LNG: TESLARATI

The New Street Research analyst who correctly predicted Tesla’s (NASDAQ:TSLA) rise to a $530 price target has once again raised the bar for the Silicon Valley-based automaker. Pierre Ferragu has increased the company’s price target from $530 to $800, stating Tesla’s industry-leading technology, demand, and execution as the reasons behind its increased anticipated value.

The company has seen a 22% increase in its price per share in 2020 alone. On Tuesday morning, TSLA stock price jumped by 5% to $536.20 in response to the price upgrade and amid signs that first deliveries of the Model Y crossover are imminent.

Ferragu predicted the company’s stock price would hit $530 per share in May 2018, citing Tesla’s increasing demand from consumers and dominance in the electric vehicle sector. The Elon Musk-led company has continued to improve the performance and range of its fleet of electric cars through technology advancements and frequent software updates, further broadening its appeal among car buyers.

The Model 3 was also released and began deliveries less than a year before the prediction and its overwhelming popularity was just another reason Ferragu felt the company’s stock would skyrocket.

1) We increased our $TSLA price target to $800 today. Worth noting, though, our initial target of $530 was set in 2018, so 2 years down the line, compounded 20% p.a., $800 is the right place to be. Not much has changed in our conviction!

— Pierre Ferragu (@p_ferragu) January 21, 2020

According to TheStreet, Tesla could sell around 20 million units in its “ultimate addressable market,” leaving room for growth that will help the company attain its $800 price point in the future.

Ferragu addressed his new price target in a note, stating Tesla will sell between two million and three million cars per year in 2025 and beyond. This would make Tesla’s market value somewhere between $230 billion and $350 billion or between $1,100 and $1,700 per share.

“The stock will remain volatile, as the spread between bull and bear cases remains wide,” Ferragu stated. “And God only knows what the next controversy will be.”

Tesla’s Q4 2019 earnings call is scheduled for January 29. As the company’s Model Y has received its CARB certification and VINs are registered on the NHTSA website, it appears that the car may see first deliveries ahead of its projected Summer 2020 delivery time.

But the Model Y will not be the only indicator of how the company will perform in the new year. Analysts have previously predicted that the performance of Gigafactory 3 in Shanghai will be a key indicator of Tesla’s success in the global market heading into 2020.

Based on Tesla’s successful Q4 delivery numbers and Model 3’s continued dominance in the luxury sedan category, Ferragu’s $800 price target isn’t as far-reaching as one might think.

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The Tesla Gigafactory 4 build site in Grunheide is now off-limits to local explorers as experts scan and clear the area for explosive ordnance.

“No Trespassing / Explosive Ordnance Clearance,” one of the signs in the forest reads in German. Tesla fan @Gf4Tesla who has been following the developments in Grunheide shared the news on Twitter. He added that he might resort to drone shots to update his followers about the latest GF4 news.

The Tesla board of directors recently approved the purchase agreement for the 300-hectare property where the first Tesla car factory in Europe will rise. This follows the approval of the Brandenburg Finance State Committee that sealed the deal for the purchase of the land for 40.91 million euros or about $45 million.

According to the spokesperson of the state government Florian Engels, Brandenburg authorities are still waiting for the independent report about the second appraisal of the expansive industrial property. Engels said that the report will be prepared as soon as possible and if the appraised value of the land deviates from the first assessment, the price of the Tesla GF4 property will be adjusted.

Okay, friends, the «Tesla Forest» is now – officially restricted area
🚷⛔🚫
I will have to specialize in flying drones, 🚁
because I am no longer allowed to enter the construction site..☹.

the sign means:
» no trespassing, / explosive ordnance clearance «🚨 pic.twitter.com/JyeqZCxRLW

— #Gf4 #Gigafactory4 (@Gf4Tesla) January 20, 2020

Sealing off the forest in Grunheide is a safety measure to avoid unwanted incidents as workers on the site have been building access roads for better logistics in the area. The team has also been searching for unexploded World War II explosives in the area, most likely American aviation bombs. In case vintage bombs are found, the German federal government will shoulder the cost of disposal.

