Saturday, 18 August, 2018

Tesla booted off fatal Model X crash investigation

Tesla booted off fatal Model X crash investigation Tesla booted off fatal Model X crash investigation
Nellie Chapman | 13 April, 2018, 23:20

As of the end of 2017, Tesla reported more than $850 million in customer deposits, including for the Model 3. It continues to target a production rate of approximately 5,000 Model 3 cars per week in about three months, "laying the groundwork for Q3 to have the long-sought ideal combination of high volume, good gross margin and strong positive operating cash flow", Tesla said in a first-quarter vehicle production report on April 3. Now it's just boring (sigh).

The name seems all but official, with Musk referring to Model Y in tweets and a job listing for Tesla requested a programs engineer "responsible for designing, developing and delivering prototype level components and systems for the Tesla Model Y program as well as future Tesla product programs".

Elon Musk gave detailed financial guidance for Tesla - in a tweet at 1:11 a.m. PT Friday - boosting the electric vehicle maker's stock. JPMorgan Chase set a $190.00 price objective on shares of Tesla and gave the company a sell rating in a research note on Thursday, February 8th.

Federal investigators forced Tesla out of the probe of a deadly crash in California last month involving the electric carmaker's autopilot system. Envestnet Asset Management Inc. boosted its stake in Tesla by 20.9% during the 4th quarter.

The Model 3 is Tesla's latest and cheapest auto but the company has run into trouble meeting its 5,000 vehicle per week manufacturing goal.

That included news that the company was facing a probe by the National Labor Relations Board accusing it of improperly dismissing nearly 1,000 factory workers, allegedly due to support for a union at Tesla's Fremont, California plant.

Tesla's announcement late on Wednesday in California came after the company publicly blamed the driver for the crash and made statements about the incident that drew criticism from the NTSB. The NTSB chafed that Tesla improperly released incomplete data without authorization. And during a CBS interview this week, Musk suggested that things are moving in the right direction.

David Friedman, a former NHTSA acting administrator who now is director of cars and product policy for Consumers Union, the advocacy arm of Consumer Reports, said the Tesla-NTSB spat could delay the investigation if the agency doesn't have all the electronic information it needs from the company.

"You started saying, 'We'll do 5,000 a week.' Then, okay, that didn't work out, 'We'll do 2,500 a week.' And now it's a little over 2,000 a week".

But not everyone is convinced.

The change from Model S and Model X to Model 3 has been hard, which led Musk to coin the term "production hell". The conquest of Mars, according to Elon musk, will be held in two stages. Tesla, which has struggled with production issues since the all-electric sedan launched previous year, said Musk would focus his time on improving production.

"Well, it's actually, we've always released the results...."