TSLA Jan 2021 260.000 call

OPR - OPR Delayed price. Currency in USD
0.00 (0.00%)
As of 3:26PM EDT. Market open.
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Previous close230.55
Expiry date2021-01-15
Day's range230.55 - 230.55
Contract rangeN/A
Open interestN/A
  • Bloomberg

    Tesla Is Nearing Debut of Longer Range China-Made Model 3

    (Bloomberg) -- Tesla Inc. plans to expand its lineup in China by offering a locally built Model 3 sedan with a longer driving range from as early as this week, according to people familiar with the matter.The vehicle would have a range of more than 650 kilometers (404 miles) on one charge, compared with about 450 kilometers for the current most basic version that starts at 323,800 yuan ($45,800), the people said, asking not to be identified as the information isn’t public. The variant would start at about 350,000 yuan before rebates, though exact pricing has yet to be decided, they said.A longer range could help Tesla fend off competition from the likes of Volkswagen AG and BMW AG, who are also bringing out new electrified models in China. Carmakers are betting on new vehicles to spur demand in a market hit hard by the coronavirus pandemic.The longer-range Model 3, like the existing cheaper version, would qualify for electric-vehicle subsidies and is exempt from China’s car purchase tax.Tesla representatives didn’t immediately respond to requests for comment.Registrations of Tesla vehicles have fallen for two consecutive months in China, showing the U.S. carmaker isn’t immune to the broader auto-industry slump. The slowdown has come amid Tesla’s multibillion-dollar push to expand in the world’s biggest electric-vehicle market.Yet Tesla’s factory in China has recovered from a virus-related shutdown better than many in the industry, helped by aid from local authorities. After resuming operations on Feb. 10, the Shanghai plant -- Tesla’s only outside the U.S. -- has surpassed the capacity it had before the shutdown, reaching a weekly production of 3,000 cars, the company said last month.(Updates with rival offerings in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • U.S. Deaths Top 10,000; Possible Plateau in N.Y.: Virus Update

