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Tesla Motors Inc. is considering a new regional office in Atlanta that could bring several hundred jobs to the city. Tesla, the electric vehicle maker based in Palo Alto, Calif., has a large office near its factory in Fremont and another east of Reno, Nevada where a massive factory is being developed in multiple phases. Tesla does not have major corporate offices elsewhere in the United States.
Tesla Inc.’s third-quarter results are a ‘fork-in-the-road moment’ for the company, which still promises profits and sales of nearly half a million vehicles by year-end.
The Wall Street Journal has noted (UBER) has closer ties with Saudi Arabia than any other Silicon Valley company. After all, the kingdom’s sovereign wealth fund invested $3.5 billion in Uber (ticker: UBER) three years ago for preferred stock and warrants that converted to 72.8 million Uber common shares when the ride-hailing company went public this year. Public Investment Fund, or PIF, as Saudi Arabia’s sovereign wealth fund is known, has seen the value of its Uber stock investment fall by $1.1 billion to $2.4 billion as of Tuesday’s close at $32.53.
Whether billionaire Elon Musk's flagship company can start mass production quickly enough to hit stated targets is the question investors will want an answer to when Tesla announces third-quarter results on Wednesday. Tesla last week obtained the certificate it needs to start manufacturing cars in the country.
for his Brexit deal in a landmark vote on Tuesday night but suffered an immediate setback after MPs derailed his attempt to take Britain out of the EU on October 31. European Council president Donald Tusk proposed an extension until January 31 after MPs defeated a “programme motion” to fast-track exit legislation through the Commons.
Roll up, roll up, for the greatest show on earth. Tomorrow is Tesla’s third-quarter earnings, and Alphaville will be covering it on a live chat. So do pop by if you’ve got nothing better to do with your ...
(Bloomberg) -- The futuristic door handles on Tesla Inc.’s Model S are being blamed for a fatal crash in which a police officer was unable to pull a man to safety from his burning car.Omar Awan, a 48-year-old anesthesiologist, was driving his leased Tesla in February when he lost control on a south Florida parkway and the car slammed into a palm tree, according to a wrongful death lawsuit filed in state court in Broward County.A police officer couldn’t open the doors because the handles were retracted and bystanders watched helplessly as the car filled with smoke and flames, according to the complaint, which alleges the fire originated with the car’s battery.The door handles on the Model S are flush with the car and pop out -- “auto-present” in the words of Tesla -- when they detect that the key fob is nearby.“Fire engulfed the car and burned Dr. Awan beyond recognition -- all because the Model S has inaccessible door handles, no other way to open the doors, and an unreasonably dangerous fire risk,” according to the Oct. 10 suit. The complaint lists the cause of death as smoke inhalation and states that Awan had sustained no internal injuries or broken bones in the crash.Read More: What First Responders Don’t Know About Fiery Electric VehiclesTesla didn’t immediately respond to a request for comment.Consumer Reports said in 2015 that broken door handles were one of the most common problems with the Model S.Awan’s Tesla continued to burn for hours, reigniting several times even after firefighters had extinguished the flames and the car had been towed, according to the complaint.This isn’t the only case to fault the Model S’s lithium-ion batteries as flammable. The family of an 18-year-old who lost control of his Tesla at 116 miles per hour and crashed into a concrete wall last year blames an explosion of the battery for his death in an “entirely survivable” crash, according to a suit filed this month in state court in San Jose, California.Awan’s case is Awan v. Tesla Inc., 19-021110, Circuit Court of Broward County, Florida.To contact the reporter on this story: Robert Burnson in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: David Glovin at email@example.com, Peter Blumberg, Joe SchneiderFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
As global automakers race to put long-range electric vehicles on highways amid stricter emission laws, Japanese rivals are taking a niche approach and steering towards cheaper, pint-sized runabouts to make costly battery technology more accessible. At the Tokyo Motor Show that starts on Thursday, Toyota Motor, Nissan and others are due to show prototypes of one- and two-seater electric vehicles (EVs) designed for short distances with limited top speeds.
Boeing Co., Tesla Inc. and Microsoft Corp. headline an action-packed slate of Wednesday earnings. The aerospace giant will have to face investors Wednesday morning amid a new raft of controversy around the troubled 737 Max jets. Last week, reports surfaced indicating that Boeing (BA) misled regulators about the jets’ safety years before they were involved in two deadly crashes.
Tesla and BYD are in a race to dominate the global EV market and, with Musk and Buffett backing their respective companies, this billionaire battle won’t slow down any time soon
The car company that is driving the electric vehicle revolution is preparing to report its earnings after the bell Wednesday, October 23rd.
