2.6.2020 10:59 AM

Innovation

Musk Reads: Musk teases new vehicles as Tesla stock soars

Tesla stock is on the rise and Musk promises big battery boosts. Could the company make a minivan?

FREDERIC J. BROWN/AFP/Getty Images

Tesla stock is on the rise and Musk promises big battery boosts. Could the company make a minivan? It’s Musk Reads: Tesla Edition #140.

A version of this article appeared in the “Musk Reads” newsletter. Sign up for free here.

Musk quote of the week

“Giga Texas?”

Tesla

Tesla’s stock price has continued its upwards trajectory, hot from its fourth-quarter 2019 earnings where it earned $386 million in revenue. The stock price has followed a gradual upwards trajectory over the past few months, rising from just below $250 at the start of October to reach over $900 Tuesday. With a market cap of over $130 billion, Tesla has solidified its position as the world’s second most-valuable automaker. The success bodes well for Musk’s chances at receiving his $55.8 billion compensation package.

Catherine Wood, chief investment officer of ARK Invest, told The Guardian that the stock could soar to a staggering $7,000 by 2024, a figure that would drop to $1,500 in a bearish scenario and rise to $15,000 in a bullish scenario. Wood’s prediction is based on the theory that electric vehicles will drop below the price of a like-for-like gasoline car in the next 18 to 24 months.

During Tesla’s bumper earnings call, Musk made a number of tantalizing hints about the future:

  • The Tesla Model S is “rapidly approaching a 400 mile range … it won’t be long before Model S has 400 mile range.” Read more.
  • On the prospect of a high-capacity Tesla vehicle: “Will it make sense for us to do sort of a minivan or sort of Sprinter-like van or something like that? Probably.” Read more.
  • Tesla faces battery difficulties, but a planned Battery Day around April will “blow people’s minds.” Read more.
  • The Tesla Model Y will start shipping in limited quantities by the end of March. Read more.
  • On Tesla Cybertruck: “We’ve never seen this level of demand.” Read more.

Tesla solar

What comes next for the Tesla Solar Roof? The third-generation tiles have started shipping out to consumers. During the quarterly earnings call, Musk suggested that the company expects big growth in the future, as North America installs over 4 million roofs per year. With states like California mandating solar on new builds and prices dropping to below the cost of a roof plus solar, by Musk’s calculations, it could become a no-brainer. Read more.

What’s next for Tesla: Tesla is expected to start shipping the Model Y in March.

Shutterstock

In other Musk news…

Neuralink may host a second presentation this summer to explain its ongoing advancements. Musk suggested on Twitter that since the July 2019 presentation, the company has developed an “awesome” new version of the brain-computer linkup chip designed to help patients control a computer with their brain. Read more.

Musk Reads mailroom

John writes: Would [Tesla] consider resurrecting the Ford and Holden plants to assemble the Tesla vehicles in Australia? We have the expertise and the capabilities to make them efficiently so that the Australian people can start purchasing Tesla vehicles. I am sure the Australian Government would welcome the idea to create more employment.

Musk has called for a Gigafactory on every continent, which would suggest an Australian factory could make sense. Unfortunately, this week Musk seemed to suggest his next project could be a factory in Texas rather than continuing international expansion.

Robin Fawcett writes: Does Tesla have any plans to make battery powered lawnmowers? Cordless “electric” lawn mowers will run quietly and reduce pollution. In addition they would be lightweight and easy to maneuver.

No plans that we know of, but you may enjoy this fan-made video of what a Tesla lawn mower should look like.

Got any comments or queries? Don’t forget to send them over to muskreads@inverse.com.

Photo of the week

Model Y spotted in LA.

Got a photo or video you’d like to see featured? Send it over to muskreads@inverse.com!

The ultra-fine print

This has been Musk Reads: Tesla Edition #140, the weekly rundown of essential reading about futurist and entrepreneur Elon Musk. I’m Mike Brown, an innovation journalist for Inverse.

A version of this article appeared in the “Musk Reads” newsletter. Sign up for free here.

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