Wed, Mar. 25, 8:55 AM
- Tesla Motors (NASDAQ:TSLA) is cut to an Underperform rating by CLSA.
- Snippets from the analyst note are below.
- "Based on discussions with the company and initial margins for the Model S, we believe Model X margins in 2H15 will be more dilutive than previously thought."
- "We believe the stock could continue to underperform this year, as investors debate Tesla's demand and earnings trajectory."
- "Longer term, though, we continue to believe the stock is attractive."
- CLSA lowers it price target to $220 from $275.
- TSLA -1.69% premarket to $198.32.
Tue, Mar. 24, 9:58 AM
- Tesla Motors (TSLA +0.4%) has been approved for a new-energy program in Shenzhen.
- Model S vehicles will be included as part of the 20K license plate tags set aside in the Chinese municipality near Hong Kong.
- The development takes place in the home city of EV automaker BYD Co.
- Previously: Dark cloud over China auto market (Mar. 04 2015)
- Previously: Meet the Chinese Gigafactory (Mar. 14 2015)
Fri, Mar. 20, 11:10 AM
- A self-driving car from Tesla Motors (NASDAQ:TSLA) would be considered legal in 45 states at the moment, according to analysis from Wired.
- That 90% ratio is expected to change.
- The self-driving issue is likely to be teed up politicians and regulators over the next year as Tesla's new software update pushes up the timetable on the autonomous car concept.
- In Germany, for example, an explicit ban exists on autonomous driving.
- Another riveting puzzle: How does the software code get tested?
- There's also the question of what the insurance industry will have to say about the burgeoning technology and how much advanced sensor components will cost.
- Automobile experts think some functions such as self-parking, car retrieval features, and collision prevention technology will be approved federally and locally - while the full Muskonian dream may be a reach.
- BMW (OTCPK:BAMXY), Google (NASDAQ:GOOG), Audi (OTCQX:VLKAY), Mercedes-Benz (OTCPK:DDAIF), and Nissan (OTCPK:NSANY) are the other companies/brands out in front with self-driving car development.
- The Detroit Three (GM, F, FCAU) are mainly just kicking the tires on the concept.
- Previously: Tesla Motors talks range and self-driving features (Mar. 19 2015)
Thu, Mar. 19, 12:30 PM
- A Tesla Motors (NASDAQ:TSLA) conference call today focused heavily on software upgrades and self-driving car features.
- The company announced a new over-the-air software update will include a range assurance alert to guide Model S drivers when they need to recharge.
- The feature will make it nearly impossible to run out of range, promises CEO Elon Musk.
- The CEO calls driving range of 250 miles to 300 miles the "sweet spot" for the EV industry.
- A trip planner will also be an add-on.
- The upgrade will unveil Tesla's automatic emerging braking feature which will be included in all future models.
- Blind spot and collision warnings are part of the new platform as well as auto steering.
- The EV automaker shows it's near the lead in the autonomous driving car race with a new "summon" feature that will bring your car to you. Self-parking is also an option.
- The Model X will arrive this summer, says Musk.
- No company financial information was discussed during the call.
- Shares of Tesla are down 1.23% to $198.45 and sit on their lows.
Wed, Mar. 18, 3:26 PM
Tue, Mar. 17, 3:36 PM
- It's been a quiet week so far with Tesla Motors (TSLA -0.2%) as investors wait to see what a driving range update on Thursday is all about.
- Several analysts have suggested the software upgrade will include an improved frequency modulation technique (DC to AC conversion) which could boost the range of Tesla Model S vehicles.
- Global Equities Research thinks Tesla engineers have some patent applications (#20140253023, #20140209344, #20140152315, #20140153150, #20130328531, #20130307491) pending that could give the EV company an advantage over other auto manufacturers with its inverter technology.
- An advanced reporting system or a new charging partnership have also been teed up as potential ways Tesla may tackle the issue of driving range anxiety.
- Previously: Tesla to unveil Model S software update (Mar. 16 2015)
Mon, Mar. 16, 2:29 AM
- Tesla (NASDAQ:TSLA) will present a software update to its Model S vehicle at a news conference on Thursday that is designed to allay fears that drivers will run out of power for their cars, Elon Musk announced on Sunday.
- "Tesla press conf at 9am on Thurs. About to end range anxiety ... via OTA software update. Affects entire Model S fleet," Musk said in a tweet.
Sat, Mar. 14, 10:41 AM
- BYD Company sold a subsidiary to Holitech this week for 2.3B yuan ($368M).
- The Chinese company said in its filing with the Hong Kong exchange that it intends to allocate more resources to develop its new-energy vehicle business to expand on existing levels of electric car and bus production.
- A new 3B yuan ($479M) bond offering from BYD is also in the works.
- BYD is emerging as the main competitor to Tesla Motors (NASDAQ:TSLA) in the electricity storage industry with plans to triple battery production.
- Execs with BYD maintain the company could produce ~34 GWh of battery capacity by 2020 if demand trends are strong - a pace that rivals projections for Tesla's Gigafactory production.
- Berkshire Hathaway (BRK.A, BRK.B) owns a sizable stake in BYD Company (OTCPK:BYDDY, OTCPK:BYDDF).
- BYD's aggressive positioning could have some impact on companies tied to the lithium industry.
- Potential lithium plays: OTCPK:PCRFY, ARTX, SQM, ENS, OTCQX:WLCDF, FMC, LIT (add your own in the comment stream).
