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TESLA MOTORS EV STRATEGY

Headquartered in Palo Alto, California Tesla is the producer of the best-selling electric vehicle of 2015 and the biggest disrupter of the auto industry in the last century.The company only produces pure electric vehicles supported by its proprietary fast charging technology and infrastructure network. The company focussed on the biggest challenge to unlock the electric vehicle segment, range. The success of the company caught all its competitors off-guard. The effect Tesla has on the auto sector will be felt many years from now as more IT companies enter the sanctuary of the old guard. The company is just as much a battery manufacturer and IT company as it is an auto manufacturer. The Company does not use a dealer-based distribution model but owns and operates its network of showrooms.

The company targeted an annual battery capacity improvement of 5% and increased production of 500,000 per year by 2020. The Tesla business plan includes autonomous driving, in-car sales based on the in-app purchase model of smartphone sector and disrupting other transport and mobility segments.

SALES | NEWS

TESLA EV MODELS

TESLA ROADSTER

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2 Door Roadster EV

TESLA MODEL S

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Full Size Luxury EV

TESLA NEW ROADSTER

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TESLA MODEL Y

 

tesla-model-y

TESLA MODEL 3

tesla-model-3-ev

Compact Sedan EV

TESLA MODEL P

Tesla-Model-P

TESLA SEMI

 

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TESLA TYPE II

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TESLA EV SALES

Go to our detailed breakdown of Global EV Sales to see how the TESLA electric car strategy fares to its competitors in the fast-growing EV market.

GLOBAL EV SALES

TESLA ELECTRIC CARS IN THE NEWS

2017 Week 24 - Tesla talks to enter India progressing

Tesla, now the 4th largest automaker in the world by market cap, has been in talks with the Indian Government to establish production facilities in the Asian country. Tesla CEO Elon Musk provided further incites in the company’s plans for entering the potential growth market by tweeting  “In discussions with the government of India requesting temporary relief on import penalties/restrictions until a local factory is built.”

Tesla shares this week reached our target of $380 as per my forecast in Week 20, I hope you took advantage of the opportunity.

2017 Week 22 - Russian Oil denounces EVs and Tesla

 

As the electric vehicle sales in neighboring Norway climbed 30% year-on-year for the month of May the CEO of Russias largest oil company, Rosneft PJSC, Igor Sechin denounced EVs as overrated. Mr. Sechin was quoted by Bloomberg during a speech at the St.Petersburg International Economic Forum saying Tesla is overvalued and EVs are “not as popular as had been expected” in Europe’s biggest economies. Mr. Sechin went further saying “The market’s assessment of the prospects of electric car producers, in our view, is significantly overestimated,” and that “Until the electric transport industry becomes as user-friendly and attractive for consumers as the cars with internal combustion engines, the prospects for electric vehicles remain largely uncertain.” Rosneft that had 2015 revenues of nearly $100 billion market value was clipped by that of Tesla at the end of May 2017. Tesla shares were up nearly 60% for the year while Rosneft was down 20%.

2017 Week 22 - Toyota confirms it sold its historical Tesla stake

 

Toyota confirmed this weekend that it divested from Tesla as it exited the co-operating agreement the companies had on electric vehicle technology. Toyota acquired 3.15% in Tesla in 2010 for $40.5 million, a stake which would have been worth $1.75 billion at Friday’s close. According to the Japan Times Toyota announced that the sale of the stake, which happened in trances between October 2014 and the end of 2016, is “a part of a regular review of business alliances.” The partnership resulted in the development of an electric Toyota RAV 4, which was abandoned as the company changed course away from EVs to hydrogen fuel cell technologies.

2017 Week 20 - Where to next for Tesla’s share price after Morgan Stanley downgrade?

 

On the third of April, I predicted that Tesla’s share price will at least reach a first target of $320 after the breakout of the resistance at $290. This week Morgan Stanley analyst Adam Jonas, one of the pro-Tesla investment houses of late, downgraded its position to “equal-weight” from “overweight”, sending the stock down 3% and closing the week at $310.83 from a high of $325.22. The Morgan Stanley call is purely based on the Model 3 deliveries, which it now sees lower at a higher associated cash burn on R&D and Capex.

