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Tesla Model 3 protects owner from high-speed crash that left gas-powered car in flames

Simon Alvarez

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Posted on March 27, 2019


A Tesla Model 3 owner recently shared a harrowing incident he experienced in a Los Angeles freeway late last year. As he was driving his electric car, the Model 3 owner heard the unmistakable sound of screeching brakes behind him. What followed was a violent crash that resulted in the vehicle that crashed into the electric sedan bursting into flame.

Recently relating his experiences recently to Tesla owner-enthusiast Vincent Yu, the Tesla owner noted that the other car, a Nissan Sentra, was traveling at high speed before it smashed into his Model 3. So massive was the impact that the Sentra’s front bumper ended up embedded on the electric car’s rear bumper. Amazingly, the Model 3 driver was able to escape from the accident with only a minor sprain. The electric car also proved remarkably durable, as its chassis and battery were undamaged.

The Nissan Sentra was not so fortunate. Its front end was totaled due to the collision, and it ended up burning in the middle of the highway. The driver of the Sentra survived the accident, though the person was wounded due to the impact.

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Since the Model 3 proved to be a tank of a vehicle, the Tesla owner was able to get the car repaired. The entire process lasted around three months, including one month spent waiting for OEM parts. The Model 3 only needed to have its trunk and some components replaced before it was perfect and roadworthy once more.

Apart from highlighting the durability of Tesla’s electric cars during collisions, the recently-related story of the fiery crash involving the Tesla Model 3 highlights the dangers inherent in vehicles equipped with the internal combustion engine. Negative connotations being spread around Tesla’s electric cars suggest that the vehicles are prone to bursting into flame during crashes, but the opposite is true. During an accident, a vehicle that is propelled by controlled explosions is more likely to catch fire than one that is powered by a battery pack.

This is something that was highlighted by National Transport Safety Board (NTSB) Survival Factors investigator Tom Barth, who noted previously that there is “no indication that Teslas are any more prone” to catch fire than any other vehicles on the road. Barth added that when severe crashes happen, any car, regardless of whether it is propelled by electricity or gasoline, has the potential to catch fire.

Tesla’s electric cars are among the safest vehicles currently on the road, with the Model 3 earning a flawless 5-star rating from the National Highway Traffic Safety Administration (NHTSA). Data from the NHTSA also lists the Model 3 as the car with the lowest probability of injury among all the vehicles it has tested, followed by the Model S and X.

Tesla Model 3 protects owner from high-speed crash that left gas-powered car in flames


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Tesla faces ‘excessive’ negativity, but analysts see silver lining for Model 3 deliveries

Simon Alvarez

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Posted on March 28, 2019


Tesla (NASDAQ:TSLA) might be facing a lot of negativity from its skeptics recently over concerns about the Model 3’s demand this quarter, but some TSLA bulls are seeing a silver lining. In a note published on Thursday, Baird analysts stated that the overly negative sentiments against the company today could play in the electric car maker’s favor when it releases its Q1 2019 vehicle delivery and production report.

The Baird analysts noted that even if Tesla’s deliveries fall below expectations for the first quarter, the bearish news is already priced in on TSLA’s current stock price. This could work as a “de-risking event” for the electric car maker’s shares, which could result in TSLA stock being driven higher following the company’s announcement.

“We are buyers into the release as we believe weak deliveries are priced into the stock and think the report could be a de-risking event. Management could provide an update on demand/backlog, which we believe would be positive for the stock. We think overly negative sentiment on demand could improve following the announcement, which should drive shares higher,” the analyst wrote.

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Baird has a conservative estimate for Model 3 deliveries for the first quarter. The analysts expect Tesla to deliver 50,000 Model 3 in Q1, slightly below market expectations. Analysts polled by FactSet are estimating that Tesla will deliver a total of 77,000 vehicles in the first quarter, 55,000 of which are Model 3.

The observations of the Baird analysts mirror those of Jefferies analyst Philippe Houchois, who observed in a note on Wednesday that there seems to be an “excessive” amount of negative media coverage against Tesla lately. In his note, Houchois stated that he expects a “modest” $50 million loss before interest, taxes, depreciation, and amortization in Q1, and that he sees a “high probability that Tesla can remain self-funded in the course of 2019.” The Jefferies analyst added that Tesla’s shares had gotten back to support levels that were last tested over the course of 2018, before the company started demonstrating its capability to turn a profit and exhibit a positive free cash flow.