When Tesla Inc (NASDAQ: TSLA) reports earnings Wednesday after the bell, investors will likely continue to look for clues about whether the electric vehicle maker will be able to meet its full-year vehicle delivery forecast. A projected loss hasn’t stopped TSLA’s shares from rallying ahead of its earnings report—though shares are still down about 25% year-to-date (see figure 1 below). Earlier this month, the car maker said it had record deliveries of approximately 97,000 vehicles in Q3, apparently exciting investors enough to move the stock from a low of around $230 this month to above $250 despite the figure on deliveries – arguably the single biggest metric watched by investors – being short of analysts estimates.
On October 9, PG&E; cut power to 800,000 Californians as a precaution against wildfires. Elon Musk's tweet highlighted the Tesla Powerwall as an alternative.
(Bloomberg) -- Rio Tinto Group is starting pilot production of lithium in California and will consider an expansion to become the top domestic supplier in the U.S. as the world’s biggest miners look to boost their exposure to the electric car battery revolution.Work to reprocess waste piles from a 90-year-old mining site in Boron has successfully produced lithium carbonate -- needed in rechargeable batteries for electric vehicles and consumer technology, Rio said Tuesday in an emailed statement. Efforts are now focused on improving quality and lifting volumes, the company said.Rio is the first top diversified miner to add lithium output to its portfolio and comes ahead of a looming decision on development of its mine project in Serbia that analysts estimate could account for about 5% of world demand. Demand for lithium will advance about eight-fold to 2030 as EV adoption increases and the battery sector expands, BloombergNEF said in a July report.“If the trials continue to prove successful, this has the potential to become America’s largest domestic producer of battery-grade lithium -- all without the need for further mining,” Bold Baatar, chief executive officer of Rio’s energy and minerals division, said in the statement. Currently the only supplier in the U.S. is Albemarle Corp.’s Silver Peak operation in Nevada, according to the U.S. Geological Survey.Rio, the world’s No. 2 miner, has held discussions on the EV sector with key companies in the supply chain and executives have visited China’s battery producer Contemporary Amperex Technology Co. Ltd. and electric automaker Tesla Inc., according to people familiar with the producer’s plans, who spoke on condition of anonymity as details of the talks are private. CATL declined to comment. Tesla didn’t immediately respond to a request for comment.A pilot plant being assembled at Boron -- about 100 miles northeast of Los Angeles -- under a $10 million first phase will produce about 10 metric tons a year of lithium carbonate equivalent by chemically processing material from the pile of decades-old mining waste.Boron is part of a unit in California’s Death Valley that’s produced borates, materials used in laundry soap to components for nuclear reactors, since 1872. There’s at least 80 minerals to be found in material from the site, and staff had initially been combing the waste for gold and other elements when they discovered lithium, according to Rio.Rio will next consider a $50 million investment to build an industrial-scale lithium plant with capacity for 5,000 tons a year that could begin making sales into the battery market. That volume would be sufficient for batteries needed in about 15,000 Tesla Model S cars, the company said.While Rio’s competitors are also gearing up for forecast rising battery demand, their focus is on other commodities. Glencore Plc is aiming to add copper, nickel and cobalt output, while BHP Group is developing specialist nickel and battery cathode products and sees lithium as a less attractive option, Chief Financial Officer Peter Beaven said in May.Lithium prices have sunk since mid-2018, ending a three-year surge, as new operations have added supply and amid some signs of demand weakness. There’s probably currently enough capacity to supply the global market until the mid-2020s, according to BNEF.Rio previously weighed an offer for a stake in Soc. Quimica & Minera de Chile SA, one of the world’s top lithium producers, before deciding last year not to proceed.Separately, Rio has signed an agreement to enter the rare earths supply chain with the sale of monazite, a raw material that contains the critical elements, the company said. The material is part of the waste stream at Rio’s mineral sands operation in Madagascar.President Donald Trump has flagged concerns over the global supply of rare earths and a suite of other so-called critical minerals amid worries China, the dominant supplier of many of the materials, could restrict exports.Rio is also using a $3 million Defense Logistics Agency grant to boost recovery of rhenium, needed for jet-fighter engines, at a copper operation in Utah. It’s also working on a project to boost U.S. supply of indium, used in touch screens and solar panels.To contact the reporter on this story: David Stringer in Melbourne at firstname.lastname@example.orgTo contact the editors responsible for this story: Alexander Kwiatkowski at email@example.com, ;Edward Johnson at firstname.lastname@example.org, Keith GosmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tesla will release its third-quarter earnings results on October 23. Its stock is showing its typical pattern of volatility heading into its earnings week.
Tesla Inc. (NASDAQ: TSLA ) steps into the third-quarter earnings confessional Wednesday after the close of U.S. markets. Analysts are expecting that Elon Musk's company will report a loss of 46 cents per share ...