SpaceX eyes major drone ship fleet upgrades and a new rocket recovery robot


SpaceX has kicked off a series of major upgrades planned for its East Coast fleet of drone ships, centered around Just Read The Instructions (JRTI) and most recently culminating in the apparent fabrication of a second tank-like rocket recovery robot.

Back in Q4 2019, West Coast drone ship JRTI officially departed the Port of Los Angeles berth it operated out of for 3+ years — traversing the Panama Canal, making a weeks-long pit-stop in a Louisiana port, and ultimately arriving at Port Canaveral on December 11th. The modified barge spent more than a month relatively untouched – as was the somewhat mysterious cargo it had brought with it from the Gulf Coast – before SpaceX began JRTI’s long-awaited upgrades around a month ago.

For almost half a year, it’s looked like that SpaceX would move its West Coast drone ship to Florida after the company’s Vandenberg Air Force Base (VAFB) pad entered a major lull in launch activities in early 2019. Aside from one launch in June 2019, SpaceX’s West Coast pad has remained unused and that isn’t expected to change anytime soon. With Cape Canaveral potential reopening its dormant polar launch corridor just weeks from now, it’s entirely possible that SpaceX will be able to perform all of its planned launches from Florida alone for at least the next 6-12 months. Targeting more than 30 East Coast launches in 2020 alone, SpaceX could also benefit from at least one additional drone ship to continue high-volume Falcon booster recoveries without ship availability becoming a major launch constraint. Thankfully, JRTI may be the perfect solution.

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Informally known as ‘Octagrabber’, a reference to the robot’s primary function, SpaceX has been using the only operational instance of the vehicle on drone ship Of Course I Still Love You (OCISLY) for more than two years, beginning in 2017. While far from autonomous, Octagrabber helps SpaceX’s maritime rocket recovery team minimize the risks workers are subjected to and gives the company a bit more flexibility to attempt Falcon booster landings in less-than-pristine ocean weather.

While Falcon boosters are relatively stable once landed, thanks to the vast majority of their empty mass being concentrated around their nine Merlin 1D engines, even moderate waves can cause them to slip and slide around the drone ship deck.

Falcon Heavy center core B1055 successfully landed aboard drone ship OCISLY nearly 970 km (600 mi) off the coast of Florida but was lost soon after when it tipped over in high seas. (SpaceX)
Octagrabber robots are meant to prevent boosters from sliding off of drone ship decks by anchoring them with their tank-like weight. (Teslarati)

In fact, the best operational demonstration of the value of Octagrabber-style recovery robots came after SpaceX’s historic Falcon Heavy triple-booster recovery in April 2019 – the first time all three of the rocket’s first stage boosters successfully landed after liftoff. As it turns out, thanks to moderate hardware differences between Falcon Heavy center core boosters and normal Falcon 9 boosters, OCISLY’s Octagrabber robot did not have the attachment mechanisms needed to ‘grab’ the center core (B1055, in this case). In theory, this could be a non-issue but the drone ship unfortunately ran into high seas, making its deck to pitch and tilt and ultimately causing to B1055 to tip over, breaking in half and effectively destroyed the booster.

With Octagrabber robots, drone ships should almost never lose recovered boosters because of high seas (within reason). As such, it should come as no surprise at all that SpaceX is building a new recovery robot for drone ship JRTI – the newest addition to its Florida fleet.

Falcon 9 B1048 returns to Port of LA aboard drone ship JRTI after completing its launch debut in August 2018. (Pauline Acalin)

Aside from the discovery of a second Octagrabber being built at SpaceX’s former East Coast Starship factory, the nature of other upgrades planned for drone ship JRTI are more mysterious. For several months, the rocket landing platform has had almost a dozen massive generators and new thruster pods stored on its deck, seemingly waiting on an unknown impetus for their installation. In recent weeks, visible work to prepare the new hardware for installation has begun.

Notably, the thrusters and power supplies that seem destined for installation on JRTI would make for a dramatic upgrade, potentially giving the drone ship more power than the tug boats that must currently tender and tow them to landing zones. In other words, that’s a complicated way of saying that SpaceX may be trying to make drone ship JRTI almost entirely independent of contracted tugboats, potentially simplifying and lowering the cost of booster recoveries.