The big question that will likely determine the performance of Tesla stock over the next few weeks is the number of Model 3 deliveries that the company has achieved this first quarter, which represents the first time that the electric sedan was delivered to foreign territories. While it is expected that deliveries in the United States will likely be down due to the Model 3’s international push, the numbers from Europe and China will determine if Tesla’s strategy is working or not.

As of writing, Tesla shares are trading +0.71% at $276.78.

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

Tesla faces ‘excessive’ negativity, but analysts see silver lining for Model 3 deliveries


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Tesla is one of the world’s Most Innovative Companies, says noted consulting firm

Simon Alvarez

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Posted on March 28, 2019


The Boston Consulting Group’s 13th annual report, which defines the world’s most innovative companies, has listed California-based electric car maker Tesla as 9th in its rankings. Tesla is the lone automaker that made the group’s Top 10 list, which is dominated by tech companies like Alphabet/Google, Amazon, and Apple.

The group’s full report, titled The Most Innovative Companies 2019: The Rise of AI, Platforms, and Ecosystems, paid particular attention to the use of artificial intelligence and other cutting-edge technologies in the companies that it ranked. A handful of automakers made BCG’s Top 50 rankings, though the group’s analysis concluded that none of Tesla’s more experienced competitors exhibited the same level of innovation over the past years.

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Tesla’s place in BCG’s list is understandable considering the company and Elon Musk’s push for the use of AI for both its vehicle production and in the features of its electric cars. This is particularly evident in Tesla’s strategy to achieve full self-driving, as it is bucking the trend by forgoing hardware solutions such as LiDAR and focusing instead on a process that primarily uses AI and cameras to navigate. Tesla’s AI-centric approach has resulted in notable improvements to its Autopilot driver-assist feature, as seen in recent updates such as Navigate on Autopilot and Enhanced Summon.

It is not surprising to see Tesla lead the pack among automakers when it comes to the use of bleeding-edge technology such as artificial intelligence, especially since the company is arguably the most tech-focused carmaker today. This is evident in the deep level of hardware and software integration in Tesla’s electric cars, which is something that other automakers are yet to adopt.

Tesla’s level of innovation over the past years as compared to other automakers. (Credit: Boston Consulting Group)

Traditional auto’s lack of experience in AI is something that was evident in Porsche’s strategy for the coming years. The pedigreed sports car maker is currently dipping its toes into artificial intelligence, though for now, AI is being used primarily for vehicle production. During the recently held annual press conference, the company’s executives were quite conservative when discussing AI as it will be used for its vehicles’ actual capabilities. Porsche is more of a low-volume, niche carmaker, though its AI strategy is likely reflective of the innovations being adopted by Volkswagen, its parent company (VW was ranked as 38th in BCG’s list).

Tesla’s strategy with AI seems to be more of a long-term play, and the past couple of years have been largely spent gathering data from its fleet and training its neural networks. Elon Musk has noted that Tesla’s Full Self-Driving suite will see the rollout of its new features this year, a feat that is only made possible by the company’s commitment to AI.

Boston Consulting Group, Inc. (BCG) is an American management consulting firm that was founded in 1963. BCG advises clients across private, public, and nonprofit organization sectors across the globe, including more than two-thirds of the Fortune 500. BCG is also known for the high bar it sets for applicants, with career review website Glassdoor ranking the firm as the 3rd most difficult company for interviews.

Tesla is one of the world’s Most Innovative Companies, says noted consulting firm


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Tesla rolls out Sentry Mode update for Model X and Model S

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Posted on March 28, 2019


Tesla’s Sentry Mode has finally arrived for Model X and Model S owners under version 2019.8.3. The all-electric car maker’s latest security offering was released first for Model 3 vehicles, and an image posted by Model X owner u/frank_datank_ on Reddit confirms the feature has been expanded to the all-electric SUV.

Sentry Mode was recently launched by Tesla via over-the-air updates to improve and complement the existing security features and options for its vehicles such as GPS tracking and the Enhanced Anti-Theft Device cabin motion sensor. When activated, the owner is alerted via the Tesla mobile app, video footage is recorded, and in the event of an intrusion, full-volume music is played to attract attention to the car.

A picture of the Model X Sentry Mode display can be seen below. The only difference apparent between the it and the Model 3 version is that the driver’s display is also turned on along with the center touchscreen, something likely to be corrected in future software updates.

