Tesla Motors To Roll Out Model 3 Sedan In 2017

The CEO plans to roll out the new electric vehicle in 2017 - as its major competitor General Motors shows off the new Chevrolet Bolt.

At the Consumer Electronic Show, General Motors showed off its high technology electric vehicle, ‘Chevrolet Bolt’. Comparatively it is putting a lot into this new automobile while will start production sometime next year. The idea behind the latest Bolt is to compete with Tesla Motor’s Model 3 Sedan, which is also expected to roll out sometime in 2017.

According to GM, the new Bolt will be offered for $30,000 with a 200 mile range (after income tax reduction). The chairman of GM, Mary Barra talked about Tesla’s ‘limited retail network’ however she emphasized of the novelty of the auto maker along with the value that is created by the company for its customers.

In the United States, automobiles are mostly sold with the help of auto dealerships while the largest automotive and energy storage company has its exclusive stores. The independent auto-dealer revealed the Model 3 Sedan’s prototype earlier in March which according to the company will cost about $35,000. In the past the automobile organization has had no trouble in working and manufacturing cars that can be driven by drivers but making an entirely electrical car will mainly highlight the areas where the motor giant has always struggled.

One of the areas where the auto maker mainly struggles is with its production capability. Earlier last year, during the third quarter’s earnings call, Elon Musk, the CEO stated that the novel vehicle will be made available in a time span of two years. That being said, only about 507 vehicles of the Model X were produced by the fourth quarter whose idea/concept was unveiled three years prior to the production. For the Model 3, Tesla will need to increase its pace in terms of production since increased competition is on its way. On the other hand, it will have to sell its Model3 for a profitable and competitive price, since it only sells luxury cars.

Additionally, Tesla Stock has been trading up by as much as 1.50% at $218.88. During the session on January 8, 2016, the stock was seen hit a high of $286.65 and a low of $181.40; and kept fluctuating between the two throughout the day. The earnings per share was reported to be at $-5.32. Currently the market capitalization is at $28.24 billion.

Subsequently, it has planned to roll out over 500,000 cars per year by the end of 2020 and the sole thing that will be helping the company maintain its position in the EV market will be the Gigafactory is building in Nevada. Along with providing batteries to the automobile maker, it will help with the economies of scale that will ultimately lead to increased profits.

Could Tesla Be Providing Free Charging For Model X?

The auto making giant has decided to offer free charging facility even for the upcoming Model X SUVs.

According to the recent Tesla news, it has been going around the market how the auto making giant is all set to launch its first SUV ever and that too by the end of the current month. There are a number of questions that circulate around the industry before a product or car is launched in the market and one of them regarding the new car that is on its way to get released is: will the auto giant provide free charging facility to the new car owners as well? Over the period of time the electric car makers have shown the critics that they are capable of attracting the right customers towards their cars with the excessively user friendly offerings made to the users at every point. As per common knowledge of the market, Tesla cars have been coming in with a facility of free charging at different locations all around the country which has made the cars made by the auto giant all the more attractive. The speed with which the firm has taken control of auto industry has indeed been very astounding, with hundreds of charging stations established on highways and subways to bring ease to the owners of company’s electric vehicles. The Supercharger stations that are currently on the records have come around to be 2,871 all around the country which is being taken as a success that needs to be taken into consideration by other electric car makers as well, as this has made Tesla stronger than ever. In a recent report that was provided by the company itself, it was informed that the free charging facility is helping the luxury car makers to grow at a very quick speed and also bring more and more people to invest in buying electric cars of the auto giant. Tesla, on the other hand, has been in talks within the management to make things work for the customers by providing them free charging even for the upcoming SUVs, so that there are no reservations towards the firm. Furthermore, analysts all around the market have agreed that hands down, the biggest reason that the smart car maker sells its car in such a big number is due to the free charging facility which has taken the industry by storm. On the other side, the firm has also managed to create a feeling of anticipation for the car already and analysts believe that following the news that free charging will be available again, it could be easily predicted that the company enjoys high sales of the car in the coming time.

Tesla Motors might fails to achieve its selling target

The American electric vehicle manufacturer Tesla Motors might not meet is selling objective.

The American electric vehicle manufacturer Tesla Motors has given a bad news to its customers. Tesla news exclaimed that although the Californian automaker has drawn a better than anticipated picture in proclaiming its second quarter earnings, it warned of fewer car sales of the year. This message was not welcomed by the share market as the firm’s stock tumbled.

