Tesla Model 3 navigates roundabout on its own using Smart Summon


Roundabouts aren’t always the easiest to navigate for human drivers, but one Tesla Model 3 was able to successfully go through one using its Smart Summon feature.

The host of YouTube channel All Electric wanted to see how his Model 3 would perform at navigating a roundabout using only Smart Summon. His Model 3, which had Tesla’s 2019.40.50.7 update installed, was able to make its way around the circular junction with minimum hiccups.

As the All Electric host pointed out, his Model 3 was able to enter the roundabout smoothly, while going at 5 mph and slowing down in some parts of the maneuver, before carefully exiting to reach its intended target location.

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Tesla’s Smart Summon is a feature that allows users to remotely operate their Tesla from a parking spot to a designated location using their vehicles’ Full Self-Driving suite. The feature still requires users to be within 200 feet of their car, and uses the vehicles’ system of cameras, radar, and ultrasonic sensors to get around obstacles. Smart Summon is a step closer to Tesla CEO Elon Musk’s vision of deploying a fleet of autonomous vehicles.

Smart Summon has received plenty of improvements since it was released in September last year as part of the V10 update. The feature has also been put to the test many times, most recently proving that it can drive through a torrential downpour to rescue a family, navigate an intense obstacle course, and take its owner through a drive-thru restaurant.

With full backing from regulatory bodies, Tesla will likely be able to remove the 200-feet restriction on Smart Summon and allow users to call their cars from greater distances. CEO Elon Musk once even mentioned using Summon to call vehicles from across the country. Ultimately, Smart Summon may be a small feature for now, but it will play a central role in the deployment of self-driving Robotaxis.

Musk revealed further details for his vision of an autonomous ride-sharing program during Tesla’s Autonomy Day last year. Musk said he hoped to get the Tesla Network’s Robotaxi service running by 2020.

Watch All Electric‘s latest Smart Summon test in the video below.

Tesla Model 3 navigates roundabout on its own using Smart Summon

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Ron Baron has $1B in Tesla stock and says it’s far from over: ‘I’d buy more’


Tesla (NASDAQ:TSLA) could hit $1 trillion in revenue by 2030 according to Ron Baron, a Billionaire investor who runs New York City-based Baron Capital and Baron Funds.

Baron Capital currently holds 1.63 million shares of Tesla stock, and they have no plans to sell any of it.

Baron appeared on CNBC’s “Squawk Box” Tuesday morning where he stated Tesla’s potential is limitless. He believes that Tesla is nowhere near finished its meteoric rise in price. “There’s a lot of growth opportunities from that plant going forward,” he said. “[Tesla] could be one of the largest companies in the whole world.”

Tesla stock was priced at $430.26 on 2020’s first day of trading on January 2. The stock has exploded since then, rising nearly 20% in a single day on February 3rd and nearly doubling its value this year alone.

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Baron’s decision to invest $357 million into Tesla in 2014 has paid dividends. His 1.63 million shares now have a value of $1.467 billion. But his reasoning for backing Tesla and becoming one of the company’s most successful bulls had to do with Musk’s vision for the world.

“Whether Elon Musk is successful or not I am really glad to have invested in this company because I’m helping–this guy is saving the Earth,” Baron said about the Tesla CEO. “Brilliant guy, great businessman, and saving the planet.”

Musk’s drive to create environmentally-friendly vehicles has been an astounding success, but not everyone is a believer.

Senior Research Analyst Craig Irwin from Roth Capital spoke about his $350 price target that was accompanied by a sell rating on Squawk Box. “Reality is going to set-in” for the Silicon Valley-based electric car company, he said. While he believes it is a good company with a solid financial plan, he states traditional automakers will begin developing vehicles that can compete with Tesla’s battery technology and performance. “This is a company that will see decelerating sales.”

Meanwhile, Baron continues to remain confident in Tesla and states he will not make any moves when it comes to the company’s holdings. In fact, he said that if it were completely up to him, Baron Capital would buy more.

Tesla is coming off an extremely positive Q4 2019 earnings report where the company reported $7.38 billion in revenue and deliveries of 112,000 vehicles in the last three months of the year. The company also announced that its upcoming all-electric crossover Tesla Model Y is ahead of schedule, citing improved production efficiency as the reason for its early rollout of the car.

