CEO Elon Musk says Tesla will need more factories

By Marco dell Cava, USA Today

With four electric vehicle models either on sale or in development, Tesla CEO Elon Musk said Tuesday that the growing brand may be required to build at least three and "possibly as many as 10 or 20" new factories to keep up with expected demand.

Tesla's first mid-priced car, the Model 3, is due to start deliveries later this year. At Tuesday's shareholders' meeting, Musk talked about the next vehicle in development, the Model Y, crossover, and predicted that it will see the highest demand of any Tesla when it arrives in 2019.

It's a bold prediction given the more than 400,000 reservations that Tesla has already taken for the Model 3. In addition, Tesla offers two current luxury vehicles, the Model S sedan and Model X crossover. Complicating production issues, the Model Y won't be built on the same chassis as the Model 3, he said.

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Tesla has the greatest story in the history of cars — and that should terrify automakers

By Matthew DeBord, Business Insider

The auto industry is huge and touches the lives of almost everyone on the planet. But it's surprisingly devoid of truly gripping stories. 

In fact, you can almost draw a straight line from Henry Ford to Elon Musk, with perhaps a few detours toward Enzo Ferrari, Preston Tucker, and John DeLorean along the way. 

What Tesla's original founders and later Musk as CEO of the 13-year-old carmaker have achieved is simply astonishing — unprecedented, really.

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Here are the new Superchargers Tesla is adding in 2017 (8 in Michigan!)

Here are the new Superchargers Tesla is adding in 2017 (8 in Michigan!)

By Arielle Berger, Business Insider

Tesla announced in April that it will be doubling the amount of Superchargers worldwide from 5,000 to 10,000 as they prepare for their first mass-market electric vehicle, the $35,000 Model 3.

According to Tesla, some stations will have the capability to charge several dozen Teslas at once, and others will be built further from the highway in an effort to make charging "ubiquitous in urban centers."

Here's a map of all the current and upcoming Superchargers. Current Superchargers are red and upcoming superchargers are gray. Zoom in to find Superchargers in your area.

Tesla is the next Apple (Except there are Apple Stores In Michigan- MIF2B note)

Tesla is the next Apple (Except there are Apple Stores In Michigan- MIF2B note)

By Gene Munster, Doug Clinton and Andrew Murphy for Loup Ventures

Apple is the world’s largest company with a market cap of nearly $770 billion as of this writing. Tesla is one of the world’s largest automakers with a market cap of close to $55 billion, although we think the Tesla story is just getting started.

There are many parallels between Apple about a decade ago and Tesla today, market cap being one of them.  In Q4 2005, Apple’s market cap was close to where Tesla’s is today ($54 billion). A decade from now, we think we’ll look back at Tesla and realize it was the next Apple.

There are five major similarities to Tesla today and Apple in the mid-2000s:

Brand
Visionary leadership
Integrated hardware and software
Halo effect
Reshaping a market 

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Tesla amps up number of Supercharger stations in Michigan

By Tom Randall, Bloomberg News; Detroit News staff writer Melissa Burden contributed

Tesla is going to need more chargers. Lots of them...

...Michigan is set to receive eight new locations, according to a map of upcoming U.S. Supercharger locations. Superchargers are planned for Traverse City, Lansing, Battle Creek, Ludington, St. Clair Shores, Livonia and Auburn Hills by the end of the year. A station also is slated for Grayling with no timeline given.

Tesla has Superchargers in Cadillac, Grand Rapids, Bay City, Port Huron, St. Joseph and Ann Arbor. The automaker has been challenging Michigan law that prevents the company from selling cars here.

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(Except In Michigan) Tesla is building stores all over the world ahead of the Model 3 launch

By Cadie Thompson, Business Insider

Tesla is about to significantly expand its retail presence. 

Ahead of the Model 3 launch, the company is planning to add about 100 retail, delivery, and service locations around the world. This is about a 30% increase in facilities, the company said its first quarter investor letter.

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Tesla powers ahead: Our view

The Editorial Board, USA Today

In taking on entrenched auto dealers, upstart carmaker becomes a champion of free enterprise.
These days there is nothing particularly unusual about high-flying tech companies. They often take off like rockets, sometimes falling back to earth, but sometimes achieving lofty heights and reinventing whole industries.

