Tesla is following up a very busy February with an even more hectic March. Elon Musk has announced that his brand will unveil the long-promised Model Y crossover at the LA Design Studio on March 14th. On top of that, you can expect the first “v3.0” Supercharger station to switch on March 6th at 8PM Pacific. Musk didn’t provide more clues beyond that, but you might already have an idea as to what to expect.
As part of his settlement with the SEC over tweets about taking Tesla private, Elon Musk agreed to step down from his post as chairman of the board of directors. Now, while he’s still CEO and retains his seat on the board, Tesla has announced his replacement: Robyn Denholm. Already a Tesla board member, she is currently CFO and head of strategy for the Australian telecom Telstra, but will leave that post once her six-month notice period is up to serve as board chair of Tesla full-time. Continue reading Tesla replaces Elon Musk as board chair with Telstra CFO Robyn Denholm
Back in December, SpaceX and Tesla founder Elon Musk sent a frustrated tweet vowing to alleviate traffic by grabbing a tunnel-boring machine and going to work. While this seemed like the usual What If thought Musk dispatches to the Twitterverse, it seems he’s actually going into the tunnel business with his adorably-named new venture, The Boring Company. Today, the futurist released a concept video for what an underground tunnel network might look like in today’s car-focused cities.
Tesla’s Model S P100D is the fastest accelerating production car in the world, thanks to a Spaceballs-inspired software update. In a recent Motor Trend test, the Model S P100D hit 0-60 mph in 2.275507139 seconds using a new Easter egg mode called Ludicrous+. No production car has ever cracked 2.3 seconds during the magazine’s testing, it said. That’s faster than Tesla’s original promise of 2.5 seconds, and faster than the 2.389 second time recorded by the Tesla Racing Channel in January.
Tesla’s early adopters have been enjoying a lifetime of free charging at the company’s network of Supercharger stations, but that won’t be the case for owners of the forthcoming mass-market Model 3. In today’s annual shareholder meeting, CEO Elon Musk explained free charging for life won’t be included with the new model, but will be available as an optional package.
When Tesla talked about its earnings in early May, one big question came up: just how will the company afford to make hundreds of thousands ofModel 3s (over 373,000, at last count)? By raising a ton of investment money, that’s how. Tesla has announced that it’s selling a total of $2 billion in stock, about $600 million of it from Elon Musk himself, to pay for its expansion plans. It had to move up its goal of 500,000 electric vehicles per year to 2018 in response to Model 3 deposits, and that means having a “good buffer of cash” (as Musk said during the earnings call) to keep things humming.
The best music often comes from the notes left unplayed, and so it was with the Tesla Motors Q2 earnings call with financial analysts this week. While we heard upbeat news about the Model X delivery schedule – and downbeat news about the company’s vehicle output forecasts and profit margins – perhaps the most interesting hook came from a question left unanswered.