Tesla – Page 2639 – I wish I had more to offer

Friday Morning Auto News, Jul 26, 2019

No-deal Brexit threatens UK car production, industry warns PM Johnson – Reuters: A no-deal Brexit is an existential threat to the British car industry and would risk output, a British car industry body warned new Prime Minister Boris Johnson on Friday.
After Nissan, a profit plunge at Renault too – Reuters: French automaker Renault cuts revenue goal after a weaker first half, a day after alliance partner Nissan announced big job cuts and earnings woes. Francis …
SpaceX successfully flies Mars prototype rocket for the first time – CNBC: SpaceX took a noticeable step forward in its development of a massive, next-generation means of space transportation.
Real-world benefits of car safety technology – Reuters: .comAutomakers are accelerating the rollout of technology designed to avoid crashes and improve road safety. Here’s a look at selected crash avoidance features, …
Renault CEO Bollore on Nissan Alliance, Collapsed Fiat Talks, Sales – Bloomberg: Renault SA Chief Executive Officer Thierry Bollore discusses the French automaker’s sales, its alliance with Nissan Motor Co., the collapsed talks with Fiat …

ABB Stock Dropped Because Auto Makers Aren’t Buying Enough Robots – Barrons: The stock dropped anyway, by about 2% in overseas trading, because the global automotive industry is weak. That isn’t a surprise. Automotive is the …
New auto safety technology leaves insurers in the dark – Reuters: Automakers are accelerating the rollout of technology designed to avoid crashes, but insurance companies are …
Editorial: Even car companies aren’t going along with Trump’s rollback of mileage and emissions standards – Latimes: President Trump is hellbent on rolling back the nation’s fight against climate change. But he’s increasingly going it alone. Even some of the companies whose …
Tesla Loses a Founder, and a Piece of Its Soul – Bloomberg: J.B. Straubel, the outgoing technology chief, says he’s taking a break before getting back to “building things.”
Wildcat Discovery, InoBat to build electric car battery line in Slovakia – Reuters: Slovak group InoBat and U.S. energy tech firm Wildcat Discovery Technologies will build a 100 million euro ($111 million) automotive battery production line in …
Woes at Maruti Suzuki underscore troubles in India’s car industry – FT: India’s largest carmaker, Maruti Suzuki, has recorded a 27.3 per cent drop in net profits in the April to June quarter, compared to the same period last …
Ford will ax Ka+ minicar in Europe – Automotive News: PSA Group’s Opel-Vauxhall unit has said it will drop its Karl and Adam minicars. PSA has also hinted that the Peugeot 108 and Citroen C1 might be …
Renault cuts revenue goal as car industry misery spreads – Reuters: Renault warned revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal.
Maruti Suzuki India June-quarter profit dives, but tops estimates – Reuters: IndiaMaruti Suzuki India Ltd on Friday posted a 27.3% plunge in its first-quarter net profit amid an industry-wide slowdown in demand, but beat market expectations.
Ford, BMW, VW, Honda reach compromise with California on emissions – Automotive News: The automakers reached an agreement on fuel efficiency rules with California, which accounts for 12 percent of U.S. vehicle sales.
China’s CATL to start battery storage business in Japan with Next Energy – Reuters: China’s electric vehicle battery maker Contemporary Amperex Technology Co Ltd (CATL) said it will start offering products to homes and plants in …
Renault cuts revenue goal after weaker first half – Reuters: Renault warned that revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal.
French carmaker Renault cuts 2019 revenue outlook – Reuters: French carmaker Renault on Friday cut its 2019 revenue outlook, on the back of falling demand and tough conditions within the automotive industry.
China will not set blanket winter output cuts for heavy industry – Reuters: China’s central government will not set overall output restrictions on heavy industry for the coming winter, but will direct local governments to set limits based on manufacturers’ emissions, the environment ministry said on Friday.
Renault Lowers Sales Outlook as Europe Auto Downturn Takes Hold – Bloomberg: Renault SA lowered its outlook for full-year sales as the French carmaker grapples with a downturn in the European car market and dismal results from partner …
As electric vehicle production ramps up worldwide, a supply crunch for battery materials is looming – CNBC: As car manufacturers ramp up production of electric cars, metals used to make the vehicles’ batteries may face a supply crunch, according to a new report.
China’s Pony.ai gallops up behind Google in driverless cars – Nikkei: China’s Pony.ai gallops up behind Google in driverless cars … China also maintains tighter restrictions on self-driving cars than the U.S., and there … a one-hour drive from the city center, and plans to expand the fleet to 100 this year.
Japan, US eyeing ministerial trade talks in Washington, DC on August 1 – Reuters: Japanese Economy Minister Toshimitsu Motegi is … and instead wants to prod the United States into cutting tariffs on auto parts.
SoftBank Forms $108 Billion Vision Fund 2 With Apple, Microsoft – Bloomberg: … two or three years to take advantage of opportunities to invest in cutting-edge technologies such as artificial intelligence and autonomous driving.

