Michael Krewson

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  1. Despite recent chatter about The Boring Company using its tunnels for Hyperloop technology, high profile venture capitalist and Tesla and SpaceX board member Steve Jurvetson says that building smaller, short-range tunnels for electric vehicle transport is a realistic project that could change the entire concept of tunneling. An aspect of The Boring Company’s original plan was to create a tunnel infrastructure underneath cities as an electric vehicle super highway. A proposed system of underground tunnels, first envisioned by Tesla CEO Elon Musk, would utilize electric skates that could be lowered into the ground and zipped to a destination. Musk recently demonstrated a working proof of concept of the elevator that would be used to lower a Tesla into the underground tunnel. The Boring Company’s specific mission was burrowing smaller, cost efficient tunnels to house these point-to-point local highways. Jurveston said at TechCrunch’s Disrupt San Fransisco that this idea would be great for both The Boring Company and Musk to pursue, maybe even in lieu of Hyperloop technology implementation. “I personally love the idea, in fact even more than the Hyperloop idea, of digging these tunnels,” Jurveston said. “The inside I think that’s so powerful is that if you only envision electric vehicles in your tunnels you don’t need to do the air handling for all carbon monoxide, carbon dioxide, you know, basically pollutants for exhaust. You could have scrubbers and a variety of simpler things that make everything collapse to a smaller tunnel size, which dramatically lowers the cost … The whole concept of what you do with tunnels changes.” The Boring Company said in early August that its tunnels would be used for Hyperloop technology, rivaling companies like Hyperloop One and Hyperloop Transportation Technologies. Rumors have swirled that Musk also wants to develop the Hyperloop from New York City to Washington, D.C., a system that would turn a 4-hour drive into a 29-minute ride. Jurveston made a good point in the panel discussion, saying that by developing shorter highways first, The Boring Company would be able to “cut [its] teeth” before developing full scale, city-to-city Hyperloop technology. “In the near term you do something incremental,” Jurveston said. “Thinking about small local links, that’s very compelling. The Hyperloop concept makes more sense when you’re commuting across a longer distance … to me that [Hyperloop routes] just feels like it comes later. You probably cut your teeth on the things The Boring company has shown, which is taking normal cars through a tunnel.” The post Steve Jurvetson talks The Boring Company: Short-range EV tunnels before Hyperloop appeared first on TESLARATI.com. Via
  2. Tesla is in the midst of building a massive “world’s largest” Supercharger station in Shanghai that is expected to house somewhere between 40 to 60 Supercharger stalls when complete. Video of the new station that’s reportedly located at the Lilacs International Commercial Centre off of Dingxiang Road in Shanghai first surfaced on Reddit, with commenters dubbing the high density Supercharger location as a “superstation.” This upcoming charging station solidifies Tesla’s pledge to bring 1,000 Superchargers to China by year’s end. Shanghai’s upcoming station appear to house the traditional Supercharger as opposed to the lower-powered and more compact urban Superchargers that Tesla detailed earlier this month. The urban chargers, which Tesla designed to provide reliable charging for high density residential areas where individual garage charging is impossible, features a slim and sleek design that isn’t prone to “charge splitting,” wherein power from the charger is reduced when a neighboring vehicle begins to charge from the same bank. A Shanghai “superstation” will further expand charging options for Tesla drivers, linking cities like Hong Kong and Beijing and making all-electric travel across China even easier. As Tesla takes steps closer to the 1,000 Supercharger mark, Chinese Tesla drivers will continue to benefit from an ever-expanding charging network. The post Tesla’s massive Supercharger station in Shanghai will be the largest in the world appeared first on TESLARATI.com. Via
