TSLA （6do encyclopedia）

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Tesla, Inc. (TSLA) is an American electric vehicle and clean energy company founded in 2003 by entrepreneurs Martin Eberhard and Marc Tarpenning. The company’s mission is to accelerate the world’s transition to sustainable energy through the development and production of electric vehicles, energy storage systems, and solar products. With its innovative technologies and unique approach to manufacturing, Tesla has become one of the most valuable companies in the world.

History

The roots of Tesla can be traced back to 2003 when Eberhard and Tarpenning founded the company in Palo Alto, California. They were inspired by the success of the electric sports car, the AC Propulsion tzero, and saw an opportunity to develop a high-performance electric car that could compete with gasoline-powered vehicles. The company was named after the inventor and electrical engineer, Nikola Tesla, who is famous for his contribution to the development of the AC electrical system.

The first Tesla Roadster, a high-performance sports car, was introduced in 2008. It was based on the Lotus Elise chassis and featured an all-electric drivetrain. The Roadster could travel up to 245 miles on a single charge, making it the longest-range electric car at the time. The success of the Roadster helped establish Tesla as a leader in the electric vehicle market.

In 2012, Tesla introduced its first mass-market car, the Model S. The Model S was a luxury sedan that could travel up to 265 miles on a single charge. It was praised for its performance, range, and innovative design. The Model S helped establish Tesla as a serious competitor to traditional automakers.

In recent years, Tesla has expanded its product offerings to include the Model X, a luxury SUV, the Model 3, a more affordable electric car, and the Model Y, a compact SUV. Additionally, the company has developed energy storage systems, solar panels, and solar roofs.

Products

Tesla’s current product lineup includes:

Electric Vehicles:

• Model S: A luxury sedan that features advanced technology, high-performance, and a long-range.
• Model X: A luxury SUV that offers advanced features and all-wheel drive.
• Model 3: A more affordable electric car that is designed for everyday driving.
• Model Y: A compact SUV that offers a spacious interior, advanced technology, and a long-range.

Energy Storage Systems:

• Powerwall: A home battery that is designed to store energy from solar panels or the grid and provide backup power during outages.
• Powerpack: A commercial battery that can be used to store energy from solar farms or the grid and provide backup power.
• Megapack: A large-scale battery system that is designed for utility-scale projects.

Solar Products:

• Solar Panels: High-efficiency solar panels that come with a 25-year warranty.
• Solar Roofs: A roofing system that integrates solar panels and provides a seamless look for homes.

Manufacturing and Technology

Tesla has revolutionized the manufacturing process by implementing a vertically integrated system that allows the company to control its entire supply chain. This approach has helped Tesla reduce costs and increase efficiency. Tesla designs and develops its own electric powertrain, battery cells, and software.

Tesla’s electric powertrain is a unique feature that allows for quick acceleration, improved efficiency, and regenerative braking. The powertrain consists of an electric motor, inverter, and gearbox that delivers power to the wheels. Tesla also designs and develops its own battery cells, which are used in its energy storage systems and electric vehicles. The battery technology allows Tesla’s cars to travel farther on a single charge than any other electric vehicle on the market.

Software is another key component of Tesla’s success. Tesla’s cars are equipped with a proprietary operating system called Tesla OS that integrates navigation, entertainment, and safety features. Tesla’s Autopilot system, which is a suite of advanced driver assistance features, allows the car to steer, accelerate, and brake on its own.

Sustainability

Tesla’s mission is to accelerate the world’s transition to sustainable energy. The company is committed to reducing the world’s dependence on fossil fuels and reducing greenhouse gas emissions. Tesla’s electric vehicles produce zero emissions and are powered by renewable energy. Additionally, Tesla’s energy storage systems and solar products allow for the efficient use of renewable energy.

In 2020, Tesla committed to becoming carbon neutral by 2030. The company plans to achieve this by reducing its emissions through the use of renewable energy, improving efficiency in manufacturing, and developing more sustainable products.

