With a key tax break from a local school district, Tesla Inc. (NASDAQ:TSLA) is one step closer to building an electric pickup truck plant in Austin, Texas.

The Del Valle School District just southeast of Austin has approved an incentive package for Tesla that would give the electric vehicle maker $46.4 million in property tax breaks over 10 years if it locates a proposed $1 billion factory on district land.

Tesla is also seeking approval from Travis County commissioners for additional tax incentives before it moves forward with the plant.

Commissioners have discussed offering Tesla a 70% tax rebate on the first $1.1 billion it invests in Travis County. Tesla would also receive a 75% rebate for taxes associated with the second incremental billion, and 80% once $2 billion of investment is exceeded, according to county documents.

The commissioners are set to vote on the final tax incentives package for Tesla on Tuesday.

Tesla has not yet officially chosen a site for its new Cybertruck factory, and Tulsa, Oklahoma, also is still in the mix.

If Austin is selected, it would be Palo Alto, California-based Teslas second U.S. auto factory. Tesla unveiled its electric Cybertruck pickup prototype in November.

Tesla wants to build a 4 million- to 5 million-square-foot manufacturing plant on the 2,100-acre site on school district land near Austin-Bergstrom International Airport.

The new Cybertruck plant is expected to create around 5,000 jobs, with starting pay at $35,000 a year and an average annual salary of $47,147, according to documents filed by Tesla.

Tesla is not expected to start production on the Cybertruck until late 2021 at the earliest. The company already has more than 650,000 reservations for the vehicle, according to a recent report from Wedbush.

The Cybertruck will reportedly be sold in three models, with the least expensive one starting at $40,000.

Tesla shares cracked $1,500 for the first time on Friday, continuing a run that has seen Teslas market capitalization rise 190% in the past six months.

Click for more FreightWaves articles by Noi Mahoney.

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Tesla gets tax break for proposed $1 billion factory in Austin, Texas - FreightWaves

CEO of Tesla Motors Elon Musk reacts following the company's initial public offering at the NASDAQ market in New York June 29, 2010

Brendan McDermid | Reuters

Check out the companies making headlines after the bell:

TeslaThe automaker's stock rose 1% in extended trading. Tesla's shares jumped 13.5% and hit a new high earlier Monday on JMP Securities' projection that the company will generate $100 billion in annual revenue by 2025.

Red Rock Resorts Red Rock Resorts dropped more than 1% in extended trading. The company said Saturday that Red Rock Resorts President Richard Haskins died in a July 4 watercraft accident and that it will release a succession plan in the coming days. The drop also follows a trend of U.S. casino stocks declining over investor concerns that property closings will continue in the coming weeks because of the coronavirus pandemic.

Inovio Pharmaceuticals Shares of Inovio fell 1% after the market closed. The pharmaceutical company's stock has trended downward since last week when it announced positive results for its coronavirus vaccine clinical trial. Following the release, medical news siteStat said the company did not provide critical data required to evaluate its value.

Fitbit Fitbit's stock whipsawed in extended trading. Regulators in the European Union are reviewing Google's $2.1 billion acquisition of Fitbit, with continuing concerns over how Google could use Fitbit users' personal data and dominate the market.

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Stocks making the biggest moves after hours: Tesla, Red Rock Resorts, Fitbit and more - CNBC

The stock market has posted an amazing rebound from its March lows, but the real standout among major market benchmarks has been the Nasdaq Composite (NASDAQINDEX:^COMP). On Friday, the index closed at a record high for the third straight day, buoyed by enthusiasm about the U.S. economy's ability to overcome even a troubling rise in COVID-19 cases. Both the Composite and the Nasdaq 100 Index were up between 0.5% and 1%.

Tesla (NASDAQ:TSLA) and Zoom Video Communications (NASDAQ:ZM) have been among the top performers in the stock market lately, and today both companies saw their stocks move to new record levels. For Tesla, momentum seems to be unstoppable right now, even as short-sellers remain skeptical of the electric vehicle maker's prospects. Zoom, meanwhile, saw more modest gains on Friday, but investors have high hopes for even more from the video collaboration specialist in the weeks ahead.

Shares of Tesla jumped 10% on Friday, adding to their amazing run recently. The stock has climbed more than 50% just since June 29, and investors think that there could be even more gains ahead.

Looming in the immediate future for Tesla is an invitation to join the S&P 500 Index. With the company having surpassed market capitalization and trading requirements long ago, the only remaining hurdle for Tesla to overcome was posting four quarters of positive earnings. That was apparently a close call in the second quarter, but investors seem confident that Tesla managed to get the job done.

Tesla CEO Elon Musk. Image source: Tesla.

In addition, CEO Elon Musk tossed out a tidbit for his fans to ponder. Tesla hopes to start producing vehicles in the German capital of Berlin in the next year, and Musk suggested that the company might consider future vehicle designs for production there that better fit the profile for European city streets.

Tesla isn't the only stock seeing momentum-driven gains right now, but it's among the highest-profile stocks doing so. With so many people wanting to bet against Musk and Tesla, high short interest also leaves open the possibility of short squeezes that could help amplify any good news.

Meanwhile, Zoom Video Communications saw its stock rise 2%. The video conferencing platform provider continues to benefit from trends requiring remote workplace collaboration, and continued difficulties with COVID-19 could make its software even more important for enterprise customers willing to pay up for top quality.

News earlier in the week showed that Zoom is trying to remove all obstacles from would-be clients looking to start using its service. The company will work to provide essential video equipment on a lease basis, dubbing the concept "hardware-as-a-service" and making it more financially feasible for small and mid-sized businesses to take their use of Zoom to the next level.

Yet what investors seem truly excited about is how quickly Zoom has been able to grow in recent months. It won't be until early September before shareholders get another full quarterly report, but Zoom has been good about releasing interim numbers when it achieves key milestones.

It's definitely the case that hundreds of millions of people are using Zoom who didn't just months ago. If even a small fraction of them stay on to become paying customers, then the bump in revenue stands a chance of justifying even the huge gains the tech stock has already seen.

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Nasdaq Hits 3rd Straight Record as Tesla Tops $1,500 and Zoom Zooms to New Highs - Motley Fool

View of the phone company QUALCOMM technology 5G in the Mobile World Congress.

Ramon Costa | SOPA Images | LightRocket | Getty Images

How to find compelling stocks primed to outperform during the third quarter of 2020? Here are a few of the names the best-performing Wall Street analysts are betting on right now.