Tesla Model X with Sentry Mode activated. | Credit: u/frank_datank_/Reddit
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Sentry Mode is a robust security system utilizing Tesla vehicles’ suite of sensors, lights, and speakers to not only provide enhanced vehicle safety, but to address the serious issue of targeted break-ins. A rise in theft reports by Tesla owners over the last year led to the suspicion that the vehicles were being selected due to the highly valuable content left inside, especially in the San Francisco Bay Area. The California-manufactured electric cars had a particular weak spot enticing the activity — the rear quarter window — which eventually led to the launch of Sentry Mode.

The serious nature of Tesla’s latest security feature was still significantly influenced by the company’s fun-loving CEO Elon Musk. As an avid science fiction and pop culture fan, Musk had a HAL-9000 Easter Egg included as part of Sentry Mode’s functionality in tribute to the villainous artificial intelligence system featured in the movie 2001: A Space Odyssey. When Sentry Mode is turned on, the Tesla center touchscreen displays the famed computer, complete with its ominous red “eye.”

Additionally, the decision for Sentry Mode to play Bach’s Toccata and Fugue in D Minor at full volume after detecting an intrusion is also keeping with Musk’s goal of making Tesla’s “the most fun thing (people) could possibly ever buy.” Both Sentry Mode and its alarm’s musical selection were announced by Musk via Twitter.

Sentry Mode’s arrival in the Model X and Model S is a welcome one even if its theft events aren’t as common as Tesla’s sedans. The feature additionally helps identify and mitigate other security issues such as hit and run incidents. Once a vehicle enters the “Alarm” state following event detection, owners receive an alert from their Tesla mobile app after which a video beginning 10 minutes prior to the event can be downloaded. Tesla also rolled out the ability to send Sentry Mode’s footage to company servers for temporary backup, ensuring video capture even if thieves manage to remove the external USB used to save footage during a robbery.

Here’s a video of Sentry Mode for the Model S and Model X.

Tesla rolls out Sentry Mode update for Model X and Model S


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First look at Tesla’s Autosteer Stop Light Warning for Autopilot in action

Simon Alvarez

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Posted on March 28, 2019


A series of videos from the Tesla community has provided a first look at how the electric car maker’s new Autosteer Stop Light Warning feature works in real-world settings. The safety feature is being rolled out by the electric car maker with 2019.8.3 and is available for customers who have purchased Tesla’s Autopilot driver-assist feature.

Tesla’s Autosteer Stop Light Warning provides an audible and visual warning that alerts drivers to take over the vehicle if a red light is detected. While these warnings are very noticeable, some instances recorded by the Tesla owners showed the safety feature not activating despite their electric cars approaching a stop light. This is understandable considering that Stop Light Warning is a very new feature, and it is all but certain that the capability will only improve as Tesla rolls out more over-the-air updates.

It should be pointed out that Tesla lists Stop Light Warning under Autosteer, which is currently listed under the company’s $3,000 basic Autopilot package. This means that even owners who do not purchase Tesla’s $5,000 Full Self-Driving suite will be able to take advantage of the Stop Light Warning capability, highlighting the company’s tendency to introduce safety systems to its vehicles proactively. This is notable since the Insurance Institute for Highway Safety has noted that injuries attributed to red light running have affected over 137,000 people in recent years.

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Much like other features like Navigate on Autopilot, Tesla asserted in its recent release notes that Autosteer Stop Light Warning is not intended to replace a fully-attentive driver. Instead, it is only designed to make the driving experience easier. “Your car may warn you in some cases if it detects that you are about to run a red light while Autosteer is in use. This is not a substitute for an attentive driver and will not stop the car,” Tesla wrote.

As Tesla works to develop its Full Self-Driving suite, abilities such as Autosteer’s Stop Light Warning are only bound to get better. With the apparent rollout of Hardware 3, a custom solution specifically designed to make full self-driving possible, the idea of Tesla’s electric cars stopping on their own when approaching a red light is not too farfetched.

This was hinted at by Elon Musk in a tweet last December, when he noted that Tesla is “already testing traffic lights, stop signs, and roundabouts in development software.” In his tweet, Musk added that with such features in place, the time would soon come when Teslas can “go from your garage at home to parking at work with no driver input at all.” For now, the company continues to introduce new driver-assist features that will form part of its Full Self-Driving suite, such as no-confirmation Navigate on Autopilot and Enhanced Summon, which are already being tested to the first batch of Tesla owners today.

Watch Autosteer Stop Light Warning in action in the videos below.

