DOCSLIB.ORG

Part 1 1. Introduction 2. Elon's Battery Day & Other Tesla News

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Part 1 1. Introduction 2. Elon's Battery Day & Other Tesla News Battery Day – Part 1 By John Benson September 2020 1. Introduction This post has been in the oven a long time. Originally Elon said that his “battery day” would be in April, and he would be announcing some breakthrough information. I started collecting information on his recent battery developments long before he announced this event. After Elon slipped battery day several times, I got tired of waiting and posted the paper described and linked below in late July. The earlier paper described Tesla’s battery R&D center (in Fremont near their mothership auto plant), the chemistries that Tesla is using, his long lifetime (a.k.a. “million mile”) battery developments, dry battery electrode development (via Maxwell), the magic number ($100 per kWh), and summarized developments I had announced in earlier posts. https://energycentral.com/c/gn/battery-breakthroughs Since Elon finally had Battery Day on September 22, I will post Part 1 on the 29th and cover this event and other Tesla information in Chapter 2. After chapter 2, the others (in Part 2) will cover: other (non-Tesla) battery developments, the new current largest battery energy storage system (BESS) in the world (also non-Tesla), the upcoming new largest BESS (Tesla), and finally any other recent or near future major BESS projects (mainly in California). 2. Elon’s Battery Day & Other Tesla News Elon was very lucky and very smart when he rolled out his first significant battery electric vehicle (BEV), the Model S, in that he selected Panasonic as his battery partner. They jointly built Gigafactory 1 to manufacture batteries for his BEVs and BESS. Even though production was miniscule compared to today’s, he had really big dreams and understood that lack of capacity to produce enough state-of-the-art batteries was a major potential obstacle to fulfilling those dreams. Still is. Now that Tesla is producing more than 300,000 BEVs a year, and some really, really big BESS, he needs to take the next step. Not just produce his own batteries, but produce the best BEV and BESS batteries in the world – the highest energy capacity, most powerful, lightest (for BEVs), least expensive and longest-lasting batteries in the world, and make them by the gazillions. 2.1. Tesla’s Battery Day I have collected several articles on Battery Day, and will reference them below. Each subsection below will either cover a major breakthrough Tesla has made with their new batteries or other major announcements. 2.1.1. Batteries: 4680 Cell Design The Tesla Roadster, Model S, and Model X all use individual 18650 cells--the same kind found inside one of those chuckin' cloud vapes that the young people love so much. The 1 Model 3 and Model Y received 2170 cells, which have a volume around 50 percent larger than its predecessor and also delivers nearly twice the energy density… Tesla's new cell is the 4680. Tesla claims that the cell has five times the energy stored within compared to the 2170. This means 16 percent more range over current cells and a 14 percent reduction in cost.…1 Musk and team talked next about innovations in anode design, using silicon instead of graphite because it can store nine times as much (energy?) as graphite. Although there is a lot of concern about how much lithium is required for battery production, Musk argued that it was the most abundant element in the earth’s core after oxygen. In fact, he said that just Nevada had enough lithium to convert all the cars in America to EVs. The problem with using silicon is that it doesn’t last well through multiple charge-recharge cycles due to expansion, and traditional methods to combat this are expensive. So Tesla intends to use raw metallurgic silicon instead, and stabilize the surface with an elastic ion-conduction polymer coating that can cope with expansion (see slide below). 2 This enhancement would lead to a 5% reduction per kWh – perhaps not as much as other areas, but it all adds up. …Tesla announced that it will be using more Nickel in its cathodes, eventually leading to the complete removal of cobalt. This will reduce the cost of cathodes by 15% per kWh. Tesla also plans to simplify the production process considerably, leading to a 76% reduction in process cost. This would have added benefits of using recycled water leading to no waste and enabling the use of more sustainably mined and sourced ores, with greater opportunities for recycling. 