Redwood Materials, a battery recycling company founded by Tesla co-founder J.B. Straubel, has announced a $700 million investment round from external investors. The round was led by funds and accounts advised by T. Rowe Price Associates, Inc., and includes contributions from Goldman Sachs Asset Management, Baillie Gifford, Canada Pension Plan Investment Board, and Fidelity. Additionally,…
Following a blockbuster quarter that saw Tesla (NASDAQ:TSLA) post $1.1 billion of GAAP net income and $1.6 billion of non-GAAP net income, Morgan Stanley has published a note outlining its forecasts for the EV maker. Morgan Stanley analyst Adam Jonas was bullish in his note, stating that the bigger story in Tesla’s strong quarter was…
Tesla (TSLA) is currently implementing a major shift in its retail strategy, according to sources familiar with the matter. The automaker will move away from showrooms in fancy malls, and instead, it will focus on cheaper locations, remote managing of test drive fleet, and delivery centers. Tesla’s confusing retail strategies Since Tesla doesn’t use the…
If there is one thing that is evident with Tesla China, it is the fact that its legal team does not hold back. Whether it is a media outlet or a social media influencer, anyone or anything that spreads inaccuracies and false information about Tesla would be called out. This became a hard lesson for…
Tesla’s second-quarter results may be headlined by its $1.1 billion of GAAP net income, but its energy division achieved some incredible milestones as well. In Q2 2021, energy storage and solar deployments tripled year-over-year, hinting at strong demand for products like the Powerwall and the Solar Roof. Tesla noted in its Q2 2021 Update Letter that energy…
Today, Ford Motor Company announced that it will establish Ford Ion Park, an electric vehicle battery cell production and research and development facility. The Michigan automaker will stay in its home state for this new project, launching the site in Romulus, MI, keeping with its 2010 announcement to make the state Ford’s center of excellence…
Following Tesla’s (NASDAQ: TSLA) second-quarter Earnings Call that took place on Monday evening, analysts tasked with following the automaker’s stock have revised their price targets, working to unravel the massive beat that the company reported. Here is a quick rundown of what a few analysts are saying and how their outlook of the stock has…
It took some time, but it appears that the time has finally come for Tesla to attempt a legitimate lap record around the world’s most iconic racetrack, Germany’s “Green Hell,” the Nürburgring. And if recent spy photos of a Model S Plaid are any indication, it seems that Tesla is currently testing its flagship sedan…
Just recently, Elon Musk confirmed that Tesla’s Supercharger Network would be opened to other electric vehicles later this year. More details about this upcoming initiative were shared in the second-quarter earnings call, including the process involved for non-Tesla EVs to access a Supercharger station, as well as the pricing for the service. According to Elon Musk, owners…
Tesla recently revealed that Gigafactory Shanghai has fully transitioned to being the company’s primary export hub. Giga Shanghai has been instrumental to Tesla’s record deliveries this year, so it may not be surprising that it has become the company’s main export center. “Due to strong U.S. demand and global average cost optimization, we have completed…