Tesla CEO Elon Musk also referred to the high share price in a telephonic interview this week with the Guardian where he was quoted saying “I do believe this market cap is higher than we have any right to deserve”. Before hitting the sell button it is important however to read Elon’s statement in the correct context, that investors price the share based on expectations not on past performance. The statement was made in a similar vein as a tweet by him in April on the topic where he responded “Tesla is absurdly overvalued if based on the past, but that’s irrelevant. A stock price represents risk-adjusted future cash flows.”

Technically I still hold out that there is more in the share price and that the count in the breakout formation at $290 in April can see the price go as high as $400, but at least $380 with a stop loss at $285. Should the stock fall through $285 look for buying opportunities again in the lower $200’s. Fundamentally, however, it all boils down to Tesla’s ability to surprise the market on Model 3 deliveries, which everyone and its dog seems to doubt. Watching the recent Ted interview of Elon Musk and listening to the Skype interview of Tom Mueller, Chief Propulsion Technology Officer at SpaceX, with a group of astronomists at the New York University Astronomy Society my money is on Tesla surprising the market on the upside, barring no technical issues arise in the new plant. Read extracts from Tom Mueller interview below and decide for yourself.

And now we have the lowest-cost, most reliable engines in the world. And it was basically because of that decision, to go to do that. So that’s one of the examples of Elon just really pushing— he always says we need to push to the limits of physics. Like, an example I’ll give is, on the car factory; you know, a car moves through a typical factory, like a Toyota or a Chevy factory; a car is moving at you know, inches per second. It’s like, much less than walking speed. And his thoughts are that the machinery, the robots that are building the car should move as fast as they can. They shouldn’t be moving so fast you can’t see them. That’s why you can’t have people in there, because they’d get crushed; people move too slow. That’s the way he thinks. “So, what are the physical limits of how fast you can make a car?” He looks at videos of like, coke cans being made, and things like that, where you can’t even see them; it’s just a blur. And, you know, the puck of aluminum, cut it up, deep-draw, fill it with coke, you put the lid on, you put the lid on it; it’s just like going down the assembly line so fast you can’t even see it. And Elon wants to do that with cars.

That’s just the way he thinks. Nobody else thinks that way. And that’s why he’s going to kill the industry; cars also. Because it’s just going to make these cars— basically, you can make, you know, ten times as many cars in the same size factory if you do it that way. And that’s, you know, the major cost of the car is not the material in the car; it’s the factory that builds the car. So that’s the way he thinks. He looks at it from first principles, like “Why does a car cost so much to make?” Well, you’ve got this gigantic piece of real estate, and all these employees in this gigantic building; and you can only make so many cars in this building. You need to make more cars in the same building with the same number of people. And that’s what they’re working on at Tesla.

itesla share price 19 may 2017

2017 Week 18 - Tesla’s shares retreats after hitting our target

Tesla shares early in the week hit the target of $320 we predicted on the 3rd of April after which it came back to test the breakout when the company announced a loss of $322m for the quarter despite more than doubling revenues. Interestingly enough if you list GM, Tesla and Ford’s market cap and total units sold it seems that investors are valuing the three top brands in the USA on their EV unit sales only.

We picked up in the fine print of the release that Tesla will add a 100 retail, delivery and service locations during 2017 globally, representing a 30% increase. The company will also add 100 Tesla Ranger mobile repair trucks during the second quarter. The production of 5,000 Model 3s per week is still on track to commence in July.

2017 Week 17 - Tesla shareholder to unveil its own electric vehicle

Tencent-backed Future Mobility is set to unveil its concept vehicle this year with the intent on starting production in 2019. Tencent recently acquired a significant stake in Tesla by purchasing 5% of the US companies stock in the open market, making one wonder how it will impact on the investment with which it aims to compete. The concept vehicle is said to be a midsized SUV priced around $45,000. Chinese internet companies such as Tencent and Baidu are increasingly becoming active in the vehicle market as the bounds between cars and vehicle are falling away. Baidu introduced it’s Appollo self-driving platform last week, opening it up to developers to join in its development.