One day soon, SpaceX’s upgraded drone ships may be able to recover boosters and return them to shore without any human technicians. (Richard Angle)

While less likely, it’s also possible that SpaceX is finally in a position to fully realize the “autonomous” namesake of its autonomous spaceport drone ships (ASDS), with high-powered thrusters potentially giving JRTI the ability to leave port, cruise to Atlantic Ocean landing zones, deploy an Octagrabber, and return to port with a booster – all without humans in the loop. That capability is likely still on the horizon but powerful thrusters and generators would bring port-to-port drone ship autonomy within SpaceX’s grasp in the near future.

Check out Teslarati’s newsletters for prompt updates, on-the-ground perspectives, and unique glimpses of SpaceX’s rocket launch and recovery processes.

SpaceX eyes major drone ship fleet upgrades and a new rocket recovery robot

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Tesla Model Y images discovered in latest mobile app update


Tesla Model Y images have been discovered in the latest version of the company’s Android mobile app.

Images of Model Y’s body, 19″ Gemini wheels with and without wheel covers, and an overhead view of the all-electric crossover’s expansive all-glass roof have been added to the latest version 3.10.4-396 Tesla Mobile app (for Android) ahead of customer deliveries.

Redditor matt687 who shared the latest findings to the Teslamotors subreddit, notes that they were able to discover the Model Y app resources after decompiling the Android package (APK) for the latest mobile app and compared it to a previous version of the app. Nothing stood out between the older and newer release of Tesla’s Android app, with features remaining the same, except the addition of the Model Y images.

Notable in the image showing the trunk of the Model Y is the appearance of a cargo shelf.

 

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The latest finding makes sense from a timing perspective, especially as Tesla gears up to make its first Model Y customer deliveries beginning March 15.

The new app resources of Tesla Model Y suggests that owners will have the same mobile app functionality as made available for its entire fleet, including Model S, Model X, and Model 3. Tesla Model Y owners will have the ability to control in-cabin temperatures directly from the mobile app. Presumably, and unlike its closest sibling, Model 3, owners will also be able to control rear heated seats.

In addition, Tesla’s mobile app allows owners to open both front trunk (frunk) and rear trunk, remote start a vehicle with keyless driving, set maximum speed limits for the car, among other a host of other safety and convenience features like Smart Summon.

Tesla Model Y images discovered in latest mobile app update

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Meet Earth’s newly-discovered companion, a mini-moon named 2020 CD3


Earth has a new companion: a mini-moon called 2020 CD3. On Feb. 15, scientists discovered a small rocky chunk that was captured by our planet’s gravity. But don’t get too excited, because it’s likely only a temporary fixture.

Our planet has only one natural satellite, our moon, but for the last couple of years, there’s been another lurking out in space. Astronomers spotted what is likely a carbonaceous asteroid with the help of the Catalina Sky Survey. The mini-moon is between 6.2 and 11.5-feet (1.9 to 3.5-m) in diameter, and roughly the size of a car.

Typically, temporarily captured objects, like 2020 CD3, only hang around for a brief time (from a few months to a year or two) before they are flung back out into space, or in some cases, burn up in our planet’s atmosphere as they’re pulled in by Earth’s gravitational tug.  But according to astronomer’s, it’s been orbiting the Earth for up to three years now.

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The celestial real estate encircling the Earth is pretty crowded, which is probably why we’ve just now noticed it. Asteroids which are piles of planetary rubble, remnants left over from the birth of the solar system are usually very small and dark, making them difficult to spot.

So, discovering 2020 CD3 is kind of a big deal. To date, there have been only a handful of proposed potential mini-moons with only one confirmed — an asteroid named 2006 RH120. The three-foot-wide space rock orbited the Earth for just over a year, from 2006-2007. 

“Out of 1 million known asteroids, this is just the second asteroid known to orbit Earth,” Kacper Wierzchos, the astronomer who detected the object, said on Twitter.

