Sunday, 18 November, 2018

Tesla Model Y approved for production

Does Tesla's Model 3 Performance earn its pricetag Tesla approves Model Y for production
Elsie Buchanan | 27 October, 2018, 19:36

With a profitable quarter now in the books, Tesla CEO Elon Musk is looking to meet the next set of challenges, starting first with making a profit next quarter. It also seems to have moved on from intermittent delivery problems it experienced in September.Made cars more cheaplyBetween this year's second and third quarter, Tesla shaved $10,000 off the costs of making a vehicle - thanks to a lower cost of raw materials as well as fewer work hours spent on each auto.

Rising 12 percent at one point in early trading, the move in shares added as much as $6 billion (R87 billion) to Tesla's market value, capping a tumultuous few months for the company and its billionaire chief executive, Elon Musk.

"It was a truly historic quarter for us", he said during the company's earnings conference call.

In order to get the cheaper Model 3 underway, Musk stressed that Tesla still has "more work to do", and suggested that it will need to lower production costs to below $US30,000 so it can do so profitably.

Shares in the company leapt 9.8 percent to $316.80 in after-market trades that followed release of the earnings figures for its fiscal third quarter. The exact statement was as follows: "In order to significantly increase the affordability of Model 3, we have made a decision to accelerate our manufacturing timeline in China".

Musk meanwhile will be replaced as Tesla's chairman imminently after a ruling from the SEC that also saw the South African-born entrepreneur hit with a fine of $20 million (£15.6 million). Additionally, the company has plans to start production on a crossover version of the Model 3 known as the Model Y. Despite logistic and delivery issues, Tesla said the Model 3 was the best-selling vehicle in the U.S.in terms of revenue and 5th in terms of volume.

Tesla CEO Elon Musk once again pointed out that the company now did not intend to raise equity or debt. Tesla also posted $52 million (£40.5 million) from the sales of regulatory tax credits and $23 (£17.9) million in other income.

Trump refrains from attacking Democrats
This is another thing that the Federal Bureau of Investigation and local law enforcement in NY are investigating. The club of living former Presidents is a small one and Obama and Clinton are two of just five of its members.


Musk says the Model Y will likely be unveiled in March.

Tesla only reached a goal to build 5,000 Model 3s per week in June, although current production has fallen short of that.

On production, Wood was bullish, saying Tesla will "iterate and iterate until they get it right, and then, they are going to be able to scale enormously when they get it right".

"We will also have a factory in Europe long term, because it is pretty silly to make cars in California and ship them to Europe", Musk said.

Central to Wood's argument that Tesla could trade as high as $4,000 per share is the idea that Tesla will orient itself away from the capital-intensive vehicle manufacturing business toward software.

Things may finally be turning around for Tesla.

It has been accelerating production of its Model 3, yet the company remains burdened by billions in debt.

Recommended

Iran: Saudi Arabia wouldn't kill Khashoggi without U.S. blessing Iran: Saudi Arabia wouldn't kill Khashoggi without U.S.  blessing Saudi officials first denied any involvement in his disappearance, saying he had exited the consulate through the back door. The Saudi regime has consistently changed its story on the October 2 death of The Washington Post contributing columnist.

Tim Cook Calls for Strong Privacy Protections Tim Cook Calls for Strong Privacy Protections Your profile is a bunch of algorithms that serve up increasingly extreme content, pounding our harmless preferences into harm. He added , "this process creates an enduring digital profile and lets companies know you better than you may know yourself".

'Suspicious packages' sent to former US VP Joe Biden 'Suspicious packages' sent to former US VP Joe Biden The suspicious packages came two days after billionaire George Soros received an explosive device at his home in NY on Monday. Law enforcement officials were still uncertain whether the devices were poorly designed or never meant to cause physical harm.

Seven hours, 18 innings Seven hours, 18 innings Sox second baseman Ian Kinsler fielded the ball, but his off-balance throw to first sailed outside the reach of Christian Vazquez. On Wednesday night, the LA Phil tweeted a poll asking its followers what song it should play: "I Love L.A." or "Sweet Caroline".

Group agrees to stop firing rockets at Israel Group agrees to stop firing rockets at Israel At least 213 Palestinians have been killed by Israeli fire in Gaza since the protests began, according to figures collated by AFP. Widespread desperation among Gaza's 2 million residents has fueled the participation in the Hamas-orchestrated protests.

Trump launches new broadside against the Fed: 'I'm very unhappy' Trump launches new broadside against the Fed: 'I'm very unhappy' Trump is also not happy with some of the members of the Fed he has already appointed. He's also slammed it as " out of control " and said it was " going loco ".

NYPD investigating new suspicious package found in New York City building NYPD investigating new suspicious package found in New York City building That package had an incorrect address, so it was redirected to Wasserman Schultz's office in Sunrise, Fla., and recovered there. A suspicious device was also found at the Time Warner Center, where CNN is based, in New York, CNN reported on Wednesday .

Nationwide protests in India over police agency turmoil Nationwide protests in India over police agency turmoil Loktantrik Janata Dal leader Sharad Yadav, CPI leader D Raja and TMC's Nadimul Haque also joined the Congress protest. But the problem will arise if the Supreme Court decides to reinstate Alok Kumar Verma as the CBI director.

Prince Harry & Meghan Markle's Plane Forced to Abort Landing in Sydney Prince Harry & Meghan Markle's Plane Forced to Abort Landing in Sydney Samantha has also spoken out about Meghan's pregnancy, saying she wants her sister to be happy, and everyone needs to be positive. Prince Harry and Duchess Meghan , formerly Meghan Markle , were returning to Australia from Tonga on their 16-day royal tour .

Rohit, Vijay & Parthiv Recalled For Australia Test Series; Injured Pandya Misses Out Rohit, Vijay & Parthiv Recalled For Australia Test Series; Injured Pandya Misses Out The BCCI has also selected Vijay, Ajinkya Rahane, Hanuma Vihari , Parthiv Patel, Prithvi Shaw for the India A tour of New Zealand. Another notable inclusion comes in the form of Parthiv, who too last played a Test for India in the series against South Africa.

Mohammed bin Salman calls Khashoggi murder a 'heinous crime' Mohammed bin Salman calls Khashoggi murder a 'heinous crime' But Sabah , another pro-government newspaper, says Saudi Arabia has yet to give Turkish authorities permission for a search. Khashoggi, who was a columnist for The Washington Post , died inside the Saudi consulate in Istanbul earlier this month.

Former president Mahinda Rajapaksa sworn in as prime minister Former president Mahinda Rajapaksa sworn in as prime minister Sirisena, who was health minister under Rajapaksa, and Wickremesinghe joined forces to defeat Rajapaksa in the 2015 election. In a telephonic conversation with a TV station, Wickremesinghe said "I will continue to be the Prime Minister".

Why all women should be breast aware Why all women should be breast aware This means they can receive the medical benefit of a full mastectomy, while leaving the nipple and areola fully intact. It was nice to see such a big group of the Kean community come out to support breast cancer".

Red Dead Redemption 2: Things you need to know Red Dead Redemption 2: Things you need to know After what has felt like an eternity of anticipation, Rockstar's Red Dead Redemption 2 hits shelves worldwide today, October 26. Alongside Red Dead Redemption 2 comes the Red Dead Redemption 2 companion app for Android and iOS .

President of CNN blasts White House over media attacks President of CNN blasts White House over media attacks A package containing a pipe bomb was found in the mail room of CNN's NY bureau in the Time Warner Center on Wednesday. But once again he didn't mention CNN . "It's as if it can't roll off the tongue unless you're complaining about it".