|Bid||226.03 x 800|
|Ask||226.12 x 1200|
|Day's Range||221.70 - 226.73|
|52 Week Range||176.99 - 379.49|
|Beta (3Y Monthly)||0.33|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 22, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||248.50|
Estée Lauder, Uber, Google, Tesla, Microsoft and Nvidia are the companies to watch.
Tesla is pitching customers on a new rental offering for solar power as a wayto revive the flagging fortunes of its renewable energy business
In a series of tweets yesterday, Tesla (TSLA) CEO Elon Musk announced the company is relaunching its solar roof, letting customers rent the product.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.It’s a trope that’s been around roughly as long as Elon Musk has been in the car business: When a new electric vehicle is unveiled, it’s dubbed a potential “Tesla killer.”But from the flaming-out of Fisker to present day, Tesla has largely dominated the American electric-vehicle market. Musk has even managed to expand the company’s preeminence over the still small segment despite two new battery-powered luxury SUVs arriving in U.S. showrooms the last 10 months: Jaguar’s I-Pace and Audi’s e-tron.Their starts are the latest indications that legacy automakers aren’t assured instant success when they roll out new plug-in models. Tesla’s Model S and X have largely held its own against the two crossovers that offer shorter range and less plentiful public charging infrastructure. Jaguar and Audi also lack the cool factor Musk has cultivated for the Tesla brand by taking an aggressive approach to autonomy and using over-the-air software updates to add games and entertainment features.“If a customer is choosing the I-Pace over the comparable Tesla, they are making the conscious decision: I don’t want the Tesla,” said Ed Kim, an analyst at the car-market research and consulting firm AutoPacific. “You really have to be someone who doesn’t like Tesla, who doesn’t want the Tesla product, in order to go for this.”Tesla’s Model X and Model S each boast more than 300 miles of range, and the cheaper Model 3 travels 240 miles between charges. Jaguar’s $69,500 I-Pace is rated at 234 miles, and Audi’s $74,800 e-tron registers 204 miles.Formula EJaguar’s marketing team spent years laying the groundwork to introduce the I-Pace. In 2016, the brand joined Formula E, an open-wheeled, electric-powered race circuit similar to Formula One.“We had an electric car in our development plan -- the I-Pace -- at the time,” said James Barclay, Jaguar’s racing director. “We had to create an awareness about the fact that we had an electric car coming to market, firstly, and to showcase why you’d buy a Jaguar electric vehicle over something else.”Porsche and Mercedes-Benz are also joining Formula E for the 2019-2020 season to help generate buzz for the new all-electric models they have coming out. The circuit makes stops in cities including New York, Hong Kong and London, which the brands are banking on as major markets for plug-in cars.“City centers are where there’s going to be a really good application for electric vehicles,” said Kim McCullough, Jaguar Land Rover’s vice president of marketing for North America. “So having them be able to see something firsthand -- it starts the education process.”Little InfluenceBut while Formula E is drawing crowds of urban dwellers and a substantial audience on social media, all that buzz may not necessarily translate into showroom traffic.“Auto racing really comes as one of the last influencers, in terms of influencing people to buy whatever car they’re looking at,” according to AutoPacific’s Kim. If Jaguar is doing well in Formula E, it couldn’t hurt the I-Pace, he said. “But I don’t think it would have a huge positive impact on awareness of the vehicle.”Jaguar has sold an average of about 190 I-Pace crossovers a month since U.S. sales began. Tesla, by comparison, was delivering Model Xs at a clip of about 550 a month in its first year on the market, beginning in 2015, according to InsideEVs.com estimates.The Audi e-tron has been on the market in the U.S. for only four months, but during that time, it has averaged sales of about 745 units, InsideEVs estimates. In July, 3.5% of Audi’s U.S. sales were all-electric, and the company expects that number to climb to 30% by 2025.“We are confident that we are and will continue to deliver an offering that customers will want to be part of,” Cian O’Brien, the interim president and chief operating officer of Audi of America, said in an email.$3,000 IncentiveAfter initial efforts to nab electric-car buyers proved challenging, Jaguar has decided to attack Tesla head-on.The brand is offering Tesla owners a $3,000 discount on the I-Pace for the next month and a half. “This is all about capturing share of voice,” Stuart Schorr, a Jaguar Land Rover spokesman, said in an email. “The EV market is just at its infancy.”Jaguar is confident that I-Pace sales will improve.“Consumers, as a result of seeing our race program, do consider us to be a car brand they would consider for their electric car purchase,” said Barclay, the racing director. “Rome wasn’t built in a day, and for a premium automotive manufacturer with their first electric vehicle, it takes time in the market.”To contact the reporter on this story: Colin Beresford in New York at email@example.comTo contact the editors responsible for this story: Craig Trudell at firstname.lastname@example.org, Melinda GrenierFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Tesla Inc. has another new plan to revive its foundering solar division: rentals.The Palo Alto, California-based company is now offering no-contract solar-panel packages as part of a relaunch announced in a series of tweets early Sunday by Chief Executive Officer Elon Musk.