Polestar 2 Walkaround In London At World Tour: Video

Here is a quick look at the Polestar 2 exterior and interior. Polestar 2, the upcoming hot high-end model is currently presented in its anticipated biggest markets around the world (also in North America). Here we can take a look at the potential Tesla Model 3 competitor in London where What Car? did a walkthrough… Continue reading Polestar 2 Walkaround In London At World Tour: Video

Tesla Wants to Produce 1 TWh Of Battery Cells Per Year

The battery production puzzle gets more pieces every day. We have been collecting pieces of a puzzle on Tesla producing its own batteries every day. First, the company bought Maxwell Technologies in order to have access to its dry electrode technology for batteries. Then, we heard Tesla is in a consortium for nickel and cobalt… Continue reading Tesla Wants to Produce 1 TWh Of Battery Cells Per Year

European Tesla Gigafactory Production Should Begin In 2021 Says Musk

The location of Tesla’s European Gigafactory will be decided this year. Tesla has entered the final stretch of construction on the third Gigafactory located in Shanghai, China. Production costs are expected to be much lower for every Tesla Model 3 coming out of China. Despite this, European-bound Tesla production will not be coming out of this new factory. At… Continue reading European Tesla Gigafactory Production Should Begin In 2021 Says Musk

Tesla CTO and battery mastermind JB Straubel exits

At the start of a call Wednesday to provide guidance on Tesla’s record sales but $408 million loss in the second quarter, Tesla CEO Elon Musk dropped a bombshell: that its chief technical officer, JB Straubel, will be stepping down from his executive post.

Drew Baglino will take over most of the responsibilities held by Straubel, who will be transitioning to the role of senior advisor.

The departure of Straubel is a huge loss for the company. He’s considered a co-founder of Tesla, as well as an expert on energy storage and propulsion—and in many intents and purposes has been Musk’s partner in Tesla’s rise. The Stanford grad has been the mastermind behind key decisions made on Tesla’s power systems and battery technology—decisions that have given the company a continued advantage in efficiency and driving range after other companies have created rival electric models. To this day he's considered one of the world's top experts in vehicle battery tech.

Straubel's public role for the company that often played well with Musk’s zeal. He was composed and engaging, often chiming in on company calls or presentations with smart answers to technical points, provided some deep-dive insight on the company’s tech in blog posts, and was approachable, helping provide rides and demos at product events. In a 2016 speech, prior to the launch event for the Model 3 and the hundreds of thousands of advance orders to follow, Straubel said, “I never imagined that things would scale or grow as quickly as they have.”

Tesla Model 3 design prototype – reveal event – March 2016

But Tesla and its share price did grow quickly, and it earned him tremendous wealth. According to Bloomberg, Straubel has offloaded Tesla shares eight times in the past nine months, in transactions netting him about $30.1 million.

After Musk announced the change Wednesday, Straubel chimed in and said, “Yeah, it’s been a great adventure, 16 years.”

“And maybe just to add a bit more to that, I'm not disappearing,” said Straubel, who was in his 20s when the company started work on its Lotus-based Tesla Roadster. “I’m not disappearing, and I just wanted to make sure that people understand that this was not some, you know, lack of confidence in the company or the team or anything like that.”

Musk reminisced briefly about the first meeting he had with Straubel, at McCormick & Schmick's in El Segundo. “If we hadn't had lunch in 2003, Tesla wouldn't exist, basically.”

The initial premise of that meeting, Straubel has previously said, was to get Musk to financially support Straubel’s electric airplane project. Electric cars were looking like a long shot for a startup in 2003; perhaps electric airplanes may take off in the next decade, with Straubel the pilot.

Musk Completes Dizzying 360-Degree Turn on His Plan for Tesla’s Retail

For years, Tesla Inc.’s Elon Musk loved his chain of store and service centers. Quarter after quarter, the carmaker kept adding more, even waging legal battles to set up shop in states where dealers tried to block him.

