Tesla Motors Stories July 18, 2016
Tesla CEO Elon Musk is a little late to publish his ‘Part 2’ of the ‘Tesla Secret Master Plan’, which he hoped to reveal last week, but it looks like it was pushed to today. He was a little busy overseeing the successful Falcon 9 launch and landing in Cape Canaveral last night, and the ongoing Dragon mission.
The plan is expected to outline Tesla’s future product lineup as the company transitions from a transportation company to an energy company. In line with the transition, Tesla finally moved its main domain ‘teslamotors.com’ to its recently acquired ‘tesla.com’ over the weekend. expand full story
Tesla Motors Stories July 11, 2016
If there’s a list Tesla is probably OK with not being at the top of, it’s ‘Best Car Salesmen’. The company boasts about its distribution and servicing model being unlike any other in the industry and the latest mystery shoppers study by Pied Piper, a real consultant and market research firm (not based on the HBO series Silicon Valley), kind of proved that it is the case by placing Tesla dead last. expand full story
Tesla Motors Stories July 6, 2016
Rich Heley was one of Tesla’s biggest hire and quickly rose in the executive ranks of the automaker. We broke the news of his hire back in 2013 when he was still leading Alloy Engineering at Apple. Now we learn that only 3 years later, the engineer, who until recently was Vice President of Product Technology at Tesla, is now leaving for Facebook. expand full story
Tesla Motors Stories July 5, 2016
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. expand full story
Tesla Motors Stories July 3, 2016
Tesla (TSLA) released today its production and delivery numbers for the second quarter 2016. 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. expand full story
Tesla Motors Stories June 14, 2016
Tesla’s stock (TSLA) rallied last week following comments by Ron Baron. The rally didn’t last long after rumors of a potential problem with Tesla’s suspension started to spread quickly at the end of last week.
While the rumors have been mostly shut down at this point, Tesla’s stock is having difficulty recovering and a new report about the automaker’s sales in Europe is not helping. expand full story
Tesla Motors Stories June 8, 2016
Analyst Brad Erickson from Pacific Crest issued a new note to clients today following a visit of the Tesla Fremont Factory. The analyst noted that Tesla appears to be on track to exit the second quarter at the a production rate of 2,000 cars per week (Model S and X combined) and it is tracking toward its annual delivery target of 80,000 to 90,000 vehicles.
It’s a good day for Tesla. Earlier this morning, we reported on the company knocking VW out of the top 10 car brands in the BrandZ annual report. Now we learn that the automaker also won the AutoPacific award for the highest satisfaction rating of any premium brand – building on its Consumer Report survey score of 97%. expand full story
Tesla’s brand has significantly increased in value over the past year, especially since the Model 3 unveiling and the more than 373,000 reservations it received. On the other hand, Volkswagen’s brand took a big hit following the ‘Dieselgaste’ scandal, so much so that Tesla has now surpassed the company’s VW brand in “brand value”.
BrandZ published its annual report of the 100 most valuable brands and Tesla knocked VW out of the top 10 in the car category. expand full story
Tesla Motors Stories June 7, 2016
Ron Baron, the billionaire founder of Baron Capital, was on CNBC this morning to discuss his latest favorite investment: Tesla Motors (TSLA). The mutual fund manager said that he sees Tesla becoming one of the largest companies in the world and he sees his fund holding it stock for the next 10 to 20 years. expand full story
Tesla Motors Stories May 30, 2016
Tesla has been tuning its referral program for close to a year now. The automaker went through 3 rounds with different rules, rewards and discounts. The last round ended in mid-April and the company hasn’t updated the program until now.
This weekend Tesla reactivated the referral links and now a new offer of $1,000 in credit is available through the new referral program with both Model S and X orders. expand full story
Tesla Motors Stories May 25, 2016
The fine folks at GM have given us a shiny new (OK, 500 miles) electric blue 2017 Chevy Volt to test drive for the next week. I’m keeping a diary of my experiences every day here and will wrap up the week with my conclusions. (Day 2, Day 3-4, Conclusion/Wrapup)
Day 1, Delivery and Setup expand full story
Tesla Motors Stories May 24, 2016
This morning a reader brought to our attention that the Tesla.fr domain, which is not owned by Tesla but is a premium domain in France, was redirecting traffic to the BMW i3 page of the German automaker’s French website. expand full story
In a surprising turn of event last month, several BMW executives in the automaker’s electric vehicle leadership, also known as the BMW ‘i’ brand, left the German automaker to join a newly formed Chinese EV startup, Future Mobility Corp, backed by Tencent Holdings.
