Tesla CEO Elon Musk pours cold water on fans waiting for Model S, Model X refresh

Tesla CEO Elon Musk said on Twitter Monday night that the company is planning “a series of minor ongoing changes” for its older Model S and Model X vehicles, but not a major refresh. Musk’s declaration follows the departure of Tesla’s former vice president of production, Peter Hochholdinger, who oversaw Model S and X manufacturing during his tenure there. Lucid CEO Peter Rawlinson was previously the chief engineer of Tesla Model S.In May, Tesla employees told CNBC the company was then planning a


Tesla CEO Elon Musk said on Twitter Monday night that the company is planning “a series of minor ongoing changes” for its older Model S and Model X vehicles, but not a major refresh. Musk’s declaration follows the departure of Tesla’s former vice president of production, Peter Hochholdinger, who oversaw Model S and X manufacturing during his tenure there. Lucid CEO Peter Rawlinson was previously the chief engineer of Tesla Model S.In May, Tesla employees told CNBC the company was then planning a
Tesla CEO Elon Musk pours cold water on fans waiting for Model S, Model X refresh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: lora kolodny
Keywords: news, cnbc, companies, quarter, tesla, pours, musk, water, refresh, fremont, vehicle, second, fans, model, waiting, vehicles


Tesla CEO Elon Musk pours cold water on fans waiting for Model S, Model X refresh

Tesla CEO Elon Musk said on Twitter Monday night that the company is planning “a series of minor ongoing changes” for its older Model S and Model X vehicles, but not a major refresh.

Musk’s declaration follows the departure of Tesla’s former vice president of production, Peter Hochholdinger, who oversaw Model S and X manufacturing during his tenure there. Hochholdinger has joined Lucid Motors, a would-be Tesla competitor that plans to ship its first electric vehicle next year. Lucid CEO Peter Rawlinson was previously the chief engineer of Tesla Model S.

In May, Tesla employees told CNBC the company was then planning a Model S refresh that would potentially include a 400-mile range battery — a goal that Musk later nodded to during a shareholders’ meeting, although he didn’t say it would be for the Model S — and could use Model 3 seats. They also said Tesla was rejiggering its Fremont, California, factory to make way for the refresh and for production of its upcoming Model Y crossover.

While plans for the Model S refresh have been reined in, changes at the Fremont plant are underway, according to a passel of new filings with the City of Fremont.

Specifically, the filings reveal that Tesla aims to overhaul its body-in-white and paint facilities and equipment in Fremont before embarking on its next phase of electric vehicle production.

Musk promised that Tesla would deliver between 90,000 and 100,000 vehicles for the second quarter of 2019, and this time, his forecasting was right on target with Tesla reporting deliveries of 95,200 cars to customers for the second quarter.


Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: lora kolodny
Keywords: news, cnbc, companies, quarter, tesla, pours, musk, water, refresh, fremont, vehicle, second, fans, model, waiting, vehicles


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Why one expert says the social media business model has an issue

Why one expert says the social media business model has an issue5 Hours AgoPatrick Gelsinger, the CEO of VMWare, joins “Squawk Box” to discuss how the tech sector is coming under fire from regulators.


Why one expert says the social media business model has an issue5 Hours AgoPatrick Gelsinger, the CEO of VMWare, joins “Squawk Box” to discuss how the tech sector is coming under fire from regulators.
Why one expert says the social media business model has an issue Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03
Keywords: news, cnbc, companies, issue5, squawk, business, social, model, joins, vmware, sector, media, issue, tech, regulators, expert


Why one expert says the social media business model has an issue

Why one expert says the social media business model has an issue

5 Hours Ago

Patrick Gelsinger, the CEO of VMWare, joins “Squawk Box” to discuss how the tech sector is coming under fire from regulators.


Company: cnbc, Activity: cnbc, Date: 2019-07-03
Keywords: news, cnbc, companies, issue5, squawk, business, social, model, joins, vmware, sector, media, issue, tech, regulators, expert


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BMW gives its trendsetting 2020 X6 crossover a major makeover in new redesign

The 2020 BMW X6 Source: BMWFew luxury automakers have more extensive vehicle lineups than BMW, launching a broad array of new products over the past decade. The Bavarian marquee refreshed its roster again Tuesday with the redesign of its influential X6 crossover utility vehicle. The 2020 BMW X6 Source: BMWBMW itself has added downsized versions of the X6, such as the X2 and X4. The 2020 BMW X6 Source: BMWInside, the new X6 gets a more driver-focused layout, with a reconfigurable gauge cluster an


