Model S
Tesla to introduce new ‘Supercharger Credit’ system to reduce entry price of Model S & X
Sources familiar with the program have told Electrek that Tesla is about to introduce a new Supercharger Credit program to unbundle the cost of Supercharger access from the vehicle and consequently, lower the entry price of the Model S and X while ensuring that the value of the Supercharger network is better represented by the pricing model. The update could coincide with the release of OS 8 or 8.1.
Looks like Tesla is not only trying to prepare for the massive Model 3 rollout that could potentially clog superchargers but Tesla is also looking to reduce the base price of the Model S and X by removing the unlimited supercharger option. It's unclear if the unlimited supercharger option will be removed altogether or if it will become a paid option.
Tesla enters car insurance business as self-driving cars prepare to disrupt the industry
Electrek has learned that Tesla is entering the car insurance business starting with new programs in Australia and Hong Kong. The new program is called InsureMyTesla and it features custom insurance plans for the company’s vehicles underwritten by bigger insurers partnering with Tesla. In Hong Kong, Tesla is partnering with AXA General Insurance and in Australia, the automaker released its new plan with QBE Insurance.
Model X
Tesla fixes phantom detection problem with Model X’s Falcon Wing doors, but increases pinch risk
With its latest firmware update for the Model X, Tesla fixed a recurring problem owners had with the Falcon Wing doors. The doors would often stop in the middle of their opening or closing process because of “phantom detection” – detecting a non-existent obstacle. But now Tesla’s fix appears to increase the risk of pinching and some owners are voicing their concerns and calling the new feature dangerous. In the software update v7.1.2.23.100, Tesla reduced the sensitivity of the inductive sensors located in the roof panel of the Falcon Wing doors. By reducing the sensitivity, the automaker appears to have mostly fixed the phantom detection issue, but now it looks like it had the consequence of also not detecting real obstacles between the door opening and roof.
Model 3
Korean suppliers struggling against Tesla’s gag order
The reason Tesla is looking toward Korea despite the constant breach of confidential information is because of the price competitiveness Korean suppliers offer. For the upscale Model S and Model X, Tesla partnered with Japanese firms, but for the Model 3, it is looking to cut more costs. “A battery pack makes up almost half the price of a Tesla car. In order to reduce the car price, the carmaker has no other option but to cut costs on parts,” said Kim Pil-soo, an automotive engineering professor at Daelim University. “Korean firms offer quality parts at cheaper prices, while their Chinese rivals still lag behind in terms of technical sophistication.”
Autopilot
Tesla Autopilot with new v8.0 software update is able to handle highway interchanges
That means that with v8.0, Autopilot will be able to automatically (always under the driver’s supervision) drive from one highway to another with the simple activation of the turn signal. When the Autosteer feature of the Autopilot is engaged, the driver will be able to activate the turn signal to exit the freeway and Autosteer will follow the interchange into the next highway.
Tesla will soon introduce new Autopilot safety restrictions after recent accidents
Now we learn that Tesla is about to introduce a new restriction with the upcoming v8.0 software update to give more weight to the alerts. According to sources familiar with the Autopilot program, Tesla will add a safety restriction that will result in not only the Autopilot disengaging after alerts are repeatedly ignored, but also blocking the driver from re-engaging the feature after it was automatically disengaged. The driver will not be able to reactivate the Autopilot until the car is stopped and put in ‘Park’. So far, it looks like it would only affect the Autosteer feature of the Autopilot and TACC would still be available for the duration of the drive. The goal of the new restriction appears to be to encourage Tesla owners to respond to the visual alert and not to ignore them.
TSLA
Elon Musk races to solve cash crunch at Tesla, SolarCity
SolarCity is burning cash rapidly. The company's cash stockpile plunged to $146 million at the end of June, down from $489 million last year. For its part, Tesla (TSLA) revealed in a new filing this week that it owes $422 million to bondholders this quarter. These combined financial obligations are forcing Tesla to raise more cash, on top of the nearly $2 billion it raised via a stock sale as recently as May. Tesla said on Wednesday it plans to either sell more stock or bonds before the end of the year, but didn't say how much.
Lazard made mistake on SolarCity Tesla deal
Lazard Ltd, the investment bank that advised SolarCity Corp. on its $2.6 billion sale to Tesla Motors Inc., made an error in its analysis that discounted the value of the US solar-energy company by $400 million, a regulatory filing by Tesla showed on Wednesday... An analysis by Lazard for SolarCity that indicated an equity value of $14.75 to $34.00 a share was wrong because it double-counted some of the company's projected indebtedness, according to Tesla's filing with the US Securities and Exchange Commission. After identifying the computational error on August 18, more than two weeks after the signing of the deal, Lazard realized the valuation range based on its discounted cash-flow model was $18.75 to $37.75 a share.
Elon Musk
Here’s what we know about the SpaceX explosion
This morning around 9:07 am ET, SpaceX experienced a devastating explosion while completing a routine static test-fire in preparation for a launch on Saturday. Luckily, no injuries were reported, but the payload, the Amos-6 satellite, was on the Falcon 9 at the time and was also destroyed. A nearly $200 million satellite, Amos-6 was set to be launched to geostationary orbit and provide internet to various locations in Africa as part of Facebook’s Internet.org initiative.
SpaceX begins Hyperloop test track construction
SpaceX has finally begun construction of its one-mile Hyperloop test track at its headquarters in Hawthorne, California. Reddit user 42finder posted an image Thursday of the Hyperloop test tubes located across from the company's headquarters. SpaceX confirmed it was building the track.
Other News
Will Amazon Kill FedEx?
With any other company, an expansion like this would be preposterous. But Amazon’s growth has been preposterous. In 2010 its annual revenue was $34 billion; last year, $107 billion. In 2010 the company employed 33,700 workers. By this June, it had 268,900.
Great article detailing Amazon's amazing growth and also their ambitions to be king of transport. Amazon is gaining planes, truck trailers, distribution centers, delivery cars/drivers, etc. And it's probably almost a matter a time before Amazon is tempted to transport people in what will likely become a crowded transportation-as-a-service space (Uber, Google, Tesla, Amazon, Apple, etc).