Now Electrek has learned that two Tesla executive joined the BMW leadership at Future Mobility. expand full story
Tesla Motors Stories May 18, 2016
Goldman Sachs’ analyst Patrick Archambault issued a new note to clients today about Tesla (TSLA) and sees 22 percent upside for the company’s stock, which has been down following its financial results earlier this month and the announcement that Tesla aims to increase its annual vehicle production to 500,000 cars in 2018 – two years earlier than previously planned. expand full story
Tesla Motors Stories May 17, 2016
Billionaire George Soros discloses a new investment in Tesla (TSLA)
Billionaire investor George Soros invested in Tesla back in 2013, but he sold his position just a year later. Now his latest 13F filing shows that he is back with a new stake in the electric automaker.
Tesla Motors Stories May 12, 2016
In a documentary about the Stanford Solar Car Project, Stanford University’s team participating in the World Solar Challenge, Tesla co-founder and CTO JB Straubel describes the team has a “key thing” during the early days of Tesla Motors as he recruited his friends from the team to start the company. expand full story
Tesla Motors Stories May 5, 2016
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
Tesla Motors Stories May 4, 2016
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.
Tesla Energy delivered over 2,500 Powerwalls and nearly 100 Powerpacks (25 MWh total) to 4 continents last quarter
While not quite as exciting as its plans to move half a million EVs in 2 years, Tesla today also announced modest sales of its Energy products as part of its shareholder letter today.
Tesla Motors Stories May 3, 2016
Tesla’s stock (TSLA) down ahead of earnings, Wall Street weighs in
Tesla’s stock (TSLA) fell over 3% on Tuesday morning as Wall Street analysts are releasing notes on the company ahead of the financial results tomorrow. To be fair, the whole market is down (NASDAQ -1.15%) and crude oil took a hit (-2.32%), but it is still interesting to know what Wall Street thinks of Tesla going into the earnings.
Tesla Motors Stories May 2, 2016
Tesla is set to release its first quarter 2016 financial results on Wednesday, May 4 after market close. As usual, the release of the results will be followed by a conference call and Q&A with Tesla’s management at 2:30pm Pacific Time (5:30pm Eastern Time). Now here’s what to expect on Wednesday: expand full story
Tesla Motors Stories April 25, 2016
Tesla (TSLA) stock price target raised by Goldman Sachs on Model 3 orders
Goldman Sachs analyst Patrick Archambault issued a new note to clients this morning to announce that he raised his price target on Tesla (TSLA) to $245.00 from $202.00 citing Model 3 orders which are reportedly approaching 400,000.
Tesla’s stock opened up over 1% this morning, even though Archambault’s updated price target is below the current trading price and he maintains his “neutral” rating.
Last year, Tesla announced a restructuring of its sales leadership after it reassigned its Vice President of Global Sales and Service, Jerome Guillen, to a new role leading customer-satisfaction. Guillen later took a leave of absence from Tesla and the company hired Jon McNeill as President of Global Sales, but Tesla kept looking for new executives to lead sale operations in each of its main markets (NA, EU and Asia).
While Tesla filled the North American and Asian roles last year by hiring former Burberry executive Ganesh Srivats as Vice-President for North America Sales, and Ren Yuxiang as Vice-President for Asia-Pacific, now Electrek has learned that Tesla just filled the European role by hiring Willem Haitink, O’Neil CEO and former long-time Nike executive, to lead sales in Europe, the Middle East and Africa (EMEA). expand full story
Tesla Motors Stories April 21, 2016
Faraday Future’s manufacturing leadership is now headed by not one, but two former Tesla executives. Faraday’s Global Vice President of Manufacturing, Dag Reckhorn, was Director of Model S Manufacturing at Tesla from 2009 to 2013.
He was one of the early members of the electric vehicle startup set to compete with Tesla in the luxury segment, and now he apparently brought on board Andrew De Haan, Tesla’s Director of Global Supplier Industrialization, who we learn left Tesla’s Fremont factory last month to join Faraday as manager of its upcoming plant in Nevada just last week. expand full story
Tesla Motors Stories April 19, 2016
Tesla’s stock price ($TSLA) surprisingly tumbled following a new report from the review magazine Consumer Reports highlighting some quality issues with early Model X units. The stock fell over 4% after the report was published this morning, but gained in the afternoon and it is now down only 2%.
I say the tumble is surprising due to the report hardly containing any new information. The magazine cites one particular case of a Model X owner having some issues needing a few service center visits and then add some data point by also citing “message boards” complaints about the vehicle. expand full story
Tesla Motors Stories April 12, 2016
Update: The screenshot above is no longer available and the base price was updated to $83,000
Tesla today opened its Model X configurator a day after CEO Elon Musk had planned for yesterday. The Model X Recall probably delayed plans slightly.
