Tesla

Elon Musk's track record for technological feats as chief of SpaceX has turned skeptics into believers in everything from his quest to open space travel to Mars to his desire to build a tunnel for high-speed travel between New York and Washington. As Tesla's CEO, his ambitious vision for electric cars has also earned him a faithful following. But now Wall Street is taking a more practical tone, increasingly questioning whether Musk can turn Tesla profitable as it burns through piles of cash and racks up debt. The company may ultimately be forced to sell new shares of its stock or take on more debt just to make it through the year. Shares in the electric car company slumped 5.5 percent Thursday, a day after it reported its first-quarter results and Musk's remarks during an analyst conference call that left many investors scratching their heads. The stock recouped some of its losses Friday, closing up 3.4 percent at $294.09. Tesla shares are still up more than fourfold over the last five … [Read more...] about As Tesla Fights to Make Profit, Wall Street Has Concerns

One of Morgan Stanley’s most optimistic Tesla stock analysts has cut his stock price target for the company to below current trading prices. Morgan Stanley automotive analyst Adam Jonas, one of Teslas biggest bulls, has dropped his price target for Elon Musk’s electric car company from $376 to $291, below the company’s trading price at the close of market on Monday. This is the first time that Jonas has dropped his target below Tesla’s current trading price in months, according to Business Insider. Jonas told clients on Tuesday: While 1Q18 results were broadly in line with consensus expectations (and slightly above our forecasts), we are making material reductions to our earnings estimates to reflect lingering manufacturing issues with the Model 3 – most recently at Fremont final assembly. It is our view that the challenges in ramping up Model 3 production reflect fundamental issues of vehicle design, manufacturing process, and … [Read more...] about Major Morgan Stanley Analyst Turns Bearish on Tesla

Peter Holley, The Washington Post Published 4:14 pm, Wednesday, May 16, 2018 The National Highway Traffic Safety Administration has launched an investigation into a crash involving a Tesla Model S that was reportedly in autopilot mode when the accident occurred, according to the agency. The crash last week in South Jordan, Utah - 20 miles south of Salt Lake City - occurred when the Tesla, traveling about 60 miles per hour, rear-ended a truck stopped at a red light. The driver, who sustained a broken right ankle, told police that her car was in autopilot mode and failed to brake before the violent impact decimated its front end. The crash is the third accident in recent months that has occurred when a Tesla was in the semiautonomous driving mode. Local police told CNBC that NHTSA representatives had already arrived at the scene of the accident. "Consistent with NHTSA's oversight and authority over the safety of all motor vehicles and equipment, the agency has launched its … [Read more...] about Federal investigators are looking into Tesla’s latest autopilot crash in Utah

Elon Musk acknowledged Sunday that Tesla, at its current production rate, would “lose money and die” if it sold Model 3 mass-market sedans at the promised price of $35,000. Despite Tesla’s Model 3 website still stating that it “achieves 220 miles of range while starting at only $35,000 before incentives;” CEO Elon Musk took to Twitter to acknowledge that the company would go bankrupt if it tried to ship starting price units before reaching a minimum production rate above 5,000 units per week. Tesla began taking $1,000 reservations in March 2016 for its first mid-size all-electric-vehicle with a basic battery range of 215 miles. Within a week, the Tesla announced it had over 325,000 paid reservations. A year later, the number of paid Model 3 deposits indicated about 600,000 reservations. Musk tweeted just before Tesla’s July 28, 2017 “Handover Party” for the first 30 Model 3 vehicles that he was confident the company … [Read more...] about Musk: Tesla Selling $35K Model 3 Would ‘Lose Money and Die’

Michael Laris, The Washington Post Published 1:39 pm, Thursday, June 7, 2018 A Tesla running on "Autopilot" that hit a highway safety barrier in March didn't try to turn away, didn't brake, and in fact accelerated significantly 3 seconds before the deadly impact, federal investigators said Thursday. The car went from 62 miles per hour to 70.8 mph, then hit the California highway barrier with such force that the front of the vehicle was ripped apart, according to the National Transportation Safety Board. The driver's hands were not detected on the wheel in the six seconds before the collision, investigators said. Walter Huang, 38, who was wearing his seat belt, was pulled from the blue Tesla by bystanders before the car was engulfed in flames. He died at a hospital. LATEST SFGATE VIDEOS Now Playing: Now Playing Ancient Organics Discovered on Mars NASA Goddard Crime by Seattle neighborhoods Katie Wood, SeattlePI The Regulars: The Train Engineer Paul … [Read more...] about Tesla on ‘Autopilot’ sped up, didn’t brake before crash, federal investigators say