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The new BMW M8 en route to series production.

Do you need help? Please contact our support team from 9 to 17 CET via support.pressclub@bmwgroup.com. PressClub Global · Article. Fri Nov 09 00:01:00 CET 2018 Press Kit From the race track to the road: the new BMW M8 Coupe (fuel consumption combined: 10.8 – 10.7 l/100 km [26.2 – 26.4 mpg imp]; CO2 emissions… Continue reading The new BMW M8 en route to series production.

Porsche Mission E Grand Tourismo prototype shown charging at 250kW (2x Tesla)

We’ve all been waiting for faster charging, because until now, Tesla’s been at the top of the heap with its ~120kW Superchargers which have pretty much plateaued since their debut 5 years ago. Porsche of course has been touting its 800V 350kW charging system for its Taycan and Mission E prototypes… Porsche deployed its first… Continue reading Porsche Mission E Grand Tourismo prototype shown charging at 250kW (2x Tesla)

AI to Neigh About: Magic AI Trots Out Horse Intelligence

Magic AI is galloping into the internet of horses arena. The Seattle-based startup, an angel-funded team of five, has been developing AI for stable managers and riders to monitor the health and security of horses from video feeds. Image recognition has been a boon to agriculture businesses, including those in the cattle industry. Magic AI… Continue reading AI to Neigh About: Magic AI Trots Out Horse Intelligence

Wintercontroledag!

Zaterdag 24 november a.s. bent u van harte welkom één van onze vestigingen te bezoeken voor de jaarlijkse Wintercontroledag en uw Canta en/of Brommobiel winter klaar te maken. Voor een Wintercheck aan huis (op afspraak) kunt u telefonisch contact opnemen met de service afdeling van de dichtstbijzijnde vestiging Tijdens de Wintercontroledag zijn er tal van… Continue reading Wintercontroledag!

Tesla Plans To Spend Up To $3 Billion A Year On Gigafactories Over Next 24 Months

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Published on November 8th, 2018 |

by Steve Hanley

Tesla Plans To Spend Up To $3 Billion A Year On Gigafactories Over Next 24 Months

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November 8th, 2018 by Steve Hanley

In its latest 10-Q filing with the SEC, Tesla says it is planning to spend big on upgrading Gigafactories 1, 2, and 3 — up to $3 billion a year over the next two years, in fact. It also says it expects to pay for most of that from current earnings. Here’s the relevant paragraph:

“Considering the pipeline of new products planned at this point, and consistent with our current strategy of using a partner to manufacture cells, as well as considering all other infrastructure growth and expansion of Gigafactories 1, 2 and 3, we currently estimate that capital expenditures will be between $2.5 to $3.0 billion annually for the next two fiscal years. Moreover, we expect that the cash we generate from our core operations will generally be sufficient to cover our future capital expenditures and to pay down our near-term debt obligations, although we may choose to seek alternative financing sources. For example, we expect that much of our investment in Gigafactory 3 will be funded through indebtedness arranged through local financial institutions in China. As always, we continually evaluate our capital expenditure needs and may decide it is best to raise additional capital to fund the rapid growth of our business.”

That part about Gigafactory 2 is interesting. GF2 is the factory near Buffalo, New York, where Tesla intends to produce its Solar Roof tiles. We haven’t heard much about that initiative in a while. Perhaps the company is finally ready to get serious about ramping up Solar Roof production? In the recent Tesla conference call, Elon Musk highlighted that it simply takes a long time to do appropriate testing for a roof product.

In addition to increased spending on its factories, Tesla also announced recently it intends to significantly expand its service network, particularly in places outside of major urban areas. That will take even more money. According to Electrive, the company says it is leveraging what it has learned about manufacturing to date to allow it to manage its money more wisely and efficiently. Here’s more from the 10-Q filing itself:

“In 2019, we expect to continue to increase the Model 3 production rate in our Fremont factory while needing only limited additional capital expenditures. As we continue to expand our existing manufacturing capacity, introduce new products, expand our retail stores, service centers, mobile repair services and Supercharging network, we will continue to utilize our increasing experience and learnings from past and current product ramps to do so at a level of capital efficiency per dollar of spend that we expect to be significantly greater than historical levels.”

Tesla is not resting on its Q3 laurels. Moving forward, the company is looking for ways to make every dollar available to it work as efficiently as possible to support its overall mission — driving the electric car revolution forward at the fastest possible pace. Tesla has a lot on its plate and still has plenty of detractors who think it is continuing to bite off more than it can chew.

New ideas always unsettle the status quo and invite negativity from those who wish things would just continue going along they way they always have. It’s human nature. One minute you’re Kodak or Polaroid or Xerox with a hammer lock on the market, the next minute you’re out in the cold looking in. It’s painful to fall from grace. But creative destruction is one of the bedrock principles of modern capitalism. And creative destruction is what Tesla does best.

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About the Author

Steve Hanley Steve writes about the interface between technology and sustainability from his home in Rhode Island and anywhere else the Singularity may take him. His muse is Charles Kuralt — “I see the road ahead is turning. I wonder what's around the bend?”

You can follow him on Google + and on Twitter.

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Heliox To Build Charging Infrastructure For EV Buses In Oslo

5 H BY MARK KANE Heliox to supply 9.8 MW infrastructure to charge buses in Oslo. Heliox received another big order for the electric bus charging infrastructure in Europe. This time it’s from Oslo, Norway, which next summer will have 115 electric buses, including 76 articulated. The company will supply the charging system fa or fleet… Continue reading Heliox To Build Charging Infrastructure For EV Buses In Oslo

3,000 Miles In A Tesla Model 3 Performance: Video

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Daimler and Bosch: San José targeted to become the pilot city for an automated on-demand ride-hailing service

Test area will be San Carlos/Stevens Creek corridor between downtown and west San José The on-demand ride hailing service app will offer an automated driving experience to a selected user community Stuttgart/San José. Located on the southern shore of San Francisco Bay in Silicon Valley, and with more than 1 million inhabitants, San José is… Continue reading Daimler and Bosch: San José targeted to become the pilot city for an automated on-demand ride-hailing service

Volkswagen plans to sell electric Tesla rival for less than $23,000: source

FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) intends to sell electric cars for less than 20,000 euros ($22,836) and protect German jobs by converting three factories to make the Tesla (TSLA.O) rival, a source familiar with the plans said. FILE PHOTO – A Volkswagen logo is pictured at the International Auto Show in Mexico City, Mexico November… Continue reading Volkswagen plans to sell electric Tesla rival for less than $23,000: source

UPDATE 1-VW plans to sell electric Tesla rival for less than $23,000 -source

FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) intends to sell electric cars for less than 20,000 euros ($22,836) and protect German jobs by converting three factories to make the Tesla (TSLA.O) rival, a source familiar with the plans said. FILE PHOTO – A Volkswagen logo is pictured at the International Auto Show in Mexico City, Mexico November… Continue reading UPDATE 1-VW plans to sell electric Tesla rival for less than $23,000 -source