2017 Week 16 - Tesla recall a buying opportunity

Tesla this week announced one of its largest voluntary recalls for 53,000 manufactured between February and October 2016. The recall is due to a fault in a third-party supplied component, potentially resulting in the handbrake not releasing. The recall is not viewed as negative and hardly had an impact on the share price as the company closed near its record price of $307.71 set earlier the week, still very well on the way to our first target of $320.
Tesla’s announcement that it would unveil its Semi-truck in September had analyst very excited, speculating that it would add billions to the companies bottom line and disrupt the sector. The company is expected to lease the batteries at $0.25 per mile saving trucking companies the $0.50 fuel charge.

2017 Week 14 - NAVIGANT RESEARCH DISCOUNTS WAYMO AND TESLA AUTONOMOUS EFFORTS

Navigant Research placed Ford and GM at the top of its autonomous driving leaderboard, surprisingly far above Waymo (7th), the pioneer of autonomous driving. Waymo was only listed as a contender, and Tesla who has already clocked over 300 million miles in Autopilot (Level 2 Autonomy) did not make the Top 10 list. Waymo, not aiming to develop a car, but rather focusing on autonomous technology has partnered with Chrysler and Ford on testing autonomous technology. Making Navigant’s findings even more surprising to us is that Waymo performed exceptionally well compared to other automakers on the list when comparing across all permit holders allowed to test autonomous tech on Californias public roads. According to CA DMV regulations, each permit holder must annually file a disengagement report, reflecting the number of events where a driver essentially has to take over from the vehicle’s autonomous mode to either prevent a traffic incident or where the system fails. Waymo posted a record 0.2 disengagements per 1,000 miles in its 2016. For a breakdown of each permit holders testing in California read our recent blog providing detailed analysis

Navigant’s criteria are based on the following ten factors; vision, go-to-market strategy, partners, production strategy, technology, sales, marketing, and distribution, product capability, product quality and reliability, product portfolio and staying power. The Top Ten on Navigant’s list are Ford, GM, RenaultNissan Alliance, Daimler, Volkswagen Group, BMW, Waymo, Volvo/Autoliv/Zenuity, Delphi and Hyundai Motor Group.
Despite Tesla aiming to have a market ready Level 5 autonomous product by the end of the year, it is only listed as a contender. Tesla is criticized by some, for being too aggressive, using its customers as guinea pigs for its AutoPilot software. Not surprising though is that Uber features on the bottom end of the list, the controversial ride-hailing company has been in the news lately for losing its right to test in San Francisco, being sued by Waymo and a crash in Tempe, Arizona, temporarily halting its pilot program.

2017 Week 13 - Tesla confirms Tencent acquired 5% in the company.

A large Chinese Internet company, with holdings in various electric vehicle companies, have acquired a significant stake in Tesla. The acquisition was made by accumulating stock over time. Tesla (TSLA) shares traded higher by around 2.2% at $276.25 in after-hour trades, bringing it closer again to the $280 all-time high resistance level.

Tencent mentioned is owned by the world’s 46th richest person, Ma Huateng of China, also know as Pony Ma. Tencent, which applications include the popular WeChat app, similar to WhatsApp, aims to leverage its tech experience in a world where connectivity and the Internet of Vehicles will drive the auto industry. The development of electric vehicle technology provides a perfect platform for tech and vehicles to meet. To this end, Tencent created a company Future Mobility and targeted an autonomous vehicle by 2020. Tencent is also a shareholder in NextEV. NextEV’s NIO brand unveiled its autonomous vision a couple of weeks back at an event in Austin Texas.

Interestingly enough, the result is that a South African company, Naspers, is now an indirect shareholder in Tesla, a company founded by native South African, Elon Musk. Naspers currently holds around a 34% shareholding in Tencent; the company made its investment in Tencent when it was a little-known start-up in 2001. At the time Naspers invested $34m for 46.5% in Tencent.

