Tesla shares plummeted. A lot of problems that plagued Tesla seemed uneding. Then Robert Murray accused Tesla Motors Inc, for being a 'fraud'. Then, two unexpected Tesla events are about to unravel no later than this month.
What has happened so far?
Tesla becomes a 'threat' for the oil and petroleum industry; boasts of 3,200 plus charging locations world wide
With 3,200+ Destination Charging locations worldwide, you can enjoy the French vineyards or Vermont's mountains, while charging your Tesla pic.twitter.com/a8oJ0A7OXk
— Tesla (@TeslaMotors) October 5, 2016
Experts have projected a decrease in gasoline demand of about 300,000 barrels per day. This was based on a report by Wood Mackenzie. You can view the entire report here.
Tesla drivers just passed 3 billion electric miles, saving the world 120M gallons of gas
'The banks haven’t’ been kind to Elon Musk’s company.
Bloomberg reported that the Goldman Sachs Group has downgraded the Fremont-based EV maker. This had come at the worst time. The former ditched a buy rate which made Tesla shares plummet for five weeks. David Tamberrino, an analyst from Goldman was interviewed by Bloomberg. Tesla shares are now down by 4 percent, from $185 to $240. You may read about his full analysis here. The downgrade Tesla Motors Inc., received hinted that the electronic car maker may have lacked in equity. This would’ve been a threat to the massive demand needed for the Model 3 production. However, Elon Musk, CEO of Tesla Motors Inc., has expressed his sentiments through twitter to tear down this speculation.
Tesla eyes and seeks approval of Fremont Factory expansion from local government
Robert Ferris from CNBC reported that Tesla is expecting feedback from ‘The Fremont Planning Commission’ and from the ‘Fremont City Council,’ regarding its factory expansion plan in the area. Bill Harrison, the Mayor of Fremont has expressed, “We are really excited.” He continued, “Tesla has been expanding in Fremont over the last few years, and we think the submission of this plan solidifies their investment in Fremont.” He further stated, “..but it also shows people that we can still manufacture in California.”
Tesla has been called a “fraud”
Yahoo Finance reported that Murray Energy Corp., CEO Robert Murray has called Tesla, a ‘fraud.’ Elon Musk, turned to twitter and even ‘tweeted’ about the incident. He responded, “Real fraud going on is denial of climate science. As for “subsidies,” Tesla gets pennies on dollar vs coal. How about we both go to zero?”
The ‘Auto-pilot’ controversy
Ohio native Joshua Brown died last May 7th. His death was confirmed to be the 1st due to Tesla’s ‘Auto-pilot’ system. Brown’s Model S car had hit a truck while driving in Florida. The Tesla S owner was allegedly watching a movie when the incident happened. The truck driver was left unscathed after the incident. Tesla was quick to refer to the incident as an isolated case.
The EV company stated that on a global average automobile fatality occurs every 60 million miles worldwide. That the blame shouldn’t be entirely placed on the ‘Autopilot.’ Tesla also reiterated the agreement that came with the ‘Autopilot.’ It was clearly stated that the system was still in a “public beta phase.”
The electric car company has kept on stressing that ‘drivers should keep their hands on the wheel.’ Rules have been set for the roll-out of the ‘Autopilot’ system. It was just 5 months since the first confirmed death that the ‘Autopilot’ was switched on.
Then another ‘Autopilot’ related crash happened in Europe. After an investigation, Germany’s Transport Ministry has straight-out declared Tesla’s ‘Autopilot’ function as a “considerable traffic hazard.” The Federal Highway Research Institute has carried out tests on the US-made electric car, according to Reuters. It made several criticism according to a German magazine.
What should we expect from Tesla Motors?
Last Oct. 9 Elon musk have unexpectedly announced, via ‘Twitter’ about two upcoming Tesla events in October. The first will be on the 17th for a surprise product unveiling. The other one on the 28th for a joint Tesla-Solar City event. This should not become as a surprise. The soon-to-be-unveiled product will just be literally a ‘Model Y’ replacement. This brings us to another update.
Tesla product unveiling on the 17th (unexpected by most), followed by Tesla/SolarCity on the 28th — Elon Musk (@elonmusk) October 9, 2016
Discontinuation of the ‘Model Y’
Their SUV compact crossover famous for its ‘Falcon Wing’ doors will soon be phased out. Though the initial Tesla EVs was received with enthusiasm, backlash soon followed suit.
Myriad of complaints poured in on how inconvenient the innovative door design has been. Tesla users aired their “door’ problems on internet forums, posted photos on ‘Social Media’
What do we expect?
Everyone is wishfully thinking an having high hopes that Tesla will deliver. Despite its consistent release date delays, fans remain un-faltered in their faith towards the EV maker. There has been very high anticipation towards the Model 3 release date. It has been speculated that Asia will receive their Model 3s first.
Musk is seen as a visionary compared to fellow automaker Henry Ford. The latter was known for making cars during his day available for everyone. Similarly, Musk’s Model 3 is his attempt to make EVs budget-friendly and within (financial) reach of the masses.
We all are just left waiting in awe just what will be this EV genius’ next step.
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