On the positive side, the electric vehicle pioneer stated that it had earned slightly more sales revenue and had less of a net loss, than experts had anticipated. In addition, Tesla which is known for manufacturing high tech electric powered cars stated that it would deliver Tesla Model X in September.

Latest news on the electric car company disclosed that the South African born entrepreneur’s firm has acknowledged that it might fail to meet its target of selling 55,000 vehicles this year. Instead the electric vehicle maker’s Chief executive Elon Musk has claimed it was revising its guidance down by as many as 5,000 automobiles. Model X related problems could adversely affect the production of the current Model S, because the two cars would be produced on the same assembly line in Fremont, California. Press sources have affirmed that Musk believes that Model X is a difficult car to build.

Tesla Motors news informed that the Musk headed achieved its objective for second quarter deliveries by selling 11,532 vehicles to customers. Asked whether the decrease in the sales volume would not let Tesla turn cash flows positive, Chief financial officer Deepak Ahuja has stated that it would be close to and the firm might meet that target in the initial part of 2016. Commercial sources have informed that the Wright founded organization has spent heavily as it gets ready to launch Model X and manufactures a more affordable Model 3.

In the second quarter, the automaker has spent $405,000,000 on capital expenditures. This huge spending has contributed to its losses. Official sources have informed that one expected feature that the automaker has promised autopilot may be only 240 hours from reaching certain vehicle users. Elon has stated that a specific group of Tesla owners would be given access to the feature on 15th August 2015, in what he defined as public beta testing. He added that the new tool would control acceleration and steering and would be brilliant when it has a tracking automobile in front.

As per reports, the electric powered vehicle manufacturer’s used cars selling program has earned $20,000,000 in sales revenue. It is most likely that the firm’s financial report would be welcomed by its competitors. The executives of the vehicle manufacturing organization should now take initiatives to improve its operations otherwise it might not be able to retain its position in the market.

Tesla Faces Criticism From Contractors

Protests are being organized by labor unions outside Tesla headquarters for wages and compensation.

Tesla Motors Inc. is facing criticism as its General Contractors along with all sub-contractors are showing their rage by organizing protests because of the unfair wage mechanism. As reported by the owners of Tesla Motors, the protest has been organized outside the company’s headquarters situated in Palo Alto, California.

As the blog post suggests, the protest is being conducted by the labor union in Hayward that is known as Carpenters Local 713. According to reports, it can be deciphered that the protestors are demand treatment which is just and compensations on the whole.

Along with that, claims are being made by the labor union that the electric car maker is cutting edges so that they make payments to third party contractors provide them their designated wages and give them the benefits they deserve. According to a flyer, that has been obtained from the owner of Tesla, “Driving the car industry in the future. Sending workers’ wages and benefits back to the past.”

The blog further claims that the banners by these protesters have been given to the San Jose State University and Natural Foods Co-op. as perceived, the site being used for this protest is relatively small where three men are protesting along with banners and “giant Grim Reaper."

Apart from this, we also need to take the battery swapping facility of Tesla into consideration at the Harris Ranch Battery Swap Station. Tesla has also given invites to the 200 Model S owners that will allow them to exercise the latest features.

These battery swaps function by replacing the battery pack of EVs with a charged version that has a similar configuration. So when the drivers return from their trips, they can get their hands on their original batteries.

For one round trip, the battery swap is likely to cost almost $80 where the process time is said to be seven minutes on an average. This facility is said to be open throughout the week between 9:00 AM to 5:00 PM. Moreover, during the first half of the trip, the swap is likely to take six minutes whereas eight minutes are required for the second half.

The company might experience growth on the whole but battery swaps will not really benefit the, much in the long run. During the annual stakeholders meeting the chief executive officer of Tesla Mr. Elon Musk stated: “Based on what we’re seeing here [battery swap stations], it’s unlikely to be something that’s worth expanding in the future, unless something changes.”

Uber Wants To Buy Tesla's Autonomous Cars

Uber's CEO, Travis Kalanick, has said that he will be buying all 500,000 autonomous cars manufactured by Tesla.