First look at Tesla’s Autosteer Stop Light Warning for Autopilot in action


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Tales from Dandelion customers: geothermal heating, cooling, and energy independence

Simon Alvarez

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Posted on March 29, 2019


Behind every installation of a Dandelion geothermal heating and air conditioning unit is a story. These stories are different for each customer, but each tale involves a notable common factor — a move towards gaining independence from fossil fuels. Here are a couple of stories from Dandelion customers who turned to geothermal solutions, and never looked back.

The Engineer

An aerial view of Matthew VanDerlofske’s home, which is fitted with solar panels. (Photo: Dandelion Energy)

When software engineer Matthew VanDerlofske came across Dandelion Energy’s heating and air conditioning system, he realized that it was the perfect way to help his family step away from fossil fuels. For VanDerlofske, a key reason behind his adoption of Dandelion’s geothermal solutions is the savings offered by the system.

During the gas spike in 2008 and 2009, the software engineer admitted that his family was budgeting $600 in gas per month for their SUVs alone. They were also spending $1,600 worth of oil per year for heating, on top of 15 megawatts of electricity per year from the grid. Eventually, VanDerlofske and his family realized that it was time to “start weaning ourselves off fossil fuels.”

The family started in 2012, investing $6,700 to have 32 solar panels installed on their roof. They also traded in one of their gas-guzzling SUVs for a Chevy Volt. Later, the family added an additional 24 solar panels, allowing them to produce more power than they consume. The family also acquired a Chevy Bolt, their first all-electric car. VanDerlofske and his wife regarded Dandelion’s geothermal heating and air conditioning system as the next step in their pursuit of energy independence, as it allowed them to get all their heating and air conditioning needs from the ground.

The Environmentalists

Paul and Joanne Coons’ historic home in Clifton Park, NY. (Photo: Dandelion Energy)

Dandelion Energy customers Paul and Joanne Coons have always been passionate about the environment. At one point, Joanne, a high school environmental science teacher, took it upon herself to make her own biodiesel from restaurant waste, which she used on her diesel car. Together with her husband, she also experimented with burning home-brewed biodiesel at home, in order to help offset their house’s $4,500 annual heating cost.

The couple completely embraced the energy-independent lifestyle after they took on the task of renovating a dilapidated, historic house in Clifton Park, NY. The home, which had no buyers due to its condition, was transformed by the couple into one of the most energy-efficient homes in the country. Since then, the house has won several green building awards, and it has become certified as a LEED Platinum and NAHB Certified Green Building Emerald home.

To make their historic home energy independent, the Coons opted to install an array of rooftop and pole-mounted solar panels, which they use to help power the house and charge their Nissan Leaf and Toyota Prius Hybrid. The couple, who also has a reservation for the Tesla Model 3, also opted to have a Dandelion Air unit installed for heating and air conditioning. Referring to their biodiesel-brewing days, Paul stated that ground source heat pumps are the best of both worlds, since “you can heat and cool your home with the power of the sun, and you don’t have to keep fueling the system.” 

Ultimately, customers who are already committing to sustainable energy through rooftop solar solutions can’t go wrong with a geothermal heating and air conditioning system. Read more about Dandelion Energy’s geothermal systems here.

Tales from Dandelion customers: geothermal heating, cooling, and energy independence


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Rivian R1T pickup truck’s aerodynamics in focus in latest teaser video

Simon Alvarez

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Posted on March 27, 2019


Rivian’s new teaser for its all-electric R1T pickup truck focuses on the upcoming luxury adventure vehicle’s aerodynamics, which resulted from countless hours dedicated by the company’s aerodynamicists, designers, engineers, and sculptors. The result of all these efforts is a truck that is tough, sleek, and capable of going 400-miles between charges.

The short video provides what could be described as a behind-the-scenes look at some of the work that went behind the creation and design of the R1T pickup. Much care was taken by the company to ensure that the vehicle’s aerodynamics optimizes range, which is incredibly important for an electric truck like the R1T, which is designed for both utility and luxury.

Rivian impressed the electric car industry by unveiling two nearly production-ready vehicles late 2018 following numerous years of operating in stealth mode. Together with the R1T pickup truck was the R1S SUV, a seven-seater utility vehicle that is also designed to be as comfortable off the beaten path as it is on paved roads. Both the R1S and the R1T are equipped with four electric motors that allow the vehicles to accelerate from 0-60 mph in 3 seconds. Both vehicles also boast up to 400 miles of range.