Financial Performance

Tesla has become one of the most valuable companies in the world, with a market capitalization of over $500 billion as of 2021. Tesla’s success has been driven by strong demand for its electric vehicles, innovative manufacturing techniques, and unique approach to sustainability.

Tesla has experienced significant growth in recent years, with its revenue increasing from $7 billion in 2016 to over $31 billion in 2020. The company has also been profitable in recent years, with net income of $721 million in 2020.

Conclusion

Tesla has become a leader in electric vehicles and clean energy technology. The company’s innovative approach to manufacturing, sustainability, and technology has set it apart from traditional automakers. As Tesla continues to grow and expand its product offerings, it is likely to have a significant impact on the future of transportation and energy.

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Elon Musk loses bid to modify, throw out agreement with SEC over tweets

Reuters

23-05-15 13:52

Elon Musk has lost his bid to modify or end the 2018 agreement he made with the US Securities and Exchange Commission (SEC) that required him to get clearance from a Tesla attorney before releasing certain tweets. The 2nd US Circuit Court of Appeals in Manhattan dismissed Musk’s assertion that the SEC had used the agreement to conduct “bad-faith, harassing investigations of his protected speech” and that its enforcement measures had made it much harder for him to comply. Legal experts said the outcome means Musk is now likely to face greater scrutiny from both his company and regulators.

Shares in Tesla dropped nearly 6% after the ruling on Monday, wiping $13.5bn off the company’s value. This was because the SEC had made the demand in the first place after Musk had tweeted he had funding secured to take Tesla private at $420 a share. Three weeks later, under regulatory scrutiny, Musk backed down. He called it an attempt at humour. Former SEC chairman Harvey Pitt said Musk may now have to seriously consider how to beat the regulators. “He is going to have to decide whether he wants to continue to be chairman and CEO of Tesla or whether he wants to walk away,” said Pitt. “Because in the end, if he continues his present approach, he will lose.”

Neil Wilson at trading platform Markets.com said the ruling set “a bad precedent for public company executives who will now be more cautious about making bold statements on social media”. “They will look at this and say Musk has been rightly punished for overstepping the mark,” he said. “It puts executives in a bit of a straitjacket. The whole point of social media is it’s supposed to be informal and chatty. This ruling puts a real dampener on the ability of executives to have a bit of a personality, show some spark and talk to customers as people rather than just dollar signs.”

https://www.reuters.com/legal/elon-musk-loses-bid-modify-throw-out-agreement-with-sec-over-tweets-2023-05-15/

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Analysis: Tesla’s new car-making process stokes debate among industry experts

Reuters

23-05-15 10:04

Tesla's radical new vehicle-assembly process unveiled in March sparked a debate among automotive industry experts with some questioning whether the previously tested techniques of the unboxed process would significantly contribute to lower production costs. However, others describe it as revolutionary and see the process as having the potential to upend the auto industry's traditional assembly line practice. The process was presented at Tesla's Investor Day earlier this year and executives said that it would make the company's next-gen vehicles "significantly simpler and more affordable." Tesla investors have been impatient to see the company produce an electric vehicle priced under $30,000.

https://www.reuters.com/business/autos-transportation/teslas-new-car-making-process-stokes-debate-among-industry-experts-2023-05-15/

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India's carmakers back zero duty on limited British imports under trade deal - sources

Reuters

23-05-15 09:39

Leading Indian automakers have agreed to eliminate the import tax on a limited number of vehicles in a trade deal with the UK "if the need arises," according to the Society of Indian Automobile Manufacturers (SIAM). Indian automakers have been resistant to the imposition of zero duty on imports arguing that it would dry-up investment in domestic manufacturing. The deal, while opening up the Indian market, only applies to a limited number of vehicles and Japan, South Korea, and the European Union are watching India's negotiations with the UK carefully.