Aside from the dangers of vintage bombs, Tesla is also closely coordinating with authorities and local environmental groups to move animals living in the forest such as a species of endangered bats, deers, wolves, ants, among others. The electric carmaker must be able to remove the trees in the parcel of land they will use for the first phase of construction by Feb. 27, just before the breeding season of birds in the area and when tree cutting will be prohibited.

The area has also been cordoned off and proper signs put up in the build site to make sure only authorized personnel move in the area. Members of local environment groups recently conducted forest walks to protest the building of the Tesla factory and it could be dangerous for anyone to roam around the forest that has not yet been cleared of vintage bombs.

To address the issues raised by locals, Tesla opened an information center in Grunheide and has promised to resolve issues within the legal framework.

Tesla plans to begin construction of the Gigfactory 4 facility by mid-March and start production by July next year. The car factory is set to generate about 8,000 jobs and produce roughly 150,000 cars during its initial phase.

H/T to @Gf4Tesla

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Tesla has put its foot down on claims that its vehicles are prone to sudden “unintended acceleration,” which was alleged in a petition to the NHTSA submitted by a short-seller. In a recently-published blog post, the electric car maker explained that claims of SUA are false simply because its cars are designed to accelerate only when they are told to do so. 

News recently broke that the National Highway Traffic Safety Administration is reviewing a petition claiming that all Tesla models are prone to SUA, and are therefore rife with a dangerous safety defect. The petition, which covers about 500,000 Teslas produced from 2013 to 2019, included 127 complaints that were submitted either by owners themselves, or others filing on their behalf.  

The petition was submitted by Brian Sparks, who happens to be shorting Tesla stock. This means that he is financially incentivized to help push TSLA prices down. Unfortunately for the short-seller, claims of SUA on Teslas have never really borne fruit, as the vehicle’s logs have always proven that “unintended acceleration” happened because the driver pressed the accelerator by mistake. 

And it’s not just Tesla that has defended its vehicles, either. Jason Hughes, a Tesla owner who has delved deep in the company’s software, and who has been critical of the company in the past, has gone on record offering a financial reward to anyone who can prove that a Tesla was involved in a sudden unintended acceleration incident. So far, no one has proven Hughes wrong yet, and he is confident enough to state that vehicle logs always show that SUA is simply not possible. 

These are the points Tesla outlined in its recent blog post. In a firmly-worded manner, the electric car maker stated that there is no “unintended acceleration” in its vehicles. The company also noted that it has worked with the agency to ensure that its vehicles are safe, and that it has reviewed claims of SUA with them. In every instance, vehicle logs proved that the electric cars functioned as intended. 

Following is Tesla’s blog post about the recent “unintended acceleration” claims. 

There is no “unintended acceleration” in Tesla vehicles

The Tesla Team – January 20, 2020

This petition is completely false and was brought by a Tesla short-seller. We investigate every single incident where the driver alleges to us that their vehicle accelerated contrary to their input, and in every case where we had the vehicle’s data, we confirmed that the car operated as designed. In other words, the car accelerates if, and only if, the driver told it to do so, and it slows or stops when the driver applies the brake.

While accidents caused by a mistaken press of the accelerator pedal have been alleged for nearly every make/model of vehicle on the road, the accelerator pedals in Model S, X and 3 vehicles have two independent position sensors, and if there is any error, the system defaults to cut off motor torque. Likewise, applying the brake pedal simultaneously with the accelerator pedal will override the accelerator pedal input and cut off motor torque, and regardless of the torque, sustained braking will stop the car. Unique to Tesla, we also use the Autopilot sensor suite to help distinguish potential pedal misapplications and cut torque to mitigate or prevent accidents when we’re confident the driver’s input was unintentional. Each system is independent and records data, so we can examine exactly what happened.

We are transparent with NHTSA, and routinely review customer complaints of unintended acceleration with them. Over the past several years, we discussed with NHTSA the majority of the complaints alleged in the petition. In every case we reviewed with them, the data proved the vehicle functioned properly.

