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GoSouthYoungins

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Re: Tesla glory/failure
« Reply #1650 on: March 07, 2019, 07:09:30 PM »
Drastic price cuts.
Elimination of entire department.
Tons of layoffs.
Closing all stores.
Postponing bond repayment.

Tesla is doing everything a company typically does during bankruptcy. Are they unaware that all of these things work out far more in their favor if they actually have chapter 11 protections?!? Every passing day, Chapter 7 becomes more of a certainty.
big time oops

gerontocrat

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Re: Tesla glory/failure
« Reply #1651 on: March 07, 2019, 08:31:57 PM »
Tesla's hand smacked by Germany - tut tut.

Perhaps of greater note is Germany looking for EV blast-off from 2020 ?
Biggest market in Europe?

https://europe.autonews.com/automakers/tesla-will-drop-misleading-marketing-germany-touting-model-3
Quote
BERLIN -- Tesla agreed to change the way it advertises the Model 3 sedan in Germany by getting rid of fuel-savings claims that a fair-competition watchdog said are misleading.

Tesla has been promoting the four-wheel-drive version of the car on its German-language website with claims that buyers can get 5,000 euros ($5,654) in savings over five years off the car's price tag of 56,380 euros.

Tesla has agreed to drop references to prices "after estimated savings" as of March 20, said Wettbewerbszentrale, a Munich-based watchdog.

The offending bits of language are "arbitrary, lack transparency and infringe rules on actual and clear pricing" practices, according to the organization, which is a self-regulatory body with 1,200-member companies that agree to uphold voluntary fair-competition rules.

New registrations of Teslas in Germany were just 1092 last month, according to the Federal Motor Transport Authority. The company is looking to significantly increase deliveries in Europe by beginning shipments of the Model 3 this quarter.

Germany offers subsidies to electric-car buyers, and Chancellor Angela Merkel is counting on a rapid uptake of low-emission vehicles from the start of the next decade.
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oren

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Re: Tesla glory/failure
« Reply #1652 on: March 07, 2019, 10:26:14 PM »
Quote
The offending bits of language are "arbitrary, lack transparency and infringe rules on actual and clear pricing" practices
I wholeheartedly agree. They should remove that from the website and be done with it.

Archimid

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Re: Tesla glory/failure
« Reply #1653 on: March 07, 2019, 10:28:17 PM »
yep, they should.
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Archimid

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Re: Tesla glory/failure
« Reply #1654 on: March 08, 2019, 03:10:42 PM »
Tesla Secures More Than $500 Million For Gigafactory 3

https://insideevs.com/tesla-500-million-gigafactory-3/

Quote
According to the latest news, Tesla just secured financing for the Gigafactory 3 in Shanghai from Chinese banks. The bank loans are reportedly for $521 million.

The loans come from four banks and will mature in March 2020.

China Construction Bank Corp.
Agricultural Bank of China Ltd.
Industrial & Commercial Bank of China Ltd.
Shanghai Pudong Development Bank Co.

According to Bloomberg, “Tesla also amended a separate asset-backed credit agreement, increasing how much it can borrow by as much as $700 million.".
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NeilT

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Re: Tesla glory/failure
« Reply #1655 on: March 08, 2019, 07:19:26 PM »
If the USA was sane, logical and ethical like the Germans they never would have done this in the first place.

No they would have just lied, cheated and created an emissions test cheating piece of software which killed thousands of people around the world.

Very sane, very logical and totally and completely UN ethical.
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NeilT

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Re: Tesla glory/failure
« Reply #1656 on: March 08, 2019, 07:22:39 PM »
I don't have a lot of time for Caveat Emptor, but I'm also wary of regulators who try to remove the requirement of a brain from the customer.

I like customers to have a brain and to use it.  The EU likes vendors to do what they are told and customers to take it on "trust" that everything is as it should be.  Like passing emissions tests.  The EU does not like, or want, customers to have a brain.

The two are, sometimes, rather hard to reconcile.
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Neven

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Re: Tesla glory/failure
« Reply #1657 on: March 08, 2019, 08:00:12 PM »
Back on-topic, please.
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1658 on: March 08, 2019, 09:42:57 PM »
Quote
The offending bits of language are "arbitrary, lack transparency and infringe rules on actual and clear pricing" practices
I wholeheartedly agree. They should remove that from the website and be done with it.

Yes, the emphasis on “with savings” prices on the website order pages was a sore point, even with Tesla fans.  Tesla did have a rather nice interactive individual-savings-calculator page, but it has been taken down.  Here’s hoping they are re-working the pages to combine user data with Tesla price as supplemental information.
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1659 on: March 08, 2019, 09:51:05 PM »
The new Polestar EV brand will not use stores.
Quote
It’s time to change the narrative, to move forward into a fully electric future. Polestar has set an industry benchmark for car buyers with its modern subscription-based model, which replaces the outdated ownership models of the past. This all-inclusive, no deposit, flat monthly subscription payment addresses the current ownership dilemmas and inconveniences by eliminating issues like the unexpected costs of depreciation, insurance, service, and maintenance.

In another move to revolutionize the process of purchasing a car, the brand has said goodbye to salespeople and hello to product experts. At Polestar Spaces, conveniently located showrooms in downtown areas, staff provide customers with the tools and knowledge they’ll need to then go online and purchase a Polestar electric car.
https://www.theatlantic.com/sponsored/polestar-2019/all-electric-all-different/3040/


“Amazon surely going bankrupt after closing all of its retail locations. How will they even sell anything anymore?”
https://twitter.com/_jameshatfield_/status/1103389280074956800
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1660 on: March 08, 2019, 10:08:46 PM »
Tesla Secures More Than $500 Million For Gigafactory 3

https://insideevs.com/tesla-500-million-gigafactory-3/

Quote
According to the latest news, Tesla just secured financing for the Gigafactory 3 in Shanghai from Chinese banks. The bank loans are reportedly for $521 million.

The loans come from four banks and will mature in March 2020.

China Construction Bank Corp.
Agricultural Bank of China Ltd.
Industrial & Commercial Bank of China Ltd.
Shanghai Pudong Development Bank Co.

According to Bloomberg, “Tesla also amended a separate asset-backed credit agreement, increasing how much it can borrow by as much as $700 million.".