https://www.reuters.com/business/autos-transportation/indias-carmakers-back-zero-duty-limited-british-imports-under-trade-deal-sources-2023-05-15/

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Elon Musk to meet Macron, other leaders at France conference

Reuters

23-05-15 07:27

Tesla CEO Elon Musk is set to meet French President Emmanuel Macron and finance minister Bruno Le Maire in Paris. Musk will attend France's annual "Choose France" summit in Versailles, where discussions will cover a number of topics including electric cars. The meeting coincides with France's bid to shore up support for the green industry sector. The recent deal to bring ProLogium's first overseas car battery plant to the country, at the expense of Germany and the Netherlands, was boosted by government lobbying and low prices.

https://www.reuters.com/business/elon-musk-attend-business-conference-france-meet-macron-2023-05-15/

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Vietnam’s Tesla debuts with wrong kind of power

Reuters

23-05-15 05:37

VinFast, the electric vehicle unit of Vietnam's largest conglomerate Vingroup, has announced that it will list in the US via a merger with Hong Kong-based special-purpose acquisition firm Black Spade Acquisition. VinFast was valued at $23bn excluding Black Spade's $169m cash, taking the enterprise's debt to $27bn. Its original plan was to export electric SUVs, e-scooters, and e-buses to North America, Europe, and Vietnam. VinFast's listing will offer the money-losing business a chance to sell more electric vehicles. Analysts have questioned VinFast's decision to go public via this controversial route, which values the enterprise at 42 times its 2022 sales and is seven times that of Tesla's multiple. Many also questioned why Black Spade's capital injection was relatively small. In April, VinFast secured $2.5bn from Vingroup and its founder. Before the deal, existing investors owned 100% of the firm; now, they will own 99%.

https://www.reuters.com/breakingviews/vietnams-tesla-debuts-with-wrong-kind-power-2023-05-15/

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Tesla applies to expand Shanghai plant, add pouch battery cell output

Reuters

23-05-16 08:19

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Tesla is seeking regulatory clearance to expand its plans in Shanghai, and to begin producing, albeit in small numbers, pouch-type battery cells. In an undated public notice, the expansion would see the Shanghai Gigafactory have the capacity to produce 1.75 million powertrain units annually, up from 1.25 million. If the request is granted, Tesla would also produce trial pouch cells with the initial capacity to make 20,000-amp-hours of cells, equivalent to the power in a single Model Y battery pack. It's unclear how Tesla would use the pouch cells, and a request for comment was not returned.

https://www.reuters.com/business/autos-transportation/tesla-applies-expand-shanghai-plant-add-pouch-battery-cell-output-2023-05-16/

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Tesla to meet Indian officials this week, source says

Reuters

23-05-16 12:05

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Tesla officials are set to meet with Indian government representatives over the coming days to discuss local procurement of parts. The discussions will take place a year after the electric car manufacturer placed plans to sell vehicles in India on hold, citing the country’s high import taxes. At the time, Tesla wanted to see lower tariffs to make it easier to test the local market, though it would later abandon its plans there altogether.

https://www.reuters.com/business/autos-transportation/tesla-meet-indian-officials-this-week-source-2023-05-16/

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Tesla succession planning, demand in focus ahead of shareholder meeting

Reuters

23-05-16 10:36

Elon Musk will face questions over the lack of a successor, weak demand and model delays at Tesla's shareholder meeting on Tuesday. Investors are expected to vote on publishing a report on “key-person risk” as some find that Musk is vital to the electric-car company, leading to succession concerns. Musk said he would devote more time to Tesla but has other ventures, including a new AI start-up, which are also a worry. Musk is expected to be asked about this start-up and whether or not he has hired someone to run it.

https://www.reuters.com/business/autos-transportation/tesla-succession-planning-demand-focus-ahead-shareholder-meeting-2023-05-16/

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Elon Musk claims George Soros ‘hates humanity.’ The ADL says Musk’s attacks ‘will embolden extremists’