2017 Week 11 - Tesla raises capital while retiring the P60

Tesla retires its Model S P60 while the company raises $1.4billion to fund the manufacturing of the Model 3. Tesla announced this week that it would retire the 60kWh battery and upgrade all existing orders to the 75kWh model. Filings with the SEC showed the capital raising for the Tesla Model 3 was done through a stock sale for $350 million at a price of $262 per share. The balance of $850 million was raised through the issue of convertible notes.

2017 Week 11 - Tesla's old partner Mobileye sold for a stagering $15.3 Bln

Intel acquired the Israeli autopilot company, Mobileye for an incredible $15.3 billion. Mobileye partnered with Tesla on its first generation Autopilot but had a very public fallout round about the time of the first fatal crash in a Tesla Model S using Autopilot. At the time the CEO of Mobileye criticized Elon Musk for being too aggressive with the implementation of autonomous systems.

2017 Week 9 - Tesla gets approval to sell in Wyoming

Some policy gains were made this week in support for electric vehicles in the ongoing tussle targeting regulations for and against the technology. New York will from the 1st of April 2017 provide a $2,000 incentive to buyers of electric vehicles. In Wyoming, despite efforts by the Alliance of Automobile Manufacturers backed by Ford and GM to block Tesla from opening its direct sales business, the State Legislature this week approved a bill allowing Tesla to open its showrooms and sell vehicle’s without the use a middle man.

2017 Week 9 - USA February EV sales, Tesla in 2nd position

February Electric Vehicle sales data released for the USA this week reveals some interesting talking points. Overall, February sales gained a further 13.4% in January 2017 and over 55% on year on year basis. Contributors to the increase came from a nearly doubling in sales of the Tesla Model S and continued demand for the new Toyota Prius Plus. Unfortunately, the Prius in our books hardly counts as an electric vehicle due to its underwhelming continued reliance on its combustion engine. Disappointingly, sales for the Chevrolet Bolt declined over 18% from January, bringing total sales for the four months to 3,272 units, far short if one takes that at a claimed 30,000 units per annum the Bolt should have sold 10,000 units during the four months. In the car maker standings, GM retained its lead with 2,776 units over Tesla’s 2,550 units with Ford taking third place with 1,704 units.

2017 Week 7 - Tesla Sees Commercial Level 4 Automation by end of the year
  1. This week Tesla CEO Elon Musk commented on the disruption of self-driving cars to the sector during the World Government Summit in Dubai. Mr. Musk was in Dubai for the launch of Tesla in the Emirates. His comments indicated that Tesla would have its first Level 4 Autonomous system available by the end of 2017. The disruption is significant to the auto sector since once a self-driving car is available, it will devalue new cars without the technology. According to Mr. Musk, the disruption will be slow initially but that in ten years from now all new cars will have the capability to be autonomous. It’s significant that Mr. Musk made the comments at a Government Summit as regulations, not technology seems to be the biggest hurdle at the moment. Wil technology force the pace of Governments? We sincerely hope so.

2017 Week 5 - Public opinion misguided by Trumps inclusion of Elon Musk on his advisory council

 Public opinion and consumer boycotts are driving the composition of President Donald Trumps advisory council with Uber’s CEO Travis Kalanick this week resigning his seat on the council amid call to delete the Uber app. Some shortsighted Tesla owners are now also asking their deposits back for the Model 3 due to Elon Musk’s position on the council. Elon, this week in a tweet, explained that his position should not be seen as a support for Trumps policy’s but rather as an opportunity to influence the causes that Mr. Musk believes in, such as electric vehicles and his Mars project.

 

2017 Week 5 - Scotland Yard to build a green fleet of police cars.

To support the new Mayor of London, Sadiq Khan’s efforts to combat air pollution in the city the London Metropolitan Police Service, also know as Scotland Yard launched a new green fleet of over 250 new energy vehicles by the end of the year. Tesla and other automakers have been approached to trail their new energy vehicles for front line operations as part of the first phase, which would eventually see the overhaul of Scotland Yards fleet of 4000 vehicles.  

