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Posts Tagged ‘tesla news’

Mustang Electrified?

Ford counter-programs debut of the Tesla Model Y and hints of a high-performance CUV to come.

by Paul A. Eisenstein on Mar.15, 2019

“Hold your horses,” or so said Ford Motor Co. in a tweet not-so-coincidentally timed to reach the social media world just as Tesla CEO Elon Musk was getting ready to debut his company’s new Model Y battery-electric SUV.

The Ford post featured that short blurb and a blue version of the Mustang logo against a black background, nothing more. But it does hint at several projects that Ford has already confirmed are in the works. That includes both a hybridized version of the pony car, as well as a Mustang-influenced all-electric SUV that Ford announced during the 2018 North American International Auto Show in Detroit.

Electrifying News!

An early player in the electrification field, Ford has fallen behind not just Tesla but conventional rivals like General Motors and Volkswagen, both investing heavily in long-range, battery-electric vehicles, or BEVs. Ford officials say they are going to make a push to catch up and have confirmed that the first entry into next-gen electric technology would be a performance-oriented crossover tentatively named Mach 1 and due to market about when the Tesla Model Y hits the street about a year from now.

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As Tesla Model Y Debuts, Musk Asks: Do You Think We’re “S3XY”?

New Model Y to be offered in four distinct versions – but economy buyers will have to wait.

by Paul A. Eisenstein on Mar.15, 2019

The Tesla Model Y is likely to look quite familiar to fans of the earlier Model 3 sedan.

The long-awaited Tesla Model Y made its formal debut on Thursday night, with CEO Elon Musk declaring it takes an already attractive line-up and makes it “S3XY.” The inside joke adds the new electric SUV to the automaker’s existing line-up of Models S, 3 and X.

But there’s a serious side to the launch. Tesla continues to struggle to right its balance sheet, plunging back into the red this quarter after earning money during the second half of 2018. The Model Y is expected to become Tesla’s best-seller, Musk declared, telling his audience “we’ll do more Model Ys than S, X and 3 combined.” And that includes not just the U.S. but also China, where Tesla is struggling to get a foothold in the world’s largest market for battery-electric vehicles.

Breaking Product News!

The Model Y will be one of the vehicles Tesla plans to produce once it opens up a new plant in Shanghai later this year. That will give it a way to hold costs down and also to sidestep any escalation in the U.S.-China trade war.

(Here’s our Model Y preview. Click Here to see how close we came.)

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What to Expect When Tesla’s Model Y Rolls Out

New electric-SUV could double sales of Model 3.

by Paul A. Eisenstein on Mar.14, 2019

The Model Y debuts tonight and will be more expensive than the Model 3.

In a market where SUVs and CUVs have overwhelmed traditional sedans and coupes, there’s a yawning gap in the Tesla line-up that the upstart automaker intends to fill in the months ahead.

And the process will begin this evening when CEO Elon Musk pulls the wraps off the Tesla Model Y. Set to become the fourth product in the automaker’s portfolio, the battery-SUV could outsell all existing Tesla products combined, at least if a recent forecast by CEO Elon Musk proves accurate.

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“We will probably see higher volumes for Model Y than Model 3, (perhaps) double,” the 47-year-old exec said during a late January conference call with auto analysts and journalists. (more…)

Tesla Backtracks on Store Closures; Raises Prices 3% Instead

$35K Model 3 exempt from price increase.

by Michael Strong on Mar.11, 2019

Tesla announced it will only close half of its stores and offset that by raising prices 3%.

Tesla buyers looking to walk into a store to buy a new vehicle were disappointed recently when Chief Elon Musk said the company would close the stores to cut costs — now they can rejoice.

In a blog post, the company announced it would only close about half of the stores across the country, after a spate of negative feedback about the move initially.

News Now!

“Over the past two weeks we have been closely evaluating every single Tesla retail location, and we have decided to keep significantly more stores open than previously announced,” the electric carmaker said.  (more…)

Chinese EV Maker Niro Charged Up for Battery Swapping

Swapping dead for new is faster than recharging.

by Michael Strong on Mar.05, 2019

Chinese EV Maker Nio is swapping batteries instead of plugging them in to "recharge" them.

While most EV makers and battery producers scramble to find a way to reduce battery charging times, Nio – known as China’s Tesla – is taking a different approach by swapping batteries as a way of recharging in the same amount of time it takes to refill a gas tank.