1 Rob Stumpf, MSN The Drive, “Tesla Battery Day: Musk Promises Double the Range from New Design and a $25,000 EV”, Sep 21, 2020, https://www.msn.com/en-us/autos/enthusiasts/tesla-battery-day-musk- promises-double-the-range-from-new-design-and-a-dollar25000-ev/ar-BB19jHmQ 2 James Morris, Forbes, “Tesla Reveals Plan To Halve EV Battery Costs At Battery Day 2020”, Sep 22, 2020, https://www.forbes.com/sites/jamesmorris/2020/09/22/tesla-reveals-plan-to-halve-ev-battery-costs- at-battery-day-2020/#76c132a37f74 2 Elon Musk recently clarified that Tesla’s new 4680 cells are already being deployed in some of its vehicles as prototypes. Even more interesting is that the next-generation batteries have already been in use for several months, though the CEO did not state which of its vehicles are equipped with the 4680 Roadrunner batteries.3 The Tesla CEO related his update in a recent post on Twitter. While responding to a question about the company’s strategy with its cathodes and its suppliers, Musk noted that Tesla’s own battery cells are already powering some of its cars. That being said, Musk clarified that ultimately, prototypes such as cars that currently run on the company’s 4680 cells are trivial, as they are incomparably simpler than actual volume production. “We’re only doing high energy nickel ourselves, at least for now. Also, maybe the presentation wasn’t clear that we’ve actually had our cells in packs driving cars for several months. Prototypes are trivial, volume production is hard,” Musk wrote. Interestingly enough, Elon Musk noted that Tesla is only producing cells that feature high-energy nickel cathodes for now. During Battery Day, Tesla’s slide outlining its cathode strategy listed the Semi and the Cybertruck as vehicles that will be using high- energy nickel. However, the CEO did not confirm if the Cybertruck prototype or the twin Semis doing road tests across the United States are now equipped with 4680 cells. Such a scenario seems plausible as both vehicles only have prototypes today. Using 4680 cells for the Cybertruck and the Semi would be strategic for Tesla, especially since both are heavy-duty machines that are designed to be as tough as possible. The Cybertruck is quite literally created to topple the kings of the pickup market, and the Semi is designed to disrupt the long-haul segment, which is known for its consistent, heavy demands for its vehicles. Needless to say, Tesla’s mettle as an automaker will be 3 Simon Alvarez, Teslarati, “Tesla’s new 4680 battery cells have been deployed in working vehicles for months”, Sep 27, 2020, https://www.teslarati.com/tesla-deploys-4680-cells-roadrunner-batteries/ 3 put to the test by the Cybertruck and Semi, and their 4680 high-nickel cells could be their trump card against the competition. That being said, the first vehicle that would likely be released with Tesla’s 4680 cells will be the Model S Plaid, which was announced on Battery Day… (See section 2.1.6). 2.1.2. Structure Improvements Presently, Tesla already stows the batteries away in the floor of the car, however, Musk compares this akin to luggage. Tesla will use its new casting process to integrate battery rigidity into the car's structural support, strengthening it even further than a modern floor- mounted battery pack. The cells can be packed even closer to the center of the vehicle, improving vehicle handling, range opportunity, as well as decreasing overall mass and parts complexity.1 With the changes to storage, increase efficiency in cells, and overall packaging of the battery, Tesla believes that the new changes enable up to a 54 percent increase in vehicle range. That would be a massive, massive jump from a company that already has the longest range EVs in the business. “The non-cell portion of the battery has negative mass,” Musk said. “We saved more mass in the rest of the vehicle than in the non-cell portion of the battery. So how do you really minimize the mass of the battery? Make it negative.”4 The minimization of mass allowed the automaker to increase the density of the battery pack. Individual cells could be positioned more efficiently because excessive structures within the pack itself were eradicated. The new Tesla battery design … improves pack density along with structural integrity. Additionally, the filler within the Model 3 and Model Y packs, which currently uses a flame retardant, now uses a structural adhesive and flame retardant. This adhesive effectively attaches the cells to the top and bottom sheets of the pack. “This allows you 4 Joey Klender, Teslarati, “Tesla outlines new casting and battery architecture, future of EV designs”, Sep 23, 2020, https://www.teslarati.com/tesla-casting-battery-architecture-ev-designs/ 4 to do sheer transfer between the upper and lower sheet,” which increases stiffness and prevents major deformation in the event of a crash. Improvements in the casting design of Tesla’s future cars and the newly designed battery architecture, which uses new materials and strategies to increase stiffness, will increase the already safe vehicles that the company manufactures.