The 2020 BMW X6 Source: BMWFew luxury automakers have more extensive vehicle lineups than BMW, launching a broad array of new products over the past decade. The Bavarian marquee refreshed its roster again Tuesday with the redesign of its influential X6 crossover utility vehicle. The 2020 BMW X6 Source: BMWBMW itself has added downsized versions of the X6, such as the X2 and X4. The 2020 BMW X6 Source: BMWInside, the new X6 gets a more driver-focused layout, with a reconfigurable gauge cluster an
BMW gives its trendsetting 2020 X6 crossover a major makeover in new redesign Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: paul a eisenstein
Keywords: news, cnbc, companies, utility, market, bmw, major, crossover, system, models, redesign, vehicle, 2020, source, makeover, model, trendsetting, gives, x6


BMW gives its trendsetting 2020 X6 crossover a major makeover in new redesign

The 2020 BMW X6 Source: BMW

Few luxury automakers have more extensive vehicle lineups than BMW, launching a broad array of new products over the past decade. The Bavarian marquee refreshed its roster again Tuesday with the redesign of its influential X6 crossover utility vehicle. Conceived as a blend of a sports coupe and a sport utility vehicle, the original BMW X6 was a breakout product when it was launched in 2008. Its coupe-like shape has spawned a legion of copycat designs from competitors like Mercedes-Benz and Audi and Porsche’s Cayenne. “It made a difference” in the market, offering more creativity than the classic, boxy SUV, said Stephanie Brinley, a principal analyst at IHS Markit. But Brinley cautions that the trend may have gone too far. BMW and its German rivals alone have added scores of new models since the beginning of the millennium, and the market is now showing signs of over-proliferation.

The 2020 BMW X6 Source: BMW

BMW itself has added downsized versions of the X6, such as the X2 and X4. But that has begun to raise questions about whether the luxury market is now being flooded with too many new models, each generating smaller sales volumes. “How many are too many?” she asked, adding that as the global automotive market begins to slow down, “that will sort out,” with some low-volume models likely to be pulled from showrooms. That could include some BMW offerings, though Brinley sees the X6 as continuing to be one of the brand’s more important and influential products. The 2020 BMW X6 stays close to the design of the outgoing model, but is larger in almost all exterior and interior dimensions. The only significant exception is its slightly lower height.

The 2020 BMW X6 Source: BMW

The midsize “Sport Activity Vehicle,” as BMW prefers to call it, retains the steeply raked, coupe-like roof line that separates it from more classic utility vehicles like the original BMW X5. The 2020 model picks up on the larger version of the signature BMW double-kidney grille first seen on the new X7 flagship. Here, however, buyers can order a package that illuminates the grille, along with the daytime running lights that surround the X6’s LED headlamps. BMW hasn’t disclosed the gas mileage for the 2020 model, but the 2019 X6 xDrive50i got 17 mpg in the city and 20 mpg on the highway. Top speed for all models is 130 mph on standard tires; 155 mph on performance tires. Pricing isn’t available yet, but the base price for the 2019 model is $63,550, plus delivery fees. BMW designers clearly opted for a more aggressive look with the 2020 remake, starting with the larger air intakes on the bumper, as well as the now-standard 20-inch alloy wheels and tires — which can be upgraded to up to 22 inches. The double-bubble roof line flows into twin spoilers above the rear hatch glass. Key design elements, including those spoilers and the “air breathers” that reduce turbulence around the front wheels, have a significant impact on the vehicle’s aerodynamics, improving both fuel economy and performance.

The 2020 BMW X6 Source: BMW

Inside, the new X6 gets a more driver-focused layout, with a reconfigurable gauge cluster and the latest version of the BMW iDrive infotainment system. Buyers can opt for the audiophile Bowers & Wilkins Diamond Surround Sound System, which punches 1,500 watts through 20 separate speakers. For those who prefer to just watch the outside world passing by, the new X6 also offers a panoramic sunroof that’s 83% larger than the outgoing model. Several versions of the 2020 X6 will be available. The rear-wheel drive sDrive40i and all-wheel drive xDrive40i share the same 3.0-liter TwinPower Turbo inline-6 engine with 335 horsepower, up 33 from the outgoing model. Torque is rated at 330 pound-feet, up 30 from the 2019 utility vehicle.

The 2020 BMW X6 Source: BMW

The sportier X6 M50i opts for a 4.4-liter TwinPower turbocharged eight-cylinder engine. It bumps the numbers up to 523 horsepower, or 78 more than before, and 553 pound-feet of torque, up 74. The “M” model also gets a sport exhaust system. It can hammer from 0 to 60 in 4.1 seconds, a half-second quicker than the 2019 X6. All versions share an eight-speed automatic that is paired with an onboard navigation system and the active cruise control radar sensor. That lets the gearbox shift proactively, for example, downshifting ahead of corners and hills.


Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: paul a eisenstein
Keywords: news, cnbc, companies, utility, market, bmw, major, crossover, system, models, redesign, vehicle, 2020, source, makeover, model, trendsetting, gives, x6


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Self-driving cars face two important challenges, says World Economic Forum executive

Automakers and technology companies have invested billions into researching autonomous vehicles. But the industry has two big challenges it needs to overcome before self-driving cars become widespread — technology and business models that can make money, according to Michelle Avary, head of autonomous mobility at the World Economic Forum. The first, obviously, is a technological challenge,” Avary told CNBC’s Geoff Cutmore and Arjun Kharpal at the World Economic Forum in Dalian, China. The other


Automakers and technology companies have invested billions into researching autonomous vehicles. But the industry has two big challenges it needs to overcome before self-driving cars become widespread — technology and business models that can make money, according to Michelle Avary, head of autonomous mobility at the World Economic Forum. The first, obviously, is a technological challenge,” Avary told CNBC’s Geoff Cutmore and Arjun Kharpal at the World Economic Forum in Dalian, China. The other
Self-driving cars face two important challenges, says World Economic Forum executive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, selfdriving, model, autonomous, forum, important, technology, challenges, industry, companies, avary, world, face, big, business, executive, economic, cars


Self-driving cars face two important challenges, says World Economic Forum executive

Close-up of self driving minivan, with LIDAR and other sensor units and logo visible, part of Google parent company Alphabet Inc, driving past historic railroad station with sign reading Mountain View, in the Silicon Valley town of Mountain View, California, with safety driver visible, October 28, 2018.

Automakers and technology companies have invested billions into researching autonomous vehicles.

But the industry has two big challenges it needs to overcome before self-driving cars become widespread — technology and business models that can make money, according to Michelle Avary, head of autonomous mobility at the World Economic Forum.

“We’ve got a couple of big challenges in front of us. The first, obviously, is a technological challenge,” Avary told CNBC’s Geoff Cutmore and Arjun Kharpal at the World Economic Forum in Dalian, China.

“Really making sure that the technology is working in the areas of perception, which is vision — being able to identify objects and then understand how to move around them. That has yet to be solved.”

The industry relies on collaboration and sharing of data among companies to build the technology. If the ongoing trade tensions between the U.S. and China prevent firms from sharing geography-specific datasets, Avary said it will “actually stymie the growth of the industry” and prevent companies from operating outside their own countries.

Still, Avary said, there’s likely going to be more mergers and acquisitions as well as partnerships happening in the space between auto manufacturers and technology companies.

Recently, smartphone giant Apple purchased an autonomous vehicle start-up, Drive.ai, which confirmed the iPhone-maker’s continued interest in self-driving car software.

“The two sides need each other and the market is enormous, so, I think there’s a lot of opportunities for everyone to come out as winners,” she said.

The other big challenge, according to Avary, is the business model for self-driving vehicles.

“We see some big divergence between the whole idea of the business model of the robo-taxi versus what we see in areas like commercial trucking, mining and construction, where the business model case might be more readily made,” she said.

Robo-taxis refer to driverless ride-sharing services, which are being tested in various areas around the United States. Last month, Waymo, a subsidiary of Google-parent Alphabet, made some of its self-driving minivans available to customers of ride-sharing company Lyft. The latter’s rival Uber is also working to deploy self-driving cars without safety drivers in limited areas.

For its part, Waymo is developing autonomous vehicles and related services, and has signed deals with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Europe and Asia.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, selfdriving, model, autonomous, forum, important, technology, challenges, industry, companies, avary, world, face, big, business, executive, economic, cars


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Trump should improve Iran nuclear deal and use it as model for North Korea, ex-US ambassador says

The White House could use a stronger nuclear deal with Iran as a way to proceed with North Korea, John Negroponte, former U.S. ambassador to the United Nations, told CNBC on Monday. “We’ve got to improve the Iran agreement to the point where it’s also something that could serve as a model for North Korea. “We have to think about triangulating between Iran and North Korea,” Negroponte added in a “Squawk Box ” interview. However, that summit was cut short after Trump announced a deal could not be


The White House could use a stronger nuclear deal with Iran as a way to proceed with North Korea, John Negroponte, former U.S. ambassador to the United Nations, told CNBC on Monday. “We’ve got to improve the Iran agreement to the point where it’s also something that could serve as a model for North Korea. “We have to think about triangulating between Iran and North Korea,” Negroponte added in a “Squawk Box ” interview. However, that summit was cut short after Trump announced a deal could not be
Trump should improve Iran nuclear deal and use it as model for North Korea, ex-US ambassador says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, trump, white, nuclear, ambassador, announced, deal, improve, exus, north, set, negroponte, model, iran, korea


Trump should improve Iran nuclear deal and use it as model for North Korea, ex-US ambassador says

The White House could use a stronger nuclear deal with Iran as a way to proceed with North Korea, John Negroponte, former U.S. ambassador to the United Nations, told CNBC on Monday.

