According to news sources, Nissan has reduced the production of vehicles due to a shortage of semiconductor materials. The Japanese company will decrease development of Note compact cars by 5,000 units in January 2021. Output is anticipated to be decreased starting in February.
Elon Musk has recently said that Tesla has only managed to produce marginally more than half of the 500,000 vehicles goal planned for this year. Tesla estimated that it would produce nearly 500,000 vehicles in 2020. In this way, Tesla has announced it has earned money over the last five quarters and has seen its share price increase by over 700% over the past year.
Surrounded by an enormous uncultivated field, Giga Shanghai, Tesla’s nine-million-square-feet factory in China is a non-stop mechanic monster. Within barely two years, they have managed to construct a modern car factory out of nowhere, which is now able to assemble enough Tesla Model 3s to feed China and even to be exported to Europe. Another example of China Speed.
British Prime Minister Boris Johnson will hold talks with European Commission President Ursula von der Leyen on Wednesday night, hoping that Britain and the European Union can reach a trade agreement before the end of the year. Previously, the British government agreed to abandon controversial clauses that violated parts of the Brexit agreement.
The cruising range of the Tesla Model S electric vehicle has improved again, setting a new record. At the same time, Model S’s cruising range is once again ahead of rival Lucid Air. Earlier this year, Tesla increased the full battery range of the Model S to 402 miles, setting the highest record of all electric vehicles at the time.
Tesla will be officially included in the S&P 500 index, per an announcement on Monday. This change will take effect in more than a month from now, which is the Monday of December 21. When the market opens that morning, Tesla’s stock will be on the S&P 500 index— a milestone for the electric car manufacturer.
The founder of Tesla and SpaceX Elon Musk created a new brand name Tequila. Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. Tesla‘s current products include electric cars, battery energy storage from home to grid scale, solar products and related products and services.
On Friday, according to foreign media reports, lithium compound producer Livent announced that it has extended its supply contract with Tesla until 2021. Livent also revealed that it will set up a joint venture to acquire the troubled Nemaska lithium mine project in Canada, which will help the company increase lithium production.
Tesla announced its fifth consecutive quarterly profit on Wednesday, with both revenue and profit hitting new highs. This is mainly due to the rapid increase in Model 3 and Model Y vehicle deliveries. The financial report shows that Tesla’s third-quarter revenue reached $8.8 billion, an increase of 39% this year.
Tesla is among a list of companies that are suing the US government over increased taxes that have affected imported spare parts from China. According to legal documents filed by the company, the tariffs are “arbitrary, capricious, and an abuse of discretion.”
In the United States, dozens of children die each year because they are locked in hot cars, and half of them are because the children are forgotten by traffickers. In order to prevent such unfortunate incidents, Tesla is applying to the Federal Communications Commission (FCC) for approval to sell a short-range interactive motion-sensing device.
Tesla has ignored a shutdown order by Fremont, California local authorities and reopened its facility in the county. A spokesperson for Alameda County said on Tuesday that health authorities were reviewing Tesla’s reopening safety guidelines. Tesla’s factory is situated in Alameda County.
On May 9, Tesla CEO Elon Musk decried coronavirus lockdown measures that halted operations at his company’s main factory. Now, the billionaire has threatened to shift Tesla operations out of the state of California, to Texas or Nevada, where coronavirus lockdown bylaws are friendlier.
The National Transportation Safety Board (NTSB) has provided a rare glimpse into the investigation of a fatal accident involving a Tesla Model X that crashed into a crash barrier at high speed in March 2018. The accident, which occurred in Mountain View, California, led to the death of Apple engineer Walter Huang. Documents published by the NTSB show that the Tesla autopilot feature was switched on 18 minutes before the impact.
Now that Telsa’s Model 3 is having significant problems, both in production and in order rates, you would think the company led by Elon Musk would focus like a laser to get productivity and orders flowing for their products and snafus corrected. These issues are in the headlines almost daily and the stock is falling. But how can Elon focus on these problems when Musk is juggling so many other balls, with Tesla being only one of many major issues in his life?
- The Eerie Similarities Between Billionaire Howard Hughes And Elon Musk. Hughes a celebrity dated Jane Russell and Katherine Hepburn and married actress Jean Peters. Likewise, Musk married British actress Talulah Riley following his divorce from author Justine (Wilson) Musk. He’s also dated actress Amber Heard and had a brief but sensational, relationship with indie singer Grimes.