(Credit: Rivian)
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While the R1T and the R1S are already impressive when they were unveiled, recent patents from Rivian suggest that the company is still working consistently to improve the vehicles. Patent applications from the company show that Rivian is working on an auxiliary battery pack that can push the range of its vehicles beyond 400 miles between charges, as well as swappable components that could optimize the R1T pickup truck for specific tasks.

Rivian CEO RJ Scaringe noted in a previous interview that the R1T is aimed towards buyers that spend “$70,000 or $80,000 on a GMC Denali or a Chevy Suburban or a Land Rover Discovery or a fully loaded Ford F150.” With this goal in mind, the CEO stated that the company would come up with a version of its 180 kWh, 400-mile range truck that is priced below $90,000.

Rivian recently sent out exclusive invitations for its reservation holders for a private viewing of its vehicles this April before the NY Auto Show. Similar to the R1T’s unveiling last year, the upcoming event is expected to be posh, with reservation holders being served cocktails and hors d’oeuvres while enjoying a meet-and-greet with the company’s CEO and several individuals involved in the creation of the R1T and R1S.

Watch Rivian’s latest teaser for the R1T in the video below.

Rivian R1T pickup truck’s aerodynamics in focus in latest teaser video


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Tesla showcases Model S and Model 3’s stellar handling in Winter Experience event

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Posted on March 27, 2019


Tesla has awarded a few lucky owners with a trip to Kemi, Finland to experience the high-performance capabilities of the Model S and Model 3 vehicles for its “Winter Experience 2019” event. A video shared by one of the winners gives a first look at the perks enjoyed by the event’s attendees.

Several Model S and Model 3 in the video are seen parked outside what may be the Kemi SnowCastle, a hotel built from snow and ice annually in Finland, where Tesla’s guests were treated to a special dinner as part of their Winter Experience package. The all-electric sedans are also seen swerving through obstacle courses and taking laps around an ice track with a professional driver.

The winners of Tesla’s winter event were provided with complimentary travel, accommodation, and food during their trip. The main event, however, was the ice track demonstration of the vehicles’ all-wheel-drive handling in winter conditions and Tesla’s Track Mode feature exclusive to the Model 3 Performance.

Tesla’s Winter Experience 2019. | Credit: Danni Efraim

Tesla’s Winter Experience 2019. | Credit: Danni Efraim

Tesla’s Winter Experience 2019. | Credit: Danni Efraim

Tesla’s Winter Experience 2019. | Credit: Danni Efraim
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Tesla’s all-wheel-drive electric cars are equipped with several features to enhance overall winter driving performance, primarily due to the enhanced traction provided by digital torque control in the front and rear wheels. This is prominent in the Model 3 Performance’s Track Mode, which features increased regenerative braking, track-focused powertrain cooling, and enhanced cornering to provide a full track-centered experience that maximizes the driver’s control during high-speed maneuvers.

The Winter Experience 2019 event comes amid Tesla’s continuous push to saturate the European midsize sedan market with the Model 3. Recent activity indicates the California-based car maker is anticipating a massive influx for the Model 3 Standard and Standard Plus versions which were launched earlier this month in the US. The $35,000 version of the electric vehicle is estimated to reach European markets in about 6 months.

Model 3 owners who didn’t make it to Tesla’s Winter Experience 2019 event can still find other events for Model 3 Track Mode experience. A Tesla-exclusive racetrack event called Tesla Corsa is currently on its third round and is set to take place on March 31st at Buttonwillow Raceway Park in California. The event’s organizers aim to give Tesla owners the opportunity to experience the all-electric performance benefits of their vehicles in a safe, controlled environment.

Tesla recently set a personal record for total number of combined vehicle sales in Norway, a country that could definitely benefit from the company’s vehicles’ winter features. Over 2,500 Model S, Model X, and Model 3 sold in the first three weeks of March this year, topping a previous record set in December 2017 when the electric car maker registered 2,461 Model S and Model X after a strong year-end push. Around 88% of all Tesla March registrations in Norway have been for the Model 3, a stat that certainly looks to be a nod to its winter capabilities.

Watch the video shared by Danni Efraim below for highlights from Tesla’s Winter Experience 2019 below.

Tesla showcases Model S and Model 3’s stellar handling in Winter Experience event


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Tesla (TSLA) shows recovery amid $450 price target, ‘Buy’ rating from Jefferies analysts

Simon Alvarez

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Posted on March 27, 2019


Tesla stock (NASDAQ:TSLA) is showing some signs of recovery on Wednesday as it received an optimistic $450 price target from Jefferies Financial Group. The new vote of confidence comes amidst Tesla’s efforts to push the Model 3 to Europe, China, and the United States during the final days of the first quarter.