7 Top Takeaways From Tesla’s Q2 Conference Call

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Published on July 25th, 2019 |

by Matt Pressman

7 Top Takeaways From Tesla’s Q2 Conference Call

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July 25th, 2019 by Matt Pressman

Originally posted on EVANNEX.

To recap the second quarter, Tesla issued its shareholder letter and held its quarterly conference call with Wall Street analysts. The news, as always, is a mixed bag. While improving over its $702M loss in Q1, Tesla still missed Wall Street’s expectations, posting a Q2 loss of $408M. Traders can expect a bumpy ride in the short term. That said, there were some highlights worth considering for those long-term TSLA investors.

1. Biggest Bank Balance Ever
Tesla generated $614 million of free cash flow in Q2. Combine that with the $2.4 billion raised in a public offering of equity and convertible bonds and the company ended the quarter with $5 billion in the bank — the highest level in Tesla’s history. “This level of liquidity puts us in a comfortable position as we prepare to launch Model 3 production in China and Model Y production in the US,” explained Elon Musk.

Photo by Cynthia Shahan | CleanTechnica

2. Record Deliveries of Model 3
Tesla produced 87,000 cars in the quarter and delivered a record 95,200 of them in Q2, generating about $6.3 billion in revenue. “Tesla is expanding at an exponential rate,” Musk said. And demand continues to be strong. The company noted, “Model 3 [was] once again the best-selling premium vehicle in the US, outselling all of its gas-powered equivalents combined.”

Model 3 takes off. Image by Zach Shahan | CleanTechnica

3. Less Emphasis On S & X
As focus moves to Model Y and Tesla’s Pickup, S and X sales have slowed. Musk believes many have been on the sidelines awaiting a refresh. “There may be a false expectation in the market that there’s, like, some big overhaul coming for S and X … like some radical redesign coming, which is why I emphasized publicly that this is not the case,” Musk explained. “The Model S and X today are radically better” than prior versions of the car.

Editor’s note: I have heard frequently for several quarters about expectations for a big Model S & X interior refresh. We never published about this because we never received solid evidence of it. However, it has seemed to me that many Tesla followers have been treating it as a given since at least sometime in 2018. I personally do not think a short tweet shooting down the rumor and a couple of notes on conference calls is enough to extinguish the expectations. I think Tesla needs to more explicitly and “loudly” explain that there is no big refresh coming. I’d package the information in a blog post about how much the S & X have changed over the years and how much better a 2019 Model S is than a 2015 Model S (something I can attest to from personal ownership experience). —Zach Shahan

4. China Gigafactory Progress
According to Tesla, the Gigafactory in Shanghai “continues to take shape,” and remains on track to begin production of a “Model 3 line with capacity of 150,000 units per year.” The company also said, “Given Chinese customers bought well over a half-million mid-sized premium sedans last year, this market poses a strong long-term opportunity for Tesla.”

Inside Tesla’s Shanghai Gigafactory. Image courtesy Tesla

5. JB Straubel Transitions
CTO JB Straubel will be “transitioning” to an advisory role after more than 15 years at Tesla. “I’m not going anywhere,” Straubel said during the call, adding he’ll work closely with Drew Baglino, vice president of technology, who’s slated to take over the roll. “I want to thank JB for his fundamental role in creating and building Tesla,” Musk said. “If we hadn’t had lunch in 2003, Tesla wouldn’t exist, basically,” Musk added.

6. Service and Supercharger Growth
Tesla stated, “we added 101 vehicles to our Mobile Service fleet and opened 25 new store and service locations… [and] Supercharger capacity has grown to roughly 1,600 charging locations worldwide.” Musk said, “Service scales not just with new production, but as the whole fleet” expands worldwide. And as demand grows, Tesla’s CFO Zach Kirkhorn explained a larger “focus on service and supercharging, as opposed to a retail presence.”

Tesla Model S, Model 3, and Model X charging at Tesla Supercharger in Florida. Photo by Zach Shahan | CleanTechnica

7. Tesla Model Y is on Track
Prep for Model Y production in Fremont is already underway according to Tesla. The company highlighted, “a significant overlap of components between Model 3 and Model Y, [therefore] we are able to leverage existing manufacturing designs in the development of the Model Y production facilities.” The outlook? Tesla stated, “Due to the large market size for SUVs, as well as higher ASPs, we believe Model Y will be a more profitable product than the Model 3.”