With the stock market looking particularly volatile, it could make sense to follow the stock picks of analysts with a proven track record of success. On the one hand the U.S just added a surprisingly strong 4.8 million jobs in June. On the other hand, a renewed surge in coronavirus cases has left investors feeling jittery.

We usedTipRanksanalyst forecasting serviceto pinpoint Wall Street's best-performing analysts.These are the analysts with the highest success rate and average return measured on a one-year basis- and factoring in the number of ratings made by each analyst.

With that in mind, here are the best-performing analysts' six favorite stocks:

RBC Capital's Brian Abrahams has just selected Gilead Sciences as his top stock pick for the third quarter of 2020. This five-star analyst has a buy rating on GILD with a stock price forecast of $88, indicating 16% upside potential from current levels.

So far year-to-date, Gilead shares have soared 17%, boosted by optimism over the company's investigational coronavirus treatment remdesivir. However, Abrahams believes the company has much more to offer than just remdesivir. He highlights the underappreciated potential for Gilead's Biktarvy, a complete regimen for the treatment of HIV.

"We believe Biktarvy's strong profile and robust launch, along with favorable demographic and pricing dynamics, will underpin good HIV franchise sustainability through at least 2025" the analyst told investors on July 2. With nearer-term competitive threats overblown, he expects this to maintain a strong foundation for GILD's valuation going forward.

What's more, Abrahams sees the company's selective JAK1 inhibitor filgotinib for inflammatory diseases as a 'potential blockbuster' in the pipeline. "Overall, we expect sentiment to remain more positive, with continued strong commercial execution and pipeline diversification helping drive share appreciation" the RBC analyst concludes.

On July 1, Canaccord Genuity's Michael Walkley reiterated his Qualcomm buy rating while ramping up the stock price forecast from $102 to $115 (24% upside potential). This Top 100 analyst finds the current share price 'compelling' and sees multiple catalysts ahead.

With smartphone volumes starting to recover and expected to improve during the rest of the year, Walkley argues that Qualcomm is well-positioned to benefit from the long-term 5G investment cycle. "We anticipate recovering earnings in F2021 as 5G smartphones ramp, Apple re-enters the model for QCT shipments, and global demand for smartphones improves" the analyst explains.

In fact, Walkley believes that Qualcomm has a strong leadership position for 5G that should not only result in strong share gains with leading smartphone manufacturers but also provide an opportunity of up to 1.5x the dollar content of a similar 4G customer smartphone. According to the analyst, this is due to a combination of increased RF content and higher pricing for 5G basebands versus premium-tier 4G solutions.

Walkley is ranked #62 out of over 6,700 analysts tracked by TipRanks, and boasts an average return per rating of 19.9%. Shares in Qualcomm are up 5% year-to-date.

RBC Capital analyst Mark Mahaney is betting on transport giant Uber as his top stock pick for the third quarter. Indeed, Mahaney's $52 price target suggests investors could benefit from significant upside potential of 68%.

"We believe investors largely agree that Uber faces very large TAMs, has a leading competitive position, and benefits from an experienced management team" the analyst wrote in a July 2 report. The controversy for Uber is around profit potential following the largest loss profile of almost any initial public offering (~$3B EBITDA loss in 2019).

However, over the last three years, Mahaney notes that each of Uber's four operating expense lines have declined as a percentage of revenue (from 99% in 2016 to 66% in 2018), while driver and rider subsidies as a percentage of bookings have also decreased materially (from 13% to 9% in the same period).

Looking ahead the analyst sees four key paths to profitability: 1) Better competitive dynamics leading to fewer subsidies; 2) long-term pricing power; 3) insurance leverage from a shift in business to non-ridesharing verticals and international; and 4) expense leverage as the company scales.

Due to a strong 20.3% average return per rating, TipRanks places Mahaney at #93 out of over 6,700 tracked analysts.

Top Needham analyst Laura Martin is growing increasingly bullish on video game leader Activision Blizzard. "We believe video game play and viewing are beneficiaries of COVID-19 "shelter at home" rules, and that post-pandemic engagement levels will remain elevated compared to January 2020 (ie, pre-coronavirus) levels" cheers Martin.

She bumped up her 12-month ATVI stock price forecast from $75 to $90 while reiterating a buy rating on July 2. Given the stock's 31% year-to-date rally, Martin's new price target suggests 15% upside potential lies ahead.

Video game industry upside is being driven by mobile games, genre expansion (51% of "gamers" are now women), and esports (i.e., competitive gaming for money). For Martin, eSports is a key upside driver and ATVI has now launched its second pro league, based on its Call of Duty game (the first was Overwatch League).

"What we like most about ATVI's strategic position is that it owns all of its IP [intellectual property] and manages large, global, super-fan communities" she says. Additionally, it has diverse revenue streams with big barriers to entry based on hit franchises and 'outstanding' shooter games that attract a global audience.

Martin scores a five-star rating on TipRanks, with a ranking of #100 out of 6,742 analysts.

Five-star Oppenheimer analyst Colin Rusch has just reiterated his buy rating on Tesla after the company reported stellar second quarter vehicle delivery and production numbers. TSLA announced total 2Q deliveries of 90,650, ahead of FactSet consensus of 68,380. Meanwhile total production came in at 82,272 with 6,326 ModelS/X and 75,946 Model 3/Y.

"With TSLA posting deliveries well ahead of bull's hopeful possibilities, we believe there are two initial takeaways" the analyst commented on July 2. First, he notes that production re-ramp went as well as could be expected during the quarter. Second, delivery cycle times were much shorter than expected, leading Rusch to conclude: "We believe the company focused on customers near its factories to facilitate this result, but are still impressed."

The analyst now expects that investors will begin to focus on gross margin performance in the quarter, especially in China, to determine Tesla's long-term cost structure. And although depth of demand remains a question for bearish investors, Rusch believes TSLA is unlocking new customers and expanding pools of buyers, while making ongoing cost improvements.

Looking forward, the analyst recommends watching out for additional information on Tesla's advanced technology initiatives, notably battery/powertrain configuration and performance advantages as well as self-driving functionality and algorithm learning cycles.

Rusch, who is ranked at #89 out of over 6,700 analysts on TipRanks, has a $968 stock price forecast on the electric-vehicle company- which has seen shares explode a whopping 189% year-to-date.

Web developer Wix has just received the thumbs up from SunTrust Robinson analyst Naved Khan. With the stock more than doubling year-to-date, Khan boosted his price target from $215 to a Street-high $290 on June 29. Thanks to his strong stock picking record, Khan is ranked #150 out of over 6,700 analysts tracked by TipRanks.