Here’s the 8-k filing:  https://www.sec.gov/Archives/edgar/data/1318605/000156459019006788/tsla-8k_20190301.htm

Note that it is "non-recourse to Tesla or its assets” — meaning Tesla’s assets other than Giga3 are untouchable even if the loan defaults — and yet it still grants an interest rate lower than what the Chinese central bank charges its most creditworthy banks.
This is overwhelming evidence the Chinese government is fully committed to partnering with Tesla to make Tesla production in Shanghai a reality.
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zizek

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Re: Tesla glory/failure
« Reply #1661 on: March 08, 2019, 11:52:29 PM »
Foreign state owned bank, known for its aggressive acquisitions in foreign markets as a tool for economic dominance, offers very attractive lending rates to company who can barely pay its domestic vendors.
Definitely a sign of good faith between China and tesla, definetely not crows circling

GoSouthYoungins

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Re: Tesla glory/failure
« Reply #1662 on: March 09, 2019, 01:46:19 AM »
The bank loans are reportedly for $521 million.

The loans come from four banks and will mature in March 2020.

The loan is due in less than a year, lol. Build a factory from a mud field, bring in equipment, get an auto assembly line operating, make enough cars at enough margin to pay back half a billion, ALL IN LESS THAN A YEAR. Even the stupidest of bull should understand that this is impossible. It is like a person trying to run a 1 minute mile... if you have no concept of what you are talking about, the practicalities of the endeavor seem reasonable, but anyone with any experience just laughs.

According to Bloomberg, “Tesla also amended a separate asset-backed credit agreement, increasing how much it can borrow by as much as $700 million.".
[/quote]

Tesla can't even make payroll. The only money the can raise is by collateralizing the last widgets lying around.

Chapter 11 has become impossible because every Tesla asset is promised to someone. I'm trying to think up ways to profit off a Chapter 7 prediction, but have been unable to think of any. Ideas?Bulls need not respond.
big time oops

GoSouthYoungins

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Re: Tesla glory/failure
« Reply #1663 on: March 09, 2019, 01:48:56 AM »
What is happening with the Giga3 is pretty straightforward. The chinese get a factory, partially paid for by Tesla. Tesla gets to pretend it has a growth story.

In 1 year, Tesla will own 0% of the mud field. And Tesla will be seen as a mix of Enron, Theranos, and DeLorean.
big time oops

Archimid

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Re: Tesla glory/failure
« Reply #1664 on: March 09, 2019, 12:24:47 PM »
Fast charging EVs compared:

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Sigmetnow

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Re: Tesla glory/failure
« Reply #1665 on: March 09, 2019, 07:08:28 PM »
Tesla bear thesis:  Tesla and EVs are just a fad for today’s rich people.  In a couple years, it will be over and nobody will even remember them, let alone want to buy one.

Quote
Steve Jerbs (@tesla_truth) 3/8/19, 10:11 PM
Ever since my brother started thinking about getting a Model 3, his 9 year old son has been on the Tesla website and order page every night ;D
When Dad said the Tesla might be too expensive, the kid started crying until he caved
We’re putting the order in for a LEMUR [mid-range Model 3] tomorrow ;D
https://twitter.com/tesla_truth/status/1104218001010638848
< When I rented a Model S lots of people did double takes but driving through a quiet village we approached a roundabout where there were 3 kids on bikes waiting to cross the road.  One of them pointed right at us and shouted “TESLA”!!!
Made my 11 year old son’s day : )

“I don’t think people understand the Tesla brand amongst kids. All the kids in my kids school are obsessed with Tesla.” #CoolestDadEver
https://twitter.com/mikedog77/status/1104243957192683520

Quote
J. Carroll Clark (@sazeracked) 3/8/19, 7:23 PM
 To-day I had an opportunity to ask six economics majors what they visualized driving in five years. All six said either Teslas or something similar. Nobody went for ICE cars.
https://twitter.com/sazeracked/status/1104175837283119104

    And Tesla hasn’t even started advertising, yet!

Quote
Justin Guay (@Guay_JG) 3/7/19, 4:40 PM
That’s Indian Prime Minister Modi banging out his applause after ‘This India will drive on electric vehicles’
https://twitter.com/guay_jg/status/1103772339232137216
Video at the link.

How long before safety agencies begin to down-rate ICE, and give EVs bonus safety points for this aspect of ownership?
Cat Wakes Up Owners Just Before Carbon Monoxide Poisoning Claims All Their Lives
https://coleandmarmalade.com/2019/03/07/cat-wakes-up-owners-just-before-carbon-monoxide-poisoning-claims-all-their-lives/

Quote
Alex (@alex_avoigt) 3/9/19, 5:41 AM
Since I placed the order for my 3 in Dec, delivery scheduled in a few weeks:
- it has been upgraded for free with FSD
- got a free of charge longer range & higher top speed
- charges faster with 75miles (120km) peak in just 5 min
It feels so good even before being a customer...
https://twitter.com/alex_avoigt/status/1104331275014410240

Quote
Steve Jerbs (@tesla_truth) 3/8/19, 6:36 PM
Many people don't realize how well AutoPilot works on city streets.
Here's AutoPilot doing a 20 minute drive to my office, completely on it's own. Only had to take control at the beginning and end of the drive.
https://twitter.com/tesla_truth/status/1104163893268557825
Time lapse video at the link.

Tesla hides a joke for those brightening the latest published shadowy image of the Model Y trying to find more details before the big reveal on Thursday. ;D
https://twitter.com/wasty_1o/status/1104377911979601921
Image below; Gif at the link.
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1666 on: March 09, 2019, 08:28:32 PM »
Quote
The loan is due in less than a year, lol. Build a factory from a mud field, bring in equipment, get an auto assembly line operating, make enough cars at enough margin to pay back half a billion, ALL IN LESS THAN A YEAR....

Credit.  Such a wonderful thing.
Quote
Amendment and Restatement of ABL Credit Agreement
 
On March 6, 2019, Tesla, Inc. (“Tesla”) and its subsidiary Tesla Motors Netherlands B.V. (together with Tesla, the “Borrowers”), entered into the Amendment and Restatement Agreement (the “Amendment and Restatement Agreement”) with Deutsche Bank AG New York Branch, as administrative agent and collateral agent, and the lenders and other agents party thereto, pursuant to which the ABL Credit Agreement dated as of June 10, 2015 (as amended and restated, the “ABL Credit Agreement”) was amended and restated in its entirety. Among other things, the Amendment and Restatement Agreement amended the ABL Credit Agreement to increase the revolving commitments by $500.0 million to a total of $2.425 billion, to extend the maturity date from June 10, 2020 to July 1, 2023 as to approximately $2.228 billion of the total revolving commitments, to increase the letter of credit subfacility from $200.0 million to $400.0 million, and to amend certain covenants and baskets. As amended, the ABL Credit Agreement also permits the Borrowers, subject to the terms and conditions set forth therein, to obtain up to $200.0 million of additional revolving commitments and an extension of the remaining commitments maturing on June 10, 2020 to July 1, 2023.
https://www.sec.gov/Archives/edgar/data/1318605/000156459019006788/tsla-8k_20190301.htm

