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Share to Twitter Share to Linkedin Tesla began the second quarter on a tear after starting 2022 with its biggest profit and highest vehicle deliveries in company history, fueled by booming China business. But a severe Covid-related lockdown there that continued until this month, along with startup pains at the electric-car maker’s newest plants, has analysts slashing their forecasts for global delivery numbers it’s expected to report within the next few days. The Austin-based company, which typically posts delivery and production numbers a day or two after the quarter ends, may report delivering about 258,000 EVs to customers worldwide, the average of analysts surveyed by Forbes . While that would be up 28% year over year, it’s down 17% sequentially from a record 310,048 deliveries in the first quarter, despite the addition of new factories in Germany and Texas. It’s also 18% below a consensus estimate of 315,000 deliveries at the start of the quarter. … [Read more...] about Tesla Analysts Slash EV Delivery Forecasts After Turbulent China Quarter

Share to Twitter Share to Linkedin Tesl TSLA a is at the center of another controversy. Its newest factories are burning through mountains of cash. Investors are worried about bankruptcy. Bloomberg reported on Thursday that Elon Musk said the Berlin and Austin factories are money furnaces. The headline amped up fear, uncertainty and doubt about the automaker. Shares slipped. Shareholders should beware. FUD works. In fairness, Musk was simply being honest. New factories blaze through capital as they scale up production. Equipment costs can be monumental, especially during an innovation cycle. New employee training, stockpiling components from suppliers, and ongoing construction costs add up too. These cash outlays are stacked up against limited production runs to work out the bugs. The factories in Berlin, Germany and Austin, Texas represent the evolution of the wildly successful “Giga” Shanghai facility, opened in 2019. That Chinese plant … [Read more...] about Tesla Factories Actually Burn Through Skepticism

The Autopilot mode in Tesla's ( TSLA ) electric cars is turning out to be the company's Achilles Heel following news of yet another crash involving a car equipped with the Autopilot feature. On Aug. 28, 2021, a Tesla Model 3 hit a state highway patrol cruiser in Orlando, missing the officer who stopped to help a disabled motorist on the highway. According to Florida Highway Patrol, the Autopilot feature was enabled in the Tesla involved in the crash. The company is already under investigation by the National Highway Traffic Safety Administration for a series of crashes involving its cars that occurred between January 2018 and July 2021 across nine states. According to the agency, the August crash was the 12th involving a Tesla vehicle. Key Takeaways A Tesla Model 3 in Autopilot mode crashed into a state trooper's car on a Florida highway in August 2021, making it the 12th incident involving this Tesla feature. News of the crash didn't have a big impact on Tesla's … [Read more...] about Tesla’s (TSLA) Autopilot Reported to Cause Another Crash