Archive for the ‘Elon Musk’ Category

Tesla lost $401 million from revenues of $2.7 billion in Q2 2017

August 2nd, 2017

Enlarge / The Tesla Model 3. (credit: Tesla)

On Wednesday afternoon, Tesla released its Q2 2017 financial results: a loss of $401 million from total revenues of $2.7 billion over the three months up until June 30th. That’s more or less the same performance as the company reported for Q1 2017, but it does show a 49 percent jump in revenue and 53 percent jump in vehicle deliveries compared to the same period in 2016. Depending upon whether Generally Accepted Accounting Practices (GAAP) were used, the net loss to shareholders was $2.04 per share (GAAP), or $1.33 per share (non-GAAP). It ended the period with $3 billion in cash.

During the quarter, Tesla produced 25,708 Model S and Model X electric vehicles and delivered 22,026 of them to customers. Sales of zero-emissions tax credits brought in another $100 million, and the company’s energy generation and storage activities saw a big increase, bringing in $287 million (compared to $214 million for Q1 2017 and just $3.9 million for Q2 2016). The company’s operating expenses actually decreased compared to Q1 2017, despite spending almost $48 million more on research and development.

In its earnings statement, Tesla revealed that it has been averaging 1,800 Model 3 reservations a day since the handover of the first production cars on July 28th. First deliveries to non-Tesla employees will begin in Q4 this year. Tesla says that production of the Model 3 will be limited by the slowest part of its supply chain and manufacturing process, but the company is confident it can build “just over 1,500 vehicles in Q3.” Output of the new EV is predicted to rise to 5,000 per week by the end of 2017. CEO Elon Musk told an earnings call that “what we have ahead of us is an incredibly difficult production ramp. But I’m very confident we can reach a rate of 10,000 vehicles per week by the end of next year.”

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Posted in Biz & IT, cars, Elon Musk, model 3, Tesla | Comments (0)

Elon Musk Plans to Launch 4,425 Satellites to provide Global Internet from Space

November 18th, 2016

Big tech companies, including Facebook, Google, and Microsoft, are in the race of bringing Internet connectivity to unconnected parts of the world through wireless devices, flying drones, high-altitude balloons, and laser beams.

But, SpaceX founder Elon Musk has big plans for bringing low-cost Internet service worldwide, and it all starts in space.
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Private rocket launch

Posted in Elon Musk, Facebook Satellite, Fast Internet, High Speed Internet Service, Internet-by-satellite, satellite communication, satellite Internet, Space X, Technology News, wireless internet | Comments (0)

Elon Musk hints at “top secret Tesla masterplan” coming this week

July 11th, 2016

Elon Musk has teased that he will release a “top secret Tesla masterplan” later this week, amid speculation that everyone’s favourite eccentric tech billionaire is trying to distract attention from a recent spate of bad publicity.

In a tweet posted on Sunday, the electric car firm’s chief said that this release would be “Part 2” of his plan—seemingly referring to a post he wrote almost exactly a decade ago, entitled “The Secret Tesla Motors Master Plan (just between you and me).”

It discussed Tesla’s early forays into affordable, non-sports electric cars, the vehicles which would become the Tesla 3 sports sedan, and the Tesla S four-door car, so there’s a good chance he’s about to preview a major new release.

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Posted in Cars Technica, Elon Musk, masterplan, Tesla, tesla model s, tesla model x | Comments (0)

Musk’s remarks at conference imply Tesla has huge autonomous car advantage

June 2nd, 2016

(credit: Mashable)

On Wednesday night Elon Musk grandly told audiences at the Code 2016 conference that we might be living in a simulated universe. That comment has certainly sparked attention, but he said something else that’s still got us scratching our collective head: when asked about self-driving cars, Musk said that he considers it a “solved problem,” and that “we are probably less than two years away” from safe autonomous driving.

This timeline is consistent with one that he gave Ars in 2015, but the head-scratchy bit is that every other expert we’ve spoken to thinks true self-driving cars (Level 4 autonomy according to the National Highway Traffic Safety Administration) are at least a decade out. NHTSA defines a level 4 autonomous car as one that “is designed to perform all safety-critical driving functions and monitor roadway conditions for an entire trip. Such a design anticipates that the driver will provide destination or navigation input, but is not expected to be available for control at any time during the trip. This includes both occupied and unoccupied vehicles.” Even Google’s experimental self-driving cars are classed as Level 3 by the agency.

Autonomous driving experts we’ve consulted at Audi, BMW, Ford, Mercedes, and Volvo (all of which have extremely active self-driving research programs) have consistently told us the same thing: it’s comparatively easy to make a car drive itself on a highway where every car is going the same direction and there’s no pedestrian traffic. But a car that can drive itself through a busy urban interchange—think Manhattan or Mumbai at rush hour—is closer to 2030 than 2020. Even sensor OEM Mobileye, which supplies Tesla with some of its autopilot hardware, won’t have its Level 3-ready EyeQ5 system on a chip ready until 2020.

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Posted in autonomous car, Cars Technica, Elon Musk, self-driving car, Tesla | Comments (0)

Elon Musk hints at Tesla Model Y with falcon-wing doors

October 7th, 2015

Elon Musk, the world’s greatest one-man PR machine, has hinted at the existence of another Tesla: the Model Y.