  3. SES-11 to be the last launch from LC-39A ahead of pad modifications for Falcon Heavy After successfully weathering Hurricane Irma, SpaceX is preparing to remedy a slow month with three or even four launches in October. Beginning on October 2nd, schedules have firmed up for the launch of SES-11 aboard a refurbished Falcon 9 first stage. SES, a Luxembourg-based satellite communications company, took the courageous and pioneering step of purchasing the first reused Falcon 9 for a commercial launch, culminating in the successful SES-10 mission in March 2017. Following that successful first reuse, SpaceX would later launch Bulgariasat-1 aboard a similarly-refurbished booster. SES-11 will become the third commercial reuse of an orbital rocket when it launches early next month from SpaceX’s LC-39A launch pad, and is currently expected to attempt a landing on a drone ship in the Atlantic Ocean. This downtime is meant to begin at the same time LC-40, SpaceX’s second East coast pad, is reactivated for Falcon 9 launches. In the best-case scenario, this will allow the company to continue business as usual as it modifies LC-39A for Falcon Heavy, which is expected to begin on-pad testing later this year and potentially conduct an inaugural launch as early as November. As such, KoreaSat-5’s Falcon 9 may end up being the pathfinder SpaceX uses to solve the problems and squash the bugs that will inevitably arise while activating a new launch pad. Delays ought to be expected. Following KoreaSat-5, the next SpaceX launch is not yet clear but will likely be Iridium-4, NEXT satellites 31-40. Including the three launches discussed above, SpaceX is likely to conduct 7-8 more launches before the end of 2017, not counting Falcon Heavy’s inaugural launch due to uncertainty. The post SpaceX to kick off October with two launches and landings in 48 hours appeared first on TESLARATI.com. Via
  4. Tesla Motors could be building a new automotive plant in China without a domestic joint venture if the Ministry of Commerce alters a long-standing manufacturing rule. Bloomberg reported early this week on this possible shift in the policy by the China Ministry, where the department commented that it will “actively implement the opening up of the new-energy manufacturing sector to foreigners, together with other departments under the direction of the State Council.” This joint-venture change is huge news as Tesla and many other automotive companies have been courting China’s Ministry on rule changes that would facilitate production of electric cars in the country. Speculation on this updated policy looks for local governments to create more free-trade zones for manufacturers to produce cars without a traditional joint-venture arrangement with a state-owned entity. The news comes at an exciting time as China announced last week their intentions to phase-out fossil fuel vehicles at some point and Tesla’s interest in a new factory in China. The proposed battery plant is to be located near Shanghai and Musk said in June that the company was working with the Shanghai government to explore local production. China has been reforming this protectionist, joint-venture rule since last year when 100 percent-owned, foreign companies began manufacturing motorcycle and batteries in July 2016. The Rub A couple of huge questions remain with this new development: 1) Will it include all auto manufacturers and 2) how easy will it be to manufacture in these free-trade zones? The cynic in me relents as domestic car manufacturing translates to a large supply chain for Chinese companies and strong economic growth to follow. Also, a shift in this policy could be an advantage for Tesla, as GM and VW already announced earlier this year their intention to produce electric cars with state-owned companies. GM announced the Velite 5 hybrid would be produced by state-owned Shanghai Automotive Industries. The advantage for Tesla is the ability to move at their speed, and this may be a small advantage compared to legacy automakers and their current manufacturing relationships in China. Companies have criticized the joint-venture process for years now and Bloomberg reports that this policy could be in place by 2018. The post Tesla China sees an opening with manufacturing rule change appeared first on TESLARATI.com. Via
  5. Brick-and-Mortar: The Precarious Fate of Traditional Retail

    Another reason to buy the broad market indexes to get the deals when they go up in a fire sale
  6. The rise of e-commerce has been a disruptive force in the retail sector. In fact, 5,300 store closings were announced in the first half of 2017 — about three times as many as during the same period in 2016. At this pace, the 2017 total should easily exceed the 6,163 store closings in 2008, the worst year on record. Retail bankruptcies have also been on the rise, with 345 companies filing by mid-year.1 A painful recession was to blame for thousands of retail store casualties in 2008, but for the most part the U.S. economy has been humming along in 2017. The unemployment rate dropped to 4.3% in June, and gross domestic product grew at a 2.6% annual rate in the second quarter, driven by a 2.8% increase in consumer spending.2 So why is 2017 turning out to be such a tough year for retailers? Structural Shakeout Brick-and-mortar retailers are losing market share to e-commerce sites such as Amazon. Average monthly sales at