Thursday, 16 August, 2018

Elon Musk says Tesla 'restructuring' so the company can become profitable

Tesla quarterly profits Q1 FY2015- Q1 FY2018 Tesla quarterly profits Q1 FY2015- Q1 FY2018
Scott Davis | 03 May, 2018, 16:03

Insiders own 23.10% of the company's stock.

Professor Christian Stadler, of Warwick Business School believes that even if Tesla can overcome its production issues, the clock is now well and truly ticking for the electric auto company. "I think the problem is, it's not engineered for manufacturing simplicity and that's going to continue to plague them through the lifecycle of that vehicle", he said.

Musk spoke of the lesson in finding the right balance between manual and robotic manufacturing, an issue with which he went public in recent weeks.

"On the one hand I think Tesla would have broken down long ago if it wasn't for Elon Musk driving this great excitement around the brand". The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, May 2nd.

However, Elon Musk, the company's CEO has indicated that the hiring spree is a clear show of the company's sign of confidence in its operations as well as the ability to increase its production by the end of June so as to meet the growing demand for Model 3, the company's entry-level electric auto.

"The morning after the Roadster was announced, I put a deposit down", said Bruce Sidlinger, a 60-year-old aerospace engineer who resides in Flagstaff, Arizona.

He elaborated on his point Wednesday, explaining that part of the delay was caused by a robot, which was created to install sound-buffering materials on the Model 3's battery pack.

The company said in a statement last month that it does not need to raise capital.

"Fluffbots continuously failed to pick up the fluff".

Tesla quarterly revenues Q1 FY2015- Q1 FY2018
Tesla quarterly revenues Q1 FY2015- Q1 FY2018

"More than half of our capex in Q1 was related to completion of work for Model 3 production capacity at Fremont and Gigafactory 1 plus payments to suppliers for tooling", Tesla's report read.

The most intense focus will be on the pace and trajectory of Model 3 production.

The Model 3 is supposed to be Tesla's golden goose. "Sorry, these questions are so boring".

Interesting to get an update on Musk's expected specs for Tesla Semi, but I was particularly interested in the comments about a potential battery breakthrough needed to enable those specs.

Even $100 per kWh at the pack level, which Tesla previously said it didn't expect to hit before 2020, it would mean $80,000 to $100,000. The target for gross margin is expected to remain at around 25 percent, but Tesla surprised itself by ending up with a significantly higher selling price per vehicle than it had initially projected.

Mr. Musk has acknowledged that Tesla erred in trying to build a highly automated production line to assemble the Model 3, noting that getting robots and other machinery to work in harmony has proved to be more hard than he expected.

Musk eventually became somewhat irate with questions related to Model 3 production and capital expenditure, and cut off several callers.

The electric carmaker posted its latest earnings results Wednesday, and the filings show Tesla's money stockpile shrank from $3.4 billion to $2.7 billion the first three months of 2018. The deals take the German manufacturer within striking distance of a sought-for 50 billion-euro total.




Recommended

  • Facebook developer conference kicks off in San Jose amid scandal

    They can then start chats with other singles in a messaging app that will function outside of Facebook Messenger. Playing matchmaker shines a further light on the amount of personal user data Facebook has access to.
    Armenian opposition leader's supporters gathering in Yerevan ahead of voting

    Armenian opposition leader's supporters gathering in Yerevan ahead of voting

    The Armenian parliament has voted against naming protest leader Nikol Pashinian as the country's new prime minister. Three of the four parties said that today, on 1 May, they would vote for him as the next prime minister of Armenia.
    Amazon expands office, hires 2000 in Boston

    Amazon expands office, hires 2000 in Boston

    More than 6,000 people now work for Amazon in Canada, including 1,000 researchers and engineers in Vancouver at several sites. Online retail giant Amazon has announced it will expand its Vancouver tech hub and create 3,000 new high-tech jobs.
  • University of MI  represented in Tony nominations for 'Mean Girls'

    University of MI represented in Tony nominations for 'Mean Girls'

    It now will face " The Children ", " Farinelli and The King ", " Junk " and " Latin History for Morons " for best new play. Best Original Score nominees are Angels in America, The Band's Visit , Frozen , Mean Girls , and SpongeBob SquarePants .
    Armenian opposition leader says plans to form

    Armenian opposition leader says plans to form "government of accord"

    The parliament will gather for a special session on Tuesday to vote on the only officially nominated candidate, Nikol Pashinyan . Since 13 April, tens of thousands have come out to the streets daily in what Pashinyan has called a "velvet revolution".
    São Paulo building collapses in huge blaze

    São Paulo building collapses in huge blaze

    According to a BBC News report, officials believe some people could be trapped inside the collapsed 26 story building. Video showed dust, flames and sparks flying into the air. "Fifteen or 20 minutes later the building fell".
  • Congress playing communal card in Karnataka: RS Prasad

    Congress playing communal card in Karnataka: RS Prasad

    The prime minister said a Congress leader even called the Army chief a " goonda " (gangster) after the surgical strike. He said, "Congress is polarising the society of Karnataka".
    Lion mauls South African sanctuary owner in enclosure

    Lion mauls South African sanctuary owner in enclosure

    The video shot at the wildlife park showed the British man entering the lion's enclosure equivalent to the big cat's den. The lion drags the man farther into the enclosure, into some bushes and onlookers scream for help.
    US, Saudi Arabia ask Palestinians to talk to Israel

    US, Saudi Arabia ask Palestinians to talk to Israel

    Mohammed Bin Salman , Saudi Arabia's crowned prince, said Palestinians should accept the peace conditions imposed by U.S. President Donald Trump or " shut up and stop complaining ", during a meeting with heads of Jewish organizations in NY .
  • Gas prices hit highest point since 2014

    Gas prices hit highest point since 2014

    According to AAA , the national average gas price on April 30 is $2.81, the highest since November of 2014. The U.S. has 1.1 million fewer barrels of oil than it did this time previous year , according to the AP.