Edit:
These arrangements are yet another nail in the Tesla Bear coffin.  Financial institutions with millions and even billions of dollars at stake have done their due diligence, agree Tesla is set for success, and they are eager to be a part of it.  The bear argument simply does not fit reality.
« Last Edit: March 09, 2019, 10:36:08 PM by Sigmetnow »
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1667 on: March 10, 2019, 09:47:07 PM »
Tesla Is Following A Timeline Laid Out Many Months Ago, Yet Critics Are Acting Surprised
https://cleantechnica.com/2019/03/10/tesla-is-following-a-timeline-laid-out-many-months-ago-yet-critics-are-acting-surprised/

Amazon Proved Online Retail Prowess, Tesla Destined To Do The Same
- 82 percent of customers bought their Model 3 without ever having taken a test drive.
- Bloomberg predicts that Tesla’s move to online sales “will turn out to be prescient… [as] 78 percent of all Model 3 sales were already online last year. And millennials — one of the key targets for the Model 3 — have highly favorable views of the Tesla brand and are keen to buy products over the internet.”
- car salespeople remain “one of the least trusted professions in America today.” The only group of professionals less trusted than car salespeople are Members of Congress
https://insideevs.com/tesla-amazon-of-car-sales/
Poll results below.

“Just gave a neighbor a walkthrough of the Model 3, as she had questions after Tesla store test drive - her feedback: you know so much more than the person that gave the test drive ... maybe @elonmusk knows what he’s doing!”
https://twitter.com/hot_rod_co/status/1104789939835887616

—-
Tesla pushes delivery timeline for new standard Model 3 orders as demand soars
https://electrek.co/2019/03/09/tesla-model-3-delivery-push-demand-soars/

Tesla Model 3 = Best Selling Electric Car In Germany
https://cleantechnica.com/2019/03/09/tesla-model-3-best-selling-electric-car-in-germany/
Chart below.

Quote
Morten Lund (@mortenlund89) 3/10/19, 11:56 AM
#AsianKing has departed San Francisco.
ETA Shanghai: 24th of March
https://twitter.com/mortenlund89/status/1104773001285902348
——
Quote
Greg Wester (@gwestr) 3/10/19, 3:11 PM
Tesla destination charging is life altering. Imagine if everywhere you travel to gave you 16 free gallons of gasoline?
https://twitter.com/gwestr/status/1104822075812765696
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GoSouthYoungins

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Re: Tesla glory/failure
« Reply #1668 on: March 11, 2019, 03:11:42 AM »
These arrangements are yet another nail in the Tesla Bear coffin.  Financial institutions with millions and even billions of dollars at stake have done their due diligence, agree Tesla is set for success, and they are eager to be a part of it.  The bear argument simply does not fit reality.

<snip; N.> What you are referencing is asset backed loans. When Tesla can no longer feign solvency, every "asset" the company "owns" will be seized because they are all spoken for.

It has been years since any institution has made an unsecured loan to Tesla. And Tesla is out of assets to pledge, so they can't raise any capital. Which is why they haven't raised despite needing $20 BILLION in the next 3 years to complete announced projects.

But hey, if you think it is a nail in the bear coffin, enjoy it while it lasts.
« Last Edit: March 11, 2019, 09:32:10 AM by Neven »
big time oops

NeilT

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Re: Tesla glory/failure
« Reply #1669 on: March 11, 2019, 11:24:57 AM »
In 1 year, Tesla will own 0% of the mud field. And Tesla will be seen as a mix of Enron, Theranos, and DeLorean.

GSY, given the prowess of your predictive abilities, re Tesla and the fact that you predicted they would go bust by Jan 2019, whereas Tesla actually increased profit, paid back more than $1bn in loans (to date) and continued to go from strength to strength, I'll take that statement with a truckload of salt.

As was already posted, Tesla has no really large outstanding debt until 2020.  In that time they have ample scope to continue to increase revenue and profits and also to pay back the loan for the Gigafactory 3.

At which time Tesla will have fully paid for a fully operational factory in the largest growing EV market in the world.  All funded out of profits and cash flow.

I wish I could do business that badly, I'd retire in 2 years!
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crandles

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Re: Tesla glory/failure
« Reply #1670 on: March 11, 2019, 12:48:26 PM »
Quote
It will now close "about half as many" stores - making half the cost savings.

The carmaker, founded by Elon Musk, said that keeping more stores open would require a rise in vehicle prices by about 3% on average worldwide.

https://www.bbc.co.uk/news/business-47521940

Does this sound full of

a) they can't make up their minds

b) realise they will never make $35000 model 3 but to just give impression of having achieved long stated goal, they cut price to that for a few days then announce price rises.

c) both of above

d) bit of a gimmick to claim $35000 was achieved, but 3% price rise (to $36000?) is not unreasonable given how long the target has been $35,000. and/or It is not like saying we can't get near it and lowest price is going to be $45,000.

e) something else
?

BeeKnees

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Re: Tesla glory/failure
« Reply #1671 on: March 11, 2019, 01:36:50 PM »
Sounds like a dose of reality.

Closing stores with existing leases and laying off staff isn't cheap.
The store closures were always going to affect sales of the high end market, where the customer expects more direct sales contact.
The cuts of higher price cars has gone down badly with existing owners and so this softens the effect.

All in all, this is what should've been announced originally, rather than overhyping the online sales and making the market nervous.


oren

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Re: Tesla glory/failure
« Reply #1672 on: March 11, 2019, 05:27:50 PM »
Quote
It will now close "about half as many" stores - making half the cost savings.

The carmaker, founded by Elon Musk, said that keeping more stores open would require a rise in vehicle prices by about 3% on average worldwide.

https://www.bbc.co.uk/news/business-47521940

Does this sound full of

a) they can't make up their minds

b) realise they will never make $35000 model 3 but to just give impression of having achieved long stated goal, they cut price to that for a few days then announce price rises.

c) both of above

d) bit of a gimmick to claim $35000 was achieved, but 3% price rise (to $36000?) is not unreasonable given how long the target has been $35,000. and/or It is not like saying we can't get near it and lowest price is going to be $45,000.

e) something else
?
They made a quick/rash decision (Musk-style) and are now dialing it back. So it's "a".
The $35k version is not getting a price rise, so "b"/"d" is untrue.
There may also be a twist here of "order now or regret later" (see below). But really the original decision seems to have been too drastic, both on the stores issue and on the price reductions issue.

https://www.tesla.com/blog/update-tesla-stores-and-pricing
Quote
As a result of keeping significantly more stores open, Tesla will need to raise vehicle prices by about 3% on average worldwide. In other words, we will only close about half as many stores, but the cost savings are therefore only about half.

