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Elon Musk promises to take Tesla Model S to ‘Plaid’ with new powertrain

Tesla CEO Elon Musk promised a more powerful powertrain option in future Model S, Model X and the next-generation Roadster sports car that will push acceleration and speed beyond the current high bar known as Ludicrous mode.

Musk tweeted Wednesday evening “the only thing beyond Ludicrous is Plaid,” a teaser to a higher performing vehicle and a nod to the movie Spaceballs.

The only thing beyond Ludicrous is Plaid

Elon Musk (@elonmusk) September 12, 2019

 

These new higher performing versions of the Model S, Model X, and Roadster will contain what Musk describes as a Plaid powertrain and is still about a year away from production. This new powertrain will have three motors, one more than the dual motor system found in today’s Model S and X.

Yes. To be clear, Plaid powertrain is about a year away from production & applies to S,X & Roadster, but not 3 or Y. Will cost more than our current offerings, but less than competitors.

— Elon Musk (@elonmusk) September 12, 2019

This Plaid powertrain has already seen some action. Tesla revealed Wednesday that a Model S equipped with a Plaid powertrain and chassis prototype had lapped Laguna Seca racetrack in 1:36:555, a second faster than the record for a four-door sedan.

*~ Some personal news ~*

We lapped Laguna Seca @WeatherTechRcwy in 1:36.555 during advanced R&D testing of our Model S Plaid powertrain and chassis prototype

(That’s a second faster than the record for a four-door sedan) pic.twitter.com/OriccK4KCZ

— Tesla (@Tesla) September 12, 2019

 

The “Plaid” powertrain will not be offered in the lower cost Model 3 or Model Y, which isn’t expected to go into production until late 2020. Musk also promised that this plaid powertrain will cost more than “current offerings, but will be less than competitors” without explaining what that means.

Close followers of the automaker might recall hints of a three motor powertrain in the past.

When Tesla unveiled a new Roadster prototype in November 2017, Musk said it would have three motors and be able to travel a whopping 0 to 60 miles per hour in 1.9 seconds and a top speed of 250 mph or even more. The Roadster isn’t expected to go into production until 2020.

What is new are Tesla’s plans to make this more powerful three-motor powertrain available in the Model S and Model X. And it stands to be an important option, if it does in fact materialize. The Model S has been around since 2012 and since the introduction the cheaper Model 3, sales have dipped.

And yet, Musk has said the X and S won’t be getting a major refresh. If Tesla hopes to maintain demand for either of its higher margin luxury vehicles, new trims like this plaid powertrain will be essential.

Tesla first announced Ludicrous mode in its Model S vehicles way back in July 2015. As shareholders and customers awaited the Model X to arrive, Musk unveiled several options for the company’s Model S sedan, including a lower priced version, longer battery range and “Ludicrous mode” for even faster acceleration.

Ludicrous mode, which improved acceleration by 10% to let drivers go from 0 to 60 mph in 2.8 seconds, came about as a result of an improved battery fuse. This new fuse, Musk explained in a blog post at the time, has its own electronics and a tiny lithium-ion battery that monitors current and protects against excessive current.

Tesla also upgraded the main pack contactor with a high-temperature space-grade superalloy instead of steel. This enabled the battery pack to remain “springy” under the heat of heavy current. In the end, the max pack output increased from 1300 to 1500 Amps.

Ludicrous was a $10,000 add on for new buyers. Tesla did reduce the price for existing Model S P85 owners for the first six months following the announcement and sold them the pack electronics upgrade needed for Ludicrous Mode for $5,000.

Musk joked in this 2015 blog post that there is “one speed faster than ludicrous, but that is reserved for the next generation Roadster in 4 years: maximum plaid.”

Elon Musk, SEC agree to guidelines on Twitter use

Tesla,  Elon Musk and the U.S. Securities and Exchange Commission reached an agreement Friday that will give the CEO freedom to use Twitter —within certain limitations — without fear of being held in contempt for violating an earlier court order.

Musk can tweet as he wishes except when it’s about certain events or financial milestones. In those cases, Musk must seek pre-approval from a securities lawyer, according to the agreement filed with Manhattan federal court.

U.S. District Judge Alison Nathan, the presiding judge on this matter, must still approve the deal. Nathan had given the SEC and Musk two weeks to work out their differences and come to a resolution.

Musk must seek pre-approval if his tweets include:

  • any information about the company’s financial condition or guidance, potential or proposed mergers, acquisitions or joint ventures,
  • production numbers or sales or delivery number (actual, forecasted, or projected),
  • new or proposed business lines that are unrelated to then-existing business lines (presently includes vehicles, transportation, and sustainable energy products);
  • projection, forecast, or estimate numbers regarding Tesla’s business that have not been previously published in official company guidance
  • events regarding the company’s securities (including Musk’s acquisition or disposition of shares)
  • nonpublic legal or regulatory findings or decisions;
  • any event requiring the filing of a Form 8-K such as a change in control or a change in the company’s directors; any principal executive officer, president, principal financial officer, principal accounting officer, principal operating officer, or any person performing similar functions

The fight between the two parties began after Musk’s now infamous August 7, 2018 tweet that had “funding secured” for a private takeover of the company at $420 per share. The SEC filed a complaint in alleging that Musk had committed securities fraud.

Musk and Tesla settled with the SEC last year without admitting wrongdoing. Tesla agreed to pay a $20 million fine; Musk had to agree to step down as Tesla chairman for a period of at least three years; the company had to appoint two independent directors to the board; and Tesla was also told to put in place a way to monitor Musk’s statements to the public about the company, including via Twitter.