The existence of 2020 CD3 is an exciting discovery for a number of reasons, including providing the chance to study asteroids up close. Most asteroids orbit between Mars and Jupiter, in the main asteroid belt and it takes sending a spacecraft out into the solar system to study one of these celestial objects in detail.

Mini-moon 2020 CD3 was detected by the Catalina Sky Survey and imaged by the Gemini Observatory. Credit: Gemini Observatory

2020 CD3 could provide astronomers with the chance to study asteroids in detail and better understand how they’re captured by planets. Unfortunately,  computer simulations indicate that the mini-moon could be back on a journey around the sun as early as April. That’s because it’s caught in a game of tug-of-war between the Earth and the moon.

Analysis of 2020 CD3’s orbital motion indicates it’s heavy for its size, which leads astronomers to believe it is in fact, an asteroid. But scientists will use the next few weeks to continue studying the enigmatic object in order to definitively determine whether it is indeed an asteroid or perhaps a rogue piece of space junk.

There’s no time to plan a mission to 2020 CD3, as the object is already growing fainter and fainter in images, but astronomers say it will likely be back in a few decades. With more advanced telescopes coming online in the near future, these types of sightings could become more and more common.

Meet Earth’s newly-discovered companion, a mini-moon named 2020 CD3

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Tesla Model 3’s success in Europe was a sucker punch to German automakers


The Tesla Model 3’s success in the European market shocked the region’s biggest automakers, including Volkswagen and Mercedes-Benz. This was despite successful car manufacturers practically writing off Tesla because of its cash flow, production inexperience, and negative outlooks from several hedge funds.

As it turned out, the problem with dismissing Tesla as “the next big thing” is because the Silicon Valley-bred company, through its innovative and unique vehicles, has truly become the hottest company in the car industry. The Model 3 is a big part of that because of its affordability, dispelling the idea that electric cars with sufficient range and high performance are not mainstream cars.

The Model 3’s popularity in Europe was proven after a successful 2019. In December only the Volkswagen Golf and Renault Clio had higher sales figures. This is according to JATO Dynamics, a company that performs market research.

But the popularity of the Model 3 means something other than electric cars is becoming more appealing to consumers. It means automakers that have had success with petrol-powered models, like Volkswagen and Mercedes Benz, may be missing out on a huge opportunity to transition their offerings towards sustainability.

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Europe’s biggest luxury carmakers waited long to begin developing cars that could compete with Tesla, and now the companies are lagging behind. The Model 3 already competes with best-selling petrol-powered premium sedans like the Mercedes C-Class or BMW 3 Series in price, despite being far more tech-focused.

Granted, European carmakers have started their own electric car programs. Both Volkswagen and Mercedes are beginning to build electric cars, but they only began developing EVs after Tesla proved that electric cars can be successful and popular among buyers. This leaves them several years behind Tesla, which holds a sizable lead over other carmakers in range, performance, and affordability.

Tesla’s vehicles are improving in performance and range through over-the-air software updates that allow owners to upgrade their cars through the internet, similar to a smartphone.

In addition to being years behind in terms of hardware and software, Volkswagen and Mercedes are making electric versions of cars that they have been building for years. This disqualifies the vehicles from being potential “game-changers,” according to JATO Dynamics analyst Felipe Munoz in a statement to The New York Times. Tesla’s vehicle designs, on the other hand, are fresh and unique, and Munoz believes this could be one of the reasons the company is doing so well.

The uniqueness Tesla is bringing to the table is precisely the way it will continue to disrupt the European auto market. Its cars offer a new and exciting way to travel, and Munoz says the way Tesla was going to beat traditional automakers was by being different than them. “It’s not only about the car itself. It’s also the way they are selling these cars,” Munoz states.

Tesla Model 3’s success in Europe was a sucker punch to German automakers

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Tesla’s Elon Musk talks China Model 3 Hardware, states new FSD features are coming later this month


Tesla CEO Elon Musk clarified the confusion between Hardware 2.5 and Hardware 3 after a group of Chinese Tesla owners filed a lawsuit against the electric carmaker.

Confusion about Tesla’s Hardware 2.5 being included in the newest deliveries was confronted by some of the newest Model 3 owners in China. Some owners filed a lawsuit against Tesla accusing them of fraudulent behavior after the paperwork for their vehicles stated the company’s HW3 would be included.