 

2017 Week 3 - Tesla's battery pack behind the first electric car to complete Dakar endurance rally

An electric vehicle finished the grueling Dakar Rally in South America for the first time this week. The Acciona 100% EcoPowered rally car finished the 5,600 miles after the third attempt at the title. The team sponsored by Acciona, a Spanish Renewable Developer, has spent five years fine-tuning the vehicle which includes a 100-watt solar panel and Tesla battery pack. The Acciona 100% EcoPowered has a 200 km (125 miles) range in race conditions powering a 250kW electric motor providing 800nm of torque. The vehicle achieves a top speed of 150km/h (94mph).

2017 Week 3 - Tesla exonerated for May 2016 fatal crash with truck

The National Highway Traffic Safety Administration concluded its report on the fatal accident of a Model S in “autopilot” with a truck back in May 2016. The US NHTSA’s report exonerated the company and found no defect or reason for a recall. The agency’s findings collaborated the company’s claims at the time that the autopilot made driving safer, as it found that the crash rate of the Tesla decreased by 40% after introducing the Autopilot’s Autosteer feature.

The main conclusion of the report is:

  • Driver Assist Systems “require the continual and full attention of the driver to monitor the traffic environment and be prepared to take action to avoid crashes.”
  • Urges drivers to read all instructions and warnings before using the ADAS systems.

In other Tesla-related news, the company’s share price increased 4% after a Morgan Stanley report on sales for the anticipated release of the Model 3, putting some hurt on the big short positions entered in recent months against the company.

2017 Week 3 - Tesla's efforts lauded for accelrating EV technology

A report just released by the Californian Air Resouces Board indicated that advancement in electric vehicle technology is happening at a much faster pace than anticipated five years back. The report highlights the efforts by Tesla and Chevrolet to bring affordable and long range vehicles to the market. The report found expanding charging networks, advancements in battery performance, decreasing cell costs, and the number of models available to the consumer as factors for the improved results. On the other hand, the Board states that not all automakers attack the challenges with the same vigor, with Honda and Fiat Chrysler named as company’s that just do the bare minimum to comply with regulations. We predict this will reflect in the various companies share prices five years from now when the next report take the pulse of the sector.

2017 Week 3 - Panasonic and Tesla expand co-operation

Panasonic announced it’s intention to extend it’s already significant partnership with Tesla beyond just batteries, and in particular to autonomous technology such as sensors. The Japanese technology company’s strategy had changed markedly towards the auto sector after it’s initial partnership with the Tesla in the early 2000’s when the automaker was just a start-up.

2017 Week 2 - Tesla bags two executives from Apple

Tesla bags two senior executives from Apple. The world’s leading electric vehicle manufacturer this month acquired Chris Lattner, responsible for Apple’s Swift application software head, and Matt Casebolt, senior director of Design for Apple’s Mac range and listed on over 50 Apple patents. Matt is filling the position of Senior Director Engineering, Closures and Mechanisms at Tesla, while Chris’s experience in leading an over 200 strong engineering team would stand him in good stead as Vice President of Autopilot Software.

2017 Week 2 - Tesla excluded from governments Automation Committee overseeing self-driving cars

The USA Department of Transportation this week announced the formation of an Automation Committee to oversee its self-driving policy, with Tesla, a clear leader in the sector not on it. Self-driving vehicles and electric vehicles are not necessarily mutually inclusive as the technology could be applied to all drive trains. However, the appointment of GM CEO Mary Barra as Co-Chair of the committee could be a clear indication of which tail is wagging the dog. GM recently opposed the new EPA emission requirements of 54.5 mpg by 2025. Follow the link for the complete list.

2016 Week 52 - Missouri cancels Tesla's dealership license

In another attack on Tesla by the old guard, as the State of Missouri rejected its dealership license renewal. The reason being a ruling by Circuit Judge Green in a case brought against the Missouri revenue department by the Missouri Auto Dealers Association for allowing the license in 2015. Tesla prefers to use a direct sales model due to the notorious inability of traditional dealers to sell electric vehicles. Tesla will be forced to close shop in the State come January the 1st 2017.