The fight was re-ignited after Musk sent a tweet on February 19 that Tesla would produce “around” 500,000 cars this year, correcting himself hours later to clarify that he meant the company would be producing at an annualized rate of 500,000 vehicles by year end.

The SEC argued that the tweet sent by Musk violated their agreement. Musk has said the tweet was “immaterial” and complied with the settlement.

The SEC had asked the court to hold Musk in contempt for violating a settlement agreement reached last October over Musk’s now infamous “funding secured” tweet. The SEC had argued that Musk was supposed to get approval from Tesla’s board before communicating potentially material information to investors, the agency has argued. The SEC claimed a February 19 tweet violated the agreement.

Musk has steadfastly maintained that he didn’t violate the agreement.

Elon Musk defends tweets in SEC’s contempt proceedings

Tesla CEO Elon Musk argued Friday that his Twitter use did not violate a settlement agreement with the U.S. Securities and Exchange Commission and that the agency’s request to have him held in contempt is based on a “radical interpretation” of the order, according to court papers filed in Manhattan federal court.

The SEC has asked a judge to hold Musk in contempt for violating a settlement agreement reached last year over Musk’s now infamous “funding secured” tweet. Under that agreement, Musk is supposed to get approval from Tesla’s board before communicating potentially material information to investors.

Musk contends he didn’t violate the agreement and that the problem lies in the SEC’s interpretation, which he describes as “virtually wrong at every level.” The filing also reveals new details about the settlement negotiations, notably that the SEC sent Musk a draft agreement that would have required him to obtain pre-approval for all public statements related to Tesla, in any format.

Musk and Tesla never agreed to those terms. Instead, Musk says the agreement requires him to comply with Tesla own policy, which would require pre-approval for “written communications that contain, or reasonably could contain, information material to the company or its shareholders.”

The barbs traded via court filings are the latest in an escalating fight between the billionaire entrepreneur and SEC that began last August when Musk tweeted that he had “funding secured” for a private takeover of the company at $420 per share.  The SEC filed a complaint in federal district court in September alleging that Musk lied.

Musk and Tesla settled with the SEC last year without admitting wrongdoing. Tesla agreed to pay a $20 million fine; Musk had to agree to step down as Tesla chairman for a period of at least three years; the company had to appoint two independent directors to the board; and Tesla was also told to put in place a way to monitor Musk’s statements to the public about the company, including via Twitter.

But the fight was re-ignited last month after Musk sent a tweet on February 19 that Tesla would produce “around” 500,000 cars this year, correcting himself hours later to clarify that he meant the company would be producing at an annualized rate of 500,000 vehicles by year end.

The SEC argued that the tweet sent by Musk violated their agreement. Musk has said the tweet was “immaterial” and complied with the settlement.

Tesla to bring portion of Model 3 production to China next year

Tesla, which reported its first quarterly profits in two years Wednesday, is looking to extend its earnings streak by bringing its new Model 3 to customers beyond North America. And part of that plan involves accelerating its manufacturing plans in China.

Tesla saw its revenue skyrocket to $6.8 billion in the third quarter (and a $312 million profit) thanks to sales of its new Model 3 vehicle, despite production bottlenecks and more recent issues with delivery logistics. The company was able to achieve that profitability milestone just through sales in the U.S. and Canada. That leaves two other massive markets on the table. Cue Europe and China.

Tesla said Wednesday it will start to take orders for the Model 3 in Europe and China before the end of 2018. Tesla said it will begin deliveries of the Model 3 to Europe early next year.

“The mid-sized premium sedan market in Europe is more than twice as big as the same segment in the U.S.,” Tesla said in its shareholder letter released Wednesday. “This is why we are excited to bring Model 3 to Europe early next year.”

Notably, the company is further accelerating its timeline for China and said it will bring portions of Model 3 production to the country next year.

“We are aiming to bring portions of Model 3 production to China during 2019 and to progressively increase the level of localization through local sourcing and manufacturing,” Tesla said in its earnings report. “Production in China will be designated only for local customers.”

Tesla said earlier this month it plans for as rapid build out of a factory in China. But there’s something new here. The term “portions of Model 3 production” is the important phrase. This could be referring to a term used in the manufacturing world known as a complete knock down. CKD is basically a kit of non-assembled parts of a product, like say a Model 3. It’s a strategy used to avoid tariffs when shipping to foreign countries.

Tesla has plans to build a factory in Shanghai, but construction hasn’t even begun yet.

The company secured in October rights to about 210 acres of land in Lingang, Shanghai, the site of the electric automaker’s planned factory and its first outside of the U.S.

Tesla warned in its production and delivery report in early October that tariffs, combined with the cost of shipping its vehicles via ocean carrier and the lack of access to cash incentives available to locally produced electric vehicles, has put the company at a disadvantage in China. Tesla reiterated those cost constraints in its third-quarter earnings report.

Tesla reached a deal in July with the Shanghai government to build a factory that it says will be capable of producing 500,000 electric vehicles a year. Once construction begins, it will take about two years until Tesla can produce vehicles. It will be another “two to three years before the factory is fully ramped up to produce around 500,000 vehicles per year for Chinese customers,” a Tesla spokesman said at the time.

Tesla Model 3 is ‘just a smaller, more affordable’ Model S, says Elon Musk

 The Tesla Model 3 is not a product iteration along the lines of successive iPhones, Elon Musk clarified on Twitter on Friday. Instead, it’s a “smaller model affordable versions of Model S” with less range, less power and fewer features, according to the Tesla CEO. The Model S is still going to be the leader in terms of it technological capabilities – so think more iPhone… Read More

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