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Tesla vehicles ordered after October 15 lose out on full tax credit eligibility

Tesla customers who want the full $7,500 federal tax credit have until October 15 to order a Model S, Model X or Model 3 electric vehicle, a new deadline posted on the company’s website that could spark a flurry of sales. The October 15 deadline was added Thursday to the Tesla website . Earlier this year, Tesla hit a bittersweet milestone when it delivered its 200,000th electric vehicle. The achievement — a noteworthy occasion for an automaker that didn’t exist 15 years ago — activated a countdown for the $7,500 federal tax credit offered to consumers who buy new electric vehicles. The tax credit begins to phase out once a manufacturer has sold 200,000 qualifying vehicles in the U.S. Under these rules, Tesla customers have to take delivery of their new Model S, Model X or Model 3 by December 31. Tesla explained how the tax credit would phase out and the Dec. 31 delivery deadline two months ago. Until Thursday, it wasn’t clear if or when Tesla would impose a deadline for customers to order their electric vehicle. Tesla estimates that customers who order a Model X and Model S right now would take delivery of their vehicles in November. The Model 3, depending on the variant a customer chooses, could take up to eight weeks, according to the company’s website. The newly imposed deadline may spur sales, giving Tesla an added boost to close out 2018. However, these delivery-sensitive sales come with added responsibility — and the potential of angering new customers if Tesla fails to meet that deadline.  

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Chinese electric vehicle maker Nio makes bumpy start following $1B IPO

Nio, the Tesla -wannabe electric vehicle firm from China, enjoyed a mix start to life as a public company after it raised $1 billion through a listing on the New York Stock Exchange on Wednesday. The firm went public at $6.26 — just one cent above the bottom of its pricing range — meaning that it raised a little over $1 billion. That’s some way down on its original goal of $1.8 billion, per an initial filing in August , and for a while it looked like even that price was optimistic. Early trading saw Nio’s stock fall as low as $5.84 before a wave of optimism took it to $6.81. The stock closed its first day at $6.60, up 12 percent overall, to give Nio a total market cap of $7.1 billion. Nio sells in China only, although its tech and design teams are based in the U.S, UK and Germany. Its main model, the ES8, is designed for the masses and is priced at 448,000 RMB, or around $65,000. That makes it cheaper than Tesla vehicles in China but it has only just got to making money. Nio has accrued some 17,000 orders for the vehicle, but it only began shipping in June. As a result, it has posted some pretty heavy losses in recent times — including minus $759 million in 2017. Ultimately, the firm raised $1 billion but its leadership may be disappointed that the final sum is well short of its original target. Reasons behind lukewarm investor interest may include: General concerns around the performance of Chinese firms, bellwether Tencent just had a rare profit drop , for example A crackdown on 30 other EV firms from the Chinese government, which followed a number of incidents including the reported explosion of a vehicle from WM Motor A knock-on effect from poor results from Tesla, which remains Nio’s main rival and carded wider-than-expected losses last month While there is also the ongoing spectacle that is the Trump administration’s ongoing trade war with China, which resulted in a range of new tariffs being issued last week Meanwhile, Nio is far from the newest kid on the block.

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Russian arms manufacturer Kalashnikov unveils its answer to Tesla

The Russian weapons manufacturer Kalahsnikov , best known for making the AK-47 machine gun, has unveiled a fleet of electric and hybrid cars, buggies and motorcycles this week — including an electric vehicle that the company says will rival Tesla. While it’s a noble goal to take competitive aim at the world’s most famous electric vehicle brand, the retro-styled concept car, dubbed the CV-1 , bears a closer resemblance to another, more infamous car from the soviet era… the Trabant. That’s a vehicle, by the way, whose Fahrvergnügen  is best illustrated by the Conan O’Brien’s demonstration below . The CV-1 is based on the retro-IZH-21252 model known as the “Combi” and is a test bed for Kalashnikov’s electric drive train, which the company said was developed in-house. The Combi has a cruising range of 350 kilometers and can go from 0 to 100 kilometers in roughly 6 seconds, so says the company. Batteries for the new electric vehicle from Kalashnikov have a capacity of 90 kilowatts per hour. At the same gun show where the new EV was unveiled, Kalashnikov also showed off a hybrid buggy and an electric motorcycle to complete its hattrick. The four-seat buggy can purportedly achieve speeds of up to 100 kilometers-per-hour and has separate electric engines for its front and rear wheels, along with hydraulic shock absorbers. According to Russian news agency RT, the vehicles are a relatively recent addition to the Russian military’s mobility arsenal. Kalashnikov’s new electric motorcycle for police units Kalashnikov may have Tesla in its sights, but the car company likely has more to fear from U.S. regulators than it does from a Russian competitor. At this point, the weapons manufacturer might find more of a market for another machine it debuted at the Russian military trade show — its golden, metal-plated killer robot  (!!). Here’s a selection of images below, courtesy of Kalashnikov, of the new electric vehicle. gallery ids="1698553,1698555,1698556,1698557,1698558,1698559,1698554" With assistance from Jon Russell

