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Tesla Announces Date for First Quarter 2019 Financial Results and Webcast

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Tesla Announces Date for First Quarter 2019 Financial Results and Webcast

Apr 11,2019

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Tesla Announces Date for First Quarter 2019 Financial Results and Webcast

PALO ALTO, Calif., April 11, 2019 (GLOBE NEWSWIRE) — Tesla will post its financial results for the first quarter of 2019 after market close on Wednesday, April 24, 2019. At that time, Tesla will issue a brief advisory containing a link to the Q1 2019 Update Letter, which will be available on Tesla’s Investor Relations website. Tesla will hold a live question and answer webcast that day at 2:30pm Pacific Time (5:30pm Eastern Time) to discuss the Company’s financial and business results and outlook.

What:
Date of Tesla Q1 2019 Financial Results and Q&A Webcast
When:
Wednesday, April 24, 2019
Time:
2:30pm Pacific Time / 5:30pm Eastern Time
Webcast:
http://ir.tesla.com (live and replay)
Approximately two hours after the Q&A session, an archived version of the webcast will be available on the Company’s website.

For additional information, please visit ir.tesla.com.

Source: Tesla, Inc.

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Audi e-tron Gets Delivered To 1st Customers While Battery Production Bottleneck Rumored

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Published on March 28th, 2019 |

by Zachary Shahan

Audi e-tron Gets Delivered To 1st Customers While Battery Production Bottleneck Rumored

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March 28th, 2019 by Zachary Shahan

Given that the LG Chem battery factory that supplies the Audi e-tron is basically in my backyard, I guess this one falls in my lap.

The German outlet br.de (h/t electrive) recently reported that production bottlenecks for the e-tron’s batteries are slowing down vehicle production. My understanding from rummaging around the garbage bins (or something like that) is that Tesla isn’t the only company to run into innumerable production challenges (fires included). I’m not collecting data on e-tron battery production rates, and wouldn’t share that if I was if it put any sources at risk, but suffice it to say that, even for the big boys, mass production comes with challenges.

As with countless other electric vehicle fans, I’m curious about Audi e-tron production and sales rates. This is supposed to be a big entry into electrification from Audi, and as much as I might think it doesn’t compare to a Tesla Model X (or Model Y), it is a pretty attractive vehicle with neat features. More importantly, it is critical that Tesla not be the only company with high electric vehicle sales. We need other automakers to succeed with electric vehicles.

Word on the street is that, even with the battery bottleneck, the waiting line for delivery is only 5 months long. Yes, 5 months is not super convenient when you need a new car tomorrow, but it’s not that bad when compared to other popular electric vehicles at around launch (any Tesla model and a few other models). At the end of the year, I’m afraid the e-tron will see approximately as many sales as the Model S or Model X. That’s better than most electric cars or SUVs, but it’s not exactly market-shifting at this point.

Audi, somewhat surprisingly when you consider how much money it and the rest of Volkswagen Group spend hyping coming products, is only rather quietly announcing the commercial launch of the e-tron. A few days ago, there was an announcement about the first customer delivery in Germany, but it was only on the German Audi media site. The global site doesn’t have a peep about it.

The first Audi e-tron was apparently delivered to a Norbert Münch last Friday, March 22 (photo evidence above). Norbert has been driving Audi vehicles for a whopping 18 years, so I assume Audi considered him a trustworthy buyer to highlight as an electric Audi early adopter. (There’s no way he’s going to switch to a Model Y in a few years, right?) That said, he reportedly got the first e-tron because he had the first reservation in during the livestreamed launch from San Francisco. (Yes, San Francisco, not Ingolstadt, which made it easier for CleanTechnica to attend the event and provide an early, thorough rundown.)

“The sporty design coupled with the long range make the car a companion suitable for everyday use,” says Norbert. Indeed. It is a great looking electric crossover with long range and some cool features. Via our own Sebastian Blanco, this is one of my favorites: “In Europe, the e-tron Charging Service will simplify drivers’ daily lives by combining 220 different operators and a network of over 72,000 public charging stations into one account, one contract, and one card. E-tron buyers will be able to test out the service with a free trial period to see if it does make their charging lives easier.”

