2022 Tesla Model Y Performance on 2040-cars

Auto blog

Wall Street loves Tesla's Elon Musk, values the brand higher than Fiat

Tesla's value on the stock market far exceeds the number of vehicles it contributes to the automotive market. According to a report from Automotive News, Tesla is currently valued at $8.8 billion. Almost unbelievably, though we've never claimed to have a firm grasp on the inner workings of the stock market, that's a full billion dollars more valuable than Fiat and three times more valuable than PSA Peugeot Citroën, says the report.
How unfathomable is that statistic? Consider the fact that Tesla, a ten-year-old company, just managed to turn its very first profit last quarter and has produced fewer than 10,000 vehicles in its lifetime. How does that compare to an automotive giant like Fiat? Well... it doesn't - The brand sold 44,772 Fiat 500s in the United States alone in 2012, and it owns or controls the Chrysler portfolio of brands along with Ferrari and Maserati... not to mention the hundreds of thousands of cars Fiat Group sells yearly in the rest of the world.
Granted, the number of vehicles sold by a brand is just a small portion of its value, but you may still wonder, Why is such a seemingly small player in the global automotive marketplace such a big deal on Wall Street? According to AN, it has a lot to do with its controversial and headline-grabbing CEO, Elon Musk, and the way he disseminates company information to his investors. How so? We suggest you take a good look at the article here for the whole story.

Tesla working to eliminate side mirrors

Of all the concept car technologies, one of our favorites has been the deletion of side-view mirrors in favor of video cameras. Besides improving the look of the car, it'd lower drag and improve fuel economy. However, cost, available technology, and most importantly, the government, stand in the way of this tech making it onto a production model.
It's that last facet that Tesla is seeking to change. As Automotive News explains, when the Model X debuted in concept form, it was without wing mirrors. But when the production car was revealed, it had the conventional mirrors, largely because the camera'd car violated the National Highway Traffic Safety Administration's Federal Motor Vehicle Safety code (Standard 111, to be precise).
Now comes word that Tesla has actively been lobbying the NHTSA to do away with the standard. It's got breathing room at the moment. We reported a few months ago that the federal mandate regarding backup cameras had been pushed back to 2015. That gives Tesla plenty of time to work the safety administration over regarding the mirror replacement, getting the new tech approved in the next mandate.

California grants Tesla $34.7 million tax break to boost production

Tesla Motors' plans to expand just got a big boost, as the state of California has announced it will give the Palo Alto-based company a $34.7 million tax break to increase its production capacity. The EV manufacturer is being given a pass on sales and use taxes on up to $415 million worth of equipment, according to a report on the San Francisco Chronicle's website.
Tesla is currently on track to produce 21,500 cars, although the planned expansion should more than double that capacity to 56,500 units, adding 112 jobs at Tesla's Fremont factory. "I'm pleased we could take this action to encourage Tesla to expand its electric vehicle production in California, which will create green jobs and improve our air quality," State Treasurer Bill Lockyer said. The state estimates that between the additional jobs and (hoped for) increase in sales, it will recoup the costs of the tax break in more taxes.