply following Q2 delivery miss, Deutsche Bank adjusts for a loss [Note]

Tesla (TSLA) montreal

tesla montreal

Today is the first trading day for Tesla’s (TSLA) stock after the automaker released its second quarter production and delivery results – missing its goals for both. The automaker confirmed missing its delivery guidance of 17,000 vehicles in Q2 with only 14,370 vehicles, while also missing its production guidance of 20,000 vehicles with only 18,345 vehicles.

The stock price fell sharply (over 4%) in pre-market. Now the first Wall Street analysts are commenting and adjusting their earnings prediction to account for the new information released by Tesla.

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Reuters: Suppliers question Tesla’s goals for Model 3 output in late 2017

tesla model 3

Reuters is out with a new report claiming that suppliers are “questioning” Tesla’s goal to significantly increase its production output for the Model 3. Reuters didn’t disclose the suppliers in question but some of the reporting came from the publication’s Seoul division in South Korea.

Since the unveiling of the Model 3, several reports from suppliers came out of South Korea, including a Reuters report about LG Display being selected to be “a sole supplier for the 15-plus inch center display of Model 3.”

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Tesla’s Fremont factory could manufacture up to 1 million vehicles per year, says Musk

Tesla Fremont factory 20

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.

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Tesla announces new Model 3 production plans, guidance of 500,000 cars/yr by 2018, instead of 2020

tesla model 3

Tesla’s stock price (TSLA) surged by 7% in after-hour trading after the release of its first quarter 2016 financial results. The reason for the surge wasn’t as much about its earnings, but because of its new Build Plan.

The automaker announced that it is advancing its 500,000 units per year guidance by two years to 2018. Tesla says that the new production plan is in reaction to the over 400,000 Model 3 reservations it received since the unveiling last month.

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Tesla President talks about a factory in China and increasing production capacity to satisfy Model 3 demand

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Earlier this month, Tesla confirmed that it is currently working on increasing its production plans to minimize the wait for the Model 3 following the storm of reservations it received for the $35,000 all-electric sedan – approaching 400,000 cars as of the latest update. The vehicles are set to be manufactured at Tesla’s main factory in Fremont, California.

While Tesla plans to manufacture about 90,000 vehicles in 2016, the company always refers 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, and it also plans to add more manufacturing capacity in other regions.

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Tesla is reportedly starting Model X production for European reservation holders

model x doors shot

Bjørn Nyland, a Tesla vlogger based in Norway, won a free Founders series Model X through Tesla’s referral program. The limited edition status of his car will make him one of the first owner in Europe and he now reports that his SUV finally entered production this week.

Several other European Model X reservation holders are now reporting having received confirmation that their vehicles entered the production phase this week.

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Tesla confirms ‘increasing its production plans to minimize the wait for Model 3’

model 3 unveil 1

In an email sent out last night (see below), Tesla confirmed that following the overwhelming number of Model 3 reservations it received, the company is currently “increasing its production plans to minimize the wait for Model 3” – something Elon Musk hinted Tesla was looking into after witnessing the long lines of people waiting at Tesla’s stores to reserve the $35,000 long-range all-electric vehicle.

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Tesla is going to “rethink” Model 3 production planning as reservations now reach 3 years current output – now 232,000

model 3 wild

Tesla CEO Elon Musk confirmed tonight that the automaker has now over 232,000 reservations for its newly unveiled Model 3:

[tweet https://twitter.com/elonmusk/status/716089404985487361 align=’center’]

Musk has been updating the public on the Model 3 reservations tally which has blown past the most optimistic predictions.

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Tesla denies claims that the Gigafactory is late and states that it’s still ahead of schedule on both construction and production

gigafactory feb 2016

Financial news publication Valuewalk published an article earlier this week titled: “Tesla Gigafactory To Get Delayed By Three Years“. The publication has since completely changed the headline to “Tesla Gigafactory construction ahead of schedule” after Tesla issued a statement stating that the battery factory is “ahead of schedule on both construction and production”.