"We're incrementally positive on Wix following conversations with several Web development agencies, including an expert call we hosted last week with an early Wix adopter" the analyst explained. Following several years of focused efforts, he believes Wix is finally gaining traction with agencies and professionals. According to the analyst, this can help unlock a potentially meaningful opportunity (5-8x TAM vs core).

Indeed, Khan notes that the company's Editor X (in beta) for agencies and designers is receiving favorable reviews and is likely to further drive agency adoption/usage, with premium pricing helping monetization.

At the same time, Wix has now launched an expanded e-commerce solution, with several 'must have features' including native payments processing using Wix Payments. "We are impressed by Wix's speed of innovation and believe that the latest move will also help drive usage with Web agencies for ecommerce site creation" Khan commented on June 30.

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Top Wall Street analysts are betting on stocks like Tesla and Uber for the third quarter - CNBC

Charging stations coming to Florida roadways

It will soon be easy to cross Florida in an electric vehicle. Dozens of charging stations will be added in the coming weeks.

ORLANDO, Fla. - Gov. Ron DeSantis announced that 74 Tesla charging stations are coming to Florida's Turnpike.

He made the announcement from the Turkey Lake Service Plaza in Orlando alongsidethe Florida Department of Environmental Protection Secretary Noah Valenstein and representatives from Tesla.

The funds for the stations will come from a settlement worth millions of dollars against Volkswagen for violating the Clean Air Act.

MORE NEWS:Gov. DeSantis: Students should be in classrooms in the fall, not learning online

The 74 charging stations will be created with $8.5 million along Interstate 95and Interstate 75. There are plans in the future to add additional charging stations using that same settlement money.

The charging stations will more than likely be completed within the next two months, DeSantis said.

During the news conference, DeSantis defended the decision to reopen Florida schools despite the surge in coronavirus cases, saying, It should not be political, it should be based on the facts."

DeSantis cited the negatives of kids being isolated fromteachers and peers.

I dont think theres anyone who can make an argument that this is especially risky for kids, he said. Parents should have the ability to make the decision they want.

DeSantis recently said that state schools should reopen as soon as possible.

"I want our kids to be able to minimize this education gap that I think has developed," DeSantis said. "In spite of good efforts with the online, it's just not the same, so I worry about that gap."

RELATED:Tracking coronavirus: Florida sees 2nd-highest daily increase with more than 11,400 new cases on Friday

Per the new executive order,all public schools and charter schools must open their buildings for students at least five days per week.

On Friday,Florida saw it's second-highest daily increase, adding another 11,433 new coronavirus cases.The total statewide is now at 244,151, according to the Florida Department of Health.

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DeSantis: More than 70 Tesla charging stations coming to the Turnpike in Orlando - FOX 35 Orlando

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A California law passed recently will benefit the electric vehicle sector, and could further drive enthusiasm for stocks such as Nikola and Tesla, as well as alternative fuel companies.

California passed the Advanced Clean Trucks rule in late June. It requires heavy duty pickup trucks to be zero-emission vehicles. The rule will be phased in from 2024 through 2035.

The market seemed to take little notice on the day the law passed, June 25when both the Dow Jones Industrial Average and S&P 500 sold off by more than 2%. But Cowen analyst Jeffrey Osborne said a research report last week that he received higher call volume from investors about the electric-vehicle trucking space after its passagea potentially good sign for the industry.

The law might be bullish for Plug Power (ticker: PLUG), Ballard Power Systems (BLDP), Workhorse (WKHS), Nikola (NKLA), Tortoise Acquisition (SHLL) and, of course, Tesla (TSLA).

Plug, Ballard, and Nikola offer fuel-cell technologies. Nikola also plans to sell battery-powered trucks. Tesla, Tortoisevia its pending acquisition of Hyliionand Workhorse plans to sell battery-powered commercial vehicles.

Its difficult to tell how much impact the bills passage has had on EV stocks, because other factors have been in play in the past week. Tesla is up more than 20% since passage, but its shares are more driven by cars than trucks. Last week on Thursday, Tesla reported better-than-expected second-quarter vehicle deliveries, pushing shares 8% higher to a record of more than $1,200 a share.

Workhorse stock is up an unreal 148% since passage around June 25. But Lordstown Motor, in which Workhorse has a 10% stake, launched its light pickup truckcalled Enduranceto much fanfare this past week.

Tortoise stock has soared 59% over the same span, and Plug Power stock has climbed 25%. Ballard has jumped about 24%. The runs have been remarkable.

Nikola shares, on the other hand, are down 16% since June 25, including a 13% drop Thursday. Nikola opened up reservations for its Badger light-duty pickup on Monday. That isnt bad news, but investors might have wanted more information about how reservations were going.

Nikola founder Trevor Milton did tweet on Thursday that the $5,000 deposit package was sold out. Reservations amounts range from $250 to $5,000.

Still, Nikola shares are doing just fine lately, up more than 70% since beginning life as a public company on June 3.

Whatever the reason for the huge rally, there is no denying alternative fuel stocks are on fire.

To be sure, there are risks. Workhorse, Nikola and Hyliion, for instance, dont have substantial sales or a long history of manufacturing excellence. But that obviously just isnt worrying investors right now.

Write to Al Root at allen.root@dowjones.com

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Tesla and Nikola Stock Have Been on Fire. A California Law Could Drive More Gains. - Barron's

FILE PHOTO: The Tesla logo is seen on a car in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson

(Reuters) - U.S. electric carmaker Tesla Inc (TSLA.O) reduced the price of its sports utility vehicle Model Y by $3,000, Electrek bit.ly/327OJoV reported on Saturday.

Tesla's mid-sized SUV, which is sold as a Long Range or Performance version - is now priced at $49,990, according to the carmaker's website bit.ly/327lz9y.

The Performance version will be updated with a new configuration, the report added.

Tesla did not immediately respond to Reuters request for comment.

The Model Y was unveiled on March 14 last year, promising a much-awaited crossover that will face competition from European carmakers rolling out their own electric rivals.

In April, Tesla had said the Model Y was already profitable, marking the first time in the companys history that one of its new vehicles turned a profit in its first quarter.

Tesla delivered 90,650 vehicles during the second quarter, above estimates for 74,130 vehicles, according to Refinitiv data. It delivered 80,050 units of its new Model Y SUV and Model 3 for the quarter.

