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Posts Tagged ‘Tesla’s Elon Musk’ No cash or bonuses unless carmaker hits milestones. by Paul A. Eisenstein on Jan.23, 2018 Elon Musk won't receive any compensation from Tesla until the EV maker begins hitting select stock and operational milestones. With Tesla still struggling with serious production problems and a balance sheet that has been sinking deeper into the red, the battery-carmaker said Tuesday that its billionaire founder and CEO Elon Musk won’t be in line for any form of compensation until it reaches stock and operational milestones. While investors continue to back the company, its shares rebounding sharply since a deeper-than-expected third-quarter loss was announced last autumn, there has been growing concern about the delays in ramping up production of the new Model 3. That has raised concerns the company might have to raise more capital to compensation for its rapid cash burn. Subscribe Now! “Tesla and all of its shareholders” will have to perform “extraordinarily well before Musk is to receive any form of compensation going forward, the company said. But the announcement also took aim at another concern that some investors and analysts have raised in recent months: whether the South African-born Musk would remain onboard. (more…) Tags: Musk gets paid when Tesla hits milestones, Musk news, Tesla cuts Musk compensation, Tesla's Elon Musk, TheDetroitBureau.com., auto news, ev news, new Musk compensation plan, paul a. eisenstein, tesla news, thedetroitbureau Posted in Automakers, Automobiles, Business, EVs, Earnings, Electrified Vehicles, Executives, Financials, GM, Investors, Monthly Results, Personalities, Sales, Technology, Tesla | 2 Comments » Long-delayed debut scheduled for Thursday evening. by Paul A. Eisenstein on Nov.15, 2017 Tesla CEO Elon Musk is telling folks to be ready to have their "mind blown" with the long-awaited introduction of Tesla's semi truck on Thursday. Prepare to have your mind blown “clear out of your skull,” or so promises Elon Musk, the Tesla CEO confirming the repeatedly delayed debut of his company’s new battery-powered semi-truck will finally take place on Thursday evening. Big trucks suck down diesel fuel at a tremendous rate and they generate a disproportionate share of transportation-based pollution. In Los Angeles, for example, the semis waiting at the city’s two huge ports are considered one of its primary smog sources. So, there’s growing demand for clean trucks. Musk, for his part, has been broadly hinting that Tesla’s answer is a semi that will share some of the same powertrain technology as its battery-powered Models S, X and 3. Subscribe Now! “This will blow your mind clear out of your skull and into an alternate dimension,” said the never-subtle, South African-born entrepreneur in his latest truck tweet. (more…) Tags: Elon Musk news, Tesla "clear out your skull", Tesla Model 3 problems, Tesla semi truck, Tesla truck debut, Tesla truck delayed twice, Tesla's Elon Musk, TheDetroitBureau.com., auto news, paul a. eisenstein, tesla news, thedetroitbureau, truck news Posted in Automobiles | 1 Comment » Musk goes on the defensive. by Paul A. Eisenstein on Nov.02, 2017 Tesla CEO Elon Musk said the company is still working on the bottlenecks that have hampered Model 3 production, crimping Tesla earnings. When Tesla officially rolled the first of its new Model 3 sedans down the assembly line in mid-July it was billed as a historic moment. It was not only the California EV-maker’s first mainstream model, but also marked the first time Tesla had met its original production schedule, the previous launch of the Model X coming two years late. Less than four months later, however, it’s clear that things haven’t been running as smoothly as Tesla and its CEO Elon Musk would like. The Model 3 line at the company’s Fremont, California, plant is barely moving, with workers frequently having to sub for stalled automation systems. That contributed to a record $619 million loss for the third quarter, the numbers far worse than even Wall Street’s increasingly pessimistic analysts had forecast. We Keep You in the Know! But is this just a “flash in the pan,” as Tesla executives insisted during a Wednesday evening conference call, a temporary setback that will soon be overcome, or is it the sort of critical failure that could have a much longer impact on Tesla’s health? (more…) Tags: Model 3 plant bottlenecks, Tesla Fremont plant, Tesla Model 3 issues, Tesla Model 3 launch problems, Tesla financial problems, Tesla production problems, Tesla's Elon Musk, TheDetroitBureau.com., auto news, paul a. eisenstein, tesla earnings, tesla news, thedetroitbureau Posted in Automobiles | Comments Off Investors largely ignore concerns. by Paul A. Eisenstein on Oct.09, 2017 Tesla CEO Elon Musk said the company is diverting resources from its semi truck launch to Model 3 production, which is behind schedule. Tesla’s troubles continue to mount, even as investors appear to be holding onto a long view of the company, largely ignoring delays that include the slow ramp-up of production of the critical Model 3 sedan. The