department stores were $7.3 billion less in 2016 than they were in 2000, while nonstore retail sales increased by $35 billion.3 The Internet also makes it easier for shoppers to research products and compare prices, reducing foot traffic in stores and limiting pricing power. Here are several more trends that have created challenges for the nation's retailers. Profit pressure. Even though many traditional retail chains have invested in e-commerce channels, online sales require higher technology, customer acquisition, and marketing costs than in-store sales, which reduces their profit margins. E-commerce sales increased to 15.5% of total sales in 2016, up from 10.5% in 2012, while retail margins fell from 10.5% to 9%, on average.4 Mall bubble. The shift to e-commerce was preceded by several decades of overbuilding. Between 1970 and 2015, the number of U.S. malls grew twice as fast as the population, leaving the United States with five times more shopping space per person than the United Kingdom, and 10 times more than Germany.5 Debt burden. Some companies are also struggling under heavy debt loads, making it more difficult to turn a profit and fund investments needed to compete in the e-commerce arena. Overall, the amount of retail debt rated by Moody's has surged 65% since 2007.6 Reluctant shoppers. Many Americans (and especially young consumers) now prefer to spend their money on special experiences with friends and family (such as travel and restaurant meals) rather than material goods such as clothing and jewelry. For example, spending in restaurants and bars has grown twice as fast as all other retail spending since 2005. And 2016 was the first year ever that U.S. consumers spent more money eating out than they spent on groceries.7 Coping Strategies Retailers that specialize in goods that are difficult to buy online (such as home improvement supplies) and stores that appeal to "bargain hunters" may fare better than pricier department stores and mall chains that mostly sell apparel and accessories, an e-commerce category that is growing quickly.8 Inside or outside of bankruptcy, many retailers are working to improve their future prospects by renegotiating more affordable leases and reducing their real estate "footprint," which often involves closing underperforming stores and/or moving into smaller spaces. Other common strategies include elevating the in-store shopping experience, focusing on exclusive brands, and using loyalty programs to reward and retain customers.9 Retailers are also working to integrate online and in-store sales channels, which makes it easier for customers to locate the items they want and finalize their purchases. To help generate online and in-store sales, many companies are using technology that tracks customer behavior and uses the data to create targeted marketing strategies and promotions. Even so, as many as one-fourth of the nation's 1,200 malls could close by 2022, primarily aging properties in less prosperous communities. A number of malls with advantageous locations are being redeveloped into lifestyle destinations with activities and entertainment (such as athletic facilities and concert venues) designed to attract foot traffic to the remaining stores and restaurants. Mall tenants are likely to become more diverse, with a wider range of service providers and fewer clothing stores.10 Economic Effects Nearly 16 million people work in retail, many as cashiers or salespeople. From January to June, the U.S. economy shed about 71,000 retail jobs, and job losses could continue as long as the sector continues to struggle.11 E-commerce employment is expanding considerably, but most of these new jobs are in or near metropolitan areas. If large-scale dislocation of retail jobs continues, the economic effects could be worse for rural areas than for larger cities.12 The growth in e-commerce may also be holding down inflation. According to the PCE price index, inflation increased just 1.4% in June over the previous year.13Consumers have largely benefited from lower prices resulting from intense competition among retailers, some of which now offer to match online prices. More household names could cease to exist in the coming months, and some of their competitors might even benefit from industry consolidation. In the end, a retail company's long-term survival may depend on its ability to adapt quickly to an ever-changing market environment. 1) CNNMoney, June 23, 2017 2, 13) The Wall Street Journal, August 1, 2017 3) The Wall Street Journal, May 11, 2017 4, 8) The Wall Street Journal, April 21, 2017 5, 7) The Atlantic, April 10, 2017 6) The Wall Street Journal, July 17, 2017 9) The Wall Street Journal, February 28, 2017 10)The Los Angeles Times, June 1, 2017 11) The Wall Street Journal, July 19, 2017 12) The New York Times, June 25, 2017