The owners were surprised to see Hardware 2.5 was put into their vehicles, but without the purchase of the company’s Full Self Driving suite, the differences between HW2.5 and HW3 are non-existent.

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A group known as the China Consumers’ Association will hear the owner’s initial complaints, but those who are filing with the association say they could demand triple compensation from Tesla if their concerns are not resolved, according to an article from the Nikkei Asian Review.

The problem with their complaint is that HW 2.5 and HW 3 have the same functionality if FSD is not involved. Tesla owner and enthusiast Sofiaan Fraval said, “The difference is FSD Preview mode which is only for FSD purchases. Software has the same functionality otherwise.”

Tesla apologized for the confusion it caused some owners and said they did not mean to mislead customers. The reason for putting the older HW 2.5 into vehicles was to expedite deliveries and get the vehicles to customers who had been waiting as soon as possible. The company also stated there was “almost no difference” in driving experience and safety for the Model 3.

Interestingly enough, Musk stated “Oddly, those who complained didn’t actually order FSD. Perhaps they weren’t aware that the computer is upgraded for free if the FSD option is ordered even after delivery.”

Musk added that Tesla is currently planning to release more features of the FSD suite later this month.

Tesla owners have even reported that Hardware 3 retrofits are becoming a quick and painless process. Tesla owner-enthusiast Tesla Raj shared his experience of having his Model 3 retrofitted with HW3, and stated the process took all of seven hours to complete. Others have stated their vehicles have been upgraded in times as little as 2 hours and 20 minutes.

Owners who have vehicles with either HW2 or HW2.5 and have purchased the FSD suite for their cars can have the upgrade to HW3 free of charge. Even if the FSD suite is purchased after delivery, the hardware will still be upgraded free of charge, making the complaints from Chinese owners questionable.

Tesla’s Elon Musk talks China Model 3 Hardware, states new FSD features are coming later this month

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Tesla ramps trenching work for power cables and infrastructure at German factory site


Crews working at Tesla’s German site are ramping the installation of electrical cables that will supply power to the area when initial construction activities for Giga Berlin begin later this month. The cables are expected to supply Giga Berlin with electricity when the plant begins producing vehicles in 2021.

Tesla completed the clearing of trees from the first 93 hectares of land on February 29, despite losing a week of time due to a complaint filed by the Brandenburg Green League. Now the construction process is ramping up. Power cables are being positioned around the site to provide electricity to crews who will be responsible for building the plant itself.

Emil Senkel shared video footage of construction vehicles digging holes in the ground. These holes run under the L38 road that runs South of the Giga Berlin construction site.

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The cabling being laid today are expected to be used for providing power to the upcoming electric vehicle plant when the building is finished. Thus, the cables will likely remain in place when Giga Berlin begins the initial production of the Model Y crossover in Germany.

Local sources indicate that the digging process for Giga Berlin’s underground cables started around two weeks ago, though some cables placed into the ground are yet to be functional. The cables run from the west of the Giga Berlin property, then south parallel to the Bundesautobahn 10 freeway. The cables then cut to the east and come under the L38 where they will eventually be connected to a power source.

Credit: Emil Senkel

Amidst these activities, construction vehicles like cranes are also beginning to arrive at the Giga Berlin site. Tesla enthusiast Tobias Lindh recently posted a photo of crane parts being delivered to the area. This suggests that some heavy work may soon begin at the future electric car factory’s construction zone.

These activities suggest that the groundbreaking of the Giga Berlin site would be scheduled for the near future. According to Brandenburg Economic Minister Jörg Steinbach, the groundbreaking event will likely take place in the second half of March. The event is highly anticipated, especially considering that the Tesla CEO has already confirmed his attendance.

March is looking to be one of the busier months for Giga Berlin. On March 5, local citizens will have the opportunity to voice their concerns about the Giga Berlin site to local officials. On the 18th, the building permit for Giga Berlin is poised to be discussed by the Ministry of Economics.