Tesla Motors Inc. is one of the powerhouses of the United States’ automotive industry. The company has made it all, from traditional cars to the cars powered on a hydrogen fuel tank. Its recent innovation is to build an autonomous car. The company provided people with a concept car a few months ago and vowed that it will be working on them soon. So far as it is known that the Tesla’s self-driven cars will be on the roads by 2020.

At the 17th annual dinner of Top 10 Tech Trends, Steve Jurvetson who is a reputable venture capitalist had a chat with the CEO of Uber, Travis Kalanick, over a possible partnership and investment. According to sources, it is believed that the CEO of Uber is all set to all of the 500,000 autonomous cars manufactured by Tesla Motors by 2020, only if Tesla succeeds to build them. Uber’s business is currently at a very low point and it has faced a lot of criticism from the taxi drivers. But now, the company is all set to take its business to the next level once it acquires the autonomous cars from Tesla in the coming years.

In the past years, Uber has to face a lot of troubles due to its network of drivers throughout the world. The company was involved in many incidents and cases that jeopardized the position of it in the market. And now it is facing the consequences. The CEO has vowed that he will be buying all of Tesla’s autonomous cars if the company manages to complete the production in the next five to six years.

This move will make it easy for Uber to do business. Mr. Travis Kalanick believes that the self-driven cars are the future of the automotive industry and by acquiring these cars it will put the traditional taxi drivers out of business sooner or later.

The CEO of Tesla, Elon Musk, stated that the company is currently testing 12 cars on the roads of California. Elon Musk further believes that it will only be robots in the coming years that will handle the vehicles on roads and little or no human involvement will be noticed.

According to the CEO of NVidia, Jen-Hsun Huang, stated in the annual developer conference of company “It would be like an elevator. They used to have elevator operators, and then we developed some simple circuitry to have elevators just automatically come to the floor that you're at ... the car is going to be just like that.”

Tesla Likely To Face Competition For Its Storage Batteries

Tesla to face tough competition with UET entering the industry with its storage products.

Tesla Motors Inc. is an electric car giant that is one of the prominent automotive brands in United States but since a relatively short span of time, the company is establishing its position as ann energy storage brand. The company recently diversified its portfolio and unveiled a diversified range of lithium ion storage products that can be used for powering household and commercial buildings. At the same time, the company is spending a substantial amount on establishing its first Gigafactory in Nevada.

However at this point the company now has competition at stake since a new startup namely UniEnergy Technologies (UET) powered by a group of scientists and engineers is gearing up to give a tough time. This startup has the backing of United States Energy Department. Thus, the Tesla Powerpack has a strong competitor ready to enter its domain. As reported by Clean Technica, the new company is likely to come up with products that have minute manufacturing costs and better life span.

According to the green energy website, the breakthrough of UET is part and parcel of a smart grid energy storage project situated in the state of Washington that is designed in a manner to consume wind energy resources within the state efficiently.

It needs to be noted here that Tesla’s move to enter the energy storage industry makes certain analysts believe that they could literally supersede the growth of electric cars. However, this has also acquired mix reviews where opinion is at times poles apart. Moreover, those analysts who are skeptical about this venture of Tesla Motors believe that this initiative might have the negligible potential for the firm.

Tesla at this point needs to take several existing and emerging competitors into consideration and if they do not do so then they might just get suppressed.

UET at this point has made several claims regarding its products and if they all are factually true then Tesla might not just be a real rival to them. However, the chief executive officer of Tesla, Mr. Elon Musk holds a relatively different opinion where he claims that his products offer more value than any other competitor in the market.

According to a press release issued by the chief executive officer of UET, “UET is not shy to say it has the best grid-scale energy storage solution at the best-Levelized cost, maximizing value for the customer.”

Hence, Tesla needs to understand that it is not as easy as they might consider it to be and adequate steps to sustain need to be taken.

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.

General Motors To Compete With Tesla In Battery Production

Following Tesla's steps, General Motors has decided to give a try at the battery producing business too.

The most recent Tesla news is all about the fact that the automaking giant is already being threatened by rivals in the battery making industry that it has just entered and this is keeping the hybrid car producers on their toes. It has just been two months since the electric car makers announced their entry into the battery making business which it has planned to initiate from a battery producing plant in Nevada. The firm has also reported that it will be making two kinds of batteries, known as Powerwall and Powerpack, which will be immovable energy storage for home based purposes as well as for its electric smart cars.