Potential Tesla owners will have a week to place their order before prices rise, so current prices are valid until March 18th. There will be no price increase to the $35,000 Model 3. The price increases will only apply to the more expensive variants of Model 3, as well as Model S and X.

Sigmetnow

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Re: Tesla glory/failure
« Reply #1673 on: March 11, 2019, 07:15:54 PM »
Quote
As a result of keeping significantly more stores open, Tesla will need to raise vehicle prices by about 3% on average worldwide. In other words, we will only close about half as many stores, but the cost savings are therefore only about half.

Potential Tesla owners will have a week to place their order before prices rise, so current prices are valid until March 18th. There will be no price increase to the $35,000 Model 3. The price increases will only apply to the more expensive variants of Model 3, as well as Model S and X.

So, Tesla drives a week of increased sales before the end of Q1. Shocking.
Have they decreased prices before?  You bet:  right before announcing increased prices for refreshed/improved versions of the Model S/X.  Said refreshes being long overdue at this point.  Plus, a big reveal (or two?) happens this Thursday....

Inexperience?  Or, 4-D chess?  Time will tell. 
But the “closing stores and slashing prices mean bankruptcy is definitely imminent” crowd will need to come up with new reasoning. Again.
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1674 on: March 11, 2019, 07:26:03 PM »
The World Inside Tesla Is Completely Different From The Media’s Portrayal Of Tesla
https://cleantechnica.com/2019/03/10/the-world-inside-tesla-is-completely-different-from-the-medias-portrayal-of-tesla/
Elon Musk responded:  “True”

Tesla Model 3 Quickly Rises To #1 In The Netherlands
Quote
One of the question marks around the Model 3 in Europe regards the impact it’s going to have on this side of the Atlantic. Will it disrupt the PEV and ICE sedan market in the same way that it is doing in the US, or will it be more subdued, because it is playing away from home?

The answer is now starting to be written. Comparing the Tesla Model 3 deliveries in the vehicle’s first month on the market against its midsize premium competitors, we can see that it has managed to outrun them all. Meanwhile, Audi A4 and BMW 3 Series registrations are down some 50%, but Mercedes sales are actually up, which could mean that BMW and Audi buyers are defecting to Tesla in much larger numbers than Mercedes loyalists.
https://cleantechnica.com/2019/03/10/tesla-model-3-quickly-rises-to-1-in-the-netherlands-cleantechnica-ev-sales-report/
Image of TM3/ICE list below.

To recap we have now Norway, Netherlands, Germany where the Model 3 is already top of the list in each country and in France #2….
https://twitter.com/alex_avoigt/status/1104677779000438784

CANADA:  Winter weather cools February sales by 2% - large losses Audi/BMW/Mercedes and gains Tesla
 https://canada.autonews.com/retail/winter-weather-cools-february-sales-2

Before anyone suggests “Backlog!” a reminder:  that same thing was said about sales after the launch of the Model S.  And the Model X.  But Tesla sells even more of those now, compared to back then.  And as of last fall in the U.S., 75% of all sales were from new orders, not reservation holders.
No other company is anywhere near a profitable high-volume $35k EV, and by the time they are, Tesla will be able to make a profitable $25k EV.  All that “cash burn” wasn‘t wasted money, it was investment in unbeatable R&D.

"The complexity of solving this problem is like a manned mission to Mars," Sedran said of the development of completely driverless vehicles.
VW says driverless vehicles have limited appeal and high cost
Quote
GENEVA, March 5 (Reuters) - Fully autonomous vehicles will take at least another five years to perfect, with the cost and complexity of rolling out the technology globally serving to undermine the business case, Volkswagen's head of commercial vehicles said.

Autonomous cars require high-tech infrastructure, hugely expensive lidar and radar systems, as well as pricey deals with cloud computing and mapping providers, VW's Thomas Sedran told Reuters on the sidelines of the Geneva motor show.

"It will take another five years to develop the technology to achieve higher levels of autonomy. Can you see a business case which justifies these overheads for this period of time? It's just too expensive," Sedran said.

"Who is going to keep up that kind of spending for five years without a clear business case," he said.
https://mobile.reuters.com/article/amp/idUSL5N20S64F

———
Tesla is buying car-hauling trucks and trailers using $13 million in TSLA shares
https://electrek.co/2019/03/11/tesla-buying-trucks-trailers-tsla-shares/

Vincent (@vincent13031925) 3/10/19, 2:48 PM
Geeze, now Tesla is hiding all the “overstock” vehicles in my local Costco parking lot!! #DemandProblem
Reality: Many happy Tesla owners in my area…, gonna see way lot more when Model Y is ready.
https://twitter.com/vincent13031925/status/1104816297827655680
Parking lot photos at the link. ;)
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GoSouthYoungins

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Re: Tesla glory/failure
« Reply #1675 on: March 11, 2019, 07:38:55 PM »
In 1 year, Tesla will own 0% of the mud field. And Tesla will be seen as a mix of Enron, Theranos, and DeLorean.
All funded out of profits and cash flow.

Pure fantasy. They squeaked out 2 theoretically profitable quarters by front-loading the cultists. Since they, they have had 2 rounds of layoffs AND 3 rounds of price cuts. It is now common knowledge that Q1 will not be profitable.

Please explain why you think they have more profits upcoming? And not just some vague nonsense like "they have the Agile ability to dramatically increase the the scope of operations which are already ample".

Please explain if/why you believe Tesla is about to build a factory 5-10 times faster than normal.
big time oops