“We’ve got to improve the Iran agreement to the point where it’s also something that could serve as a model for North Korea. But persuading countries not to go nuclear is hard,” said Negroponte, who served in several roles in the George W. Bush administration. In addition to U.N. ambassador, Negroponte was deputy secretary of State and director of National Intelligence under the Republican 43rd president.

“We have to think about triangulating between Iran and North Korea,” Negroponte added in a “Squawk Box ” interview.

Iran announced last month it was scaling back on its compliance with major world powers its nuclear agreement, one year after Washington announced it was pulling out of the deal. Last week, President Donald Trump imposed new sanctions on Iran after it allegedly shot down an American military drone and attacked oil tankers in the vital Strait of Hormuz shipping route.

On Monday, Iran’s foreign minister said the country had breached the limit of its enriched uranium stockpile, which was set in the 2015 multination nuclear deal. On Friday, European officials attempted to persuade Iran to stop development by offering trade incentives, but the assistance was not enough.

Looking to halt Pyongyang’s nuclear ambitions, Trump had met back in February with North Korean leader Kim Jong Un. However, that summit was cut short after Trump announced a deal could not be reached. The White House was pushing for North Korea to give up its nuclear weapons for an economic boost.

On Sunday, Trump met Kim and became the first sitting U.S. president to visit the North Korean side of the Demilitarized Zone. The two leaders said they would resume negotiations.

The impromptu Trump-Kim meeting may have set up the path for a deal, Negroponte said. “Not much else has worked in the past,” he added, while advocating giving Trump’s approach a chance. “Over the past 25 years, we’ve gone one step forward two steps back.”


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, trump, white, nuclear, ambassador, announced, deal, improve, exus, north, set, negroponte, model, iran, korea


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Morgan Stanley used AI to study its own analysts and figured out how to beat the market

Morgan Stanley used deep learning and artificial intelligence to study the text of its own analyst reports and has developed a market-beating trading strategy based on how computers read the author’s sentiment. Later refining the analysis to only reports that include price target adjustments, the new Morgan Stanley model showed 9.6% outperformance between the group of stocks top-rated by the model and the lowest group. “Rather than isolating key words as in existing sentiment models, we used a d


Morgan Stanley used deep learning and artificial intelligence to study the text of its own analyst reports and has developed a market-beating trading strategy based on how computers read the author’s sentiment. Later refining the analysis to only reports that include price target adjustments, the new Morgan Stanley model showed 9.6% outperformance between the group of stocks top-rated by the model and the lowest group. “Rather than isolating key words as in existing sentiment models, we used a d
Morgan Stanley used AI to study its own analysts and figured out how to beat the market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-27  Authors: thomas franck
Keywords: news, cnbc, companies, study, morgan, stanley, positive, ai, reports, analysts, analyst, stock, market, model, wwe, huang, figured, wrote, beat, used


Morgan Stanley used AI to study its own analysts and figured out how to beat the market

Morgan Stanley used deep learning and artificial intelligence to study the text of its own analyst reports and has developed a market-beating trading strategy based on how computers read the author’s sentiment.

For each of the brokerage’s 41,758 company research reports from January 2013 to May 2019, Morgan Stanley’s model produces a score reflecting how confident the artificial intelligence was that the analyst was bullish or bearish on the stock.

Buying after the notes that the AI was most certain were bullish tended to outperform the broader market. Later refining the analysis to only reports that include price target adjustments, the new Morgan Stanley model showed 9.6% outperformance between the group of stocks top-rated by the model and the lowest group.

“Rather than isolating key words as in existing sentiment models, we used a deep learning approach to analyze complete sentences,” stock strategist Qingyi Huang wrote in a note to clients.

“Overlaying revised price targets helped us focus on critical market-moving events, while providing a sufficient number of opportunities for entering trades,” Huang added.

The strategy showed a solid performance over the whole January 2013 to May 2019 backtest period, with a positive return in 2018 despite the market being down by 5%, according to the Morgan Stanley team.

Analysts at brokerages across Wall Street often remind clients of their opinions on the equities under their coverage, applauding those with improved performance and critiquing those with riskier outlooks. It is often up to clients to read between the lines on these reports if the analyst doesn’t make an official change in his or her rating. Plus, analyst ratings don’t always hold credibility with investors and traders. Many take a downgrade to “hold” as a sign to sell a stock. On Wall Street, “sell” ratings still remain rare.

Analysts can often reveal their true feelings toward a stock simply though their choice of words and Morgan Stanley’s work now offers proof. Phrases like “great things,” “definitely a plus” and “much better” can be read and loosely understood as nearly always positive by a deep learning platform. And that, in turn, can be leveraged, Huang wrote.

The strategist picked a recent Morgan Stanley report on World Wrestling Entertainment (WWE) to illustrate his point.