However, rival General Motors has decided to step up to the firm to by announcing that it is also planning to invest into the battery storage industry, following Elon Musk’s company’s footsteps. This could be taken as a threat by the automaking giant, but analysts believe that GM is planning on a very different space to follow in terms of production of batteries. As per the press releases, it has emerged that the GM will not be investing much in the business unlike Tesla, which has reportedly put in a massive $5 billion into a battery-making plant. Instead, GM will be using old thrown away battery packs and bringing them to use by recycling them. These batteries will be the ones that are disposed of from the electric cars made by the Michigan-based firm only.

In a press release that took place on Tuesday, June 16, it was seen that the firm has plans of using a battery pack consisting of five used batteries which will then be used as an extension for powering cars and homes, using both solar energy as well as energy produced by the wind.

According to an article published by Fortune, it will be seen that the recycling procedure that is being followed is going to be compatible with primary usage as well. But consistent recycling needs to be done in the case, as they will be charged from the solar energy received daily.

On the other hand, it is being seen that the batteries General Motors is planning to launch will be saving quite a lot of energy for rainy days, which has come around to a massive 80 percent. However, a supply problem has been identified by the automakers as the recycling will only be done from the already used batteries of electric vehicles and the usage of those cars has not been as much as the usual cars.

Analysts Raise Concerns Over Tesla's Excessive Money Borrowing

The electric car makers have been borrowing more money than before which has raised concerns from analysts.

Tesla Motors is in the news again, this time for a completely different reason. On Friday, June 12 the auto making giants announced that it has successfully managed to receive a facility that has a worth of around $500 million. This property that has been taken by the electric car makers is going to prove as a useful entity to cover up corporate services and purposes that are for the department of handling capital. This just shows how much the hybrid car makers are currently seen to be taking more and more money loans which is bringing about a negative effect on the analysts who were previously holding a bullish stance about the activities of the firm.

Currently, it will be seen that the Tesla Motors has been carrying out activities which has made analysts and investors quite bullish about the future of the company. The massive sales and growth that is being experienced by the firm lately has made the analysts quite positive but the fact that the smart car makers are taking too much of loans is not going to take it anywhere. By the time it was made public that the electric car producers are borrowing money has not turned out to be a surprise for the analysts as it has been made common that the firm is looking for cash inflows to run the firm in a better way.

After the first quarter of the current financial year got over, it was announced by the firm that the cash revenue Tesla owns has come around at $1.5 billion. However, in the upcoming quarters, the high tech car producers have planned to spend around that much only which shows that more money is needed to carry out further tasks. The massive expenditures that are expected to be made by the firm are because of the upcoming launch of the Model X cars that the company is seeking to make.

Furthermore, the Gigafactory that is reportedly being built up in Nevada for the production of ion-lithium batteries is also going to need a massive amount of money too. Therefore, analysts are of the opinion that hence it is vital for the firm to take the loads to make sure the business activities are being carried out in the perfect way.

As for the credit facility, it has become evident that the firm has received it from around five banks, while Tesla has made plans of doubling the money it receives from $250 million to around $750 million. The firm has also been found in possession of letter of credit of around $100 million.

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.

Bidness Autos - Tesla To Receive Competition By Mercedes In Home Battery Business

The automaking giant is soon going to receive serious competition by Mercedes which has also decided to step into the battery-making business.

Tesla has been going through some massive changes within the functions of the firm that it has always been carrying and one of the newest ventures that it has reportedly stepped into is all about making home based batteries for the customers to save money on their electricity bills.

Even though at first the automaking giant did not receive the right reaction from the automotive industry about going into battery making business and analysts were seen saying that the firm is just changing its track a little bit to hide the sluggish sales of its car lately. However, this business is now being taken as a huge step towards progress by analysts and there is one more trend that the electric car makers seem to be setting. According to a recent news release, it was seen that Mercedes has decided to adopt the whole idea of manufacturing and selling batteries too.

This news has not only surprised the auto industry and analysts, but it has also amused them since the luxury car making firm did not make such business plans in the past. The energy storage business plan that has taken its toll in the industry is sure to bring about a change that turns around how things worked in the auto companies before. Mercedes has decided to look past the manufacturing and selling off of cars and automobiles and have a look at the battery making business instead. According to the recent news on Mercedes-Benz, it was seen that its parent company Daimler AG was seen working towards making the tests needed to be done for the batteries that are used in the homes. As per the press release, it has been heard that before September, the firm will be launching the first of its batteries.

