Tesla’s stock surpasses $500, total value now exceeds Ford and GM’s combined – Blog – 10 minute

In context: Despite a few setbacks over the years, Tesla is now doing quite well for itself. In 2019, it managed to ship an impressive (by Tesla standards) 367,500 vehicles, and it’s rapidly opening up new “gigafactories” throughout the world. If that wasn’t enough for the electric carmaker, though, there’s more good news for it to boast about now.
Yesterday, Tesla’s stock surpassed $500 per share, which has pushed the EV maker’s total valuation to roughly $94.6 billion as of writing. That’s an astounding figure for such a comparatively small car company and one that Tesla is probably pretty pleased with. Notably, it also makes Tesla America’s most valuable car company (for now).
The $94.6 billion number is made even more impressive when it’s put into the appropriate context. As other outlets have noted, Tesla’s total valuation is higher than not just that of other carmakers, but also the combined value of some such companies — Ford and GM, for example. The two automotive giants are, as of now, worth $36.64 billion and $50 billion, respectively.

Of course, as great as this news will be for Tesla’s executives and stockholders, there’s no guarantee this rapid stock price growth will be sustainable in the long term. Tesla has seen quite a bit of success and stability over the past few months in particular, but the company’s past is still troubled, especially where production is concerned. We’ll have to wait and see whether those troubles will rear their heads again in the future.
For now, though, Tesla (and anyone who’s purchased its stock) gets to enjoy the fruit of its labor. For our part, we look forward to seeing how Tesla’s stock performs over the next few months. Will it rise further and take the company beyond the $100 million ceiling or will it fall back down to earth? Only time will tell.

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Ford unveils lineup for Europe to outpace gas and diesel vehicle sales by 2022 – gpgmail


Ford unveiled a range of hybrid vehicles Tuesday at the Frankfurt Motor Show as part of its plan to reach sales of 1 million electrified vehicles in Europe by the end of 2022.

Ford introduced hybrid and plug-in hybrid versions of the Mondeo wagon, Puma compact crossover, Kuga (shown below) and Explorer SUVs as well as the new Tourneo “people mover” at the show.

FORD KUGA SIDE CHARGING

But more are coming. Ford said earlier this year it plans to bring eight electrified vehicles to market this year and another nine that will be produced by 2024. One of those, an all-electric Mustang-inspired SUV, will come to market in 2020. The electric SUV with Mustang styling has a targeted range of 600 km (more than 370 miles) calculated using the World Harmonised Light Vehicle Test Procedure (WLTP), and fast-charging capability.

Ford expects that electrified vehicles will account for more than 50% of its car sales in Europe by 2022, surpassing combined sales of conventional petrol and diesel models.

Ford’s upcoming portfolio is part of its broader plan to make its Europe division leaner and more profitable. The company said in June it will cut 12,000 jobs and consolidate its manufacturing footprint to a proposed 18 facilities by the end of 2020. Most of the job cuts, 2,000 of which are salaried position, will occur through voluntary separation programs.

The automaker also announced Tuesday partnerships with six energy suppliers in Europe, including Centrica in the U.K. and Ireland, to install home charging wall boxes and provide green energy tariffs. A partnership with NewMotion aims to help drivers locate and pay for charging more easily at more than 118,000 charging points in 30 countries.

“With electrification fast becoming the mainstream, we are substantially increasing the number of electrified models and powertrain options for our customers to choose from to suit their needs,” Ford of Europe President Stuart Rowley said in a statement.

Electrified doesn’t mean every vehicle will be solely powered by electricity. The term means the vehicles can use hybrid, plug-in hybrid or battery-electric technology. The showcase Tuesday supports the automaker’s earlier commitment that every new Ford passenger vehicle will include an electrified option.

Ford Europe plans

While some automakers have stuck to an all-electric strategy, Ford plans to produce a range of hybrids, plug-in hybrids and battery electric vehicles.

“There is no ‘one-size-fits-all’ solution when it comes to electrification – every customer’s circumstances and travel needs are different,” said Joerg Beyer, executive director of engineering at Ford of Europe. “Our strategy is to pair the right electrified powertrain option to the right vehicle, helping our customers make their electrified vehicle experience easy and enjoyable.”

Ford isn’t doing this alone. The automaker announced in July a partnership with Volkswagen Group that covers collaboration on electric vehicles and development of autonomous technology via a $2.6 billion investment by VW into Argo AI.

