Tesla reported a loss of $702m for the first three months of the year and predicted another loss for the three months after. The electric car and battery maker said it would return to profit in the third quarter. It ended March with $2.2bn in cash, a reduction of $1.5bn in three months, largely down… Continue reading Tesla reports $702m quarterly loss
Category: Automotive
Meritor® Announces Contract to Supply All-Electric Drivetrain System for 38 Terminal Trucks at Port of Long Beach and Port of Oakland
All Meritor offices will be closed July 4, 2018 in observation of the holiday.
Tesla’s Musk ‘sees merit’ in capital raise, vows profit in third quarter after large loss
(Reuters) – Tesla Inc Chief Executive Elon Musk suggested on Wednesday a capital raise could be imminent, as the electric vehicle maker lost $700 million in the first quarter and predicted a return to profit in the third. FILE PHOTO: A 2018 Tesla Model 3 electric vehicle is shown in this photo illustration taken in… Continue reading Tesla’s Musk ‘sees merit’ in capital raise, vows profit in third quarter after large loss
Allison Transmission Reveals Fully Integrated Electric Propulsion System for Commercial Trucks
INDIANAPOLIS–(BUSINESS WIRE)–At the Advanced Clean Technology (ACT) Expo, Allison Transmission, a global leader in medium- and heavy-duty propulsion solutions for commercial vehicles, is introducing the new AXE Series, one of the most powerful e-axle systems for medium- and heavy-duty trucks in the world. A fully integrated electric powertrain system designed to fit inside a standard… Continue reading Allison Transmission Reveals Fully Integrated Electric Propulsion System for Commercial Trucks
Allison Transmission Unveils the Most Compact, Powerful Electric Propulsion Solution for Low-Floor Bus Applications
INDIANAPOLIS–(BUSINESS WIRE)–At the Advanced Clean Technology Expo, Allison Transmission, a global leader in medium- and heavy-duty propulsion solutions for commercial vehicles, is introducing the new ABE Series, the first e-axle advanced ultra-low floor electric bus powertrain system in the market. The ABE Series e-axles are one of the world’s most powerful and compact fully integrated… Continue reading Allison Transmission Unveils the Most Compact, Powerful Electric Propulsion Solution for Low-Floor Bus Applications
Elon Musk on taking Tesla private: ‘That ship has sailed’
Elon Musk would prefer if Tesla, which is known for its volatile share price and is among the most heavily shorted stock, were a private company, but acknowledged during an earnings call Wednesday that it wasn’t likely. Musk can dream, can’t he? “Unfortunately that ship had sailed,” Musk said flatly, in response to a question… Continue reading Elon Musk on taking Tesla private: ‘That ship has sailed’
Tesla plans to launch an insurance product ‘in about a month’
Tesla is developing an insurance product, which could be launched in about a month, CEO Elon Musk said during a call with analysts Wednesday following its first-quarter earnings report. “It will be much more compelling than anything else out there,” he said. Musk didn’t provide further details on what the insurance product might look like,… Continue reading Tesla plans to launch an insurance product ‘in about a month’
Despite a down quarter, Tesla is planning new products — including car insurance
Tesla CEO Elon Musk introduces the Tesla Semi truck and an updated version of the Tesla Roadster at a 2017 unveiling. (Tesla via YouTube) Tesla today reported wider-than-expected financial losses in the first quarter — due to what the company said were delivery challenges, a seasonal dip in demand and the unanticipated effects of pricing… Continue reading Despite a down quarter, Tesla is planning new products — including car insurance
UPDATE 6-Tesla’s Musk ‘sees merit’ in capital raise, vows profit in Q3 after large loss
(Reuters) – Tesla Inc Chief Executive Elon Musk suggested on Wednesday a capital raise could be imminent, as the electric vehicle maker lost $700 million in the first quarter and predicted a return to profit in the third. FILE PHOTO: A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai,… Continue reading UPDATE 6-Tesla’s Musk ‘sees merit’ in capital raise, vows profit in Q3 after large loss
Tesla solar installations slide 36 percent in first quarter
April 24 (Reuters) – Tesla Inc on Wednesday reported a 36 percent slide in solar installations and said it had implemented a new selling strategy months after ending a partnership to sell the rooftop systems in busy Home Depot stores. In its first-quarter investor letter, Tesla said solar deployments were 47 megawatts during the period,… Continue reading Tesla solar installations slide 36 percent in first quarter