Load more

Recommended publications
  • The Lithium Wars: from Kokkola to the Congo for the 500 Mile Battery
    sustainability Article The Lithium Wars: From Kokkola to the Congo for the 500 Mile Battery Philip Cooke Mohn Center for Innovation & Regional Development, Department of Engineering, Western Norway University of Applied Sciences, 5020 Bergen, Norway; [email protected]; Tel.: +44-2920-486702 Abstract: This paper presents an analysis and interpretation of the current state of play in the global value network of minerals mining, refining and transformation processes in the contemporary battery industry, which will power potentially crucial future industries for manufacture of electric vehicles (EVs) and solar-storage energy systems. The dark influence of the carbon lock-in landscape is gradu- ally being mitigated under the challenge of achieving the “500 mile” battery charge, which would make a transformational difference in the replacement of renewably fuelled vehicles and storage systems, currently still predominantly driven by fossil fuels. The challenge has led to a “war” be- tween manufacturers, miners and refiners, who have realised that the challenge has come alive while most have been vacillating. At an “individualist” rather than an “institutionalist” level, Elon Musk, for all his faults, deserves credit for “moving the market” in these two important industry sectors. This paper anatomises key events and processes stimulating change in this global economic activity through an “abductive” reasoning model and a qualitative “pattern recognition” methodology that proves valuable in achieving rational, probabilistic forecasts. Established incremental innovation characterises first responses in the “war” but research agencies like ARPA are active in funding research that may produce radical battery innovation in future. Citation: Cooke, P. The Lithium Keywords: batteries; lithium; renewable energy; cobalt; gigafactories Wars: From Kokkola to the Congo for the 500 Mile Battery.
    [Show full text]
  • Tesla Motors Value Statement
    Tesla Motors Value Statement How unremunerative is Rubin when tuberculate and khaki Cody quantify some murthers? Nonpathogenic or blue-black, Luigi never rovings any copings! Raspier Aharon disliked some unfaithfulness after filibusterous Ernest prog inoffensively. Chairman of the property He's selling us a vision such a magical techno-wonderland There's open an. Democrat joe hune added including colorado. These enrich the 12 Most Overvalued Stocks in America Right Now. Tesla shares fall as largest outside shareholder cuts holding. We move electricity over decision making its past year surprisingly hard elements for nearly three times. The customer first fiscal year with respect to reserve account can be able to emissions standards in various stake holders of different vehicle styling without cause for? How it Does Elon Musk Make our Day Market Realist. Of breath last twelve months LTM at income statement level together almost the margins. Evaluation of Mission Vision Value Statements Tesla and Elon Musk make eating very possible in the provisional sentence on Tesla's corporate web page. Or diesel car or truck because news will offset poor resale value in immediate future. Strategic positioning of tesla motors Essay Company. We have happened to maintain only continue to keep up with us to individual investors seem an attempt to pump out of. Let's go More About Tesla Its stock Value Brand Medium. This ownership mindset supports Tesla's corporate vision and mission statements by. If i explored whether this technology but there are created their performance. But picture is an increase in enough in absolute values by USD 196 Million or.
    [Show full text]
  • March 2018 Monthly Update
    Sustainable Technology and Infrastructure Monthly Market Update March 2018 Performance of Key Market Indices 35% 25% 19% 17% 15% 16% 12% 5% (5%) Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 NASDAQ Clean Edge Green Energy Dow Jones Industrial Average NASDAQ Composite S&P 500 Index Performance March Ending Versus First Day of the March YTD CY 2017 52 Wk High 52 Wk Low Dow Jones Industrial Average (2.1%) (2.5%) 25.1% (9.4%) 18.1% NASDAQ Composite (1.6%) 2.3% 28.2% (6.9%) 21.7% S&P 500 (1.4%) (1.2%) 19.4% (8.1%) 13.4% NASDAQ Clean Edge Green Energy (0.6%) (4.0%) 30.8% (9.5%) 19.7% Notable Recent Transactions & Capital Raises Acquiror Target Transaction Description Corporate Transactions Acquired a majority stake in innogy from RWE, and the remaining interest in a public takeover Acquired a U.S. wind owner and operator with ~1.7 GW of capacity from ArcLight Capital Corporate M&A and All-stock merger of two water utilities in a deal worth approximately $1.01bn Asset Transactions Acquired various California refining and pipeline assets / facilities from Delek and AltAir Asset Transactions Acquired five solar thermal projects in Spain with a combined capacity of 250 MW for €1.09bn Acquired indirect interests in three Californian solar projects totaling 235 MW Company Transaction Description Manufacturer of smart thermostats raised $61mm in Series C equity from Energy Impact Partners, Thomvest, Relay Ventures, Amazon’s Capital Raises Alexa Fund Chinese bike-rental startup raised $866mm in funding from Alibaba Group Holding, Haofeng Group, Tianhe Capital, Junli Capital and Ant Financial Note: M&A transaction values are in enterprise value, unless indicated otherwise.