Thirteen years ago, for example, Facebook was a couple of guys in a dorm room. Today, its valuation of $404 billion is larger than the annual economic output of Thailand.

But electric car maker Tesla, which briefly surpassed General Motors this week to become America’s most valuable auto company, brings something new to the conversation. No company has had to fight harder for the right to do business as has Tesla.

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G.M. Takes a Back Seat to Tesla as America’s Most Valued Carmaker

By Bill Vlasic, The New York Times

DETROIT — By almost every measure, General Motors has been on a roll.

Its bellwether pickups and sport utility vehicles have hit the sweet spot in a record-setting American market for two years. The company is steadily increasing profits and revenue. And President Trump has vowed to ease regulations and put cars at the forefront of his crusade to add manufacturing jobs.

In short, G.M. has come a long way from a near-death experience eight years ago, when it filed for bankruptcy and needed a $49 billion government bailout. But apparently investors have yet to be convinced that G.M., the nation’s largest automaker, has put its troubled past behind it.

In a sign of how the industry’s future is being reimagined, the electric-car maker Tesla passed G.M. on Monday as America’s most valuable auto company.

With its stock gaining more than 3 percent for the day to $312.39, Tesla has a market capitalization of $50.9 billion, just a hair ahead of G.M.’s.

While the rise of Tesla is based on prospects rather than profits, G.M. is being dogged by its checkered history, and a perception on Wall Street that its days as a dominant force are over.

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Howes: Burden of history weighs on Detroit vs. Tesla

Daniel Howes in The Detroit News

Don’t blame Tesla Inc. for becoming the most valuable American automaker Monday, if only briefly...

...Chairman Elon Musk’s Tesla is a different cat. He’s selling a vision of the future largely unencumbered by a legacy past — no unions and no plant closings, no bankruptcies and no asset sales, no long history of insular management standing astride reality yelling stop....

...Still, Tesla generates enthusiasm among its loyal customers (and whose who would be, witness the $1,000 deposits for its Model 3 running in the hundreds-of-thousands). If Musk can deliver on the promise to produce 500,000 copies of the new $40,000 model by the end of next year, it will redefine the industry.

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Tesla passes Ford in market value for 1st time, moves closer to GM

MLive.com

For the first time, Tesla Inc. passed Ford Motor Co. in market capitalization as the electric car maker raised its mark to $48.7 billion.  

Ford ended Monday's trading at $45.6 billion with General Motors resting at $51.2 billion, Bloomberg reports. 

Company CEO Elon Musk was not shy in poking the short-seller bears after jumping the No. 2 U.S. automaker in market value and moving closer to No. 1 General Motors. 

Read the entire story here

Tesla CEO Elon Musk likes advice he gets from Michigan 10-year-old

Detroit Free Press

How in the world does a fifth-grader give advice to a tech billionaire? Write a letter.

That’s what 10-year-old Bria Loveday of Michigan did. She wrote Tesla co-founder Elon Musk, telling him that he should hold a contest to see who can make the best homemade ad for the electric car company. She noted that many of Tesla’s fans already make homemade ads, and “they look professional and they are entertaining.”

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Tesla will start making mass-market Model 3 in July

By Chris Woodyard , USA TODAY

Tesla's most affordable option, the highly anticipated Model 3, can do 0-60 in under 6 seconds and get at least 215 miles per charge.

Tesla offered assurances Wednesday that the launch of its first mass-market electric car, the Model 3, remains on track as it issued fourth-quarter results that cut its losses and beat revenue estimates.

Investors were cheered. Tesla shares rose 1.5% in afterhours trading to $266.67 a share, up $4.16.

The electric car maker is under intense scrutiny as it transitions its focus from its two current vehicles, the luxury Model S sedan and Model X crossover, to its high-production model. It said in its earnings release that Model 3 is "on track" with limited production due to start in July.

It plans to keep ramping up Model 3 production until it hits 5,000 cars a week in the fourth quarter and 10,000 vehicles a week in 2018. Tesla has taken more than 400,000 reservations for what could be a breakthrough car when it comes to electrification of the automotive industry. It will be expensive to start Model 3 production, with Tesla saying it will invest $2 billion to $2.5 billion to ramp up its factory.