“With the new lower Tesla pricing, it’s like having a money printer on your roof,” Musk said in a tweet to prospective customers who live in states with high electricity costs. “Still better to buy, but the rental option makes the economics obvious.”The relaunch comes less than a month after Tesla reported its third consecutive quarterly decline in solar installations, and less than three years after it bought longtime rooftop king SolarCity Corp. for $2.6 billion. The automaker deployed just 29 megawatts in the second quarter -- its fewest yet in a single period. At its height, SolarCity installed more than 200 megawatts over three months.“It seems clear that Tesla is now trying to rebound their growth volumes having hit record lows by reverting back to a ‘no-money’ down type of model,” Michelle Davis, senior solar analyst at Wood Mackenzie Power & Renewables, said in a direct message on Twitter. “Tesla will need to prove they can manage their financials successfully this time around.”Since acquiring SolarCity, Tesla has made several strategic pivots that have contributed to an erosion in its market share. It ceased door-to-door marketing, ended a partnership with Home Depot Inc., cut jobs and opted to prioritize direct sales over the no-money-down lease that SolarCity popularized.Earlier this year, it shifted to offering standardized panel systems online, rather than the bespoke arrays that’s driven the rooftop-solar industry’s growth in the U.S.Tesla’s rental option can be had for a monthly payment that includes installation costs as well as support and maintenance, according to the company’s website. The contract can be canceled at any time, Tesla said, though there would be a $1,500 cost to remove the system.\--With assistance from Ellen Milligan.To contact the reporter on this story: Brian Eckhouse in New York at email@example.comTo contact the editors responsible for this story: Lynn Doan at firstname.lastname@example.org, Matthew G. Miller, Helen RobertsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Nio Inc. (NIO) has disrupted the automotive space since 2014 but only made waves in the market since its IPO. Investors have suffered numerous setbacks.
Car rental company Nextmove has walked away from a 5 million euros ($5.55 million) order for 85 Tesla Model 3 electric vehicles following a dispute over how to fix quality issues, the German company said on Friday. Nextmove said it had ordered 100 electric vehicles in 2018 but raised objections over quality and finish after taking delivery of the first 15 Model 3 cars earlier this year. Tesla said Nextmove chose not to take delivery of the cars.
(Bloomberg Opinion) -- Two years ago, 10 sailors died when the U.S. Navy’s guided missile destroyer USS John S. McCain collided with a chemical tanker off Singapore. An investigation has determined that insufficient training and inadequate operating procedures were to blame, and both factors were related to a new touch-screen-based helm control system. The Navy has decided to revert its destroyers back to entirely physical throttles and helm controls.It’s worth exploring the Navy’s rationale for installing touch-screens (“Just because you can doesn’t mean you should,” says Rear Admiral Bill Galinis), as well as its rationale for getting rid of them:Galinis said that bridge design is something that shipbuilders have a lot of say in, as it’s not covered by any particular specification that the Navy requires builders to follow. As a result of innovation and a desire to incorporate new technology, “we got away from the physical throttles, and that was probably the number-one feedback from the fleet – they said, just give us the throttles that we can use.”There are lessons here — including a prescient one from 50 years ago — for other, more mundane transport-control interfaces as well.Large, interactive touch-screens are becoming increasingly prevalent in passenger cars; in the case of Tesla, they’re the only control interface. They’re lovely to look at, but as the Navy’s experience suggests, they might be more confusing than physical controls. That confusion isn’t academic, either: Distracted driving is an increasingly dangerous problem. According to the National Highway Traffic Safety Administration, 10% of all fatal crashes from 2012 to 2017 involved distracted drivers. Mobile phones are a major cause of distraction, as we’d expect, but they’re an even bigger problem for younger drivers.Almost 50 years ago, robotics professor Masahiro Mori wrote an extraordinary essay, “The Uncanny Valley,” on people’s reactions to robots as they became more and more humanlike. As Mori said, our affinity for robots rises as they more closely resemble humans. That affinity plunges, becoming negative and finally rising again once a robot reaches the (possibly unattainable) full likeness of a human being.Something similar is at work in our current touch-screen-filled vehicles. To an extent, adding more screen real estate give us more information, and with it more safety — until it begins to provide an overwhelming amount of information and an overly complex set of choices for visual navigation. And moving from one information-rich interface to another is increasingly difficult, as another Navy rear admiral said in reviewing the John S. McCain collision:When you look at a screen, where do you find heading? Is it in the same place, or do you have to hunt every time you go to a different screen? So the more commonality we can drive into these kind of human-machine interfaces, the better it is for the operator to quickly pick up what the situational awareness is, whatever