Musk revealed the information in a tweet last week, which he quickly deleted. Musk had taken to Twitter following the début of the Model X—Tesla’s SUV with falcon-wing rear doors. A fan tweeted at Musk, saying she would love for the Model 3 to have falcon-wing doors as well. Somewhat surprisingly, Musk responded with: “There will be a Model 3 and a Model Y. One of the two will.”

At this point, we’re fairly certain the Model 3 won’t have falcon-wing doors; all signs point to it being a smaller, cheaper version of the Model S. It would follow, then, that the Model Y might be a smaller, cheaper version of the Model X. Tesla trademarked the name “Model Y” back in 2013, around the same time that it trademarked the Model E.

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Posted in Cars Technica, Elon Musk, model 3, model x, model y, Tesla | Comments (0)

Review: Tesla’s new Model S P85D—double your engines, double your fun

May 24th, 2015

In its December 1997 issue, Road & Track published the first US road test of the otherworldly McLaren F1. The issue became one of the most famous in R&T’s history due to the 12+ page review of a car that the stateside automotive press hadn’t yet had a chance to spend a few days of unchaperoned time. The daily-driver details about the famous 240mph Lamborghini destroyer inspired true awe. The review, done with a privately owned F1 on loan to the magazine, contained superlative after superlative. The F1’s 627bhp BMW-built V-12 could rocket the car from 60 miles per hour to 160 miles per hour in the time it took to pour a glass of water.

“Surely,” I thought as I read and re-read the review with the fervor that only a teenage boy could have for the hottest of hot cars, “I’ll go my whole life and never get the chance to drive anything even remotely that fast.”

Turns out I was wrong—I had to wait 18 years.

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Posted in Cars Technica, electric cars, electric vehicle, Elon Musk, Features, Gadgetology, model s, model s p85d, review, Tesla, tesla model s, tesla motors | Comments (0)

FTC doubles down on direct auto sales, says “it’s not just about Tesla”

May 12th, 2015

Multiple directors at the Federal Trade Commission have put their name on a new blog post on the FTC’s site, calling for states to reexamine both current and upcoming legislation around how cars are sold. Most states make it difficult for manufacturers to sell directly to consumers, forcing would-be car buyers to buy from third-party dealers. The FTC’s post flatly states that “consumers would be better served if the choice of distribution method were left to motor vehicle manufacturers and the consumers to whom they sell their products.”

Unlike most other countries in the world, new car sales in the United States are almost exclusively required to be done through independent dealerships as opposed to the manufacturer being able to sell directly to a consumer. The ostensible reason for this is to prevent manufacturers from colluding and controlling the price of automobiles; it also funnels a tremendous amount of revenue into locally owned businesses rather than directly to the manufacturers. Though the original intent of state laws mandating the dealership buying experience might have been valid, the FTC contends that they have long since outlived their usefulness to consumers.

This isn’t the first time the FTC has expressed its displeasure with the current car buying landscape via a blog post—the agency said much the same thing last April. Last time, the FTC called state laws requiring consumers to buy from dealers “protectionist” and the reasoning behind them “unsupported.” This time, the FTC is taking somewhat of a broader tack.

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Posted in Cars Technica, elio, elio motors, Elon Musk, Federal Trade Commission, FTC, Tesla, tesla motors | Comments (0)

Will Artificial Intelligence keep humans as pets?

March 24th, 2015

Steve Wozniak is the latest tech luminary to sound a note of caution about the potentially apocalyptic dangers of Artificial Intelligence.

Posted in AI, Artificial intelligence, Elon Musk, Featured, Security threats, Steve Wozniak, Woz | Comments (0)

New Tesla software update intends to keep you from running out of juice

March 19th, 2015

Several days ago, Tesla Motors CEO Elon Musk tweeted that he was going to “end range anxiety” with an over-the-air software update affecting all existing Tesla Model S vehicles. The Internet speculation machine exploded (with some people possibly believing that Musk was going to literally beam newer, bigger batteries into the cars), but we had to wait until this morning’s Tesla press conference to hear exactly what he meant.

Musk took the (virtual) stage at 9am PDT to announce that in approximately 10 days, Tesla would be releasing its 6.2 Model S software update, which will include a drastic change to the car’s awareness and understanding of its own range. The new feature, called “Range Assurance,” will remain running continually in the background and will actively communicate with both Tesla’s network of Supercharger charging stations and non-Tesla charging stations. Even when not actively navigating the car to a destination, the system will continually calculate the car’s remaining range and warn the driver when they begin to pass out of range of a charging station.

Range Assurance

Musk explained that the software will favor Supercharging stations (which can bypass the car’s on-board charging system and dump juice into a Model S’s battery pack much faster than even a high-power standard connector), and it will do its best to not only prevent a customer from ever passing out of range of a charging station but to also send users toward charging stations with the shortest wait. According to Musk, the Range Assurance feature polls the Tesla Supercharger network once every 30 seconds, keeping a near-realtime list of Supercharger status. This means that new charging locations are automatically integrated into the system as they’re added—and Musk said that Tesla will be adding more Superchargers in 2015 than in all its previous years.

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Posted in Cars Technica, Elon Musk, Tesla | Comments (0)

Burning Man festival to cancel tickets of cheaters who used website hacks

February 24th, 2015

Burning Man says it will cancel festival tickets purchased by approximately 200 individuals who managed to use a flaw in the ticketing website to jump ahead of the line.

Posted in alibaba, Black Rock City, burning man, data loss, Delta Airlines, direct object reference, e-commerce sites, Elon Musk, Featured, JavaScript, Mark Zuckerberg, Reddit, Ticketfly | Comments (0)