Tesla ramps trenching work for power cables and infrastructure at German factory site

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Tesla rolls out “range update” for Model S, Model X to reflect improved efficiency


Tesla has begun to roll out a new “Range Boost” software update to Model S and Model X vehicles to more accurately display the vehicle’s range following recent efficiency updates.

The latest version 2020.4 firmware follows last month’s range increase for Model S and Model X. The Model S is now listed with a range of 390 miles, up from 373 miles, while the Model X has an EPA estimated range of 351 miles from 328 miles.

“Charging to 100% and I’m showing 354 miles. Stopping at 90% is putting me at 316,” noted Tesla owners and Redditor sudogreg.

Twitter user and Model X owner @noctechnolog corroborated the story about the range upgrade and shared a snapshot of his vehicle’s available range.

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The latest over-the-air update does not come as a surprise as Tesla CEO Elon Musk hinted that the range update for Model S and Model X vehicles would see an adjustment to reflect efficiency improvements being made.

“Software just thinks the car is less efficient than it actually is,” Musk further explained. He also mentioned that there have been several hardware improvements introduced to the vehicles in the past months.

While this recent update is more visual, giving the newer Model S and Model X a more accurate range displayed on the user interface, it’s important to take note of how Tesla can easily tweak the efficiency and performance of its vehicles via over-the-air (OTA) software updates. Such updates practically make its vehicles so much better as they age and clearly show its lead over legacy carmakers and their attempts to catch up with Tesla’s software and battery technologies.

On Monday, Tesla also started offering an Infotainment Upgrade for older Model S and Model X owners who are still on the first-generation Media Control Unit (MCU1). The $2,500-upgrade will equip the vehicle with newer MCU2 hardware and enable access to Netflix, YouTube, additional video streaming apps, and more Tesla Arcade games.

Tesla rolls out “range update” for Model S, Model X to reflect improved efficiency

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Top 10 Tesla Track Mode V2 features for the Model 3 Performance


The capabilities of Tesla’s newly-unveiled Track Mode V2 was demonstrated recently by a select group of car enthusiasts, one of them being the host of YouTube’s Vehicle Virgins channel. Following some time with a Model 3 Performance with Track Mode V2, host Parker Nirenstein listed the 10 best features of the upcoming update.

Tesla’s V2 Track Mode was announced on March 2 and it will introduce a variety of new features that foster better performance for Model 3 owners who have a taste for higher speeds and racecar-like handling. Expanding on the original Track Mode, V2 promises even more customization, control, and capabilities for drivers brave enough to tap into the raw power of a Model 3 Performance.

Following are Vehicle Virgins‘ Top 10 Track Mode V2 features.

1. Industry-Leading Visual Display

Credit: YouTube/Vehicle Virgins

Once Track Mode V2 is enabled, the Model 3’s center display changes to give drivers pertinent information for closed circuit driving. Instead of the typical driving visuals and trip stats featured in the Model 3’s screen, the Model 3 Performance’s display shifts to provide drivers with a clear visual of what is exactly happening with certain portions of the car while Track Mode V2 is engaged. Stats such as battery temperatures and tire temperatures are provided.

2. G-Force Meter

Credit: YouTube/Vehicle Virgins

Track Mode V2’s G-Force Meter gives live feedback of current measurements of the car’s current state. The meter also tracks past G-Force measurements from the most recent session. This allows drivers to see how much G-force was applied to each portion of the car during drifting or hot laps.

3. Post-Drive Cooling Feature

Tesla has included a Post-Drive Cooling feature to Track Mode V2, a feature that the Vehicle Virgins host stated is something that is being included today in actual track cars. This feature prevents excessive heat from damaging the battery and the Model 3’s other critical components. This will also decrease the wait time between runs, allowing Model 3 Performance owners to spend more time on the closed circuit and less time waiting for their vehicles to cooling down.

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4. Record Video Features

Track Mode V2 will now allow drivers to record recent runs using the vehicle’s built-in cameras that are used by Sentry Mode and Autopilot. Now, laps and drifting runs could be actively captured, allowing for playback of impressive lap times, or to show off a flawless drifting run around obstacles. Driving data from these videos can even be printed to give drivers the full rundown of their performance on the track.