    [Show full text]
  • June 24, 2020 Dr. Annette Tielle Superintendent Del Valle Independent School District 5301 Ross Road Del Valle, Texas 78617
    June 24, 2020 Dr. Annette Tielle Superintendent Del Valle Independent School District 5301 Ross Road Del Valle, Texas 78617 Re: Certificate for Limitation on Appraised Value of Property for School District Maintenance and Operations taxes by and between Del Valle Independent School District and Colorado River Project, LLC, Application 1496 Dear Superintendent Tielle: On June 19, 2020, the Comptroller issued written notice that Colorado River Project, LLC (applicant) submitted a completed application (Application 1496) for a limitation on appraised value under the provisions of Tax Code Chapter 313.1 This application was originally submitted on June 3, 2020, to the Del Valle Independent School District (school district) by the applicant. This presents the results of the Comptroller’s review of the application and determinations required: 1) under Section 313.025(h) to determine if the property meets the requirements of Section 313.024 for eligibility for a limitation on appraised value under Chapter 313, Subchapter B; and 2) under Section 313.025(d), to issue a certificate for a limitation on appraised value of the property and provide the certificate to the governing body of the school district or provide the governing body a written explanation of the Comptroller’s decision not to issue a certificate, using the criteria set out in Section 313.026. Determination required by 313.025(h) Sec. 313.024(a) Applicant is subject to tax imposed by Chapter 171. Sec. 313.024(b) Applicant is proposing to use the property for an eligible project. ________________________ 1 All Statutory references are to the Texas Tax Code, unless otherwise noted.
    [Show full text]
  • 1 a Simulation-Based Assessment of Plug-In Hybrid Electric Vehicle
    A Simulation-Based Assessment of Plug-in Hybrid Electric Vehicle Architectures by Daniel Sotingco B.S. Mechanical Engineering Franklin W. Olin College of Engineering, 2010 SUBMITTED TO THE DEPARTMENT OF MECHANICAL ENGINEERING IN PARTIAL FULLFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF SCIENCE IN MECHANICAL ENGINEERING AT THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY June 2012 ©2012 Massachusetts Institute of Technology All rights reserved. Signature of author: ………………………………………………………………………………………………………………………………….. Department of Mechanical Engineering May 11, 2012 Certified by: ……………………………………………………………………………………………………………………………………………… Professor Jerome Milgram William I. Koch Professor of Ocean Engineering Thesis Advisor Accepted by: …………………………………………………………………………………………………………………………………………….. Professor David E. Hardt Ralph E. and Eloise F. Cross Professor of Mechanical Engineering Chair, Committee on Graduate Students 1 2 A Simulation-Based Assessment of Plug- in Hybrid Electric Vehicle Architectures By Daniel S. Sotingco Submitted to the Department of Mechanical Engineering on May 11, 2012 in Partial Fulfillment of the Requirements for the Degree of Master of Science in Mechanical Engineering Abstract Plug-in hybrid electric vehicles (PHEVs) are vehicles that utilize power from both an internal combustion engine and an electric battery that can be recharged from the grid. Simulations of series, parallel, and split-architecture PHEVs, as well as parallel and split PHEVs with ultracapacitors, were performed in Autonomie, the vehicle simulation package released by Argonne National Laboratory as the successor to the Powertrain System Analysis Toolkit (PSAT). The PHEV configurations were parameterized by battery capacity, motor peak power, engine peak power, and ultracapacitor capacity if applicable. Results were compared to EPA data for the Chevrolet Volt and Toyota Prius, showing close agreement on values for fuel consumption, charge-depleting range, and acceleration time.
