Thursday, 19 October, 2017

Tesla Model 3: almost 63000 bookings cancelled, here's why

Tesla Model X Home News NewsTeslaThe Green Report Tesla drops the Model X price to $79,500 By Marc Carter
Delores Daniels | 08 August, 2017, 00:46

Elon Musk-led Tesla is counting on the Model 3, its least pricey vehicle, to become a profitable, mass market manufacturer of electric cars. Selling five million shares at a 15 percent discount to market would raise the same $1.5 billion and dilute Mr. Musk's 20.4 percent stake by only 3 percent, assuming he didn't pitch in more himself.

The company said it used up $1.16 billion of cash during the quarter, but it has $3 billion cash on hand, enough for "sufficient liquidity".

In addition to this recent news, Chinese companies are also poised to make a substantial impact on battery production in the future. Tesla owner Elon Must was among the first to congratulate the Italian Tesla owners club.

Now you can get a Tesla Model X for $3,000 less than previous pricing, and if you opt for a performance Model S or X, you'll enjoy newly standard features. Shares of the Palo Alto, California-based EV maker are up by over 9.5% since the latest earnings announcement and a large part of the rally is attributable to positive management commentary on the Model 3 launch.

Tesla Motors' mass market electric sedan, the Model 3 has got a dream start in April 2016 with almost 3.5 lakh bookings with hours after unveil.

Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $386.99. Finally, CENTRAL TRUST Co raised its position in Tesla by 14.8% in the first quarter. Luck might be on your side today as Tesla has lowered the price of the Model X SUV to $79,500. Tesla is locked in to a take-or-pay contract with Panasonic, which Kelty negotiated. Cell pricing is publicly opaque, however, and absent Tesla disclosures any effect would be hard for outsiders to determine.

Tesla recently started installing solar roofs and is pairing that business with sales of Powerwall batteries that can store that energy and power homes.

He also acknowledged in a conference call with analysts that it was "crazy hard" to predict how if Tesla would encounter problems in manufacturing the Model S, though he expressed confidence the company would meet its goals.

© 2017 Los Angeles Times under contract with NewsEdge/Acquire Media.

By all accounts, this new mileage record did not come easily. However, the post-earnings sell side commentary from other Wall Street analysts has been more encouraging.

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