    U.S. Deaths Top 10,000; Possible Plateau in N.Y.: Virus Update

    (Bloomberg) -- More signs emerged that the crisis may be easing in some areas, sending stocks soaring. Italy, France, Germany and Spain reported lower numbers of new cases. In New York, Governor Andrew Cuomo said deaths were showing indications of hitting a plateau. U.K. deaths slowed for a second day, even as they passed the grim milestone of 5,000. Prime Minister Boris Johnson, who was hospitalized Sunday after 10 days in isolation, was moved to an intensive-care unit.JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he expects a major economic downturn and stress similar to the crisis that almost brought down the U.S. financial system in 2008.Japanese Prime Minister Shinzo Abe said he’ll propose a state of emergency in some prefectures.Key Developments:Global cases top 1.3 million; deaths exceed 73,000: Johns HopkinsU.S. deaths surpass 10,000: Johns HopkinsTrump, Biden spoke by phone about the outbreakMilken Conference postponed a second time to OctoberDenmark, Austria began to relax measuresNew York state lockdown extended to April 29Denmark Joins Austria in Easing Curbs (4:38 p.m. NY)Denmark joined Austria in announcing a gradual relaxation of measures imposed to slow the coronavirus’s spread. The country will press ahead with a “cautious reopening” starting with kindergartens and primary schools on April 15 if the virus numbers remain stable, Prime Minister Mette Frederiksen said. The government will also start talks with business leaders on gradually moving employees back into offices.Austria said earlier that it would take its first steps toward restarting its economy. The two countries were among the first in Europe to shut down public life in response to the outbreak. Wisconsin Governor Delays Tuesday Primary (3:15 p.m. NY)Wisconsin Governor Tony Evers suspended in-person voting just hours before the state’s primary was scheduled to begin, though the order could be subject to a court challenge.Although 15 states and Puerto Rico have already postponed their primaries amid the coronavirus pandemic, Wisconsin’s Republican-controlled legislature has rejected requests by Evers, a Democrat, to delay the state’s in-person voting on Tuesday.Evers’s executive order delays in-person voting until June 9 unless the legislature acts to change it.French Cases Leveling Off (1:50 p.m. NY)France reported a continued leveling-off of cases, signaling that confinement measures are starting to contain the crisis.The country had 3,912 new confirmed cases on Monday, fewer than it reported in five out of the past seven days, according to figures presented by Health Minister Olivier Veran. Deaths from the virus rose by 833 to 8,911, Veran said.“The pressure is still very great on hospitals, enormous -- the confinement has to continue,” Veran said. Still, he said there was some reason for optimism. “We can see that the confinement has a palpable effect in France, we’re starting to feel it.”Read more hereWHO May Announce Move This Week to Accelerate Vaccine (1:30 p.m. NY)A new program to accelerate vaccine development and production may be announced this week, World Health Organization Director-General Tedros Adhanom Ghebreyesus said at a press briefing in Geneva.“The difficulty for governments right now is that lockdowns are proving effective in dampening the flames of the epidemic in those countries, but those lockdowns are also causing great economic hardship,” said Mike Ryan, head of the WHO’s health emergencies program. Still, he said it would probably be “very inadvisable” to lift a lockdown completely all at once.“Once you raise the lockdown, you have to have an alternative method to suppress the virus -- active case finding, testing, isolation, tracking of contacts and strong community education,” Ryan said.N.Y. Deaths May Signal Possible Plateau (1:10 p.m. NY)New York Governor Andrew Cuomo said deaths from the coronavirus pandemic were showing signs of hitting a plateau in the state that has become the epicenter of the U.S. outbreak.The challenge, he cautioned Monday, is to maintain the social distancing that has finally pointed New York toward a possible peak in fatalities. For a second day in a row, the percentage increase in the death toll was less than 10%, a turnabout from numbers about twice as large barely a week ago.The peak of the outbreak could fall on the earlier side of the state’s models showing that it could take anywhere from a week to 30 days for the situation to hit its worse.“I get that people are cooped up,” Cuomo said in his daily press briefing. “But, we get reckless, we change and we’re not compliant on social distancing, you’ll see those numbers go up again.”He doubled the fine for social-distancing violations to $1,000.Italy’s New Virus Infections Lowest in Almost Three Weeks (12:20 p.m. NY)Italy reported the lowest number of new coronavirus infections in nearly three weeks, prompting debate over how and when the country should start emerging from a nationwide lockdown.Civil protection authorities reported 3,599 new cases of the disease on Monday, compared with 4,316 a day earlier. Italy registered 636 new deaths linked to the virus, compared with 525 the day before. That brings the total number of fatalities to 16,523.Italy, once the epicenter for Europe, now has fewer cases than Spain and the U.S.California to Send Ventilators to National Stockpile (12:16 p.m. NY)California, which has yet to see its hospitals overrun by patients, plans to loan 500 state-owned ventilators to the national stockpile.