On Feb. 8, the brokerage published a report saying that the company’s media segment “should grow 40% YoY as WWE enjoys the first quarter of its new US TV rights deals. This leads us to reaffirm our ’20 EBITDA growth estimate, up [about] 150% from 2018.”

The new Morgan Stanley model generated a sentiment score of 95 for the WWE report, indicating that the program had high confidence that the analyst was positive on the stock.

“If we had entered a long position on WWE based on the positive outlook for the company, we would have achieved a 4.9% return for a two-month holding period,” Huang wrote. “The ideas driven by MRAS scores can add incremental value to a fundamental portfolio manager’s stock screening tool and help systemize alpha opportunities within their coverage.”

It works for bearish sentiment, too.

The model generated a score of -79 for a September 2018 note in which an analyst wrote that Micron “continues to execute well, but guides revenues down in the strongest seasonal quarter.”

A two-month short position in Micron entered on the date of the note’s publication would have generated an 11.9% return.

— With reporting by Michael Bloom


Company: cnbc, Activity: cnbc, Date: 2019-06-27  Authors: thomas franck
Keywords: news, cnbc, companies, study, morgan, stanley, positive, ai, reports, analysts, analyst, stock, market, model, wwe, huang, figured, wrote, beat, used


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Tesla has a secret lab trying to build its own battery cells to reduce dependence on Panasonic

The battery pack and battery cells are the main cost component in an electric vehicle, according to research by IHS Markit. Tesla has posted job listings in the last month for various engineers involved in battery cell design, equipment for producing battery cells and manufacturing processes to make batteries. Even if Tesla’s effort to start making battery cells is successful, the company is not likely to cut ties with Panasonic and other battery suppliers any time soon. Executives’ comments on


The battery pack and battery cells are the main cost component in an electric vehicle, according to research by IHS Markit. Tesla has posted job listings in the last month for various engineers involved in battery cell design, equipment for producing battery cells and manufacturing processes to make batteries. Even if Tesla’s effort to start making battery cells is successful, the company is not likely to cut ties with Panasonic and other battery suppliers any time soon. Executives’ comments on
Tesla has a secret lab trying to build its own battery cells to reduce dependence on Panasonic Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: lora kolodny
Keywords: news, cnbc, companies, musk, model, build, battery, manufacturing, cell, dependence, employees, reduce, cells, trying, production, panasonic, secret, lab, tesla


Tesla has a secret lab trying to build its own battery cells to reduce dependence on Panasonic

SpaceX owner and Tesla CEO Elon Musk gestures during a conversation at the E3 gaming convention in Los Angeles, June 13, 2019. Mike Blake | Reuters

Tesla is developing the means to manufacture its own battery cells, according to five current and recent employees, something that the electric vehicle maker has relied on Panasonic to do since the companies signed an extensive partnership deal in 2014. The move could help Tesla offer cheaper, higher performance electric-vehicles than it does today, without having to pay or share data and resources with outside vendors or partners. The battery pack and battery cells are the main cost component in an electric vehicle, according to research by IHS Markit. The company has been “battery-constrained” in the past, CEO Elon Musk acknowledged at the company’s annual shareholders meeting earlier in June. That means a lack of batteries limited Tesla’s production and sales of electric vehicles and energy storage systems (Powerwalls and Powerpacks). Making its own battery cells would also fit with Musk’s general ambition to make Tesla as “vertically integrated” as possible, which means developing, manufacturing and selling everything it can — even its own enterprise software. But manufacturing cells at high volume would be another challenge for a company that recently implemented cost-cutting measures and is still struggling to perfect its high-volume vehicle production. Tesla and Panasonic did not respond to requests for comment.

Skunkworks lab on Kato road

Tesla employees conduct some of their battery cell manufacturing research at a “skunkworks lab” at the company’s Kato Road facility, a few minutes from its car plant in Fremont, California. That plant is where Tesla makes its Model 3, Model S and Model X vehicles today, while its batteries are made at the Gigafactory in Sparks, Nevada, a factory jointly owned and operated with Panasonic. Employees in Tesla’s battery R&D teams are now focused on designing and prototyping advanced lithium ion battery cells, as well as new equipment and processes that could allow Tesla to produce cells in high volumes, employees and former employees said. Tesla has posted job listings in the last month for various engineers involved in battery cell design, equipment for producing battery cells and manufacturing processes to make batteries. Even if Tesla’s effort to start making battery cells is successful, the company is not likely to cut ties with Panasonic and other battery suppliers any time soon. Tesla employees familiar with cell supplier negotiations said the company is most likely to work with Panasonic and LG to provide the cells that go into the initial Model 3 vehicles produced in its Shanghai factory. That factory could start production by the end of 2019, with mass production beginning in 2020.

