Model 3 is rolling out of the factory and onto the roads, and so far owners are making happy noises. But can Tesla make a profit on its much-anticipated mass-market EV? The results of two recent teardowns suggest the answer is a resounding yes. Earlier this year, a group commissioned by German automakers dismantled several… Read more »
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As 2023 wanes, legacy automakers fall farther behind Tesla and BYD
Ever since Tesla’s 2003 founding, industry observers (and even the company’s own execs) have been predicting that the giant global automakers would respond to the new company’s challenge, produce their own compelling EVs, and surpass (or perhaps even acquire) the upstart. Two decades later, that scenario seems more unlikely than ever. As Tom Randall writes… Read more »
EV charging is changing, Part 2: No, NACS is not today’s Tesla connector
Part 1: How automakers’ disappointment in Electrify America drove them into Tesla’s arms Part 3: Why Tesla’s NACS is unlikely to kill CCS Part 4: Behind the scenes as seven automakers counter Tesla’s Superchargers EV charging is changing, but much remains to be settled A flurry of news over less than a year permanently altered… Read more »
Tesla is outselling Toyota in California
Tesla’s founders set out to sell “not just the best electric cars, but the best cars.” In several markets around the world, the company’s EVs have now become the best-selling cars. In Q2 of this year, Tesla had the two best-selling cars in California by a wide margin, helping to push the market share of… Read more »
Tesla to build Semis and expand battery production at Nevada Gigafactory
Tesla’s Nevada Gigafactory is quite a place—since its 2014 opening, the company has invested $6.2 billion in the region, and the 5.4-million-square-foot, 11,000-employee facility has produced some 7.3 billion battery cells, 1.5 million battery packs and 3.6 million drive units. Now Tesla has announced plans to invest an additional $3.6 billion, hire 3,000 more team… Read more »
Tesla earnings report—new EVs delayed, full speed ahead on humanoid robot
Tesla’s latest earnings report, for the fourth quarter and full year 2021, was another strong one. Deliveries grew by 87% in 2021, earnings per share and revenue each beat analyst estimates by over 6%, and the company claimed that it achieved “the highest quarterly operating margin among all volume OEMs…demonstrating that EVs can be more… Read more »
Tesla Q2 earnings report: record billion-dollar income, delays for Semi and Cybertruck
The headline figure of Tesla’s second-quarter 2021 earnings report was a blockbuster: $1.1 billion in GAAP net income, a new record for the company and an astounding success for a young automaker. The milestone was reached thanks to the soaring sales of Models 3 and Y—the former is now outselling many gas burners in several… Read more »
Tesla reports fourth consecutive quarter of profit, is now eligible to join S&P 500
Tesla can’t seem to take a wrong turn these days—the company announced a second-quarter profit that sent the stock price soaring, and cleared the way for the California carmaker to be added to the S&P 500 stock index. Tesla has now been profitable for a full year on a GAAP basis, which is one of… Read more »
Tesla surprises with Q1 profit, has “record backlog” of orders
Tesla has extended its earnings streak, posting a surprise profit in the first quarter, typically a tough one for automakers. The company reported record levels of production, and says its vehicle order backlog is the highest it’s ever been. “Q1 2020 was the first time in our history that we achieved a positive GAAP net… Read more »
Sandy Munro says the Tesla Cybertruck’s unorthodox design makes it cheap to manufacture
Sandy Munro, the auto manufacturing expert who delivered some detailed insights about Tesla’s manufacturing strengths and weaknesses after tearing down a Tesla Model 3, recently made some comments about the upcoming Cybertruck. Of course, Munro hasn’t gotten his hands on an actual Cybertruck (as far as we know, Jay Leno is the first non-employee to… Read more »