“We’re aggressively preparing for a surge -- but we can’t turn our backs on Americans whose lives depend on having a ventilator now,” Governor Gavin Newsom said in a statement.With the New York area experiencing a supply shortage, other states are stepping in to assist. New York Governor Andrew Cuomo said this weekend that Oregon offered to send 140 ventilators to his state.Merkel Says Too Soon to Ease Lockdown (11:43 a.m. NY)It’s too early for Germany to set a date for easing its lockdown, Chancellor Angela Merkel said, holding her first press conference since returning from 12 days of self-confinement after being exposed to Covid-19.She reiterated her support for the use of the European Stability Mechanism and the European Commission’s proposal for job protection, and said the continent will need a plan for reconstruction after the pandemic subsides.At least three tests showed she was free of the virus.Philippines Likely to Extend Lockdown (11:43 a.m. NY)Philippine President Rodrigo Duterte said he’s inclined to extend a lockdown of more than half the country’s population on its main island until April 30 to further stem the coronavirus outbreak.Duterte, in an address late Monday, also said he’s considering tweaking this year’s 4.1 trillion-peso ($80.8 billion) budget to allocate more funds to virus response, as some 200 billion pesos set aside for cash grants to poor families won’t be enough.Israel Cuts Rates for First Time Since 2015 (9:33 a.m. NY)The Bank of Israel shifted course by cutting interest rates and adding new market-based tools. After playing down the potential for cheaper borrowing costs, the monetary committee on Monday reduced the key rate back down to the all-time low of 0.1% from 0.25%.Hong Kong Extends Ban on Nonresident Entry (9:22 a.m. NY)The city’s airport will also continue to halt all transit services until further notice, according to a government statement. The original rules were set to expire by April 7.Germany Plans ‘Limitless’ Aid Program for Small Companies (8:44 a.m. NY)German Chancellor Angela Merkel’s government announced a new “limitless” aid program for small- and medium-sized companies. The program for loan guarantees is the latest measure introduced by the government, which says Europe’s largest economy might contract even more this year than the 5% drop caused by the global financial crisis in 2008 and 2009.Inovio Begins Phase 1 Human Trial of Vaccine (8:41 a.m. NY)Inovio Pharmaceuticals Inc. began a phase 1 human trial of its Covid-19 vaccine, INO-4800. Animal studies show promising immune responses, the company said.Glaxo to Develop Covid-19 Drugs in $250 Million Partnership (8:14 a.m.)U.K. pharmaceutical giant GlaxoSmithKline Plc is joining dozens of companies in the hunt for therapies to treat the illness caused by the coronavirus, signing a partnership with Vir Biotechnology Inc. and agreeing to invest $250 million in the U.S. company.South Africa’s Economy May Shrink as Much as 4%, Central Bank Says (8:09 a.m. NY)South Africa’s economy could contract by 2% to 4% this year due to the coronavirus pandemic and measures to curb its spread, according to the Reserve Bank. The monetary policy committee projected in March that the economy will contract by 0.2%.U.K. PM Johnson Had ‘Comfortable Night’ and Is in ‘Good Spirits’ (8:07 a.m. NY)Prime Minister Johnson is in “good spirits” after spending a “comfortable” night in St. Thomas’s hospital in central London, his spokesman, James Slack, said on Monday. Johnson went to the hospital on Sunday as a “precaution,” he said.Mass Layoffs Push Canada’s Consumer Confidence to All-Time Low (8:00 a.m. NY)The Bloomberg Nanos Canadian Confidence Index, a composite gauge based on a telephone survey of households, declined sharply for a third week as extensive lock downs triggered mass layoffs. The aggregate index dropped to 42.7 last week, the lowest reading since polling began in 2008.Romania to Extend State of Emergency Until Mid-May (7:53 a.m. NY)Romanian President Klaus Iohannis said that he plans to extend the state of emergency over the crisis by another month because “we haven’t reached the peak of the epidemic, so it’s not time to relax.”Netherlands Has Slowest Death Growth in Week (7:40 a.m. NY)The Netherlands reported 101 new fatalities, the smallest increase since March 30. Total reported cases rose 5% to 18,803. An additional 260 patients were admitted to hospitals, according to the RIVM National Institute for Public Health and the Environment.China to Strengthen Transport Control Measures Along Borders (7:15 a.m. NY)China will tighten quarantines in border areas, following a meeting chaired by Premier Li Keqiang. The number of confirmed coronavirus cases found in people who arrived through a land border has surpassed those that came by air.Dimon Sees ‘Bad Recession’ and Echoes of 2008 Crisis Ahead (7:11 a.m. NY)“At a minimum, we assume that it will include a bad recession combined with some kind of financial stress similar to the global financial crisis of 2008,” the CEO said Monday in his annual letter to shareholders. “Our bank cannot be immune to the effects of this kind of stress.”Nigeria to Borrow $6.9 Billion to Offset Virus Impact on Economy (7:03 a.m. NY)The government plans to raise as much as $6.9 billion from multilateral lenders to offset the impact of the pandemic. The state will seek $3.4 billion from the International Monetary Fund, $2.5 billion from the World Bank and a further $1 billion from the African Development Bank, Finance Minister Zainab Ahmed told reporters Monday.French Firms Have Requested Guarantees for EU20 Billion of Loans (6:58 p.m. NY)French Finance Minister Bruno Le Maire said 100,000 companies requested government loan guarantees for a total of 20 billion euros ($21.6 billion). In addition, more than 500,000 small companies have requested aid from France’s solidarity fund.Redhill Announces First Covid-19 Patient Treated With Opaganib (6:19 a.m. NY)RedHill Biopharma said the first patient with a confirmed coronavirus diagnosis was dosed with opaganib in Israel, and additional patients are expected to be treated in the coming days. Pre-clinical data demonstrated anti-viral effects in other viruses, anti-inflammatory activities and the potential to reduce lung inflammation, the company said.Hungary Announces Virus Stimulus Plan of Up to 20% of GDP (6:17 a.m. NY)Hungary’s government will pay some-private sector wages, offer loan guarantees and boost spending on infrastructure and pensions as part of a major fiscal stimulus plan aimed at averting a recession and mass unemployment as the coronavirus pummels the economy. The package, valued at 18% to 20% of gross domestic product including planned stimulus from the central bank, will also see the 2020 budget deficit rise to 2.7% of GDP from 1%, Prime Minister Viktor Orban said on Monday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Auto Stock Roundup: TSLA Q1 Deliveries, KMX Earnings & Other Updates

