Tesla shares rise on Musk’s deal with regulators and Model 3 numbers

SEC Lawsuit Against Musk Wiped $7.3 Billion From Tesla’s Market Value

Including its flagship Model S and X vehicles, Tesla produced a total of 80,142 vehicles in the quarter and delivered 83,500. That also makes the Model 3 by far the bestselling electric vehicle in the USA, outselling the Nissan Leaf and the Chevy Bolt EV by more than 10-to-1.

53,239 Model 3 vehicles, which was in line with our guidance and nearly double the volume of Q2. Following two tumultuous days, Musk has settled with the SEC, agreeing to step down as chairman for 3 years and add 2 new independent directors, with him and Tesla each paying a $20 million in penalties.

The stock's somewhat muted reaction may be a reminder of the position in which Tesla now sits-just past a trying period in which CEO Elon Musk agreed to step aside as chairman to settle an SEC lawsuit, and ahead of its third quarter financial results.

However, there are reasons for pessimism. Shares were little changed in pre-market trading. There remain significant opportunities to grow the addressable market for Model 3 by introducing leasing, standard battery and other lower-priced variants of the auto, and by starting worldwide deliveries.

Tesla first met a long-held target of 5,000 vehicles per week at the end of June after a series of production bottlenecks and delays. To address this issue, we are accelerating construction of our Shanghai factory, which we expect to be a capital efficient and rapid buildout, using many lessons learned from the Model 3 ramp in North America. The company also offered incentives including free charging and referral-program perks to entice purchases.

Google’s Project Stream wants to stream Assassin’s Creed in your browser
While the idea and objective of Project Stream might sound simple, Project Stream is still quite a technical endeavor. So, Google has launched a private beta test of Project Stream , a new competing service using its Chrome web browser.

What's more, the company is having problems efficiently delivering the cars it builds.

Tesla announced Tuesday that it delivered 55,843 Model 3s between July and September, confirming reports that the company's mass-market electric is the fifth bestselling vehicle model in the United States.

A network of short sellers has been tracking the number of cars on the lots and has speculated that some may be unsold inventory, because Tesla has built more high-priced Model 3s than it has orders for-while customers who have put down deposits for base, $35,000 versions have to wait.

With production stabilized, delivery and outbound vehicle logistics were our main challenges during Q3.

Related News:



Most liked

Jose Mourinho is embarrassing Man Utd - Scholes
Ahead of the club's Champions League clash with Valencia on Tuesday United had failed to win in three matches in all competitions. In the second half there was more [desire] and the team tried even more.

'Aggressive' Chinese destroyer came within 45 yards of U.S. warship
The Chinese defense ministry said the Decatur's actions - and previous US sail-bys - threaten its sovereignty and security. The US said its plane was conducting routine operations in global airspace, and called the incident an unsafe intercept.

'It's A Very Scary Time For Young Men In America'
Kavanaugh has steadfastly denied all allegations against him, describing them as attacks by Democrats to derail his nomination. Ramirez has accused Kavanaugh of exposing himself to her while both were college students.

Melania Trump's Striped Dress During Trip to Ghana
The first lady then visited a newly constructed wing of the hospital to visit babies in the neonatal intensive care unit. The blankets, White House pool reports note, are branded with the "Be Best" slogan that Trump launched in May.

California governor vetoes abortion bill for university campuses
Connie Leyva, D-Chino, would have required university health centers to offer women medical abortions on campus by January 1, 2022.

New Zealand provides $1.6m emergency response for Indonesia quake, tsunami
But we could not do anything to help them. "Today we will start the mass burial of victims, to avoid the spread of disease". On Dec. 26, 2004, a massive tsunami tore through Indonesian coastal regions, claiming the lives of some 120,000 people.

Dairy farmers to get compensation as a result of continental trade deal
President Trump has long denounced NAFTA, so despite the fact the same countries are involved, the name, too, has changed. In August previous year , he started a review of the trade pact with Mexico and Canada that opened up negotiations.

Mourinho: Some 'care more than others'
When you don't win a few games in a row there is attention on you. "Pressure is always there", he added. He said in several national newspapers: "If you want the truth I think it was honestly horrendous".

Flake to '60 Minutes': Kavanaugh a 'Little Too Sharp,' But Response Understandable
King spoke Friday after the Senate Judiciary Committee voted to advance Kavanaugh's nomination to the full Senate. While the FBI is investigating Ford and Ramirez's allegations, the full parameters of its probe remain unclear.

Typhoon Trami injures 50, readies direct hit on Japan mainland
Maintaining its "very strong force", the storm churned near Kagoshima on the western tip of Japan, causing seven minor injuries. A worker clears branches of a fallen tree affected by a typhoon in Naha, Okinawa prefecture, southern Japan .

Arizona Sen. Jeff Flake a `yes' on Kavanaugh, in a big lift
She said: "Don't look away from me". "That's what happened to me, and that's what you're telling all women in America". But she stressed that experience as an activist does not matter in situations like her confrontation with Flake.

Europe Risks Angering US by Establishing Financial Mechanism with Iran
In a statement after a meeting, the group said they were determined to develop payment mechanisms to continue trade with Iran. Secretary of State Mike Pompeo also criticized the European Union plan for continuing transactions with Iran.

Juventus dump interest in signing want-away Man United star Paul Pogba
Disruptive? For you (the media), it was wonderful , you made an incredible story out of 15 mins of training. Conversations with players I have many, many times.

Who is Rachel Mitchell?
With Ford done for the day and Kavanaugh in the witness chair, at least some Republicans took matters in their own hands. She is on leave as chief of the special victims division in the Maricopa County Attorney's Office in Phoenix, Arizona.

New allegations against Kavanaugh submitted to Senate committee
On Wednesday, Kavanaugh released a stark public statement denying the allegations and saying he doesn't know Swetnick. In a tweet Wednesday morning, attorney Michael Avenatti revealed his client to be one Julie Swetnick .