 

2016 Week 51 - Tesla tops Consumer report survey

Tesla voted the consumers darling in the Consumer Reports Annual Owner Satisfaction Survey with 91% Tesla owners responded with a “Definitely yes” when asked if they will buy the brand again. Second with only 84% was Porsche. The bottom quartile included brands such as Jeep, Nissan, Fiat, and Volkswagen, which dropped eight places. The survey included over 300,000 vehicles. Can the States who is refusing Tesla’s direct selling model, naysayers, and auto dealers refusing to get behind electric vehicles please respond to this? For the complete list follow the link.

2016 Week 51 - China Considers opening electric vehicle manufacturing to foreigners

 

  1. In a bid to fast-track its electric vehicle strategy in an effort to curb pollution, the Chinese Government has called for comments on a proposal to invite foreign automakers to manufacture in the country. Current laws are designed to protect local manufacturers by forcing foreign companies to partner with the local automakers. The Chinese Government now propose to relax these conditions for new energy vehicles, providing the likes of Tesla an opportunity to produce locally and protecting their technology by not having to share it with a local partner.

2016 Week 44 - Easter Egg surprise to unlock full P100D performance

1. Based on a tweet by Elon Musk on the 4th of November, it seems that Tesla is using gamification techniques in its product design. Mr. Musk tweeted – “Forgot to mention there will be a P100D Ludicrous Easter egg soon that uncorks the full performance.”

2016 Week 42 - CNBC news report on Model 3 sends Tesla shares tumbling

1. The Tesla Model 3 made the news this week, first through a badly reported CNBC newsflash sending Tesla’s stock down over 2% in a matter of seconds. CNBC misreported an announcement on Tesla’s website, which indicated that if you decide to place an order for Model 3 now that you would only receive a vehicle late 2018, as the company fulfills its pre-orders starting late 2017. The CNBC report stated that Tesla moved the Model 3 launch date to late 2018. In other news, Elon Musk shined more light on the Model 3 during a special briefing on the 19th. Mr. Musk unveiled the companies new Autopilot 2.0 for the Model 3, Model S and Model X. The new suit provides Level 5 Autonomy which includes 360 degrees coverage.

2016 Week 39 - Paris Auto Show

1. For the first time at an international auto show, electric vehicles took center stage at the Paris Auto Show this week, overshadowing new reports of Tesla autopilot crashes, refuted by the company. The prominence of electric vehicles at the show confirms the shift towards the segment. Most of the front runners in the segment were presented there and used the opportunity to unveil new models, such as the Opel Ampera-e, which is the Chevrolet Bolt badged for the European market. VW unveiled its ID concept vehicle and Renault the Trezor.

2016 Week 38 - Tesla Model S Hacked

2. A Chinese company, Keen Security Labs, this week announced that they were able to remotely hack a Tesla Model S. The ability to hack and control a connected car creates the concern that vehicles could be controlled into oncoming traffic or other malicious acts. Keen Security is owned by Tencent, the Chinese social media, and tech giant who is also invested in electric vehicle ventures such as NextEV and Future Mobility. The “hackers” informed Tesla of the weakness and a patch has already been updated to all models. Other Tesla news this week follows up on our prior reports of the company’s ongoing spat with Michigan state to acquire a dealership license. Tesla this week filed papers to sue the State, including the Governer to allow it a license for direct selling off its vehicles.

2016 Week 37 - Autopilot v8.0 and Mobileye

 

1. In his first Tesla news conference and Q&A in many months, Elon Musk announced a whole host of upgrades to its Autopilot software. The new upgrade, Tesla v8.0, benefits from improvements in its supplier Bosch’s radar technology which would aid the front camera in identifying obstacles, such as the truck that caused the fatal crash in May this year. The debate about how the market leader rolls out its autonomous driving technology is not going away, with the war of words between the company and it’s now ex-supplier of its collision avoidance software, hotting up. Mobileye’s Chairman this week criticized Tesla for pushing the envelope regarding safety. Mr. Musk on the other hand in his Q&A declared that the new software is a 3x improvement and reiterated tests that the Tesla Autopilot is 50% safer than manual driving. On the subject of safety EM is quoted:

“I want to emphasize: this does not mean perfect safety. Perfect safety is really an impossible goal. It’s really about improving the probability of safety – that’s the only thing possible.”

