Tesla Signs Deal With New Battery Supplier

The auto car maker signed a deal with LG Chem which will be providing upgraded batteries for Roadster.

According to the most recent news about electric car makers Tesla Motors, it was reported that the auto making giant has recently collaborated with a Korean battery making company called LG Chem, and this deal between the two companies is believed to help the auto giant to give its battery business a huge boost. The company has upgraded its EV portfolio and has signed the deal following this event. Tesla cars are already receiving their batteries and battery cells from a variety of companies and in a press release, the giant further confirmed that the cells it will be receiving from LG Chem will be incorporated in its Roadster vehicle, and this one will particular be the 3.0 battery cell. Similarly, Panasonic also works in collaboration with the electric car makers and provides battery cells from the Model S cars. Presently the luxury car makers are working to build up the much talked about Gigafactory which will ensure the giant’s self-efficiency in the battery business. However, it is not a hidden factor that companies like Panasonic are also working with the company in the Gigafactory to provide for the Model 3 smart car which will be released sooner than later. It has been reported by multiple news sources that the first car of Tesla business, namely Roadster, has always been built with a 2.0 and 2.5 level battery but it has been manufactured in such a way that it can adapt to the higher efficiency of 3.0 battery packets that the LG Chem will now be supplying to the company. On the other hand, analysts have also pointed out that this collaboration with the Korean will not put down the relationship the giant has with Panasonic and it will maintain its position of being the most important supplier of batteries to the hybrid car manufacturer. LG Chem, on the other hand, has been involved in supplying battery cells to a couple of prominent auto makers in the industries like General Motors and has been carrying forward a strong business since a very long time. Analysts at the Navigant Consulting have released a report in which it has been stated that very soon the Korean battery providers will be competing for a target of 1GWH towards the end of the next year, which is an accomplishment to be considered. As for the electric vehicle maker, the giant has already been using batteries from LG Chem to support its previously launched sedans and also its new car Model X which it released only recently. 

Tesla Plans To Expand Its Supercharging Stations All Over Britain

The electric car giants have decided to build more energy charging pumps all over Britain as promised to customers.

According to latest Tesla news, it has been seen that the automaking giant is planning to expand its supercharging business that it has initiated to charge its cars. The electric car makers have been in a dispute with Ecotricity which is an established energy supplier that has been in contract with the smart car manufacturers for quite some time now. However, due to a dispute that started between the two companies, the expansion of the energy project was delayed until further notice. The automakers have reportedly been assuring the customers of the electric cars in Britain that they will be receiving excessive power supply in their country without any issues.

Tesla has informed the British customers as per previous reports that it will be building up Supercharger pumps all over the states where the smart cars are being used. The firm was also seen to give the customers a chance to travel anywhere within the country relying on the new technology charging network that was to be established by the firm, that could help them obtain free energy from wherever these pumps were situated. However, all these plans were overlooked when the firm was thrown towards a lawsuit dispute with Ecotricity. This dispute resulted in a delay which made the customers quite unsure of what to expect next. Except for the energy filling pumps that were already installed, no more were being built.

As for the most recent update on Elon Musk’s automaking company, the dispute has now been settled between Tesla and Ecotricity which has opened up new spaces to cover. The hybrid car producers have recently announced that they will be building more energy pumps in the country following the same place which was to be followed if the hindrance hadn’t occurred. The installation of more pumps will determine the expansion of the project that the auto giant has been planning to carry out since a long time now.

The routes that will be covered are going to be from West Scotland to Eastern England, as per the reports. The firm is currently looking towards establishing around seven more site plants for the purpose of battery charging in the country. Both the companies that got involved in the dispute have announced new progressive plans recently which show that they are looking forward to making productive changes in the industry soon.

As per the press releases, the problem between the two firms started when it was reported by Ecotricity that Tesla is not being completely open about its plans which were causing many problems in operations.

Bidness Autos - Tesla Fails To Receive Permission To Sell Cars Directly In Connecticut

The automaker's attempt to receive permission for direct sales in Connecticut have been overlooked by the senate.

Tesla Motors has recently received a bad news from the government of Connecticut. Formerly, the automaking giant has applied for a license to receive the permission to make selling transactions within the state directly, without a middle carrier. However, the bill that was expected to pass by the electric car makers, failed to come into action which resulted in the firm not obtaining the authority to sell their smart cars to the customers in the state. According a spokesperson of the auto making firm, this has happened due to the state of passivity that was seen in the senate which was supposed to further pass the request.

Tesla had reportedly filed a bill in the senate house of Connecticut in May but due to the deferral in the decisions made by the government, the results were not only delayed but also happened to be not in the hybrid car making company. However, in more recent news, it was seen that Elon Musk’s auto company is not ready to give up yet and plans to reapply for the bill to be accepted.