- Even at the best of times, Tesla operations have seemed like loosely organized chaos, the company’s rapid-fire price changes for its vehicles and its hastily announced — and subsequently reversed — decision to close most of its stores are signs of a business that has been stressed to the breaking point.
- Elon Musk said Tesla would not be profitable in the first quarter of 2019 and disclosed that Tesla is closing most of its brick-and-mortar stores. Musk added that he expected Tesla to be profitable in the second quarter.
This week, Durig Capital reviews a bond from an issuer that was snapped up a few years ago by one of the most enigmatic figures in corporate America. In late 2016, SolarCity was acquired by Elon Musk’s company, Tesla. The acquisition made sense- combine the maker of electric cars and energy storage with a company that produces solar panels that produce energy (seemingly to ultimately charge Tesla’s vehicles). Tesla has since integrated SolarCity’s products into the Tesla portfolio. Tesla’s most recent reported quarter (Q3 2018) was truly historical.
Free cash flow of $881 million.
Operating income of $417 million
Cash flow from operations of $1.4 billion.
Interest coverage in Q3 of 2.4x.
- Samsung Electronics dramatically cut its guidance for fourth-quarter profits Tuesday as demand falls for its memory chips and smartphones. The world’s biggest smartphone maker said it expects to see an operating profit of $9.7 billion, down nearly 29 percent from last year. Analysts had been expecting profits of more than $13.5 billion.
- LG – The world’s second largest TV manufacturer has forecasted profit of just 75.3bn won (£52.5m) for the three months to December last year, which is also an 80 per cent drop from analyst estimates of 387bn won by Refinitiv. LG pulled in 336.8bn won in the fourth quarter of 2017.
- Tesla came in pretty close to delivery and production expectations, but close is no longer good enough to win the cigar. The stock closed Monday at about $10 off (about 3%) its consensus price target, indicating that it may still be overvalued.
- What does the Apple shortfall mean for other U.S. corporations? China has been a golden goose in recent years for many American brands pursuing growth through global expansion. Starbucks’ 3,000-plus cafes dominate the coffee-shop market there, with more than 50% of market share. Similarly, the success of GM’s Buick and Cadillac, as well as cars produced by its local joint ventures such as Baojun, have made China the automaker’s largest retail market
- Nike executives remain bullish about the retailer’s growth in China, saying that the company has not seen any impact on sales in China despite trade tensions. We are bullish about our potential to deliver strong, sustainable growth in China.
- Chinese Vice Premier Liu He has plans to reduce tariffs on American auto imports from 40 percent to 15 percent in a move that could break an escalating trade war between the world’s two largest economies. Shares of General Motors, Ford and Tesla rose with the news.
- Tesla’s vehicles are consumers of the company’s main product: batteries, which are also used in huge storage power stations, homes and for all types of electrical installations. As GM and Ford are working to revive its core business, Tesla has green fields all around it.
- Ford Motor said it would spend $11 billion on a three to five year global restructuring program. Europe is expected to see the bulk of the action with big job losses. Ford Europe said it reshuffled its leadership ahead of an expected shakeup in the loss-making organization.
- CE Mary Barra’s plan frees up the resources to give GM a fighting chance in the market for electric cars. This is better than using the same resources to keep factories open running just one shift to make unprofitable cars and potentially requiring another government bailout.
- Volkswagen will be rolling out its last generation of combustion engine cars in 2026, as it looks to turn the corner on the “dieselgate” emissions cheating scandal. Volkswagen’s pivot towards e-cars has in part been spurred by efforts to shake off its ongoing “dieselgate” scandal.
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- Elon Musk: a visionary leader, or a liability for Tesla’s legacy, continues to face a challenge familiar to all companies dominated by a larger-than-life founder: protecting its legacy.
- Some see parallels between Tesla and Lehman Brothers Holdings Inc., saying the electric-vehicle maker’s troubles resemble those of the bank’s before it failed.
- People are begging Elon Musk to consider how his social-media antics continue to drag Tesla stock — and, in some cases, reportedly cost them their hard-earned money.
- Tesla delivered an outstanding record of 83,500 vehicles in Q3. A sign of strong fundamentals? Or a last hurrah?
- REVIEW: The Model 3 can blast to 60 mph in five seconds, it can drive itself under some conditions, and it has a five-star safety rating from the government. “The Model 3 isn’t just my new favorite Tesla — it’s my new favorite car.“