Sigmetnow

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Re: Tesla glory/failure
« Reply #1676 on: March 11, 2019, 09:01:11 PM »
Elon’s email: some stores don’t pass the Sherlock Holmes test: people can’t find them!
Quote
From: Elon Musk
To: Everybody
March 10, 2019
We are making an adjustment to our plans and will, at least for the next several months, retain more stores than previously announced. For the most part, the roughly 10% of Tesla sales locations we closed recently don't pass the Sherlock Holmes test. Meaning, most of these stores are in such difficult or obscure locations, only Sherlock Holmes could find them! Even if selling through stores were our only means of sales, we would still have closed them down. A few stores in high visibility locations that were closed due to low apparent demand generation will be reopened, but with a smaller Tesla crew.
There are another 20% of locations that are under review. Depending on their effectiveness over the next few months, some will be closed and some will remain open.
As a result of keeping significantly more stores open, Tesla will need to raise vehicle prices by about 3% or so on average worldwide. All things considered, this seems like a reasonable compromise between current and future customers. We will only close about half as many stores, but the cost savings are therefore only about half.
Potential Tesla owners will have a week to place their orders before prices rise, so current prices are valid until March 18th. Note, there will be no price increase to the $35,000 Model 3. The price increases will only apply to the more expensive variants of Model 3, as well as Model S and X.
To be clear, all sales worldwide will still be done online, in that potential Tesla owners coming in to stores will simply be shown how to order a Tesla on their phone in a few minutes. And the generous return policy of 1000 miles or 7 days, whichever comes first, should alleviate the need for most test drives at stores at the potential Tesla owner's request. Stores will also carry a small number of cars in inventory for customers who wish to drive away with a Tesla immediately.
Thanks,
Elon
https://www.cnbc.com/2019/03/11/read-elon-musk-memo-to-tesla-employees-on-shifting-sales-strategy.html
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1677 on: March 11, 2019, 09:53:15 PM »
These arrangements are yet another nail in the Tesla Bear coffin.  Financial institutions with millions and even billions of dollars at stake have done their due diligence, agree Tesla is set for success, and they are eager to be a part of it.  The bear argument simply does not fit reality.

It has been years since any institution has made an unsecured loan to Tesla.

This time next year, China will have a Tesla factory, and production lines making 3,000 a week of the Number 1 selling car on the planet — and they’ll be collecting taxes on each one of them — and tariffs on the ones exported to APAC countries.  While preventing further ICE sales from clogging their air, and forcing the other automakers to up their game.  More than enough dividends for a cheap loan which is certain to be repaid.

Edit:  if China had any doubts about the loan, they would have demanded a higher interest rate.  The fact that Tesla obtained a rate below what even the best banks pay is a reflection of the low risk China judges the transaction to have.
« Last Edit: March 11, 2019, 10:14:02 PM by Sigmetnow »
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GoSouthYoungins

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Re: Tesla glory/failure
« Reply #1678 on: March 12, 2019, 02:11:37 AM »

It has been years since any institution has made an unsecured loan to Tesla.


...if China had any doubts about the loan, they would have demanded a higher interest rate.

<snip; N.> What you are saying here is 100% incorrect. THE MAIN WAY TO PROTECT A LOAN IS VIA COLLATERAL, not the interest rate you are charging. The interest rate only matters IF the loan IS getting paid back. 

Pointing to an asset backed loan as proof of creditor confidence is the equivalent of Trump saying that global warming is BS cuz of a polar vortex. What you (and Trump) are pointing to is actually evidence for the argument you are opposing.


This time next year, China will have a Tesla factory, and production lines making 3,000 a week of the Number 1 selling car on the planet.

Let me guess, you have not bothered to find out what the quickest ever timeline is for similar factory getting set up. Didn't think so. You are just trusting Musk despite a history extremely fraudulent forecasts.
« Last Edit: March 12, 2019, 08:14:19 AM by Neven »
big time oops

Sigmetnow

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Re: Tesla glory/failure
« Reply #1679 on: March 12, 2019, 01:59:23 PM »
What is the difference between a non-recourse loan and a recourse loan?
Quote
Not surprisingly, as a matter of principle, borrowers almost always favor non-recourse loans, while lenders almost always favor recourse loans. While potential borrowers might find it attractive to hold out for non-recourse loans, it is important to remember that they come with higher interest rates and are reserved for individuals and businesses with the best credit.
https://www.investopedia.com/ask/answers/08/nonrecourse-loan-vs-recourse-loan.asp

Quote
Quote
This time next year, China will have a Tesla factory, and production lines making 3,000 a week of the Number 1 selling car on the planet.
...find out what the quickest ever timeline is for similar factory getting set up. ...
The Giga 3 line is a copy of an existing line.  It is not setting up a whole new process.  Tesla has already had over two years to improve and refine its Model 3 production line.  You will, apparently, be amazed!
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James Lovejoy

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Re: Tesla glory/failure
« Reply #1680 on: March 12, 2019, 05:51:05 PM »
Quote
The Giga 3 line is a copy of an existing line.  It is not setting up a whole new process.  Tesla has already had over two years to improve and refine its Model 3 production line.  You will, apparently, be amazed!

No.  He'll just see that as another reason why Tesla is going to fail.  My guess is he'll say something on the order of "Now Tesla is losing money on twice as many cars.  They are going to go bust twice as fast."  But he may have another take.  The Tesla haters can spin any positive into a negative.

Sigmetnow

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Re: Tesla glory/failure
« Reply #1681 on: March 12, 2019, 06:27:11 PM »
Scared much?  The Kansas City car dealers association doesn’t want people even looking at a Tesla.

Tesla Model S and X owners face discrimination at dealer-run auto show
https://www.teslarati.com/tesla-model-s-model-x-discrimination-auto-show/
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GoSouthYoungins

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Re: Tesla glory/failure
« Reply #1682 on: March 13, 2019, 01:34:17 AM »
Quote
Quote
This time next year, China will have a Tesla factory, and production lines making 3,000 a week of the Number 1 selling car on the planet.
...find out what the quickest ever timeline is for similar factory getting set up. ...
The Giga 3 line is a copy of an existing line.  It is not setting up a whole new process.  Tesla has already had over two years to improve and refine its Model 3 production line.  You will, apparently, be amazed!

Okay, so have you bothered to find out the quickest factory build and set up that is a copy (which it isn't actually, but w/e)? No, you have not.

Does it bother you that every other timeline Musk has ever layed out has been offensively incorrect? No, it does not.

When a doomsday cult watches the apocalypse date pass without event, do they realize they were wrong? No, they don't.

What is the difference between a non-recourse loan and a recourse loan?
Quote
Not surprisingly, as a matter of principle, borrowers almost always favor non-recourse loans, while lenders almost always favor recourse loans. While potential borrowers might find it attractive to hold out for non-recourse loans, it is important to remember that they come with higher interest rates and are reserved for individuals and businesses with the best credit.
https://www.investopedia.com/ask/answers/08/nonrecourse-loan-vs-recourse-loan.asp

Do you not understand that Tesla has only been taking out RECOURSE loans for the last 2 years, and they have now pledged ALL of their assets??!?

The part you highlighted makes it perfectly clear: borrowers prefer non-recourse loans, but if they are deemed credit-worthy enough then they have to take out recourse loans.

The recent ABL increase is a RECOURSE loan ("Asset-Backed-Loan"). Ironically the increase came from the only collateral Tesla has left, its new inventory, lol.
big time oops

GoSouthYoungins

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Re: Tesla glory/failure
« Reply #1683 on: March 13, 2019, 01:39:06 AM »
Tesla is in another round of layoffs.