The management of the electric automakers has reportedly been making plans to submit the bill again to the general assembly which can then take it into consideration in a session that is scheduled to take place soon. There are, on the other hand, speculations about whether lawyers and lawmakers will think of taking it seriously or not. The firm has also informed that in case the nothing comes out of the special session that is going to take place in the senate, the automakers will file another bill the next year.

The spokesperson of Tesla cars was also noted to say that the firm might even try another strategy to make the law makers agree to the permission they wish to attain. However, it is believed by the firm that no reason can be found which should become a reason for not being granted the bill. The firm has a strong position in the industry and a full right to ask for equal rights to make sales of its cars in the state.

Tesla’s vice president of the business development department was recorded to say that the auto giants are looking towards welcoming new customers to try the smart cars being manufactured by them and by receiving the authority to make direct sales in different states of the country, the process will become easier. Currently, the automakers have around twenty stores all over the country and are planning to expand as much as possible.

Is Tesla Running Out Of Money?

Tesla has several futuristic plans that require cash, however, their current finances are not so satisfactory to make it all happen.

Tesla Motors Inc. is one of the most promising electric car makers that are disrupting the automotive industry at a relatively great pace. The company at this point of time is increasing the number of a project which is relatively more expensive that what it was doing earlier. The company wishes to reign in the electric vehicle industry along with the energy storage but for that they need a stable stream of revenues.

The problem which several analyst and skeptics are dealing with at the moment is that will Tesla be successful in breathing life to its dreams or be stuck due to limitations in funding. The company currently has a single electric car that is responsible to help them sail swiftly. According to a consensus, the company currently sales for a quarter across the globe are similar to one-day sales of General Motors Company in the United States.

So the question is where is Tesla spending all the hard earned money?

Tesla apart from coming up with a new SUV the previous year is also reportedly working towards unveiling “ high volume mass market electric car” which it will call Model 3 in FY17. So in order to have a Model 3 that is relatively cheaper, the company has decided to minimize costs of its batteries that will hinge the launch of the much anticipated Gigafactory plant in Nevada for storage batteries.

Apart from this the company seeks to expand its footprints in regions where it is not currently available, therefore, the company is working towards launching Model S in several international markets. For the same reason, the company is spending vast amounts of money to establish the necessary infrastructure required by the company for their electric cars. This includes servicer stations, supercharger networks etc.

This year the company has also vowed to pledge $1.5 billion in capital expenditure (CAPEX) almost 25 per cent of this budget was carry forward by Ford Motor Company- the second largest automotive firm that generates 200 times more money in terms of revenues when compared to Tesla Motors.

At this point, Tesla has made a vigorous investment in several “growth catalyst” at a time where they are already struggling with finances. This has brought negative criticism for them from several investors and analyst at Wall Street.

Hence, in a nutshell, Tesla needs to figure out what it really wants to do in the years to come. The company has extremely futuristic plans, but these plans require money for implementation which the company currently lacks.

Bidness Autos - Tesla To Launch Its Self Driving Car In The Upcoming Months

The auto-making firm is planning to make an update on its software of the Model S cars, which analysts believe is for some autonomous features to be added to the vehicle.

The rumors regarding Tesla Motors planning to work on an autonomous car have been circulating in the air for quite some time. The electric car makers have been treating its fans with the idea of making its luxury cars into cars that are self-driven automobiles which have excited the audience to no end. Even though the rumors have been going on about the auto industry for quite some time now, it had not been made clear yet as to when the firm plans to actually launch those special cars.

According to the most recent news on the hybrid car making company, it has been made public that in it will be going through a software update on its systems soon which will not only make the firm capable of bringing its first autonomous car on the road in a time period of only two months, but it will also open the gateway for more software updates to take place in the auto-making company’s system in the coming time.

As per the latest press release, it has also been made evident that Tesla’s Model S car will be receiving more updates in its software which will be making it become a better self-driven car in the coming times. For customers who are in possession of Model S cars, this has come out to be quite an exciting news as their cars will also be made into cars which carry the updated software bring about some features that will make them autonomous to some extent. Keeping in mind the fact that all the Model S cars, released since the month of October, have been made in such a way that their software system can be updated with features that support an autonomous system of driving a car, all the customers who bought their Tesla cars after that time will be able to enjoy the updates on their luxury vehicles soon.

The hardware system that has been installed by Tesla into its Model S cars includes special features like an updated steering plan and an improved braking system, along with a camera that faces the front side of the car. With radar for the front face of the automobile and ultrasonic sonar with a 360-degree scale, the updates on these will turn out to be very happening.

In the latest press conference that was held by Tesla’s management, the fact that a software update is going to take place soon has given a hint to the investors and analysts that this update will involve features with some autonomous characteristics.