Yesterday, 6:48 PM
- Noting the substantial spread between SolarCity's (NASDAQ:SCTY) share price and Tesla's (NASDAQ:TSLA) acquisition price, Baird analyst Ben Kallo sees a short-term trading opportunity in SCTY and predicts with an 80% probability that the merger of the two companies occurs.
- Kallo also thinks SCTY’s recent cash equity sale and positive regulatory developments in Nevada have helped to reduce concerns over the company’s ability to monetize its assets and worries that additional states may use Nevada as a precedent for changes in net metering programs.
- For the long term, however, Kallo keeps a Neutral rating and $25 price target on SCTY.
Yesterday, 10:15 AM
- Keep an eye out next week for specifics on a settlement between Tesla Motors (TSLA +1.4%) and Hoerbiger Automotive struck in mediation, advises SA contributor Montana Skeptic in a freshly-posted article.
- Hoerbiger Automotive was tasked with making the hydraulics for the much-discussed falcon wing doors on the Model X before the relationship went sour.
- Settlement terms will be revealed on October 4, which could also be the same day that Tesla reveals Q3 delivery numbers.
Thu, Sep. 22, 2:49 PM
- Tesla Motors (TSLA +0.8%) aims to show off its new solar power/battery storage/EV charging system on October 28, according to CEO Elon Musk.
- The integrated product features a first-of-its-kind solar roof, along with the next-gen Powerwall and an updated EV charger.
- The Tesla Master Plan Part Deux calls for "stunning" solar roofs with seamless battery storage integration.
- Shareholders of Tesla and SolarCity (SCTY +2.7%) are expected to vote on the merger some time in October.
Thu, Sep. 22, 12:08 PM
- Tesla Motors (TSLA -0.4%) files a lawsuit against the state of Michigan over its ban of direct sales to consumers.
- The full complaint (.pdf) names Michigan Governor Rick Snyder, Secretary of State Ruth Johnson, and Attorney General Bill Schuette as defendants.
- Currently, Tesla has stores in 23 U.S. states.
Wed, Sep. 21, 10:58 AM
- Elon Musk says the software update being pushed out by Tesla Motors (TSLA -0.8%) tonight will be a "major overhaul" on nearly every level. V8.0 will roll out gradually to cover the various models and configurations of Tesla's fleet. The company believes the increased use of radars by Autopilot will improve the accuracy of the autonomous add-on.
- In an interesting safety feature with kids and pets in mind, an always-on temperature control will keep the cabin temperature below 105 degrees Fahrenheit without burning through too much battery power.
- Tesla watchers may also be interested in a breaking Financial Times report indicating that Apple is interested in a takeover or investment in British supercar maker McLaren Technology Group. The end game of Project Titan has been a talking in evaluating future Tesla competitors. Shares of TSLA have moved lower since the FT story broke.
Tue, Sep. 20, 2:45 PM
- Tesla Motors (TSLA -0.9%) released a software update to fix a vulnerability highlighted this week by some Chinese white hat hackers. The Keen Security Lab team infiltrated the control system of a Model S.
- The company's over-the-air security update system allowed it to respond quicker than other automakers hacked in the past.
- Keen Security Lab's hacking report
Tue, Sep. 20, 8:30 AM
- General Motors (NYSE:GM) continues to release crucial details on its all-electric Chevrolet Bolt ($37,495 MSRP, 238 miles driving range), although it's still unclear the extent of the EV roll-out this year.
- GM says it's still on track for a "late 2016" roll-out at "select dealerships" in the U.S. Electrek notes this could indicate the Bolt will only be introduced in ZEV states initially.
- Whether or not the Bolt is an all-in bet by GM or a proof-of-life concept car could be a key point for Tesla Motors (NASDAQ:TSLA) as its enters the mass market with the Model 3. Some analysts think Bolt production will only be around 30K units in the early stages which would pale in comparison to Tesla's targets.
- Previously: Positive reviews for the Chevy Bolt as analysts ponder demand (Sept. 16)
Tue, Sep. 20, 2:30 AM
- In its most comprehensive statement yet on autonomous vehicles, the Obama administration said it would consider seeking the power to approve technology for self-driving cars and said U.S. states should not issue separate rules.
- The U.S. Transportation Department also included a 15-point set of "safety assessment" guidelines, covering issues like cybersecurity, black box recordings and how a vehicle would deal with potential ethical conundrums.
- Related tickers: F, GM, TM, GOOG, GOOGL, TSLA, MBLY, DLPH, TM, HTZ, CAR, HMC, UBER, LYFT
Mon, Sep. 19, 12:00 PM
- Tesla Motors (TSLA +1%) says a series of lawsuits challenging the acquisition of SolarCity (SCTY -1.5%) could delay the closing of the deal.
- The four separate legal challenges weren't entirely unanticipated, but the company notes in its filing that the potential for an injunction blocking forward motion on the deal is now in the mix.