- Previously: Dark cloud over China auto market (March 4)
Fri, Mar. 13, 10:07 AM
- Tesla Motors (TSLA -1.3%) reassigns Jerome Guillen to a customer-satisfaction position away from duties as the automaker's global sales chief.
- The company is looking to hire separate executives to head sales operations in Asia, North America, and Europe.
- Deutsche Bank reduced EPS estimates on Tesla in a revision based in part on foreign currency action. 2011 EPS is taken to $0.11 from $0.52 and 2016 goes to $1.75 from $2.00.
- Long-term potential on Buy-rated Tesla overrides the short-term F/X impact, according to DB.
- A video note from Morgan Stanley isn't particularly helpful. Tesla shares could multiple by 10X or lose half their value during a wild ride, surmises MS.
- The firm also gives an Orwellian twist to the story by noting Tesla can monitor drivers 24 hours a day through its advanced software.
Thu, Mar. 12, 7:57 AM
- Toyota (NYSE:TM) confirms that yesterday's recall of RAV4 EVs due to a software flaw in the propulsion system involved a component supplied by Tesla Motors (NASDAQ:TSLA).
- The recall only involved 2.5K vehicles - a minor amount compared to the high-profile GM (ignition switch) and Honda (airbag) recalls over the last year.
- Details on the RAV4 EV issue are limited as automakers typically clam up when asked for breakdowns on recall costs and supplier relationships.
- The partnership between Toyota and Tesla ended last year with the Japanese automaker turning part of its focus to hydrogen-powered cars.
- Previously: New round of Toyota recalls total 112.5K (Mar. 11 2015)
Tue, Mar. 10, 6:11 PM
- Tesla Motors (NASDAQ:TSLA) says it can deliver its top-of-the-line P85D Model S dual-motor, four-wheel-drive electric sedan within 20 days, far shorter than its less expensive models and indicating it has shifted production to the $105K-and-up sedan to boost revenue, WSJ reports.
- TSLA’s online ordering tool this week shows the P85D is available for delivery in late March, while the $71K-and-up single-electric motor Model S is first available in May.
- The short wait time - in the past year deliveries have been as long as three months - raises concerns about the strength of demand for TSLA’s pricey cars, the report says.
Tue, Mar. 10, 12:48 PM
- Tesla Motors (TSLA +1.2%) is higher on the day on solid volume after starting off in negative territory.
- A Tesla presentation at the ROTH Conference in California on the Gigafactory is shifting some focus away from the automaker's struggles in China.
- The early part of the presentation has covered the potential of the Gigafactory without going into specifics.
- Last week, CEO Elon Musk tweeted a link to a picture of the Nevada site in an attempt to show construction was firmly on target.
- Shares of Tesla are down 13.3% YTD.
- ROTH Conference webcast
Mon, Mar. 9, 2:57 AM
- Tesla (NASDAQ:TSLA) has confirmed that it will cut jobs in China as it continues to grapple with slow sales in the world's biggest car market.
- Tesla declined to specify how many jobs would be cut, but China's Economic Observer reported earlier that the automaker would eliminate 30% of its Chinese staff, or about 180 of its 600 employees.
- According to a Reuters report last month, Tesla only sold 120 cars in China during January.
- Previously: Does Tesla Motors have a China problem? (Feb. 10 2015)
Fri, Mar. 6, 3:59 PM
- Tesla (TSLA -3.4%) says construction of its Nevada Gigafactory remains on schedule despite a report from a local newspaper that said the project was delayed.
- The International Brotherhood of Electrical Workers union had posted on a jobs board that the construction project had been cut back 80%, according to a report in the Reno Gazette-Journal.
- The plant, which may cost as much as $5B, is designed to more than double the world’s supply of lithium-ion batteries, driving down costs and making electric cars more affordable.
Wed, Mar. 4, 1:59 PM
- Tesla Motors (TSLA +0.3%) is advertising for 78 open positions for its new stationary-storage unit.
- The company calls the business a multi-billion dollar revenue maker in the near term in one of the job descriptions (see DevOps posting).
- Tesla has promised more details on its energy storage plans in the near future after listing it as a current product in recent SEC filings.
- Analysts have noted the potential for the company to realize lusher margins in storage supply than automobiles.
- Tesla Motor's Annual Report (10-Q filing)
Wed, Mar. 4, 12:34 PM
- Investors betting on the Chinese automobile market need to factor in how runaway pollution impacts investment potential, warn analysts.
- The air Pollution index in China has hit dangerous levels this week with Beijing registering a 168 today and Nanjing hitting a shockingly high 288 yesterday (extremely unhealthy).
- Other cities with an "unhealthy" reading on air quality include Guangzhou, Nanjing, Maanshan, Chengdu, Chuzhou, Zhenjiang, Yahgzhou, Wuhu, and Hong Kong.
- Reports indicate the Chinese population has become more concerned about the medical ramifications of long-term exposure to pollution.
- Some automobile industry watchers think foreign car manufacturers could benefit at the expense of domestic automakers if the government in China is to take further steps to push low-emission cars and EVs.
- The other side of the equation is the restrictions placed on car sales in certain regions in the nation.
- China auto sales are expected to rise 8.3% this year.
- China-related auto stocks (including JVs): KNDI, OTCQX:VLKAY, GM, F, OTCPK:DDAIF, TSLA, OTCPK:BAMXY, OTCPK:BCAUY, OTCPK:GWLLY, OTCPK:GWLLF, OTCPK:GELYF, OTCPK:GELYY, OTCPK:DNFGF, OTCPK:DNFGY, OTC:HYMLF, CAAS, SORL, OTCPK:BYDDY, OTCPK:BYDDF.
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