Owners of Nio’s ES6 and ES8 sport-utility vehicles can already access the entirely automated battery swap service it calls “Power Swap. It’s already available in nine cities in China and it’s expected to grow to at least 40 by the end of this year.

News You Can Trust!

Basically, the driver enters a swap station and waits while an autonomous robot removes a vehicle’s drained battery and replaces it with a fully charged one. (more…)

Tesla Ready to Reveal Model Y, With All-Electric Pickup to Follow

But competition is heating up in both segments.

by Paul A. Eisenstein on Mar.04, 2019

Tesla CEO Elon Musk said the company will introduce the Model Y later this month.

Tesla will reveal the much-anticipated Model Y battery-SUV during a March 14 event in Los Angeles, with a “futuristic” all-electric pickup to follow later this year, CEO Elon Musk said in a series of tweets on Sunday.

The Model Y will be smaller than the current Model X, Musk confirmed, but larger – and more expensive – than the Model 3 sedan. But Tesla is betting that it could generate even more demand considering the ongoing market shift from passenger cars to light trucks.

Product News!

“Model Y, being an SUV, is about 10% bigger than Model 3, so will cost about 10% more & have slightly less range for same battery,” the 47-year-old Musk tweeted. (more…)

Musk Confirms Tesla Won’t be Profitable in Q1

Founder says "a lot going on" during quarter.

by Michael Strong on Mar.01, 2019

CEO Elon Musk said the company will lose money during the first quarter, but be profitable again after that.

Tesla’s tease made the $35,000 Model 3 a reality for the legions of fans who had been waiting for the entry-level model the company’s founder, Elon Musk, promised about two years ago.

And while the announcement sated many who wanted the lowest-priced Model 3, lost in the hubbub was a less promising announcement Musk made later in the call.

News You Can Trust!

“Given that a lot is happening in Q1, we do not expect to be profitable in the first quarter,” he said during a call with media and analysts. He quickly added that the company expected to return to profitability in the second quarter. (more…)

Tesla Now Selling $35K Model 3; Moving to Online Only Sales

EV maker closing all stores by end of year.

by Michael Strong on Feb.28, 2019

Tesla is now producing the $35,000 version of the Model 3. It can be ordered online – the only way to buy a Tesla now.

As is often the case with Tesla, it’s better late than never as the company announced Thursday its “Standard Range” Model 3 is now available for purchase.

The California-based EV maker had planned for this to be the case from the word go, but it began delivering the higher priced version of the Model 3 – as much as nearly $60K – about a year ago in an attempt to generate more profits for the company.

News Now!

“From the beginning, this has been the goal,” Musk said on a press call about the news. “It’s an incredible car.” (more…)

Tesla Boss Musk Teases Big Announcement

What's coming later today? Nobody really knows.

by Michael Strong on Feb.28, 2019

Tesla CEO Elon Musk plans to reveal something new at 2 p.m. Pacific Time today.

Elon Musk is creating more news. Fortunately, this time it won’t – or shouldn’t – involve the U.S. justice system.

Musk changed his name on Twitter to Elon Tusk and announced the company would be making an announcement at 2 p.m. Pacific Time today. He didn’t provide any other details, and has since changed his name back to Elon Musk.

News Now!

Naturally this sent followers, analysts and industry observers a buzz with anticipation. One analyst, Adam Jonas of Morgan Stanley decided to take a stab at what he thinks is coming later today on the webcast. (more…)

SEC Cites Musk for Contempt

“I do not respect the SEC.”

by Paul A. Eisenstein on Feb.26, 2019

Tesla's Elon Musk if facing contempt charges over some tweets about the Tesla's production plans.

Tesla CEO Elon Musk’s fondness for tweeting has already caused him serious problems, from lawsuits to the loss of his job as the automaker’s chairman, but he now faces the possibility a federal court could hold him in contempt for violating a settlement reached last year over his claims Tesla was getting ready to go private.

The Securities and Exchange Commission claims Musk violated the $40 million agreement the two sides agreed to last September that led to Musk relinquishing his post as Tesla chairman and agreement to have his planned tweets reviewed by the company before posting them. Regulators say they are worried that, as was the case last year, Musk could be using social media to mislead investors.

News Now!

The new allegations come at a challenging time for both Musk and Tesla. The company has now delivered a profit for two consecutive quarters but has warned it faces the prospect of tighter finances for the rest of the year. It is struggling to build sales in China and other overseas markets. And the latest dust-up between Musk and the SEC raises the prospect the South African-born executive could be forced out of his remaining management role. (more…)