Tesla is getting serious about its next vehicle, the highly anticipated Model X. So serious that the company is shutting down production of the Model S sedan for two weeks at its factory in Fremont, Calif. to install new equipment.
For its fiscal fourth quarter, Tesla Motors Inc (NASDAQ:TSLA) reported revenues and earnings that missed the Street’s estimates by some margin. Net loss per share swelled to 86 cents, up from the net loss of 13 a cents a share posted in the same quarter last year.
By Diane Cardwell In recent years, the fast-growing popularity of solar panels has intensified a central challenge: how to use the sun's energy when it isn't shining. Now, Tesla Motors, the maker of luxury electric sedans, says it is taking a big step toward meeting that challenge with a fleet of battery systems aimed at homeowners, businesses and utilities. The company's foray into the solar storage market will include rechargeable lithium-ion battery packs that can mount to a home garage wall as well as battery blocks large enough to smooth out fluctuations in the grid.
Tesla Motors Inc (NASDAQ:TSLA) has been getting bad vibes from China lately, as stalling sales take a toll on its top executives in the region. The automaker said today that June Jin, its Vice President of Communications in China, was no longer working for the company.
Daimler AG’s (OTCMKTS:DDAIF) Mercedes-Benz marquee has announced a breakthrough concept that could be the most serious step toward autonomous cars. The Germany luxury automaker unveiled the F 015 "Luxury in Motion" concept last night at the Consumer Electronics Show (CES) 2015 in Las Vegas, and gave a roadmap to its progress into driverless vehicles for the future.
Volkswagen AG (ADR)’s (OTCMKTS:VLKAY) luxury division, Audi, announced Saturday that it had decided to spend almost $29.3 billion (€24 billion) between 2015 and 2019 on planned investments to increase its production and car lineup. The move comes as Audi looks to make higher investments to grow in scale, increase its global footprint, and compete against the likes of BMW (OTCMKTS:BAMXY) and Mercedes-Benz in the luxury car segment.
When Tesla Motors Inc (TSLA) went public in 2010, its story was similar to that of Alibaba Group Holding Ltd (BABA). The IPOs were oversubscribed, and high demand forced both firms to set prices above the initial ranges. In the case of Tesla, the shares were first expected at $14-16, but actually went for $17 apiece.