    Auto Stock Roundup: TSLA Q1 Deliveries, KMX Earnings & Other Updates

    While most of the automakers are reeling under the effects of COVID-19 pandemic, Tesla's (TSLA) Q1 deliveries remain robust and CarMax (KMX) posts a comprehensive beat in fourth-quarter fiscal 2020.

  • Tesla (TSLA) Q1 Deliveries Impress Despite Coronavirus Crisis

    Tesla (TSLA) Q1 Deliveries Impress Despite Coronavirus Crisis

    Tesla's (TSLA) Model S/X division records production and delivery volume of 15,390 and 12,200 vehicles, respectively, in Q1.

  • Tesla Shows Ventilator Prototype Made From Car Components

    Tesla Shows Ventilator Prototype Made From Car Components

    (Bloomberg) -- Tesla Inc. engineers showed footage of a prototype ventilator the company is trying to make with auto parts amid a shortage of the machines for coronavirus patients.According to the video on Tesla’s YouTube channel, the design includes a touch screen, computer and control system from a Model 3 electric car. Tesla is taking advantage of components that are familiar, reliable and available, an engineer says in the video.Click here to see the videoNew York Governor Andrew Cuomo, among those urgently trying to source more ventilators, said Sunday that supply-chain disruption is the biggest hurdle for every manufacturer, including Tesla.“Their timeframe frankly doesn’t work for our immediate apex,“ he said at a press conference. “Nobody can make you a ventilator right now in two weeks. You can’t make ventilators that fast because there are parts that have to come from other countries.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Tesla engineers show ventilator prototype on YouTube

    Tesla engineers show ventilator prototype on YouTube

    Engineers at Tesla Inc showed a prototype for a ventilator on Sunday evening in a video published on the company's YouTube channel, as hospitals around the country overwhelmed by coronavirus patients face device shortages. The design for the ventilators relies heavily on Tesla car parts, one of the engineers said, enabling the company to redeploy existing stock and produce the devices quickly. The video comes two weeks after Chief Executive Elon Musk said Tesla planned to reopen its New York factory to produce ventilators.

  • Tesla cuts contractors from California, Nevada factories - CNBC

    Tesla cuts contractors from California, Nevada factories - CNBC

    The electric carmaker is axing contractors at both its vehicle assembly plant in Fremont, California, and at its Gigafactory outside of Reno, Nevada, according to the CNBC report https://cnb.cx/2UZf5EH. "It is with my deepest regret that I must inform you that the Tesla factory shutdown has been extended due to the COVID-19 pandemic, and as a result, Tesla has requested to end all contract assignments effective immediately," Balance Staffing, a workforce management company, said in a memo sighted by CNBC.