Tesla CEO Elon Musk speaks at the ground breaking for the automaker’s new factory in Shanghai. Eunice Yoon | CNBC

The ambition to bring at least some battery cell manufacturing in house has been broadly discussed within Tesla and among its followers. At the company’s annual shareholder meeting in June, Musk invited CTO JB Straubel and vice president of technology vice president Drew Baglino on-stage to tell shareholders about battery-related initiatives at Tesla. Musk encouraged outside investors to focus on two strategic matters at Tesla: How quickly the company can offer completely self-driving vehicles, and its plan to “scale battery production and get the cost per kilowatt hour lower.” He said said Tesla wasn’t ready to let the “cat out of the bag” yet, and would reveal further details — including about the company’s acquisition of Maxwell Technologies, completed in May this year — at an investor battery and power train day before the end of 2019.

JB Straubel, Tesla Motors chief technical officer. Getty Images

CTO JB Straubel said: “It’s more obvious now than I think it ever was, we need a large-scale solution to cell production.” Baglino added, “We’re not sitting idly by. We’re taking all the moves required to be masters of our own destiny here, technologically and otherwise. I think through all the experience we’ve developed with partners and otherwise, we will have solutions for this.” Executives’ comments on Tesla battery tech follow reports bout tension between the two companies. In January, Panasonic struck a deal with Toyota to build car batteries together through a joint venture majority-owned by Toyota. In early April, Panasonic said it would temporarily freeze its investments in Tesla Gigafactories. A few days later, Musk blamed Panasonic for dragging down the pace of Model 3 production, saying its cell lines were operating at only two-thirds of their capacity, or 24 GWh, at their shared Gigafactory. “Tesla won’t spend money on more capacity until existing lines get closer to 35GWh theoretical,” Musk tweeted. In recent weeks, following layoffs and other cost-cutting efforts by Tesla, Panasonic has hired a number of former Tesla employees at the Gigafactory in Nevada, including technicians, supervisors, process and systems engineers, according to LinkedIn profiles and current and recent Tesla employees. Hopping from Tesla to Panasonic at the Gigafactory wasn’t as common just a couple of years ago, according to a former Tesla human resources employee who asked to remain unnamed. Compensation, training and a clearer policy around schedules, especially how to earn and get time off, help draw Tesla employees over to their Japanese partner, this person said. WATCH: Inside Tesla’s Nevada Gigafactory


Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: lora kolodny
Keywords: news, cnbc, companies, musk, model, build, battery, manufacturing, cell, dependence, employees, reduce, cells, trying, production, panasonic, secret, lab, tesla


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Goldman Sachs cuts Tesla price target

Goldman Sachs slashed its price target on Tesla on Thursday and said it was expecting shares to continue to decline over concerns about demand. “Sustainable demand [is] the key question as shares [are] likely continue to de-rate,” the bank said in a note. Goldman lowered the price target to $158 from $200, which would represent a 30% drop from Tesla’s current levels based on Wednesday’s close of $226.43. “We believe a downward path for shares will resume as it becomes more clear that sustainable


Goldman Sachs slashed its price target on Tesla on Thursday and said it was expecting shares to continue to decline over concerns about demand. “Sustainable demand [is] the key question as shares [are] likely continue to de-rate,” the bank said in a note. Goldman lowered the price target to $158 from $200, which would represent a 30% drop from Tesla’s current levels based on Wednesday’s close of $226.43. “We believe a downward path for shares will resume as it becomes more clear that sustainable
Goldman Sachs cuts Tesla price target Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: michael bloom, sam meredith, fred imbert
Keywords: news, cnbc, companies, demand, continue, shares, sachs, model, goldman, sustainable, cuts, question, price, tesla, target


Goldman Sachs cuts Tesla price target

Goldman Sachs slashed its price target on Tesla on Thursday and said it was expecting shares to continue to decline over concerns about demand.

“Sustainable demand [is] the key question as shares [are] likely continue to de-rate,” the bank said in a note. Goldman lowered the price target to $158 from $200, which would represent a 30% drop from Tesla’s current levels based on Wednesday’s close of $226.43.

“We believe that is the largest question for investors to underwrite at this point — what are sustainable demand levels for the Model S, Model X, and Model 3 — and how does that change with the introduction of Model Y production,” Goldman Sachs analyst David Tamberrino said. “We believe a downward path for shares will resume as it becomes more clear that sustainable demand for the company’s current products are below expectations.”

Tesla shares are down 0.81% in premarket trading. The stock is down 30% this year as the company continues to be mired in a myriad controversies. Analysts and investors also continue to mull whether the company will need to raise more capital.


