Strategy – Page 7127 – I wish I had more to offer

SecurityMatters, a portfolio company of Robert Bosch Venture Capital, is acquired by ForeScout Technologies

About RBVC GmbH Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and… Continue reading SecurityMatters, a portfolio company of Robert Bosch Venture Capital, is acquired by ForeScout Technologies

More Background On New Tesla Chair Robyn Denholm

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Published on November 8th, 2018 |

by Dr. Maximilian Holland

More Background On New Tesla Chair Robyn Denholm

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November 8th, 2018 by Dr. Maximilian Holland

As reported earlier today, Tesla has announced the appointment of Robyn Denholm to the chair of the board at Tesla, replacing Elon Musk who has been in the role since 2004. Denholm had already been an independent director on Tesla’s board since 2014 and has decades of experience in senior finance and strategy roles at auto, technology, and software companies.

The appointment follows Tesla’s recent settlement with the SEC, which set a timeline for putting in place an independent chair, whilst Musk remains in the role of CEO and largest investor at Tesla. Since January 2017, Denholm has been engaged as Chief Operations Officer of Telstra Corporation, and will transition out of that role and into the Tesla Chair role full time over the next 6 months.

Below, we highlight a few more aspects of Denholm’s career and invite your input on this change at the top.

Robyn Denholm

Denholm has a bachelor’s degree in economics and a master’s degree in commerce. She started her career at accountants Arthur Anderson & Co (1984–1989) before moving to Toyota Australia (1989–1996) in finance and corporate reporting roles.

She was with Sun Microsystems between 1996 and 2007 in finance and strategic planning roles, moving from the Australia offices to the US in 2001. Previous to her recent 2 years as COO at Telstra, from 2007 to 2016, Denholm was with Juniper Networks in the roles of CFO and COO.

As well as serving on the board at Tesla since 2014, she also served on the board of Swiss electrical equipment multinational ABB from 2016 to 2017, a notable cleantech leader in various ways.

Denholm has extensive experience in both finance and corporate strategy, areas of discipline that will be key to Tesla maintaining its lead in the energy transition in the coming years. Denholm’s strengths should prove complementary to Musk’s vision, creativity, and technological engineering talents.

Denholm released the following statement:

“I believe in this company, I believe in its mission and I look forward to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value”

Musk added:

“Robyn has extensive experience in both the tech and auto industries, and she has made significant contributions as a Tesla Board member over the past four years in helping us become a profitable company… I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy.”

What do you think of the appointment? Please share your thoughts in the comments.

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About the Author

Dr. Maximilian Holland Max is an anthropologist, social theorist and international political economist, trying to ask questions and encourage critical thinking about social and environmental justice, sustainability and the human condition. He has lived and worked in Europe and Asia, and is currently based in Barcelona.

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Mitsubishi committed to future PHEV development

Mitsubishi says its plug-in hybrid technology is essential to meet increasingly tough CO2 emissions regulations – and the next-generation Outlander PHEV will have an electric-only range of around 60 miles. The Outlander is currently the bestselling plug-in hybrid electric vehicle (PHEV) in the UK. While increasingly tough CO2 regulations are pushing several car firms towards pure-battery EV… Continue reading Mitsubishi committed to future PHEV development

SG’s ComfortDelGro to set up $100m VC fund to invest in mobility startups

November 9, 2018 Singapore’s largest taxi operator ComfortDelGro announced that it is setting up a $100-million corporate venture capital fund to focus on incubation and investments in mobility technologies and solutions that complement the company’s land transport business. The fund – ComfortDelGro Capital Partners (CCP) – will invest in startups that plug technology gaps, and… Continue reading SG’s ComfortDelGro to set up $100m VC fund to invest in mobility startups

Mubadala’s venture arm leads $60m round for US logistics startup Turvo

November 9, 2018 Abu Dhabi state fund Mubadala Investment Company, through its venture capital arm Mubadala Ventures, has led a $60-million funding round for California-based logistics platform Turvo, according to an announcement. The Series B funding round also saw participation from new investors G2VP and Next47, the Siemens-backed global venture firm. Existing investors Activant Capital, Felicis… Continue reading Mubadala’s venture arm leads $60m round for US logistics startup Turvo

Supersonic trains to be developed by Geely Holding and CASIC

The agreement will enable the two companies to together develop supersonic trains using Maglev technology and next-generation mobility technologies. Zhejiang Geely Holding Group (Geely Holding) has signed a strategic framework agreement with China Aerospace Science and Industry Corporation (CASIC) to cooperate on the development of supersonic trains and related technologies. Among the areas of technology… Continue reading Supersonic trains to be developed by Geely Holding and CASIC

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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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