5. Variable Power Splits

This makes the Dual Motor All-Wheel Drive vehicle capable of changing into a full Rear-Wheel-Drive or Front-Wheel-Drive car simply by toggling through settings on the Model 3 Performance’s center display. Nirenstein noted that the Model 3’s customization of this feature is much more impressive than his Lamborghini Huracan’s “Sport Mode,” which went all the way up to 90-10 in favor of Rear-Wheel Drive. The YouTube host also emphasized that the Model 3’s price is 10 times less than the Lamborghini’s, but he is much more impressed with the electric car’s feature.

6. Custom Track Settings

Custom settings could be named and perhaps even saved on the vehicle for specific tracks. This would allow drivers to get the optimum performance from their Model 3 Performance for each location or racing session that they will be attending.

7. 20 Stages of Traction Control

Track Mode V2 allows for 20 different settings of Traction Control for different driving experiences. Nirenstein stated that the AMG GTR became practically legendary due to its 9 different stages of traction control, but Tesla has actually more than doubled the number of options with 20 full stages. This, of course, provides Model 3 Performance drivers with an immense amount of control for their vehicle.

8. Regen only on the Rear Wheels

Track Mode V1 uses regen a lot to enable the Model 3 Performance to perform well on a closed circuit. Track Mode V2 takes this a step further, allowing owners to completely turn regen off, or only apply the braking system to the rear wheels exclusively in RWD mode. Experienced drivers and those who are proficient at drifting will likely take a liking to this capability.

9. Built-in Lap Timer with customizable start point and finish line

Credit: YouTube/Vehicle Virgins

By using the vehicle’s GPS, drivers can set a custom start and finish point that will then track lap times and speed based on the vehicle’s location. This feature will record multiple laps, allowing drivers to test different lines and speeds to improve performance.

10. Compressor Overclock

Credit: YouTube/Vehicle Virgins

Compressor Overclock runs the Model 3’s cooling compressor at an increased rate to inhibit faster battery and vehicle cooling, decreasing wait time between runs. The feature allows the compressor to run at a rate higher than normal, helping performance, but also increasing wear.

Each of these new features is demonstrated in Vehicle Virgins‘ new video, where host Parker Nirenstein demonstrated Track Mode V2’s capabilities. In addition to displaying the new functions Tesla has released with Track Mode V2, the video featured the new Model 3 Track Package recently released for the all-electric sedan. The package includes Zero-G Performance Wheels, race-focused brakes and brake fluid, and track-optimized tires.

Tesla has yet to set a date for when the free OTA update will roll out for Model 3 Performance owners. The Model 3 Track Package will begin shipping in April and it includes Zero-G Performance wheels, Michelin Pilot Sport Cup 2 tires, high-performance brake pads, track-focused brake fluid, center cups, pressure sensors, and lug nut covers. The package will cost $5,500.

Watch Vehicle Virgins‘  Track Mode V2 video below.

Top 10 Tesla Track Mode V2 features for the Model 3 Performance

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Tesla Model S and X resale value just got a massive boost


After a rather long wait, Tesla has announced that it will now begin offering MCU retrofit options for older vehicles built before the company rolled out its newer, faster infotainment unit. With this, Tesla has ensured that older Model S and X will retain, if not improve, their resale values, which are already quite impressive on their own right.

Tesla’s electric cars already boast good resale values, with a Forbes report noting that today, it is actually more practical to buy new Model S, Model X, and Model 3 instead of purchasing the electric vehicles second hand. This is because even older Teslas like the Model S 75D and the Model X 100D command a high price in the second hand market. Seemingly due to high demand, some Model 3 sold in the second hand market today are actually more expensive than a brand new car. 

It is pertinent to note that Teslas evolve much faster than the average vehicle. As noted by CEO Elon Musk, Teslas are pretty unique in the way that they receive incremental upgrades as soon as the improvements are ready to roll out. Thus, while the actual updates to the Model S and X are subtle, the number of optimizations that the company rolled out to the flagship vehicles over the years is actually very generous. 