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: michael bloom, sam meredith, fred imbert
Keywords: news, cnbc, companies, demand, continue, shares, sachs, model, goldman, sustainable, cuts, question, price, tesla, target


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See how this YouTube star cut her Tesla Model 3 into a pickup truck

Elon Musk has promised to unveil Tesla’s first-ever electric pickup truck by the end of this summer. But at least one Tesla fan was too eager to wait — so, she made her own. But on Tuesday, Giertz posted a new video to YouTube that shows her latest engineering effort — converting a Tesla Model 3 sedan into a pickup truck — and it actually appears to be a success. Giertz says they spent over a year planning the project, which included buying a new Model 3 (which has a base price of $35,000) from


Elon Musk has promised to unveil Tesla’s first-ever electric pickup truck by the end of this summer. But at least one Tesla fan was too eager to wait — so, she made her own. But on Tuesday, Giertz posted a new video to YouTube that shows her latest engineering effort — converting a Tesla Model 3 sedan into a pickup truck — and it actually appears to be a success. Giertz says they spent over a year planning the project, which included buying a new Model 3 (which has a base price of $35,000) from
See how this YouTube star cut her Tesla Model 3 into a pickup truck Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: tom huddleston jr
Keywords: news, cnbc, companies, tesla, pickup, shows, youtube, star, model, cut, video, teslas, giertz, truck, strip


See how this YouTube star cut her Tesla Model 3 into a pickup truck

Elon Musk has promised to unveil Tesla’s first-ever electric pickup truck by the end of this summer. But at least one Tesla fan was too eager to wait — so, she made her own. Simone Giertz is a Swedish-born YouTube host known mostly for making comical online videos chronicling her attempts to build what she calls “sh—y robots.” Giertz, whose channel has over 1.6 million followers, regularly builds robots that perform everyday tasks less than adequately, like a helmet that sloppily brushes your teeth or an alarm clock that wakes you up with a rubber hand smacking your face. But on Tuesday, Giertz posted a new video to YouTube that shows her latest engineering effort — converting a Tesla Model 3 sedan into a pickup truck — and it actually appears to be a success. The 31-minute video shows Giertz, along with mechanic Marcos Ramirez, designer Laura Kampf and car refurbisher Rich Benoit (of the YouTube channel “Rich Rebuilds”), removing the electric sedan’s rear window and literally cutting through the Model 3 frame to remove the back end of its roof.

Giertz and her team of engineers and designers then strip out the Tesla’s backseat and trunk in order to install a pickup bed in the now-open back of the car. Giertz says they spent over a year planning the project, which included buying a new Model 3 (which has a base price of $35,000) from Tesla. “One of the initial designs we had was to essentially strip everything from the midway and back, and just put in a flatbed,” Giertz told Wired, “But I didn’t like the look of that. So we decided to salvage as much of the back half as possible and try to build it into more of an El Camino. pickup truck, ” referring to the famous Chevrolet model.


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: tom huddleston jr
Keywords: news, cnbc, companies, tesla, pickup, shows, youtube, star, model, cut, video, teslas, giertz, truck, strip


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BMW debuts 4-door, 8-Series Gran Coupe with an entry price around $86,000

The new 2020 BMW 8-Series Gran Coupe is BMW’s latest offering. For those who want more power, however, the new Gran Coupe comes with a brutish, 523-horsepower twin-turbo V-8. But none of the competitors offers as broad a range as BMW does with its various Gran Coupe options. The Gran Coupe is expected to solidly outsell the two-door 8-Series going forward as has been the case with earlier Gran Coupe offerings based on the 4-Series and 6-Series lines. The heavier Gran Coupe, BMW estimates, will n


The new 2020 BMW 8-Series Gran Coupe is BMW’s latest offering. For those who want more power, however, the new Gran Coupe comes with a brutish, 523-horsepower twin-turbo V-8. But none of the competitors offers as broad a range as BMW does with its various Gran Coupe options. The Gran Coupe is expected to solidly outsell the two-door 8-Series going forward as has been the case with earlier Gran Coupe offerings based on the 4-Series and 6-Series lines. The heavier Gran Coupe, BMW estimates, will n
BMW debuts 4-door, 8-Series Gran Coupe with an entry price around $86,000 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: paul a eisenstein
Keywords: news, cnbc, companies, coupe, entry, 86000, rear, models, 4door, bmw, price, 8series, version, model, gran, debuts, twodoor, coupes


BMW debuts 4-door, 8-Series Gran Coupe with an entry price around $86,000

The 2020 BMW 8 Series Gran Coupe. European model shown. Source: BMW

BMW has a habit of stretching definitions, as it did when it introduced a stretched version of the old 6-Series coupe, adding a pair of extra doors and dubbing it a “Gran Coupe.” Since then, it has expanded the array of four-door coupes that have fleshed out its line-up. The new 2020 BMW 8-Series Gran Coupe is BMW’s latest offering. For those who want more power, however, the new Gran Coupe comes with a brutish, 523-horsepower twin-turbo V-8. Based on the two-door model introduced just a year ago, the new model offers more space and easier entry, as well as the first inline-six engine option available for the 8-Series line. The sporty M850i version will also become one of the automaker’s most expensive models ever when it reaches showrooms in September, pushing into six-figure territory when all the option boxes are checked.