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

Ron Baron has $1B in Tesla stock and says it’s far from over: ‘I’d buy more’

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Tesla’s biggest bull stands firm on TSLA, gets 6,000% gains from options bets


No one could ever accuse ARK Invest CEO Cathie Wood of being a Tesla (NASDAQ:TSLA) bull who does not walk the walk. Being one of Tesla’s most prominent supporters, Wood is deep into her investment with the electric car maker, and this shows in ARK Invest’s TSLA holdings. Wood’s conviction has also paid off, with the ARK CEO netting a 6,000% gain from TSLA options bets that she personally made last year. 

Wood noted in a statement to Benzinga that her strategy is quite simple: when something does not make sense, she takes action. Last year, that exact circumstance happened. Tesla shares dropped to the $170 to $180 per share despite the company improving its Model 3 production output and Elon Musk becoming more tempered on Twitter. During this time, Wood stated that she believed auto the industry did not really understand Tesla fully. The whole scenario presented a unique opportunity for ARK. 

Eventually, ARK could not purchase any more TSLA shares because the firm had already reached its 10% cap with the company. Realizing the existing opportunity, Wood opted to take action herself, buying TSLA call options for her personal account. This was a risky move on the ARK CEO’s part, as options require a stock to move a specific price point at a set expiration date. 

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Wood ended up purchasing January 21 $460 calls when they were trading between $5 and $10. And amidst Tesla’s monster bull run that saw the stock end Monday’s trading at an all-time high of $780 per share, these very same contracts are now trading at about $327. With this, Wood’s trade has potentially generated more than 6,000% worth of returns. 

Wood remains as bullish as ever on TSLA stock, especially in the long-term. In a statement, she noted the Tesla still has room to grow, and the company is poised to fend off competition from more experienced rivals, some of which are expected to be released within the next few years. 

“This is an exponential growth stock, growth company. And we’ve lived in a linear growth world for so long, with the law of large numbers pulling growth rates down, that people find it hard to understand what exponential growth is. Last year when the Tesla killers came out, Audi, Taycan, and Jaguar, when they came out, you know, that’s right in their category. And Tesla’s market share of the electric vehicle market went up, not down. It went up to 18%,” Wood said.

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

Tesla’s biggest bull stands firm on TSLA, gets 6,000% gains from options bets

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Tesla’s monster bull run continues as TSLA soars past $880 in Tuesday pre-market


Tesla’s (NASDAQ:TSLA) monster rally, which saw the electric car maker end Monday’s trading with a 19.89% gain at $780 per share, is not showing any signs of stopping. During Tuesday’s pre-market, Tesla shares actually touched the $900 per share level, a new record for the electric car maker.

This is incredibly remarkable for a company that, just a few quarters ago, was trading at around $180 per share. During that time, Tesla critics and short-sellers were dominating the narrative, and many alleged that the Silicon Valley-based electric car maker was at a terminal decline. It may be strange today, but the narrative then was that Tesla had a serious problem for its vehicles, and Model 3 sales are about to tank across the globe. 

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The opposite proved to be true, of course. Following a surprise profit in the third quarter of 2019, Tesla shares recovered and started a massive bull run that continues well into this day. Tesla Model 3 sales also remained strong across multiple regions. Over this time, Tesla shares broke through several barriers, including the once-famed $420 stock price quoted by CEO Elon Musk during his short-lived attempt to take Tesla private back in 2018. 

Things only accelerated when Tesla posted profits for Q4 2019, with the company registering $7.38 billion in revenue and earnings per share of $2.14, beating the Street’s estimates. This new milestone, which was augmented by recent breakthroughs such as the start of local Made-in-China Model 3 production and deliveries in Giga Shanghai, only helped push TSLA stock further, culminating in Monday’s massive 19.89% surge. 

What is rather remarkable is that according to S3 Partners Managing Director of Predictive Analytics Ihor Dusaniwsky, Tesla actually remains heavily shorted. Despite an accumulated loss of over $21 billion since Tesla went public, short-sellers appear to be holding on and doubling down on their positions. This means that inasmuch as Tesla’s stock has risen drastically, a real short squeeze, which would involve mass numbers of short-sellers being forced out of their positions, is yet to happen. 

Tesla stock is being backed by some serious momentum. Apart from the start of local Model 3 deliveries in China from its Giga Shanghai facility, the company’s Model Y program has also been accelerated, with the crossover now expected to begin deliveries in the next few months. This is far earlier than the company’s initial estimates, which listed the Model Y’s deliveries to start in late 2020 instead. Tesla’s battery partner Panasonic has also posted its first quarterly profit from its business with the electric car maker, ultimately curbing speculations that the relationship of the American company and the Japanese firm were in rocky waters. 