  • Tesla cuts contractors from California, Nevada factories: CNBC

    Tesla cuts contractors from California, Nevada factories: CNBC

    The electric carmaker is axing contractors at both its vehicle assembly plant in Fremont, California, and at its Gigafactory outside of Reno, Nevada, according to the CNBC report https://cnb.cx/2UZf5EH. "It is with my deepest regret that I must inform you that the Tesla factory shutdown has been extended due to the COVID-19 pandemic, and as a result, Tesla has requested to end all contract assignments effective immediately," Balance Staffing, a workforce management company, said in a memo sighted by CNBC.

  • Reuters - UK Focus

    US STOCKS-Wall Street falls as coronavirus cuts into U.S. payrolls

    Wall Street's main indexes fell on Friday as the coronavirus abruptly ended a record U.S. job growth streak of 113 months, leaving little doubt that the economy is in a recession. The survey considered data only until mid-March, before widespread U.S. lockdowns put more people out of work. While relatively flat volatility indexes suggested that investors getting used to market swings, Mike Turvey, TD Ameritrade's institutional senior trading strategist sees institutional investors taking a shorter term view with many still very cautious ahead of the weekend market close.

  • ETFs to Ride High on Tesla's Robust Q1 Delivery Numbers

    ETFs to Ride High on Tesla's Robust Q1 Delivery Numbers

    The solid deliveries data has put the spotlight on ETFs having substantial allocation to the luxury carmaker.

  • Tesla Vehicle Deliveries Beat Estimates, Spark Stock Rally

    Tesla Vehicle Deliveries Beat Estimates, Spark Stock Rally

    (Bloomberg) -- Tesla Inc. reported early-year deliveries fell less than expected from record levels reached late last year, sending shares climbing as much as 13%.Tesla handed over 88,400 vehicles worldwide in the first quarter, down 21% from the last three months of 2019. But the total, released Thursday, beat analysts’ average estimate for about 78,100. The carmaker’s stock traded up 10% to $500.03 as of 9:48 a.m. Friday in New York.“I’m shocked they did so well,” Gene Munster, managing partner of venture capital firm Loup Ventures, said by phone. “I don’t know how they did it. They had every excuse in the world to put out a bad number.”Musk, 48, tried to salvage as much business as possible last month by introducing “touchless” deliveries at a time when authorities around the globe are urging would-be car buyers to shelter in place. While Tesla managed to deliver more vehicles than the year-ago quarter, the improvement was small considering the company added a new product -- the Model Y -- and opened an assembly plant in China.Tesla didn’t give an update on whether it still expects to deliver at least 500,000 vehicles this year.Analysts anticipate Tesla will sustain a significant blow along with all other automakers from the spread of the viral illness known as Covid-19. With a global recession increasingly likely, consumers are expected to be less interested in making big-ticket purchases like new vehicles even once they’re able to leave their homes.Model YThe vehicles delivered in the quarter include the first Model Y crossovers that started reaching customers in mid March. Musk has predicted it will be a big seller, potentially eclipsing the combined volume of all other vehicles in Tesla’s lineup: the Model 3, S and X.Tesla didn’t say how many vehicles it built during the quarter at its plant near Shanghai, which started production late last year. While the company suspended output when measures to contain the coronavirus forced plant closures across China, government authorities bent over backward to help the company reopen quickly.“The production number was very good, especially with what was going on in China,” Ben Kallo, an analyst at Robert W. Baird, said of the 102,672 vehicles Tesla built in the quarter. He isn’t bothered by the company neglecting to update its 2020 forecast. “It shows they don’t have visibility in this environment. Saying nothing is better than saying something at this point.”‘Small Victory’Tesla’s lone U.S. assembly plant in Fremont, California, stopped production on March 23 after days of back-and-forth with city and county officials. San Francisco Bay area health authorities have since extended “stay-at-home” orders to at least May 3.Tesla delivered over 14,000 fewer cars than it produced in the quarter, meaning the automaker built inventory.Musk warned back in July -- long before the coronavirus outbreak -- that the first quarter of this year would be “tough.” Tesla’s vehicles are no longer eligible for federal tax credits in the U.S., and buyers also are getting less-generous support from the Netherlands, a market that contributed to record fourth-quarter deliveries.“I view it as a small victory during a dark time,” said Dan Ives, a Wedbush Securities analyst who rates Tesla a hold. “The devil is in the details and the big question is around 2Q cash burn given this unprecedented, treacherous environment.”(Updates with share trading early Friday from first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Tesla Analysts Look Beyond Strong Deliveries to Advocate Caution