The report on Mercedes plans has made it clear that the automakers have been testing batteries for a long time now, probably as long the smart car making company, Tesla. A subsidiary of Daimler was set up around six year back which was made to focus on the production of lithium-ion batteries.

Analysts believe that Tesla has made its focus on the batteries quite a straightforward and obvious decision while on the other hand Mercedes’ parent company is not doing the same and is taking baby steps into the industry. The hybrid car makers are looking towards expanding their business by making batteries in a huge number while Daimler aims to make batteries but not in a large quantity. However, it is expected by the analysts that the electric car producers need to look out as serious competition is headed their way.

Bidness Autos - Tesla Might Get Offered An Acquistion Deal By Google

There have been rumors that suggest that Google might be considering buying the auto making giant on a massive deal signed on $275 per share.

Tesla Motors has been trading way up to high on the stock index since the time rumors have started circulating the air that the firm might just get acquired by Google Inc with a price per share settled at $275. This overly priced number has helped the price of the auto making company’s stock go right upwards. Keeping in mind the current share price, this acquisition at $275 per share shows an 11 percent upwards stance from the current price that the shares are trading on. These rumors have taken the attention of the analysts in the industry.

Previously there has been quite a lot of speculation related to acquisitions made by big companies in the start of the year 2015, as there were many rumors which suggested different tales. But so far, all the rumors that were heard in the past have yet not been materialized which shows that too much attention should not be given to the rumors that are commonly seen circulating in the industry.

Tesla Motors is an automobile company that deals in designing and manufacturing electric cars which are on of its kind. The smart car making company was the first one in the country to come up with such an idea and so far, the customers in the United States of America have been quite satisfied with the kind of hybrid cars that are being produced by the Silicon Valley-based company.

The cars that Tesla is usually seen making are luxury cars that are also a status symbol used by the elite class of the country. These cars are powered by electricity and the firm has also managed to establish quite a lot of electricity filling pumps across the country, in order to provide ease to the users who are driving the electric cars. The firm also launched its electric cars in China which was a huge step taken by the automakers but due to some problems, the cars did not put the same effect on the Chinese people as they did on the American customers which are why the company ended up receiving a negative response from the Asian region.

As for the buyout by Google that was rumored to take the place of Tesla on the social media networking site Twitter, there has been nothing but rumors. The base of these rumors are coming from a book written on the life of the CEO of the electric car making company, Elon Musk, who has mentioned that his firm reached out to Google (GOOG) for help back in 2012 when the smart car makers were going through a difficult financial time.

Bidness Autos - Tesla Gets Battery Storage Testing Agreement Through Southern Co

Tesla and Southern Co. join hands to work on the testing of electric batteries.

Tesla Motors Inc. grants permission to Southern Co. the Atlanta-based electric firm to govern tests on their utility scale battery division, dubbed as Powerpack. Thomas A. Fanning, the chairman, President and chief executive officer announced about the collaboration between the two firms during the company’s stockholders annual meeting.

"At the foundation of Southern Company is our ability to develop real, innovative solutions to shape America's energy future," stated Mr. Fanning in the press release of the firm. The Southern Co. at this point of time wants to make its inventive culture relatively strong by establishing new partnerships that will allow them to strengthen their portfolio. According to him, if the company involves in such practices then it will help them to cater to the evolving energy needs of consumers.

Under this collaboration it has been agreed between Tesla Motors- the electric car giant and Southern Co will work towards exploring the possible implication of TSLA Electric batteries to cater to the electric needs of consumers along with efforts to minimize the hazardous implications of carbon emissions.

The company so far has created the right amount of anticipation that will assist them in luring customers towards their battery products. Only in its debut week, Tesla has been successful in gaining 3,800 preorders and 2500 reservations for Powerpack. So by the mid of next year, this continues to happen on the same pace than the company will be soon sold out for its battery products considering the production capacity of the company at this time.

According to the data compiled by Bloomberg, these preorders almost worth around $800 million for the firm. So if customers do not back off then the company will have a stable flow of revenues eventually.