10 weeks into the year...

3 rounds of layoffs (something which was never again going to happen according to Musk).

3 rounds of price cuts (partially reversed).

1 CFO resignation (replaced by a noob).

1 General Counsel resignation (replaced by a noob).

132 ambien pills.

420 bong rips.

1 contempt charge.

62 micro LSD doses.

23 MDMA trips.

Tesla is going to have a great year. Tesla is totally going to be profitable this year.   ;)
big time oops

Sigmetnow

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Re: Tesla glory/failure
« Reply #1684 on: March 13, 2019, 03:19:08 PM »
Are Chinese electric car start-ups doomed after Tesla’s big price cuts?
Quote
Tesla’s price cuts have provoked a fierce debate over the maturity of domestic EV industry – especially newcomers. 
Rapid growth in China’s EV market has been driven by government incentives to encourage consumers to shift away from gas guzzlers

In recent years there has been a wave of Chinese electric vehicle makers – from Byton to Nio to Xpeng – looking to take on Elon Musk’s Tesla, encouraged by government support for a move away from the internal combustion engine.  Now that the Palo Alto-based giant has slashed prices ahead of commencing local production later this year in China, people are asking if the burgeoning crowd of domestic challengers are going to run out of road.

It has become such a hot topic that even Miao Wei, China’s industry and information technology minister, has joined the debate.
“Not all [independent Chinese carmakers] will die, but neither can they all survive,” the minister told the China Securities Journal when asked about the impact of Tesla’s price cuts on the sidelines of the National People’s Congress on Tuesday.
https://apple.news/AOw-FgoMzR8uYXCdVkkk3pQ
https://www.scmp.com/tech/start-ups/article/3001352/are-chinese-electric-car-start-ups-doomed-after-teslas-big-price

Volkswagen warns on jobs as margins slip, electric plans accelerate
Quote
WOLFSBURG, Germany (Reuters) - Volkswagen will cut jobs as it speeds up the rollout of less labor-intensive electric cars and will review its sprawling portfolio of brands as it battles to reverse a slide in profit margins, the German carmaker said on Tuesday.
The company said it planned to launch almost 70 new electric models by 2028, aiming to put itself at the forefront of the industry's shift to zero-emissions driving following the 2015 scandal over its cheating of U.S. diesel emissions tests.

However, it said investments to retool factories, as well as adverse currency moves and a sales slowdown triggered by new emissions certification tests, led to a fall in operating margins at its VW, Skoda, Audi and Porsche marques last year.
The margin at its top-selling VW brand slipped to 3.8 percent in 2018 from 4.2 percent in 2017.
"Despite all the rhetoric, the opportunity to reduce an historically high fixed cost base, 2018 actually saw a new high," Evercore ISI analysts said. "This is unacceptable."
At 1550 GMT, Volkswagen shares were down 2.1 percent at 143.54 euros.
The group said it would respond by aligning management pay and bonuses more closely with profitability, cutting manufacturing complexity and reducing headcount by an unspecified amount.
https://www.businessinsider.com/volkswagen-warns-on-jobs-as-margins-slip-electric-plans-accelerate-2019-3

—-
Traveling salesperson trades Audi Q3 for Tesla Model 3, documents savings.
Quote
Aniseh Sharifi (@ani_seh)
I don’t have a charger at home.
I typically charge my car at work and I don’t pay to do this.
I work in sales and I’m on the road quite a bit.
These Supercharger costs are when I charge my car on the road and on the weekends.
https://twitter.com/ani_seh/status/1105442219417325569
On average I drive 25,000kms/yr.
I picked up the #model3 on 25/5/18.
Today, the car has 21,451kms.
My driving habits have not changed.  You can tell when the busy months are on the road.
Weather conditions do affect how much the heat/AC is used and how often charging is needed.
Image below.
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oren

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Re: Tesla glory/failure
« Reply #1685 on: March 13, 2019, 05:06:51 PM »
Traveling salesperson trades Audi Q3 for Tesla Model 3, documents savings.
Quote
Aniseh Sharifi (@ani_seh)
I don’t have a charger at home.
I typically charge my car at work and I don’t pay to do this.
I work in sales and I’m on the road quite a bit.
These Supercharger costs are when I charge my car on the road and on the weekends.
That's not a fair comparison, as the unknown workplace charging costs are born by his employer. Although i'm sure his costs would have gone down significantly anyway.

Sigmetnow

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Re: Tesla glory/failure
« Reply #1686 on: March 13, 2019, 05:56:42 PM »
Traveling salesperson trades Audi Q3 for Tesla Model 3, documents savings.
Quote
Aniseh Sharifi (@ani_seh)
I don’t have a charger at home.
I typically charge my car at work and I don’t pay to do this.
I work in sales and I’m on the road quite a bit.
These Supercharger costs are when I charge my car on the road and on the weekends.
That's not a fair comparison, as the unknown workplace charging costs are born by his employer. Although i'm sure his costs would have gone down significantly anyway.

It’s not clearly documented, but I would guess the “gas costs” shown are limited to road-trip costs, since they would need to be itemized separately for expense reports and/or taxes.  That would make them comparable to the Supercharger use; in both cases most day-to-day local driving is omitted. 

In any case, “I’m on the road quite a bit,” so local driving should be a small percentage of the total mileage.
« Last Edit: March 13, 2019, 06:10:41 PM by Sigmetnow »
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1687 on: March 13, 2019, 06:09:16 PM »
The EU is still largely a compliance EV market.  The U.S. was, too — until the rise of the Tesla Model 3, which is now the top selling luxury car in the US and became the best-selling US car by revenue. In the last quarter of 2018, 68% of BEV sales in the US were Model 3s (86% were Tesla).

Quote
Vladimir Grinshpun (@VGrinshpun). 3/12/19, 12:46 AM
This report from Europe levels serious criticism at the European OEMs, and includes a table with a long list of the EV delays by European OEMs.
Report claims that EU OEMs are intentionally suppressing sales to, among other things, protect ... sales of diesel powered cars.
https://twitter.com/vgrinshpun/status/1105329066889031680

Report:  https://www.transportenvironment.org/sites/te/files/publications/EV%20briefing_04_03_2019%20FINAL.pdf
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magnamentis

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Re: Tesla glory/failure
« Reply #1688 on: March 13, 2019, 07:57:24 PM »
tesla became great also because it first had a usable beauty available while i'm wondering why nobody cares to mention that this model 3 looks like a gogo mobil from the 50ies, i find it's front ugly while the back and sides are ok.

don't snip neven, design is crucial when it comes to glory or failure and while i can't prove it, in prediction things when it comes to (bad) car design my records are flawless, i.e latest ford scorpio and the fail of the bangle BMW 7 series with ugly face and the duck like end ;)

as soon as there will be plenty of affordable and great looking cars available from other manufactures model 3 will drop in sales like a stone. it's now ok because others are not up to speed teck-wise yet and certainly not up to speed production (availability) wise but that is going to change as we speak.
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1689 on: March 13, 2019, 08:47:47 PM »
tesla became great also because it first had a usable beauty available while i'm wondering why nobody cares to mention that this model 3 looks like a gogo mobil from the 50ies, i find it's front ugly while the back and sides are ok.
...