  7. Jefferies analyst Phillipe Houchois has adjusted his 12-month price target for Tesla shares from $280 to $240 after the firm noted a miscalculation in the number of shares outstanding. The new price target for Tesla shares represents an aggressive 36 percent downside from Tuesday’s close. The Wall St. firm issued a revised report Wednesday morning that corrects the number of Tesla shares outstanding used in the original valuation, from 139.6 million shares to 165.2 million shares outstanding in its note entitled “Erratum: Tesla and the Permanent Revolution.” “This note corrects the PT from $280 to $240 due to an error in the DCF [discounted cash flow] share count – No other change,” reports the Jefferies analyst. As shares of Tesla continue to trade at near all-time highs, Houchois has doubt that the Silicon Valley-based electric car maker can scale its vertically integrated business model. “Achievements to-date and vision are impressive, but we don’t think Tesla’s vertically integrated business model can be scaled up as profitably and quickly as consensus thinks and valuation multiples imply,” wrote the analyst in his original note to clients. Houchois’s miscalculation in Tesla’s valuation using a discounted cash flow method can be seen as a careless mistake that casts doubt on the firm’s credibility. Still, Jefferies stands by their downbeat view of Tesla. “Given capital intensity, we don’t think DCF [discounted cash flow] can justify the current valuation, let alone upside,” he wrote. “We appreciate the growth upside from a brand whose reach goes well beyond auto markets and that valuing Tesla today assumes some form of ‘steady-state’ that is unlikely to happen anytime soon.” What do you think of the adjusted price target of $240 for Tesla shares? The post Wall St. firm that gave Tesla a $280 price target adjusts to $240, citing error in calculations appeared first on TESLARATI.com. Via
  8. Tesla CEO Elon Musk has made it very clear that he is worried about artificial intelligence development leading to an eventual demise of the human race. He has signed letters to the United Nations calling for an autonomous weapons ban, and even sparred with Silicon Valley moguls, like Mark Zuckerberg, over the risk AI development presents. Another leading voice in the industry, Google’s AI Chief John Giannandrea, has come out saying that all the hysteria induced by people like Musk is over hyped. “I am definitely not worried about the AI apocalypse,” Giannandrea said at the TechCrunch Disrupt conference in San Francisco on Tuesday. “I think it’s perfectly reasonable to discuss, but what I object to is the belief that it’s inevitable … and I think that if we have better machine intelligence, it need not be scary, it can augment us.” Giannandrea joins the likes of Zuckerberg in opposing AI skeptics who feel that rapid development could eventually pit human against machine. For Giannandrea, it’s just not that simple. “I think there’s a huge amount of hype around AI right now. There’s a lot of people that are unreasonably concerned around the rise of general AI,” Giannandrea said. “Machine learning and artificial intelligence are extremely important and will revolutionize our industry. What we’re doing is building tools like the Google search engine and making you more productive.” He even went as far as saying that the terms AI and artificial intelligence aren’t the proper way to refer to the technology. Instead, Giannandrea said he likes to shy away from it because it’s too broad — he much prefers “machine intelligence.” Musk’s recent letter to the UN solidified that he is a direct proponent of developing AI technology in what he says should be a safe, responsible and regulated. Musk made these initial statements about AI at a National Governor’s Association meeting in July. “AI is a rare case where we need to be proactive about regulation instead of reactive,” he said. “Because I think by the time we are reactive in AI regulation, it’s too late.” Watch as Giannandrea discusses Google’s initiative to make computers smarter. The post Google AI chief ‘not worried’ about AI apocalypse despite Musk’s warnings appeared first on TESLARATI.com. Via