Perhaps we’ll find a way to get a word with Norbert or another early e-tron adopter for a full review from an owner’s perspective. And if Audi can get its production rolling, perhaps we’ll secure an extended test drive of the e-tron before too long on at least one side of the Atlantic.

About the Author

Zachary Shahan Zach is tryin' to help society help itself (and other species). He spends most of his time here on CleanTechnica as its director and chief editor. He's also the president of Important Media and the director/founder of EV Obsession and Solar Love. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, and Canada.

Zach has long-term investments in TSLA, FSLR, SPWR, SEDG, & ABB — after years of covering solar and EVs, he simply has a lot of faith in these particular companies and feels like they are good cleantech companies to invest in. But he offers no professional investment advice and would rather not be responsible for you losing money, so don't jump to conclusions.

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Lyft beat Uber to the punch on Friday — the number-two ride hailing service in the U.S. was the first to go public, pricing shares ahead of the IPO at $72. The stock popped as much as 20% in the first minutes of trading, valuing the company at nearly $25 billion.

But Lyft is deeply in the red today, with a net loss of $911 million in 2018. During its road show, Lyft told investors that eventually, it expects to hit twenty-percent margins. The company just didn't say when.

A fierce competition

Uber, which is expected to go public next month, still commands greater market share than Lyft.

It offers rides on-demand in 65 countries and has a stake in Didi and Careem, which operate in Asia and the Middle East and North Africa, respectively.

Lyft is far behind Uber when it comes to coverage. In 2018, its geographic expansion focused on coverage in 95 percent of the U.S., and some new locations in Canada, filings ahead of its IPO disclosed.

Uber was also the first ride-hailing company to expand into services like food delivery and bike-sharing (via its acquisition of Jump in April 2018) which provide it with different revenue streams.

Lyft has been slower to diversify, although it has invested in other modes of transit as well. It bought Motivate in 2018, a bike-sharing company after Uber bought Jump, for example. It also offers scooters to riders looking for options beyond the car.

Lyft
Lyft has invested in other modes of transit including scooters and bike-sharing.

Uber is making plays in logistics with Uber Freight, short-hop air travel with Uber Air, and driverless taxis with its own autonomous vehicle division, Uber Advanced Technology Group.

Lyft is more focused, although it is starting book passengers into self-driving vehicles via a partnership with Aptiv. It hasn't talked about any plans for air taxis.

The race to profit

The next race will pit these ride-hailing players against each other in a quest for profitability, and the confidence of the public market investor.

D.A. Davidson senior vice president and research analyst Tom White says Lyft is doing well with some traditional sales and marketing efforts, and incentives that keep drivers and riders loyal to their platform.

Long term, he says, “There's the potential for autonomous vehicles and autonomous technology to basically reduce the amount of times Lyft has to pay a driver. And that could be a big, big lever for profitability.”

Uber's costly ambitions and lack of focus could challenge its path to profitability, he suggested. “One of the things we like about Lyft being a little smaller than Uber is the fact that they are more focused,” he said.

Lyft
Lyft says it has facilitated 35,000 rides in autonomous vehicles like this one

Head of research at Manhattan Venture Partners, Santosh Rao, told CNBC: “The macro market is good, IPO sentiment is good, so I think this is the right time to get out and they're doing the right thing.”

Others look at Amazon, which lost money for the first several years it operated as a public company, and Tesla, which has yet to record a profitable year, as examples of growth stocks that didn't always prioritize profits.

For those holding out to see an end to Lyft's losses before buying shares, one recent SIG report forecasts the company will become profitable…but it may take seven years.

WATCH:
Lyft begins trading on the Nasdaq at $87.24 a share

Watch the moment Lyft begins trading on the Nasdaq at $87.24 a share
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