from the rotating-magnetic-wheel dept.
"Tesla stock soared today, up over 17% at one point, on solid earnings reports, and also due to achieving the highest recommendation of all cars from Consumer Reports (Note, not linking direct to paywalled CR site). In addition, Tesla Motors Inc. is expected to make a big announcement regarding its 'gigafactory' battery plant this week. Tesla is rumored to be partnering with Japan's Panasonic Corp. or South Korea's Samsung Electronics Co. Ltd. The location of the factory is also yet to be determined, although analysts have bet on New Mexico or Arizona. One thing is sure: 'Tesla hopes to reinvent battery production like it already did to other parts of the auto supply chain,' one Wall Street analyst said.
Within the next few weeks, CEO Elon Musk will go to China to deliver the country's first Model S according to CNBC."
The USA Today and Reuters report that Tesla Motors and Panasonic announced their intention to open a factory in Buffalo, New York. Photovoltaic cells, and modules containing them, would be made there. Production might begin in 2017.
The two firms signed a non-binding letter of intent to make the cells for Tesla's stationary power storage units, the Powerwall and Powerpack.
The companies are already collaborating in the production of storage cells for rechargeable batteries.
- Tesla Soars on Financials and Ratings
- Elon Musk's Tesla Offers to Buy Elon Musk's SolarCity, Shares Tumble
- Tesla and SolarCity Reach Agreement to Combine
A rally in Tesla shares [...] briefly vaulted the company's market capitalization past the German luxury carmaker in early Friday trading. The amount of ground Tesla covered was vast: BMW was valued at a $30 billion premium as of early December.
[...] Short interest represented about one fourth of the shares as of the latest quarterly filing.
According to The Drive the three most valuable auto makers are "Toyota, Daimler, and Volkswagen."
Tesla stock sat at $357.32 after market close after trading as high as $376.87 on Friday.
Tear-Down/Reviews on new BMW i3 Electric Car
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Electric, Autonomous Cars Will Drive BMW's Continued Growth
BMW Boosts i3 Battery Capacity by 50 Percent—and it's Retrofitable
VW Responds to Diesel Scandal, Says "the Future is Electric"
Bob Lutz Thinks Tesla is Doomed
One in Seven New BMWs Sold in the US is an Electric Vehicle
Elon Musk's "Top Secret Tesla Masterplan, Part 2"
Elon Musk's Tesla Offers to Buy Elon Musk's SolarCity, Shares Tumble
Wall Street Values Tesla Motors at $620,000 for Every Car Delivered Last Year
Tesla Soars on Financials and Ratings
Tesla Stock Price Falls as Sales Target Cut to as Few as 50,000 Vehicles
Tesla Reaches 325,000 Preorders for Model 3, But Can It Deliver?