  9. Tesla has rolled out an over-the-air software update that allows its drivers to see the maximum attainable charging speed at each Supercharger location ahead of time. Software release notes for v8.1 (2017.36 1b27c6d) reveal a new ‘Supercharger power’ feature that displays the maximum power available at each location, beneath its respective onboard navigation map icon. “With this release, we’re adding power information for Superchargers so that you can easily find a charger that meets your charging needs. Supercharging your Model S isn’t always just about finding the nearest Supercharger. Sometimes it’s about finding the one that will get you back on the road the quickest, even if it’s a little farther away.” reads the description for the new feature. “Model S now displays the maximum power available for each location, so you can choose the one that best fits your needs.” The software update made available to Model S and Model X arrives as Tesla begins to roll out its newest urban Supercharger into city centers and densely populated urban areas. We recently published a first hands-on look at the slimmer and more compact 72 kW Supercharger in Chicago. “Now, as part of our commitment to make Tesla ownership easy for everyone, including those without immediate access to home or workplace charging, we are expanding our Supercharger network into city centers, starting with downtown Chicago and Boston.” said Tesla in a blog post. Providing Tesla drivers with the ability to see a Supercharger’s maximum power or charging speed ahead of time is a further testament that the company is committed to alleviating any inconveniences associated with charging. Back in February of this year, Tesla pushed out a feature that gave drivers visibility on a Supercharger location’s occupancy, thereby allowing them to see how busy a particular location is. The company also began to display Supercharger fees as well as indicators for nearby amenities such as restaurants, Wi-Fi access and restrooms through other incremental over-the-air software updates. We’ve provided a before (left) and after (right) look at information being displayed for each Supercharger location. H/T to Marco for the screenshots Teslarati has crowdsourced recommendations for each Tesla Supercharger, destination charger and Tesla store/service location from Tesla drivers across the world. Information is made available through our Interactive Supercharger Map, and mobile apps for iOS and Android. The post Tesla is letting its drivers see Supercharger charging speeds ahead of time appeared first on TESLARATI.com. Via
  10. Tesla states that its Long Range Model 3 is capable of 310 miles of driving range per single charge, but the company might be voluntarily under reporting its true driving range according to data revealed in the official EPA certification summary report for the vehicle. First it’s important to understand how the US Environmental Protection Agency (EPA) calculates electric vehicle driving range using a 5-cycle procedure to determine its MPGe rating. The EPA multiplies an electric vehicle’s ideal city and highway range value by a 0.7 factor to account for real world environmental conditions such as wind resistance and other variables that contribute to increased energy consumption. Both city and highway range values are then weighted by 55% and 45% respectively, before being added together and arriving at the vehicle’s true EPA-rated range. In the instance of Tesla’s Long Range Model 3 that reportedly uses an 80kWh battery pack, the EPA’s multi-cycle test procedure yields 495.04 actual miles attained in city driving conditions and 454.64 miles in highway testing. Using the EPA’s .7 factor and weighted formula, we can arrive at the following Model 3 city and highway true driving range. Long Range Tesla Model 3 City/Hwy range 495.04 miles x .7 = 346.528 miles (~557.68 kilometers) 454.64 miles x .7 = 318.248 miles (~512.17 kilometers) Model 3 EPA-Rated Combined Range (346.528 x .55) + (318.248 * .45) = 333.8 miles (537.2 kilometers) The Long Range Model 3’s EPA-rated 334 miles of driving range is a far departure from the company’s stated 310-mile range. Why? According to discussion taking place on the Model 3 Owners Club forum, it’s believed that Tesla is voluntarily reducing the vehicle’s combined range from 334 miles to 310 miles – something that automakers are able to do according to EPA guidelines. Tesla is likely voluntarily under reporting Model 3’s driving range to further differentiate it from the company’s Model S 100D that has a stated EPA driving range of 335 miles per single charge, but at a price point that’s roughly double that of Model 3. Incidentally, EPA data for Model S suggests that Tesla has also voluntarily lowered the vehicle’s EPA-rated range. The Model S 100D has a true range of 341 miles (~549 kilometers) but under reported at 335 miles (539 kilometers), according to the EPA’s Certification Information Summary Report for Model S. We’ve embedded the Model 3 EPA report below. Why do you think Tesla is under reporting Model 3’s true range? Tesla-Model-3-EPA-CSI-HTSLV00.0L13 The post Tesla Model 3 actually has 334 miles of range according to EPA data appeared first on TESLARATI.com. Via