- SEC Form S-4/A
Fri, Sep. 16, 11:33 AM
- Following Tesla's assertion that Mobileye (MBLY -1%), in regard to the former's internal computer vision technology efforts, "attempted to force Tesla to discontinue this development, pay them more and use their products in future hardware," a formal statement by Mobileye has been issued to repudiate the accusations.
- Excerpt: "It has long been Mobileye's position that Tesla's Autopilot should not be allowed to operate hands-free without proper and substantial technological restrictions and limitations. In communications dating back to May 2015 between Mobileye Chairman and Tesla's CEO, Mobileye expressed safety concerns regarding the use of Autopilot hands-free. After a subsequent face to face meeting, Tesla's CEO confirmed that activation of Autopilot would be "hands on." Despite this confirmation, Autopilot was rolled out in late 2015 with a hands-free activation mode. Mobileye has made substantial efforts since then to take more control on how this project can be steered to a proper functional safety system."
- Further: "Mobileye's deeply held view is that the long-term potential for vehicle automation to reduce traffic injuries and fatalities significantly is too important to risk consumer and regulatory confusion or to create an environment of mistrust that puts in jeopardy technological advances that can save lives."
- Mobileye instigated the conflict earlier this week with the declaration Tesla (TSLA +1.2%) was “pushing the envelope in terms of safety” and maintains it is the reason the two severed ties back in July.
Fri, Sep. 16, 2:38 AM
- The fingerpointing continues... Once Mobileye (NYSE:MBLY) learned Tesla (NASDAQ:TSLA) would be using its own vision system in upcoming versions of Autopilot, it "attempted to force Tesla to discontinue this development, pay them more and use their products in future hardware," according to a spokeswoman, who said that was the reason for their split back in July.
- Tesla's comments came a day after Mobileye told Reuters the company had broken ties because Autopilot was "pushing the envelope in terms of safety."
Thu, Sep. 15, 6:28 PM
- Tesla's (NASDAQ:TSLA) request for a new dealership license to sell its all-electric vehicles in Michigan is rejected by state officials.
- The license was denied because the company’s business model of selling its vehicles directly to consumers is illegal under Michigan law, according to a final order released today.
- The move indicates that the home state for Ford (NYSE:F) and GM will stick to its ban on selling new cars directly to consumers.
Thu, Sep. 15, 3:13 PM
- Tesla Motors (TSLA +2.2%) won a significant bid to generate 20 megawatts of storage energy to Southern California Edison as a backup for blackouts and shortages.
- The project will be located in Ontario, California.
- Bloomberg New Energy Finance says the battery packs are being produced in record time for the install.
- "The Gigafactory's ability to produce at a large scale will allow this system to be manufactured, shipped, installed and commissioned in three months," according to Tesla.
- More details on the development are available on Tesla's blog post covering the Powerpack contract.
- Shares of Tesla are up 2.58% on the day and are back over $200.
Thu, Sep. 15, 2:06 AM
- Mobileye's (NYSE:MBLY) Amnon Shashua said his company severed ties with Tesla (NASDAQ:TSLA) in July since the automaker was "pushing the envelope in terms of safety" with Autopilot.
- "It is not designed to cover all possible crash situations in a safe manner," he told Reuters. "No matter how you spin it... It is a driver assistance system and not a driverless system."
- In response, a Tesla spokeswoman said the company had never described Autopilot as an autonomous technology or self-driving car.
- Mobileye counts 27 automakers as customers for its collision detection systems, which represent around 70% of the current market.
Wed, Sep. 14, 1:25 PM
- Baird is in this week with a strong defense of Tesla Motors (TSLA +0.5%) on a very positive view of the potential for Autopilot to disrupt.
- Baird's bull case: "Although other manufacturers are introducing autopilot systems based on a suite of technologies (cameras, lidar, radar, etc.), we believe TSLA's radar-based system should provide improved functionality and increased safety since TSLA has solved the main challenges with radar, including object identification."
- Baird goes on to identify four specific positive Autopilot factors: 1) The ability to access a number objects. 2) Radar snapshots assembling every tenth of a second. 3) Fleet learning to put together geo-coded white list for objects. 4) Capacity to bounce radar from identifying upcoming object.
- An understated part of the Baird thesis is its view that the NHTSA is content with the new Autopilot changes.
- The investment firm rates Tesla at Outperform and keeps its $338 price target.
Wed, Sep. 14, 10:49 AM
- Reports in China indicate that a fatal crash of a Tesla Model S may have involved the use of the car in the Autopilot mode. Details are thin, but it's known that the Model S crashed into a stationery street sweeper on the left side of the lane.
- The accident occurred earlier in the year, but is being picked up now amid reports of a lawsuit against Tesla China.
- It's a fair point to say that singular accidents involving a Tesla receive more attention than large-scale problems at other automakers, but most analysts see the issue becoming more prevalent as more companies step in with their autonomous vehicles (partially or fully) to the mass market.
- Shares of Tesla (NASDAQ:TSLA) are down 0.26% on the day. Perhaps a surprise, but Tesla has traded rather evenly with the S&P 500 Index over the last five sessions.