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Tesla overtakes GM to become the most valuable US car maker
Tesla just managed a symbolic but important win in its quest to make electric cars popular. Shortly after the start of trading on April 10th, Tesla's stock market cap overtook that of GM -- it was worth about $51 billion, or $1.7 billion more than its established rival. While it's not clear that this will last (we've seen some give and take as of this writing), it's no mean feat for a company that has made just three car models in its brief 13-year history. The big question is whether or not Tesla can back up that value with raw sales numbers.
Tesla Model S breaks acceleration record with Ludicrous Mode
Tesla's Model S P100D is the fastest accelerating production car in the world, thanks to a Spaceballs-inspired software update. In a recent Motor Trend test, the Model S P100D hit 0-60 mph in 2.275507139 seconds using a new Easter egg mode called Ludicrous+. No production car has ever cracked 2.3 seconds during the magazine's testing, it said. That's faster than Tesla's original promise of 2.5 seconds, and faster than the 2.389 second time recorded by the Tesla Racing Channel in January.
Tesla will have 'major' car revisions almost every year
If you're a Tesla buyer, you were probably miffed when you realized that the self-driving hardware revision rendered your car obsolete, even if it was just weeks old. However, you're going to have to get used to that feeling if you're going to stick with the brand. Tesla founder Elon Musk is telling customers that there will be "major" revisions every 12 to 18 months -- not quite yearly, but far more frequently than the every few years (at best) you see from conventional companies. He adds that retrofits would slow the company's progress "dramatically." For example, adding self-driving tech to earlier vehicles would require stripping the "entire car" and replacing 300 parts.
Tesla's master plan was realized in 2016
Tesla started in 2006 as a niche electric sports car manufacturer. Its 2008 Roadster had an insane range of 244 miles and an equally bonkers price of more than $100,000. It was the first step in CEO Elon Musk's 2006 master plan to eventually bring a high-range, reasonably priced EV to the masses. Ten years later, that strategy is finally about to pay off.
Tesla buys an engineering firm to meet Model 3 production goals
Tesla is going to need to make a lot of cars if it's going to fulfill all those Model 3 pre-orders... 500,000 per year by 2018, to be exact. And it's making a big purchase to help it reach that lofty goal. The company is acquiring Grohmann Engineering, a German firm specializing in automated manufacturing. The buyout (which creates Tesla Grohmann Automation) should give Elon Musk and crew more of the expertise and systems they need for high-volume production not only at the Gigafactory, but elsewhere in the world. Grohmann will serve as the base for Tesla's Advanced Automation Germany facility, with more locations coming.
Tesla posts its first profit in two years
Tesla is having a good month. Last week it announced that all the cars it produces will have the hardware needed for fully autonomous driving. O Friday it's holding an event in Los Angeles where it's expected to unveil a solar panel-filled roof for those cars. Plus it turns out that the the Model S saw a 59 percent sales bump year-over-year last quarter. To top it all off, the company just posted a profit of $21.9 million for the third quarter.
Tesla brings self-driving hardware to its entire fleet
If you're wondering if the Model 3 will be ready for our eventual autonomous future, wonder no more. Tesla announced that beginning today, all the cars it builds will have the necessary hardware to drive completely on their own if the owner decides they want to enable the option. The full self-driving hardware suite will cost an additional $8,000.
Tesla's electric car deliveries surge by 70 percent
Tesla didn't have the best spring thanks to sub-par deliveries, but it made up for that in style this summer. The company reports that it delivered 24,500 electric vehicles in the third quarter, or a whopping 70 percent more than it did in the second quarter -- and over twice the 11,580 it shipped a year earlier. It's not simply a matter of clearing a backlog, either, as production was up 37 percent (to 25,185 cars) over the second quarter.