Besides the configurator, it appears at 1st glance that the Model X will get a new 75kWh battery option (though initially there is some confusion on the website, see above). expand full story
Tesla Motors Stories April 4, 2016
Tesla’s stock (TSLA) was up over 4% in early trading this morning after CEO Elon Musk spent his weekend answering questions on Twitter about the newly revealed Model 3 and sending out updates about the number of reservations Tesla is accumulating.
Since Tesla unveiled the vehicle last week, 8 financial analysts issued new notes updating their analysis of Tesla’s outlook and currently the general consensus is a “buy”, but with an average price target of $253 – representing only a ~6% upside. expand full story
Tesla Motors Stories April 3, 2016
Australian Airline Qantas put their 737-800up against Tesla’s Model S along the three kilometre runway at Avalon Airport southwest of Melbourne, Australia. Nevermind that the Tesla Model S can’t even do 181 mph which is the take off speed of this aircraft.
Plane versus car… pilot versus driver. We raced our Boeing 737 against a Tesla Model S to celebrate innovation and sustainability with Tesla Motors.
Who won? My 1st reaction was “certainly not the environment” – they probably used the same amount of petrol that all of Tesla Model S/X in Australia saved together in a year on this stunt. But Qantas says they’ve offset that somehow and have some exciting tie-ups with Tesla Motors. Head south for details…and the drag video… expand full story
Tesla Motors Stories March 31, 2016
Elon Musk often acts as the defacto PR department for Tesla Motors and in a Tweet today – in the mist of the Model 3 unveil – the CEO announced that Tesla would be expanding into at least 7 more countries. The expansion includes 6 continents and includes the BRIC countries of Brazil and India, South Africa (CEO Elon Musk’s birthplace), South Korea, New Zealand, Singapore, and Ireland. The tweet left room for others that might not fit into the 140 character medium. expand full story
Tesla Motors Stories March 30, 2016
Tesla CEO takes to Twitter to hedge on Model 3 unveil, says ‘part 2 will be closer to production’
Tesla CEO Elon Musk took to Twitter today to elaborate on the Model 3 launch which happens tomorrow. Perhaps to hedge expectations on how much will be revealed, he noted that there would be a second, more thorough reveal closer to the production cycle which is currently set at late 2017.
Tesla Motors Stories March 29, 2016
Thursday evening, Tesla will unveil, perhaps, their most important vehicle in company history, the $35,000 Model 3. Tesla certainly will not be taking their time getting an eye on the demand. Pre-orders begin at the company’s brick-and-mortar storefronts Thursday morning and online Thursday at 8:30pm Pacific (3:30am UTC), during the unveiling event.
You’re reading that correctly: Tesla will be allowing public pre-orders for the Model 3 hours before anyone even sees it. So why would anyone put down $1,000 to reserve a car, sight-unseen, that is probably 2 years away from delivery? expand full story
Tesla Motors Stories March 24, 2016
In just the past few weeks, Tesla lost 2 Vice-Presidents. Last week, we reported on Tesla’s Vice President of Global Communications Ricardo Reyes leaving the company, and now we learn that the automaker’s VP of Finance and Worldwide Controller is leaving to return to Amazon as VP of Finance.
Michael Zanoni joined Tesla from Amazon in 2014. expand full story
Tesla Motors Stories March 23, 2016
Tesla’s stock (TSLA) is down almost 5% today following a downgrade from S&P Global Market Intelligence. S&P analyst Efraim Levy issued a new note today downgrading Tesla to “sell” with a new price target of $155, while the stock currently trades at ~$223. expand full story
Tesla Motors Stories March 18, 2016
Around the same time Tesla allowed its employees to place an early reservation for the Model 3 last night, the automaker also sent out the official invites for the Model 3 unveiling event on March 31st.
650 Tesla owners have been chosen at random to attend the event in Los Angeles. It will be a much smaller, more intimate event than Tesla is used to with around 800 people in total in attendance. The company also confirmed that rides will be available not only for the press, but also for the Tesla owners in attendance.
The invites seem to confirm that the “3” in “Model 3” will be stylized with 3 horizontal lines just like the “E” in Tesla’s logo. expand full story
Tesla Motors Stories March 8, 2016
Tesla last night posted 11 “howto” videos showing how to use the giant capacitive touch display in the middle of the center console as well as the smartphone app. Veteran Model S owners will find them mostly repetitive but there might be some nuggets of wisdom inside. However, new and prospective owners need to see all of them to understand how the car works. See all embedded below: expand full story
Tesla Motors Stories February 28, 2016
If there’s indeed a poaching chess game going on between Tesla and Apple, it would appear the automaker is winning in acquiring quality pieces. Just a few week after we exclusively reported that Tesla hired legendary chip architect Jim Keller as new “Vice-President of Autopilot Hardware Engineering”, we now learn that Keller is joined by former DEC Alpha, PA Semi and until earlier this year Apple Director Peter Bannon.
