Model S
In Hong Kong’s luxury car market, a Tesla is cheap
Tesla declined to reveal sales figures for Hong Kong, citing company policy. But Charged.hk, an EV enthusiasts group, estimates that there were 2,279 EVs on the road as of June, and that 70% of them were Teslas. Electric vehicles now account for about 3% of new vehicle registrations in Hong Kong.
Norway’s electric-car incentives were so good they had to be stopped
This week, all the major political parties in Norway met and agreed that electric cars will no longer get as easy a ride, according to AFP. Owners will have to pay half of the road tax from 2018 and all of it from 2020. VAT exemptions will also be replaced by a subsidy, which will probably be revoked over time. And local authorities can now decide whether to offer free parking, exemption from tolls, and the use of bus lanes.
Tesla's Model S Seat Belt Recall Isn't Actually a Big Deal
Tesla says it has not found the problem in any other car it’s inspected, and “decided to conduct a voluntary recall as a proactive and precautionary measure.” Customers can book a free vehicle inspection online or by phone. This recall covers about 90,000 cars, according to Reuters, and any necessary repair should take just a few minutes.
Model X
Tesla's Model X starts at $80,000, and preorder customers can finally choose their options
It'll still be many months before Tesla is able to fill all the orders for its Model X crossover, but at least would-be owners are now able to choose options and colors for their cars: the company announced this afternoon that "general production" Model X customers can go through the configurator, where the vehicle starts at $80,000. Buyers can choose between 70D, 90D, and P90D versions, which represent different battery capacities and performance levels. All Model X variants are all-wheel drive.
Tesla Model X Buyer Finds Hidden Doubly Quick 72A On-Board Charger Option
“We are still recommending the 48-amp AC charger so we hid the High Amperage Charger Upgrade option,” said a Tesla representative of an irrevocable choice that costs Tesla $1,000 per order not to sell, and which locks in a slower AC recharge rate for the life of the Model X. This discovery was made this week by a buyer who found the option not immediately presented by the online configurator Tesla calls its Design Studio. The revealed option lets buyers select a 72-amp on-board charger that could potentially chop recharge times by as much as half compared to the standard 48-amp OBC.
TSLA
Tesla: This Could Be Next Year’s Biggest Catalyst
2016 is a much cleaner year, which enables operating leverage: The biggest future catalyst we see is Tesla generating significantly higher earnings and reducing the cash burn. From $2.30 annualized loss in 3Q15, we estimate 36k incremental Model X units will drive $7 of incremental EPS. This, plus better Model S margin, offset by lower-than-consensus SG&A / R&D growth means that $4 EPS (vs consensus $1.86) and a reduction in full-year FCF burn to ~$500MM is achievable…although we think even hitting consensus numbers in 2016 would be a substantial catalyst.
Other News
A Car Dealers Won’t Sell: It’s Electric
So why are only about 330,000 electric vehicles on the road? One answer lies in an unexpected and powerful camp of skeptics: car dealers. They are showing little enthusiasm for putting consumers into electric cars.
SpaceX goes ahead with its Hyperloop prototype – building a 1-mile long 99.8% vacuum tube by summer 2016
SpaceX is moving forward with its Hyperloop prototype test track for its “pod competition”. The company released the revised specifications of the test track (embed below) in which the competing teams will race their pods. The track will be 1-mile long , have a 6-ft diameter and be capable of creating a 99.8% vacuum environment.
Promotion
Limited Time Offer: Save $1000 on a new Model S
New Model S orders in the U.S. are scheduled for Late December delivery.