    Tesla Analysts Look Beyond Strong Deliveries to Advocate Caution

    (Bloomberg) -- Tesla Inc. shares soared in pre-market trading after the electric vehicle maker’s first-quarter delivery numbers impressed investors.Yet, even though the better-than-expected results suggested demand for Tesla cars remained strong, both bullish and bearish analysts warned that the company will not escape unscathed as the novel coronavirus pandemic brings demand for autos across the world to an abrupt halt.The company did not provide any update to its full-year delivery guidance, or on profitability or liquidity, something that the market had hoped to see amid the extreme uncertainties brought on by the Covid-19 crisis.“The company also did not break out any quantitative metrics around China or Model Y production and sales, which will likely disappoint both bulls, who see these as massive growth opportunities, and bears who are skeptical of demand in the other regions and demand for the Model 3,” Cowen analyst Jeffrey Osborne said.Tesla shares jumped 16% in pre-market trading to $528.Here’s a round-up of the analyst comments on the delivery figures.Bernstein, Toni Sacconaghi“Fist-quarter deliveries reaffirm strong market demand for Teslas.”“88,000 units was only 10,000 shy of our pre-Covid 19 forecast for the quarter, suggesting underlying demand was at least tracking in-line – and likely ahead – of our expectations, and grew 40% year over year, despite headwinds such as the expiration of U.S. and Dutch EV incentives.”“Tesla’s multiple is predicated on its growth profile, and strong first-quarter deliveries despite the shock of coronavirus – is clearly positive/reassuring.”Wedbush, Dan Ives“With the second half of March seeing a screeching halt in demand across the globe given the current pandemic, the big question for investors going forward is around the demand trajectory for 2Q/rest of the year and cash burn.”“It appears China production and demand are starting to rebound and should be a key growth driver over the coming quarters, although clear challenges remain in the months ahead as Tesla navigates this treacherous consumer landscape and spending environment abound.”“While cash burn will be heightened in the near term due to this anomalous global situation, we believe the longer-term trends remain very healthy and $20 of annual earnings power down the road is achievable.”Rates neutral, with a price target of $425.RBC, Joseph Spak“We don’t dismiss that Covid-19 and the ‘shutdown’ impacted Tesla deliveries, but we’ve heard some very low forecasts over the past week (in the 60,000 range) that have significantly, and in our view, unrealistically, lowered expectations.”“We hesitate to even really call this a ‘beat.”’Rates underperform.Cowen, Jeffrey Osborne“Deliveries came in better than our expectations, reflecting a stronger end of quarter push than our Covid-19 adjusted estimates, but production utilization was quite low in the quarter compared to stated capacity levels - even factoring in stated shutdowns.”“Free cash flow in first quarter likely not as bad as we feared, but second-quarter setup still looks rough, and we still expect a U-shaped recovery in 2H of 2020.”Rates underperform, price target $285.Needham, Rajvindra Gill“Despite the strong numbers, we remain cautious on Tesla’s deliveries for the remainder of 2020, as automotive demand has largely collapsed in North America and Europe due to the impact of Covid-19.”“It is unclear when the Fremont factory will be back online, significantly hampering Tesla’s production capacity.”“In the long-term, we continue to expect margin pressure from declining sales of higher-margin Model S & X vehicles, a lower mix within Model 3, and competitive pressures from other automakers as they launch their electric vehicles over the next few years.”Rates underperform.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Investing.com

    Stocks - Wall Street Selling Gains Steam

    By Geoffrey Smith

  • Tesla delivers 88,400 electric vehicles, beating expectations

    Tesla delivers 88,400 electric vehicles, beating expectations

    Tesla delivered 88,400 vehicles in the first quarter, beating most analysts expectations despite a 21% decrease from the previous quarter as the COVID-19 pandemic put downward pressure on demand and created logistical challenges. Tesla said Thursday it produced 103,000 electric vehicles in the first quarter, about 2% lower than the previous period. The deliveries and production figures beat most analysts expectations, causing Tesla shares to jump more than 10.4% in after hours trading.