    [Show full text]
  • March 25-28, 2019 36Th ANNUAL
    FINAL WEEKS LONGEST RUNNING TO REGISTER! 36th ANNUAL March 25-28, 2019 36th ANNUAL COVER BATTERY EVENT SPONSORSHIP & EXHIBIT PLENARY KEYNOTES TUTORIALS & TRAINING SEMINAR AGENDA r&d stream ADVANCED BATTERY TECHNOLOGIES FOR CONSUMER, AUTOMOTIVE & MILITARY APPLICATIONS • Next-Generation Battery Research Fort Lauderdale Convention Center | Fort Lauderdale, FL • Lithium-Ion Development & Commercialization • n manufacturing stream InternationalBatterySeminar.com • High Performance Battery CONFERENCE PROGRAMS Manufacturing • Lithium-Ion Development & Commercialization Corporate Sponsors: applications stream • Battery Power for Automotive Applications A Delta ModTech Company • Battery Power for Consumer Electronics r&d manufacturing applications engineering • Alternative Applications in stream stream stream stream Energy Storage • Next-Generation • High Performance • Battery Power for • Battery Safety engineering stream Battery Research Battery Manufacturing Automotive Applications • Battery Management • Battery Safety • Lithium-Ion • Lithium-Ion • Battery Power for Systems Development & Development & Consumer Electronics • Battery Management Commercialization Commercialization • Alternative Applications Systems in Energy Storage HOTEL & TRAVEL REGISTRATION PLENARY KEYNOTE PRESENTATIONS PLENARY KEYNOTE PANEL DISCUSSIONS Click Here to register Online 1000, 2000, 3000 .... N Cycles from What Innovations/Advancements Do OEMs Need to InternationalBatterySeminar.com Li-Ion Cells: How Large Can N Be? Enable Near-Term, Large-Scale Production? Jeff
    [Show full text]
  • Sustainable Technology and Infrastructure Monthly Market Update February 2019
    Sustainable Technology and Infrastructure Monthly Market Update February 2019 Performance of Key Market Indices 20.0% 10.0% 6.7% 5.6% 5.2% 0.0% 4.3% (10.0%) (20.0%) Feb-18 Apr-18 Jun-18 Aug-18 Oct-18 Dec-18 Feb-19 NASDAQ Clean Edge Green Energy Dow Jones Industrial Average NASDAQ Composite S&P 500 Index Performance February Ending Versus First Day of the February YTD CY 2018 52 Wk High 52 Wk Low Dow Jones Industrial Average 11.4% 11.4% (5.6%) (3.1%) 19.2% NASDAQ Composite 13.9% 13.9% (3.9%) (6.8%) 22.0% S&P 500 11.4% 11.4% (6.2%) (4.7%) 18.8% NASDAQ Clean Edge Green Energy 18.7% 18.7% (13.2%) (0.3%) 27.5% Notable Recent Transactions & Capital Raises Acquiror Target Transaction Description Corporate Transactions Tesla acquired Maxwell Technologies, a developer of energy storage technologies and products, for $218mm Corporate M&A and Royal Dutch Shell acquired sonnen, a provider of Asset Transactions smart energy storage systems and residential energy services, for an undisclosed amount Asset Transactions A consortium of European investors acquired an 80% stake in the 400 MW Veja Mate offshore wind farm from Copenhagen Infrastructure Partners and Laidlaw Capital Group for ~$2.6bn AEP acquired Sempra Renewables, which owns 724 MW of operating wind generation and battery assets across the U.S., for ~$1.1bn Company Transaction Description OVO Energy, the UK’s largest independent energy technology company and supplier, raised capital from Mitsubishi Capital Raises Rivian, an automaker focused on manufacturing electric trucks and SUVs, raised $700mm from Amazon Ynsect, a producer of insect-based protein used as fish and poultry feed, raised a $125mm Series C Round led by Astanor Ventures Greentech Advised on Transaction About Greentech Capital Advisors Our mission is to empower companies and investors who are creating a more efficient and sustainable global infrastructure.
    [Show full text]
  • 1 Tesla Q2-2021 Update
    Tesla Q2-2021 Update By John Benson July 2021 1. Introduction When I write about Tesla, I write (mostly) about their battery electric vehicles (BEVs). Rarely do I suffer from a lack of material regarding this subject, but I guess we are currently in the summer doldrums, because I am running short of new news for the Tesla BEVs. About a week ago, I thought I might need to push this post into August. However suddenly, some material on major Tesla Battery Energy Storage Systems (BESS) have come to light. Then several interesting pieces about the BEVs popped up, and suddenly I have enough material for a post (albeit a minor one). The last post on this subject, in May, is described and posted below. Tesla 2021 Update: I am starting to write this about a month before I plan to post it, and only three months after my last post that dealt heavily with Mr. Musk’s battery electric vehicle company. However, such is the pace of developments from said company that my “Tesla bucket” is close to overflowing, so I need to start putting these in a paper. This post will focus on Tesla Mobility Products, but cover a wide range of subjects, including: • Production Results • Manufacturing and Components • Future Vehicles • Safety • Berlin & Shanghai Gigafactories and Texas Terafactory https://energycentral.com/c/ec/tesla-2021-update I already started out this month with articles on new vehicle shipments, and I will lead with this in Section 2, then the BESS News, then the rest of the BEV News.
