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Tesla shares fall on warning of Model 3 bottleneck

October 3, 2017 By Michael Greenwood

(Reuters) – Shares in Tesla Inc were down 2 percent in trading before the bell on Tuesday after the luxury electric vehicle maker said its planned ramp-up for the new Model 3 mass-market sedan faced production bottlenecks.

Tesla, which began production of the Model 3 in July, has so far delivered just 220 of those sedans and produced 260 during the quarter.

The production of 260 Model 3 sedans in the quarter was far below the 1,500 target and Tesla’s production goal of 5,000 a week by end of this year 2017 is at risk, Cowen and Co analysts wrote in a research note on Monday.

The brokerage affirmed its “underperform” rating on the stock.

Tesla is also set to face increased competition as rival General Motors Co on Monday outlined plans to add 20 new battery electric and fuel cell vehicles to its global lineup by 2023.

Shares of Tesla were trading at $ 334.97. GM shares were up 1.8 percent at $ 42.90 in premarket trading.

Reporting by Supantha Mukherjee in Bengaluru

Our Standards:The Thomson Reuters Trust Principles.

Tech

Filed Under: Cloud Computing Tagged With: bottleneck, Fall, model, Shares, Tesla, Warning

Lessons fall from the cloud, changing data center strategies

September 13, 2017 By Michael Greenwood

The transformative power of cloud computing is long past the point of being news. The cloud model, after all, has irrevocably changed how IT functions …


Cloud Computing

Filed Under: cloud hosting Tagged With: Center, Changing, cloud, Data, Fall, From, lessons, Strategies

Windows 10 Fall Creators Update Preview

May 13, 2017 By Michael Greenwood

Microsoft has announced its Windows 10 Fall Creators Preview, with new features like Timeline, Pick Up Where You Left Off, and the new Story Remix. Here’s what the new update will include.


Cloud Computing

Filed Under: cloud hosting Tagged With: creators, Fall, Preview, update, Windows

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