    Lonmin Plc (LON:LMI) Weekly Ratings as of May 1, 2018

    In a research report issued on Tuesday morning, Peel Hunt maintained their Buy rating on Wentworth Resources (LON:WRL) shares. Plus500 Ltd. develops and operates an online trading platform for retail clients to trade contracts for difference.
    Dhoni, Watson set up another thrilling win for Super Kings

    Dhoni, Watson set up another thrilling win for Super Kings

    The Super Kings skipper was able to complete a third half century of the IPL-11 with a double off the final ball of the innings. But at death, Bravo was taken apart, after spinners had done the job of keeping things tight in the middle overs.

Brexit: The government's customs options Brexit: The government's customs options Asked whether there were other options, her spokesman said: "Work has been ongoing on two options, that work has been proceeding". President Donald Trump meets with British Prime Minister Theresa May during the U.N.

Differing Views on Strength in US Manufacturing Sector for April Differing Views on Strength in US Manufacturing Sector for April The contraction quickened to a solid pace that was the fastest since the end of 2017. The reading for April was the weakest since March 2017.

Supreme Court collegium defers decision on Justice KM Joseph's elevation Supreme Court collegium defers decision on Justice KM Joseph's elevation The government on 26 April declined to accept the recommendation of the collegium and asked it to reconsider his name. Firstly, a proper (BJP-led) government with almost three-fourth majority has been elected in Uttarakhand.

Dominican Republic establishes ties with China, breaks with Taiwan Dominican Republic establishes ties with China, breaks with Taiwan The Chinese regime planned to "punish" Taiwan by snatching away the democratic island nation's last remaining diplomatic allies. However, Taiwan has struggled to compete with an increasingly wealthy and powerful China.

Conor McGregor posts picture online working out with Dee Devlin Conor McGregor posts picture online working out with Dee Devlin Dana White vows that that the UFC will punish its superstar ... but only after a New York City court weighs in on him first. Whether it comes to fruition or not, UFC 227 would offer an attractive landing for Diaz's return.

Gerrard says to resume Rangers manager talks this week Gerrard says to resume Rangers manager talks this week The 37-year-old's only previous coaching experience has come at Liverpool , where he has spent almost a year managing the Under-18s side.

Prince Louis's birth certificate has been revealed Prince Louis's birth certificate has been revealed Every baby gets a birth certificate when they're born - and Prince Louis is no different. "The baby weighs 8lbs 7oz". If you skip to 4.30 in the video from 2011, she'll explain just exactly how to pronounce her third child's name.

Severe Weather Potential Increasing Severe Weather Potential Increasing With the warmth building during the midweek, it will suddenly feel like summertime in the Northeast by Thursday and Friday. Another round of severe weather is possible for Wednesday, but the threat becomes more widespread across northeast Kansas.

UN Security Council envoys hear of rapes, murders from refugees UN Security Council envoys hear of rapes, murders from refugees He said the United Nations should understand it has a stake, too. "It' is unconscionable and it can not be continued any longer". The Prime Minister said Bangladesh does not want any conflict and it is trying to have a peaceful resolution to the problem.

Australia: Cardinal George Pell to stand trial on sexual abuse charges Australia: Cardinal George Pell to stand trial on sexual abuse charges The economy minister's lawyers have previously declared their client would plead not guilty to all charges. The pre-trial process will start at Melbourne's County Court at 9 a.m. local time Wednesday.

John Kelly says reports he called Trump 'an idiot' are 'total BS' John Kelly says reports he called Trump 'an idiot' are 'total BS' What do you think that is filled with? Kelly has denied the whole NBC report , calling it "BS" in a statement . In February, Kelly came under fire for his role in the ousting of former White House aide Rob Porter .

Jets S Jamal Adams roasts Bills QB Josh Allen on Twitter Jets S Jamal Adams roasts Bills QB Josh Allen on Twitter One of the them is the big 6-5, 314-pounder from Virginia Tech, Wyatt Teller . "Those guys are great". General Manager Brandon Beane said all the right things about Allen being a starter now, or later.

Juve score twice in last five minutes to sink 10-man Inter Juve score twice in last five minutes to sink 10-man Inter Chievo were awarded a penalty in the 56th minute when Roma defender Juan Jesus hauled back Roberto Inglese in the penalty area.

Australia government pledges AU$500m to protect Great Barrier Reef Australia government pledges AU$500m to protect Great Barrier Reef They'll improve water quality, control the reef's main predator, and expand the restoration of damaged reefs. An aerial survey has revealed that large portions of the Great Barrier Reef have suffered from bleaching.

Cardinals draft former East Lake High star Mason Cole Cardinals draft former East Lake High star Mason Cole Though Larry Fitzgerald has shown no signs of slowing down, despite his age, time gets the best of all of us eventually. Cornerback Chris Campbell was selected by the Arizona Cardinals as the 182nd pick in the 2018 NFL Draft.