    [Show full text]
  • Tesla Inc 3 Takeaways from 4Q20 Earnings Call
    一般風險披露聲明 本報告所載的資料只屬一般簡介，並不能作為專業法律、財務或其他意見或行事依據，亦不應被理解為購 入、出售或投資任何產品之建議、邀請、廣告、或引導。輝立證券集團("本公司")力求但不保證有關資料準 確或完整，客戶不應根據本報告或當中資料作出任何決定。本公司對本報告內資料所引致之任何損失或虧 損概不負任何責任。假如你對本風險披露聲明的內容有不明白或對投資產品未有足夠認識，請與本公司查 詢並詳盡了解。如要做任何投資，亦應尋求獨立的專業意見。 海外投資產品不受香港聯合交易所/其他香港監管機構監管，而此類產品亦不受賠償基金的保障。在其他司 法管轄的市場交易，或會涉及額外的風險(如政府政策的改變、稅務和政治發展等)。因此，你應瞭解買賣海 外投資產品的性質及風險，並就本身的投資經驗、風險狀況及其他相關因素，小心考慮自己是否適合參與 該等買賣。如有任何疑問，應咨詢專業意見。 投資涉及多種風險，包括市場、匯率、波動性、流動性、信貸/對手方、評級下降、監管及政治等。投資產 品價格可升可跌，並可能非常波動，會變成毫無價值，甚至被要求存入額外的保證金，而蒙受損失。投資 者作出任何投資決定前，應細閱各投資產品之銷售文件所載的條款及條件，瞭解該產品的風險、特性及限 制等是否適合其個人的財務狀況、投資目標及可承受之風險。本公司或其行政人員、董事、分析員或僱員 可在報告所述之公司擔任董事，並可能持有本報告所述投資產品，或可以委託人或代理人身 份 買賣此等產 品。本公司可不 時 為本報告所 提 及之公司，提供 投資 銀 行或其他 服 務、或 向 其 招攬 投資 銀 行或其他業務。 本報告內的資料為本公司 版權 所有。在 沒 有本公司事前 書面許 可下，不可以 部 分 地 或 全部地複製 本文件。 證券及債券交易風險 證券價格有 時 可能會非常波動。證券價格可升可跌，甚至變成毫無價值。買賣證券未 必 一定能夠 賺取利 潤，反 而可能會 招 致損失。債 券價格有 時較 為 穩 定，但發行人一 旦違約 ，你可能導致損失 全部 本金及應 收 利息 。 Editor : Ivan Lau Tel : +852-2277-6678 e-mail : [email protected] Disclaimer The information contained in the report(s) is provided to you for information only and is not intended to or nor will it create/induce the creation of any binding legal relations. The information or opinions provided in the report(s) do not constitute an investment advice, an offer or solicitation to subscribe for, purchase or sell the e investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources believed to be reliable. However, Phillip Securities(HK) Ltd("PSHK") does not verify such information.
    [Show full text]
  • How Tesla Was Lured to Austin
    How Tesla Was Lured to Austin Travis County offered the electric car giant a package of tax incentives worth about $1,200 a year for each of the five thousand jobs it promises to create at its new factory. BY: ISAAC ENGELBERG DATE: JULY 29, 2020 ​ ​ Amid a frog-drowning on Sunday, several dozen members of the Austin Tesla Club gathered jubilantly in a parking lot in East Austin. Masked fans cheered as a middle-aged man flashed the Bevo with one hand and fired a flamethrower with ​ the other. The crowd was there to celebrate ​ the deal between Travis County and the electric car manufacturer, inked late last week, to build a $1.1 billion, two-thousand-acre factory, named Giga Texas, in the tiny municipality of Del Valle, near Austin-Bergstrom International Airport. The proposed Tesla plant, which will produce Cybertrucks and Model Y SUVs, is expected to be a billion-dollar investment that will employ five thousand in manufacturing jobs and benefit hundreds of contractors and suppliers. When the deal was announced, Tesla said that about 65 percent of the factory’s jobs will be “middle-skilled” and will not require college degrees, with salaries starting at $35,000 a year and averaging more than $47,000. The company pledged to make at least half of ​ ​ its hires from among Travis County residents, and stated it would make a “good faith effort” to hire women and people of color. The deal was praised by Governor Greg Abbott, the Austin Chamber of Commerce, various local labor groups, and leaders of job training programs.
