|From: Eric||11/18/2020 1:07:58 PM|
| Tesla (TSLA) starts hiring for its first full-scale battery cell factory |
Nov. 18th 2020 1:01 pm ET
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Tesla is starting to hire leadership positions for its first full-scale battery cell factory at Gigafactory Berlin in Germany.
At its ‘ Battery Day‘ earlier this year, Tesla unveiled its own battery cell, the Tesla 4680, and explained its plan to produce its own battery cells for the first time.
Tesla is currently ramping up production at its pilot production line in Fremont.
As we previously reported, Tesla has designed the entire production system called Roadrunner in-house and it is currently using the production line to improve on its machinery with the goal to deploy a full-scale factory using the production system.
Tesla is believed to be planning to deploy these full-scale battery cell factories at its current Gigafactory projects in Berlin, Texas, and China.
Based on how construction has been progressing, it looks like the battery factory in Berlin is going to be the first one ready.
Now Tesla is looking to hire people to lead the battery cell manufacturing effort in Berlin.
Drew Baglino, SVP of Powertrain and Energy Engineering at Tesla and the defacto CTO of the company since JB Straubel left, posted on LinkedIn about the new hiring effort:
“Accelerate the transition to sustainable energy by joining Tesla’s cell manufacturing effort in Berlin, recruiting for leadership positions now.”
Here are the three roles that Tesla is looking to fill right now:
As we recently reported, CEO Elon Musk went to Tesla Gigafactory Berlin to boost the hiring effort and even interviewed candidates personally.
However, he was specifically hiring for his “25 guns” team, a 25-person Tesla engineering task force to fix problems at Gigafactory Berlin.
Tesla hasn’t provided a clear timeline for the start of battery production at Gigafactory Berlin, but it is expected to start around the same time as vehicle production, which they officially aim to achieve in July 2021. That’s because the automaker plans to use its new structural battery pack technology to produce the Model Y in Berlin and that requires the new 4680 battery cells.
However, Tesla said that it will support the production of the European Model Y with battery cell production at its pilot production facility.
While it’s officially only a pilot production facility to tune its battery cell manufacturing system for bigger factories, like the one in Berlin, Tesla still aims to have an annual production capacity of 10 GWh at the facility.
That’s more than most battery factories can produce today and should be very useful early in the production ramp of Tesla’s battery cells and Model Y in Berlin.
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|From: Eric||11/18/2020 2:30:07 PM|
|Buy Tesla Stock Because It's a Tech Play Beyond Just Cars -- Barrons.com|
10:52 AM ET 11/18/20
|2:28 PM ET 11/18/20|
|Real time quote.|
By Al Root
Tesla stock caught a ratings upgrade just days after the announcement that it will join the S&P 500 index in late December. The upgrade also comes after the stock is up 530% over the past year. It's a bold call, but Morgan Stanley analyst Adam Jonas believes Tesla is morphing into much more than an auto maker.
Jonas took his Tesla (ticker: TSLA) rating to the equivalent of Buy from Hold, and his price target to $540 from $360. What's more, his best-case scenario for shares is $1,068 a share, up more than 100% from recent levels.
"Tesla is on the verge of a profound [business] model shift," wrote Jonas in a Wednesday research report. "For the first time, we are adding software [and] connected vehicle services revenue to our earnings forecast and base-case valuation."
Tesla's network services business, for Jonas, includes things such as full self-driving software -- which is sold separately -- along with infotainment packages and vehicle-performance upgrades. Eventually, as Tesla's installed base of vehicles grow, Jonas sees it contributing up to 20% of Ebitda, short for earnings before interest, taxes, depreciation, and amortization. He values the business, in his base case, at roughly $160 a share, accounting for the majority of his Wednesday target price bump.
It's quite a reversal for Jonas. He rated Tesla stock at Sell with a $120 price target back in June.
Now he writes, "To only value Tesla on car sales alone ignores the multiple businesses embedded within the company." Tesla also sells insurance, plans to start a ride-sharing business and has a solar and stationary battery power storage businesses as well. Tesla plans to manufacture EV batteries too.
It's a new paradigm for valuing auto makers. Traditional investors in General Motors (GM) or Ford Motor (F) are used to valuing the auto-finance business, but struggle to value other businesses. GM, for instance, has an autonomous-driving division called Cruise. It also is negotiating an agreement with Nikola (NKLA) to supply battery and fuel-cell parts. Still, GM is valued at less than 8 times estimated 2021 earnings.
Tesla stock trades at roughly 117 times estimated 2021 earnings. Tesla, of course, is growing earnings rapidly.
In his best-case scenario, Jonas values Tesla stock at 15 times estimated 2023 sales. That works out to a value of about $462 a share for the car business, and $318 a share for the connected-services business. Software is worth about 70% of car manufacturing, according to Jonas.
The rest of the value comes from insurance, battery supply, ride sharing, and stationary power, as well as all the other business embedded inside of the company.
Tesla stock is up 2.7% in Wednesday trading. The S&P 500 and Dow Jones Industrial Average, for comparison, are up 0.2% and 0.5%, respectively.
Tesla stock is trying to break out of a recent range predominating since early September. S&P 500 indexation along with analyst upgrade might help the stock retest recent highs of about $500.
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|From: Sr K||11/20/2020 1:06:29 AM|
Tesla Model S passes test as police car for Fremont, saves $4,000 in fuel cost
The Fremont Police department has released a report on its use of a Tesla Model S as a police patrol vehicle, and they said the electric car passed the test.
The electric car has saved them $4,000 in fuel cost in a year.
In 2018, Fremont’s police department bought a used 2014 Tesla Model S 85 for $61,478.50 (including taxes and fees) to replace a 2007 Dodge Charger that was being retired in their fleet.
Their goal was to turn it into a police patrol car to see if the electric car fits the needs of a patrol vehicle and cut gas costs.
It went through their regular police patrol testing and was put on the road last year.
After being on the road for more than a year now, the Fremont police department has released a full report on their experience with the Model S, which they deemed successful.
Here are some of the key findings from the report:
Proved sustainable with zero-emissions, eliminating 42,198 lbs. of CO2 from Fremont air annually
Annual costs of energy/fuel and maintenance/repair was reduced by $2,147 vs. a gas Ford police pursuit vehicle (PPV)
Reduced the annual cost of fuel that would have been required for a traditional gas-powered police vehicle by $4,097
Remained in service 27 more days than a conventional PPV, resulting in a significant reduction in repairs, maintenance, and downtime
The 265-mile range of the Tesla easily accommodated the 40-70 mile range that patrol vehicles drive on average per day
Here’s a comparison between the Tesla Model S and a Ford gas-powered police patrol vehicle:
See link for details.
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|To: Savant who wrote (15914)||11/20/2020 11:53:39 AM|
|If needed, Musk will once again argue that Covid is BS as well as insisting that Tesla is an essential business. I suspect that local authorities will support him. Money talks ...|
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