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On Tesla’s path to privatization, Morgan Stanley halts equity coverage of electric automaker

Morgan Stanley is no longer providing equity coverage on Tesla’s stock, the second firm to drop its stock rating on the electric automaker since CEO Elon Musk announced plans via Twitter to take the company private . Tesla declined to comment. Morgan Stanley could not be reached for comment to explain why it dropped Tesla. However, some speculate that the brokerage firm could be playing some role in Tesla’s plan to become a private company. Morgan Stanley’s website no longer shows a stock rating or target price on Tesla.  Tesla stock was previously rated at “equal weight.” The move, which was reported by Bloomberg , caused Tesla shares to rise Tuesday. Shares closed at $321.90, about 3.6 percent higher than its opening price. Morgan Stanley analyst Adam Jonas, a longtime bull of Tesla, had a $291 price target on the company. In his last research note on August 7, Jonas explained Morgan Stanley placed an equal weight rating on the company because it supports a near fair value and “not a more attractive investment on a risk-adjusted basis than the average stock under our NA coverage.” Last week, Goldman Sachs Group dropped its Tesla rating and price target, although it gave an explanation for the move. The company is stepping in to advise Musk and the Tesla board on taking the company private. Musk’s tweet August 13 provided more details, including that the company is working with Silver Lake and Goldman Sachs as advisors. The company has hired Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors. I’m excited to work with Silver Lake and Goldman Sachs as financial advisors, plus Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors, on the proposal to take Tesla private — Elon Musk (@elonmusk) August 14, 2018 Musk first floated the idea of taking Tesla private at $420 a share on August 7 via a tweet that prompted the U.S. Securities and Exchange Commission to investigate .

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Tesla cars will play video with a future update

Tesla is planning to bring games to its electric cars' giant touchscreens, so why doesn't it have video playback while the car isn't moving -- something drivers have wanted for years? Don't worry, you'll get your wish soon. Elon Musk has responded to...

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The Morning After: Your weekend edition

Hey, good morning! Welcome to your weekend. This week included our full review of Samsung's new Galaxy Note 9, Google's opaque location tracking and just a lot of bad news for MoviePass. Elon Musk also talked about his tough year heading up Tesla an...

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Tesla lost nearly $8 billion in shareholder value this week and its board should be ashamed

Over the last five days, Tesla shareholders have watched the value of their stock decline by roughly 16% and seen nearly $8 billion in value erased, as the company’s celebrity chief executive, Elon Musk, has what amounts to a very public breakdown. However, Musk is not the only person responsible for the collapse of Tesla’s stock price. As  The New York Times  article which precipitated the latest slide in Tesla’s value on the public markets makes clear, the company’s board is also to blame . For months, Musk has been showing signs of strain (generously speaking), and has been accused of making questionable decisions to drive growth and stifle criticism or dissent at the revolutionary electric vehicle company he founded. During that time, as Shira Ovide notes in her piece from Bloomberg, Tesla’s board (primarily composed of Musk’s friends, relatives, and initial investors) took no public steps to control or manage the situation. Some Tesla board members are reportedly concerned about Elon Musk's workload and his use of Ambien. If so, here's a solution for directors: Do your jobs. https://t.co/fQaENm9tS7 — Shira Ovide (@ShiraOvide) August 17, 2018 Privately and on background the board (or certain members) expressed concern over Musk’s recent behavior, drug use (both medicinal and recreational) and Twitter habits. Those concerns should have been aired at the board level and the company’s directors should have exercised their ability to manage the mercurial Musk as his public actions became increasingly unmoored. Something could have happened after the disastrous earnings call with analysts . It could have happened around the time of the strange active shooter allegations that were made against a Tesla whistleblower

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