Top 10 Things to Know About Tesla at the End of Q2
Tesla’s Q2 earnings report was released on July 31 while they exceeded expectations, it had people talking. Tesla, the manufacturer of the world’s most-coveted electric vehicles (the Model S), has come a long way since its inception in 2003. Last year, it posted its first profits in 10 years. So, at the halfway point of 2014, what are the most important things to know about Tesla going forward?
10. Better batteries are coming.
One of the major things detractors of Tesla point to is the limited battery life of the vehicles. That may not be true for much longer, however. Tesla is working on new batteries which a pure lithium anode, which could triple the life of the battery. Currently, the batteries soon to be produced in its production Gigafactory will have an increased 10 to 15 percent battery life.
9. Batteries will also cost a lot less.
The Gigafactory will also help decrease the cost of batteries by roughly 30 percent, which will help lower the overall cost of the car. As Tesla strives to make electric cars more consumer-friendly, this will be an integral point of its business.
8. Musk isn’t going anywhere—at least for now.
Tesla stands on steady feet as a company, but definitely benefits from its founder and CEO Elon Musk. A leader often seen as a visionary, Musk has a hand in some of the most innovative companies operating today. He’s also realistic about his future with Tesla, though. “No one stays a CEO forever,” Musk said, “Eventually they carry you out.” Still, he plans to stick around for up to 5 more years.
7. Production is continuing to increase.
Tesla production is actually quite low. Musk knows that comparatively, they’re really just a drop in the automobile bucket. While production is increasing steadily this year, next year Tesla will really take off. It aims to produce 100,000 cars by the end of 2015. Musk also postulated about doubling that number by the end of 2016, but it’s not clear if that’s just a projected number, or if it’s actually possible.
6. However, production does not equal sales.
The supply of Tesla’s cars is certainly not on pace with demand, seeing as how getting a Tesla is still relatively difficult. However, the fact remains that the Model S is still an expensive automobile. A greater supply does not necessarily mean the sales will skyrocket, though Musk believes that the sales will continue to grow as opposed to dropping off.
5. The new Model X is expected to do as well as the Model S.
The Model X is Tesla’s crossover/SUV releasing this spring. Despite the fact that no one actually knows what the car looks like, Musk claims Tesla has taken numerous orders for it. It’s fair to say that there are those pre-ordering the car entirely based on hype, but knowing Tesla, it will be a quality car. Whether the Model X actually does as well as the Model S, however, remains to be seen.
4. The Model III will make Tesla’s cars accessible.
While Tesla’s cars are extremely popular, they’re not exactly cheap: a Model S can run a consumer almost $100,000. In order to reach a wider user base, Tesla is introducing its Model III, which is expected to cost around $37,000. As with many of its conceptual cars, very little is known about the Model III, though Musk has said it will be unveiled in 2016 and be released in 2017.
3. Driverless cars could change everything.
Much of the conversation about the future of driving is revolving around driverless cars. While many believe Tesla to be on the current cutting edge, that rug could be pulled from under them at any time. Musk hinted that they’re maybe not revealing everything they’re working on currently, though, and some are postulating that Tesla is working on a driverless car. As with many things will Tesla, it’s hard to tell as of right now.
2. Tesla automobiles are still in extremely high demand.
Tesla isn’t just a U.S. phenomenon. There are those around the world looking to get their hands on the Model S. Tesla is also extremely popular in China, though they’re quite difficult to get. Tesla is hesitant to expand its sales operations since it knows demand will outpace supply.
1. Tesla is still king of the electric automobile.
While the Prius and other electric vehicles are certainly popular, no other EV elicits such as strong fan response quite like Tesla’s. The Model S is a favorite among car enthusiasts, both those that love the rumble of a gas engine and those that are looking for forward-thinking technological innovation. Its wide appeal and the undeniable coolness factor make Tesla the extremely popular auto manufacturer that it is today—and will be for years to come.
UK Nissan fleet owners receive commercial charging service
UK fleet owners of Nissan Leaf and e-NV200 models can avail of a new commercial charging service using vehicle-to-grid (V2G) technology.
The V2G technology developed by DREEV, which is a joint venture between EDF and Nuvve, which specialises in V2G technology, allows for two-way energy flow; both recharging an EV’s battery when electricity is at its cheapest, and discharging excess energy to sell back into the grid.
Fleet customers will save around £350 savings per charger each year, which equates to approximately 9,000 miles of driving charge per year.
EDF’s V2G business solution includes:
The supply and installation of a two-way connected compact 11kW charger capable of fully charging a Nissan LEAF, depending on the battery model, in 3 hours and 30 minutes - 50 per cent faster than a standard charger - with integrated DREEV technology.
A dedicated DREEV smart phone app, to define the vehicles’ driving energy requirements, track their state of charge in real time, and control charging at any time
Philip Valarino, Interim Head of EV Projects at EDF, said today’s announcement marks an important step on the UK’s journey towards electric mobility. "By combining the expertise and capabilities of EDF, Nissan and Dreev we have produced a solution that could transform the EV market as we look to help the UK in its journey to achieve Net Zero," he said. “Our hope is that forward-thinking businesses across the country will be persuaded to convert their traditional fleets to electric, providing them with both an environmental and economic advantage in an increasingly crowded market.”
Andrew Humberstone, Managing Director, NMGB, said Nissan has been a pioneer in 100% electric mobility since 2010, and the integration of electric vehicles into the company is at the heart of Nissan's vision for intelligent mobility.
He added the Nissan LEAF, with more than half a million units already sold worldwide - is the only model today to allow V2G two-way charging and offers economic opportunities for businesses "that no other electric vehicle does today". Click here for more information.
FirstEnergy Corp, which aims to electrify 30% of its approximately 3,400 light duty and aerial fleet vehicles by 2030, has joined the Electric Highway Coalition. The group of electric companies, which has grown to 14 members, is committed to enabling long-distance EV travel through a network of EV fast-charging stations connecting major highway systems.
The Edison Electric Institute estimates 18 million EVs will be on US roads by 2030. While many drivers recognize the benefits of driving an EV, some are concerned with the availability of charging stations during long road trips. Through their unified efforts, the members of the EHC are addressing this "range anxiety" and demonstrating to customers that EVs are a smart choice for traveling long distances as well as driving around town.
Volta Industries has installed new charging stations at Safeway in Upper Marlboro, Maryland, and Renton, Washington.