CNN

23-05-16 16:34

Tesla CEO, Elon Musk, has come under fire for baseless comments on Twitter that accused philanthropist George Soros of hating humanity and eroding the fabric of civilisation. Soros, a Holocaust survivor, is frequently targeted by conspiracy theorists and antisemites. Musk's remarks have been criticised by the Anti-Defamation League and others for potentially fueling further attacks on Soros. Recent data suggests that the volume of hate speech on Twitter has grown significantly under Musk's ownership of the social media network. Soros disclosed, shortly before Musk’s attack, that he had disposed of a modest stake in Tesla. Both men had been targets of short sellers.

https://edition.cnn.com/2023/05/16/business/elon-musk-george-soros/index.html

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Nomura hires two bankers for clean transport technology deals

Reuters

23-05-16 19:47

Japanese investment bank Nomura has hired two investment bankers to head its greentech unit’s coverage of mobility and automotive clients in the US and Europe. The company hopes to capitalise on the consolidation among older vehicle and equipment makers and newer rivals, many of whom were initially funded by SPACS, which have come to the fore on Wall Street this year. Nomura’s global co-head of Nomura Greentech, Duncan Williams, said venture-backed EV firms and low-emission vehicle producers will benefit from subsidies in many countries, but may face cash shortfalls as a result of higher borrowing and economic fears.

https://www.reuters.com/business/finance/nomura-hires-two-bankers-transport-technology-deals-2023-05-16/

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Tesla will advertise for the first time

CNN

23-05-16 23:58

Tesla will advertise for the first time, according to CEO Elon Musk, following the rise in competition from major automakers and the company's decision to heavily discount its e-vehicle offerings alone. Tesla has previously not advertised, with Musk claiming that demand outstripped supply of the vehicles. However, greater competition is driving Tesla to devote more money to advertising its brand to maintain its lead in the market. Musk's purchase of Twitter may have also affected his decision following a decline in advertising revenues for the social media platform.

https://edition.cnn.com/2023/05/16/business/tesla-advertising/index.html

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Australia's push for faster EV uptake will be slow to charge

Reuters

23-05-17 08:20

Australia is experiencing a surge in take-up of electric vehicles after years of laggard behaviour, but experts warn the country is not yet equipped to cope with the boom. Australia has fewer than 30% of public charging points per EV in use globally, and there are concerns over delays with plugging stations into the grid, and shaky economics. Despite this, sales of EVs are rising, accounting for 8%of all vehicle sales in April. The Labour government elected in 2019 has also initiated a national EV strategy, and doubled funding for cleaner transport to AUD500m ($339m).

https://www.reuters.com/sustainability/australias-push-faster-ev-uptake-will-be-slow-charge-2023-05-17/

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Hyundai Europe CEO: we won't take a "knee-jerk reaction" to Tesla

Reuters

23-05-17 07:39

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Hyundai Motor's European chief, Michael Cole, has said that there will be no direct change to Hyundai's pricing in response to Tesla's price cuts. Cole added that while Tesla's new pricing may cause some consumers to consider purchasing a Tesla, Hyundai's focus is on providing reassurance to customers that prices will not fluctuate. Cole made these comments at the Reuters Automotive Conference in Munich.

https://www.reuters.com/business/autos-transportation/hyundai-europe-ceo-we-wont-take-knee-jerk-reaction-tesla-2023-05-17/

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Tesla proposes new EV plant in India for domestic sales, exports -source

Reuters

23-05-17 11:56

Tesla has told Indian government officials that it is looking to establish a factory in the country to manufacture electric cars for domestic sales and exports. This comes almost a year after Tesla halted plans to sell cars in India when it failed to secure lower import taxes. Tesla senior executives are in India this week to discuss local sourcing of parts and other issues with the government. However, the company has not discussed lowering import taxes on electric cars with officials.