With an hour to go before markets open, Tesla stock is trading up 13.44% at $884.84 during Tuesday’s pre-market.

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

Tesla’s monster bull run continues as TSLA soars past $880 in Tuesday pre-market

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Tesla to utilize micro maps for pothole-detection in future update


Elon Musk confirmed a future update will allow Tesla vehicles to create micro maps of roads that will help owners avoid potholes or other changes in the environment that are not available in conventional maps. The micro maps created from data collected by its fleet will be shared with fellow Tesla owners when they drive along the same road.

Reto Siegrist from Switzerland asked the Tesla CEO on Twitter about the possibility of adding the micro map feature to which Musk replied with a simple, “Yes.” Potholes can be big headaches for Tesla owners because they can cause serious accidents, damage tires and rims, which need repairs that can instantly burn through a few thousand dollars.

According to TRIP, a national transportation research non-profit group, about a third of major urban roads in the United States have pavements that are in substandard condition. Driving on such deteriorated roads cost motorists around $130 billion.

“Drivers are paying a hefty price for our nation’s crumbling roads and bridges. Those traveling daily through urban cities bear the weight of the problem – with many wasting thousands of dollars each year on rising transportation costs due to pot holes and wasted fuel,” said Kathleen Bower, AAA senior vice president of public affairs and international relations

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Elon Musk has previously mentioned an anti-pothole feature that will allow Autopilot to safely avoid potholes without the need for driver input. This micro map shared among Tesla vehicles on the road will be a welcome addition to the anti-pothole feature.

Detecting potholes can actually be challenging because unlike other obstacles, they are depressions on the road and may present differently depending on the current weather and lighting condition. In an ideal situation, the camera of Tesla’s electric car can determine a pothole by comparing the surface irregularity with the rest of the road and the texture inside the pothole compared to nearby pavement.

Tesla shared how its team is making progress in terms of developing its Full Self-Driving capabilities.

“…in terms of labeling, labeling with video in all eight cameras simultaneously. This is a really, I mean in terms of labeling efficiency, arguably like a three order of magnitude improvement in labeling efficiency,” Musk said.

The detection of potholes and the ability to seamlessly negotiate such obstacles on the road will be one big step for Tesla’s dream of having a fleet of truly autonomous cars. The ability of each car to share this information with other Teslas is also making most of the technology to make roads safer for everyone.

“Our networks learn from the most complicated and diverse scenarios in the world, iteratively sourced from our fleet of nearly 1M vehicles in real-time. A full build of Autopilot neural networks involves 48 networks that take 70,000 GPU hours to train. Together, they output 1,000 distinct tensors (predictions) at each timestep,” Tesla wrote to describe how its Autopilot neural networks work.

Elon Musk is also making sure that Tesla can accelerate further development of its FSD and Autopilot and will host an AI party at his house in a few weeks’ time. During the said event, Musk is hoping to find new talents to join Tesla and make functional applications out of the data available to the company.

Tesla to utilize micro maps for pothole-detection in future update

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Ford Mach-E frunk is perfect for chowders and chicken wings, and we’re not even joking


The Ford Mustang Mach-E is the legacy automaker’s answer to Tesla and specifically, the Model Y. Being a crossover, the Mach-E is designed for fun and utility, and this is shown in its cool storage spaces, such as its frunk.

But if recent images of the upcoming all-electric crossover are any indication, it appears that the vehicle’s frunk may not just be useful for transporting items and the occasional cooler. It will also be perfect for holding savory snacks and cold beverages for tailgate parties.

The Mach-E’s frunk has just shy of five feet of cubic storage. This may not be as large as the space offered by the frunk of, say, a Tesla Model X or a Rivian R1T, but there’s plenty of room for chicken wings and shrimp paired with cocktail sauce.

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In a press release from Ford after the Super Bowl, the automaker stated there are four ways football fans could use the Mach-E’s frunk for storing food at sporting events. But arguably the most interesting way the company claims the frunk can be used is to hold 1,000 regular sized chicken wings.

In reality, it is unlikely that people will pack the inside of their frunk with soup or cocktail shrimp. The only likely scenario is that ice could be used in the absence of a cooler to keep drinks or containers of food chilled. It will be a bit tricky to clean the frunk of grease when the chicken wings are cleared out, after all, and watery dishes like chowder are probably a universal no-no for would-be frunk-gaters.

Not to mention that fresh food and things like windshield washer fluid probably don’t mix very well either.