California-based battery carmaker is again delaying the much-anticipated unveiling of its first-ever electric semi-truck. The event originally was scheduled for September then pushed back to Oct. 26. It now will take place Nov. 16, said CEO Elon Musk. News You Can Trust! The latest delay comes because Tesla is “diverting resources,” Musk said in a tweet, to resolve problems that have resulted in extremely slow production of the Model 3. The company is still largely having to hand-assemble the electric sedan, according to several reports, pushing it far behind on the ramp-up of a vehicle that is expected to finally bring Tesla into the black after years of substantial losses. (more…) Tags: Tesla Model 3 problems, Tesla Model 3 production slow, Tesla semi truck debut delayed, Tesla's Elon Musk, TheDetroitBureau.com., auto news, paul a. eisenstein, tesla news, tesla problems, thedetroitbureau Posted in Automobiles | Comments Off Company lops money off top models this time. by Michael Strong on Aug.31, 2017 Tesla CEO Elon Musk cut prices on vehicles for the second time in the last two months. Is Tesla feeling pinched by ever-growing competition? For the second time in the last two months, Elon Musk has gone all “Crazy Eddie,” cutting prices this time on the EV maker’s highest-priced models. While “Crazy Eddie” is an exaggeration, the company cut the prices on the Model S and Model X 100D by $3,500. The performance versions of each, the P100D, saw a $5,000 price drop. So is this a proactive move to head off competitors? Technology News! Nah. Tesla says production costs for the 100-kilowatt battery packs have falling, and the company is simply passing along the savings to potential customers. The new price tag is similar to the prices seen before a price increase on the same models back in April of this year, but the current models offer more features than before. (more…) Tags: Tesla Model S pricing, Tesla cuts Model X and Model S price, Tesla cuts prices again, Tesla cuts top-end model prices, Tesla's Elon Musk, TheDetroitBureau.com., auto new, ev news, michael strong, tesla model x pricing, tesla news, thedetroitbureau Posted in Automobiles | Comments Off Tesla founder says 100MW storage battery done in 100 days or its free. by Michael Strong on Jul.07, 2017 Tesla CEO Elon Musk guaranteed the company's 100MW storage battery in South Australia will be ready in 100 days or it's free. Elon Musk continues to add to his reputation as a gambling man. Tesla’s just won the contract to produce a 100MW hour lithium ion, grid-style storage system for South Australia. Tesla’s founder and CEO told officials that the company would build it in 100 days or it would be free: a $50 million guarantee. News Now! “There will be a lot of people that will look at this -’Did they get it done within 100 days? Did it work?’” Musk told reporters in South Australia’s capital city of Adelaide. “We are going to make sure it does.” (more…) Tags: Musk vow battery finish on time or free, Tesla 100MW storage battery, Tesla Australian battery project, Tesla's Elon Musk, Teslas 100MW lithium ion storage battery, Tesla’s South Australia battery, TheDetroitBureau.com., michael strong, thedetroitbureau Posted in Automobiles | Comments Off EV maker inking deal with city of Shanghai. by Michael Strong on Jun.21, 2017 Tesla is apparently closing in on a deal to build new cars in Shanghai. Not long after suggesting a new plant in India was coming, it appears Tesla’s Elon Musk is making headway on plants around Asia, especially China. The EV maker is reportedly close to an agreement with the city of Shanghai to build a new plant in the city’s Lingang development zone. The deal could be done in just a few days, Bloomberg reported. Technology and Business News! China’s central government has been pushing hard for an increase in electric vehicle sales in the last two years, providing incentives and easing regulations to help manufacturers get moving on the needed escalation of EVs. (more…) Tags: China-built Tesla models, Tesla in China, Tesla opening plant in Shanghai, Tesla plant in China, Tesla selling in China, Tesla's Elon Musk, TheDetroitBureau.com., auto news, michael strong, tesla news, thedetroitbureau Posted in Automobiles | Comments Off EV maker searching for “individual solutions” for each company. by Michael Strong on May.05, 2017 Elon Musk's insistence that Tesla Grohmann's resources be focused on the company's Fremont, California plant to ensure delivery of the Model 3 this summer. Tesla continues to work on the issues cropping up at its Tesla Grohmann subsidiary in Germany, including how best to deal with the engineering unit’s non-Tesla customers, such as BMW, Volkswagen and Daimler. How best to deal with these legacy customers is the root cause of the departure of the subsidiary’s former owner, Klaus Grohmann. Tesla acquired the former Grohmann Electronics late last year to help improve the California-based EV maker’s manufacturing operations. Global News! Grohmann specializes in “building the machines that build the machines,” Tesla CEO Elon Musk noted at the time. The intention was to have Klaus Grohmann staying to help oversee