Reporting by Aishwarya Nair in Bengaluru; Editing by Paul Simao

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Tesla cuts price of Model Y SUV by $3,000, Electrek says - Reuters

Passion2Fly | December 30, 2019

The PW can only be installed by a Tesla certified company. You cant use your own electrician. However, $24k for two PWs is on the high side. You should be able to find cheaper if looking around... The right price is probably $16k-$20k...

jrweiss98020 | December 30, 2019

Get a couple estimates. I had mine done by A&R Solar. Permitting, inspections, installer's warranty, ancillary equipment, and upgrading electrical service to meet current code (less likely needed in a new build) all add to the costs.

Patrick | December 31, 2019

Agree with Passion - we just paid $9K each for three units including installation to a local Tesla dealer in NC.

Tesla-David | December 31, 2019

I live in Edmonds, WA and had our two PW2 installation in June 2018 by A&R Solar for $15.5k. A&R also did our solar PV installation in 2012, and they are an incredible company that have treated me well, and would recommend them for PW2 installation in a heartbeat. They would also be my choice for your future solar installation as well. A&R is certified by Tesla for PW2 installations. We were the second PW2 installation in WA in 2018.

gregbrew | December 31, 2019

Tesla installed my two PWs in January this year, onto an existing 5kW PV array in So. CA. ~$18k.

novehe6496 | January 3, 2020

RCorsa | January 9, 2020

Interesting. It was A&R that quoted me $24k. Does anyone have other local Tesla installers

TeresaP | March 7, 2020

Who did you end up going with? We are looking at A&R for solar panels as well as 2 Powerwalls.

Tesla-David | March 7, 2020

A&R did our 13.2 kWh solar installation in 2012 and our 2-PW2 installation in June 2018. They did an exceptional job on both, and can tell you they are a great company to work with. They have always been there to answer question and deal with issues I have had, relative to having a few microinverters needing to be replaced on several occasions. I have gotten to know Andy and Reeves quite well over past 7+ years and totally recommend A&R solar as a quality vendor to anyone.

SamsAwesome | April 8, 2020

Do you feel the Powerwall was worth it in the Seattle area? I'm looking into solar and wondering, on Puget Sound Energy, if it's worth having a Powerwall when it is very rare we lose power in my particular area, PSE doesn't do time-of-use rates, etc.

Tesla-David | April 8, 2020

@SamsAwesome, Yes the PW2 installation was well worth it. You are right we rarely lose power in Edmonds, WA, but we have had several shorth outages in last six months, and they worked flawlessly to keep everything running. For us reducing our reliance on grid energy was one of the primary reasons for adding the PW2's, and they have worked exceptionally well to minimize our grid energy use for ~9 months of the year. We will not be drawing any energy from grid until end of October with our setup, which also includes charging up our two Tesla's (M3 and MS). Snohomish PUD pays us for our excess solar ($0.54/kWh) and we get a check for $5,000 for our excess solar exported to grid every year through Net Metering. This will be the last year those incentives will be in effect, as the incentives sunset in 2020. They have been handy in helping us pay off our 2012 solar PV installation. The solar + PW2 installation have been well worth the investment IMHO.

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Original post:

Powerwall installation Washington State | Tesla

SEOUL (Reuters) - From an eponymous cocktail to eager buyers following the shipping routes of long-awaited cars, Tesla Inc (TSLA.O) is having a moment in South Korea, particularly among tech-savvy professionals.

Kang Sung-mo, who runs an advertising production agency in Seoul, is a convert.

I am not interested in cars, but I am interested in the Tesla brand and its technology, the 39-year-old told Reuters.

Kang bought a Tesla Model 3 in December, ditching the Hyundai crossover he bought only last summer. Being associated with Teslas reputation for innovation was good for his image, he said.

The U.S. electric car maker had its best month for South Korea in June, selling 2,827 vehicles and bouncing back from weak sales in April and May which were hit by U.S. production disruptions due to the coronavirus. The Model 3 is now the countrys No.2 imported vehicle, ahead of the BMW 5 series and the Audi A6, and just behind the Mercedes E-Class.

By contrast, Hyundai Motor Co (005380.KS), the dominant automaker in South Korea, saw sales of its Kona EV slump 31% in June to 2,513 vehicles.

Another 4,000 to5,000 South Korean customers have the Model 3 on order, although most of them may have to wait until at least September for delivery, said a source familiar with the matter. The source was not authorised to speak to the media and declined to be identified.

Teslas rising popularity among affluent professionals in South Korea, who have been relatively unscathed by the pandemic, is one of many feathers in its cap.

Highlighting the threat it poses to established brands, Tesla last week surpassed Toyota Motor Corp (7203.T) as the worlds most valuable automaker while its second-quarter deliveries smashed expectations at a time when sales at rivals have been laid low by the pandemic.

South Koreas generous subsidies of 12.43 million won ($10,380) for the Model 3 have definitely helped sales, bringing the cars price down to less than $40,000, but the Silicon Valley automaker has also generated a genuine buzz.

In social media posts, South Korean Tesla fans avidly track the routes of ships bringing its cars to Asia, while at the countrys bars, the latest trendy cocktail is a mix of HiteJinros (000080.KS) Terra-brand beer and the Korean traditional liquor soju. Smashed together, their names are pronounced Tesla in Korean.

The automaker has additionally benefited from free advertising after popular Korean actor Yoo Ah-in, known for his sense of style, drove his Tesla Model X SUV to go grocery shopping on a reality show aired last month. That has led to a spike in orders for the vehicle, a second person familiar with the matter said without elaborating.

Some new Korean owners noted they bought a Tesla for practical reasons.

Kim Dong-hwan, who works in IT in Seoul, wanted to avoid public transportation during the pandemic and driving fatigue on his long commute.

Not everything is perfect - his Model 3 has a panel gap and he has to wait several months before it will be fixed - but Kim says the benefits and emotional appeal of a technologically advanced brand were worth it.

I am very satisfied given that Teslas self-driving feature has reduced fatigue while driving, he said.

Reporting by Hyunjoo Jin; Additional reporting by Daewoung Kim; Editing by Edwina Gibbs

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Cars, a cocktail and a celebrity: South Koreans succumb to Tesla fever - Reuters

A buying frenzy in electric vehicles stocks has Tesla Inc (NASDAQ: TSLA) shares up 62.1% and Nikola Corporation (NASDAQ: NKLA) shares up 60%since Nikola first began trading on June 4.

While EV investors are making a killing off the scramble for EV stocks, S3 Partners analyst Ihor Dusaniwsky said short squeezes could drive significant additional upside in both Tesla and Nikola.

