Amidst questions of misfiring Model 3 production targets, internal memos are attempting to boost employee morale, along with the deployment of a small group of volunteer reinforcements to help increase output. In a memo obtained by Bloomberg, two internal memos by Doug Field, Tesla engineering head, were sent to employees asking them to deliver more than 300 Model 3s a day, citing it as an “incredible victory.” “I find that personally insulting, and you should too,” read a portion of the March 23 email. “Let’s make them regret ever betting against us. You will prove a bunch of haters wrong.” “The world is watching us very closely, to understand one thing: How many Model 3’s can Tesla build in a week?” read a separate portion of Field’s note. “This is a critical moment in Tesla’s history, and there are a number of reasons it’s so important. You should pick the one that hits you in the gut and makes you … [Read more...] about Tesla Internal Memo Seeks to ‘Prove Haters Wrong’ to Hit Model 3 Production Goals
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CarAdvice podcast 96: New York motor show hits and misses!
In the studio this week is Mandy Turner, Mike Costello, and Kez Casey. It’s a New York motor show themed car news this week. The Genesis Essentia and Volkswagen Atlas Tanoak concepts have been revealed. The sheets have been pulled back on the 2019 Audi RS5 Sportback and Honda Insight, and a group of popular SUVs – Hyundai Tucson, Toyota RAV4, and Subaru Forester. Curt Dupriez tells us his thoughts on the 2018 Hyundai i30 N. Paul Maric, Alborz Fallah, and Tony Crawford discuss their New York motor show hits and misses, and Jez Spinks compares the Holden Commodore RS Sportwagon and Mazda 6 Touring Wagon. And Scott Collie talks to Marek Reichman, Executive Vice President and Chief Creative Officer at Aston Martin, at a Melbourne dealership. Check out the links below to listen in on this episode – and all previous episodes. Subscribe to the CarAdvice podcast:iTunes | Pocket Casts (Android, iOS, web) … [Read more...] about CarAdvice podcast 96: New York motor show hits and misses!
2018 New York Auto Show Hits, Misses, and Revelations
NEW YORK, New York — The New York International Auto Show has hereby won the right to call itself the North American International Auto Show next year, as it has usurped the erstwhile holder of that title, Detroit, with more newsy and relevant car and truck unveilings. Mercedes-Benz, BMW, and Porsche all will be here again in 2019. This year, New York has the usual fleet of new sport/utility vehicles, including such high-volume models as the Toyota RAV4 and Subaru Forester. But there are actual autos—cars—here as well, including a Nissan Altima that proves the brand’s revived commitment to the midsize sedan segment. And there is a concept car that has taken our breath away like no other concept, at Detroit, Los Angeles, Frankfurt, or even Geneva has, this year … HIT: Genesis Essentia Concept And the winner of the “Wait, that’s a Hyundai?” award is this breathtakingly beautiful concept car. What a work of art. —Aaron Gold … [Read more...] about 2018 New York Auto Show Hits, Misses, and Revelations
Tesla stock recovers a bit as company pushes to hit Model 3 target
By Alexandria Sage SAN FRANCISCO — Tesla shares rose on Thursday ahead of the expected release next week of the company's quarterly auto production data, while a senior executive urged workers at the automaker to hit a weekly production target of 2,500 Model 3 sedans by the end of March. Quickly ramping up Model 3 production is crucial for the Silicon Valley electric vehicle maker. The company's profitability depends on delivering the new sedans to customers on a waiting list that Tesla has said now numbers about 500,000 advance reservation holders. Tesla shares recovered to $266.13, up 3 percent, Thursday after a sell-off prompted by a Moody's debt downgrade and news that safety regulators are investigating a Model X-involved fatality. That's down from $304 a share on Tuesday. The markets will be closed today for Good Friday. In an email to employees viewed by Reuters and first reported by Bloomberg News, Tesla Senior Vice President of Engineering Doug Fields wrote that … [Read more...] about Tesla stock recovers a bit as company pushes to hit Model 3 target
UMW’s plan to increase stake in Perodua hits a snag
Earlier this month, UMW Holdings made a bid to increase its stake in Perodua through two separate share purchase offers, one of these looking at eventually completing the acquisition of auto parts company MBM Resources, which currently owns a 22.58% stake in the second national car company. That bid has hit a bump after the biggest shareholder of MBM Resources – which is involved in the manufacture of automotive parts/products and also the distribution and dealership of brands such as Perodua, Daihatsu, Hino, Mitsubishi, Volkswagen and Volvo in the country – rejected UMW Holding’s offer for a takeover, The Star reports. In a filing to Bursa Malaysia, UMW said Med-Bumikar Mara and its wholly-owned subsidiary, Central Shore (CSSB), had separately rejected its offer to acquire the two companies’ collective 50.07% equity interest in MBM Resources. The deal, reportedly worth RM501 million, would have triggered a mandatory offer for the rest of the shares in MBM … [Read more...] about UMW’s plan to increase stake in Perodua hits a snag