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    • By Drew Dowdell
      Tesla is seeking to raise nearly $2.7 billion to add to its sagging balance sheet according to a filling.  It would offer 3.5 million shares priced at $243 per share and a $1.6 billion convertible debt. Elon Musk will be buying $25 million in shares and currently owns around a 20 percent stake in the company.
      Wall Street seemed to find this capital raise promising as it boosted shares 1.5% before the opening bell.  Analysts were calculating that Tesla, which burned $1.5 billion in Q1-2019 alone, would not have enough cash to continue working on its Model Y crossover and the new Tesla Semi-truck, and also getting production rolling in China. 
      In the backdrop of a sagging US auto market, Tesla has seen demand for its cars soften dramatically in the US over the past two quarters, though demand for EVs in Europe has increased.
       

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    • By Drew Dowdell
      Tesla is seeking to raise nearly $2.7 billion to add to its sagging balance sheet according to a filling.  It would offer 3.5 million shares priced at $243 per share and a $1.6 billion convertible debt. Elon Musk will be buying $25 million in shares and currently owns around a 20 percent stake in the company.
      Wall Street seemed to find this capital raise promising as it boosted shares 1.5% before the opening bell.  Analysts were calculating that Tesla, which burned $1.5 billion in Q1-2019 alone, would not have enough cash to continue working on its Model Y crossover and the new Tesla Semi-truck, and also getting production rolling in China. 
      In the backdrop of a sagging US auto market, Tesla has seen demand for its cars soften dramatically in the US over the past two quarters, though demand for EVs in Europe has increased.
       
    • By Drew Dowdell
      Tesla posted a $722M loss for the first quarter of 2019, higher than analysts expectations.  This was a swing from a 4th quarter 2018 profit of $139.5M.  Cash on hand is $1.5B lower than end of 2018, now $2.2B, partially due to a one time payment of $920M in convertible bonds that came due.
      Tesla says that is built 63,000 model 3s in the first quarter gearing up for overseas sales, though only 12,100 of those vehicle were delivered. Tesla is maintaining its projections of 360,000 to 400,000 vehicles total for the year. 
      Tesla recently announced updates to its Model S and Model X vehicles that allow them to travel further on a single charge and also charge up to 50% faster than before. These updates require the purchase of a new vehicle and cannot be simple downloads over the air.  They are also offering current owners who purchase a new Model S or Model X Performance model a free upgrade to Ludicrous Mode. Part of the reason for this upgrade is that the Model S, Model X, and Model 3 now share drive components and that simplification could yield big savings for the company. 
      Tesla is also preparing for the launch of the Tesla Model Y small crossover based on the Model 3 sedan, but deliveries of that vehicle do not start until Fall 2020

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    • By Drew Dowdell
      Tesla posted a $722M loss for the first quarter of 2019, higher than analysts expectations.  This was a swing from a 4th quarter 2018 profit of $139.5M.  Cash on hand is $1.5B lower than end of 2018, now $2.2B, partially due to a one time payment of $920M in convertible bonds that came due.
      Tesla says that is built 63,000 model 3s in the first quarter gearing up for overseas sales, though only 12,100 of those vehicle were delivered. Tesla is maintaining its projections of 360,000 to 400,000 vehicles total for the year. 
      Tesla recently announced updates to its Model S and Model X vehicles that allow them to travel further on a single charge and also charge up to 50% faster than before. These updates require the purchase of a new vehicle and cannot be simple downloads over the air.  They are also offering current owners who purchase a new Model S or Model X Performance model a free upgrade to Ludicrous Mode. Part of the reason for this upgrade is that the Model S, Model X, and Model 3 now share drive components and that simplification could yield big savings for the company. 
      Tesla is also preparing for the launch of the Tesla Model Y small crossover based on the Model 3 sedan, but deliveries of that vehicle do not start until Fall 2020
    • By Drew Dowdell
      We reported earlier in April that Tesla was preparing more efficient versions of their Model S and Model X.  Yesterday Tesla announced improvements to the Model S and Model X Long Range models that will increase range to 370 miles and 325 miles respectively, based on EPA testing cycle.  The vehicles will still use the same 100 kWh battery pack.
      Unfortunately, customers will only get this upgrade when they purchase a new vehicle.   The upgrade changes the drive hardware to the latest version of Tesla's motor technology.  Now using a permanent magnet synchronous reluctance motor, silicon carbide power electronics, improved lubrication, cooling, bearings, and gear designs achieve a 10% improvement in range.  This improvement works both during supplying power to the vehicle and during times of regenerative braking.  In addition to adding range, power and torque has increased for all Model S and Model X versions, resulting in even better 0-60 times.
      Along with this new more efficient powertrain, the Model S and Model X are now capable of 200kW charging on V3 Superchargers and 145 kW on V2 Supercharger. This enables drivers to charge 50% faster.
      Tesla has also upgraded the air suspension system to be fully-adaptive. It will give an ultra-cushioned feel when cruising on the highway for firm up during more aggressive driving behavior.  The adaptive suspension can receive over the air updates so that Tesla owners always have the latest technology. 
      Tesla will also be bringing back their standard range versions of these cars at a lower entry price that includes the latest motor and suspension updates. Any existing Model S or Model X owners who purchase a new Performance model of these cars will get a free upgrade to Ludicrous Mode at no additional charge.
      The changes go into production this week and can be ordered today.

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