Under the EV part of the tie-up, Ford will use VW’s MEB platform, the underlying architecture for its upcoming line of passenger electric vehicles, to develop at least one fully electric car for Europe. VW debuted Monday the ID.3, the first model with MEB platform.


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Ford says its autonomous cars will last just four years – gpgmail


The automotive industry has embraced — and advertised — self-driving cars as a kind of panacea that will solve numerous problems that modern society is grappling with right now, from congestion to safety to productivity (you can work while riding!).

Unfortunately, a very big question that has been almost entirely overlooked is: how long will these cars last?

The answer might surprise you. In an interview with The Telegraph in London, John Rich, who is the operations chief of Ford Autonomous Vehicles, reveals that the “thing that worries me least in this world is decreasing demand for cars,” because “we will exhaust and crush a car every four years in this business.”

Four years! That’s not a very long lifespan, even compared with cars that undergo a lot of wear and tear, like New York City cabs, which were an average of 3.8 years old in 2017, meaning some were brand new and others had been in service for more than seven years.

It’s more surprising compared with the nearly 12 years that the average U.S. car owner hangs on to a vehicle. In fact, Americans are maintaining their cars longer in part because the technology used to make and operate them has advanced meaningfully. In 2002, according to the London-based research firm IHS Markit, the average age of a car in operation was 9.6 years.

So what’s the story with autonomous cars, into which many billions of investment capital is being poured? We first turned to Argo AI, a Pittsburgh, Pa.-based startup that raised $1 billion investment in funding from Ford three years ago and refueled this summer with $2.6 billion in capital and assets from Volkswagen as part of a broader alliance between VW Group and Ford. Argo is developing cars for Ford that it’s testing right now in five cities.

We’d hoped Argo could help us put that four-year number into context, including how Ford arrived at it and whether it could be lengthened. Since Ford will be operating the cars, Argo pointed us back to Ford’s Rich, who, while on the run, answered some our questions via email.

Asked how many miles Ford anticipates that the cars will travel each year — we wondered if this number would be more or less than a taxi or full-time Uber driver might traverse — he declined to say, telling us instead that while Ford isn’t sharing miles targets, the “vehicles are being designed for maximum utilization.”

Wrote Rich, “Today’s vehicles spend most of the day parked. To develop a profitable, viable business model for [autonomous vehicles], they need to be running almost the entire day.”

Indeed, Ford isn’t selling these cars to individuals any time soon. Instead, it plans to use the cars in autonomous fleets that will be used as a service by other companies, including as delivery vehicles. Ford sees the “initial commercialization of AVs to be fleet-centric,” says Rich.

We also wondered if Rich’s prediction for the lifespan of full self-driving cars ties to his expectation that Ford’s autonomous vehicles will be powered by internal combustion engines. Most carmakers appear to be investing in new combustible engine architectures that promise greater fuel efficiency and fewer emissions but that still require more parts than electric cars. And the more parts that are being stressed, the higher the likelihood that something will break.

Rich says the idea is to transition to battery-electric vehicles (BEV) eventually, but that Ford also needs to “find the right balance that will help develop a profitable, viable business model. This means launching with hybrids first.”

In his words, the challenges with BEVs as autonomous vehicles right now: includes a “lack of charging infrastructure where we need to operate an AV fleet. Charging stations and infrastructure needs to be built that will add to the already capital-intensive nature of developing the AV technology and operations.”

Another challenge is the “depletion of range from on-board tech. Testing shows that upwards of 50 percent of BEV range will be used up due to the computing power of an AV system, plus the A/C and entertainment systems that are likely required during a ride hailing service or passenger comfort.”

Ford also worries about utilization, writes Rich, “The whole key to running a profitable AV business is utilization – if cars are sitting on chargers, they aren’t making money.”

And it’s worried about battery degradation, given that while “fast charging is needed daily to run an AV fleet, it degrades the battery if used often,” he says.

Of course, the world would be far better off without any combustion engine exhaust emissions. On the brighter side, while Ford’s cars may not be long for this world, between 80 and 86 percent of a car’s material can be recycled and reused. According to a trade group called the Institute of Scrap Recycling Industries (ISRI), the U.S. recycles 150 million metric tons of scrap materials every year altogether.

Fully 85 million tons of that is iron and steel; the ISRI says the U.S. recycles another 5.5 million tons of aluminum, a lighter but more expensive alternative to steel that carmakers also use.


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