the transition and direct the work done for Tesla’s Fremont, California plant. (more…) Tags: Klaus Grohmann, Tesla BMW Volkswagen Daimler, Tesla German subsidiary, Tesla Grohmann talks, Tesla dealing with Grohmann customers, Tesla talking with Grohmann customers, Tesla's Elon Musk, TheDetroitBureau.com., auto news, ev news, michael strong, tesla news, thedetroitbureau Posted in Automobiles | Comments Off Leaves after disagreement over handling of previous customers. by Michael Strong on Apr.27, 2017 Tesla CEO Elon Musk lost another top executive, Klaus Grohmann, after the two disagreed about how to handle Grohmann's now former customers. As Tesla CEO Elon Musk continues to play whack-a-mole trying to eliminate potential roadblocks to getting the EV maker’s mainstream model, the Model 3, into production on schedule, there have been a few glitches. The most recent being departure of Klaus Grohmann, who left last month after a clash with Musk. Grohmann was leading the company’s efforts to improve the “machines that build the machines” at Tesla. The Inside Story! The pair disagreed over Musk’s insistence on shedding long-time customers – and competitors to Tesla – from Grohmann’s company, which Tesla had acquired in November, according to Reuters. The carmaker wanted all of its new engineering subsidiary’s resources focused on bringing the Model 3 to market on time, with high quality and in large numbers: 500,000 units annually by 2018. (more…) Tags: Grohmann clashes with Musk, Klaus Grohmann leaves Tesla, Musk Grohmann departure, Tesla Grohmann Automation, Tesla brain drain, Tesla executives leaving, Tesla's Elon Musk, TheDetroitBureau.com., auto news, elon musk, ev news, michael strong, tesla news, thedetroitbureau Posted in Automobiles | Comments Off Stock analysts as analysts issue new warnings. by Paul A. Eisenstein on Feb.27, 2017 Investors are growing increasingly worried about Tesla's finances, sending its stock tumbling again. Tesla shares took another sharp dip on Monday, continuing a decline triggered by the maker’s weak fourth-quarter earnings, and the admission by CEO Elon Musk that the battery-carmaker’s finances were “getting very close to the edge.” Shares were off 4.2% at the end of Monday trading, to $246.23, as Goldman Sachs became the latest to turn on Tesla, analyst David Tamberrino downgrading the maker’s stock from “neutral” to “sell.” The market turned bearish when, last week, Tesla reported that it lost $121.3 million, or 78 cents a share, during the final quarter of 2016. Beyond the Headlines! That might have been taken in a more positive light, considering that was less than half the $320.4 million deficit posted during the fourth quarter of 2015. But Musk struck a cautious note when advising analysts and media during a conference call that the company has been burning through cash at a frantic rate as it prepares to introduce its new Model 3 sedan over the summer. (more…) Tags: Tesla Goldman Sachs analyst David Tamberrino, Tesla economic problems, Tesla finances tight, Tesla financial results, Tesla short on money, Tesla's Elon Musk, TheDetroitBureau.com., auto news, ev news, tesla news, thedetroitbureau Posted in Automobiles | 1 Comment »
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Tesla CEO'su Elon Musk, Model 3'ün performans modelini ve çift motorlu, 4 çeker versiyonunu Twitter hesabından yaptığı açıklamayla duyurdu. Temmuz ayında... Etiket - tesla Tesla'nın bu hafta içinde 3.500 tane Model 3s üretmesi, şirketin olumsuz gidişatını düzeltebilecek bir adım olabilir. Tüm dünyada sınırlı sayıda üretilecek olan ve ilk olarak Elon Musk'a hediye edilecek iPhone X kılıfları, telefonun adeta bambaşka bir görünüme bürünmesini... Elon Musk'ın kurucusu ve CEO'su olduğu elektrikli araç üreticisi Tesla'nın son yatırımcısı ünlü milyarder George Soros oldu. Soros ilk üç ayda Tesla'dan 35... Motor gücüne fazlası ile güvenen Tesla Model X, 135 tonluk bir uçağı çekerek Guinness Dünya Rekoru kırmayı başardı. Zorlu günler geçiren Tesla'nın yeni hamleleri merakla beklenirken, şirketin yeni ve gizemli aracıyla ilgili bir video geldi. Bu yılın başından beri bir iyi bir kötü haberini aldığımız Tesla, Bloomberg'in açıklamalarına göre her dakika 6500 dolar kaybediyor. Kimi zaman söylediğimiz ufak bir kelimenin sonucu bambaşka sonuçlar doğurabiliyor. Elon Musk ise bu konudan son dönemlerde muzdarip olan önemli bir isim. Bu... Tesla CEO'su Elon Musk, şirketin yeni crossover aracı Model Y'nin 2020 yılında üretime gireceğini söylerken, aracın bir üretim devrimi getireceğini söyledi. Teknoloji ve iş dünyasında patent davaları alışık olmadığımız bir durum değil, ancak Nikola Motor'un Tesla'ya açtığı dava oldukça kallavi görünüyor. Dünyanın en yenilikçi otomotiv firmalarından birisi olan Tesla’nın kurucu CEO’su Elon Musk, şirkette sözü geçen hissedarlar tarafından CEO’luk görevinden... Otomotiv sektörü, günümüzün en dinamik ve ven önemli sanayi alanlarından. Ancak yenilikçi kimliği ile ön plana çıkan Tesla, büyük bir finansman ve üretim krizi... Tesla, haftada 2,500 Model 3 elektrikli otomobil üretme hedefine ulaşamadıktan sonra, CEO Elon Musk neyin ters gittiğini anladığını söylüyor.