Tesla News
Michael Spencer
![Michael Spencer]()
Michael Spencer
A.I. Writer, researcher and curator - full-time Newsletter publication manager.
What do you need to know about Tesla in mid-2020?
- Tesla reported its first full year of profitability on a GAAP basis, which means it can now be considered for inclusion on the S&P 500 index. This comes as Tesla reported a second-quarter profit, its fourth in a row on July 22nd, 2020.
- The stock will hit an all-time high tomorrow, and after hours was up over 4% to $1,657, doubling in two months.
- Tesla has chosen Austin, Texas as the location for its new $1 billion Cybertruck factory.
- Tesla's claims about its Autopilot driver-assist feature are misleading, a German court has ruled in mid July. Curiously, Tesla has been banned from repeating the misleading claims. German law does not allow fully autonomous driving.
- Tesla's Q2 Earnings were a success, posting $6.04 billion versus an expected $5.2 billion.
- Tesla's goal to achieve long-term profitability is coming along nicely with an aim to reduce the cost of vehicle production, and make more money from software over time, namely its Full Self-Driving option.
- Elon Musk says full self-driving Tesla tech 'very close' but many analysts don't think it's feasible as moonshot approaches to autonomous driving cars have largely been a failure by Waymo One and Tesla, among others.
- The recent success of Tesla's stock makes Elon Musk about the 5th richest human on the planet. He is the leading transhumanist entrepreneur with significant other ventures including SpaceX, Neuralink, The Boring Company and his involvement in OpenAI, among others.
- With EV demand in China is starting to accelerate with Tesla competing with a number of domestic and international competitors for market share, it's first mover advantage is considerable over the existing automobile sector and EV competitors alike.
Musk, 49, has driven Tesla into an admirable position, now a company with a market cap of over $300 Billion, easily the most valuable automobile software company.
At this time last year, Tesla’s shares were trading around $260.
Tesla has promised its fans and shareholders an all-electric Tesla Semi, a million mile battery, a futuristic Cybertruck, and to have 1 million robotaxi-ready vehicles on the road by the end of 2020. Tesla is the disruptive tech story of 2020, easily surpassing all expectations.
Tesla has 5.8 million followers on Twitter, while Elon Musk has 37 million, this suggests Tesla is one of the most recognizable global brands.
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4 年Great
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4 年Tesla certainly is at the vanguard of transportation.
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4 年i absolutely despise elon musk, he's a manipulative douche bag that steals all his ideas from science fiction, got his startup money for paypal from his dad who was a rich dbag in south africa during apartheid, owning gem mines, and properties connected to the government, manipulates markets and straight up lies, it's no wonder he and trump get along. he made his workers work while being sick with covid and refused to close his factories, constantly says bullshit to try to gain public favor and then goes against his word. He is fake as fuck. One of the worst people in the world. hands down. he shouldn't be allowed to run this company. i hope they take away all these bonus options from his contracts so he doesn't get so greedy and kill people. fires people after he said he wouldn't during covid, the man cannot be trusted, he takes after his dad really well.