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Among the most notable of these upgrades came in the form of a new infotainment system for the Model S and X that features a faster and smoother user experience. The differences between the features of Tesla’s MCU1, which is equipped with an NVIDIA Tegra-3 chip, and the company’s MCU2, which is fitted with a more powerful x86_64 processor, are subtle. However, later features such as the Tesla Arcade and Tesla Theater were compatible only with the newer, faster units. 

Elon Musk has been stating for some time that Tesla will be offering an infotainment system upgrade option for owners of vehicles that are still equipped with MCU1. Updates about the upgrade option were relatively far and between, until recently, when Tesla shared a blog post stating that MCU2 retrofits will be offered for $2,500 to interested buyers. Owners of older Model S and Model X who purchased Tesla’s Full Self-Driving suite are even given early access to the upgrade, together with a complimentary Hardware 3 retrofit. 

Once equipped with Tesla’s MCU2, older vehicles will gain full access to the company’s most recent features. This essentially updates MCU1-equipped Model S and X to such a degree that they are almost on par with the company’s newest vehicles. A Tesla Model X 75D with Full Self-Driving and an MCU1, for example, can be upgraded to a vehicle with Tesla Theater and the latest FSD preview visuals for $2,500. These improvements, of course, raises the value of Tesla’s older vehicles. 

In the second hand market, vehicles that command the best price are those in excellent condition and those that are equipped with an automaker’s latest technologies. For vehicles from legacy automakers, this usually means cars that are several years old are drastically lower in price than their brand new counterparts. Teslas also drop some of their value as they get older, but with the company’s MCU2 upgrade option, this process will likely take even longer. 

Tesla Model S and X resale value just got a massive boost

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Tesla (TSLA) rises amid new $1K price target, Outperform rating from Wall St


Tesla shares (NASDAQ: TSLA) spiked on Tuesday morning amidst an optimistic “outperform” rating and a new price target from investment firm JMP Securities. Analysts at JMP stated that Tesla’s stock will be bought cheaply by investors following a recent decline that was likely related to the coronavirus outbreak.

JMP’s new price target is $1,060 per share and is one of the highest among TSLA bulls. Analysts state that investors will be happy to buy TSLA stock at lower multiples as the company is growing at a compound annual rate of 23%, according to The Street.

Next year’s estimates from JMP have TSLA valued at nearly 20 times its forecasted earnings based on its possible production of 2 million vehicles per year by 2025.

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JMP analyst Joseph Osha explained the firm’s optimistic outlook on the electric car maker. “The recent market-driven pullback provides investors with a good opportunity to enter the stock in our opinion, and a perusal of offerings from competitors suggests that Tesla’s market position should continue to be dominant. Investors may find themselves with additional near-term opportunities to buy the stock as Tesla  works through the first half of 2020 and the impact of COVID-19 becomes apparent,” he wrote.

Osha added that revisions to JMP’s 2021 model for Tesla put the investment firm’s figures slightly above consensus. However, a look at the electric carmaker’s long-term potential for growth indicates the stock should be valued higher on the 2021 outlook than it currently is.

TSLA was one of many companies negatively affected by the coronavirus and it suffered a fall in its share price. TSLA stock is slowly climbing back up, though shares are still a bit far from its levels in early February, when it reached its highest point at $968.98.

Tesla also reported strong 2019 delivery numbers at the start of 2020, stating they had delivered over 112,000 vehicles in Q4. Over 92,000 of them were the Model 3, the company’s most affordable sedan. This first quarter, Tesla’s numbers seem poised to be augmented to some degree by the Model Y, which appear to be set for deliveries soon.

The spike in price target from JMP offers some comfort to those who hold TSLA stock. Although it has been a tough couple of weeks because of the threat of a potential coronavirus pandemic, TSLA may be on its way back up.

As of writing, TSLA stock is trading +4.96% at at $780.52 per share. 

Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.

Tesla (TSLA) rises amid new $1K price target, Outperform rating from Wall St

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var disqus_shortname = «teslarati»;
var disqus_title = «Tesla (TSLA) rises amid new $1K price target, Outperform rating from Wall St»;
var disqus_url = «https://www.teslarati.com/tesla-tsla-1k-price-target-outperform-rating-jmp/»;
var disqus_identifier = «teslarati-131960»;

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