  • Tesla sees strong Model Y production, deliveries; shares rise

    Tesla sees strong Model Y production, deliveries; shares rise

    The company's solid deliveries despite the coronavirus outbreak in the United States sent its shares up about 15% in extended trading. The company's production and delivery was largely unaffected by the coronavirus outbreak in the first three months of the year, as Tesla only began to temporarily suspend production at its San Francisco Bay Area vehicle factory on March 24. Tesla on Thursday did not address the impact of the coronavirus pandemic.

  • Tesla delivers 88,400 vehicles in Q1, rising over last year
    Yahoo Finance

    Tesla delivers 88,400 vehicles in Q1, rising over last year

    Tesla reported first quarter 2020 delivery results.

  • 'Dear Elon': Ukraine takes up Tesla's ventilator offer via Twitter

    'Dear Elon': Ukraine takes up Tesla's ventilator offer via Twitter

    Ukraine has taken to Twitter to ask Elon Musk to send it ventilators after the billionaire chief executive of Tesla Inc offered to ship them across the world during the coronavirus pandemic. Musk said this week he was ready to send the life-saving machines wherever his company delivers, free of charge. "Dear Elon, Ukraine is the second largest country in Europe with population nearly 40 mln citizens," Kiev's embassy in Washington wrote on Twitter late on Wednesday.

  • Bloomberg

    Tesla’s Model Y Gets High Marks From a Critic Musk Respects

    (Bloomberg) -- Tesla Inc.’s new Model Y has what people have come to expect from Elon Musk’s cars: It’s lightning quick, handles nicely and has better electronic gadgetry than its competitors.Unlike past Tesla offerings, early versions are rolling off the assembly line looking more like you’d expect from a company with a handle on the finer points of car building, according to Sandy Munro. The manufacturing consultant who’s been tearing cars apart piece-by-piece for three decades offered his initial impressions before digging into the Model Y that his shop took delivery of this week.“I don’t have much negative to say,” Munro said in an interview. “It’s much better than the Model 3 when we got it. We found problems, but the average car buyer won’t even see these things.”Tesla shares rose 1.3% as of 8:30 a.m. Thursday in New York, before the start of regular trading.Munro and his eponymous firm have been well known for years among Detroit’s automotive engineers for their in-depth analysis of hundreds of cars from virtually every manufacturer. He gained wider notoriety by tearing down the Model 3 -- Musk’s first attempt at a mass-manufactured car -- two years ago.In April 2018, Munro offered a mixed review of an early-build Model 3, praising Tesla’s technology while also calling out some serious manufacturing flaws. After a few more months of close consideration, his firm found potential for Musk to make the sedan profitably.Musk, who’s not always one to roll with the punches from critics, praised Munro’s engineering prowess in January.Walking around his firm’s recently purchased Model Y, Munro used a small measuring stick to find inconsistent gaps between body panels and the hood of the vehicle. He found similar spaces between the tail lights and rear body parts.But he gives the five-passenger Model Y high marks for its cavernous cargo space. The crossover is only a touch longer than the BMW X3 but much roomier with the rear seats folded down.Tesla also is clearly benefiting from a powertrain edge. Munro said two years ago that the Model 3’s battery pack and electric motors were the best he’d seen. The Model Y boasts 316 miles of range between charges, beating Audi’s e-tron by 112 miles and Jaguar’s I-Pace by 82 miles.Tesla’s crossover starts at $52,990, undercutting the base versions of Jaguar’s model by almost $17,000 and Audi’s by nearly $22,000.“It will sell,” Munro said of the Model Y. “Tesla buyers will overlook everything and other buyers won’t see what we see.”(Updates with shares in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    China Weighs Cuts to Electric-Car Subsidies It Just Extended