It seems the aim of many automakers was to try and market their electric vehicles during this year’s big game between the Kansas City Chiefs and San Francisco 49ers. GMC unveiled its first look at its all-electric Hummer in a commercial featuring Lakers superstar LeBron James. Porsche also took a shot at reaching out to those who watched on television by releasing a rather expensively-shot commercial displaying the Taycan.

Ford’s attempt at showing its unique use for its new vehicle’s frunk was certainly unorthodox and different than anyone probably expected. It will be interesting to see how many Mach-E owners actually use their frunks as chicken wing and shrimp cooler when the crossover is delivered to reservation holders later this year.

Ford Mach-E frunk is perfect for chowders and chicken wings, and we’re not even joking

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SpaceX’s workhorse rocket is almost halfway to reaching ambitious reusability goals


Thanks to a recent cluster of major milestones, SpaceX’s family of Falcon 9 and Heavy rockets are rapidly nearing the halfway point along the path to several ambitious goals for booster and fairing reusability.

Back in the early 2010s, SpaceX’s CEO Elon Musk’s original dream was to make Falcon 9 and Falcon Heavy 100% reusable, meaning that the company would need to find ways to reliably recover boosters (first stages), payload fairings (or Dragon spacecraft), and the rocket’s upper (second) stages. The concept of Falcon 9 second stage reuse actually survived all the way into 2018 before Musk ultimately conceded defeat, accepting that Falcon 9 and Heavy simply didn’t offer the performance necessary to make full reusability a worthwhile investment. The concept, however, still lives on in SpaceX’s next-generation Starship launch vehicle.

This does mean Falcon rockets will never be fully reusable, but it’s still up to SpaceX to decide how far they’ll push the envelope with the rockets’ existing reusable hardware. At the moment, it appears that a vast majority of Falcon rockets will be able to be routinely recovered and reused, capitalizing on the fact that Falcon 9 and Falcon Heavy boosters already represent some 50-75% of the cost of building each two-stage rocket. While Falcon upper stages and Dragon trunks will never be reused, both booster and payload fairing reuse are rapidly approaching their own unique halfway points on the path to ambitious reusability targets.

SpaceX’s twin fairing recovery ships are effectively 50% of the way to enabling full Falcon fairing reusability. (Richard Angle)
SpaceX’s upgraded Falcon Block 5 boosters, meanwhile, are rapidly approaching the halfway point to a major reusability milestone. (Richard Angle)
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Shortly after SpaceX’s January 29th Starlink V1 L3 launch, carrying the third batch of 60 upgraded v1.0 satellites to orbit, twin fairing recovery ships GO Ms. Tree (formerly Mr. Steven) and Ms. Chief teamed up for their second-ever simultaneous fairing catch attempt. Ms. Chief – only active since November 2019 – reportedly just barely missed her first successful catch, while Ms. Tree managed to snag one of the Falcon 9 fairing halves in her massive net – the ship’s third successful catch.

Worth an estimated $3M per half according to CEO Elon Musk, Falcon 9’s payload fairing represents approximately 10% of the rocket’s total manufacturing cost. Made out of a carbon fiber and aluminum honeycomb composite material, fairings also also takes a disproportionate amount of time and space to produce – primarily due to their large size (a school bus could comfortably fit inside a fairing) and the need for commensurately large curing ovens. That composite honeycomb structure also makes it relatively easy for Falcon payload fairings to suffer from corrosion when dunked in seawater, leading SpaceX to the seemingly bizarre solution of installing giant arms and nets on ships.

Ms. Chief has yet to make her first fairing ‘catch’ but the ship still managed to safely retrieve one of Starlink V1 L3’s fairing halves from the ocean. (Richard Angle)
Ms. Tree (formerly Mr. Steven), however, nailed her third fairing catch ever, following successes in June and August 2019. (Richard Angle)

Catching fairings has proven to be incredibly unforgiving, however, and SpaceX has simultaneously worked to make its Falcon fairings much more waterproof (and thus resistant to corrosion) while keeping them as light as possible. In fact, SpaceX’s first fairing reuse occurred less than three months ago and used two halves that previously landed in the Atlantic Ocean, demonstrating that difficulties reliably catching fairings will not stand in the way of reuse.

Ms. Chief missed her January 29th catch attempt, she still managed to fish her fairing half out of the ocean, while Ms. Tree’s successfully-caught half means that SpaceX ultimately recovered the full Starlink V1 L3 fairing. With a little luck, that recovered fairing will launch again in the near future.