Before Keller left Apple for AMD in 2012, he and Bannon were leading Apple’s processor development since the Cupertino-based company bought their chip making firm PA Semi in 2008. The duo lead the development of Apple’s A4 and A5 processors, which powered most of the company’s mobile devices from 2010 to 2012. Keller then left to develop the Zen architecture at AMD, but Bannon stuck around and developed several other chips for Apple until leaving for Tesla to join Keller last week. expand full story
Tesla Motors Stories February 22, 2016
Update: A reddit user hopped over to the new Tesla location, and it looks like the company already has a sign up. See the bottom of the post for the image.
According to a report from New York real estate news site The Real Deal, a Tesla store will be the anchor for a new office conversion in Red Hook, New York City. Sources for the site say that the Palo Alto company signed a lease for a new space of roughly 40,000 square feet that will serve as an office, a service center, and a showroom for the company’s many EV offerings…
Tesla Motors Stories February 19, 2016
Tesla is on-going some restructuring at the upper management level over the past few months, especially since long-time executive and Vice-President of Worldwide Sales & Services Jerome Guillen took a leave of absence last year, followed by Chief Financial Officer Deepak Ahuja’s retirement a few months later.
The automaker has since hired former Enservio CEO Jon McNeill as President Global Sales & Service and former Google VP of Finance Jason Wheeler as Chief Financial Officer.
Today Electrek has learned of the latest addition to Tesla’s upper management team: Karim Bousta, former GE Director and Symantec Vice President, now Tesla’s Vice-President of Global Services. expand full story
Tesla Motors Stories February 18, 2016
Tesla Motors recently acquired premium domain name ‘Tesla.com’ and it now forwards traffic to ‘Teslamotors.com’. The seller, Stuart Grossman from California, signed a non-disclosure agreement and therefore couldn’t disclose the amount he received to let go of the domain, but estimates range from high 6 figures to low 7 figures. expand full story
Like most luxury automakers, Tesla offers accessories made from automotive-grade leather, sometimes even leftovers from making the interior of its vehicles, which is an interesting way for the manufacturer to promote its brand while reducing upholstery losses.
The company rarely updates its collection since launching it in 2014 with travel bags, gloves and purses, but a few months back, the automaker added iPhone cases/wallets, and now we are told that Tesla added leather jackets to its ‘Design Collection’. expand full story
Tesla Motors Stories February 11, 2016
Tesla CEO Elon Musk finally released more details about the reservations process for the upcoming Model 3 launch and it gives us an interesting opportunity to discuss the implications of the vehicle’s introduction on Tesla’s limit for the $7,500 federal tax credit for electric vehicles.
We’ve heard some discussion in EV industry about the implications of GM advertising the Bolt’s pricing as “$30,000 after incentives” and in contrast, Tesla is talking about the Model 3’s starting price as being “$35,000 before incentives”. expand full story
Tesla Motors Stories February 10, 2016
As part of its shareholder letter posted ahead of its earnings call today, Tesla demonstrated its catastrophic affect on the US luxury car market with a simple table. If you start at the bottom, the market is at about 100,000 cars a year and it’s basically unchanged from 2014 to 2015.
The market is for “large luxury” cars and includes not only the Model S but Audi’s A7 and A8, BMW’s 6 and 7 series, the Jaguar XJ, Lexus LS Mercedes CLS and S Class and the Porsche Panamera. Each of these models has fallen in sales from almost 5%-over 15% from 2014-2015. Where did these sales go? expand full story
Tesla announced this evening that the Model 3 will be unveiled on March 31. No further details about the event were provided, but the company did reiterate that the mass market car is “on schedule for production & deliveries in late 2017.”
Tesla also mentioned, in its letter to shareholders, that installation of Model 3 production machinery will begin this year. expand full story
Tesla Motors Stories February 8, 2016
Building on the momentum Tesla is currently experiencing in Sweden with 271% growth in sales in 2015 based on registration data, the automaker is announcing an interesting partnership with Swedish electric utility Skellefteå Kraft to supply the Supercharger network in Sweden with 100% renewable energy and offer Tesla owners completely free charging at home. expand full story
Tesla Motors Stories February 7, 2016
Dragtimes has its first P90D Ludicrous 0-60/100 MPH video up and the numbers they got beat Tesla’s already impressive estimates… expand full story
Tesla Motors Stories February 1, 2016
In October 2014, Michigan Governor Rick Snyder signed a bill, which was initiated by the Michigan Automobile Dealers Association, to “clarify” an existing law banning automakers from owning or operating car dealerships in the state, ultimately forcing them to go through a third-party franchise model.
The new bill effectively banned Tesla from selling cars in the state due to the company’s direct sales model. Today we learn that despite the ban, Tesla applied for a dealership license in Michigan. expand full story