Style and beauty are personal tastes; more and more Tesla buyers disagree with you every day. 8) Engineering designed to bring top aerodynamic performance (and thus range) to a vehicle is a feature fledgling EV makers have not yet dared to bring to market, because they are still trying to prove their ICE vehicles are superior while making poor-performing EVs (i.e., the e-tron, iPace) available, for compliance purposes and for getting people into showrooms so they can persuade them to buy an ICE car, instead.

Europeans with Model 3 reservations have had three years to change their minds about the look of a Model 3, but they waited.  And now they’re making the Model 3 a top-seller from the start.  A futuristic, purposeful design is exactly what they want. :P


The Honda EV’s retro design is attractive to others, even if you don’t like it. It would seem your taste is far from the arbiter of success!
https://forum.arctic-sea-ice.net/index.php/topic,438.msg190513.html#msg190513
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1690 on: March 14, 2019, 01:19:45 PM »
Preview of what Tesla bears will say after the Model Y (MY) reveal tonight. Image below.
From: https://twitter.com/yunlinsj/status/1106005208331476992


BTW: Looks like NASA will announce next week that it wants SpaceX to launch NASA’s Orion uncrewed mission around the moon, rather than the space agency’s own SLS rocket, which is facing delays....
https://forum.arctic-sea-ice.net/index.php/topic,2582.msg191926.html#msg191926
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1691 on: March 14, 2019, 03:22:40 PM »
Quote
Tesla Driver(@m_xalher) 3/14/19, 8:25 AM
MODEL 3 MANIA! “Glovis Courage” docking in the heart of Oslo now to unload thousands of Model 3s.
https://twitter.com/m_xalher/status/1106169473168535552
- Strange seeing this huge car carrier in the middle of the Oslo business district of Aker Brygge. It’s the first time a ship like this docks in central Oslo to unload, as they normally unload at Drammen port (where another ship of Model 3s is due tomorrow).
- Update: The car carrier (ship) is going to dock in central Oslo. This is the FIRST TIME ever a large car carrier unloads directly in Oslo. Normally cars are shipped to Norway in smaller ships, and dock at the port of Drammen durther down the coast. @tesla Model 3 taking over!
More photos at the link.
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GoSouthYoungins

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Re: Tesla glory/failure
« Reply #1692 on: March 14, 2019, 04:57:00 PM »
New CFO, New CAO, New GC. Oldest of the three is 41. All promoted from within.

I'm a big believer in youth, and not much of an ageist, BUT I am pretty sure that law and finance lend themselves to experience.

TSLAQ
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1693 on: March 14, 2019, 08:25:07 PM »
Monthly records being broken.
Quote
Lasse Edvardsen (@nasalahe) 3/14/19, 4:47 AM
Model 3 registration in Norway just beat the old Model S record from March 2014. Most registered @Tesla in one month, and we are not even half into March! If they continue at this pace they will beat the record of most registered car, of any kind, registered in one Month! #tesla
https://twitter.com/nasalahe/status/1106114669620748288
This record is actually held by another EV. Nissan Leaf with 2389 cars registered in March 2018.
Data image below.

Quote
Lasse Edvardsen (@nasalahe) 3/14/19, 2:56 PM
And more cars arriving today... Video: Bjarne Henrik Tovang
https://twitter.com/nasalahe/status/1106267845107818498
Image below; Video clip at the link pans across the dock and into the ship

——
Quote
Vincent (@vincent13031925) 3/14/19, 12:01 PM
Tesla Model 3 massive delivery in China will start on March 15th.
All/Most of the shipments to China recently will finish delivery before the end of Q1
https://twitter.com/vincent13031925/status/1106223767557038086
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Rob Dekker

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Re: Tesla glory/failure
« Reply #1694 on: March 15, 2019, 07:56:05 AM »
Just watched the Model Y introduction, with Elon's overview of how we got here.

I am not sure how anyone can still believe that Tesla is anything else but a world-changing success.

In 2008 they built one car. Elon's roadster.
After ten year they produced more than half a million EVs, and they are still ramping up.

Elon stressed that to design a car is one thing. But to design a factory that mass produces that car is something much, much harder.

They did it, and the Fremont factory now employs 10s of thousands of people and robots, and they even had to build a huge tent on the parking to to accommodate the production lines necessary for the Model 3.
 
But that's not enough for a successful EV company.
They needed about 50 GWh/year of battery production, which is more that the entire global production of rechargeable batteries.
So they did that. They built Gigafactory 2 in Nevada. Which is already one of the largest buildings (by footprint) in the world and is still expanding as we speak.

But that was not enough either.
Tariffs hit Tesla TWICE when exporting cars to China, so they decided to set up Gigafactory 3.
This production facility will make batteries AND cars and it is going to be larger than Gigafactory 2 and the Fremont plant COMBINED.

It will serve the larger China market and AFAIK it will be doubling Tesla's production capacity.

Tesla will this year also be spending more resources on the solar roofs project, which was put on hold a bit in 2018 while cranking up Model 3 production.

And, oh yeah, Tesla was running a profit over the past two quarters, and it looks like that will continue.

If all that is not glory, then heck I would not know what would be.

Oh. I almost forgot : Tesla introduced Model Y today :

This is our planet. This is our time.
Let's not waste either.

NeilT

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Re: Tesla glory/failure
« Reply #1695 on: March 15, 2019, 03:09:44 PM »
I am not sure how anyone can still believe that Tesla is anything else but a world-changing success.

I don't know how people believe that NASA didn't make it to the moon, that the dollar is going to collapse shortly or that an unknown massive asteroid is going to hit the planet (every month, ongoing).

The only thing I can think of is that you put the blinkers on, stick your head in a box that runs anti Tesla information constantly then repeat the mantra "Tesla is going to collapse", constantly.

Perhaps that would do it.

