Options market is very good at establishing expected moves. Seems to indicate a $3 move expectation. I think it will be more in the 1.50 range, up or down.
They are contracted for 70,000 units per-year worth of cells from Panasonic per year (2014-2017) - enough for 70,000 MS 85 packs. OF course they need a reason to sell the battery cells - stationary storage is that way. As well to utilize the cells at superchargers to cut the daytime peak pricing of electricity there in some markets (mainly California).
What the article shows is that the company will not share details of what is really happening inside. Whether early 2013 or even today. Just like the hidden reservation counts, activity in China and more. Good luck.
As you can see from some of this writing - the board of directors of this firm then (and now?) are virtually useless in terms of actions and "seemingly" not complicit if their chairman is not giving them information that was actionable at the time. I've worked at such a company in the past where the CEO would not let board members talk with company employees. That company was a publicly traded firm - and eventually failed.
Some wonder why many of us got vocal after the DoE loan payoff in May 2013 and bond issues and stock pump. This is the reason. Floating a convertible bond with a conversion price of 161.88 and having IB pump the stock up through that point in August was the eventual continuous cause of the various short squeezes that pumped things up.
" It appears that Elon failed to reveal highly material information to investors "
That means he also hid information from underwriters of the bonds in May - soon after saying to investors that they didn't need to raise money at that time.
You mean the current CIO who was on staff in 2013 and prior and who is still there now hid financial information from the CEO, and thus the board of directors? Wouldn't that cause a vote of uncertainty of their capability and expulsion from the company?
Now they have made the company virtually un-sellable. To buy it today at this pps along with spending the additional billions for the GF and no real guarantee of a growing future market past the order rates of the current models - there is virtually nobody who would by the company right now.
At the time, the retained earnings were still -1.1 Billion. They would have to wash that out as well. It is -1.433 Billion now and rising every quarter. I think the details were pretty much "we got this far, either buy us now to help us out or we will have to go a different route, such as DoE loan repayment with bonds, more bonds, early release of D-models, stretching out Model X release and so on".
By slowing down charging to deter locals from charging, they may also deter future sales from that locale and cause negative news to spread. Why does Chicagoland have three supercharge sites situated near the population if they didn't want that to be used by locals regularly?
butch, one company cannot do the same thing in the car company as Netflix did in the electron delivery companies. A car company cannot buy more bandwidth and put up more servers and simply pay more license fees to movie production companies for a copy of a file and load it up onto more servers. Customers buy Netflix because it is good value for a small monthly fee. For $7.99 a month, you can replace a $60-100 dollar monthly cable or direct tv bill. This actually has a positive cash flow solution for a customer. For the cost of more servers and bandwidth.
For one car company to affect the auto business itself, it has to build its own network of delivery stores, service centers, recharge stations and more. A lot of CapEx to do a similar task that the distributor/dealer network does now. It will take literally 5-10 Fremont sized factories to break 5 Million units a year. It will take 3-5 GF battery plants to support them.
In the mean time, other manufacturers are building their own EVs and EREVs. And people are buying them. At a slow and steady rate of increase, not a large replacement swing. Total plug-in sales growth is possibly not going to break 10% this year in the USA. Higher worldwide, but the real money is in the USA where people pay-up for novelty as well as paying more than the economic benefit of the purchase. If the USA cannot see a big uptick in uptake of EVs and EREVs, there is no "Netflix" happening in the car industry.
The problem of comparing some electron-delivery company to an auto industry player is they are entirely different in scope, labor, partner/OEM and so on. Why not compare it to Sephora or McDonalds?
The "1500" (they stated 1400 undelivered) is a convenient subtraction of Nov 5 guidance of 33,000 minus 1400 or so to give 31,655 delivered.
The sales in January estimates do not indicate there was a bump up in January deliveries due to this. The real situation is just how many were really delayed other than the convenient subtraction number?
With two battery changes, Laguna Seca would be a good course. Still, not a lot of passing room but there is some. City courses are good because the point of the rounds is to give Electric car racing some sort of viewership. The LA race was free-entry to get people to come to the race.