Five for 5

Simultaneously, SpaceX is making excellent progress along the path to airliner-like rocket reusability. In November 2019, on the same Starlink mission that debuted flight-proven fairings, Falcon 9 booster B1048 became the first SpaceX rocket to launch (and land) four times. Less than two months later, Falcon 9 B1049 doubled down on that reusability milestone, becoming the second booster to launch and land four times, followed by Falcon 9 B1046 just 12 days later. Falcon 9 B1046 was (intentionally) destroyed after its fourth launch, precluding a fourth landing attempt, but it emphasizes just how confident SpaceX is in Falcon 9’s Block 5 upgrade.

Falcon 9 booster B1048. (Pauline Acalin, SpaceX, Tom Cross, Richard Angle – Teslarati)

Designed to allow each Falcon 9 and Heavy booster to perform a minimum of 10 launches and landings, the Block 5 upgrade is potentially just a few weeks away from reaching the halfway point along the path to that ambitious reusability design goal. Speaking at the NASA Kennedy Space Center earlier this month, a SpaceX engineer recently revealed that a Falcon 9 booster would conduct its fifth launch in support of a Starlink mission (either Starlink V1 L4 or L5) scheduled no earlier than (NET) mid-to-late February.

Pictured above, Falcon 9 booster B1048 – the first to launch four times – is the likeliest candidate for the first fifth flight of a SpaceX rocket. If the booster’s reuse goes as planned, it’s safe to say that Falcon 9 B1049.4 will follow closely on the heels of its predecessor with its own fifth-flight milestone. All things considered, SpaceX’s workhorse rocket is rapidly approaching the zenith of its theoretically-achievable reusability.

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

SpaceX’s workhorse rocket is almost halfway to reaching ambitious reusability goals

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Tesla is now more valuable than Volkswagen and BMW combined


Tesla stock closed at a record-high of $780 per share on Monday, pushing the California-based electric carmaker’s valuation to $140.591 billion and above the market cap of Volkswagen and BMW combined. Tesla’s latest record-setting valuation further solidifies the Elon Musk-led company’s position among legacy automakers, eclipsing Volkswagen’s market cap of $90.672 billion and BMW’s $45.894 billion.

Earlier this month, Tesla overtook Volkswagen as the second most valuable carmaker in the world. The latest valuation widens the gap between the two manufacturers to roughly $50 billion on Monday.

Wall Street’s prediction on the further upside of TSLA gave the price some boost. Argus Research upped its price target for the electric carmaker to $808 from $556 citing revenue growth from Model S and Model X and the strong demand for the Model 3.

“Despite past production delays, parts shortages, labor cost overruns and other difficulties, we expect Tesla to benefit from its dominant position in the electric vehicle industry and to improve performance in 2020 and beyond,” said Argus Research analyst Bill Selesky.

ARK Investment Management also updated its valuation model and believes the stock could hit $7,000 per share or even a best-case scenario of $15,000 by 2024.

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For Gene Munster, managing partner of Loup Ventures and a known Tesla Bull, he attributes the bright future of Tesla to its head start against automotive giants with deeper pockets.

“The thesis for Tesla’s business miracle is rooted in the handful of years that the company operated with effectively no competition. Tesla has nearly a decade head start in EVs as other automakers under-invested in the space,” Munster said.

Tesla has a commanding presence in the mid-luxury sedan market that’s wreaked havoc on BMW and Mercedes Benz who have both been slow in delivering a viable electric vehicle for the everyday consumer. With Tesla’s investment into fun yet useful over-the-air features that have been otherwise foreign to traditional automakers, the company will continue to see unparalleled growth in the industry.

Tesla chief Elon Musk will host an AI hackathon party at his house to accelerate the development of Tesla’s full self-driving capability and Autopilot feature, and most likely fish for new talents to join the company.

Tesla will start the delivery of the Model Y this March, way ahead of schedule. The much-awaited crossover also has an updated EPA range of 315 miles from the original rating of 280 miles.

The Silicon Valley-based carmaker is also getting closer to laying the first bricks of its first factory in Europe, Giga Berlin. It also recently applied for subsidies for its battery cell production in Grunheide, which will help keep costs optimal. In China, Tesla’s factory is offline at the moment due to the ongoing novel coronavirus pandemic but Tesla China is continuing its push and answers questions from potential customers via social media.

If Tesla keeps on track and execute flawlessly, we can only expect to see analysts and the automotive world get more bullish and the long-term expectations of skyrocketing stock prices will highly likely come true.