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Column: Open direct Tesla sales in Michigan

By Rob Sisson in the Detroit News

The Michigan Legislature adjourned last year without addressing the antiquated law limiting new-car sales and now the risk increases that the birthplace of automotive innovation will be the last place on Earth embracing the future of new-car innovation and technology. That’s because Michigan is one of only a handful of jurisdictions on the entire planet where it is illegal for auto manufacturers to sell cars directly to consumers. Manufacturers are even barred from opening service centers in Michigan.

Everyone is aware that General Motors, Ford, Chrysler and other brands are sold through dealers, and that those dealers also have service centers to provide maintenance and repairs. Not everyone knows that state law grants auto dealers with a monopoly limiting consumer options.

Some car companies don’t want to follow that model. They want to sell directly to their customers and provide any needed service.

Read the entire column here

Tesla opens gallery showroom in Nordstrom Troy store

By Melissa Burden, The Detroit News

Tesla Motors Inc., which can’t legally sell a car in Michigan, has opened a gallery showroom at Nordstrom in Troy’s Somerset Collection where consumers can look — but not buy.

The Palo Alto, California-based electric carmaker on Thursday opened a 700-square-foot Tesla Gallery on the first floor of the department store, Nordstrom store manager Stephanie Johns said. Tesla confirmed the gallery, which is staffed with Michigan Tesla employees and showcases a single white Model X SUV, will be open for at least six months. It’s the first Tesla gallery in the state.

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Virginia DMV: Tesla can open store in Richmond

from Autoweek

Thanks to an earlier ruling being overturned, Tesla will build a dealership in Virginia's capital

Tesla notched a victory in the ongoing battle with states over dealership franchise laws.

In a decision released Wednesday, Richard Holcomb, commissioner of Virginia’s Department of Motor Vehicles, reversed a September ruling denying Tesla a dealership license to operate a store in Richmond.

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Dealer protections that ban Tesla from Michigan are meritless

By Dan Crane, Detroit Free Press, October 14, 2016


Michigan remains one of the shrinking number of states to prohibit a car manufacturer like Tesla Motors from opening its own showrooms and service centers and dealing directly with customers. Instead, Michigan requires car manufacturers to use franchised dealers for all customer transactions. Most other states have recognized that allowing consumers to choose between franchised dealerships and company stores is good for competition, innovation and consumer choice.

Read the entire opinion piece here

It’s not about Tesla, it’s about Michigan’s future

By Nathan Leamer, Detroit News, October 11, 2016

Michigan has made great strides in its dramatic rebound from the economic doldrums of the Great Recession, helped by efforts to reduce unnecessary red tape and to create an environment friendly to innovation and opportunity.

But unless state policymakers remain steadfast in challenging entrenched special interests and allowing new business models to flourish, this recovery may soon hit an arbitrary ceiling. Tesla’s struggle to bring their new approach to auto sales to Michigan is emblematic of why the state’s policymakers must embrace the future.

Read the entire opinion article here

Tesla, Michigan, and How To Save The American Car Industry

By Alex Roy, TheDrive.com

I shall now explain how to save the American car industry.

We begin with Keith Crain — Editor-In-Chief of Automotive News and Autoweek — who is simply wrong.

So wrong that I've written 2000+ words in response to his 419.

 

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Car dealers association says people like price haggling, customers say ‘Nope’

Yahoo News, October 7, 2016

If it were up to consumers, where would they prefer to buy a car? That is the question posed by the chairman of the National Automobile Dealers Association (NADA), Jeff Carlson, who answered his own question, saying consumers prefer the status quo conventional car dealer model, according to Electrek . A recent Harris Poll, suggests otherwise, that consumers are not satisfied with the traditional dealership model.

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Tesla exec says Michigan's ban on direct sales will deter investment

Greg Gardner, Detroit Free Press


A Tesla Motors executive said today that Michigan's denial of the electric car makers license to sell cars directly to consumers won't help a future bid by the state to attract a Tesla assembly plant.

Diarmuid O'Connell, Tesla vice president of business development, spoke Thursday morning at the World Mobility Leadership Forum at the Westin Metro Airport. He said Tesla has dozens, "if not hundreds of suppliers" in Michigan, including a tool and die operation in Grand Rapids, but that didn't help its effort to get a retail license.

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