A research report issued by Jefferies’ equities research analysts to the firm’s clients on Wednesday points to a potential upside of over 68% from the stock’s $260.42 closing price on Tuesday. The researchers currently have a “Buy” rating on the electric car maker.

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Tesla’s shares have proven volatile this month, following the company’s launch of the $35,000 Model 3, the debut of the Model Y, and headwinds from Elon Musk’s ongoing row with the Securities and Exchange Commission. RBC analyst Joseph Spak recently cut his price target for Tesla shares to $210 each in a note on Monday, citing what he believed was “meager demand” for the Model 3. Even Oppenheimer technical analyst Ari Wald noted that he does not recommend Tesla stock as  “Buy,” even if the company could see a 40% upside in the future.

While reservations about Tesla’s performance this first quarter are understandable (Elon Musk himself noted that the company would probably not be profitable this quarter), concerns over the company’s capability to sell its vehicles might be overblown. Part of the current bear thesis against Tesla is the declining number of electric car deliveries in the United States, which could be explained by the company’s focus on Europe and China this Q1 2019.

As the final days of the first quarter trickle down, things appear to be settling down for Tesla. Apart from Jefferies’ recent vote of confidence, Elon Musk’s row with the SEC could also see a resolution within the next few weeks, with US District Judge Alison Nathan giving a date to hear oral arguments from the CEO’s legal team and the agency on April 4, 2019.

Tesla is going all-hands-on-deck to deliver as many vehicles as it can before the end of the month, as revealed in a leaked email from Elon Musk to the company’s employees. In the message, Musk urged Tesla’s workers to focus on delivering electric cars, with the CEO stating that the company should aim to deliver 30,000 vehicles in the final two weeks of March.

As of writing, Tesla shares are trading +1.59% at $272.04.

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

Tesla (TSLA) shows recovery amid $450 price target, ‘Buy’ rating from Jefferies analysts


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Tesla’s new chairman stands behind Elon Musk’s Twitter use: ‘He uses it wisely’

Simon Alvarez

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Posted on March 27, 2019


Tesla Chairman Robyn Denholm is speaking out in support of CEO Elon Musk and his polarizing Twitter use. In a rare interview, the new chair of Tesla’s board of directors defended Musk, stating that from her point of view, the CEO’s behavior on Twitter has been satisfactory.

“Twitter is part of everyday business for many executives today. From my perspective, he uses it wisely,” she said.

Denholm’s comments about the Tesla CEO followed a speech at the American Chamber of Commerce in Sydney, Australia on Wednesday. Addressing the ongoing issue between Elon Musk and the Securities and Exchange Commission, Denholm noted that she believes Tesla has been doing its best to comply with the terms of last year’s settlement with the agency.

“We believe we’ve done everything that we need to do under the settlement, but obviously it’s going to the court and it will go from there. I don’t think he poses any challenges. The company is running very well, and the board itself is very engaged. We meet with him all the time,” she added.

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The new Tesla chair was appointed by the company last November following Elon Musk and the SEC’s settlement over the CEO’s now-infamous “funding secured” tweet, which resulted in a short-lived attempt to take the company private. As part of the agreement, Musk agreed to relinquish his position as chairman of Tesla’s board of directors.

Denholm, a member of the company’s board since 2014, was selected as Musk’s replacement, though she has largely remained under the radar until her recent comments. Denholm is still serving as the chief financial officer of Australian telecom firm Telstra, a position she is set to relinquish on May 6. She is expected serve as Tesla’s Chairman on a full-time basis after.

Denholm’s words of support for Elon Musk comes amidst the CEO and the SEC’s ongoing skirmish. The SEC has argued that Musk must be held in contempt over a tweet posted last February 19 which stated that Tesla would make “around 500k cars” this year. The figure echoed Musk’s statements from the Q4 2018 earnings call last January, but the CEO nonetheless explained in a follow-up tweet that the 500k estimate would be true for Tesla’s annualized run rate.

The SEC has claimed that the Twitter post violates Musk’s settlement last September, which demanded that tweets with material information to Tesla shareholders must go through a review process before they are posted. Musk’s legal team countered that the CEO’s estimates in the February 19 tweet are not material information at all, since the estimated figures have been made public since the fourth quarter earnings call.

Tesla’s new chairman stands behind Elon Musk’s Twitter use: ‘He uses it wisely’


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