Company Report: The promises of Elon Musk for Tesla in 2019; Canada's response to Tesla is a $ 15,500 electric tricycle – Finance and Banking

On the promises, Elon Musk is just as visionary as he is in engineering. As humankind panics tweets, more modest Canadians (from whom it has inspired itself) are preparing to launch thousands of electric mosquitoes that will crawl through the streets of the west coast.

Tesla Inc. wrote the annual report and tabled it on Monday at the Securities and Exchange Commission, outlining this year's promises and expectations for paper, as well as the price paid in 2018 for the history of private return and restructuring. In terms of expenses, Tesla recorded layoffs of $ 36.6 million, a restructuring of the Energy Division of $ 55.2 million and expenditures of $ 30.1 million. in the context of the judicial settlement of the conflict concerning the tweet of the chief executive Musk at its exit stock market, which caused major complications.

The document mentions more than 100 times the Model 3, the Tesla sedan still hopes to offer for $ 35,000. The promise appears several times, but Tesla still says that this price level will be reached in the indefinite future: "We are now launching model 3 shipments to international markets and we are focusing on reducing manufacturing costs, while by continuing to increase the level of production ".

The company claims that the model 3 and engines are produced in "large quantities" and points out that the sedan was the best-selling premium vehicle in the United States in 2018, recalling that it would bring production to 7,000 units per week by the end of 2019. With the Shanghai factory under construction, the level will rise to 10,000 / week, and according to Tesla, an annualized volume of 500,000 models 3 will be reached "between the last quarter of 2019 and the second in 2020 ", depending on what will happen. operation of the new plant. On Tuesday, Elon Musk announced on the Tweeter the level of production:

Tesla also mentioned the future fully electric vehicles, stating that she would launch in the future the Y model, a light truck, a van and a new version of the Tesla Roadster. It is thought that the Y model will be a compact SUV, a segment much appreciated by American customers. The company has renewed the promise that the introduction of production would be much faster and cheaper than Model 3, which uses more than 75% of the components. Musk has already talked about picking up the mutilation of details, but saying it will be a "long-term futuristic pickup" Blade Runner.

Tesla said the residential solar division is "catching up" and plans to increase production of Solar Roof this year. He also plans to introduce financial services, possibly direct loans to potential clients. Solar roofs have been installed "at a slow pace", just as much has been learned about the design and manufacturing processes.
The tax cuts for Tesla electric cars have dropped 50 percent to $ 3,750 this year and will be reduced to $ 1,875 in the second half, but Tesla said they would not have a "significant impact" on long-term sales: "We believe that these reductions have pushed demand forward in 2018 and can create similar increases in 2019 before each step of reducing federal tax deductions. Tesla is an attractive proposition even without incentive. "

The Tesla stock has fallen 8% over the last 12 months, compared with the 1.8% gain in the S & P 500 index. (Market Watch)

It's electric like Tesla. It costs a Ford Fiesta. This is the strangest vehicle ever seen – and it could redefine the suburban car. As General Motors prepares to close the factory near Toronto, where Canda's car production began more than 100 years ago, a new model is emerging in a small production capacity around Vancouver, British Columbia.

Meet Solo, a $ 15,500 single-seat vehicle produced by Electra Meccanica Vehicles. Beginning in December, 5,000 people will take to the streets of Los Angeles and 70,000 more will be delivered over the next two years on the west coast of the United States. Electra Meccanica has a market value of only $ 142 million, but it has 2.4 billion pre-orders.

(Photo: electramecanica.com)
Strange tricycle can even give hope to the General Motors plant in Oshawa, Ontario, which will close this year, leaving no job to 3,000 people. "We had a disguise on the subject," said Jeff Kroll, CEO of Electra Meccanica, adding that no decision had been made: "Nothing would make me happier than re-engaging these people for a vehicle designed and manufactured in Canada. "

From Tesla to Nissan and Volkswagen, the automakers are racing for the future car. Until now, they have created cleaner and quieter versions, but also more expensive versions of existing models. The profits were timid, with many automakers likely losing money for every car, but they sell in hopes of a future market share, according to estimates by Bloomberg New Energy Finance.

Electra Meccanica says that its bizarre creation tends to redefine the image of the car. "Tesla is doing a great job producing big cars – conventional electric cars," said Kroll, who previously worked for NASA's electric motors division in California, and married Marc Tarpenning and Martin Eberhard, co-founders of Tesla. "This company produces the car that Elon Musk would have wanted it to manufacture .It's good to make a car worth $ 45,000, $ 100,000 or $ 250,000." But for the masses? $ 15,000 can make people stop using gasoline – it's about creativity. "

What are the performances? From 0 to 100 km / h in 8 seconds, almost like a Porsche Cayenne. It is charged in three hours, it has a range of 160 km and reaches a maximum speed of 130 km / h. Remarkably, it can load the contents of a full supermarket cart into the front and rear storage spaces. For Kroll, Solo transports smart phones – something smaller, better and more indispensable. "The brakes were people who thought they needed a big screen, but today everyone knows they sell more iPhone and earn more money than they did with iMac. "

His ambitions do not match the price of the shares. Electra Meccanica erupted in the first few weeks of OTCQB Venture trading in 2017, reaching a high of $ 16 before moving to Nasdaq in August of last year. It fell to 4.39 at the close of Friday, but at a triple value compared to the beginning of the week. "It's actually a vehicle you need next to your regular car," says Kevin Tynan, Senior Automotive Analyst at Bloomberg Intelligence. "Does not it cost you more money to go with two cars than with a car with reasonable consumption that does it all?"

At first glance, Electra Meccanica does not seem to be a potential competitor in the race for massive adoption of the cheap electric car. But Henry Reisner, the owner of the company, has a personal opinion: "The product is so far off the beaten path that no producer will sign it.For a small manufacturer is the only option.A land that nobody will enter". Electra Meccanica targets three types of buyers: commuters, carpooling companies and final delivery services such as Amazon, couriers and pizzerias having one thing in common: one man in the car.

Nearly 90% of Americans who go to work are alone in the car – a huge potential market of 115 million people. DHL Worldwide Express and 7-Eleven Solo test for deliveries. Hilton Worldwide invites guests to try it at the Double Tree Hotel in Victoria, BC. Carpool companies are easy to use: they can double the number of users by parking 25 Solo on a parking lot 10 places during the night.

Kroll is not bothered by those who doubt. Electra Meccanica is fully funded and expects to become profitable by the end of the year, he said. "The Nasdaq rating has made Tesla a great company, so if you can still imagine Tesla before making the first 5,000 cars, that's what we're doing now." (The Seattle Times)