About the Author

Matt Pressman is all about Tesla. He’s a TSLA investor, pre-ordered the Model 3, and loves driving the family's Model S and Model X company cars. As co-founder of EVANNEX, a family business specializing in aftermarket Tesla accessories, he’s served as a contributor/editor of Electric Vehicle University (EVU) and the Owning Model S and Getting Ready for Model 3 books. He writes daily about Tesla and you can follow his work on the EVANNEX blog.

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Tesla To Produce More Than 100,000 Cars Per Quarter From Now On

To meet the guidance of 360,000 to 400,000 car sales in 2019, 200,000 need to be sold during the second half of the year. The second quarter was a record one for Tesla, with 95,356 deliveries (158,356 in H1). There are signs that it was the last quarter below 100,000 though. Currently, the Model 3 represents… Continue reading Tesla To Produce More Than 100,000 Cars Per Quarter From Now On

Thursday Morning Auto News, Jul 25, 2019

‘Not a lot to like’ – Analysts pan Tesla as the shares are slammed on poor results – CNBC: “We continue to believe Tesla is fundamentally overvalued but strategically undervalued,” Morgan Stanley said. “Overall, we doubt this quarter will …
Tesla Tech Chief’s Exit Is Latest High-Profile Departure – Wall Street Journal: In January, Tesla surprised investors when it announced during another earnings … Mr. Straubel outlasted Martin Eberhard, another founder of Tesla.
Tata Motors posts wider quarterly loss on weak JLR sales – Nikkei:
Diesel Chevy Silverado 1500 pickup blows past Ford F-150, Ram in mpg – Freep: “Any consumer looking for a fuel-efficient, powerful option can find one in the diesel option of America’s favorite vehicle, the pickup truck,” Diesel …
Eight Months After Ghosn’s Exit, Nissan Remains Stuck in a Rut – Bloomberg: A weaker Nissan means less clout for the carmaker in its alliance with … Saddled by aging car models such as the Juke and Murano, Nissan sold 6% …