https://www.reuters.com/business/autos-transportation/tesla-revisiting-plans-manufacture-india-cnbc-tv18-2023-05-17/

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Analysis: Elon Musk's embrace of advertising at Tesla grabs marketers' attention

Reuters

23-05-17 21:47

During Tesla's annual meeting, Elon Musk announced plans for the first traditional advertising campaign for the electric vehicle manufacturer. Although Musk has previously relied on his celebrity status and social media activity, he suggested that Tesla was willing to 'try out a little advertising and see how it goes'. Musk highlighted that Tesla is not immune to the macroeconomic pressures facing the world today and demonstrated that the role of traditional advertising techniques may still prove useful in today's marketing practices to communicate to a potential and existing a customer base. Despite the popularity of Tesla products, the CEO noted that the company can no longer assume ever-increasing demand while also dealing with rising competition from other companies. Musk acknowledged that the advertising campaign for Tesla would emphasise the safety, affordability and technological features of Tesla's vehicles.

https://www.reuters.com/business/autos-transportation/elon-musks-embrace-advertising-tesla-grabs-marketers-attention-2023-05-17/

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Panasonic plans new battery production capacity in North America by 2030

Reuters

23-05-18 05:36

Panasonic plans to establish a large-scale production capacity for 4680 battery cells in North America by 2030 to meet the increasing demand for electric vehicle batteries. The company aims to achieve a production capacity of 200 gigawatt-hours per year for automobile batteries by March 2031. Panasonic's energy unit makes batteries for Tesla, which has announced plans to develop its own 4680 battery cells to enhance the performance of its cars and reduce battery costs.

https://www.reuters.com/business/panasonic-plans-new-battery-production-capacity-north-america-by-2030-2023-05-18/

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Explainer: The latest on tax credit rules in Biden's climate and drugs bill

Reuters

23-05-18 05:09

The Inflation Reduction Act, signed into law by US President Joe Biden in August, has spurred a subsidy race and rankled foreign allies and global companies with its economic protectionism. Despite prompting concerns from some G7 leaders and global CEOs, Japanese officials have agreed a trade deal with the US to expand eligibility for EV tax credits. Tesla has declared a strategy shift centred on the Act’s incentives while Mercedes-Benz and Audi are looking to invest further in the US. However, some of the biggest global drugmakers are preparing to fight the Act’s plan to negotiate Medicare drug prices.

https://www.reuters.com/world/us/latest-tax-credit-rules-bidens-climate-drugs-bill-2023-05-18/

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Tesla discussed car, battery-making incentives with Indian officials - source

Reuters

23-05-18 06:53

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Tesla has discussed with Indian government officials how it can participate in domestic incentives for vehicle and battery manufacturing. The electric car manufacturer has suggested setting up a factory in the country to produce electric vehicles (EVs) and to locally manufacture EV batteries. Last year, efforts by Tesla and India to strike a deal to lower the import tax on cars were unsuccessful after India officials insisted the company should also build cars locally.

https://www.reuters.com/business/autos-transportation/tesla-discussed-incentive-scheme-auto-sector-with-indian-officials-source-2023-05-18/

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Not enough resources for EVs to be only cleaner car option, Toyota says

Reuters

23-05-18 14:58

Toyota has claimed that inadequate materials are preventing battery electric vehicles (BEV) from being the automobile sector's primary solution to combating climate change. Toyota's chief executive, Gill Pratt, warned of the dangers of encouraging drivers to hold onto more polluting vehicles, stating BEVs might be a positive difference in facilitating the reduction of climate change, but in regions where coal-fired power sources are in use, hybrids offer better CO2 emission rates. Toyota, the world's leading auto manufacturer, has responded to criticism on its lack of BEV investment stating petrol-electric hybrids are a more appropriate choice for some markets and drivers.

https://www.reuters.com/business/autos-transportation/not-enough-resources-evs-be-only-cleaner-car-option-toyota-says-2023-05-18/