Dusaniwsky saidTesla already appears to be in the middle of a short squeeze. Tesla has $19.1 billion in aggregate short interest, more than any other domestic U.S. stock. However, Teslas short interest is down by $2.3 billion in the past 30 days, suggesting some short sellers may finally be throwing in the towel after the stock gained 508% in the past year.

Nikolas short interest of $390 million is much smaller, but the two stocks have similar short percentages of float. Teslas short percent of float is 9.5%, while Nikolas is 7.6%.

Dusaniwsky said Tesla short sellers have endured $18 billion in mark-to-market losses year-to-date in 2020, with 43% of those losses coming in the past five weeks of trading. He said these heavy losses are the reason behind Teslas short squeeze, which is already in progress.

If Teslas stock price continues to trend upward, we expect even more short covering as mark-to-market losses accumulate, Dusaniwsky said.

The Nikola short squeeze has not yet begun at this point, but Dusaniwsky said skyrocketing borrow fees for the stock suggest a squeeze could be just around the corner.

Nikolas stock borrow fees have spiked to around 600%, and Nikola short sellers have paid $66 million in borrow fees in the month of July alone. At current borrow costs, Dusaniwsky said Nikola short sellers need the stock to drop 1.67% daily just to break even.

If NKLAs stock price appreciates, short sellers will be big losers on both sides of the short sale profitloss calculation unless NKLAs stock price trends downward a short squeeze is inevitable, he said.

Skyrocketing EV valuations have many analysts and traders as skeptical as ever about Tesla and Nikolas stock prices. However, given the market dynamics at play, both stocks make very risky short trades at this point.

It looks like electric and hydrogen car manufacturers are the silent short seller killers in the market today, Dusaniwsky said.

The average Wall Street analyst price targets for Tesla and Nikola are $722.26 and $46, implying 48.2% and 19% downside, respectively. Tesla shares have roughly doubled in the two months since CEO Elon Musk tweeted Tesla stock price is too high imo back on May 1.

Do you agree with this take? Emailfeedback@benzinga.comwith your thoughts.

Related Links:

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View More Analyst Ratings for TSLA View the Latest Analyst Ratings

2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Analyst: Tesla And Nikola Are The 'Silent Short Seller Killers' - Benzinga

Sandra Bullock should start practicingher blind acting skills because a film adaptation of Josh Malerman's Bird Box sequel,Malorie, is reportedly in the works.

"I cant say much, butI can say that it is in development. Sometimes its weird, all this secrecy, but Im game," the author told Inverse.

It's probably safe to assume that Netflix is the one looking (get it?)to bring the upcoming novel to the screen. The movie version of Bird Box enjoyed the streamer's biggest debut for an original film;over 45 million accounts allegedly watched itwithin the first week.

Going on sale July 21, the follow-up is set more than a decade after the events of the first book. Now living at a defunct summer camp with her son and adopted daughter, the paranoid Malorie Hayes decides to once again brave the world of mysterious creatures that drive people insane.

Chatting with SYFY WIRE, Malerman described Malorie as "pee-your-pants scary fun."

Carina Adly MacKenzie is vacating her position as creator/showrunner of The CW's Roswell, New Mexico. Per The Hollywood Reporter, her "relationship with studio Warner Bros. Television had been strained for some time."

Based on the report, the final straw arrived when WBTV was forced to do "damage control" afterMacKenzie took to Twitter last monthto accusethe U.K.'s ITV of cutting a same-sex "love scene"from a certainepisode. A rep for ITV2 refuted her claims of homophobia and bigotry, stating that "scenes involving sexual content were edited in keeping with the regulator, Ofcom's, guidelines."

"I have made the difficult decision to resign from my role onRoswell, New Mexico. I do not take this decision lightly, but ultimately due to fundamental differences, I must depart and entrustRoswell, New Mexicoto capable hands,"MacKenziesaid in a statement to THR."I am so proud of what we built over the last two years, and I believe in the heart and soul of the show: asking tough questions, striving to make the world better, amplifying marginalized voices, and fighting the good fight."

"The third season of the series will return to The CW as part of the networks 2021 midseason lineup," added a rep for WBTV.

Roswell, NM is the second television translation ofMelinda Metz's Roswell High books.

Ethan Hawke is absolutely electric in the first trailer for Tesla, a biopic about Nikola Tesla, the inventor, who often gets obscured by the looming shadow cast by Thomas Edison. Twin Peak'sKyle MacLachlan co-stars as Edison in the unconventional historical flick fromMichael Almereyda.

Utilizingfourth wall-breaking narration,anachronistic technology, and atmospheric backdrops,the film explores Tesla's "uphill battle to bring his revolutionary electrical system to fruition," as well as the"thornier challenges" involved"with his new system for worldwide wireless energy," reads the synopsis.

Watch the trailer below:

Jim Gaffigan andDonnie Keshawarz playGeorge Westinghouse and J.P. Morgan respectively.Eve Hewson takes up the role of Morgan's daughter, Anne, who "analyzes and presents the story as it unfolds, offering a distinctly modern voice to this scientific period drama which, like its subject, defies convention."

"Almereyda lays tracks to take Teslain a dozen wild directions,"wroteAmy Nicholson wrote in her review for Variety. "Early on, Anne whips out a MacBook to use Google image search. Later, Edison kills time on a cellphone. Almereydas entitled to meld past and present Tesla was a man of the future. Yet, having ordered the audience onboard, Almereyda doesnt go anywhere with the gambit."

This is the second movie in the last few years to depict the professional and scientific rivalries among Tesla,Edison, and Westinghouse. The first was Alfonso Gomez-Rejon'sThe Current War in 2017.

Hawke andAlmereyda previously worked together on projects like 2000'sHamlet and 2014'sCymbeline.Tesla strikes theaters and VODFriday, August 21.

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WIRE Buzz: Malorie movie in early stages; Roswell creator exits; and Tesla trailer - SYFY WIRE

Tesla CEO Elon Musk says that the automaker might design and engineer a small electric hatchback in Germany.

Earlier today, Electrek reported that Volvo bought a Tesla Model Y in the US and brought it to Sweden, presumably to reverse engineer it.

Commenting on the story, Musk said:

Berlin Model Y is the one to watch. That is a revolution in automotive body engineering (finally).

The CEO seems to imply that Volvo should instead take a look at the version of the Model Y that Tesla plans to build at Gigafactory Berlin since it will be greatly improved though its not available yet so they cant really do that.

Following the comment, Musk was asked if Tesla could build a smaller European style hatchback and the CEO responded:

At the very least, it sounds like Musk is interested in the idea.