    (Bloomberg) -- China, the biggest market for electric cars, is considering a reduction in rebates given to buyers and limits on the models that qualify even as it commits to extending the costly subsidy program for another two years.The country’s state council said Tuesday it would extend rebates on electric vehicles until 2022 to support the industry as the coronavirus pandemic hobbles demand. But various government bodies are in discussions over reducing the incentives by 10% later in 2020, according to people familiar with the matter. They’re also in talks to narrow the universe of cars that qualify for the discounts, the people said, asking not to be identified because the deliberations are private.A reduction in subsidies could temper benefits for the likes of Tesla Inc. and Volkswagen AG, which are counting on the world’s biggest auto market to buoy sales. Electric-car manufacturers are already facing a host of challenges, from the global pandemic to the plunge in oil prices, which makes internal-combustion vehicles cheaper to drive.The subsidy plans show the balancing act China’s government is facing as it works to bring the economy back from the debilitating blow the coronavirus delivered early this year. With manufacturing sliding the most on record in February, industries are clamoring for state support.In its bid to become a leader in new-energy vehicles, China has maintained a significant subsidy program for over a decade and was in the process of rolling some of the support back to allow the industry to become more independent when the virus hit.NIO shares fell 4.7% in New York Wednesday.China’s auto industry has been hit particularly hard in the wake of the coronavirus, with weekly car sales at one point plummeting 96%. Now it’s Europe and the U.S.’s turn. Manufacturers across both regions have shuttered factories after governments imposed restrictions to stem the spread of the virus.New-vehicle registrations in France and Spain plunged by more than two-thirds in March from a year earlier, figures released Wednesday show. Several brands in the U.S. reported more than 40% declines for the month.Industry SlumpChina began subsidizing EV purchases in 2009 to promote the industry but has been gradually reducing handouts in the past few years to encourage automakers to compete on their own. The government had planned to phase them out completely at end of this year.But cutbacks that took effect last summer triggered the first downturn in the country’s EV industry, and the pandemic has only worsened the slump.The government bodies involved in the talks -- the Ministry of Finance, Ministry of Industry and Information Technology and the National Development and Reform Commission -- didn’t immediately respond to requests for comment or referred queries elsewhere.China PlantChina is a centerpiece of Tesla Chief Executive Officer Elon Musk’s automotive ambitions. The company began delivering China-built Model 3s to local consumers in January. Constructing the plant near Shanghai was key to unlocking a greater share of the market by qualifying its cars for subsidies and more favorable tax treatment.While Tesla’s registrations have been slow out of the gate, much of the weakness can probably by chalked up to seasonality and the impact the virus has had on the whole industry.General Motors Co. also has high hopes -- and a lot of cash -- riding on China’s EV market. The automaker announced early last month that it’s investing $20 billion into electric and self-driving vehicles by 2025. Some of its battery-powered models already are hitting showrooms in China ahead of the U.S., where federal incentives for its plug-in cars are shrinking.President Donald Trump also just completed a three-year effort to ease fuel-efficiency rules, which will make it easier for companies like GM to meet environmental standards that the Obama administration envisioned giving EVs a boost.VW Electric PushChina is a critical market for German auto giants VW, Daimler AG and BMW AG in terms of profits and sales. VW, the world’s top-selling automaker, is gearing its global electric-car push this year by starting production of purely battery-powered cars at two new factories in China.Daimler, the maker of Mercedes-Benz luxury cars, has introduced the EQC electric SUV and plans to expand its lineup of purely battery-powered vehicles to at least 10 in coming years with China being one of the key markets.The company has also folded its Smart city-car brand into a joint venture with its largest shareholder Geely, which will be based in China and make zero-emission subcompact cars for global markets.(Updates with NIO shares in the sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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    Coronavirus pandemic ruins outlook for a world of electric and autonomous cars

    So much for that world where every car was electric.

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