Tesla bears short Tesla to make money, not because the company is going to collapse but because it is not quite robust enough that nobody will believe it is going to collapse.  One of the most shorted stocks on the market is Google.  Tell me it's going to collapse tomorrow if you want; I won't believe it.
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1696 on: March 16, 2019, 02:26:19 PM »
So Tesla improves upon the best-selling EV in the world with the Model Y, giving it 66 cubic feet (1.9 cubic meters) of storage space, an optional third row for up to 7 seats, range up to 300 miles/483 km for $47k (230 miles/370km for $39k), a panoramic glass roof, world-leading, constantly-improving Tesla tech, and expected 5-star crash safety ratings in every category — and the general reaction is “Ho hum, is that all?”

I guess this is the new normal, then.  Other EV makers need to step up their game!
Quote
Walter MacVane (@EcoHeliGuy) 3/15/19, 2:26 AM
At 66 cubic feet, the Model Y slots in larger then the Lexus 350 RX(59), BMW X6(60). Lands halfway between the Q5(60) and Q7(72). With the optional 3rd row it’s closest to the Jeep Grand Cherokee (68) and Nissan Murano (67)
https://twitter.com/ecoheliguy/status/1106441420691267585

Quote
Tom Randall (@tsrandall) 3/15/19, 12:18 AM
The new Model Y looks sharp, taking some of the best elements of the Y and X. I wouldn't be surprised if the range is a bit longer by the time it comes out—Musk suggested as much.
https://twitter.com/tsrandall/status/1106409203068030976

——
And, it turns out, there was “one more thing.”  After the webcast ended, they flashed a teaser image of the upcoming Tesla pickup truck!
https://electrek.co/2019/03/15/tesla-cyberpunk-electric-pickup-truck-teaser-elon-musk/
People who say it cannot be done should not interrupt those who are doing it.

Sigmetnow

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Re: Tesla glory/failure
« Reply #1697 on: March 16, 2019, 02:48:50 PM »
About the $2,500 paid when placing a Model Y order (all major credit cards and PayPal accepted!):

Yes, it’s refundable, any time up to when the car is delivered.
Yes, the amount is credited to the final pre-order price of your car.

No, Tesla isn’t counting it as revenue until the car is delivered.

https://www.tesla.com/order/download-order-agreement?redirect=no&country=US&model_code=my
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Sigmetnow

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Re: Tesla glory/failure
« Reply #1698 on: March 16, 2019, 06:30:43 PM »
How Tesla Proved Critics Wrong
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People have said pretty much everything about Tesla. Some said the company was selling its vehicles at a loss and would never be able to make those vehicles under the right conditions, or fast enough. Others said Tesla’s founder, Elon Musk, was crazy and would lead the company to ruin. In early 2018, one car industry veteran even called on collectors to buy the Model S “before the company goes belly up.”

But then Tesla’s numbers started to look more promising. In its 2018 Q3 report, Tesla boosted its share price and gave the NASDAQ its best day in months. The company had also fulfilled its production and distribution objectives during Q3, showing every sign of staying in the black (at least until it had to pay interest on loans during the first quarter of 2019).

The Q3 earnings report doesn’t seem to be an exception, either: Q4 was also profitable and everything indicates that Tesla has found a stable way to generate profits. What’s more, Tesla is no longer an industry quirk: Many people have laughed at its production difficulties (while grossly underestimating the achievement of moving from a standing start to mass producing 80,000 vehicles per quarter). But the company is now outselling Porsche, Mercedes Benz, and BMW. This makes Tesla the best-selling domestically-made car company in the United States. The Tesla is also more technologically advanced than any other car on the market. It’s also cheaper and much safer to drive.

Those spectacular Q3 results confounded analysts’ forecasts, proving what some of us have been saying for a while now: Few can understand the strategic vision of a company that is prepared to take risks to change the world. Virtually everyone was wrong about Tesla’s finances and its future. Now, those analysts are scratching their heads and trying to understand what happened. This is because people can’t get their heads around the idea that a company’s customers would volunteer to help distribute its vehicles, contributing to a project they consider themselves part of. Elon Musk will doubtlessly bask in the warm glow of his “I-told-you-so” triumph for months to come. He understands that people want to be part of a project that’s not about selling cars but changing the world.

Few can understand the strategic vision of a company that is prepared to take risks to change the world.
...
Tesla’s profit margin for the Model 3 is 20 percent, well above the industry average in its segment. Overnight, Tesla’s prospects for growth and profitability seem to have become not only credible but probable (regardless of the belief in some quarters that Musk is crazy). I say the world would be a better place with a few more crazy people like him in positions of leadership.

Everyone was wrong about Tesla. In fact, the best thing about all this is that we’re not really talking about an automotive company here. Sure, some people still insist on calling Tesla a car manufacturer that’s not doing too badly, thanks to an innovative road map. But it turns out that the keys to Tesla’s future are batteries, not cars. The cost of batteries continues to fall as more and more batteries are produced and sold, not only for vehicles but also for homes and storage plants. Demand for solar power installations is growing consistently and thus, Tesla has miraculously found itself in one of the fastest-growing sectors in the world. Evidence shows that long-standing environmental concerns about traditional car manufacturing are fully justified. Suddenly, people are seeing the many years of hard work behind Tesla’s overnight success.

In other words: People who say it can’t be done should stop interrupting those who are doing it.
https://medium.com/s/story/guess-what-everyone-was-wrong-about-tesla-8e7da8e866bb
People who say it cannot be done should not interrupt those who are doing it.

Sigmetnow

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Re: Tesla glory/failure
« Reply #1699 on: March 17, 2019, 03:11:32 PM »
China: Gigafactory 3 update
Dozens of pile-drivers have been working day and night for weeks to prepare the site for construction.  Now the above-ground construction really gets underway.

The first steel, prefabricated load-bearing column has been erected and duly celebrated.  Visible progress will happen quickly now!
Interesting to note that this phase of Giga3 looks quite like the facility Tesla is building in Lathrop, California….


Quote
Vincent (@vincent13031925) 3/16/19, 4:05 PM
Now Tesla Shanghai Gigafactory construction is moving to the next level!
Translation: “Congratulation to Tesla Gigafactory GF3 Shanghai for successfully installing the first steel pillar in phase one” …
https://twitter.com/vincent13031925/status/1107009955071029248
Image below.

Quote
Kelvin Yang (@KelvinYang7) 3/16/19, 3:30 PM
Some additional information:
This first column is for General Assembly building. 11.5 meters,10.8 tons.
General Assembly building is 450m x 48m x 15m in size.
https://twitter.com/kelvinyang7/status/1107001259909877761

Giga 3 rendering below is from the Tesla Model Y unveiling on March 14.
People who say it cannot be done should not interrupt those who are doing it.