Lately, the CEO has been discussing not only building cars where they are building new factories, in Germany and China, but also designing and engineering cars in those markets.

In China, Tesla has been taking design submissions for a Chinese-made small electric car.

Musk already announced plans for Tesla to open a European design center in Germany.

Now it sounds like the design and engineering team that Tesla plans to hire at the location could end up designing a smaller electric hatchback.

Tesla fans have been asking for a small electric hatchback for years now and I think this is the first time that Elon has openly talked about the possibility.

It looks like we might be getting it from China based on the drawing that the automaker released for a Chinese-designed Tesla vehicle, but now it sounds like this new German-designed Tesla car could be a whole separate vehicle program.

Those vehicles are also exciting because they likely mean that Tesla is thinking about going downmarket from Model 3, which is something that Elon has pushed against in the past.

Could you imagine a Tesla 5-door hatchback with 250 miles of range starting at $30,000? That would be a killer.

Tesla could also offer a dual motor Performance version for $40,000+ to create a hot hatch that would just be an autocross machine.

I basically want Tesla to do their own version of the Zoe RS hot hatch that Renault has been teasing for years but never released.

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Tesla electric hatchback: Elon Musk says new car might be designed in Germany - Electrek

For Immediate Release

Chicago, IL July 10, 2020 Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Tesla TSLA, Toyota TM, Exxon Mobil XOM, Nikola NKLA and Ford Motor Company F.

Here are highlights from Thursdays Analyst Blog:

Will Tesla Mean the End of Oil?

Tesla, a company that built its millionth car (less than 10% of Toyotas annual volume) earlier this year, is now the most valuable automotive enterprise on earth. The financial world is pricing in an imminent electronic vehicle (EV) takeover and the eventual obsolescence of oil.

Oil stocks have been stumbling since their high in the summer of 2014. Global oil production has been on the rise for decades, but it appears that demand has been lagging output, according to the International Energy Agency (IEA).

The world is working towards sustainability, moving away from fossil fuels like oil & gas. EVs have been taking center stage in this push towards a more sustainable planet. Tesla has been the primary beneficiary of this movement as its market value soars past the old oil giant Exxon Mobil, whose market value has plummeted 58% since its 2014 high (down 42% in 2020 alone).

Tesla and the rise of EVs are disrupting not only the automotive industry but long-term oil demand. We are seeing a massive economic shift towards tech, and it doesnt look like oil is on board.

The COVID Effect

This pandemic has seemingly compressed 5 years of digitalization into only 5 months, and electric cars have continued to perform with this tech-driven tail wind filling its performance sails. Despite the economic recession, Tesla was able to deliver over 90,000 vehicles, blowing analysts 72,000 delivery estimates out of the water.

The world wants EVs, and with Teslas China Gigafactory ramping up production and the Berlin Gigafactory anticipating to start production by next, they are ready to give it to them.

Tesla is not the only EV beneficiary of this tech driving pandemic. Nikola recently debuted its shares to the public through an unconventional acquisition, and the share price has been flying ever since. Nikola, a company that has yet to produce a single-vehicle, is now valued at roughly the market cap as the more than a century-old Ford Motor Company.

Future Of Oil

Oil businesses used to be the most valuable companies in the S&P 500 even a decade ago, with money pouring into these enterprises, like water from a spring. Historically, as the world population has grown, so has its appetite for oil, but an economic shift is upon us.

The oil & gas industry is just beginning to be uprooted by renewable energies and electric cars. Our oil appetite is dwindling, very slowly let me add, but still diminishing. I expect to see continued consolidation in this field in the years to come, as it is typical of maturing to declining industries.

The Takeaway

The global pandemic may have catalyzed the current slump in gas prices, but it foreshadows what is to come. Innovation-driven businesses like Tesla and maybe even Nikola will drive growth through the next decade while oil companies are forced to cut costs and scale to drive shareholder returns.

Zacks Top 10 Stocks for 2020

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumedthat any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein andis subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportFord Motor Company (F) : Free Stock Analysis ReportExxon Mobil Corporation (XOM) : Free Stock Analysis ReportToyota Motor Corporation (TM) : Free Stock Analysis ReportTesla, Inc. (TSLA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.

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The Zacks Analyst Blog Highlights: Tesla, Toyota, Exxon Mobil, Nikola and Ford Motor Company - Yahoo Finance

Tesla was a scientist and visionary who developed the basis for AC electric power that most of the planet uses today and pioneered numerous technologies that improve our everyday lives. A Serbian-American who emigrated to New York City in 1884, Tesla held approximately 300 patents.

"There's not a lot of modern conveniences that we currently enjoy that weren't touched by Nikola Tesla in some way," said Marc Alessi, executive director of the Tesla Science Center at Wardenclyffe in New York, where teams are refurbishing Tesla's lab into a museum and innovation hub.

"If Tesla didn't accelerate the AC current system, we would be 50 years behind technologically than where we are today."

But it's not just AC power that Tesla worked on. Motors, radios, X-rays, neon signs and other technology was advanced by his extraordinary mind. We take a look at the most famous and important inventions that Nikola Tesla contributed to.

Alternating current

This is the Tesla technology that sparked a war with Edison, the developer of direct current, and it's the subject of the new film.

Back in 1884, Tesla left Europe to work for Edison, who supposedly promised him $50,000 to fix the problems with DC power. Meanwhile, Tesla's alternating current had fewer issues. With AC power, the current is reversed numerous times per second, making it easy to convert to higher and lower voltages.

"He was working 20 hour days, and the whole time he was saying 'let's switch to AC current, it will work better,' " Alessi told CNN. But Edison never paid him the money, and claimed the promise was a joke. "Tesla quit and he ended up in a battle with Edison," Alessi said.

But Tesla had the last laugh, because today, alternating current is predominantly used to power most of the world's electricity.

AC motors are also used in refrigerators, power tools and fans. Meanwhile, DC motors are still used for some industrial machines and conveyors, but often require more maintenance.

Radio

History often touts Italian entrepreneur Guglielmo Marconi as the inventor of radio. But sometimes history is wrong.

Marconi is credited with sending the first transatlantic radio transmission, using technology from 17 of Tesla's patents.

The two inventors became embroiled in a patent war. In fact, the United States Supreme Court revoked Marconi's radio patents in 1943 in favor of Tesla and two other scientists, Oliver Lodge and John Stone. Unfortunately, Tesla and Marconi had already passed away by the time the court handed down their decision.