    [Show full text]
  • Watchdog Report for Tesla
    Tesla, Inc. Watchdog Report ™ 10/10/2019 Tesla, Inc. (TSLA) Watchdog Report by Watchdog Research, Inc. TSLA (NASDAQ Global) | CIK:1318605 | United States Anticipating Gray Swan Events Oct 4, 2019 Jan 1, 2018 Jan 1, 2014 Key Facts RECENT PERIOD HISTORICAL PERIOD 10-Q led on Jul 29, 2019 for period ending Jun 2019 Business address: Palo Alto, California, United States Industry: Automobile Manufacturing (NAICS 336111) Reporting Irregularities RECENT HISTORICAL SEC ler status: Large Accelerated Filer as of Jun 2019 Financial Restatements Index member: Russell 1000 Revisions Market Cap: $42.2b as of Jul 29, 2019 Annual revenue: $21.5b as of Dec 31, 2018 Out of Period Adjustments Corporate Governance Late Filings Impairments CEO: Elon Musk since 2008 CFO: Zachary Kirkhorn since 2019 Changes in Accounting Estimates 1st level Disclosure Controls Board Chairman: Robyn M. Denholm since 2018 Internal Controls Audit Committee Chair: Robyn M. Denholm 2nd level Critical / Key Audit Matters Auditor: PricewaterhouseCoopers LLP since 2004 Anomalies in the Numbers Outside Counsel (most recent): Paul Weiss Rifkind Wharton & Garrison RECENT HISTORICAL LLP Benford's Law Fenwick & West LLP 3rd level Beneish M-Score SEC Reviewer: (unknown) Accounting Disclosure Complexity 4th level Securities & Exchange Commission Concerns RECENT HISTORICAL SEC Letters to Management Revenue Recognition Non-GAAP Measures Lawsuits RECENT HISTORICAL Signicant Litigation Class Actions Watchdog Research, Inc., offers both individual and group subscriptions, Securities Law data feeds and/or custom company reports to our subscribers. Subscribe: We have delivered 300,000 public company reports to over External Pressures RECENT HISTORICAL 27,000 individuals, from over 9,000 investment rms and to 4,000+ public company corporate board members.
    [Show full text]
  • 2020 | Annual Report
    Opportunity Austin 2020 | ANNUAL REPORT 1 Table of Contents Economy 5 – 2020 Scorecard 8 – Relocations 10 – Expansions & Relocations 13 – Global Technology & Innovation 14 – ConnectFirst Talent 16 – Education & Talent Place 19 – Transportation 20 – Local Advocacy 21 – State & Federal Advocacy OA 4.0 23 – Financials 24 – Regional Partners 28 – 2020 GAEDC Board of Directors 30 – Investors For more information: opportunityaustin.com Message to Investors Without question, the 2020 calendar year was dominated by the pandemic and the numerous challenges associated with the disease. As we reflect on the past year, we recognize that many individuals and businesses are struggling to start anew in 2021. That said, it is a fact that the Austin region fared better than most in the country and we are poised to lead the nation in recovery during 2021. Central Texans owe a debt of gratitude to those who invest in Opportunity Austin 4.0. Established in 2004, OA is now in the middle of its fourth five-year program of economic growth goals and objectives. As a result of your investment and personal involvement, we have much good news to share and to celebrate: #1 year in OA history for combined total jobs announced #1 year in OA history for jobs announced from relocations #3 year in OA history for jobs announced and number of projects for expansions 138 venture capital deals $1.78B for local companies In addition to the announcement of Tesla’s Giga Texas, for which the Austin Chamber/Opportunity Austin was awarded Business Facilities’ 2020 Deal of the Year Gold Award, we also welcomed relocations and expansions from Oracle, Amazon, BAE Systems and numerous other great companies.
    [Show full text]