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SpaceX has static fired a Falcon 9 barely 24 hours after its most recent launch and could launch a second mission with that rocket less than 24 hours from now. However, bad weather in the Atlantic Ocean – threatening the booster’s drone ship landing – could cause delays.

At 10:30 am EST (15:30 UTC) on January 19th, SpaceX threaded the needle through clouds, sea states, and winds to successfully launch a Falcon 9 rocket in support of Crew Dragon’s In-Flight Abort (IFA) test – flawlessly completed shortly after liftoff. A bit less than 28 hours after and 3.5 miles (5.5 km) south of Crew Dragon’s liftoff, a separate Falcon 9 rocket – complete another batch of 60 Starlink v1.0 satellites tucked inside its payload fairing – was fully loaded with liquid oxygen, refined kerosene propellant (RP-1), helium, and nitrogen in what is known as a Wet Dress Rehearsal (WDR).

About 35 minutes after that process began, Falcon 9 booster B1051 fired up its nine Merlin 1D engines for around 7-10 seconds – a routine static fire meant to verify the overall health of the booster and ensure its launch readiness. SpaceX rapidly confirmed that the static fire data looked good just a few minutes after booster shutdown, verifying that Falcon 9 is ready for its second Starlink satellite launch of 2020. Carrying the third batch of 60 upgraded Starlink v1.0 satellites, the mission – deemed Starlink V1 L3 – was most recently scheduled to launch no earlier than 11:59 am EST (16:59 UTC), January 21st. It appears, however, that weather in the Atlantic Ocean might trigger some minor delays.

Normally, SpaceX’s routine static fire confirmation tweet also includes the associated mission’s targeted launch date. This time around, SpaceX announced that it was still analyzing conditions and orbital mechanics to determine a launch window, uncertainty triggered by “extreme weather in the recovery area”.

Headed some 630 km (390 mi) downrange, drone ship Of Course I Still Love You (OCISLY) departed Port Canaveral for its Starlink V1 L3 booster recovery mission on January 17th. Meanwhile, twin SpaceX fairing recovery ships Ms. Tree (formerly Mr. Steven) and Ms. Chief made their own Port Canaveral departure on January 18th and are headed around 740 km (460 mi) downrange. SpaceX did not specify, so it’s possible that weather in both areas of the Atlantic Ocean are currently unfavorable.

Historically, the giant arms and nets that adorn SpaceX’s fairing recovery ships have been uniquely sensitive to even mildly rough seas, suffering repeated damage over the last year. At the same time, large swells and/or high winds also pose a big risk for any Falcon boosters attempting drone ship landings, as those boosters don’t actually account for the motion of the deck, instead assuming it will be at a certain position and aiming for that fixed bullseye.

As such, it’s sadly likely that SpaceX’s Starlink L3 launch will slip a bit later into the week, although there is certainly a chance that weather at the recovery zone will clear up in the next 12 or so hours. Stay tuned for updates!

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

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New regulations in the United Kingdom will make the act of “ICE-ing” a crime in the County of Lancashire in North West England. The adaptation of these new regulations will assist electric vehicle drivers when they are in need of a charge and a non-electric car is parked in their designated charging spot.

The proposed law by the Lancashire County Council’s cabinet will require all cars occupying electric vehicle spaces to be battery-powered and in the process of charging.

The county is already in the process of installing 150 charging stations across the area. Some of these charging stations are already fully operational. The addition of these charging points is part of Lancashire County’s attempts to become a more sustainable area and reduce its residents’ carbon footprint.

The already installed charging stations are located in on-street parking spaces that were previously spots for any vehicle. The county decided to designate some spaces for electric cars as the popularity of battery-powered vehicles continued to increase.

However, some motorists who were not driving electric cars were taking advantage of these empty spaces by parking there. This prompted action from the council members, who then approved the idea of penalties against parties who violated the parking privilege by not using the EV charging points.

The rise of electric vehicles caused Lancashire County Council members to adapt and change some of the parking rules and regulations that were in effect, making them more appropriate for the growing EV market. As the growth of the electric car industry has surged at an increasing rate, the council realized the new vehicle type needed to be catered to so drivers would have a less stressful time finding charging stations.