"His patents and innovative ideas were milestones of wireless technologies," said Ivana Zoric, curator at Serbia's Nikola Tesla Museum in Belgrade.

For this and his other work, Zoric said, "Tesla is often referred as 'The man who invented 20th century."

Remote control

You can also thank Tesla for the ability to change the channel without having to get off the couch.

According to the Tesla Museum in Belgrade, Tesla knew how important the invention could be, so he patented it in 11 countries as well.

X-ray technology

Tesla was also a pioneer of X-ray technology. He experimented with radiation and managed to take some of the first X-ray images of the human body, which he called "shadowgraphs." Tesla was also one of the first scientists to hypothesize that X-rays could be harmful.

But this is another area of research where he rarely gets credit.

Tesla contributed to medicine in other ways as well. The unit of energy named after Tesla is used to measure the strength of the magnets in MRI systems.

Hydroelectric power

Tesla was also a pioneer of renewable energy. Nine out of the 12 patents used to build one of the world's first hydroelectric stations, erected at Niagara Falls, New York belonged to Tesla.

"As a child, when his uncle read him a book about Niagara Falls, the first thing he thought was about energy. "That water falling is energy," explained Alessi. "At the dawn of our using fossil fuels for the industrial revolution, Tesla was already saying 'That's not the way we should go. That's dirty and finite.' "

According to the Tesla Science Center, Tesla helped pave the way toward clean energy because he understood the physics behind energy and what might be possible in the future.

Zoric added, "Even back then, he proposed the use of renewable energy sources: water, wind and sun."

Tesla's legacy

Tesla was involved in many more discoveries and creations, including the rotating magnetic field, the speedometer, and the Tesla Coil, which is a transformer that produces sparks by creating high voltage at a low current.

"His work on Tesla coils, which use inductance to generate large voltages (e.g. lightning in the air) are the basis of the circuits used for the first radios ... cathode ray tubes, and more," explained Larry Pileggi, department head of electrical and computer engineering and professor at Carnegie Mellon University. "But the transmission of those large voltages over long distances that could be captured to provide power remotely was never successful."

Tesla even reportedly invented a "death ray" that could be used as a weapon of war.

When he died in 1943, there was so much interest in what he was working on that the FBI raided his hotel room within hours of his death, Alessi said.

Mostly, Tesla envisioned his inventions, especially AC power, improving people's lives. Experts say he wanted to bring safe electric power to the masses -- to make factory worker's lives easier at work, and light up worker's homes so they study in the evenings to improve themselves.

"He loved the technology and what it could do," said Alessi. "Tesla would be willing to lose money if it would help people."

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The Nikola Tesla inventions that should have made ... - CNN

Teslas Return to Work Playbook: Guidance in the Face of Law Violation

Despite reports of Tesla CEO Elon Musk disobeying government orders to reopen his car factories, the famous vehicle manufacturer has released a Return to Work Playbook.

Elon Musk, CEO of famous vehicle manufacturer Tesla, has gotten some media coverage as of late, and not necessarily for supportive reasons. Musk has reopened a Tesla factory despite local laws and regulations. Nonetheless, Tesla has published its own Return to Work Playbook.

The Playbook outlines how the company will safely and carefully reopen in response to the coronavirus pandemic. It cites larger health organizations and their recommendations, including the CDC and EHS.

It claims that Tesla strives to provide each employee with a safe and healthy work environment. However, many are not sure the factorys reopening is truly in the best interest of its employees healthespecially given that it disobeys federal guidelines.

The Playbook lists the following steps it is taking to ensure the safety of its employees:

It includes a readiness checklist and other COVID-response tips for the facilities. Still, it asks employees to take responsibility for their own risks, including reporting symptoms and minimizing close contact with others.

With as many as 50 percent of those with the virus suspected of being asymptomatic, some worry these measures just wont cut it, and that its too early to reopen.

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Tesla's Return to Work Playbook: Guidance in the Face of Law Violation - Occupational Health and Safety

Elon Musk has teased fresh news about Tesla's Battery Day event after suggesting it will be "one of the most exciting days" in the company's history.

On Twitter, the billionaire boss of the electric car company said the revealexpected to include confirmation of a "million mile battery"could take place in two parts, with an initial webcast next month followed by an in-person event later in the year.

Musk suggested that under current conditions the previously suggested timeframe of May would have to be pushed back or attendance would be low, but agreed with one commenter who complained that streamed webcasts are "lame."

"People have forgotten how much in-person events matter! Also, there's a lot to see. It's not just a presentation," Musk tweeted, fueling anticipation about the new battery that is poised to offer a million miles of total use (not range on a single charge).

For months, speculation has swirled about Tesla's next steps in terms of energy tech, which should not only boost battery lifespan but lower vehicle cost.

Last November, Musk confirmed the company's electric pickup, the Cybertruck, would be the last product revealed "for a while," noting that Tesla would be focusing on some "mostly unexpected" announcements in 2020. Last month, he said the next event could be solely based around batteries, noting there was a "lot to talk about."

Reuters revealed last week that Tesla is currently planning to introduce a low-cost, long-life battery in its Model 3 sedan in China later this year or early in 2021.

According to the newswire, the move will bring the cost of the electric vehicles closer to its gasoline rivals and the batteries will have "cobalt-free" chemistries.

Musk said in 2018 the next-gen batteries should use zero cobalt, which is expensive and often mined in conditions that violate human rights.

During a Tesla event last year that focused on the cars' self-driving capabilities, Musk referenced next-gen batteries, stating that new packs are "probably going to production next year" and will be "designed explicitly for one million miles of operation."

Reuters reported the battery tech was developed by China's Contemporary Amperex Technology Ltd., and a team of "academic experts" recruited by Musk.

They included Jeff Dahn of Dalhousie University, who previously led research indicating that a one-million mile battery was feasible, backing up Musk's claims.

The latest breakthrough, sources told Reuters, is due to "chemical additives, materials and coatings" that help batteries store more energy for longer periods of time. The exact specifications of the Tesla "million mile" battery remain unknownfor now.

Reuters reported it is expected versions of the battery will eventually be introduced into more markets, including North America, but timescales are also a mystery.

According to Tesla's website, the Model 3 offers a full-charge range of 348 miles, with battery modules Musk says can last between 300,000 to 500,000 miles.

When the CEO was asked about the Battery Day event during the Q1 2020 earnings call he decidedly kept his cards close to his chestbut promised big.

"We don't want to pre-empt Battery Day," Musk said on the call. "We want to leave the exciting news for that day, but there will be a lot of exciting news to tell."