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Tesla Model X ramp up accelerating, owners reporting having received VIN 5,000 and up

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After delivering only a few hundreds Model X’s late last year, there’s been doubts about the current state of production ramp up of Tesla’s new all-electric SUV. We now learn that several reservation holders who turned their reservations into orders are now receiving Vehicle Identification Numbers (VIN) as high as 5,000 and up, which could indicate a significant acceleration of the production ramp up.

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Rimac will debut the “production version” of the Concept_One in Geneva [New Pictures]

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As we reported last week, although we have been hearing less about them lately, Rimac Automobili has been hard at work and the Crotia-based electric automaker grew from 20 to 150 employees during the past 2 year, with now plans to go on a hiring spree and double its headcount in 2016.

Now the automaker is ready to show off its hard work at the Geneva Motors Show next week, where it will debut the “production version” of the Concept_One all-electric supercar, which the company is now calling a “hypercar”.

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Tesla and Panasonic are leading the almost 100 GWh of new li-ion battery cell production to come online by 2020

drone giga oct 2015

Tesla and Panasonic have undoubtedly the biggest and most widely publicized li-ion battery production project in the Gigafactory in Nevada, but it’s far from the only project aiming to increase global supply of this important component for many industries, including the EV industry.

As we often discussed, Tesla is already producing battery packs at the Gigafactory, but that’s only the beginning. In October 2015, the company moved the Tesla Energy production line from its Fremont factory to the ‘Gigafactory 1‘ project in Nevada. Tesla has since been ramping up for volume production to start in early 2016.

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Tesla is ramping up Model X production, non-signature Model X’s are reportedly entering production

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Tesla confirmed achieving a 238 units per week production rate for the Model X during the last week of December. The company produced just over 500 Model X’s in 2015, which represents about half of the ~1,000 US reservation backlog of limited-edition ‘Signature Model X’.

If the company maintained its production rate during the past two weeks, it means the company is starting the production of its regular production Model X, and the first report of a production Model X reservation holder having his car entering production is corroborating the assumption.

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Faraday Future possibly revealed the shape of its first production car

FF potential production car

We were kind of disappointed to learn yesterday that Faraday Future’s first big reveal is a concept race car, which will act as a “test bed” for the company’s technology, and not an early prototype of FF’s first production car.

But it looks like the company released a subtle glimpse of its first production car in the release video of its FFZERO1 concept.

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Lit Motors says it’s making progress on its electric self-balancing motorcycle, but still no timeline to production

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In his latest letter to the Lit Motors community, CEO Daniel Kim, who recently suffered from a severe motorcycle accident and is now recovering from a hip replacement, says the company is making progress on its electric self-balancing motorcycle, but they are still not ready to offer a timeline to production.

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First pictures of the production version 2017 Chevy Bolt

bolt-001-copy-1The first spy shots of the production version of the 2017 all-electric Chevy Bolt were released today via SpiedBilde and Autoblog. First impression is that the production version is quite significantly different from the concept car (as usual) unveiled at the Detroit Auto Show earlier this year. It seems to take more design queues from the Volt.

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Elon Musk says Tesla will have a factory in China within 2 years to satisfy local demand for the Model 3

tesla-elon-musk-1940x1091Tesla CEO Elon Musk is in China this week to personally oversee the release of the Autopilot in the country. Speaking at the Tsinghua University earlier today, he said that the company will have production capacity in the country within 2 years according to a Chinese report. The timeline matches the company’s planned release of its mass market $35,000 car, the Model 3.

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China to push for fourfold increase in solar production by 2020

DEC-DPVS-china-solar-farm-case-studyA senior Chinese official speaking to the government’s news agency on Tuesday said that the country will increase its solar capacity from 35.8 gigawatts to 150 gigawatts by 2020. The push would represent a fourfold increase in solar power generation for China, which is already the biggest producer of solar in the world. 

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Google moving towards wider production of its electric self-driving cars, making a ‘few hundred’

When Google originally showcased the newer low-speed “cute-mobile” self-driving car, it mentioned a goal of having about 100 of them on the road for testing within a couple years. Now, as the company is bringing its low-speed electric prototypes to Austin a year later, Sarah Hunter, head of policy for Google [X], has revealed that the company is expanding production of the cars (via The Guardian). Hunter says that Google is now producing at least a “few hundred” and hints at a potential future of mass-production…

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