Starting price of $85,895

When it reaches U.S. showrooms, expect a starting price of $85,895 for the 840i and $88,705 for the 840i xDrive. The M850i will start at $109,895. BMW is by no means the only luxury automaker that has tried to blur the lines between sedans and coupes. If anything, Mercedes-Benz was a pioneer with the original, CLS model launched in 2004. Mercedes has since added several other models following this design theme, including the smaller CLA. Audi’s A7 is another popular competitor, with Porsche offering its Panamera model and Aston Martin weighing in with the Rapide. But none of the competitors offers as broad a range as BMW does with its various Gran Coupe options. The Tesla Model S, which more precisely targets the BMW 7-Series, has been drawing from potential 8-Series buyers, auto industry analysts say. The debut of BMW’s Gran Coupe comes almost exactly a year after BMW revealed the two-door version of the 8-Series, reviving a nameplate it abandoned nearly two decades ago and providing a more sporty alternative to the familiar 7-Series sedan flagship.

Coupes lose ground

But, in today’s SUV-centric market, coupes have lost even more ground than sedans. The Gran Coupe is expected to solidly outsell the two-door 8-Series going forward as has been the case with earlier Gran Coupe offerings based on the 4-Series and 6-Series lines.

The 2020 BMW 8 Series Gran Coupe. European model shown. Source: BMW

What’s clear is that BMW’s passenger car line-up, in general, has been struggling of late. While its crossover models, such as the X5, were up 29.0% for the first five months of the year, its sedans, coupes and sports cars were down 15.1%. The 4-Series coupes, including the Gran Coupe, lost 19.4%. Though the 8-Series was never expected to generate massive volume, it only recorded 1,197 sales in the U.S. through the end of May, less than a third the 3,931 7-Series models BMW sold. The automaker is clearly hoping that the addition of the four-door version will help move the needle. That said, BMW designers worked hard to maintain the coupe-like lines of the earlier model, retaining the long nose and sweeping roofline, even though the Gran Coupe features a more upright windshield to allow for a taller roof.

A bigger cabin

It is bigger in most key dimensions, adding 7.9 inches to the two-door’s wheelbase, for one thing, and 9.0 inches to overall length. The Gran Coupe also gains 1.2 inches in width and stands 2.2 inches taller, those number translating into a cabin roomy enough to allow adults to sit in the rear without bumping elbows or banging heads whenever the car hits a pothole.

The 2020 BMW 8 Series Gran Coupe. European model shown. Source: BMW

Both versions will come with a panoramic moonroof as standard fare, though the M850i will also offer an optional carbon-fiber roof to reduce overall weight and lower the Gran Coupe’s center of gravity. The body itself uses a mix of materials to hold down mass, including aluminum doors and hood and a dent-plastic resistant trunk lid. As one might expect of the BMW flagship, even a base model is lavishly equipped, with standard leather seating and trim, though buyers can opt up to a two-tone leather package, as well. Unlike the two-door model, the Gran Coupe features a wide center console running the length of the cabin to divide it into four seating sections. The rear seats can be folded in a 40/20/40 configuration to open up more cargo space. There are some significant technical features, too, including LED headlamps with Laserlight that help extend a driver’s view significantly at night. The rear console features new USB-C ports and the driver has handy access to the latest version of the BMW iDrive infotainment system.

0 to 60 in 3.7 seconds

While BMW offers the 8-Series coupe with a variety of different powertrain options around the world, it limited the U.S. two-door model to the 523-horse power twin-turbo 4.4-liter V-8 found in the M850i trim. That version was able to launch from 0 to 60 in under 3.5 seconds. The heavier Gran Coupe, BMW estimates, will need about 3.7 seconds to get there. Going forward, the Bavarian automaker will add the rear-wheel-drive 840i and 840i xDrive Gran Coupe which will bring to the U.S. a 3.3-liter inline-six making 335 horsepower and 368 pound-feet of torque. It estimates a 0 to 60 launch time of 4.6 seconds for the xDrive model, and a top speed of 155 mph when driving on performance tires. Both engines will be paired with a quick-shifting eight-speed automatic with steering wheel-mounted paddle shifters. The Gran Coupe gets a double-wishbone front suspension and a five-link rear. An active steering system is meant to increase the car’s agility, especially during high-speed cornering.


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: paul a eisenstein
Keywords: news, cnbc, companies, coupe, entry, 86000, rear, models, 4door, bmw, price, 8series, version, model, gran, debuts, twodoor, coupes


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