On the 14th of September Tesla announced that the split between Mobileye and the company is based on its desire to build its driver assistance capability in-house.

 

2016 Week 34 - Model S P100D

 1. The biggest news of the week is the much-anticipated launch of the Tesla 100kWh battery. The battery upgrade allows for increased range and speed, making the Model S P100D with Ludicrous mode the fastest production car on the road, reaching 0 – 62mph in just 2.5 seconds. Be prepared with a whole lot of Youtube videos showing the Tesla Models S, seating five adults, two children, and luggage and costing around $91,000 beating anything from a Ferrari to a Porsche Spyder costing close to $1M. The Model S upgrade has a range of 315mi and the Model X SUV 289mi.

 

2016 Week 32 - Dutch Governemnt and P100D

 1. The Dutch Government approved a 100kWh version of both the Tesla Model’s S and X this week, providing the models with ranges of over 380 miles for the Model S and 300 miles for the Model X. The company has made no announcement on when we can expect the first production versions or what the cost would be, but it’s safe to say that with the speed at which the company brings new technologies we can expect not to wait too long. The increased range will be another nail in the coffin of gasoline powered vehicles. Tesla also opened its largest and flagship store on Van Ness Avenue in San Francisco; the 65,000sq foot store is currently the companies second largest after Oslo.

 

2016 Week 31 - EV Sales

 1.In other sales related news, EV Obsession reported that the electric vehicle sales in the USA increased 48% year-on-year for the month of July with a total of 13,102 units sold. Citing Zero Emission mandates starting to take effect and sales efforts by Tesla, who sold 3,800 units in the month. Plug-in Electric Vehicle sales represented nearly 1% of all vehicles sold in the USA for the month.

2016 Week 30 - Microbus

1. Tesla confirmed that it would develop a VW Microbus like electric vehicle, based on the Model X drive train. The announcement was buried in the recently released Master Plan Part Deux by founder Elon Musk. Better know as the VW Combi, the microbus achieved cult status within the California surfing community.

2016 Week 29 - Masterplan V2

 1. Tesla grabbed the headlines again this week with the release of Elon Musk’s Masterplan V2, an update to the 2007 plan that was the foundation of the company’s current dominance and success. The Master Plan V2 included the announcement of a Tesla Semi, shared mobility, and autonomy. The controversy surrounding the Auto Pilot death still lingers with various support opinions citing how many accidents have been avoided with the technology and counterclaims that the sample data for the Auto Pilot is not comparable in size. Claims were also made about Tesla covering up details of a non-fatal crash in Montana; the ensuing social media war, however, favours Tesla. In other news, Tesla announced that it upgraded its Super Charger capacity to 145kW, up 10kW from before and Elon Musk expressed that he was positive about the prospect of the Tesla Solar City tie-up after his meeting with large investors this week.

2016 Week 28 - India

 

1. The Times of India reported that National Transport Minister, Nitin Gadkari visited Tesla in San Francisco to promote a Joint Venture on electric vehicles and laying the road for the company to enter the Indian market.

2016 Week 27 - Missed Sales targets / Panasonic

 

1. The company missed its Q2 target of 17,000 units and delivered only 14,370 units, slightly down from Q1’s 14,820, bringing the year-to-date total to 29,190. The company sighted an “extreme production” ramp where half of the quarters vehicles were produced in the final 4 weeks of the quarter. The California-based company adjusted its guidance slightly down to just below 80,000 units.

2. Lithium-Ion battery manufacturer Panasonic is set to double sales of its electric car batteries over the next three years. Panasonic is the exclusive battery supplier for the Model 3. The value of the sales should be in the region of nearly $4Bln.

2016 Week 26 - Autopilot Crash

 

1. The Model S autopilot had its first fatal crash in Florida. The accident happened when neither the vehicle nor the driver failed to distinguish the white side of a turning tractor-trailer from a brightly lit sky and failing to automatically activate the brakes.

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