Elon Musk announced in the context of the latest quarterly figure announcement that Tesla co-founder JB Straubel will withdraw from the operational business as Chief Technology Officer and will in future only work in an advisory capacity for Tesla. The new Tesla CTO will be Drew Baglino.
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In the second financial quarter of 2019, Tesla has produced 87,048 cars and delivered 95,356, surpassing all previous quarterly figures and enabling a similarly record-breaking cash flow. CTO, JB Straubel is stepping down after 15 years with the company.
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Tesla has opened the order books in China for the Model 3, which the EV manufacturer will produce in its Shanghai plant, which is still under construction. The first deliveries of the Model 3 from local production are scheduled to start in six to ten months.
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It seems that Tesla may be having a new record quarter in vehicle deliveries. As Elon Musk wrote in an e-mail to employees, there is a good chance that the current quarter will see 90,700 deliveries exceed the record level reached in the fourth quarter of 2018.
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Nikkei suggested yesterday, that Panasonic and Tesla’s plans to increase production capacity for battery cells at Gigafactory 1 have been put on ice due to financial problems at Tesla and uncertainties about future demand. While us and others could but wonder, Panasonic now took a stand that is ambivalent.
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Tesla has secured financing for the first phase of its China plant in Shanghai as it signed credit agreements with Chinese banks for up to 3.5 billion yuan (around 465 million euros).
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Approximately one week after the US sales launch of the 35k Model 3, Tesla has produced around 550 units. In Europe, the availability of the new basic version will take another six months.
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Lishen is under discussion as a possible supplier of battery cells for Tesla’s Gigafactory 3 in Shanghai. Tesla has confirmed a corresponding offer from Lishen but insists they had not signed any agreement yet.
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Tesla has now officially placed the foundation stone for the so-called Gigafactory 3 in China, which will produce both batteries and the electric vehicles in which they will be used in future. The plan is to complete construction by this summer.
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After recording a profit in Q3 of this year, Tesla has filed a follow-up report to the SEC. Their latest 10-Q filing concentrates on further growth, particularly in the areas of production and service infrastructure and Tesla is ready to spend billions.
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Tesla has found the spot to construct the Gigafactory 3 on Chinese soil. A 860,000 sqm plot of land in Shanghai has been secured according to a post the company made on Chinese social media and previous rumours had suggested as much. Still, the deal must be considered groundbreaking in every sense.
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The preparations for Teslas Gigafactory in China are apparently progressing. As Bloomberg reports, Tesla is about to buy land for the factory for 145 million US dollars. A decision by the Shanghai city government to allocate the land to Tesla could already be made this month.
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Tesla is looking for staff for their planned electric vehicle factory in Shanghai just one month after receiving approval to set up shop from Chinese autorities. Most roles posted on the Tesla website are at senior level, reaching from architectural designer to experienced finance manager.
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Elon Musk has been busy in Shanghai as he inked the deal with the city for a new production facility. The construction of Gigafactory 3 is to “begin in the near future,” says Tesla so that they may start making both electric cars and batteries there in two years from now.
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