According to several economists, the batteries manufactured by Tesla will be providing solutions to the climatic changes, allowing individuals to go completely out of the grid in the times to come. The aim of Elon Musk- the chief executive officer of the firm is to make energy efficient and cheaper for the masses. These batteries can be helpful in saving the energy that is obtained from green sources such as solar and wind power and ensure a steady energy supply since the energy that is obtained from other sources has several fluctuations.

Hence, in a nutshell, Tesla Motors and Southern Co. are in the right direction because electric batteries are the need of time. If Tesla lures so many orders for Powerpack then their future will be relatively stable.

Bidness Autos - Tesla Has Huge Plans To Carry Out In The Coming Quarters

The auto making company has many plans lined up for the upcoming quarters in which the launch of Model X car and Gigafactory has gone to take place.

In the most recent quarterly report announcement, Tesla Motors was seen to discuss quite a lot of plans for the coming quarters that the firm is looking forward to carrying out. These plans are deemed to be quite important for the company’s performance, as it will determine where and how the firm is headed forward.

The automakers are looking forward for plans such as the launch of the Model X car that is expected to launch in a few months along with the battery making business that the firm has only recently announced to step into. The Gigafactory, which is being established for the purpose of manufacturing batteries for cars as well as home based usage, is in the process of being launched too.

The Model X car, which is the first electric sports utility car that Tesla (TSLA) is currently working on is almost ready for orders and Elon Musk, the CEO of the smart car making firm, expects the customers to be able to place an order for their Model X Cars by July.

However, the electric car will actually be made available in September of the current year when the deliveries will be taking pace. The CEO of the auto making firm has previously been positive about this new venture of his company in the form of the sports car that is to launch soon and he still seems to be quite excited about it. According to him, this sports vehicle is going to prove as a great car in the SUV industry.

As for the Gigafactory that is being worked upon by Tesla, this other venture of the auto giants is to bring about a huge change in the way things are done in the firm. The battery making plant is expected to produce lithium-ion batteries in a massive number, so much as to break all the records of production in the past years. As per the initial plans of the company regarding the launch of the actual battery cell, it was decided that the first cell will be introduced to the industry in 2017.

However, the hybrid car makers have decided to speed up the process as the management mentioned in the earnings call recently made that now the first battery cell will be launched in 2016, one year before.

On the other hand, the demand for the Model S cars has been constantly increasing as discussed by Elon Musk in the earnings call. Tesla is now looking towards selling around 55,000 Model S and Model X cars by the end of the current quarter.

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.

Bidness Autos - Tesla Motors Receives License To Sell Cars In Maryland

The auto making company has successfully received permission from the government of Maryland to make direct sales of its luxury cars in the state.

Tesla Motors is in the news again and this time, it is all for the right reasons. According to the most recent news update, it was seen that the auto giants received the much-awaited permission from the authorities to start the procedure of directly carrying out sales from Maryland, something that the firm has long been trying to get approved.

The electric car makers have been facing trouble from the other rivals in the industry which is why this process got delayed. Despite all the difficulties faced, the giants have finally managed to obtain something that should be reckoned with. Following the news, the hybrid car makers are now in a position to supply its luxury cars from the state of Maryland. This process is expected to start in October by the automakers.

Since the success news, Tesla stock went right upwards on the stock index reaching a share price of $245.10 as per the latest data available. The delays in signing the deal and for granting the auto company permission to sell its cars in the state were made due to various other reasons. The law of Maryland for the automotive sale and resale has been reconstructed for the electric cars makers so that it can freely sell its cars in the region. The law has now been changed into the company’s favor now which says that every distributor and manufacturer that deals in making electric cars or hybrid cars will only be allowed to carry out selling transactions, a category that the company now falls in.

On the other hand, according to a news piece posted by the International Business Times, Tesla Motors has been stopped from carrying out direct sales in around twenty-five states of the United States. Since the CEO of the smart car making company believes in delivering the firm’s cars through the company itself, he has been seen fighting for permission to be granted to him so that he can make direct sales.

The permission to make direct sales in Maryland is being taken as huge success news for Tesla by the analysts who believe that this is one more accomplishment for the company after the same permission was granted to the automakers in New Jersey.

According to Bidness ETC, the electric car making company is looking towards receiving permission from the governments in Michigan and Texas as well, all for the same reason. Similarly, the automakin' firm is also looking towards entering more states to make sales accordingly.