"And I think it would be one of the most exciting days in Tesla's history and we're just trying to figure out the right timing for that," the CEO continued.

He added: "We think probably the right timing will be theprobably the third week of May. Not giving a firm date, but we think that probably that's the right timing. And depending upon what we're allowed to do, it will either be in California or Texas."

Tesla has been contacted for comment by Newsweek.

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What Is Tesla's 'Million Mile' Battery and When Will It Be Revealed? - Newsweek

Tesla's autonomous driving package still isn't completely functional, but the price will continue to go up as features launch, CEO Elon Musk said Tuesday.

In a tweet that echoes the same warning sent in April, Musk said the price of "full self-driving," an add-on option to most Tesla vehicles that allows for assisted driving on the highway and limited other situations, will increase in price by $1,000 on July 1 to $8,000.

An increasing value of Tesla cars as the functionality of self-driving features improves has been a major selling point for Musk in the past, despite criticism that he's overhyped the technology's abilities. In April, he hinted the technology could soon move to a subscription pricing model.

"It's financially insane to buy any car other than a Tesla," Musk said at an investor event about autonomy in 2019. "They will be like owning a horse in three years if you buy a car that does not have the hardware necessary for full self-driving, it's like buying a horse. The only car that has the hardware for full self-driving is Tesla."

Bullish comments like those, critics say, have helped fuel a proliferation of unsafe practices with Tesla's technology. In some cases, it's viral videos of drivers removing their hands from the wheel, or even shooting a pornographic film while the car drives. And in others, drivers falling asleep with the technology engaged have died in crashes.

To be sure, Tesla's own documentation instructs drivers to keep their hands on the wheel at all times.

"As with all Autopilot features, you must be in control of your vehicle, pay attention to its surroundings and be ready to take immediate action including braking," its website says.

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Elon Musk says Tesla's full self-driving price to increase July 1 - Business Insider - Business Insider

Tesla aims to sell 1m vehicles globally next yearwhich will require an ample supply of lithium ion batteries.

"There is very strong demand from Tesla," Panasonic chief financial officer Hirokazu Umeda said.

The Nevada plant, known as Gigafactory 1, fielded an annual battery making capacity of 32 gigawatt hours at the end of March, Umeda said.

The partners had sought an expansion to 54GWh during the fiscal year ended 31 March 2019but ultimately decided to freeze spending on the factory, citing tepid sales of electric vehicles.

Without the proposed expansion, capacity at the Gigafactory instead would inch up to 35 GWh by March 2022 due to improved materials and technology, Umeda said. That output would supply 500,000 electric vehicles.

Nikkei noted Tesla and Panasonic had invested US$4.5bn in the plant as of April 2019.

Panasonic, one of the world's biggest producers of EV batteries, manufactures the cells, and Tesla combines them into battery packs before assembling the cars at a California plant.

Panasonic's Tesla business suffered a loss for the fiscal year ended in March 2020, Nikkei said.

The USbattery factory alone became profitable in the second half of the financial yearbut it had lagged in contributing to earnings. Yet that result apparently had the Japanese company cautiously considering new investment in the Gigafactory.

Nikkei noted Tesla had suspended production at its assembly plant in California due to the state's shelter in place order.

The novel coronavirus outbreak had also idled most operations at the Nevada Gigafactory.

But Tesla had since resumed production at the California plant.

Link:

Panasonic and Tesla talking battery spend again | Automotive Industry News - just-auto.com

Elon Musk released an impressive chart of the impact of the pandemic on Tesla Supercharger use over the last few months.

With stay-at-home orders and travel restrictions being put in place in many markets, gasoline sales are way down.

Unsurprisingly, electric car charging station usage is also way down.

Musk decided to release an interesting chart of the usage of Teslas Supercharger network in different regions over the pandemic.

The chart shows that Teslas Supercharger network in China saw a massive reduction in use in late January through February:

Interestingly, the chart shows a V shape recovery in Supercharger usage in China and a second wave of slower use in April.

In comparison, restrictions in Europe and North America happened about a month later, resulting in a similar rapid drop in Tesla Supercharger usage, but the recovery has been different.

It is a much slower recovery as restrictions are slowly being lifted in some North American and European markets.

Most interestingly, the Asia Pacific, which in this case excludes China, saw only a small drop in February, and it was not only back to normal but kept hitting new highs.

Its important to note that for most Tesla owners, Superchargers are not the main way for them to charge their cars.

Most owners charge their vehicles at home and only periodically charge at Supercharger stations mainly to travel longer distances, like road trips.

This is really interesting.

Of course, this pandemic is a much more complex issue than anything that can be explained by a Supercharger usage chart, but its still interesting data.

Its insane how quickly Supercharger usage recovered in China compared to what is happening in Europe and in North America.

But thats not as impressive as APAC though without China, I assume that it mainly consists of Australia, New Zealand, and Japan, and those have been smaller markets for Tesla.

Nonetheless, the small slowdown in usage seems to indicate a significantly different impact than in the other markets.

What do you think? Let us know in the comment section below.

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Check out Teslas impressive chart of pandemics impact on Supercharger use - Electrek

Home / News / Tesla Model 3 thief thwarted, locked inside the car by the owner's phone

We've talked a lot on this website about the amazing capabilities of Tesla's 'Sentry Mode' feature. Is it scary to know your car is coated in cameras? Perhaps. Is it satisfying as hell to watch vandals get repeatedly caught on camera in exceptionally high defintion? Absolutely.

But, Sentry Mode isn't the only added safety measure a Tesla owner has in their arsenal. The manufacturer's app and remote controlling abilities can also be a huge asset; as highlighted by a recent case in America.

On May 8, Barstow Police Department in California that a would-be thief car-jacked a Tesla Model 3 owner while they were sitting in their car. The owner got about of the thief's way and allowed them to hop in and drive away, only to then open the Tesla app on their phone.

Phone in hand, the owner was able to turn off their car and lock the thief inside in a scene that sounds like something from a more tech-laden future than our current world of conventional immobilizers.

The thief, unable to find the subtle door unlock buttons in the Model 3, was forced to sit captive in the car until local authorities showed up.

"When officers placed Smith [the claimed thief] under arrest, they observed that he was sweating profusely and was twitching and blinking his eyes rapidly. Smiths behavior was also erratic and combative," reported police.

"Smith was placed under arrest for carjacking and being under the influence of a controlled substance."

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Tesla Model 3 thief thwarted, locked inside the car by the owner's phone - NZME