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 »
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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 »
Does Tesla’s latest patent have to do with its promised million-mile battery?
Last April, Elon Musk announced that a “1 million-mile battery pack” was in the pipeline. As a recent article posted on Forbes points out, today’s typical Li-ion battery packs are more than adequate for individual EV owners, but applications such as taxi services and long-distance trucking will require batteries optimized for longevity (according to writer… Read more »
Tesla Chief Designer Franz von Holzhausen talks EV design on Ride the Lightning podcast
It’s rare for any current Tesla exec whose name isn’t Musk to speak to the press, so Ryan McCaffrey pulled off a coup when he scored an interview with Tesla Chief Designer Franz von Holzhausen for his Ride the Lightning podcast. Holzhausen, the designer of Models S, X, 3, Y and the Tesla Semi, discusses… Read more »
Tesla non-pickup truck to be revealed in November
Tesla’s pickup truck is surely the most eagerly-awaited new vehicle since…well, Tesla’s last vehicle. Pickups are the biggest segment of the US auto market, and electrifying them will be a major, and necessary, turning point for EV adoption. Ford, GM and startup Rivian all have electric pickups in various stages of development, but Tesla is… Read more »
Frito-Lay manufacturing site to deploy electric trucks from Tesla, Peterbilt, BYD
Frito-Lay plans to make its Modesto, California manufacturing site, one of the company’s largest in the US, a “near zero-emission freight facility.” A grant from the San Joaquin Valley Air Pollution Control District (aka Valley Air) will cover half of the $30.8-million cost of the project. Frito-Lay will replace all its existing diesel-powered freight equipment… Read more »
Tesla closes on $2.7 billion in new debt and stock offerings
Tesla has a plethora of projects in the pipeline – the Tesla Semi, Model Y, the Tesla Pickup – and making these real will require vast sums of cash – as much as $2.5 billion in capital expenditures this year, according to Bloomberg. So it wasn’t much of a surprise when the company announced last… Read more »
Tough times for Tesla – Q1 earnings report lays out large loss
Tesla had a rough week. In its first-quarter 2019 earnings report, it described a loss of $702 million, or $4.10 per share – quite large even by Tesla’s standards, and greater than the $1.81 per share that Wall Street analysts (surveyed by FactSet) had forecast. Q1 revenue of $4.54 billion also fell short of expectations,… Read more »
Elon Musk fends off a shareholder challenge and answers his critics at Tesla meeting
As expected, a shareholder proposal to remove Elon Musk as Chairman was voted down at the company’s recent shareholders’ meeting, as was an attempt to get rid of three board members that some see as not sufficiently independent. Elon himself made a lengthy speech in which he addressed many of the current criticisms of the… Read more »
Next-gen Tesla Roadster will be the fastest car ever produced
The Tesla Semi promises to revolutionize the trucking industry, with unpredictable effects on our economy and society. But for lovers of electric speed, the big rig was upstaged at Thursday’s reveal event by a little surprise Tesla was hiding in the trailer. The new Tesla Roadster will be the fastest production car ever made. It… Read more »