Four automakers, California strike compromise on vehicle emissions – Reuters: Ford Motor Co, BMW AG, Volkswagen AG (VOWG_p.DE) and Honda Motor Co said on Thursday they have reached a …
Stocks making the biggest moves premarket: 3M, Comcast, Raytheon, Southwest, Tesla & more – CNBC: Names on the move ahead of the open.
Jaguar Land Rover posts £395 million loss due to falling sales – Autocar: Jaguar Land Rover recorded a £395 million loss in the last three months, due to declining sales and the impact of a planned Brexit shutdown – but …
VW Q2 operating profit rises 30% as utility vehicle push pays off – Automotive News: VW expects vehicle deliveries in 2019 to exceed last year’s figure and for revenues in the passenger cars and commercial vehicles divisions to grow at least 5 percent.
ABB cautions on China as robotics sales flag – Reuters: ABB Ltd (ABBN. … Demand for cars in Europe is 3.1% down in the year to date while Mercedes maker Daimler this week also …
DiDi, Toyota to set up JV for smart fleet management – Xinhuanet: The two parties announced collaboration on the e-Palette, a self-driving modular store in January 2018, and have piloted vehicle-related services for …
Tata Motors first-quarter loss nearly doubles – Reuters: Tata Motors Ltd reported a bigger quarterly loss on Thursday, as a slump in demand for cars continued at home, while plant shutdowns and delays resulting from issues arising due to Britain’s planned exit from the European Union also hurt earnings.
Earnings tumble at automakers, but VW defies the gloom – Reuters: More evidence has emerged of tough times for the auto sector following weak numbers at Ford, Nissan and Tesla. But Volkswagen is defying the …
Alphabet’s Sales Under Microscope After Last Quarter’s Debacle – Bloomberg: … year and updates on progress in hardware and Other Bets, which includes its self-driving car unit Waymo, according to UBS analyst Eric Sheridan.
The Little Hybrid That Could, and Still Can – New York Times: When Honda introduced the first hybrid vehicle in America, the 2000 Insight, there was technological wonder, but few would call …
Aston Martin Bear Says It Needs to Raise a Billion Pounds to Catch Up With Ferrari – Bloomberg: The only analyst with a sell rating on Aston Martin Lagonda shares says the luxury carmaker will need to raise at least a billion pounds ($1.25 billion) in *fresh* …
Aston Martin fails to sell Vanquish’s tooling, design drawings – Automotive News: Aston Martin has written off 19 million pounds ($24 million) after the sale of the tooling and design drawings of the automaker’s Vanquish …
China exports gasoline to Mexico, Nigeria amid overflowing output – Reuters: … confidence as the trade war continues, reflected also in slumping car sales, said … Gasoline demand growth is also sliding as Chinese automobile sales, … (GRAPHIC: China’s auto sales in 12 months decline – tmsnrt.rs/2MlLS4b).
India’s auto parts makers warn of 1 million job cuts if slowdown continues – Reuters: India’s auto parts industry could be forced to slash a fifth of its 5 million or so workforce if the slowdown in vehicle sales …
Nissan will cut 12500 jobs as Q1 profit nearly wiped out – Automotive News: Nissan said it is axing 12,500 jobs after reporting its quarterly profit was nearly wiped out, hurt by an aging product lineup and a slide in …
Volkswagen to boost SUV sales to 40% of total by 2020 – Reuters: Volkswagen expects the proportion of sports utility vehicle sales to rise to 40% by 2020, from 25% last year, Chief Financial Officer Frank Witter said on …
Nissan to cut 12,500 jobs, more than double initial plan – Nikkei:
Nissan Earnings Sees 99% Profit Plunge – Bloomberg: Nissan reports a 99% plunge in first-fiscal quarter operating profit. Bloomberg’s Dani Burger reports on “Bloomberg Markets: European Open.” (Source: …
Nissan to Cut 12500 Jobs as It Struggles After Ghosn’s Arrest – Wall Street Journal: Nissan Chief Executive Hiroto Saikawa is cutting costs as he seeks to … On Thursday, Nissan said it planned to cut global production capacity by 10% …
Nissan to cut 12,500 jobs as first-quarter profit nearly wiped out – Reuters: Nissan Motor Co said on Thursday it would slash 12,500 jobs globally by 2022 and cut output to rein in costs as it suffers from sluggish sales and rising costs and tries to recover from a scandal surrounding ousted Chairman Carlos Ghosn.
Volkswagen Has ‘Strong Foundation,’ CFO Says – Bloomberg: Volkswagen AG Chief Financial Officer Frank Witter talks about the automaker’s financial results and business outlook. Volkswagen’s second-quarter operating …
Toyota Invests $600 Million in Chinese Ride-Hailing Giant Didi – Bloomberg: Their partnership builds on an alliance Didi started last year with a coterie of carmakers including China FAW Group, Dongfeng Motor Group and …
Nissan’s Ignoring the Rot at Home – Washington Post: If you’re looking for a metaphor for how politics has swamped decision-making at Nissan Motor Co., look no further than reported plans to restructure …
Volkswagen first-half operating profit up 10% on higher Volkswagen, Porsche sales – Reuters: Volkswagen Group (VOWG_p.DE) on Thursday said its first half operating profit rose 10.3% to 9 billion euros ($10.02 billion), …
Toyota says to invest $600 million in China’s Didi, new joint venture – Reuters: Toyota Motor Corp said on Thursday it will invest $600 million ( £481 million ) in Didi Chuxing and a new joint venture, as part of an agreement to expand …
As Tesla losses continue, Musk points to global growth – Automotive News: Tesla CEO Elon Musk, after reporting a surprisingly large loss in the second quarter, pointed toward an eventual, if delayed, return to profitability and …
Tesla Breaks Records But Doesn’t Break Even – Bloomberg: Just before the Q&A portion of Wednesday evening’s second-quarter call, CEO Elon Musk announced that JB Straubel, the company’s veteran chief …
SpaceX stops test of Starship prototype rocket during surprise livestream – CNBC: SpaceX was attempting to fly its “Starship” prototype rocket in its first short flight of more than a few feet off the ground on Wednesday.
Space jam? Companies risk clutter, conflict in race for the skies – Reuters: Aerospace companies such as Musk’s SpaceX and Bezos’ Blue Origin are aiming to become the first private firm to launch a human into space.

Tesla co-founder J.B Straubel steps down as CTO, to become senior advisor

The long time executive in Tesla Inc. started his journey in the Palo Alto-based company shortly after made his first investment. New Delhi: Tesla co-founder J.B Sraubel has announced that he will be stepping down from the current role of Chief Technology Officer of the American elecric vehicle manufacturer, only to take a senior advisor… Continue reading Tesla co-founder J.B Straubel steps down as CTO, to become senior advisor