aspect he’s looking at, whether it’s helm control, radar pictures, whatever. So we’re trying to drive that.There are two ways our in-car screens could evolve. The first is that, for safety’s sake, they’ll move back down the curve, so to speak, and be less ambiguous and more full of knobs and dials and physical throttles. That’s the Navy’s new approach. The second, though, is that we won’t go back, at least in passenger applications, to a more tactile interface of specific controls. We’re probably going to get more screens, with more information. Maybe the only way out of this valley is to shift the interface completely to voice or, in the very long run, to obviate the issue by having cars drive themselves. That could be how we navigate this uncanny valley of vehicle interfaces — the removal of any need to control the vehicle at all, and the chance to fill our cars’ screens with pure entertainment. Weekend readingA greener energy industry is testing investors’ ability to adapt. One coal CEO says “make money while you can” in an industry that is in terminal decline. The venture capital arm of Royal Dutch Shell Plc has invested in Corvus Energy, a maritime and offshore battery systems company. America’s obsession with beef is killing leather. A look at how Phoenix comes alive at night, and how other cities might too in a hotter world. An exploration of how extreme climate change has arrived in America. The Anthropocene is a joke. On a geological time scale, human civilization is an event, not an epoch. Three years of misery inside Google, the happiest company in tech. Here’s what happens when Apple Inc. locks you out of its walled garden after fraud suspicions. Machine vision can spot unknown links between classic artworks. When Midwest startups sell, their hometown schools often lose. A programmer in California got a “NULL” vanity license plate in the hopes that the word would not compute in a database of traffic offenders. Instead, he was fined $12,049. Robert Ballard, discoverer of the Titanic, is exploring a startling clue that may help him find Amelia Earhart’s plane. Bugatti’s one-off La Voiture Noire debuted at the Pebble Beach Concours D’Elegance. It’s already been sold, for $18.68 million. Bloomberg Businessweek’s Peter Coy looks back on the 40 years since the magazine declared “ the death of equities.” Get Sparklines delivered to your inbox. Sign up here. And subscribe to Bloomberg All Access and get much, much more. You’ll receive our unmatched global news coverage and two in-depth daily newsletters, the Bloomberg Open and the Bloomberg Close.To contact the author of this story: Nathaniel Bullard at email@example.comTo contact the editor responsible for this story: Brooke Sample at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nathaniel Bullard is a BloombergNEF energy analyst, covering technology and business model innovation and system-wide resource transitions.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
According to YouTube’s most noted auto reviewers, Tesla’s Model 3 is the “best electric car” available today. Tesla produces 5,000 Model 3 units per week.
(Bloomberg) -- Stefan Moeller began this year with an ambitious target: to make his car-rental company Nextmove the biggest Tesla Inc. customer in Germany by adding 100 Model 3s to its fleet. He likened the electric car’s arrival on Europe’s shores to a tsunami washing over a region that’s been slow to embrace battery-powered autos.But the powerful wave Moeller expected has collapsed to a trickle. After weeks of back and forth over unfulfilled repair work and quality issues involving the initial 15 sedans that Tesla delivered -- from scratched bumpers to moisture trapped behind the headlights -- the order of the remaining 85 Model 3s was called off. Tesla also tried to deliver cars that had been previously registered, which would have locked Nextmove out of Germany’s electric-car incentive program and potential tax refunds, Moeller said.“The Model 3 is a fantastic car. Some of our customers totally fell in love with it,” said Moeller, whose Leipzig-based company has more than 300 electric vehicles in its fleet, including 38 Model S and a dozen Model X. “But the organization behind it doesn’t match that. It’s really sobering.”Subpar service could be a barrier to Tesla making more of an impact in Germany, where exacting car owners value how painstakingly their BMWs and Mercedes are cared for just as much as the speed of the Autobahn. Chief Executive Officer Elon Musk, who’s famously inimical to Twitter critiques, acknowledged earlier this year that a lack of service centers in Germany was hampering the company’s growth there.Tesla believes Nextmove’s decision to cancel its remaining Model 3 order wasn’t entirely due to quality issues, and was largely influenced by frustration with an unrelated dispute earlier in the year, according to a spokesperson. The carmaker was in the process of making repairs and had provided loaner vehicles to the customer at the time the order was canceled. (Nextmove insists it was Tesla that canceled the order, after the rental-car company demanded an improved process for handovers and fixes.)The Tesla spokesperson blamed the registration issue that Nextmove described on a temporary issue with matching identification numbers to vehicles and said the issue was resolved for impacted customers.Norway WoesPoor service is an issue that’s already plagued Tesla in Norway, Europe’s largest electric-car market per capita. Dented and sloppily painted vehicles have fueled the highest level of complaints per unit among all automakers, according to the nation’s consumer watchdog.In Europe, Tesla is racing against time as more established