As for the short sellers, losses amounted to $2.5 billion on Monday or about $8 billion since the start of 2020, according to data power company S3 Partners.

Tesla is now more valuable than Volkswagen and BMW combined

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Tesla Model Y with white seats spotted in the wild for the first time


A Tesla Model Y Performance prototype with white seats was spotted in a Los Angeles parking garage over the weekend.

All sightings of Tesla’s upcoming all-electric crossover thus far have been with the standard black interior. This most recent sighting gives Model Y pre-order reservation holders a first-hand look of how the vehicle may appear with Tesla’s all-vegan white interior.

In the series of photos posted on the r/TeslaMotors subreddit by u/lastnamethai, the Model Y appears production-ready and with subtle modifications to its body style since the vehicle was first spotted outside of the company’s factory in Fremont, California last year.

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The newest Model Y sighting joins numerous other sightings that have taken place on public roads across the US, and another on Tesla’s factory test track. In some instances, test vehicles have been outfitted with calibration instruments.

In Tesla’s Q4 2019 earnings update, the company credits Model 3 production improvements for helping fine-tune the production of the Model Y. The two vehicles share nearly 75% of the same parts, making for an easier transition to Model Y production which began in Fremont earlier this year.

The Model Y has also received benefits from Tesla’s continually improving engineering processes. The company announced that the EPA upgraded its range on its AWD variants of the vehicle from 280 to 315 miles. “This extends Model Y’s lead as the most energy-efficient electric SUV in the world,” the company stated.

As of now, the Model Y is available for purchase in two variants. The Long Range Dual Motor and Performance variants will both have an EPA-rated range of 315 miles and cost $52,990, and $60,990 respectively. Tesla Model Y first deliveries will begin by the end of Q1 2020.

Tesla Model Y with white seats spotted in the wild for the first time

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Tesla taps into Chinese TikTok for social media-based sales and customer support


Tesla may have temporarily shut down its electric vehicle factory in Shanghai due to the coronavirus outbreak, but the electric car company has taken to other channels to reach its enthusiastic market in China. More specifically, Tesla is using Douyin, China’s version of TikTok, to push knowledge-based content with the goal of driving more sales and deliver customer support to new and existing Tesla owners.

A tweet posted by Tesla owner and electric car enthusiast @Ray4Tesla shows Tesla stores in China are conducting livestreams that put the spotlight on Tesla vehicles and their features. Each store has its own account to stream videos that cover a variety of topics that are of interest to its customers.

For instance, the Tesla Experience Center in Changsha is conducting live-streamed tours of the Model 3, followed by a Q&A call that allows potential buyers to interact directly with the sales representatives. Other broadcasts include tutorials to inform new buyers of charging and how to use Tesla’s Autopilot driving-assist feature, testimonials from the first Made-in-China Model 3 owners, and demonstrations of Tesla vehicles undergoing energy consumption tests.

Allan Wang, General Manager at Tesla China, has posted a comprehensive schedule of livestreams by each Tesla store on his Weibo page.

Tesla China General Manager Allan Wang posts schedule of Douyin livestreams. (Credit: Allan-Tesla via Weibo)

Tesla may have struggled with customer service in the US, but the all-electric car company seems to be making sure it doesn’t make the same mistakes in China. Considering China is the largest electric vehicle market in the world, it only makes sense for Tesla to turn to powerful yet severely underused social media channels that allow it to provide a more personalized level of service to a new base of customers.

Douyin, the Chinese version of video app TikTok, is one of the most popular social media apps in China. In its annual earnings report, Douyin parent company ByteDance announced that the app has grown to 400 million active users every day in 2019, up from 250 million daily active users at the beginning of last year. Marketing research firm eMarketer also said that Douyin’s growth outpaces that of earlier players Weibo and WeChat.

Douyin’s claim to fame is its emphasis on knowledge-based content, which it says is the most consumed type of content on its app in 2019. It’s also the largest mobile social network in China, with 67.9 percent of Chinese social network users actively on Douyin.  The potential for using Douyin is huge, as it allows Tesla to provide educational broadcasts and reach a broad swath of the Chinese market for free while providing customers a closer look at Tesla’s products and company values.

No doubt, Shanghai-based Tesla competitor Nio recognizes Douyin as a sales and customer service tool, having taken a page out of Tesla’s playbook and creating its own Douyin accounts as well.

Tesla taps into Chinese TikTok for social media-based sales and customer support

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