  11. Porsche has announced that its Mission E concept vehicle could be ready for production as early as 2019, challenging the likes of the Tesla Model S in the EV market. The Mission E concept will have a starting price tag between $80,000 to $90,000. The all-electric four-dour sports sedan with dual electric motors will be able to reach a top speed of 155 mph and boast a 0-60 time in under 3.5 seconds. Similarly, Tesla’s Model S 100D is also all-wheel drive and can reach a top speed of 155 mph, with starting price of roughly $80,000. The Verge reported that Porsche is joining the likes of several other outspoken vehicle groups. BMW Group, among many others, recently said that it had committed to a fully electrified lineup. While others have made extensive commitments to electric vehicle development, Porsche’s Mission E seems to be among the vehicles that could threaten the Model S the most. As a premier luxury EV, the Mission E is comparable in price to Tesla’s Model S 100D but with better acceleration. Model S 100D is capable of 0-60 in 4.1 seconds. Vehicle range for the Mission E has been reported to be close to 310 miles per single charge, also comparable to Model S 100D’s 335-mile range. The Mission E’s potential to rival the Model S is significant, but the concept development is a departure from parent company Volkswagen’s recent statements about diesel vehicles. CEO Matthias Mueller said the company did not consider Tesla a threat and would continue to forge ahead with clean diesel technology. “The diesels we are offering today are clean. They comply with the Worldwide Harmonised Light Vehicle Test Procedure requirements and they meet the requirements and needs of our customers,” he said. The Mission E may one day challenge the Tesla Model S, but for now, Elon Musk’s electric car company reins as a leader in the luxury EV market. The post Porsche’s Mission E almost stacks up against Tesla’s Model S in price, range and performance appeared first on TESLARATI.com. Via
  12. Amid Tesla’s soaring stock price and Model 3 production ramp up, one Wall Street firm says that CEO Elon Musk’s idea for a vertically integrated business won’t be able to scale up as quickly and profitably as consensus thinks. Jefferies set a 12-month share price target at 27 percent less than the value at Monday’s close, amounting to a $280 share price. The firm’s skepticism is simple: it doesn’t think that Tesla will be able to reach its lofty goals, reports CNBC. “Achievements to-date and vision are impressive, but we don’t think Tesla’s vertically integrated business model can be scaled up as profitably and quickly as consensus thinks and valuation multiples imply,” analyst Phillip Houchois wrote in a note to clients. Houchois went further, predicting that Tesla’s intense cash burning would end up contributing to a deep hole for the company. He said there are “doubts about Tesla’s ability to generate 30+% gross [profit] margin required to support its vertically integrated business model in distribution/supercharging.” Tesla is slated to burn roughly $2 billion by the end of 2017 as it ramps up Model 3 production in accordance with Musk’s model S production curve. While high capital investment is required at the outset, Jefferies is skeptical that Tesla will be able to turn a profit or even reach full scale production. “Given capital intensity, we don’t think DCF [discounted cash flow] can justify the current valuation, let alone upside,” he wrote. “We appreciate the growth upside from a brand whose reach goes well beyond auto markets and that valuing Tesla today assumes some form of ‘steady-state’ that is unlikely to happen anytime soon.” The view is a strict departure from recent chatter about Tesla’s stock price, which jumped nearly 10 percent last week. Big news last week regarding the Tesla Semi truck, the Chinese automotive industry’s plans for a petrol and diesel ban and a new urban Supercharger. As Musk and Tesla march toward full scale Model 3 production, over time it will become clear whether the company can deliver on its lofty promise of 10,000 Model 3 vehicles produced per week by the end of 2018. The post Tesla won’t be able to scale business model, says Jeffries – $280 price target set appeared first on TESLARATI.com. Via
  13. The satellite constellation may also compete with Earth imaging companies and include scientific instruments Trademark filings have been unearthed by members of the SpaceX subreddit that suggest that the company’s satellite internet constellation will be named Starlink. Previously discussed on Teslarati, recent developments during the process of attaining regulatory permissions could pose a major hurdle for SpaceX’s broadband constellation. Implications of FCC filings aside, SpaceX may still launch its first test satellites later this year. The company has dozens of job openings under “Satellite Development” in the states of Washington and California as of September 18. By developing and administrating a communications network between Mars and Earth, SpaceX could gain deep spaceflight experience, allow NASA to more directly focus on science and planetary exploration, and