players wake up to the electric future. The continent is projected to be the world’s second-largest driver of electric cars in the next decade, trailing only China. Customers can already choose between a growing number of battery-powered models from the likes of Mercedes-Benz, Jaguar and Audi.Moeller says Tesla’s issues extend beyond the Model 3. He spent two years waiting for the carmaker to replace a seat in a Model X that was delivered in July 2017 with a hole in it. A Model 3 arrived more recently with a protruding bulge on one tire. Moeller shared with Bloomberg News his email correspondence with Tesla and photos of the blemished vehicles.The Tesla spokesperson said the company’s data doesn’t indicate any unusual vehicle quality issues specific to Germany or anywhere else in the world. The company said there’s a small chance cars are blemished during transport to customers and that it addresses those issues quickly.‘Seriously Worrying’Nextmove isn’t an isolated case. German social-media platforms and online forums are abuzz with customers airing complaints about faulty parts from sensors to suspensions. Many also describe Tesla’s sales organization in the country as unresponsive.“I’m still thrilled by the car, because it’s just so much better than anything I’ve driven before, but the quality of the service and some technical parts are seriously worrying,” Rouven Volk, who said by email that he ordered his Model 3 in February and was slated to take delivery less than a month later.Volk chronicled an odyssey with Tesla that began with a car that couldn’t be handed over because of a defective main display. The company opted to source another Model 3 from its European pool and set a new handover date for a month later. Then, the car had stains on the outside and in the interior, and a cable dangled from where there should have been a light for the back seats. The charging cables and winter tires he ordered were nowhere to be found.The Tesla spokesperson said unhappy customers can return their cars for a full refund up to seven days after purchase. The company’s data shows German customers have largely been satisfied with their vehicles, including the quality and condition of cars upon delivery.“Generally, early-adopter customers forgive unconventional newcomers like Tesla a lot of things,” said Stefan Bratzel, a researcher at the Center of Automotive Management near Cologne. “But the more Tesla enters broader customer segments, the more distribution and service have to function.”Climbing the ChartsSales of the Model 3, Tesla’s most affordable model, helped make the brand the fastest-growing in Germany in the first seven months of the year, according to data from industry watchdog KBA. While 6,816 registrations is still well behind market leaders, Tesla outsold brands including Jaguar and Alfa Romeo.Tesla is in the process of doubling the number of service centers in Germany to 17 locations, with a focus largely on urban areas including Berlin, Hamburg and Munich, according to the company’s website. The carmaker is also branching out into mid-size cities such as Kiel, Ulm and Mannheim, and separately lists 16 retail stores in the country.The brick-and-mortar presence is still a far cry from the sprawling infrastructure that established carmakers have built in Germany over decades. Volkswagen AG, the top-selling automaker in the country, has hundreds of dedicated sales and repair outlets.Then again, Musk is betting the looming shift toward electric cars and digital services will upend the retail and after-sale business. Battery-powered autos have fewer components that are at risk of breaking down. Tesla also plans to expand its fleet of mobile service vehicles by 50% and increase mobile service coverage by fivefold this year in Europe, according to the spokesperson.Rust, ScratchesFor Volk, rust started showing between the front fender and the driver’s door of his Model 3 after about 100 days and 15,000 kilometers, which he attributes to friction of sheet metal that wasn’t properly sloped. Getting a hold of Tesla service personnel has been challenging because some employees familiar with his case have left the company, Volk said.Malte Ahl said in an email he withdrew the purchase contract for his Model 3 in March after Tesla didn’t respond to his concerns about glitches including poor paint quality, scratches on the passenger seat and dysfunctional switches.“I view this way of dealing with the most loyal Tesla fans as unfair and not sustainable,” he wrote in an attached letter addressed to the company’s German unit.(Updates with further Nextmove comment in fifth paragraph.)To contact the reporter on this story: Christoph Rauwald in Frankfurt at email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, Benedikt Kammel, Craig TrudellFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tesla (TSLA) has officially launched its Model 3 in South Korea, where it is attracting significant interest from prospective buyers.
California Highway Patrol officials saw a Tesla semi truck. They were impressed with the credentials. The CHP posted comments on its Facebook page.
Chinese electric car maker NIO delivered 837 cars in July, down from 1,340 cars in June. Tesla’s delivery growth range was 110%–221% in the last year.
Tesla owners in the U.S. and Canada may finally get that free Spotify Premium integration they've been requesting. Tesla CEO Elon Musk tweeted late Wednesday night that Spotify premium integration is "coming." Musk, who has talked about bringing Spotify to owners in North America before, did not provide a timeline. In other words, the music streaming service could be integrated next week or six months from now.