“Modern developments have outstripped the regulations and need addressing,” Lancashire County Council leader Geoff Driver said. The county is currently surveying areas where it would be suitable to install additional charging points. They are to be installed in areas that have “expected need, where an electric supply was sufficient and convenient to ensure the connection costs were financially viable, [and] had to be positioned so that they were clear of other electrical equipment, including lighting columns,” according to The Lancashire Post.

ICE-ing has been a particularly annoying and aggravating problem for electric vehicle drivers. While the act has been done in multiple countries, there are usually not many things electric car owners can do in the event that someone has parked in a designated charging spot. Fortunately for Lancashire’s electric vehicle owners, the new legislation may make owning an EV that much more convenient.

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One lucky Tesla owner had the rare opportunity to go inside a Model Y and give their account of how the interior of the all-electric crossover compares to their Model 3 sedan.

Michael Hughes, who goes by the handle @mickthughes on Twitter,  shared his experience with the Model Y after spotting it at the San Luis Obispo Supercharger station on the central coast of California. According to the Model 3 owner, the Tesla employee that was driving the Model Y allowed him to briefly explore the vehicle’s front and second-row seating.  “I got to sit in front passenger and back passenger seats,” noted Hughes, adding that the vehicle had an “amazing layout/storage space & seating.”

Model Y sighting second day in a row. Got to talk and see the entire inside (no pics by request). Car will be in Jay Leno show soon! Amazing layout/ storage space & seating. Got to sit in it. @Model3Owners @Teslarati @ElectrekCo @TeslaPodcast @thirdrowtesla @ModelYNews pic.twitter.com/2euhELzxg0

— Michael Hughes (@mickthughes) January 19, 2020

Hughes wasn’t able to snap photos of the Model Y’s interior upon the request of the Tesla employee but was able to share some interesting details about the crossover.

According to the Model 3 owner, the Model Y’s front looks very similar to the mass-produced sedan up close but the back clearly differed. Hughes also pointed out Model Y’s glass roof that no crossbeam, making for an expansive and unobstructed overhead view. The interior is far roomier than the Model 3 and its rear seats can accommodate three adult passengers comfortably, according to Hughes.

The storage of the Model Y is also bigger than that of the Model 3. The speakers have been moved to free more side storage. He also noticed that the seats can “power” fold with a press of a button.

A recent sighting of the Model Y next to a Model X revealed how the size of the crossover is surprisingly close to the Tesla SUV. The Model Y was almost as tall as the Model X, which has a standard height of 66 inches. The width of the two vehicles shows that the flagship SUV is larger than the Model Y but it appears Tesla was able to design the upcoming crossover to have a roomy interior despite sharing most of its DNA with the smaller Model 3 sedan.

The Tesla Model Y that Hughes checked out at the charging station did not have a third-row seat but he noticed a space that might be allotted for the optional configuration. Over the weekend, a Japanese blog posted a new photo of the Tesla Model Y third-row seats and there were also car seat rails that will allow occupants to adjust the second-row seats to provide comfortable legroom for the occupants at the rearmost passenger seats. With third-row seats, the Model Y will be able to accommodate seven passengers, perhaps a big advantage over its competitors such as the Audi Q5, BMW X3, and the Jaguar I-PACE that’s designed to seat five passengers.

Its huge. Seriously, not model X but completely different and open from my 3. There are two under storage compartments. A big one like model 3 just bigger and a second one!!!! But more for aesthetics than storage space but would fit briefcase, etc

— Michael Hughes (@mickthughes) January 19, 2020

The Model Y isn’t just a chunkier Model 3 and a smaller Model Y but it’s sounding that it will have a character of its own. The Tesla Model Y’s CARB certification was recently published, hinting that deliveries might come sooner than expected. Model Y production was initially planned to begin Summer 2020 but now expected to begin as early as this quarter.

The Model Y will be sold in three variants. The Rear-wheel Drive Long Range version will go for $48,000 while the Dual Motor All-Wheel Drive Long Range and Performance versions will sell for $52,000 and $62,000, respectively, before potential savings.

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