also facilitate the construction of an interplanetary communications foundation SpaceX will need if it hopes to develop a human presence on Mars. In fact, Musk briefly revealed that SpaceX was working with NASA on “Mars communications” at the ISS R&D Conference earlier this year. Regardless of its potential uses around Mars, SpaceX’s Starlink broadband satellite constellation could revolutionize internet access on Earth and provide SpaceX the resources it needs to develop Mars colonization hardware. Details about the satellite constellation will likely be provided when Elon Musk speaks at this year’s International Astronautical Congress. The post SpaceX’s internet satellites have an official name: Starlink appeared first on TESLARATI.com. Via
  14. Panasonic Corp., a main supplier for Tesla and strategic partner to the Silicon Valley-based electric car maker, is looking at a bright future as the company continues to ramp battery development and production at the Gigafactory, in conjunction with Tesla. Thirty percent of Panasonic’s 2017 battery sales were to Tesla, which has become a major focal point for the company’s long term growth strategy. The Japanese electronics giant is focusing on EV battery sales, while demand for consumer electronics continue to see a decline. “We are now ready for a major turnaround,” said Yoshio Ito, executive vice president of Panasonic’s Automotive & Industrial Systems Co., during a media roundtable with Automotive News. “Our understanding of this market is that it is very promising in terms of growth.” Panasonic is aimed at increasing both power and energy density in its line of battery cells, which has an overall impact on electric vehicle acceleration and driving range, respectively. In addition to producing batteries, Panasonic also believes that it has approximately 40 percent of the automotive relays market. Relays, or electronically operated switches, are major components used in an electric vehicle’s drivetrain control system and onboard communications. Ito said that automotive sales should double to around $21.91 billion by 2022. With a clear position to help transition automakers to all-electric models, Panasonic could be poised for continued growth. Several major automakers, from Volvo to Daimler to Maserati, have already said that they would be taking major steps toward electrification. While the industry begins to turn toward electric propulsion, Panasonic already has a strong hold on Tesla’s battery production, which is expected to increase exponentially in the coming months. The automaker has sights set on producing 500,000 vehicles by 2018, which would require a substantial increase in battery cell production. Panasonic is also a key partner to Tesla in both Gigafactories — one in Sparks, Nevada and the other in Buffalo, New York where solar cells are being produced for Tesla’s solar panel and Solar Roof product. As Tesla works toward volume production of its mass market Model 3 sedan and solar products, Panasonic is well-positioned to become one of the word’s top auto suppliers. The post Panasonic poised to become a top auto supplier as Tesla ties deepen appeared first on TESLARATI.com. Via
  15. Tesla’s stock (Nasdaq: TSLA) reached an all-time high of $387.72 during the trading session Monday. The new record marks Tesla’s fifth consecutive day of gains, with the stock up nearly 9% in September and 78% for 2017. While there’s no specific correlation to what is driving the stock upwards in the past few weeks, there are a number of reasons that could serves as a contributing factor. Additionally, the press and new owners of the Model 3 have already been giving the car high marks. If the Model 3 gets great reviews from in-depth tests this fall, you can expect the stock to react positively. Tesla Semi On October 26th Tesla will reveal its highly anticipated electric semi. The Tesla Semi event will be held in Hawthorne, CA where the company’s design studio resides. The upcoming reveal will arguably be a great test of Tesla’s ability to develop two major products simultaneously. If Tesla can develop both a Semi-truck and Model 3 at the same time, it could reduce investors concerns of CEO Elon Musk’s abilities to deliver products on time. Let’s not forget that Musk also is the CEO of SpaceX, CEO of The Boring Company, CEO of Neuralink, Founder of OpenAI, and is now developing a full scale Hyperloop with SpaceX. One thing is clear, as Musk knocks more and more items of his to-do list, investors reward the company with increasing valuations. If the company is able to continue this trend, we could see TSLA break $400 this year. Disclosure: I hold a small long position in TSLA, but do not plan on changing these positions in the next 72 hours. The post Tesla (TSLA) stock hits all-time high as Model 3 production ramps appeared first on TESLARATI.com. Via