Monday, 19 November, 2018

Tesla Speeds Up Production by Reducing Color Options

Elon Musk smokes marijuana on a podcast prompting two executives to quit Tesla to drop some color options for cars to simplify production
Lori Graves | 12 September, 2018, 01:31

In a new blog post, Musk predicted that the electric-car maker would build on its second-quarter success and have "the most unbelievable quarter in our history, building and delivering more than twice as many cars as we did last quarter".

CEO of Tesla has previously noted how the paint shop at the Fremont factory has become a bottleneck for their ambitions production plans.

The stock closed up 8.5 percent on Monday after two brokerages said the company could meet its production targets for the second half of the year.

Other analysts are skeptical that Tesla can accelerate or even maintain this production pace long enough to be profitable.

Tesla's CEO Elon Musk also announced a number of management promotions, as the electric vehicle maker enters the final weeks of an "amazing" third quarter, the company chairman said.

Investors should still buy Tesla's stock in spite of all the "drama" surrounding the electric auto maker and its management, an analyst at Baird said after touring the company's factory.

In a note to clients on Tuesday titled "No Longer Investable", Nomura Instinet analyst Romit Shah said that while Nomura has been one of the most bullish on Tesla's stock since it initiated coverage last October, the controversial behavior of Tesla's chief executive is recent months has hurt the company and likely contributed to the senior management exodus.

British Airways website compromised, customer data stolen
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Alibaba co-founder Jack Ma to retire
Mr Ma began his professional life teaching English at a university in the Chinese city of Hangzhou, in eastern Zhejiang province. Alibaba started as a business-to-business marketplace, but had enormous growth when it started selling to consumers.

Two Injured, Three Killed in Cincinnati Bank Shooting
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Shares of Tesla Inc.

On Monday, however, Tesla's stock bounced back after two positive analyst reports.

There is a waiting list of more than 400,000 people who want to buy a Model 3, and some have been waiting since March 2016, when the company first started taking orders.

Tesla now offers seven colors for its vehicles that include top variant Model S, mid level Model X and its most affordable sedan Model 3. Tesla shares have lost over 25 percent of their value since early August in the immediate wake of Musk's "funding secured" tweet. Musk has promised that as it sells more Model 3s the company will turn a sustained net profit starting this quarter. The shares fell 2% in pre-market trading on Tuesday.

This is the Obsidian Black Tesla Model S. "We now see the near-term risk-reward for Tesla as relatively skewed to the upside, given the potential for the stock to revert towards the middle of its $270 to $370 range", the analyst wrote.

The $35,000 Model 3 will reach new customers for Tesla, some of whom won't own multiple vehicles.

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